Silk Road forums

Discussion => Silk Road discussion => Topic started by: RickyRango on August 26, 2011, 09:28 pm

Title: This is the second time I got fucked - Help me understand hedged escrow
Post by: RickyRango on August 26, 2011, 09:28 pm
My account is set to hedged escrow.  It's my understand that it's supposed to protect the buyer and seller from rapid inflation/deflation.  Well I sold an expensive item, and the money stayed in my escrow as bitcoins.  Then btc dropped in value by $3, and I confirmed my order.  Now I've only got US dollars in my escrow, and I received $60 less than what I was supposed to.  I thought hedged was supposed to prevent that?!!  Somebody please explain this whole thing to me because I'm just baffled completely.

The last time this happened I wasn't using hedged.  I sold an expensive item and the btc value dropped by 50%, so I risked it all just to break even.  Fuck.  :'(

Anyway any help will be appreciated!
Title: Re: This is the second time I got fucked - Help me understand hedged escrow
Post by: mseller on August 26, 2011, 09:57 pm
it is not hedged until you confirm shipping.
Title: Re: This is the second time I got fucked - Help me understand hedged escrow
Post by: chronicpain on August 26, 2011, 10:04 pm
What mseller said.. Nothing is hedged til you have clicked "Shipped"... Luckily, I learned that from the beginning.  Also, remember that hedging will cost the vendor about 4 to 5 percent. Thats the difference between the buy/sell price when you hedge.. So, keep that in mind.