Silk Road forums

Discussion => Security => Topic started by: vectorsalimundo on August 20, 2012, 12:41 am

Title: Are vendors going to short/cancel orders placed during the height of the BTC?
Post by: vectorsalimundo on August 20, 2012, 12:41 am
I placed a few orders from the top 1% when BTC were at ~15 USD/BTC. Now that they've fallen to 8 USD/BTC and the orders are still processing should I be worried about my orders?
Title: Re: Are vendors going to short/cancel orders placed during the height of the BTC?
Post by: jameslink2 on August 20, 2012, 12:51 am
Im not canceling orders that were placed when it was $15 per btc.

Most vendors are hedged so the second the sale is made it is held as USD in the system. Even if the price of the coin falls the hedged accounts are still good.

Me personally, I dont hedge my account but that is because I am playing the long game. ;)
Title: Re: Are vendors going to short/cancel orders placed during the height of the BTC?
Post by: awakened350 on August 20, 2012, 01:24 am
I'm unhedged because I figure that the extra I may when btc appreciate while in escrow makes up for times like this. None of my orders will be cancelled but I may be unable to purhcase more stock until things stabalize :/
Title: Re: Are vendors going to short/cancel orders placed during the height of the BTC?
Post by: vectorsalimundo on August 20, 2012, 01:36 am
Unfortunately my order was unhedged so I don't know how the vendor is going to react. Like I said he is, according to SR, in the top 1% of vendors so I hope he is in it for the long haul and will honor my order. His username bears striking resemblance to a well known search engine. What do you guys think?
Title: Re: Are vendors going to short/cancel orders placed during the height of the BTC?
Post by: farmer1 on August 20, 2012, 04:08 am
I'm not but I was wondering if others would be doing this. I doubt any vendors were refunding anyone while the value of BTC was on the rise...

In the future will I watch for drastic rises in the value of BTC and stop all sales so I can be finalized before the fall? Yes.
Will I perpare for the drop ready to cash out? Yes.

If someone pulls that shit I would make it known on their vendor feedback. Warn the next guy that their hard earned bitcoins are possibly the vendors future used jizz tissue.

I haven't asked any buyers to FE but I could see that helping the vendor a great deal in a volatile market. Maybe buyers can keep that in mind when they find a solid vendor with whom they trust and do repeat business.
Title: Re: Are vendors going to short/cancel orders placed during the height of the BTC?
Post by: Delta11 on August 20, 2012, 05:08 am
Unfortunately my order was unhedged so I don't know how the vendor is going to react. Like I said he is, according to SR, in the top 1% of vendors so I hope he is in it for the long haul and will honor my order. His username bears striking resemblance to a well known search engine. What do you guys think?
Depends on how it goes tomorrow but to be honest I don't see them cancelling orders and if it's who I think it is I doubt they would cancel their orders over a small fluke like this one. If you're in the top 1% and you're unhedged you're obviously doing so at your own risk, but then again us vendors are human and can be pretty unpredictable.
Title: Re: Are vendors going to short/cancel orders placed during the height of the BTC?
Post by: Thunderweed on August 20, 2012, 05:46 am
theyre startin to bounceback a bit