Silk Road forums

Discussion => Silk Road discussion => Topic started by: mito on September 06, 2011, 10:09 pm

Title: Do sellers update prices daily?
Post by: mito on September 06, 2011, 10:09 pm
I read the topics about bitcoin currency fluctuation, and I was wondering if sellers update their prices on a daily basis...

Bitcoin value has been falling since last week...

Asking just out of curiosity.

Thx
Title: Re: Do sellers update prices daily?
Post by: braxxen on September 06, 2011, 10:29 pm
the prices are tied to the dollar, the bitcoin goes down, prices go up and the other way around
Title: Re: Do sellers update prices daily?
Post by: mito on September 06, 2011, 11:14 pm
Quote from: braxxen on September 06, 2011, 10:29 pm
the prices are tied to the dollar, the bitcoin goes down, prices go up and the other way around

So Silk Road automatically adjusts prices, seller doesn't do anything, right?

Title: Re: Do sellers update prices daily?
Post by: captainjojo on September 07, 2011, 02:29 am
Yes, I believe all it does is divide the dollar price by the current BTC value.  I have a vague memory of someone saying a seller could price his item in BTC or dollars.  Not sure what happens if the seller does it that way, it may be the seller would have to update the price manually in that case.

But having observed almost every item I was interested in buying go up and down with the fluctuating BTC I would have to say almost all the sellers list their items in dollars and let SR handle the rest.
Title: Re: Do sellers update prices daily?
Post by: anarcho47 on September 19, 2011, 05:01 am
The pegged BTC price is updated throughout the day, and I believe it uses a 1-hour rolling moving average of the BTC/USD trading price.

It's just an equation that constantly updates.

Sellers can choose to just list their items in BTC but that would be kind of insane.  I think pretty much everybody pegs.
Title: Re: Do sellers update prices daily?
Post by: chronicpain on September 20, 2011, 04:10 pm
I know a few vendors that change their prices a few times a day. I personally don't as I dont see a need to. BUt, I guess others do...