Silk Road forums
Discussion => Silk Road discussion => Topic started by: someanonymousguy on February 25, 2012, 11:57 am
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I was looking at http://bitcoincharts.com/markets/currencies/ , and I can see that in the last 24 hours price/btc has gone up a lot! Bitcoin prices on SR however, don't seem to have dropped (I've been watching 3/4 items and they fluctuate up and down by 0.01btc, no more). Am I misunderstanding the system? Or is that website not accurate?
Edit: I searched for about 5 minutes, and found similar questions with no answers. I tried! :)
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I think I read somewhere that they use the listing on mtgox.
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It is the mtgox Weighted 24 Avg. although it does seem to lag a couple of hours behind. I bought something yesterday and the price has changed 0.07 bits from yesterday till today which is about right from what I see on the bit price change.
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SR doesn't calibrate the price based on bitcoincharts, but based on MT. Gox's weighed average. And like OldGuard said, it lags a bit behind the actual value. You can check the value in a nice graph form at www.mtgoxlive.com.
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I like to use the older version found here, https://classic.mtgox.com/trade/history
gives you a few options on different charts to see and is easier for me to read then the newer version.
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Thanks guys, makes sense
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SR uses the front-weighted MA of the previous 24 hours BTC price data. The front-weighting (i.e. more recent price action has much higher affect on the price value, just like recent feedback contributes more to rank than old feedback) help keep the price fairly close to the actual trade value, but it does take at least a few hours to price in major moves.
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frustrating when you have enough for something but SR says you dont.
actual BTC value goes up
my item now costs even more
WTF
shouldnt it cost less?
guess ill be playin the waiting game.