Silk Road forums
Discussion => Newbie discussion => Topic started by: MikeDealman on January 23, 2013, 09:23 pm
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I currently own no bitcoins but am getting some today and am looking to make some purchases. My problem is that as the price of bitcoins rise the bitcoin cost of products isn't adjusted to reflect that. For example, lets say a seller is selling something for $40. So at $15 per bitcoin that would be 2.67 bitcoins. But at $17 per bitcoin the new usd price is $45.33. To pay the price of $40 do I need to work this out with the seller or is there another way this is adjusted? Thx
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Once you buy the bitcoins your price will adjust with price his price will remain the same so if price goes up then it will cost less coins if price goes down it will cost more coins but his 40 dollar item will remain 40 dollars he just wants the price he wants
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He would have to have this setting right? To automatically hedge? If a seller doesn't have this setting to automatically adjust prices, I suppose the only other route to get the original price is to work it out with the seller through messages before you purchase?
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Most all vendors peg their prices to the USD. This means that as the value of bitcoin rises, the bitcoin price of their listing gets lower. It maintains a constant USD value.
Go to your account settings page and set all prices to be viewed in USD. It will make your life simpler.
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thanks just did. And is there a solution for the vendors who don't peg their prices?
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The solution is if they don't peg their prices and you disagree with that then don't buy from them.
No business means they will do business a different way.
That said I have never seen a listing just stay the same btc value during this value increase.
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USD is crap. I don't see USD as any more stable, constant, or valuable than BTC.
Just saying.
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USD may not be any more stable but because no government produces and supplies BTC you have to get a value from somewhere.
Money gets you things, and the USD is still one of the largest used currencies in circulation so its a pretty good middle ground.
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USD is crap. I don't see USD as any more stable, constant, or valuable than BTC.
Just saying.
I agree centralized currencies are crap, but bitcoin value just jumped like 15% or so in the last day. I just need something more stable to go off of.
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Hedge my dear.
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The problem is the price of bitcoins falling while you're holding them. If they suddenly become worth more money before you've spent them then you shouldn't be complaining.
Bottom line is, if you don't like risk or think that bitcoins are overvalued then spend them ASAP and don't hold any for extended periods of time. If you think the opposite is true then hoard them for as long as possible.
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i've been flipping mine for a small profit
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A snapshot in time.
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USD is crap. I don't see USD as any more stable, constant, or valuable than BTC.
Just saying.
You don't see the difference between a monthly fluctuation in value of 300%+ and one of ~>10%?
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USD is crap. I don't see USD as any more stable, constant, or valuable than BTC.
Just saying.
You don't see the difference between a monthly fluctuation in value of 300%+ and one of ~>10%?
I think what ranardine was getting at was: I can't make thousands of dollars in a day with USD, but with BTC, I'm fucking narco-rich.
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I had a thread here with similar concerns about Bitcoin http://dkn255hz262ypmii.onion/index.php?topic=151737.0
Though if there are vendors on SR that fluctuate with the current value I can't ask for more than that,
Well, except maybe if Liberty Reserve was an option. At least you know where you stand that way.
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I had a thread here with similar concerns about Bitcoin http://dkn255hz262ypmii.onion/index.php?topic=151737.0
Though if there are vendors on SR that fluctuate with the current value I can't ask for more than that,
Well, except maybe if Liberty Reserve was an option. At least you know where you stand that way.
Ah, yes. I agree. BTC, for the savvy narcotic consumer, is a god send. Where else do you have dealers utilizing currency that is dependent on sophisticated and dynamic technology as BTC?
If I could make sweet, consensual narco-love to DPR, I would.
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Can anyone explain the huge variation in prices these days? Is it because some speculators have realized they can play with BTC prices?
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Can anyone explain the huge variation in prices these days? Is it because some speculators have realized they can play with BTC prices?
An explanation would imply understanding. There is some, but it is far from complete. Human behavior is as predictable as is the probability of life existing.
Just buy your BTC and live your life. In the end, that's the most sensible thing we can do with our time.
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There's not really much to "deal" with. When prices start to go up, it's a great thing for us. People who bought coins before SR went down is looking forward to being able to spend a bit more. It's when prices go down where we come up short and end up having to get creative or play the waiting game.
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Some seller, have it where they get more money if bitcoins rise. Liston does this. He will sit on your order for almost two weeks and if the price crashed, he cancels your order. When it goes up, he sends it out next day or promises you extra if you FE that day. Here is my experience with him:
Liston stated that he would and told him that I must only get packages from the US. The listing was for US, too. Here is how he is sneaky. He told me just to order the 50 quanity and send him the remaining balance. I had experience with him so I thought he was good. He sent me just the 50, I assume, it weighed about a third of the bag of 150. He wrapped it in paper, no tape, put it in a paper brown envelope and sent it about 10 days after I ordered. I asked for a refund and he refuses. I took it to SR and he offered a 10% refund and accused me of trying to get freebies....after I had spent between 1 and 2 K with him with no problems.
Here is the kicker:
He emailed me and told me that if I didn't just drop the dispute, finalize the order and give him positive feedback, he would send a bunch of shit to my house that was obviously suspicious looking, then call the postal investigators and my local police and provide them with the tracking information. I just wanted my refund and to be done with this guy. He was perfect for so many orders and the first time he messes up and I as him to correct it he pulls this. Wish I knew what to do...