Silk Road forums
Discussion => Silk Road discussion => Topic started by: anonymouse23 on February 19, 2013, 02:49 am
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Why is it that if the bitcoin value drops we immediately see the prices going up, but when it rises it takes ages for the prices to fall?
Is this some kind of trader safeguard that is explained somewhere?
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So many places that have to deal with exchange rates react near instantly when it shifts in their favor, but drag their feet when re-pricing things for an exchange rate that shifted the other way...
Thing is, I really don't see SR gaining from this strategy. Maybe it just looks that way?
If you consistently multiplied out the btc x mtgox $ value for hedged items, and DID find a discrepancy that favored the prices being higher for the conversions, you may be onto something. But I doubt that's the case.
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I explicitly asked if this is for the sellers advantage, since obviously SR has nothing to gain from that, other than a better turnover. ;)
This was not a guess, i have 2 expensive products in my cart all the time and have watched the fluctuations very closely.
There is defiantly a much larger lag in the sellers favor.
Just check it out now with something expensive. Even though the peak has been reached, you will still see the products getting cheaper.
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Then I'm stumped, and must agree with you.
If there's a lag, though, then monitoring exchange rates could tell you when the right time to buy is; however many minutes after the peak in coin value the SR exchange rate peaks.
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You probably want to consult the site that they scrape or API that they use to get the bitcoin value.
I bet that source is the one dragging its feet.
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If there's a lag, though, then monitoring exchange rates could tell you when the right time to buy is; however many minutes after the peak in coin value the SR exchange rate peaks.
From what ive seen during the latest peaks they use the 24h average, since there were no 5% jumps in prices within minutes.
The prices just tickle down or up slowly, so it cant be an api/scrape problem.
Is there no official information from SR how they calculate the prices?
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Well, all I know is that the amount of btc I have now, is much different than the amount I had Sunday.
The swings remind me of when I used to f*ck with HYIP's and small cap stocks!
Hmmm...those were the days...
CRAZY!
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Well, all I know is that the amount of btc I have now, is much different than the amount I had Sunday.
The swings remind me of when I used to f*ck with HYIP's and small cap stocks!
Hmmm...those were the days...
CRAZY!
Theres nothing like reminiscing!