Silk Road forums
Discussion => Silk Road discussion => Topic started by: USAShroomzz on March 22, 2013, 12:43 pm
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So now that btc is skyhigh we DEFINITELY need more than 2 significant digits when viewing btc since even .001btc is valuable. Since there is no record with the SR system of anything past 2 digits how can we know that DPR just isn't skimming off those extra bits (like the movie office space)?
I hope DPR is honest and doesn't skim, but he is a pirate.
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Arrrrrrrr!!!
First, SR definitely does hold more digits. About half the time if you try to send money you may get denied for insufficient funds because of rounding. So say you have "1 BTC" in your account, you could send 1 BTC and be given an insufficient funds error because your actual value is .995 BTC. But you could successfully send .99BTC. So SR is tracking that info. I'd agree on a motion to add a 3rd digit to visibility though given how high the BTC is going.
The other thing I've noticed is (for vendors) when buyers finalize transactions, the conversion rate is always a little bit off (higher than the BTC value) so we end up getting less coins than were hedged. It's usually between .25-.5BTC difference. Vendors can divide the transaction total from the transaction history by the actual amount of the withdrawn bitcoins for each transaction and you'll see what I mean. When the BTC is moving upwards it's not a big deal at all, but downwards or flat momentum and you get hit with the difference. With the BTC having so much momentum these last few days you'd have to catch it right when a transaction finalizes to be able to calc the difference accurately.
Maybe SR is just pulling their own BTC value from a different exchange not listed here though: http://www.bitcoincharts.com/markets/ - in which case it's a site-wide problem because everyone is being charged a higher BTC value than it actually is. Where does SR pull their current value from? Is there anywhere we can view it?
Headline is a little misleading, not sure I would call this stealing as this is new territory for the BTC :)
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Maybe SR is just pulling their own BTC value from a different exchange not listed here though: http://www.bitcoincharts.com/markets/ - in which case it's a site-wide problem because everyone is being charged a higher BTC value than it actually is. Where does SR pull their current value from? Is there anywhere we can view it?
Mtgox weighted average. Mtgox.com
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I would agree, 3 or 4 decimal places would be much more transparent.
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I doubt there is any crooked intention behind this. It wasn't too long ago that BTC were around 10 bucks each, like, in December.
So, the fact that they are now so high makes unexpected changes to how we view them necessary. Smart of you to catch this.
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Maybe SR is just pulling their own BTC value from a different exchange not listed here though: http://www.bitcoincharts.com/markets/ - in which case it's a site-wide problem because everyone is being charged a higher BTC value than it actually is. Where does SR pull their current value from? Is there anywhere we can view it?
Mtgox weighted average. Mtgox.com
When BTC is rising in value, the MtGox weighted average over any time period will be lower than the current price.
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I'm pretty sure I remember reading that when coins go to the tumbler everything beyond two decimal places is lost to the tumbler. Probably not as significant when coins were 10$ or less.r
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I would agree, 3 or 4 decimal places would be much more transparent.
Why not all the decimal places? I can't remember how far out BTC goes, but anything that leads to more transparency is a good thing.
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It would be great if we could get confirmation on @matosago claim about the tumbler removing anything sig digits after 2... Seems unlikely in my opinion but it's best to get it confirmed.
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Do you really think DPR is interested in 0.00xxxxxxx BTC when there is probably 100,000+ coins on the site at any one time?
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Do you really think DPR is interested in 0.00xxxxxxx BTC when there is probably 100,000+ coins on the site at any one time?
It's the principle, no?
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I say put all the decimal places in for us to see. This will stop any chance of said 'skimming'
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I say put all the decimal places in for us to see. This will stop any chance of said 'skimming'
I agree, I vote for all the decimal places.
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Theres a lot of details that need going over on the road but give it time, i'm sure security is their key priority and what with all the media attention i bet the majority of the time is spent on security. I do agree this is something thats needed, but i'd much rather SR doesnt get shut down :D
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/sign
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the precision is in there, just not visible - annoying but a simple workaround is trial and error; my account was showing 0.01 which i wanted to get out but kept getting 'insufficient funds', tried 0.009, 0.008, 0.007 and bingo, its coming my way :) i can't really see SR or DPR skimming accounts for breadcrumbs when they're making so much money already - it is their business smart that keeps this place going ;)
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It's not about skimming or trust or suspicion, it's simply about accuracy and transparency. I just want to know how many BtC fractions I have in my account. Mathematically BtC will only become more valuable as time goes by, they are predetermined to deflate not inflate, so as long as they're being used they will be worth something.
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I'm kind of on the side of pushing out to the full 8 digits, just because I'm broke most of the time, and every little bit helps. But, as a former LEO, I can tell you that specificity can kill you in the courtroom. If you sent 1.85647362BTC from the address you funded through bitinstant, and within an hour, that address transferred 1.85647362BTC to the Road, well, that's pretty convincing evidence. So, I like the specificity, but definitely route your coins through different addresses. If you don't want to spend the money hiding behind proxies, definitely use a laundry service. It's worth what it costs.
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Given the exchange rates of BTC it ould certainly be best to implement full resolution now.
I'm sure the current implementation worked out fine when btc was at us$5, but at $70 we are seeing ronding differences. These are not problematic right now (under 1%) but that may change quicly when the bank accounts on cyprus become accessible again.
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i would vote to show the entire bitcoin decimal... why not? cus its 'cleaner' looking?
DPR most likely is not taking anything from us in this way.. but it would be nice to see everything we have to know for sure.. and why not?
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Can someone explain to me what 0.012345.5433456.756788.975124.134567.864267.9433577.742234678.7422124568. Costs please is it all as much as 1,cent or hundredth that now would it be worth skimming for thin air I guess not......transparency and dec points etc etc WTF man listen work out these figures I've placed above and I'll give you 1,btc ok phew man some people are just sooooo %×=#$$##^£#£÷₩÷₩÷&÷^÷ and "##=_×7 (×¥, ¥×,÷4/÷=:_! £$?#! too
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Can someone explain to me what 0.012345.5433456.756788.975124.134567.864267.9433577.742234678.7422124568. Costs please is it all as much as 1,cent or hundredth that now would it be worth skimming for thin air I guess not......transparency and dec points etc etc WTF man listen work out these figures I've placed above and I'll give you 1,btc ok phew man some people are just sooooo %×=#$$##^£#£÷₩÷₩÷&÷^÷ and "##=_×7 (×¥, ¥×,÷4/÷=:_! £$?#! too
Maybe you're being sarcastic, plain ignorant or I'm just reading you wrong, but what exactly do you mean? Bitcoin is divisible be 8 decimal places e.g. 1.00000000. I see no reason why these decimals cant be displayed. It will HAVE too if a bitcoin is worth thousands in the future for example. I'm all for it. Quite often i have 0.1 left over from purchases and cant be arsed with multiple attempts at withdrawing it.