Silk Road forums
Discussion => Security => Topic started by: thecatinthehat101 on July 05, 2013, 04:54 pm
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I can tell the price of Bitcoin went down today cause the vendor prices went up??
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It did, and it has been on a downward trend for a while. More statistics, if you wish: http://bitcoincharts.com/
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Darn it now I'm short for my order! I made a plea on the spare bitcoin thread if anyone would be kind hearted to help!
Dam this Bitcoin values up and down is really getting annoying!
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Buyers have it really good right now. SR is evaluating bitcoins at $84 ATM, not the <$70 you can buy/sell it for everywhere else.
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The exchange rate on SR has been frozen at $84 for a few days, so the price shouldn't have changed in that time period. Was the last time you checked before Tuesday?
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I checked it obsessively yesterday I did the math the Vendor price def went up! Believe me I have want and wanting to order this for weeks.
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Maybe he increased the price. Vendors can change the price of a listing whenever they want.
DPR also posted about an hour ago that he was going to unfreeze the BTC rate and that appears to have happened. It's at $68 now.
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Holly shit look at where Mtgox is for BC now. I haven't seen BC that low in a while. Yeah I can see that it has been reflected by the prices.
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The exchange rate on SR has been frozen at $84 for a few days, so the price shouldn't have changed in that time period. Was the last time you checked before Tuesday?
Oh that explains a few things for me. Why did he do that?
I had something in my cart for £167 ~3btc was about the buy the btc when I checked and it was at 3.6btc still £167 but that amount of btc is going to cost me like an extra £40
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In the post he said "sorry about that", so I'm guessing it was a mistake.
And yeah, price fluctuations suck for trade, whether they are going up or down. Stability is the best thing to get people trading.
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Stability not today lol unless thats gonna be the new price for a bit. I keep staring at Mtogox prices and its staying around 66 dollars
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I'm watching prices On S.R very closely and the prices continue to be going in the right direction down again. Compared to yesterday the weighted average is slightly higher and continues to rise.
I predict that this will be the beginning of a rebound for Bitcoin the weekend everyone is off is a great time for it to start.
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If you folks think SR single-handedly influenced the price of Bitcoin, you do not understand how far Bitcoin reaches and economic factors that play into the volatile value of this commodity-like currency.
When the value of Bitcoin changes, the vendor prices will change accordingly - that's how the SR marketplace platform works to ensure vendors aren't getting screwed out of their profits due to BTC value changes. Remember, those values are pegged to a non-BTC currency and will adjust accordingly.
So if vendor prices appear to rise, it isn't the vendors necessarily, it's probably just the BTC value changing.