Silk Road forums

Discussion => Security => Topic started by: thecatinthehat101 on July 05, 2013, 08:03 pm

Title: Silk Road Pricing how exactly is it done with regard to Bitcoins volatility
Post by: thecatinthehat101 on July 05, 2013, 08:03 pm
I think a lot of us who have noticed how volatile Bitcoin has been were wondering how exactly are the prices made? How often are these prices updated with regard to the current Bitcoin market at the time? Whats the standard for determining Bitcoin prices?? Mtgox still??
Title: Re: Silk Road Pricing how exactly is it done with regard to Bitcoins volatility
Post by: astor on July 05, 2013, 08:10 pm
It used to use the MtGox 24 hour average, updated every 10 minutes.

But now:

Quote
UPDATE (07/02/2013 1700 UTC): Forgot to mention another change that's coming with this update.  Now that MtGox is losing market share, we'll be pulling from multiple markets to get the "official" exchange rate for pricing and hedging.  It will also be more closely weighted to the preset instead of equally weighting all prices over the past 24-hours.  This part is a bit of an experiment and we may revert back if there are any problems with it.

http://dkn255hz262ypmii.onion/index.php?topic=178647.0
Title: Re: Silk Road Pricing how exactly is it done with regard to Bitcoins volatility
Post by: thecatinthehat101 on July 05, 2013, 08:13 pm
Wow from the priate himself man hes my new personal hero I can't even imagine what his life is like.
Title: Re: Silk Road Pricing how exactly is it done with regard to Bitcoins volatility
Post by: thecatinthehat101 on July 05, 2013, 10:16 pm
So its updated every 10 minutes right still?
Title: Re: Silk Road Pricing how exactly is it done with regard to Bitcoins volatility
Post by: astor on July 06, 2013, 12:48 am
I assume. You can install a Firefox add-on in your Tor Browser that reloads the page at an interval of your choosing (ie, 10 minutes) and find out. :)
Title: Re: Silk Road Pricing how exactly is it done with regard to Bitcoins volatility
Post by: thecatinthehat101 on July 06, 2013, 03:09 pm
Call me paranoid but I would just rather have the same add ons tor comes with and nothing more. The more add on's on your the possible problems if you ask me.