Silk Road forums
Discussion => Silk Road discussion => Topic started by: beaner on October 06, 2012, 01:55 pm
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Just a question, I havn't been keeping an eye on it lately. anyone?
regards
B
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Vendors can peg their prices to the US dollar which will automatically adjust the BTC amount. It's at the Vendors discretion whether they peg the price or not.
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ahh thanks. so it is like an automatic system? of sorts
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I was wondering this myself, and it does appear most vendors automatically have their BTC prices adjusted based on the exchange rate. The question is which exchange rate do they use, I thought different bitcoin exchangers had slightly different exchange rates or methods for determining exactly what exchange rate they offer? And do they use the most recent value of the exchange rate, an average over some time interval, or what?
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Does anyone find this fucked up? My money keeps changing.
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I peg to the FRN of my choice, and it updates automatically I love the SR system :)
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No, I think thats bullshit. My money keeps changing. I'm scared to keep money on my account. After we PURCHASE BTC's they're ours. Vendor's shouldn't be able to do that.
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just starting out as a vendor/exchange and i use the "weighted average" price shown on mtgox.com at the time of order processing.
This is not one the OP is talking about at all.
What he was asking is lets say we sell a bag of weed for 410 bucks. And right now a Btc is worth $10 bucks.... then the bag cost 1 Btc. Well if the Btc go's to being worth $20 do we still ask 1 Btc that is now worth $20 so we are selling the same bag for $20 instead of $10...or do we sell for .5 Btc making it still $10?
This example should make it clear to everyone... 99.999% of us base our prices on the dollar not the Btc.. So it makes no difference what the Btc is..You will always pay the same. Yes you can find one vendor that just charges 5 Btc regardless of the value of it..But that vendor is usually a moron and just does not understand the Btc.
But all of the solid vendors price our items in dollars..So you never have to worry.
Silk Road takes a 24 hour waited average from Mt.Gox for the value of a Btc. I would suggest you selling Btc charge SR value not the Mt.Gox price. Your customers will be happier and it will be a lot faster and easier for you to get the Btc to your customer as you can just send it to them from your SR account to theirs. That way you are not having to wait for any confirmations. On top of that your exchange rate will be a lot easier and clear to your customer.
To get that price at the time of your "deal" just put an item into your cart and you will get SR current value for Btc..Then go from there.
Good luck
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No, I think thats bullshit. My money keeps changing. I'm scared to keep money on my account. After we PURCHASE BTC's they're ours. Vendor's shouldn't be able to do that.
You have no idea what you are even saying..Why in the world would you be scared to keep your coin on SR? You are not losing or gaining any value with your Btc.
If you have 100 Btc in your account then you will always have that number. What it is worth is based on the Btc going up or down with the market like it has since day 1. In the last 120 days the Btc has had about 2 days of going down. No vendor is or could affect the value of your Btc.
Do you people not realize that Silk Road go's off a 24 hour average of the Mt.gox price? So the value is always changing...and in the last 2 days it has gone from 12.80 of a high to 10.20 of a low..it is on it's way back up once again and almost to $12 again.
But again you are not losing any value because your coin is on SR or not.
Before you make post learn what you are even posting about. It will only help you. There is a free or actually a few free apps for your phone that give you a live value and it is 24 hours ahead of SR in a way.. I mean it is not but it will give you an idea what the Btc is doing. As since April when it was around $4.75 to a high of $15 and staying in the $12 range for the last 2 months.. don't worry about the price of Btc. .. And educate yourself so you will not panic and you will understand the Btc...
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This is not one the OP is talking about at all.
I was responding to dementyev6969 - sorry for not quoting for clarity.
no worries...Sorry ....but there is no way I could have known.
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No, I think thats bullshit. My money keeps changing. I'm scared to keep money on my account. After we PURCHASE BTC's they're ours. Vendor's shouldn't be able to do that.
You have no idea what you are even saying..Why in the world would you be scared to keep your coin on SR? You are not losing or gaining any value with your Btc.
If you have 100 Btc in your account then you will always have that number. What it is worth is based on the Btc going up or down with the market like it has since day 1. In the last 120 days the Btc has had about 2 days of going down. No vendor is or could affect the value of your Btc.
Do you people not realize that Silk Road go's off a 24 hour average of the Mt.gox price? So the value is always changing...and in the last 2 days it has gone from 12.80 of a high to 10.20 of a low..it is on it's way back up once again and almost to $12 again.
But again you are not losing any value because your coin is on SR or not.
Before you make post learn what you are even posting about. It will only help you. There is a free or actually a few free apps for your phone that give you a live value and it is 24 hours ahead of SR in a way.. I mean it is not but it will give you an idea what the Btc is doing. As since April when it was around $4.75 to a high of $15 and staying in the $12 range for the last 2 months.. don't worry about the price of Btc. .. And educate yourself so you will not panic and you will understand the Btc...
My money in my account is changing and no longer can afford what I wanted. Every time I refresh my page its a different number. Also instead of saying "before you make a post, learn what you are talking about". Buddy, it's obvious I don't know what I'm talking about theres no point in being an asshole and saying it. We all are aware. Everyone starts somewhere. It's not unusual for someone to be concerned because the currency in my account is never the same..
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No, I think thats bullshit. My money keeps changing. I'm scared to keep money on my account. After we PURCHASE BTC's they're ours. Vendor's shouldn't be able to do that.
You have no idea what you are even saying..Why in the world would you be scared to keep your coin on SR? You are not losing or gaining any value with your Btc.
If you have 100 Btc in your account then you will always have that number. What it is worth is based on the Btc going up or down with the market like it has since day 1. In the last 120 days the Btc has had about 2 days of going down. No vendor is or could affect the value of your Btc.
Do you people not realize that Silk Road go's off a 24 hour average of the Mt.gox price? So the value is always changing...and in the last 2 days it has gone from 12.80 of a high to 10.20 of a low..it is on it's way back up once again and almost to $12 again.
But again you are not losing any value because your coin is on SR or not.
Before you make post learn what you are even posting about. It will only help you. There is a free or actually a few free apps for your phone that give you a live value and it is 24 hours ahead of SR in a way.. I mean it is not but it will give you an idea what the Btc is doing. As since April when it was around $4.75 to a high of $15 and staying in the $12 range for the last 2 months.. don't worry about the price of Btc. .. And educate yourself so you will not panic and you will understand the Btc...
My money in my account is changing and no longer can afford what I wanted. Every time I refresh my page its a different number. Also instead of saying "before you make a post, learn what you are talking about". Buddy, it's obvious I don't know what I'm talking about theres no point in being an asshole and saying it. We all are aware. Everyone starts somewhere. It's not unusual for someone to be concerned because the currency in my account is never the same..
If the amount in your account is changing it's because you are viewing it in dollars, if you go to your Settings page you can change this to display in bitcoins, the amount will then stay steady :)
You deposited x amount of bitcoins into your account and you still have x amount of bitcoins, but their worth in dollars is constantly changing, so displaying your bitcoins as dollars means the amount keeps changing with the bitcoin rate :)
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No, I think thats bullshit. My money keeps changing. I'm scared to keep money on my account. After we PURCHASE BTC's they're ours. Vendor's shouldn't be able to do that.
You have no idea what you are even saying..Why in the world would you be scared to keep your coin on SR? You are not losing or gaining any value with your Btc.
If you have 100 Btc in your account then you will always have that number. What it is worth is based on the Btc going up or down with the market like it has since day 1. In the last 120 days the Btc has had about 2 days of going down. No vendor is or could affect the value of your Btc.
Do you people not realize that Silk Road go's off a 24 hour average of the Mt.gox price? So the value is always changing...and in the last 2 days it has gone from 12.80 of a high to 10.20 of a low..it is on it's way back up once again and almost to $12 again.
But again you are not losing any value because your coin is on SR or not.
Before you make post learn what you are even posting about. It will only help you. There is a free or actually a few free apps for your phone that give you a live value and it is 24 hours ahead of SR in a way.. I mean it is not but it will give you an idea what the Btc is doing. As since April when it was around $4.75 to a high of $15 and staying in the $12 range for the last 2 months.. don't worry about the price of Btc. .. And educate yourself so you will not panic and you will understand the Btc...
My money in my account is changing and no longer can afford what I wanted. Every time I refresh my page its a different number. Also instead of saying "before you make a post, learn what you are talking about". Buddy, it's obvious I don't know what I'm talking about theres no point in being an asshole and saying it. We all are aware. Everyone starts somewhere. It's not unusual for someone to be concerned because the currency in my account is never the same..
If the amount in your account is changing it's because you are viewing it in dollars, if you go to your Settings page you can change this to display in bitcoins, the amount will then stay steady :)
You deposited x amount of bitcoins into your account and you still have x amount of bitcoins, but their worth in dollars is constantly changing, so displaying your bitcoins as dollars means the amount keeps changing with the bitcoin rate :)
This will solve the problem of you seeing a different amount....what it wont do is keep the price of your product fixed. The price in BTC fluctuates so you must always buy more than what you need to make a purchase...BTC don't go bad they will be there the next time you make an order and you wont have to start a begging thread like you see all the time. I normally want 5% more than what I calculate if I have any in my SR account then I just deduct that amount from what I need to purchase that day
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My money in my account is changing and no longer can afford what I wanted. Every time I refresh my page its a different number. Also instead of saying "before you make a post, learn what you are talking about". Buddy, it's obvious I don't know what I'm talking about theres no point in being an asshole and saying it. We all are aware. Everyone starts somewhere. It's not unusual for someone to be concerned because the currency in my account is never the same..
Think of it this way: A bitcoin's worth fluctuates constantly based on what people buy and sell them for. It's not a dollar, euro, pound, or any other national currency. It's like a bar of gold. If you go check the value of gold, you'll see it's worth 1764 USD. Tomorrow it might drop and be worth 1760 USD. It might increase in value and hit 1770. We don't know. Right now, the Bitcoin's worth is 11.77 USD.
Vendors usually set their prices to change based on the Bitcoin's worth, so they don't have to check every hour, delist the item, and relist it. So if they want something to sell for 100 USD, they would set it at 8.4 BTC, because 8.4 BTC * 11.77 USD/BTC is 100 USD. If the price of BTC goes down tomorrow to 10 USD/BTC, then their listing would change to say that 10 BTC are required instead of 8.4, because 10 BTC * 10 USD/BTC is 100 USD.
The BTC in your account will never change, but their values will. And if their value goes up, they're worth more and you can use them to buy more things. If their value drops, you'll need more to buy the same things. Think of it like gold.
Just be glad the BTC has been fairly constant. Outside of a strange recent 2-ish day fluctuation where it dropped to nearly 10, it's been on a very slow but steady climb in value for a while now.
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So when a vendor sets up their account they have the option of having prices automatically adjust based on the Mt Gox weighted average, thanks for clearing that up RX 8) Vendors can choose to have their prices as fixed BTC prices also (don't know why anyone would do this), can vendors also choose to pin their prices to other exchange rates, like the most recent instant Mt Gox rate?
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OH I get it. I know how the BTC work, it's just I had it in dollars and I suppose I never put two and two together. Hah thanks. :D
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OH I get it. I know how the BTC work, it's just I had it in dollars and I suppose I never put two and two together. Hah thanks. :D
Yes you understand now. No problem, sometimes when you were referring to your "money" you weren't delineating whether it was in $ or BTC. And yes, the smart vendors will adjust their prices every so often.
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wow some great responses thank you 8)
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So when a vendor sets up their account they have the option of having prices automatically adjust based on the Mt Gox weighted average, thanks for clearing that up RX 8) Vendors can choose to have their prices as fixed BTC prices also (don't know why anyone would do this), can vendors also choose to pin their prices to other exchange rates, like the most recent instant Mt Gox rate?
No..... and that would be stupid since SR does not use that.
All that ever matters is what Silk Road bases their exchange rate at.
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Does anyone find this fucked up? My money keeps changing.
Welcome to the fun world of the currency exchange! Trick is now just to buy/sell ahead of everyone and try to predict the market.