Silk Road forums
Discussion => Silk Road discussion => Topic started by: cheechw on June 05, 2013, 05:46 pm
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I know there is some mystery as to how the value of the BTC is determined for SR. But the general rule seems to bee the gox weighted average (currently $121.155) Some of the current weed prices have their USD amount in the description and simple arithmetic says the current SR BTC value is around $113 ($25 / .22). I can see no BTC value on several exchanges anywhere near that low of an amount.
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Add something to your shopping cart and look just above where you put your address and it breaks down how its calculated showing to the current value of the bitcoin.
Example:
Total: ฿2.66
($322.73 at $121.326 per Bitcoin)
Currently the value of the btc on SR is only pennies different from the mtgox avg.
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Thanks for the tip. Initially there was no conversion present when I added to cart. I looked @ my settings and changed display from btc to usd and all is good.
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Sorry I did not think to tell you to change it to USD. If you want to see something interesting check out for example this listing http://silkroadvb5piz3r.onion/silkroad/item/6fab51ffec do it first under the USD then switch to BTC and watch the magic happen.
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Sorry I did not think to tell you to change it to USD. If you want to see something interesting check out for example this listing http://silkroadvb5piz3r.onion/silkroad/item/6fab51ffec do it first under the USD then switch to BTC and watch the magic happen.
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I know there is some mystery as to how the value of the BTC is determined for SR. But the general rule seems to bee the gox weighted average (currently $121.155) Some of the current weed prices have their USD amount in the description and simple arithmetic says the current SR BTC value is around $113 ($25 / .22). I can see no BTC value on several exchanges anywhere near that low of an amount.
There is NO MYSTERY at all how SR values the btc. The mystery is how after over 500 threads about btc on SR, an explanation in SR wikki on how it works, countless post explaining btc on SR and yet there are still members that do not understand it.
Also realize that if someone has a $ amount in the description of their item it could be outdated and therefore wrong or they did the math wrong and therefore wrong. Either way, the amount the item is listed is the price you can buy it for right now.
Also is your account set to US DOLLAR or btc? you should set it so you see everything in dollars...then at check out it will give you the current SR exchange rate and tell you the price you need in btc. And if you ever want to see how much something is...you can just add it to your cart.
To do this go to account and then on the right hand side go to Settings. Then on the left hand side click display in dollars. Then click update profile and your done!
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Also is your account set to US DOLLAR or btc? you should e it so you see everything in dollars...then at check out it will give you the current SR exchange rate and tell you the price you need in btc. And if you ever want to see how much something is...you can just add it to your cart.
This. It's really not rocket science.. you should have your settings so displayed to the USD. And most vendors peg their prices to the USD if I'm not mistake.
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The biggest cause of the discrepancy is probably the fact that most vendors set their pricing pre-commission meaning that they tell SR how much they want to charge, then SR automatically adds their commission on top of that. So if a seller sets a price that is equivalent to 100 USD, it will display a few dollars higher than that.