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« on: November 14, 2013, 09:51:56 pm »
BTCKing - do not continue to spam my mailbox as doing so falls under the same rule as any other type of spamming and may result in a ban, I do not have the time to respond to your messages just because you disagree with something, it is getting ridiculous which is why I have ignored most of your mails because there are greater problems right now to deal with.
The idea that the price is unfair is totally ignoring the situation. We based our price on the volume of each market and give a weighted average between them so that each market price is represented according to their true size. We also must consider what is being stirred up as an outrage is quite simply not, the overwhelming majority of users will only purchase $50-$80 listings for personal use and given the difference is 1.5-2.3% the effect is negligible, considering it also sways in the opposite direction to favor buyers at times of stability.
At the current rates, when vendors cashout they also will lose some percentage of this. If I was to change the rate then vendors will compensate by changing their prices too, this fact has been largely ignored by most despite that I see these changes all the time not from a personal viewpoint but it reflects in the data which is how I draw conclusions.
In these volatile times, the rate will always be fluctuating heavily and we are doing our best to negate the impact it has of sudden spikes which occur, only yesterday the price decided to drop $40 then rise $60 - would it be fair on buyers if we then stuck with that dip precisely? No. We divide the potential for loss between vendor and buyer so any drastic changes can be reduced in a manner consistent with both sides. When the rates become more stable, I will take time to consider the rates again, but doing so in a volatile market is not wise as while you may be a bitcoin trader, I have responsibilities to both sides also on a much larger scale. When the price begins to collapse, buyers will have the advantage and often it is the case vendors will be the ones to lose out on a far larger scale so the trick works in both ways.