Silk Road forums
Support => Technical support => Topic started by: jakeyblues1987 on September 14, 2012, 04:34 am
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I know this is a total noob question but I listed an item for 25 bitcoins a few days ago and i checked on it today (im still stealth until i list all my items) and I noticed its listed for 24.28 bitcoins. Whi is that? do i need to keep setting it back to 25? any help would be appreciated. Thanks! stay Frosty!
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If you peg your listings to the USD they will automatically change as the value of BTC to the USD changes. Your prices will maintain their USD value, which is a nice thing with the volatility of BTC.
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I know this is a total noob question but I listed an item for 25 bitcoins a few days ago and i checked on it today (im still stealth until i list all my items) and I noticed its listed for 24.28 bitcoins. Whi is that? do i need to keep setting it back to 25? any help would be appreciated. Thanks! stay Frosty!
You need to read through the Silk Road Seller's Guide (http://silkroadvb5piz3r.onion/index.php/silkroad/sellers_guide). This should have been done before you started vending:
Pricing
You have two options when pricing your listings. They can be priced in constant Bitcoins, or constant US Dollars. If you choose to peg your listings to the dollar, your prices will change dynamically in accordance with the exchange rate between the two currencies. When the Bitcoin appreciates, your prices will fall. When it depreciates, they will rise, so no matter what, you will get the same dollar value for your item. We recommend that you peg your prices to the dollar.
You may also choose whether to set your price before or after commission is added. If you choose "pre-commission pricing", the price you set will be the amount of money you are paid when a transaction is complete, but your customers will see a higher price that includes the commission. If you choose "post-commission pricing", you set the price that your customers pay. When you get paid, the amount you receive will be less than this by the amount of the commission.
I would also recommend you read through the Buyer's Guide (http://silkroadvb5piz3r.onion/index.php/silkroad/buyers_guide) in order to get a better understanding of the entire system.
- grahamgreene