Silk Road forums
Discussion => Silk Road discussion => Topic started by: gentso99 on April 03, 2013, 12:26 pm
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As a buyer here on the Sr this hasn't been a huge problem for me in the past but with the current rise of the coins price I feel something needs to be done. The way I read before that SR value's the coin is by using the mt. gox weighted average and checking it once a day. This is not cutting it. right now it would cost 141 to purchase a coin and the weighted average 123. So even though you may buy the coins now and transfer them straight here and spend them right away you are losing 18 bucks a coin, roughly. If you purchase larger amounts this 18$ quickly adds up.
Would it be too much to ask for the SR to update its price more often or more closely with the current purchase price? If the SR doesn't people like me will have to message there sellers and be like hey, your product is supposed to be 1300$ but since the SR won't keep up with the market is costing me 1480$. Can you lower the dollar amount of your auction to reflect the current price? Then it creates more work for the seller and buyer. It also discourages people from making larger purchases.
I am open to better ideas but I think the current system needs updated and if not its going to make it very expensive for large coin orders.
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As a buyer here on the Sr this hasn't been a huge problem for me in the past but with the current rise of the coins price I feel something needs to be done. The way I read before that SR value's the coin is by using the mt. gox weighted average and checking it once a day. This is not cutting it. right now it would cost 141 to purchase a coin and the weighted average 123. So even though you may buy the coins now and transfer them straight here and spend them right away you are losing 18 bucks a coin, roughly. If you purchase larger amounts this 18$ quickly adds up.
Would it be too much to ask for the SR to update its price more often or more closely with the current purchase price? If the SR doesn't people like me will have to message there sellers and be like hey, your product is supposed to be 1300$ but since the SR won't keep up with the market is costing me 1480$. Can you lower the dollar amount of your auction to reflect the current price? Then it creates more work for the seller and buyer. It also discourages people from making larger purchases.
I am open to better ideas but I think the current system needs updated and if not its going to make it very expensive for large coin orders.
The Silk Road price adjusts to the Mt.Gox weighted average every 5 - 10 minutes, not once a day. That is, it plays 'catch-up'. A forum member, lelmeriodici, posted a topic advising you of how to calculate when to make a purchase by following various Bitcoin charts.
You can find that topic here:
http://dkn255hz262ypmii.onion/index.php?topic=138695.0
- grahamgreene
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Yeah they update the price very quickly. The amount of dollars in my account displayed on the top of the screen is rising nearly every time I open a new page.
It's pretty cool getting all those free dollars.
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As a buyer here on the Sr this hasn't been a huge problem for me in the past but with the current rise of the coins price I feel something needs to be done. The way I read before that SR value's the coin is by using the mt. gox weighted average and checking it once a day. This is not cutting it. right now it would cost 141 to purchase a coin and the weighted average 123. So even though you may buy the coins now and transfer them straight here and spend them right away you are losing 18 bucks a coin, roughly. If you purchase larger amounts this 18$ quickly adds up.
Would it be too much to ask for the SR to update its price more often or more closely with the current purchase price? If the SR doesn't people like me will have to message there sellers and be like hey, your product is supposed to be 1300$ but since the SR won't keep up with the market is costing me 1480$. Can you lower the dollar amount of your auction to reflect the current price? Then it creates more work for the seller and buyer. It also discourages people from making larger purchases.
I am open to better ideas but I think the current system needs updated and if not its going to make it very expensive for large coin orders.
The Silk Road price adjusts to the Mt.Gox weighted average every 5 - 10 minutes, not once a day. That is, it plays 'catch-up'. A forum member, lelmeriodici, posted a topic advising you of how to calculate when to make a purchase by following various Bitcoin charts.
You can find that topic here:
http://dkn255hz262ypmii.onion/index.php?topic=138695.0
- grahamgreene
Thanks for the link it was very useful and I now understand a better/smarter way of doing business.