Silk Road forums
Discussion => Silk Road discussion => Topic started by: badniff on March 16, 2013, 11:14 pm
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The last month the bitcoin has almost doubled in value. If memory serves me right it has more than tripled since the year began! Still, in silk road I can only see two decimals even though bitcoins are infinitely divisible. This means at most that we can deal in centibitcoins. this is enough by most standards, but if the value of bitcoins keep rising, then smaller amounts might become relevant. Adding another decimal, thus dealing in millibitcoins, seems like a necessary upgrade sooner or later.
Vendors might use this to their advantage by milli-adjusting prices to make some extra dollars, or lowering prices just enough to be cheaper to the closest competitor. How it might affect the buyers, I can only begin to speculate.
Honestly, I'd love to see microbitcoins soon, but those are faaar off ;)
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I'm starting to think few vendors care about us small time buyers. "Bulk bulk bulk" yeah, its fairly priced bulk, but my drug budget is never more than $100 a month. And it almost all goes into weed anyways.
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I agree badniff, a 3rd or 4th decimal place wouldn't hurt, even at today's rates, but will definitely be a good idea in the future.
Also, Trappy, we are here to serve the small time buyer exclusively! Our largest listing size is for an Oz, and currently 1/2 Oz is as large as we are selling. So if shrooms are your thing, come on by! We are adding a free 2g to the next 3 orders, even 1/8 Oz orders as described here:
http://dkn255hz262ypmii.onion/index.php?topic=37730.msg907582#msg907582
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Should really try viewing as dollar instead of bit coin. It's better to see prices as dollar amounts . It looks better too :-) In settings. In account . M
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Should really try viewing as dollar instead of bit coin. It's better to see prices as dollar amounts . It looks better too :-) In settings. In account . M
Not really a good solution since only a minority of the worlds population use dollars. I myself have only held a dollar in my hands once and that was an egyptian dollar ;) It is easier to compare the value of the bitcoin to my own currency, and also; I love bitcoins. I don't really get why more currencies aren't represented on silk road, but neither do I see a need for them to be.
edit: Turns out there is no such thing as egyptian dollars. So it seems I've never held a dollar at all.
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Oh, I see. . .
I used to have that problem too, then they gave me medication and things have been quiet since. :-)
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I agree they should add at least one decimal to the current format. But no more yet. Sure you can divide a BTC indefinitely, but in reality it's only the first five or so decimals that equate to measurable currency. Even if the value were to rise to $1k USD the value of 0.001(one thousandth) would only be $1. At the current rate a third decimal place would allow vendors to control prices down to almost a cent. I don't think much more control than that is needed.
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I'm not sure how it happened but somehow I've ended up with an extra .005 BTC in my account.