Silk Road forums
Discussion => Newbie discussion => Topic started by: FlyingFuck on May 07, 2013, 08:14 pm
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How often do prices adjust on SR? Bitcoin has gone up enough in value again that I should be able to afford what I was going to order but I'm stuck waiting for the prices to adjust again.
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How did prices just go up again while the value of btc is rising?!
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It was my understanding that prices were hedged and changed with the change of BTC. Maybe message your vendor directly? My .02
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From my understanding it is the vendors choice weather or not to hedge their items. Could a mod possibly confirm this? Actually been curious about it for a while.
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How often do prices adjust on SR? Bitcoin has gone up enough in value again that I should be able to afford what I was going to order but I'm stuck waiting for the prices to adjust again.
Hi FlyingFuck,
Silk Road uses a 24 hour moving average to calculate the value of Bitcoin on the site. This helps protects against Bitcoin volatility and constant price swings; for the latest value that Silk Road is using you can either put an item in your cart and look at the total (e.g. $1,275.06 at $107.3281 per Bitcoin) or visit mtgoxlive.com/orders
The vast majority of vendors price their listings in USD - this means that their value stays the same, but their cost in Bitcoin will vary depending on the price of Bitcoin at any given time.
I would recommend that you go to your Account, click "account settings" in the box on the right hand side of the page, check "display prices in dollars" and then click "Update profile". The site is much easier to use this way as you can view all prices in USD.
From my understanding it is the vendors choice weather or not to hedge their items. Could a mod possibly confirm this? Actually been curious about it for a while.
Regarding hedging, this is an entirely separate concept and is explained in detail in the Buyer's Guide here:
http://dkn255hz262ypmii.onion/wiki/index.php?title=Buyer%27s_Guide#Escrow_hedge
Libertas
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Okay this vendor seems to use the moving average so I'll just wait untill tomorrow so it evens out some more.
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just be patient! saved me $30 :-*
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Okay this vendor seems to use the moving average so I'll just wait untill tomorrow so it evens out some more.
I think there are only 6 or 7 vendors that actually price their products in Bitcoin, and it's unlikely you'll ever encounter them as I doubt they very do much business as a result.
The 24 hour moving average updates constantly, but you can learn how to time your transactions in order to get the most out of your Bitcoin in lelmeriodici's thread here:
http://dkn255hz262ypmii.onion/index.php?topic=138695.0
Libertas
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Thanks for the info Libertas I'll definitely keep an eye on those charts.
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No problem at all! :)