Silk Road forums

Discussion => Security => Topic started by: BenCousins on July 13, 2012, 12:41 am

Title: the Fucking BTC price
Post by: BenCousins on July 13, 2012, 12:41 am
is going through the Fucking Roof
Title: Re: the Fucking BTC price
Post by: midlandsmafia on July 13, 2012, 01:08 am
anybody thinking it might go down to what it was like 2 month ago ? like £3  or whatever the dollar equivalent was cba working it out.
Title: Re: the Fucking BTC price
Post by: BenCousins on July 13, 2012, 01:42 am
I imagine the BTC  price ias very heavily attached to SR (as much as libs will protest otherwise) and SR is growing and growing and keeps getting more publicity so i can imagine it only climbing further. I can see SR and BTC becoming a full movement (maybe)

Ben
Title: Re: the Fucking BTC price
Post by: Delta11 on July 13, 2012, 06:01 am
I imagine the BTC  price ias very heavily attached to SR (as much as libs will protest otherwise) and SR is growing and growing and keeps getting more publicity so i can imagine it only climbing further. I can see SR and BTC becoming a full movement (maybe)

Ben
It would seem that way but it actually gets bigger than SR.
Title: Re: the Fucking BTC price
Post by: zero effect on July 13, 2012, 06:24 am
Just got some yesterday. Hopefully it will settle down after a while.
I havent noticed, but do vendors reduce prices a little when the BTC is so high?
Title: Re: the Fucking BTC price
Post by: DwarfSeeker on July 13, 2012, 06:52 am
Just got some yesterday. Hopefully it will settle down after a while.
I havent noticed, but do vendors reduce prices a little when the BTC is so high?

vendors can set their prices to USD so they actually track USD not BTC
Title: Re: the Fucking BTC price
Post by: brassy9287 on July 13, 2012, 07:23 am
Meh i still dont kno anything about BTC >_> wish someone would pm me with everything i need to kno
Title: Re: the Fucking BTC price
Post by: OG1973 on July 13, 2012, 09:16 am
If your buying from Vendors who fix price to $US then who really cares about the upward trend of BitCoin ?

Or am i missing something  ???

Though more of a concern i guess if your trading/vending in coin.
Title: Re: the Fucking BTC price
Post by: 4.20 on July 13, 2012, 09:19 am
Meh i still dont kno anything about BTC >_> wish someone would pm me with everything i need to kno
https://en.bitcoin.it/wiki/FAQ
Title: Re: the Fucking BTC price
Post by: goangod on July 13, 2012, 10:00 am
i dont fully understand the BTC
i thought that vendors can hedge the price of goods to the BTC,so when the rate rises the prices for goods are adjusted automatically to compensate the rise and fall of the BTC rate,,,,,,am i correct ?? if not then im now worried about the rise aswell,,once it gets too high peeps simply wont use the site anymore,there has to come a point when its just too expensive to shop on SR no matter how good the quality and service
Title: Re: the Fucking BTC price
Post by: BenCousins on July 13, 2012, 10:50 am
its fucking cheap for us aussies
Title: Re: the Fucking BTC price
Post by: Limetless on July 13, 2012, 11:43 am
i dont fully understand the BTC
i thought that vendors can hedge the price of goods to the BTC,so when the rate rises the prices for goods are adjusted automatically to compensate the rise and fall of the BTC rate,,,,,,am i correct ?? if not then im now worried about the rise aswell,,once it gets too high peeps simply wont use the site anymore,there has to come a point when its just too expensive to shop on SR no matter how good the quality and service

That is an option according to the vendors discretion, personally I hedge because I see it as fairer on the client but some don't. The way to tell is to watch the shift in BTC prices and to see if a vendors prices move with it. 
Title: Re: the Fucking BTC price
Post by: goangod on July 13, 2012, 11:51 am
i dont fully understand the BTC
i thought that vendors can hedge the price of goods to the BTC,so when the rate rises the prices for goods are adjusted automatically to compensate the rise and fall of the BTC rate,,,,,,am i correct ?? if not then im now worried about the rise aswell,,once it gets too high peeps simply wont use the site anymore,there has to come a point when its just too expensive to shop on SR no matter how good the quality and service

That is an option according to the vendors discretion, personally I hedge because I see it as fairer on the client but some don't. The way to tell is to watch the shift in BTC prices and to see if a vendors prices move with it.
there you have it,,the vendors discretion,,i will deffo have a good look around the vendors and maybe in future pick vendors who do hedge where possible,,im fairly new to SR so whats the previous state of the BTC from the start to now ? seems like it shifts quite a bit more than average currency
what pisses me off is when i pay a premium but do not receive premium goods,its just a fuckin hassle to go through all the bollox of  a  re ship etc etc etc
Title: Re: the Fucking BTC price
Post by: LouisCyphre on July 13, 2012, 11:55 am
I imagine the BTC  price ias very heavily attached to SR (as much as libs will protest otherwise) and SR is growing and growing and keeps getting more publicity so i can imagine it only climbing further. I can see SR and BTC becoming a full movement (maybe)

I'm pretty sure someone looked into this a couple of months (or more) ago on the Bitcoin forums.  They came to the conclusion that the biggest influence on the BTC value was trading it against other currencies and the second biggest influence was SR (and other "illicit" purposes).  Regular use of Bitcoin came a distant third.
Title: Re: the Fucking BTC price
Post by: Limetless on July 13, 2012, 11:57 am
i dont fully understand the BTC
i thought that vendors can hedge the price of goods to the BTC,so when the rate rises the prices for goods are adjusted automatically to compensate the rise and fall of the BTC rate,,,,,,am i correct ?? if not then im now worried about the rise aswell,,once it gets too high peeps simply wont use the site anymore,there has to come a point when its just too expensive to shop on SR no matter how good the quality and service

That is an option according to the vendors discretion, personally I hedge because I see it as fairer on the client but some don't. The way to tell is to watch the shift in BTC prices and to see if a vendors prices move with it.
there you have it,,the vendors discretion,,i will deffo have a good look around the vendors and maybe in future pick vendors who do hedge where possible,,im fairly new to SR so whats the previous state of the BTC from the start to now ? seems like it shifts quite a bit more than average currency
what pisses me off is when i pay a premium but do not receive premium goods,its just a fuckin hassle to go through all the bollox of  a  re ship etc etc etc

You have just gotta learn to pick your vendors mate, that's a bit of s skill in itself. :)
Title: Re: the Fucking BTC price
Post by: theonetheonlyandy on July 13, 2012, 12:03 pm
a little SR history. the reason hedgeing came about was because btc would change, at one point, every min. it went from 5 6 bucks all the way to 30 in a matter of days. sometimes you would see it drop right after a purchase or go up. you never knew what was going to happen. then hacks started happening someone stole massive amount of coin that rose the price. then sold them and price bottomed out. like 1 or 2 a coin. ever since then they have tried to fix the coin. so no i do not believe @ 7.2 whatever is right is not high. you guys have had it good. you already have securities we never had. you have protection we never had. thats why SR charges the fees. try not to complain so much. we have had worse. its all in the archives. its all on here.