Silk Road forums
Support => Technical support => Topic started by: khlong boat on July 09, 2011, 04:03 am
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On the settings page there is an option to view prices either in bitcoin or in dollars. I have noticed that the bitcoin price when multiplied by the current bitcoin dollar value is higher than the listed dollar price.
For instance, the same item is listed at $326 in dollars and ฿24.25 in bitcoins. But ฿24.25 multiplied by $14.25 (current bitcoin value) equals $345. So the bitcoin price is $19 higher than the listed dollar price.
Can anyone explain why this is????
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I've asked this as well in another thread and haven't received a logical answer. Someone did suggest it was calculating an extra 5% on top as that is the percentage of the transaction that the Silk Road system keeps. However in your example the difference is more like 6% not 5%.
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SR uses the 24h average price for calculation. The rate at the bottom is the live exchange rate.
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SR uses the 24h average price for calculation. The rate at the bottom is the live exchange rate.
That makes a lot more sense. When I checked the btc vs the dollar, there was a pretty big difference. (this was during last weeks big dip).
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theres a 5% markup added to all items listed which is sr's cut. and yes sr uses 2 numbers for bitcoin conversion, average and mt gox price, i thought the number at bottom of page was average and then at check out it uses actual mt gox price. could have that backwards i guess. although this makes more sense.
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SR uses the 24h average price for calculation. The rate at the bottom is the live exchange rate.
that's correct
I've asked this as well in another thread and haven't received a logical answer. Someone did suggest it was calculating an extra 5% on top as that is the percentage of the transaction that the Silk Road system keeps. However in your example the difference is more like 6% not 5%.
So's that :)