Silk Road forums
Discussion => Newbie discussion => Topic started by: livestr0ng on January 17, 2013, 02:45 am
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ok I don't get how the price on product listings work. Obviously it can't only be tied purely to BTC because if BTC prices nosedive, everybody would have a hey day. So how is this avoided? I prefer to view things on SR in USD so I see the money in my account fluctuate. probably wasn't crystal clear on my question but can somebody please shed some light on this for me? would be much appreciated.
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You can change it in your settings, click on account, then click on settings.
Also with BTC fluctuations, when it goes up (most of the vendors prices go down, when it goes down, BTC prices go up)
So it's basically the same for you, if you're buying coins at the times when you want ur drugs. Only time it will change is if you have coins sitting there, obviously then you're either gonna make a profit, or lose out, depending on which way the market goes
Is that clear enough? I couldn't be bothered explainin it better tbh... lol
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click account > settings (bottom right hand corner) > then click display prices in dollars hope this helps
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i assumed that the seller sets the listing at USD, and then the post shows the converted USD --> BTC value.
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I believe sellers can choose to hedge (bind) the price of their product to the dollar instead of the bitcoin, to avoid fluctuation. The value of the bitcoin on SR is based on the MtGox-rate - however, it's not completely accurate, and seems to be a little behind the actual rate.
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Yeah well, either way the vendor can set it to fluctuate or can have a set price (i'm pretty sure)
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I still don't get why they would really want fluctuation but I guess that is why I'm a newbbb
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Luckily for me my favorite venders prices have been going down, while BTC has been going up
peace~Love
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So it's basically the same for you, if you're buying coins at the times when you want ur drugs. Only time it will change is if you have coins sitting there, obviously then you're either gonna make a profit, or lose out, depending on which way the market goes
That's what I'm looking for. Thank you! Can anybody else attest to it not mattering when I buy BTC if I quickly spend them? I don't think it matters if they're hella expensive cuz I believe at least some sellers "hedge (bind)," in northsouth's words, the set BTC price to the dollar value. In other words, if i want something on SR, is it a waste of my time for BTC prices to go down before getting BTC?
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thx guys that was actually quite helpfull... i knew about the relation of bitc to$ but didnt know how to change it..:) x
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As someone posted earlier in this thread if you are spending your coins the day you buy them it makes no difference, if however you buy when they are up (like today) and then leave them in your wallet and the price drops you lose out, simple.
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So, SR protects us from BTC fallout, in the event of a thermodynamically-inevitable "crash"?
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So, SR protects us from BTC fallout, in the event of a thermodynamically-inevitable "crash"?
yes :)
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Good luck man. Tough one for newbies.