Silk Road forums

Support => Customer support => Topic started by: Heizenberg on March 12, 2013, 06:08 pm

Title: Had over $1000 and now I am under $1000 on SR (My Currency shows as $'s not BTC)
Post by: Heizenberg on March 12, 2013, 06:08 pm
Hey, can anyone help me out I am just a bit confused, I recently bought $1100 worth of bitcoins yesterday and it arrived smoothly but I have my currency in SR set to convert/show into Dollars instead of BTC, I had about $56 dollars prior to the $1100 so technically shouldn't I have had $1156? anyways, I notice my dollars keep dropping and is now at $950 over night.. What I am wondering is, I know BTC Fluctuates and all, but shouldn't $1000 always be $1000?

the purchase I planned on making yesterday is screwed up because my money went down so drastically that it appears I have to put in an extra couple hundred to make up for it, my account history shows I only had 1 deposit into my account which was my BTC.

Anyone able to chime some light into this? My BTC is staying the same though just over 21BTC. I am so confused..
Title: Re: Had over $1000 and now I am under $1000 on SR (My Currency shows as $'s not BTC)
Post by: MDUK on March 12, 2013, 06:18 pm
There was a massive crash yesterday due to a blockchain fork - at one point the price had gone from $48.50 to less than $37 in a couple of hours.

So yeah, it's not SR's fault, basically just a market crash  ;)
Title: Re: Had over $1000 and now I am under $1000 on SR (My Currency shows as $'s not BTC)
Post by: jacklinks on March 12, 2013, 06:20 pm
Bitcoins dropped last afternoon/overnight. What was once worth about $47 is now worth $43

21 coins x $47 = $987

21 coins x $43 = $903

So as you can see when the price of BTC drops so too does your buying power. You effectively lost money just like you might in the stock market.
Title: Re: Had over $1000 and now I am under $1000 on SR (My Currency shows as $'s not BTC)
Post by: Heizenberg on March 12, 2013, 06:28 pm
Crap, that just ruined my day, man there goes my profits lmao. Thanks a lot guys for letting me know, the company I buy BTC from had their site last night closed after I made my purchase for BTC saying they can't sell until the fork issue is fixed, now they are selling/buying BTC as usual so I assume it has fixed, does this mean BTC value will slowly rise again?
Title: Re: Had over $1000 and now I am under $1000 on SR (My Currency shows as $'s not BTC)
Post by: jacklinks on March 12, 2013, 06:39 pm
Very likely.. I'd hold them for a couple days
Title: Re: Had over $1000 and now I am under $1000 on SR (My Currency shows as $'s not BTC)
Post by: Heizenberg on March 12, 2013, 07:43 pm
Awesome, thank you everyone I appreciate the timely responses, I will +1 you all for being helpful. Have a good day guys.
Title: Re: Had over $1000 and now I am under $1000 on SR (My Currency shows as $'s not BTC)
Post by: samesamebutdifferent on March 12, 2013, 08:17 pm
Sit on them, they should bounce back by the middle of next week.
Title: Re: Had over $1000 and now I am under $1000 on SR (My Currency shows as $'s not BTC)
Post by: Heizenberg on March 13, 2013, 05:08 am
Sadly I have to make a purchase on Friday no matter what >.< hopefully it increases by then haha