Silk Road forums

Discussion => Newbie discussion => Topic started by: seventoes on March 06, 2013, 03:18 pm

Title: Thrilled to find SR last month, but with BTC at-$46 per BTC who can stay?
Post by: seventoes on March 06, 2013, 03:18 pm
SO Worried about about the rising prices--up $30 in just one month--$15 in just a few days. I looked a few days ago when it was at 32 and today its at $46.  I'm not trying to sound like broken record here but I'm not seeing a lot about this from anyone else--I'm devastated.  Why? Because I love this place and I'll be forced away.  I can only buy bitcoins twice a month-- I'm on fixed income and I know a lot of people are. I shop for medication I CAN NOT  get elsewhere--or if I did, I got major ripped off from someone in India. But even if it was or is for leisure, it one wonderful, amazing place--and the people are great!  I don't want to be forced away.

 Right now I'm waiting on money due in the 14th and if BTC's are $50 or more a piece, I'll only be able to get a couple. The Vendor prices ARE NOT fluctuating by the USD. and I'm not seeing them decline any.  I've heard it is an option that a vendor can have pricing do that but of course I'm not sure.  If the prices were based on the USD instead of BTC I would be happy...I'm just really bummed by the whole BTC problem--because I want to be able to afford it--I'm envisioning $100 BTC's very soon and this site being completely out of my reach.  I get why BTC's are used but, I wish it was "tit for tat" "dollar" for "dollar" ($1 = 1btc) in the vendors product pricing.  I am very worried this means SR is headed toward being more for those who have it than those who have not.  Since I'm forced to post in the Newbie forum, the SR Veteran vendors probably won't see this or hear my "concerns" anyway.  But if anyone else out there shares my concerns....I hear you.  You know, I'm actually praying that the bitcoin prices drop down to dollar for dollar--(I was shocked they were at $19.00, but I could handle that....$50 btc's?? No way. :'( :-[ :(
Title: Re: Thrilled to find SR last month, but with BTC at-$46 per BTC who can stay?
Post by: AlteredConscious on March 06, 2013, 03:26 pm
Just wait. Once people stop bying them theyll drop.
Title: Re: Thrilled to find SR last month, but with BTC at-$46 per BTC who can stay?
Post by: SelfSovereignty on March 06, 2013, 03:48 pm
The price has spiked so rapidly that the bi-daily average used by SR (it's something like two updates a day, I don't really have a clue though frankly) is significantly lower than the actual bid & ask prices.  The average will catch up soon enough.  You may just end up waiting a day or two, but there's not much to be done about that.

Code: [Select]
MtGox (USD)
--------------
Ask:    48.94
Bid:    48.89
High:   49.00
Avg:    43.53
Low:    39.00
Title: Re: Thrilled to find SR last month, but with BTC at-$46 per BTC who can stay?
Post by: NImrod4154 on March 06, 2013, 03:52 pm
Any vendor who changes their prices based on the BTC is ridiculous. I have only ever gone through vendors who set their products in US Dollars and do not change that.

Any vendor trying to fluctuate their prices with the value of BTC is not worth even looking at. Bad business and they will be replaced by people who have steady US $ pricing that does not fluctuate.

Fluctuating by BTC is the number one reason to make me not buy your product. It is ridiculous. You are selling your product for CASH and it should not change. Just because BTC is the accepted currency doesn't mean you are going to trick most people.

Change your settings in SR to show Dollars instead of bitcoins. Made life much easier for me.
Title: Re: Thrilled to find SR last month, but with BTC at-$46 per BTC who can stay?
Post by: zmmz1111 on March 06, 2013, 04:14 pm
Wow, been here for 16 months and did not know you could do that. Great call!
Title: Re: Thrilled to find SR last month, but with BTC at-$46 per BTC who can stay?
Post by: seventoes on March 06, 2013, 04:14 pm
I agree with you there--I wish they all would--unfortunately, many vendors do not do that--guess it is an option for them but many do not--I have spent hours daily watching vendors, pricing, and the btc value and many vendors haven't changed their prices in the last $25 btc increases (approx. the last two weeks)--personally I feel it is the only honest way to do business....but, I'm just a buyer and a broke one at that!
Title: Re: Thrilled to find SR last month, but with BTC at-$46 per BTC who can stay?
Post by: DiamondDweller on March 06, 2013, 04:25 pm
As a vendor i would say that of course prices should be fixed to dollars. All mine are. I dont think it would make sence to fix them in BTC when the price fluctuates so much. Im buying my products in the real world and are paying real dollars. So i expect a profit in dollars. The fact that we have to use BTC as a currency is just a matter of security in my opinion. Hedgin or unhedgin is a nother matter :-) I think vendors with a price fixed in BTC will lose business fast.
Title: Re: Thrilled to find SR last month, but with BTC at-$46 per BTC who can stay?
Post by: dirkwellington on March 06, 2013, 04:30 pm
Yup, they are in a bubble right now. It will pop, and prices will become more reasonable again. Have patience, and you won't get ripped off.
Title: Re: Thrilled to find SR last month, but with BTC at-$46 per BTC who can stay?
Post by: Ulaanbaatar on March 06, 2013, 04:35 pm
I want to use Silk Road for medicine too. I guess one could make the purchase immediately after buying the coins so that deflation wouldn't intervene. Of course, one still needs to find a seller selling in dollars, not in BTC.
Title: Re: Thrilled to find SR last month, but with BTC at-$46 per BTC who can stay?
Post by: zmmz1111 on March 06, 2013, 04:40 pm
Do you know what a bubble is? If so, please explain to me how this is a bubble. Because I don't see it. And how would you be getting ripped off? With the way prices have been rising, if you bought btc in the last two months you may have made a fortune. Is their a possibility it will drop? Sure, just as every investment or currency. Is their a possibility that it will continue to go up and may never drop below $46/btc ever again? Yep and I think this will be the case. Especially with there being more and more demand for coins and the supply not being able to keep up with the demand increase. If you buy your coins and gear the same day....then you have nothing to worry about. I find it strange that people don't understand this.
Title: Re: Thrilled to find SR last month, but with BTC at-$46 per BTC who can stay?
Post by: nacho on March 06, 2013, 04:42 pm
Just a little heads up.  You don't have to buy whole bitcoins.  You can buy .5 , .2411, .1 , or 23.23543.   Saying you will be forced out of being able to afford them is ridiculous.   You only have to buy as much as you need. 
Title: Re: Thrilled to find SR last month, but with BTC at-$46 per BTC who can stay?
Post by: Ulaanbaatar on March 06, 2013, 05:04 pm
Just a little heads up.  You don't have to buy whole bitcoins.  You can buy .5 , .2411, .1 , or 23.23543.   Saying you will be forced out of being able to afford them is ridiculous.   You only have to buy as much as you need.

I think the point was that since some sellers don't compare their BTC prices against dollar, the Silk Road prices go up in dollars and this gets expensive.

But I agree with you two, I don't see it really as a problem of any sort.
Title: Re: Thrilled to find SR last month, but with BTC at-$46 per BTC who can stay?
Post by: Jediknight on March 06, 2013, 05:41 pm
Ya,  prices here are fixed to the US dollar.  So you won't loose or gain anything regardless of bit coin prices.

In fact , the higher they go the better.   You know you can buy 0.01 bitcoin right?   It doesn't matter.

Anyhow, I use this site for medication too.  You will be fine.
Title: Re: Thrilled to find SR last month, but with BTC at-$46 per BTC who can stay?
Post by: 57 on March 06, 2013, 05:46 pm
From what I understand, the price of BTC shouldn't matter since the sellers list their products in USD$ and SR converts the price into BTC


57
Title: Re: Thrilled to find SR last month, but with BTC at-$46 per BTC who can stay?
Post by: anonom on March 06, 2013, 05:49 pm
It's not such a big deal !

You really should avoid vendors indexing their prices on BTC. It's barely a scam in the current market... And I wouldn't believe you can't find a weed seller with good feedbacks and USD prices on SR.
You even probably have a quality domestic seller.

Furthermore, for some "smart" people, the latest increase has been quite beneficial. So if you pay attention nearly daily to the BTC price and buy at the right time, you may even end up buying more for less cash money. I bought few BTCs some weeks ago and of course they took quite a lot of value. Yet, my favorite vendors are indexed to USD abd their price was decreasing as my wallet vallue was increasing.

Keep calm and buy at the right time.
Title: Re: Thrilled to find SR last month, but with BTC at-$46 per BTC who can stay?
Post by: MrUKASH on March 06, 2013, 05:55 pm
fdf
Title: Re: Thrilled to find SR last month, but with BTC at-$46 per BTC who can stay?
Post by: bigpokey on March 06, 2013, 06:43 pm
Change your settings in SR to show Dollars instead of bitcoins. Made life much easier for me.
God, this. I can't recommend doing this enough, it made life on SR so much easier for me.
Title: Re: Thrilled to find SR last month, but with BTC at-$46 per BTC who can stay?
Post by: Magic Man on March 06, 2013, 07:12 pm
The price of BTC doesn't affect the listed price of an item. BTC fluctuation just affects to investing or those who have a balance of BTC sitting. I wish I would have thrown a couple grand into mtgox last month when it was like $12/btc
Title: Re: Thrilled to find SR last month, but with BTC at-$46 per BTC who can stay?
Post by: dirkwellington on March 06, 2013, 08:07 pm
Do you know what a bubble is? If so, please explain to me how this is a bubble. Because I don't see it. And how would you be getting ripped off? With the way prices have been rising, if you bought btc in the last two months you may have made a fortune. Is their a possibility it will drop? Sure, just as every investment or currency. Is their a possibility that it will continue to go up and may never drop below $46/btc ever again? Yep and I think this will be the case. Especially with there being more and more demand for coins and the supply not being able to keep up with the demand increase. If you buy your coins and gear the same day....then you have nothing to worry about. I find it strange that people don't understand this.

I could be wrong, but when bit coin values more than double in the span of less than one month (priced in USD) I think that might be due for a pullback. That's just my opinion though. Take it for what it's worth.
Title: Re: Thrilled to find SR last month, but with BTC at-$46 per BTC who can stay?
Post by: MDUK on March 06, 2013, 08:37 pm
I agree with you there--I wish they all would--unfortunately, many vendors do not do that--guess it is an option for them but many do not--I have spent hours daily watching vendors, pricing, and the btc value and many vendors haven't changed their prices in the last $25 btc increases (approx. the last two weeks)--personally I feel it is the only honest way to do business....but, I'm just a buyer and a broke one at that!

Which sellers?

Outside of Ebooks, I don't know of anyone (myself included) that fixes their prices in BTC...
Title: Re: Thrilled to find SR last month, but with BTC at-$46 per BTC who can stay?
Post by: DobolinaFunk on March 06, 2013, 08:49 pm
Unreal.. they just keep rising :(
Title: Re: Thrilled to find SR last month, but with BTC at-$46 per BTC who can stay?
Post by: anonom on March 06, 2013, 08:51 pm
Yup !

I would bet this huge increase of the BTC price in the past 7 days will probably slowly go back to a more normal value.

But, if we take the monthly average value of BTC, it seems to me that it constantly and slowly keeps getting more value.

Sometimes I really feel like BTC are actually a great way to invest money.

Sure it fluctuates a  lot.
Of course it can lose all of it's value in a very short time.
Yet if you look at the value throughout latest months, it seems like a very stable currency in it's growth.
Title: Re: Thrilled to find SR last month, but with BTC at-$46 per BTC who can stay?
Post by: NtrsBac on March 07, 2013, 02:23 am
tru tru
Title: Re: Thrilled to find SR last month, but with BTC at-$46 per BTC who can stay?
Post by: graffix on March 07, 2013, 05:42 am
of course when I buy bitcoins the very next day they start dumping in price bigtime.... fuck..never get any good luck with god damn money.
Title: Re: Thrilled to find SR last month, but with BTC at-$46 per BTC who can stay?
Post by: MDUK on March 07, 2013, 06:26 am
Do you know what a bubble is? If so, please explain to me how this is a bubble. Because I don't see it. And how would you be getting ripped off? With the way prices have been rising, if you bought btc in the last two months you may have made a fortune. Is their a possibility it will drop? Sure, just as every investment or currency. Is their a possibility that it will continue to go up and may never drop below $46/btc ever again? Yep and I think this will be the case.
When people make statements like this in the face of incredibly rapid price rises that have no logical explanation, I go short and make a fortune.
The fact that you almost perfectly timed the top of the bubble makes it all the more entertaining.
Title: Re: Thrilled to find SR last month, but with BTC at-$46 per BTC who can stay?
Post by: Ephemeral on March 07, 2013, 07:00 am
I saw BTC get a mention on RT a few days ago. Respect the almighty BTC!
Title: Re: Thrilled to find SR last month, but with BTC at-$46 per BTC who can stay?
Post by: MrAnonymous on March 07, 2013, 08:45 am
SO Worried about about the rising prices--up $30 in just one month--$15 in just a few days. I looked a few days ago when it was at 32 and today its at $46.  I'm not trying to sound like broken record here but I'm not seeing a lot about this from anyone else--I'm devastated.  Why? Because I love this place and I'll be forced away.  I can only buy bitcoins twice a month-- I'm on fixed income and I know a lot of people are. I shop for medication I CAN NOT  get elsewhere--or if I did, I got major ripped off from someone in India. But even if it was or is for leisure, it one wonderful, amazing place--and the people are great!  I don't want to be forced away.

 Right now I'm waiting on money due in the 14th and if BTC's are $50 or more a piece, I'll only be able to get a couple. The Vendor prices ARE NOT fluctuating by the USD. and I'm not seeing them decline any.  I've heard it is an option that a vendor can have pricing do that but of course I'm not sure.  If the prices were based on the USD instead of BTC I would be happy...I'm just really bummed by the whole BTC problem--because I want to be able to afford it--I'm envisioning $100 BTC's very soon and this site being completely out of my reach.  I get why BTC's are used but, I wish it was "tit for tat" "dollar" for "dollar" ($1 = 1btc) in the vendors product pricing.  I am very worried this means SR is headed toward being more for those who have it than those who have not.  Since I'm forced to post in the Newbie forum, the SR Veteran vendors probably won't see this or hear my "concerns" anyway.  But if anyone else out there shares my concerns....I hear you.  You know, I'm actually praying that the bitcoin prices drop down to dollar for dollar--(I was shocked they were at $19.00, but I could handle that....$50 btc's?? No way. :'( :-[ :(


Oh my god... Most prices are pegged to the $ amount. Meaning if a BTC was $1 and a product sold for $100, then you would need to pay 100BTC.  But, then if the price suddenly rose to $100 a BTC, you'd only pay 1BTC.

It's not like you would still be paying a 100 coins each worth a $100 for a gram of meth, Jesus, God, Mary and Joseph.

I don't understand why nobody understands this. If you don't want to lose money, only buy BTC when you need them.

The only problem is for people who have large amounts in a wallet off of SR, so they can't hedge the funds (Investors, vendors who move their coins etc..)

Sorry if I'm being a dick, it's just I've seen this kind of thread about 45 times in 24 hours.
Title: Re: Thrilled to find SR last month, but with BTC at-$46 per BTC who can stay?
Post by: seventoes on March 13, 2013, 05:39 am
Yeah-you kinda sound like it--when I started this thread--the second time in 4 weeks, my point is that the average person LIKE MYSELF-fixed income, monthly social secuirity-I'm buying for chronic pain, no insurance-First methadone I buy cost me 2.22 btc for 10 methadone pills and I paid 19 per bitcoin, then following week price says 2.22 btc buys 10 pills of methadone but I paid 27 per btc. --Then, the last time I go and buy btc and the price is now $40 dollars and I am still paying 2.22 btc for 10 pills.  I always buy bitcoins and immediately spend them on SR--my point is that I am still paying more for bitcoins and therefore paying more for the pills I need--the price has more than doubled.
Title: Re: Thrilled to find SR last month, but with BTC at-$46 per BTC who can stay?
Post by: SoupN on March 13, 2013, 08:43 am
this is a great thread 10/10 ty
Title: Re: Thrilled to find SR last month, but with BTC at-$46 per BTC who can stay?
Post by: Mescstars on March 13, 2013, 09:04 am
If I'm not mistaken I think one reason why for the incredible rise in cost for btc is because of shady BTC dealers who constantly seek to raise the price for bitcoins and purchases through them. so there may be a bit of competing amongst bitcoin dealers here.  the more one raises the prices for btc by usd the higher the costs sore.  ultimately the rip offs will defeat themselves. and their profits will vanish.   one thing the btc market needs is like a gold/silver backed standard medium which can set a  stabilizing rate at which prices aren't allowed to raise higher.  someone in the btc financial sector will I believe come up with a way to do this and insure some stability and fairness.  ;)
Title: Re: Thrilled to find SR last month, but with BTC at-$46 per BTC who can stay?
Post by: talking monkey on March 13, 2013, 09:07 am
I hear ya. I just recently got 5 BTC for $230! Ouch