Silk Road forums
Discussion => Silk Road discussion => Topic started by: twon on August 01, 2012, 12:23 am
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MT. Gox is up to 9.24 and until SR catches up I'm holding off on a purchase
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Thank you
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:waves a magic wand:
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Yes, I am haveing the exact same concern here - and also am looking to make a purchase, but am holding off. Can nothing be done to offset the instability issue presented by the fluctuation of Bitcoin rates? Because, what will then happen if Bitcoin rates continue to rise indefinately, which some are expecting to happen, indeed? Can there be some kind of medium between the parties of sale and purchase? For example, sellers name their price in terms of a normal global currency (for example, Dollars), and then the Bitcoin price is adjusted in relation to that named price? That would seem to solve the issue, although I am of course skeptical that such action would be taken. However, I am hopeful that SOMETHING is done to deal with this, or otherwise, do you suppose that sellers simply will adjust THEIR selling price to account for the rising bitcoin rates? Is there something about the 'Escrow' system I am missing here? Any answers are greatly appreciated, Thank You.
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hiya twon!!
waves :)
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hiya twon!!
waves :)
:)
Fancy seeing you here.
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:P
ima always here!!! muhahaha
lol
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For example, sellers name their price in terms of a normal global currency (for example, Dollars), and then the Bitcoin price is adjusted in relation to that named price?
This is called peg to $ and is already being used by most vendors. The seller defines the items price in $ and on the products page the corresponding BTC value is shown, which changes when BTC goes up or down.
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Yes, I am haveing the exact same concern here - and also am looking to make a purchase, but am holding off. Can nothing be done to offset the instability issue presented by the fluctuation of Bitcoin rates? Because, what will then happen if Bitcoin rates continue to rise indefinately, which some are expecting to happen, indeed? Can there be some kind of medium between the parties of sale and purchase? For example, sellers name their price in terms of a normal global currency (for example, Dollars), and then the Bitcoin price is adjusted in relation to that named price? That would seem to solve the issue, although I am of course skeptical that such action would be taken. However, I am hopeful that SOMETHING is done to deal with this, or otherwise, do you suppose that sellers simply will adjust THEIR selling price to account for the rising bitcoin rates? Is there something about the 'Escrow' system I am missing here? Any answers are greatly appreciated, Thank You.
/\ That's exactly what we do have already.
V.
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MT. Gox is up to 9.24 and until SR catches up I'm holding off on a purchase
Just think, the value of the BTC is now over 11. If you had bought it then and then made your purchase today or tomorrow you would have saved a considerable amount of money.