Silk Road forums

Discussion => Security => Topic started by: Ktown99 on October 26, 2012, 12:45 am

Title: WTF? Why is the total amount in my account dropping?
Post by: Ktown99 on October 26, 2012, 12:45 am
When I logged in this morning the account was at XX amount then I log in just now and the total amount has dropped.

I made three purchases 3 days ago and nothing since.

Any ideas guys?
Title: Re: WTF? Why is the total amount in my account dropping?
Post by: Asbury on October 26, 2012, 12:52 am
fuck...they're on to me!


...the price of bitcoins are constantly changing so the value of the ones in your account moves accordingly
Title: Re: WTF? Why is the total amount in my account dropping?
Post by: Ktown99 on October 26, 2012, 01:00 am
fuck...they're on to me!


...the price of bitcoins are constantly changing so the value of the ones in your account moves accordingly

Bastardo!

But seriously, I'm not imagining things and certainly not on anything. Somehow I'm having money leech its way out of my account like a dirty little gas leak.
Title: Re: WTF? Why is the total amount in my account dropping?
Post by: GiveUsSome on October 26, 2012, 01:01 am
I bet you wont complain when the BTC to USD goes up!

;)

but yeah, ive lost like $80!
Title: Re: WTF? Why is the total amount in my account dropping?
Post by: Ktown99 on October 26, 2012, 01:03 am
I bet you wont complain when the BTC to USD goes up!

;)

but yeah, ive lost like $80!

Shit balls, so that's what it is? The fluctuation of the BTC currency to the USD?

I thought once BTC were in my SR account they did not fluctuate based on the market.
Title: Re: WTF? Why is the total amount in my account dropping?
Post by: railingcapz on October 26, 2012, 01:05 am
fuck...they're on to me!


...the price of bitcoins are constantly changing so the value of the ones in your account moves accordingly

Bastardo!

But seriously, I'm not imagining things and certainly not on anything. Somehow I'm having money leech its way out of my account like a dirty little gas leak.

LOL -_-

Bitcoins, like any other currency can fluctuate in value. Just like USD can go up or down, so do bitcoins, just with more intensity. Clearly they are dropping atm, and so your $$ will decrease accordingly.
Title: Re: WTF? Why is the total amount in my account dropping?
Post by: railingcapz on October 26, 2012, 01:07 am
Quote
I thought once BTC were in my SR account they did not fluctuate based on the market.

Not sure how you came up with that idea, that means SR would take the excess if the prices went up or conversely pay the deficit if they dropped, which is not reasonable at all.
Title: Re: WTF? Why is the total amount in my account dropping?
Post by: GiveUsSome on October 26, 2012, 01:11 am
Quote
I thought once BTC were in my SR account they did not fluctuate based on the market.

Not sure how you came up with that idea, that means SR would take the excess if the prices went up or conversely pay the deficit if they dropped, which is not reasonable at all.

i  think he may have got mixed up with when BTC is in Escrow and it is hedged to USD (if the vendor pays the hedge fee)
Title: Re: WTF? Why is the total amount in my account dropping?
Post by: wayylan on October 26, 2012, 01:11 am
http://preev.com/
Check that website for the CURRENT exchange rate i saw bitcoin drop to $10.50 earlier today i was wondering the same thing myself
Title: Re: WTF? Why is the total amount in my account dropping?
Post by: Ktown99 on October 26, 2012, 01:14 am
Quote
I thought once BTC were in my SR account they did not fluctuate based on the market.

Not sure how you came up with that idea, that means SR would take the excess if the prices went up or conversely pay the deficit if they dropped, which is not reasonable at all.

I didn't think in any great detail about SR being a business and 'commission fees' etc. My priority is learning about anonymity, pgp and identifying the most trustworthy vendors.

Shame on me.

Thanks for your help guys. 
Title: Re: WTF? Why is the total amount in my account dropping?
Post by: railingcapz on October 26, 2012, 01:16 am
Quote
I thought once BTC were in my SR account they did not fluctuate based on the market.

Not sure how you came up with that idea, that means SR would take the excess if the prices went up or conversely pay the deficit if they dropped, which is not reasonable at all.

i  think he may have got mixed up with when BTC is in Escrow and it is hedged to USD (if the vendor pays the hedge fee)

Ah yes, that slipped my mind. In that case, then no, your BC's are not hedged to USD when sitting in your account, they will no doubt fluctuate in value.
Title: Re: WTF? Why is the total amount in my account dropping?
Post by: GiveUsSome on October 26, 2012, 01:30 am
I caught the wave up last time.. I think it went from like 9 to 12 or something like that.
Title: Re: WTF? Why is the total amount in my account dropping?
Post by: johnmtl on October 26, 2012, 01:50 am
I never ever ever leave any available BTC in my account...

Because you never know when a cent or two are gonna go missing...(not due to fluctuation!!)

If you move them out right away or use them right away then you don't need to worry about that and I think that's the smart way to go!
Title: Re: WTF? Why is the total amount in my account dropping?
Post by: smokeweed420 on October 26, 2012, 05:28 am
Noobies  ;)
Title: Re: WTF? Why is the total amount in my account dropping?
Post by: GiveUsSome on October 26, 2012, 05:34 am
I never ever ever leave any available BTC in my account...

Because you never know when a cent or two are gonna go missing...(not due to fluctuation!!)

If you move them out right away or use them right away then you don't need to worry about that and I think that's the smart way to go!

what are you talking about with cents going missing?

I can understand why would you want to move it out, incase SR got taken down.. but besides that, i think its fairly safe to leave in for a while?
Title: Re: WTF? Why is the total amount in my account dropping?
Post by: johnmtl on October 26, 2012, 05:43 am
I never ever ever leave any available BTC in my account...

Because you never know when a cent or two are gonna go missing...(not due to fluctuation!!)

If you move them out right away or use them right away then you don't need to worry about that and I think that's the smart way to go!

what are you talking about with cents going missing?

I can understand why would you want to move it out, incase SR got taken down.. but besides that, i think its fairly safe to leave in for a while?

it's probably 100% safe... but I cant say that for a fact... it is possible cents go missing and no one would notice.. I'm just saying that you cant ever be 100% sure unless your DPR himself... Maybe I'm just a little paranoid..... but the only way to be 100% sure is to move it out right away!
Title: Re: WTF? Why is the total amount in my account dropping?
Post by: GiveUsSome on October 26, 2012, 05:48 am
I never ever ever leave any available BTC in my account...

Because you never know when a cent or two are gonna go missing...(not due to fluctuation!!)

If you move them out right away or use them right away then you don't need to worry about that and I think that's the smart way to go!

what are you talking about with cents going missing?

I can understand why would you want to move it out, incase SR got taken down.. but besides that, i think its fairly safe to leave in for a while?

it's probably 100% safe... but I cant say that for a fact... it is possible cents go missing and no one would notice.. I'm just saying that you cant ever be 100% sure unless your DPR himself... Maybe I'm just a little paranoid..... but the only way to be 100% sure is to move it out right away!

yeah my issue with that is, I dont trust any random online wallets.. And I dont trust my Hard drive not to die.. (My backup procedures aren't what they should be)
Title: Re: WTF? Why is the total amount in my account dropping?
Post by: sniper123 on October 26, 2012, 05:49 am
Yeah i remember when i started on the road btc were like 4 USD each. If only i would of held onto just 10 btc. :( They normally go down this time of year. If anything they won't pick back up until feb. So there is going to be a lot of people selling their btc.
Title: Re: WTF? Why is the total amount in my account dropping?
Post by: johnmtl on October 26, 2012, 06:00 am
Yeah i remember when i started on the road btc were like 4 USD each. If only i would of held onto just 10 btc. :( They normally go down this time of year. If anything they won't pick back up until feb. So there is going to be a lot of people selling their btc.

actually... In December the maximum amount of btc per minute produced will get cut in half...

this means the price will rise because now only half the amount could be mined  per day as compared to today!!

So really its going to go up.... add to that all the newbies who saw this place on the news a month ago, and are soon going to get there first package... once that happens and they tell there friends and it being the holidays and with all that extra bonus cash and all the parties, people will be buying more btc to buy drugs for the holidays.. which will also bring a rise in the btc... I expect it to hit between 15-20 bucks in December!
Title: Re: WTF? Why is the total amount in my account dropping?
Post by: johnmtl on October 26, 2012, 06:02 am
I never ever ever leave any available BTC in my account...

Because you never know when a cent or two are gonna go missing...(not due to fluctuation!!)

If you move them out right away or use them right away then you don't need to worry about that and I think that's the smart way to go!

what are you talking about with cents going missing?

I can understand why would you want to move it out, incase SR got taken down.. but besides that, i think its fairly safe to leave in for a while?

it's probably 100% safe... but I cant say that for a fact... it is possible cents go missing and no one would notice.. I'm just saying that you cant ever be 100% sure unless your DPR himself... Maybe I'm just a little paranoid..... but the only way to be 100% sure is to move it out right away!

yeah my issue with that is, I dont trust any random online wallets.. And I dont trust my Hard drive not to die.. (My backup procedures aren't what they should be)

first you need to trust the wallet... second you need to encrypt in... third you have to get a good backup... I do one every night!

If you do all that you should be safe!
Title: Re: WTF? Why is the total amount in my account dropping?
Post by: sniper123 on October 26, 2012, 09:12 am
Yeah i remember when i started on the road btc were like 4 USD each. If only i would of held onto just 10 btc. :( They normally go down this time of year. If anything they won't pick back up until feb. So there is going to be a lot of people selling their btc.

actually... In December the maximum amount of btc per minute produced will get cut in half...

this means the price will rise because now only half the amount could be mined  per day as compared to today!!

So really its going to go up.... add to that all the newbies who saw this place on the news a month ago, and are soon going to get there first package... once that happens and they tell there friends and it being the holidays and with all that extra bonus cash and all the parties, people will be buying more btc to buy drugs for the holidays.. which will also bring a rise in the btc... I expect it to hit between 15-20 bucks in December!

What? I've read about the total limit cap of btc, but i haven't heard about the ammount able to be mined per hour being capped. Please explain. :)
Title: Re: WTF? Why is the total amount in my account dropping?
Post by: mushitup on October 26, 2012, 01:28 pm
What? I've read about the total limit cap of btc, but i haven't heard about the ammount able to be mined per hour being capped. Please explain. :)

Here's a quick version, you can read up a lot more at bitcoin.org or the bitcointalk forums on the clearweb.

Satoshi planned on a hard cap of coins to exist.  For the coins to be generated they need to be mined.  The algorithm used for miners adjusts the difficulty to keep the amount of bitcoins generated at a certain rate.  The more miners (higher hashrate), the higher the difficulty and vice versa.  Also within the algorithm when a certain number of blocks/coins are mined, the block reward splits in half until all coins are mined.  At the current network hashrate the reward will cut in half in December.  Once all coins are mined, miners will rely on transaction fees to continue operations but that won't be for a long time to come.

That explanation leaves a lot to be desired I'm sure, but it gives you the gist.

A lot of people will argue that the reward split is already taken into account on current pricing.  We can only hope they're wrong if you're holding on to any coins.

*Edit - and why is this in the security forum?
Title: Re: WTF? Why is the total amount in my account dropping?
Post by: Js4x on October 26, 2012, 10:36 pm

Shit balls, so that's what it is? The fluctuation of the BTC currency to the USD?

I thought once BTC were in my SR account they did not fluctuate based on the market.

Quote of the fucking day!  ;D

Honestly, you thought they wouldn't fluctuate? You expected that 1 bitcoin would equal $12 for fucking ever or until you decided to spend them?

Don't take it bad, everybody says stupid shit sometimes.
Title: Re: WTF? Why is the total amount in my account dropping?
Post by: wsg on October 26, 2012, 10:43 pm
The amount of BTC in your account should not fluctuate just there value unfortunately the prices of product skyrocket when the coin drops
Title: Re: WTF? Why is the total amount in my account dropping?
Post by: onepostchump on October 26, 2012, 11:52 pm
Quote of the fucking day!  ;D

Honestly, you thought they wouldn't fluctuate? You expected that 1 bitcoin would equal $12 for fucking ever or until you decided to spend them?

Don't take it bad, everybody says stupid shit sometimes.

no need to be an ass about it, if you leave $100 in your paypal account it doesn't fluctuate depending on the value of the dollar --- it is quite reasonable for someone new to sr to be surprised at this
Title: Re: WTF? Why is the total amount in my account dropping?
Post by: microRNA on October 27, 2012, 02:25 am
you deposited btc in your acct.
that number does not fluctuate.
you did not deposit usd into the account...
Title: Re: WTF? Why is the total amount in my account dropping?
Post by: Moon Fried on October 27, 2012, 03:15 am
I never ever ever leave any available BTC in my account...

Because you never know when a cent or two are gonna go missing...(not due to fluctuation!!)

If you move them out right away or use them right away then you don't need to worry about that and I think that's the smart way to go!

what are you talking about with cents going missing?

I can understand why would you want to move it out, incase SR got taken down.. but besides that, i think its fairly safe to leave in for a while?

Probably referring to security issues on the account owner's end... such as being part of a botnet or having a keylogger. At least that's what I'm thinking.
Title: Re: WTF? Why is the total amount in my account dropping?
Post by: Shroomeister on October 27, 2012, 03:47 am
Noobies  ;)

Amen.
Title: Re: WTF? Why is the total amount in my account dropping?
Post by: johnmtl on October 27, 2012, 04:16 am
I never ever ever leave any available BTC in my account...

Because you never know when a cent or two are gonna go missing...(not due to fluctuation!!)

If you move them out right away or use them right away then you don't need to worry about that and I think that's the smart way to go!

what are you talking about with cents going missing?

I can understand why would you want to move it out, incase SR got taken down.. but besides that, i think its fairly safe to leave in for a while?

Probably referring to security issues on the account owner's end... such as being part of a botnet or having a keylogger. At least that's what I'm thinking.


I'm saying anything is possible.. i do it more because i cant say that no one on the admin end is fucking around.
Title: Re: WTF? Why is the total amount in my account dropping?
Post by: Js4x on October 27, 2012, 07:43 pm
Quote of the fucking day!  ;D

Honestly, you thought they wouldn't fluctuate? You expected that 1 bitcoin would equal $12 for fucking ever or until you decided to spend them?

Don't take it bad, everybody says stupid shit sometimes.

no need to be an ass about it, if you leave $100 in your paypal account it doesn't fluctuate depending on the value of the dollar --- it is quite reasonable for someone new to sr to be surprised at this

If I was being an ass I would've directed him toward this listing:    silkroadvb5piz3r.onion/index.php/silkroad/item/796ce882cf

You're talking about fucking paypal? I don't think I can dumb it down so you can understand...

You've got a set number of bitcoins in your account. The number of bitcoins doesn't change. SR provides the service of displaying that value dollars. The dollar:bitcoin ratio CAN change.
Honestly...

- So you're saying that when using a paypal account, the dollar to dollar ratio remains the same? No shit!
Title: Re: WTF? Why is the total amount in my account dropping?
Post by: princeblack49 on October 27, 2012, 09:35 pm
I've never had my wallet fluctuate. I understand markets but when my USD in the bank lose value I still have USD there just the same.
Title: Re: WTF? Why is the total amount in my account dropping?
Post by: orbitalics on October 27, 2012, 11:27 pm
Noobies  ;)
Title: Re: WTF? Why is the total amount in my account dropping?
Post by: Wokker on October 27, 2012, 11:31 pm
I think it's starting to get bullish, I've made $1 over the past hour  :)
Title: Re: WTF? Why is the total amount in my account dropping?
Post by: railingcapz on October 28, 2012, 12:23 am
I've never had my wallet fluctuate. I understand markets but when my USD in the bank lose value I still have USD there just the same.

-__________-
Title: Re: WTF? Why is the total amount in my account dropping?
Post by: NotMe123 on October 28, 2012, 06:56 am
I've noticed that during the day my $ value drops but by night time it jumps more than it previously dropped, hence the reason i purchase at night.