Silk Road forums
Discussion => Newbie discussion => Topic started by: Westinsides on September 17, 2013, 02:56 am
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The bitcoin rate seems to be going up again. How often do vendors update their rates to stay in line with fluctuations or does it do this automatically for them. I guess they just put in their local currency cost and it works it out for them? Is the system that advanced?
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Yes it is automatic you know alot of your questions have been asked and answer try searching before asking
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Umm... Which text, precisely, would one search for in this case?
It seems to me quite reasonable to ask newbie questions on a newbie forum. Thank you, though, for giving us the answer.
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Cryngie, you are about the most patient poster on this site, I think. Even when you tell a newb to do a search, you give the answer. I appreciate that.
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Not sure if what i'm about to say is fixed/fool proof
Remember earlier this year when the great bitcoin spike to ?240? occurred mid april, I believe vendors the more sales the worse affected names like Jor JesusofRave got hit pretty hard because of btc-currency rate delayed slightly made it so vials orig 500-600 looked&could of been purchased if you had coin purchasing power (cash in account) at like half the price made orders became uniquely inexpensive. Not sure if the way sr works now is instantaneous which I believe is not true or every refresh prices would be changing. If my memory serves me right vendors can choose to make a set price exmple $50.00 for product x or at the time the equivalent of expected return of product in bitcoin which then could fluctuate in favor of seller.
Can't say the above is 100% true will need verification
A few ?hours/days? after the btc spike there was the issue of coin crashing. people finalizing either out of spite,luls,meanspirited or without forewarn that their coin paid to the vendor which had stayed the same coin denomination had dramatically lowered in value once released from escrow great vendor x sold drug for 1btc drug had value of sale at 100, now the btc released is worth 50.
Major losses happen to both sides, just like major gains
Mostly not intentional
Fluxation is a risk we all take when buying/selling with coins just like the risk we take of receiving items.
There is that chance of disapearing by whatever force LE, neighborhood theif, lying vendor, and also lets not forget the lying buyer.
As profesional and discrete our lovely market here at silk road is let's all not forget drug business formalized or not is going to have some degree of sketchiness and flaws until all manufacturing, sell, distribution and use of chemicals is legalized world wide, even then comes fall out of underground organizations retaliating back.
I suppose the moral of the post is(swap/switch) modern day narcotics/currency caries an assortment of risks in more than one way