Silk Road forums
Market => Rumor mill => Topic started by: patetin on November 20, 2012, 10:27 pm
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hello
this summer BY costed me half the price they cost now.. I dont think i can buy on sr anymore..
it's just too expensive - anyone agrees ?
I mean 130 euros for a gram of H ?
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most vendors tag the item to dollar not btc so you should be good to keep buying
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what ? escuse me i dont understand
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what ? escuse me i dont understand
If an item is priced in dollars, the amount it will cost in btc will fluctuate depending on the current btc market value. But it will still be the same dollar price. So if an item is $20 and btc is currently valued at $10, it will cost 2 btc. But if btc goes up to $20 in value, that same $20 item will cost 1 btc. That's how I though all listings worked acutally, but maybe vendors have the choice between pricing in dollars or btc.
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When you list an item on SilkRoad, most vendors set a price in Dollars. For example, let's say the price of bitcoins today was 1 coin = $10. The item you want to buy was $100 , so it costs 10 bitcoins today to buy it. Next week, the value of bitcoin doubles in price so 1 coin now = $20. When that happens, the item now only costs 5 bitcoins . The item is still $100. SilkRoad adjusts this automatically. Likewise, if the bitcoin price dropped in half, to 1 coin = $5, now your item would cost 20 bitcoins, still $100. The price of the item is always the same, that way the Vendor gets the price they wanted for the item no matter the current value of a bitcoin!
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My educated guess on the sudden rise of the coin if simple: Everyone is going back to their hometowns for the weekend holiday and saying to their bro's "CHECK THIS SHIT OUT". Add that with the fact that CVS and Walmart are open for MoneyGram = ^^^ Coins.
I know for a fact that a few people I know are doing just that, much to my dismay.