Silk Road forums

Support => Technical support => Topic started by: kikisdeliveryservice on November 30, 2011, 01:41 pm

Title: new vendor question
Post by: kikisdeliveryservice on November 30, 2011, 01:41 pm
Hi. I have just set up shop on SR, and have a question regarding pricing.
What is the difference between prices being matched to the US dollar, or constant bitcoin?
Any help would be greatly appreciated.


Title: Re: new vendor question
Post by: Bob Arctor on November 30, 2011, 02:15 pm
Hi kikisdeliveryservice,

welcome to the road!

constant bitcoin = price is always the same amount of BTC that you set
matched to USD = price in BTC depends on the market value of BTC.

As you know the value of BTC is constantly fluctuating. To negate this SR lets you keep your prices the same by matching them to USD. BTC value sometimes rapidly goes up and down, on SR however, the value of BTC used in prices is a 24 hour average. I hope I am not too confusing:) I would suggest to have your prices matched to USD and using hedging.

Nice nickname, by the way. Miyazaki is great.

Cheers,
Bob
Title: Re: new vendor question
Post by: kikisdeliveryservice on November 30, 2011, 10:35 pm
Thanks Bob.
Much appreciated.
So, if I had it on constant bitcoin, would I have to change the price myself every day as the bitcoin value changed?
Title: Re: new vendor question
Post by: Bob Arctor on December 01, 2011, 09:12 am
So, if I had it on constant bitcoin, would I have to change the price myself every day as the bitcoin value changed?

yep:)