Silk Road forums

Discussion => Newbie discussion => Topic started by: incognito22 on January 28, 2013, 02:29 pm

Title: Bitcoin exchange rate constantly changing?
Post by: incognito22 on January 28, 2013, 02:29 pm
Does it really mean anything that it constantly changes?  Because the product changes in price as the exchange rate changes.  Means nothing right?
Title: Re: Bitcoin exchange rate constantly changing?
Post by: pinto43 on September 22, 2013, 06:30 am
Bringing back an ancient thread ;)
Fucking dumb ass. price goes up when demand is high. Price goes down when demand is low. Didnt you ever take economics!?
Title: Re: Bitcoin exchange rate constantly changing?
Post by: Yoda on September 22, 2013, 06:47 am
You'll quickly learn what it means to you.

Lets say you want to buy $90 bag of dope and you see that the exchange rate is currently at $100/btc... so you figure you'll exchange $100 for a btc and that should cover your buy.

So you buy your btc at $100/btc... but in the time it takes from you to transfer your btc to SR and make a buy, the exchange rate dropped to $50/btc.  Obviously $50 worth of btc now doesn't cover the $90 dope bag price.   Obviously the vendor tied his prices to the $ so the $ amount stayed the same.