Silk Road forums

Discussion => Off topic => Topic started by: RaFaeL5 on January 26, 2013, 01:57 pm

Title: when do sellers adapt their prices to the BTC-market price
Post by: RaFaeL5 on January 26, 2013, 01:57 pm
Hi,

the price for BTC's has been going up, up, up but I can't really see any change in the prices on SR...
so I was just wondering: when do sellers actually adapt their prices to the BTC-value?

Seller's can have the BTC's they get from a deal "hedged", but buyers can't - I guess that's because the sellers are "supposed" to adapt their prices on a regular base to the value of BTC on the market... but it might be a great idea to have the BTC's that a certain buyer puts on his SR account "hedged" untill the moment he decides to spend it... that way you wouldn't see your money go "up in smoke" before even having the product to smoke  ;)

any insight on this?
Title: Re: when do sellers adapt their prices to the BTC-market price
Post by: acider on January 26, 2013, 02:18 pm
When they create a listing they fix the price to USD. It's not mandatory but there are serious reasons to do it, and still haven't noticed anyone who doesn't.

Also the hedging option is not only for the sellers, in case you get a refund it will be in USD and not the exact amount of bitcoins you spent.

Hedging you SR wallet is not possible, who would pay your loss when btc price falls? SR? Of course not. It's the nature of the coin, if you don't like the risks buy as much coins as you want to spend here, and order asap.
Title: Re: when do sellers adapt their prices to the BTC-market price
Post by: RaFaeL5 on January 30, 2013, 09:58 pm
Thx 4 your reply acider,
and +1,

just out of curiosity... you wrote that when creating a listing dealers had to give a price in USD.
Can they only do this in USD, or could non-US dealers also do this in other currencies (so that they could work with their own currency in order to not be influenced by the fluctuations in the USD)?
Title: Re: when do sellers adapt their prices to the BTC-market price
Post by: acider on January 30, 2013, 10:07 pm
I am almost sure the only option available for fiat currency is USD.
Title: Re: when do sellers adapt their prices to the BTC-market price
Post by: farmer1 on January 30, 2013, 10:12 pm
I am almost sure the only option available for fiat currency is USD.

That is correct.

Great explanation acider!
Title: Re: when do sellers adapt their prices to the BTC-market price
Post by: bull3gern on February 02, 2013, 03:46 am
Yeah, the past few days BTCs have gotten real costly (I've been afraid to check today)