Silk Road forums
Discussion => Silk Road discussion => Topic started by: jacque on July 23, 2012, 07:58 am
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I was wondering how often the bitcoin/usd exchange rate updates on silk road or when?
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If the item is hedged I thought it auto-adjusts to the fluctuation rate so as to always remain at the same dollar value. But I could be wrong. Im sure someone will enlighten. I would hope SR queries for the exchange rate at least hourly.
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If the item is hedged I thought it auto-adjusts to the fluctuation rate so as to always remain at the same dollar value. But I could be wrong. Im sure someone will enlighten. I would hope SR queries for the exchange rate at least hourly.
The hedge option has nothing to do with the price of an item. That function is for a vendor to use to insure they will get the same price for their BTC when the item is finalized as they did when the item was purchased since it could take up to 2 weeks before someone finalizes an order.
The answer to your question is SR works on a 24hr average on BTC price. So it is always adjusting. You can pit an item into your cart and see the current rate SR is using at that time.
Hope that helps
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If the item is hedged I thought it auto-adjusts to the fluctuation rate so as to always remain at the same dollar value. But I could be wrong. Im sure someone will enlighten. I would hope SR queries for the exchange rate at least hourly.
The hedge option has nothing to do with the price of an item. That function is for a vendor to use to insure they will get the same price for their BTC when the item is finalized as they did when the item was purchased since it could take up to 2 weeks before someone finalizes an order.
The answer to your question is SR works on a 24hr average on BTC price. So it is always adjusting. You can pit an item into your cart and see the current rate SR is using at that time.
Hope that helps
Is there somewhere on SR to see what the current 24hr average is?
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I too am curious about this, with the BTC risng by a couple of bucks in a week or so, not to mention longer term,
I havent seen BTC prices change(decrease) to accomadate for the higher value of the BTC. hmmmmm