Silk Road forums
Market => Rumor mill => Topic started by: Metro2033 on June 24, 2012, 06:16 pm
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How come vendors seem to be keeping all their prices the same regardless of the fact that BTC has spiked in value recently?
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well i see a price difference between ppl ordering this week and ppl that ordered two weeks ago. now the price for the same product was less btc then two weeks ago.
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I'm just speaking out of my ass, but I think vendors can set their prices in dollars as opposed to BTC; so despite the recent change (increase) in bitcoin value, their products will still cost the same. But then again, I'm not a vendor...
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yes thats right . i've setting them to USD so the price is fair for the ppl that do business
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.I am speaking for 99% of vendors. We peg our BTC to the US dollar. So it makes no difference what the current exchange rate of the BTC is.
Lets say my pill is $5.00 and the BTC value is $5.00.... then you pay 1 BTC. If the BTC go's up to...let's say $20.00 per BTC.... then you will pay .25 BTC.
So you can see the "value" of the BTC does not matter. I have got lot's of questions about prices of pills since the BTC is now over $6.00. It seems people are confused and don't realize that 99% of us have a set price in US dollars so you will still pay the same dollar amount regardless of the current exchange rate of the BTC.
Now there might be a few vendors that didn't click the option to have their items pegged to the US dollar. If that is the case their item is 5 BTC regardless of the current exchange rate. I would suggest sending the vendor a message BEFORE you purchase and asking them about their current prices.
RxKing
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Thanks for the useful replies ;D
I was more referring to some sellers who seem to keep their prices the same, and for example Swazibuds who says 10z == £88 but at the moment the actual cost is over £100 :-\
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that means they did not peg their prices to USD, as oppyate said above vendors have the option to peg prices in USD rather in BTC to account for fluctuation
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Swazibudd just informed me that the SR inflated their prices and as a result they are gonna be lowering their prices down soon ;D
This was because at the moment 1oz is about £96 yet they wish to sell it for £88 so they are gonna readjust their prices to balance it.