Silk Road forums
Discussion => Silk Road discussion => Topic started by: connoisseur on February 09, 2013, 03:19 pm
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The recent moonshot of Bitcoins plus the strenghtening of the Euro has put many unhedged offers from EU suppliers out of touch with reality.
When I joined SR in November 1 BTC was 10 Euros.
Due to the advance of BTC in USD and the rise of the Euro many EU vendors now charge anywhere between 50 and 70% more.
I assume this is due to the circumstance of BTCs tied to USD.
Vendors can only hedge against BTC risk in USD, but not in EUR as the BTC price depends mostly on USD-BTC transactions.
This means EU vendors have to adjust their prices manually if they think (and calculate) in EUR terms.
Because SR only adjusts prices according to the Mt.Gox USDBTC rate EU vendors should be offered a BTCEUR hedge too.