Silk Road forums

Discussion => Silk Road discussion => Topic started by: ragefu on August 11, 2012, 10:57 pm

Title: SR prices not adjusting to BTC value ?
Post by: ragefu on August 11, 2012, 10:57 pm
hey there

so the last time I bought something here was around february. one bitcoin was about €4 back then, now they're at 9€, but one xtc pill is still about 0,7 to 1 bitcoin... just like before.
does this mean SR won't adjust the pricing to the current value of bitcoins? why?

thanks in advance for your help !
Title: Re: SR prices not adjusting to BTC value ?
Post by: cactuschomper on August 11, 2012, 11:19 pm
I was actually wondering this as well, it would be nice if all the vendors would hedge their bulk prices to street prices based off of erowid ETC.

But I guess if you are the only one with a dank listing, and no competitors, then of course you will sell it for as much as you can get.
Title: Re: SR prices not adjusting to BTC value ?
Post by: OCKing on August 11, 2012, 11:28 pm
Its up to the seller to set their own pricing.
With that said, there are 2 different ways to price your products.

Sellers guide says:
They can be priced in constant Bitcoins, or constant US Dollars. If you choose to peg your listings to the dollar, your prices will change dynamically in accordance with the exchange rate between the two currencies. When the Bitcoin appreciates, your prices will fall. When it depreciates, they will rise, so no matter what, you will get the same dollar value for your item. We recommend that you peg your prices to the dollar.
Title: Re: SR prices not adjusting to BTC value ?
Post by: Christy Nugs on August 12, 2012, 12:35 am
Its up to the seller to set their own pricing.
With that said, there are 2 different ways to price your products.

Sellers guide says:
They can be priced in constant Bitcoins, or constant US Dollars. If you choose to peg your listings to the dollar, your prices will change dynamically in accordance with the exchange rate between the two currencies. When the Bitcoin appreciates, your prices will fall. When it depreciates, they will rise, so no matter what, you will get the same dollar value for your item. We recommend that you peg your prices to the dollar.

yup!!
even if u are tied to the dollar like i am, it is still a good idea to check prices against mtgox or whatever every couple days and adjust if needed.
complacency kills!!!
Title: Re: SR prices not adjusting to BTC value ?
Post by: Orinoko Flow on August 13, 2012, 07:16 pm
Its up to the seller to set their own pricing.
With that said, there are 2 different ways to price your products.

Sellers guide says:
They can be priced in constant Bitcoins, or constant US Dollars. If you choose to peg your listings to the dollar, your prices will change dynamically in accordance with the exchange rate between the two currencies. When the Bitcoin appreciates, your prices will fall. When it depreciates, they will rise, so no matter what, you will get the same dollar value for your item. We recommend that you peg your prices to the dollar.

How can you tell if a seller has pegged to the dollar/bitcoin ?
Title: Re: SR prices not adjusting to BTC value ?
Post by: DiscountDank on August 13, 2012, 08:32 pm
prices listed will be in $ instead of BTC.





Its up to the seller to set their own pricing.
With that said, there are 2 different ways to price your products.

Sellers guide says:
They can be priced in constant Bitcoins, or constant US Dollars. If you choose to peg your listings to the dollar, your prices will change dynamically in accordance with the exchange rate between the two currencies. When the Bitcoin appreciates, your prices will fall. When it depreciates, they will rise, so no matter what, you will get the same dollar value for your item. We recommend that you peg your prices to the dollar.

How can you tell if a seller has pegged to the dollar/bitcoin ?
Title: Re: SR prices not adjusting to BTC value ?
Post by: OCKing on August 16, 2012, 08:38 pm
prices listed will be in $ instead of BTC.
Correct me if I am wrong but,
You (buyer) control how the info is displayed on your end, i.e. BC or $.

The only way to tell what a seller uses besides asking him or her is to watch the price.
if it changes in BC it is pegged to $ because dollars are staying the same.
if it stays constant in BC it is pegged to BC because BC are staying the same.
Title: Re: SR prices not adjusting to BTC value ?
Post by: numbering on August 16, 2012, 08:56 pm
prices listed will be in $ instead of BTC.
Correct me if I am wrong but,
You (buyer) control how the info is displayed on your end, i.e. BC or $.

The only way to tell what a seller uses besides asking him or her is to watch the price.
if it changes in BC it is pegged to $ because dollars are staying the same.
if it stays constant in BC it is pegged to BC because BC are staying the same.

Partially right. Move something to your cart and you'll see if the item is hedged or not.
Title: Re: SR prices not adjusting to BTC value ?
Post by: OldManShearing on August 16, 2012, 09:07 pm
What would be the disadvantage to having SR implement and automatic price adjustment based on the market rate of the BTC?  For example a vendor thinks his dank should be $50 an 8th, so he lists it at ($50 / ($13.36 per BTC)) = 3.74 BTC.

Now tomorrow the BTC depreciates further compared to the $ so that now 1 BTC = $20.  The true market value of his listing would be
3.74 BTC * ($20 per BTC) = $74.8.  So we have been forced to pay essentially 50% more for his product because of the currency fluctuation than it's worth.  And BTW this is happening currently, and is not insignificant because the BTC is currently rising steadily compared to the $.

Why can't SR automatically normalize prices based on the market value of the BTC as tied to Mt.Gox continuously, so that the price for the chronic automatically updates to 2.5 BTC ($20 * 2.5 = $50) in the purchasing window?

I mean this way no one loses right?  The goods are bought and sold for the exact price the vendor sets.  The buyer pays the fair market value the vendor set, and the vendor receives the value he originally placed his goods for.  All is well and good.

I welcome attacks on my proposal as I'm sure I left out or am missing something somewhere.......

Title: Re: SR prices not adjusting to BTC value ?
Post by: numbering on August 16, 2012, 09:09 pm
What would be the disadvantage to having SR implement and automatic price adjustment based on the market rate of the BTC?  For example a vendor thinks his dank should be $50 an 8th, so he lists it at ($50 / ($13.36 per BTC)) = 3.74 BTC.

Now tomorrow the BTC depreciates further compared to the $ so that now 1 BTC = $20.  The true market value of his listing would be
3.74 BTC * ($20 per BTC) = $74.8.  So we have been forced to pay essentially 50% more for his product because of the currency fluctuation than it's worth.  And BTW this is happening currently, and is not insignificant because the BTC is currently rising steadily compared to the $.

Why can't SR automatically normalize prices based on the market value of the BTC as tied to Mt.Gox continuously, so that the price for the chronic automatically updates to 2.5 BTC ($20 * 2.5 = $50) in the purchasing window?

I mean this way no one loses right?  The goods are bought and sold for the exact price the vendor sets.  The buyer pays the fair market value the vendor set, and the vendor receives the value he originally placed his goods for.  All is well and good.

I welcome attacks on my proposal as I'm sure I left out or am missing something somewhere.......

They already do exactly that.
Title: Re: SR prices not adjusting to BTC value ?
Post by: OldManShearing on August 16, 2012, 09:13 pm
Well then I just wasted 10 minutes of my life.

So if it's listed at 1 BTC ($10/BTC) and I come back 10 minutes later and the BTC has skyrocketed ($100/bTC) The good will be listed as 0.1 BTC?

???
Title: Re: SR prices not adjusting to BTC value ?
Post by: numbering on August 16, 2012, 09:15 pm
Well then I just wasted 10 minutes of my life.

So if it's listed at 1 BTC ($10/BTC) and I come back 10 minutes later and the BTC has skyrocketed ($100/bTC) The good will be listed as 0.1 BTC?

???

Yes.
Title: Re: SR prices not adjusting to BTC value ?
Post by: OldManShearing on August 16, 2012, 09:18 pm
Well that's pretty fucking cool.

How often is it updated out of curiosity do you know?

Title: Re: SR prices not adjusting to BTC value ?
Post by: numbering on August 16, 2012, 09:20 pm
Well that's pretty fucking cool.

How often is it updated out of curiosity do you know?

Nobody really knows despite DPR. You can observe it and tell us :)
Title: Re: SR prices not adjusting to BTC value ?
Post by: foxtrot77 on August 17, 2012, 07:10 pm
Yep. Change whether you want bitcoins or dollars displayed go to 'settings'.

Would be good to see a little 'bitcoin' or 'dollar' icon next to each vendors pricing. So we know what price is it pegged to, without having to check back each day or two.