Silk Road forums

Discussion => Newbie discussion => Topic started by: qoheleth8 on August 24, 2013, 03:46 pm

Title: SR Bitcoin rate
Post by: qoheleth8 on August 24, 2013, 03:46 pm
Can anyone tell me why the exchange rate for Bitcoins on SR is about $7 less than market rates?  I don't remember it being that way.  Wondering if it has something to do with my having an open order, but I don't know.  Thanks, if you can clear this up.  I've searched for an answer but can't find it.
Title: Re: SR Bitcoin rate
Post by: midwestmedical on August 24, 2013, 03:54 pm
SR is averaging the value of mtgox and bitstamp (the two largest exchanges) right now to obtain the value of a bitcoin.  The mtgox price is artificially inflated because no one can take fiat money off of mtgox. 
Title: Re: SR Bitcoin rate
Post by: qoheleth8 on August 24, 2013, 06:32 pm
Ohhhhhh.  Thanks much.  I guess all the charts I was checking were exclusively Mt Gox.  You can still pull money from Mt. Gox by bank wire, right?  Never mind, I can find that out on my own.  Guess I should begin to look elsewhere to buy bitcoins.  Works out to a 5% surcharge to use Mt. Gox.  :(