Silk Road forums
Support => Feature requests => Topic started by: mdpro on April 17, 2013, 07:09 pm
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It would be great for both buyers and vendors to have a display of the current BTC exchange rate used on SR. It never seems to match the mtgox market rate. Plus it would save a couple of steps for folks!
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It never matches the MtGox rate as SR is on the TOR network, which by its very nature, is slower. Therefore, the exchange rate tends to lag behind.
I always keep an item in my shopping cart so I can quickly see the exchange rate, just by clicking the shopping cart symbol ;)
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Where abouts do you see the rate ?
I've got something in the cart atm and I only see the BTC ??
thanks :)
It never matches the MtGox rate as SR is on the TOR network, which by its very nature, is slower. Therefore, the exchange rate tends to lag behind.
I always keep an item in my shopping cart so I can quickly see the exchange rate, just by clicking the shopping cart symbol ;)
-
Where abouts do you see the rate ?
I've got something in the cart atm and I only see the BTC ??
thanks :)
It never matches the MtGox rate as SR is on the TOR network, which by its very nature, is slower. Therefore, the exchange rate tends to lag behind.
I always keep an item in my shopping cart so I can quickly see the exchange rate, just by clicking the shopping cart symbol ;)
I see the dollar amount because I have my settings to display the prices in dollars. Click on 'Settings' >>> 'display prices in dollars' >>> click 'Update Profile'. Then go to your cart and the price will display something along the lines of, for example:
Total: ฿ 2.77
($347.63 at $125.49675 per Bitcoin)
Hope this helps :)
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ah cool thanks for that
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It never matches the MtGox rate as SR is on the TOR network, which by its very nature, is slower. Therefore, the exchange rate tends to lag behind.
I always keep an item in my shopping cart so I can quickly see the exchange rate, just by clicking the shopping cart symbol ;)
Actually the price lag has absolutely nothing to do with the nature of the tor network. :P
It's just because SR uses the 24 hour weighted average at Mt.Gox.
They seem to update the price quite frequently but the weighted average is used because it smooths out large price spikes.
Knowing this you can also use it to your advantage as when the price crashes,
the weighted average will drop slower and you can use your coins at a higher price than what they're currently worth.
I've used this myself when I was planning a large purchase,
I waited while the price kept increasing and bought my stuff when the price started suddenly crashing.
Vendors who hedge their orders won't lose a penny and those that don't earned a lot in the preceding weeks as the price of the coins kept rising.
However since the weighted average updates slower they were getting their coins at a better rate than the market price. ;D