Silk Road forums
Discussion => Newbie discussion => Topic started by: Newguy321 on August 24, 2013, 09:55 pm
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A example is this:
BTC value is $100.00 for one BTC (1.00). A product on SR is 0.50 BTC. So with your one BTC you can buy two of said product and the vendor gets paid $100.00.
So if the value of BTC's changes to $125.00 for one BTC (1.00) and you buy two of the above products for 0.50 BTC then the vendor would get paid $125.00
This is what it appears is happening. I would think that the cost of the product would reflect the cost of the dollar value backing the BTC.
I may have just confused myself and not have a clue.
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Bumb
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The prices on Silk Road automatically update based on the value of the Bitcoin. The vendors just enter a dollar amount for their listings and Silk Road does the rest.
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Interesting. It just seems that even though BTC prices have gone up vendor product prices have stayed the same.
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The BTC (Bitcoin) is pegged to the USD (United States Dollar), it shouldn't be so confusing.
If the vendor is a retard and price his products to the BTC, yeah it will be confusing.
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At the fr right of your shopping cart it should say whether products are hedged or not. If products are hedged, the weighted change in BTC will be reflected in the price. Those that are not hedged, will not change with the fluctuation in exchange
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Does anybody know from which site SR takes the rate for btc?
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SR btc pricing does not update as quick as the btc exchange fluctuation.my advice would be buy btc when the rate is low and then soend when the rate is high as SR pricing drops :) you end up with a few e tra goodies in ur shopping bag ;D
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Im not sure but an educatedguess would probably be Mt GOX
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At the fr right of your shopping cart it should say whether products are hedged or not. If products are hedged, the weighted change in BTC will be reflected in the price. Those that are not hedged, will not change with the fluctuation in exchange
Good info Crusader +1 to ya!