Silk Road forums

Discussion => Newbie discussion => Topic started by: thumbprintfluff on March 27, 2013, 03:56 pm

Title: Do BTC prices really affect SR product prices? My account is set to USD./Bitcopi
Post by: thumbprintfluff on March 27, 2013, 03:56 pm
 The subject pretty much sums up my question. Everyone always seems soo worried about BTC value. I have my account showing everything in $ amount. I purchased BTC"s through bitcopia the other day and it shows up as the same amount (minus fees) as I deposited at Wells Fargo....
  Can someone please enlighten me on this subject? I'm kinda new to all this.

 And BTW, Bitcopia is right on if you are having trouble getting BTC"s. If a computer illiterate dumbass like me could get it to work, I think most of you could. Very good service! Used him twice in one day, and BTC"s showed up in 1 hr. both times. Plus he answers emails super quick!
Title: Re: Do BTC prices really affect SR product prices? My account is set to USD./Bitcopi
Post by: tolega on March 27, 2013, 03:59 pm
i am new here  but I am sure this question has been answered over 50 times.
Do a search before asking reasonably basic questions that you know are common and have a high probaility of having beeen answered before.

All my love,

love,
love
Title: Re: Do BTC prices really affect SR product prices? My account is set to USD./Bitcopi
Post by: syncstyles on March 27, 2013, 04:07 pm
Yes.
Title: Re: Do BTC prices really affect SR product prices? My account is set to USD./Bitcopi
Post by: brightback on March 27, 2013, 04:20 pm
How I understand it is that the vendor sets a price for the product, then SR adds a fee, so the bitcoin rate doesn't actually affect the amount the vendor wants, but the value you have in your coins. If you buy coins at $80.00 a coin then the value drops to 70 or 65 a coin before you can buy, you will have lost money and wont have enough to cover your purchase. Thats why they say to buy a little more coins then you need to cover the bitcoin fluctuation.
Title: Re: Do BTC prices really affect SR product prices? My account is set to USD./Bitcopi
Post by: thumbprintfluff on March 27, 2013, 05:02 pm
i am new here  but I am sure this question has been answered over 50 times.
Do a search before asking reasonably basic questions that you know are common and have a high probaility of having beeen answered before.

All my love,

love,
love
All of us weren't brought up in this computer generation. I was lucky to see a typewriter when I was in school. And yes, I did a search and nothing matched.... Sorry, my generation played sports, and guitars ect.... not video games, and with computers... Help a guy out!
Title: Re: Do BTC prices really affect SR product prices? My account is set to USD./Bitcopi
Post by: ladyjane on March 27, 2013, 05:11 pm
Most of the time it will not affect SR product prices, because majority of vendors peg the price to the USD and not the bitcoin. So if a product costs you just pay whatever bitcoin is equal to the price of $50.
BUT the bitcoin value affects how much money you have in your account. So while the product remains at $50, if bitcoin crashes to $2 / coin, you will have less money in your account to spend and cant buy the $5o thing.
It also means you give more bitcoins and since they are rising in value, the less bitcoins  you give away the better.

So i hope that helps im high so maybe not the easiest to understand explanation but its right ;)
Title: Re: Do BTC prices really affect SR product prices? My account is set to USD./Bitcopi
Post by: Gringo Massive on March 27, 2013, 05:23 pm
nearly all vendors peg their stuff in USD, so it shouldn't affect you ;-)
Title: Re: Do BTC prices really affect SR product prices? My account is set to USD./Bitcopi
Post by: BloodThinner on March 27, 2013, 05:25 pm
Don't know
Title: Re: Do BTC prices really affect SR product prices? My account is set to USD./Bitcopi
Post by: K-Hole on March 27, 2013, 05:48 pm
as the price of BTC go up in USD the amount you pay on the road in BTC goes down to equal what the vendor set the product at in USD, so it fluctuates,, IF the BTC rate in USD goes down the amount in BTC you pay on the road for the Item goes up to equal what $$$ amount in USD the vendor set the product at...
Title: Re: Do BTC prices really affect SR product prices? My account is set to USD./Bitcopi
Post by: heatcheck on March 27, 2013, 05:53 pm
nearly all vendors peg their stuff in USD, so it shouldn't affect you ;-)

What this guy said.
Title: Re: Do BTC prices really affect SR product prices? My account is set to USD./Bitcopi
Post by: DaFrizzle on March 27, 2013, 05:59 pm
Most of the time it will not affect SR product prices, because majority of vendors peg the price to the USD and not the bitcoin. So if a product costs you just pay whatever bitcoin is equal to the price of $50.
BUT the bitcoin value affects how much money you have in your account. So while the product remains at $50, if bitcoin crashes to $2 / coin, you will have less money in your account to spend and cant buy the $5o thing.
It also means you give more bitcoins and since they are rising in value, the less bitcoins  you give away the better.

So i hope that helps im high so maybe not the easiest to understand explanation but its right ;)

He got it right, least how I see it
Title: Re: Do BTC prices really affect SR product prices? My account is set to USD./Bitcopi
Post by: maxieBB on March 27, 2013, 06:27 pm
i am new here  but I am sure this question has been answered over 50 times.
Do a search before asking reasonably basic questions that you know are common and have a high probaility of having beeen answered before.

All my love,

love,
love
All of us weren't brought up in this computer generation. I was lucky to see a typewriter when I was in school. And yes, I did a search and nothing matched.... Sorry, my generation played sports, and guitars ect.... not video games, and with computers... Help a guy out!

tou·ché!!! That's tellin' 'em Grandpa   ;D