Silk Road forums
Discussion => Security => Topic started by: XTCandLSDHappyME on September 27, 2013, 08:37 am
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Hello everyone! I was just wondering if anybody knows why bitcoins are currently so much to buy on trading sites compared to the value they are worth on the road? For example, I use Localbitcoins and the cheapest people selling them on there are roughly £89-90 and they are only worth about £81 on SR. Its not a massive difference if you're only ordering small but for bigger orders it makes quite a bit of difference! Up until a few days ago they were roughly the same to buy as SR value. Can anybody shed any light on this?
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noticed the same thing but have no explanation:(
there is another topic in the off topic section regarding this.
hopefully it will go back to normal prices again
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I should imagine it's down to a couple of things. 1) AFAIK the SR BTC price is aggregated from a couple of sources (at least, I'm sure I read that when there was an announcement that they'd stop using one of the market's prices, MTGox I think), so the average is then bought down by cheap rpices on some other market, maybe not in the UK. 2) The SR exchange rate is not (again, AFAIK) 'live' and constantly being adjusted in response to instantaneous changes, so there is likely to be a lag between market prices and SR prices. 3) There seems to have been some leaning on UK markets, at least that's the impression I get by the removal of some of them (like the removal of any way to buy from the UK through Blockchain), which creates a 'sellers market' I guess....
I am of course happy to be corrected on either of these points if any admins wanna jump in...
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i was just gonna start a thread asking the same thing. they are currently between £91/92 atm. they usually have a bigger range of prices than that between the highest and lowest. sometimes up to £8 difference. i just went and put £72 in the bank to get coin for a £68 order and now it turns out the btc needed to make the order on sr is gonna cost me £76.50. that's nearly an extra tenner on the price of the item. anyone reckon this will change anytime soon? i really wanted my order in before it gets too late tonight.
also coinmill got the btc rate at £82.60. i've been getting coin on localbitcoins lately at no more than a pound over the btc price, sometimes even less than the going rate.
update: its come down to £75.11 so here's hoping. its the btc price on the vendors page that has come down tho. the lbtc prices are still pretty much the same except one new seller has appeared at £90.49/btc
update2: now £74.07. this could happen if i'm lucky.
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Really weird
Like you I buy btc from localbitcoins as its best place for UK. Haven't bought any in a couple weeks but it was always slightly lower cost on local compared to SR rate which was great
Hope it goes back to normal soon, I was wanting to purchase some more!
Maybe its a few cowboy sellers tryna make a quick buck
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there's a guy on there right now doing them for £84.22/btc, but he's got a fucking £180 minimum. ffs man, my usual man came on a while ago and was nearly cheap enough for me to buy what i needed but he had his minimum set to £500 for some reason. wtf is with all these high minimum purchase amounts.
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sorted!! :)
just got £69 worth for £70.46. that's cool i can easy live with that. i used the guy called eoj if anyone needs some he's online now. first time i used him and he was sweet as fuck, took literally two minutes.
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We know what you mean!
The were 69.99 less than a month ago.....now nearer 87.50! :o
Just glad we mined ours back at the beginning, when mining 1 BTC only took the time to make a cup of tea.
Namaste.
MACHINE ELVES
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sorted!! :)
just got £69 worth for £70.46. that's cool i can easy live with that. i used the guy called eoj if anyone needs some he's online now. first time i used him and he was sweet as fuck, took literally two minutes.
where did you get them coins so cheap.
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sorted!! :)
just got £69 worth for £70.46. that's cool i can easy live with that. i used the guy called eoj if anyone needs some he's online now. first time i used him and he was sweet as fuck, took literally two minutes.
where did you get them coins so cheap.
localbitcoins. i didn't get them till about 11pm tho, watch lbtc for about 5 or 6 hours just waiting for a price that i could get them for.
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i was just gonna start a thread asking the same thing. they are currently between £91/92 atm. they usually have a bigger range of prices than that between the highest and lowest. sometimes up to £8 difference. i just went and put £72 in the bank to get coin for a £68 order and now it turns out the btc needed to make the order on sr is gonna cost me £76.50. that's nearly an extra tenner on the price of the item. anyone reckon this will change anytime soon? i really wanted my order in before it gets too late tonight.
also coinmill got the btc rate at £82.60. i've been getting coin on localbitcoins lately at no more than a pound over the btc price, sometimes even less than the going rate.
update: its come down to £75.11 so here's hoping. its the btc price on the vendors page that has come down tho. the lbtc prices are still pretty much the same except one new seller has appeared at £90.49/btc
update2: now £74.07. this could happen if i'm lucky.
You guys get them for much cheaper than we do in the US if you've found them for 74 pounds! I paid $130 a coin (around 80 pounds). I paid $123 about 2 weeks ago.
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i was just gonna start a thread asking the same thing. they are currently between £91/92 atm. they usually have a bigger range of prices than that between the highest and lowest. sometimes up to £8 difference. i just went and put £72 in the bank to get coin for a £68 order and now it turns out the btc needed to make the order on sr is gonna cost me £76.50. that's nearly an extra tenner on the price of the item. anyone reckon this will change anytime soon? i really wanted my order in before it gets too late tonight.
also coinmill got the btc rate at £82.60. i've been getting coin on localbitcoins lately at no more than a pound over the btc price, sometimes even less than the going rate.
update: its come down to £75.11 so here's hoping. its the btc price on the vendors page that has come down tho. the lbtc prices are still pretty much the same except one new seller has appeared at £90.49/btc
update2: now £74.07. this could happen if i'm lucky.
You guys get them for much cheaper than we do in the US if you've found them for 74 pounds! I paid $130 a coin (around 80 pounds). I paid $123 about 2 weeks ago.
it wasn't a whole btc i was buying, i think it was .8399 or something around there. i paid 70.16 in the end but when i first logged on it was all like £91 per btc. i think by the time i bought mine it had come down to around £84
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coinmill got the btc rate at £82.95. there are sellers on localbtc right now selling at £83.00. can't complain at that.
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I c an help if your in the UK. Have a look at my vendor page