Silk Road forums

Discussion => Security => Topic started by: zebra420kitty on March 27, 2013, 08:42 pm

Title: I wish SR BTC was at the actual rate.
Post by: zebra420kitty on March 27, 2013, 08:42 pm
I noticed yesterday that when btc is on  a rise sr lags behind and also just in general. BTC are currently worth 84.02 USD. Well on Blockchain.info they are at 88.2 BTC. I want to make a few hundred dollar purchase but that would be retarded because i can wait how ever long it takes to get to where it actually is and i will make around $30. But its not actually making $30 Its money that i should already have, but because sr lags behing the actual rate.
Title: Re: I wish SR BTC was at the actual rate.
Post by: namuld on March 27, 2013, 08:54 pm
SR matches the weighted average of https://mtgox.com/ . Prevents big fluctuations in price like last week(?) where btc moved $10 +- throughout the day.
Title: Re: I wish SR BTC was at the actual rate.
Post by: wretched on March 27, 2013, 09:08 pm
I wish SR BTC was at the actual rate.

But only when it works out for you right?
Title: Re: I wish SR BTC was at the actual rate.
Post by: zebra420kitty on March 27, 2013, 10:44 pm
SR matches the weighted average of https://mtgox.com/ . Prevents big fluctuations in price like last week(?) where btc moved $10 +- throughout the day.
Oh That makes more sense! (:. Thanks for letting me know.

I find it weird that, thats how it is though since essentially you automatically lose money when you buy btc.
Title: Re: I wish SR BTC was at the actual rate.
Post by: zebra420kitty on March 27, 2013, 10:47 pm
I wish SR BTC was at the actual rate.

But only when it works out for you right?
yes / no. It generally works out in everyones favor. I follow btc very closely and pretty much everyone would benefit from it. But the vendors would beneffit the most. Since they do all their transactions in btc they get a certain amount from a sale in btc. And once the funds are released the btc is almost always worth more then when they purchased it. but i may be ignorant to the topic of how that works. (:
Title: Re: I wish SR BTC was at the actual rate.
Post by: namuld on March 28, 2013, 12:50 am
I wish SR BTC was at the actual rate.

But only when it works out for you right?
yes / no. It generally works out in everyones favor. I follow btc very closely and pretty much everyone would benefit from it. But the vendors would beneffit the most. Since they do all their transactions in btc they get a certain amount from a sale in btc. And once the funds are released the btc is almost always worth more then when they purchased it. but i may be ignorant to the topic of how that works. (:

Recently, yes it would be a benefit. But if you've been here awhile then you'll see it's much better using the weighted average and that btc has in the past done some crazy drops in value. I've been following the charts since 2011 when bitcoins cost $2 lol.
Title: Re: I wish SR BTC was at the actual rate.
Post by: Wazup7 on March 28, 2013, 01:11 am
The only reason you wish this is because Bitcoins are rising in value compared to dollars pretty much constantly.

If Bitcoins were consistently losing value compared to dollars--say, dropping $1 per day--you would be saying "I wish SR would take longer to catch up to the actual rate" so that your Bitcoins would be worth their current value for longer, instead of losing value right away.

If you want to buy drugs, then buy drugs.  If you want to get returns on your Bitcoins, then you have to hold on to them for longer while their value is rising. 

I was getting set up to make a big purchase here on SR--bought the coins, but decided to hold off (this was a few weeks ago).  Now, with what my coins are worth after the recent run-up, I can make that huge purchase, cash out the rest of my coins, and have more money than I put in.  The way things are going now, patience really does pay.
Title: Re: I wish SR BTC was at the actual rate.
Post by: zebra420kitty on March 28, 2013, 01:22 am
The only reason you wish this is because Bitcoins are rising in value compared to dollars pretty much constantly.

If Bitcoins were consistently losing value compared to dollars--say, dropping $1 per day--you would be saying "I wish SR would take longer to catch up to the actual rate" so that your Bitcoins would be worth their current value for longer, instead of losing value right away.

If you want to buy drugs, then buy drugs.  If you want to get returns on your Bitcoins, then you have to hold on to them for longer while their value is rising. 

I was getting set up to make a big purchase here on SR--bought the coins, but decided to hold off (this was a few weeks ago).  Now, with what my coins are worth after the recent run-up, I can make that huge purchase, cash out the rest of my coins, and have more money than I put in.  The way things are going now, patience really does pay.

You made some good points! +1 (:

I also made some money, not too much just about 60$ but that was from waiting one day!!! which was amazing. I ended up being able to get some k aswell as a bunch of mdma (:
Title: Re: I wish SR BTC was at the actual rate.
Post by: zebra420kitty on March 28, 2013, 01:23 am
I wish SR BTC was at the actual rate.

But only when it works out for you right?
yes / no. It generally works out in everyones favor. I follow btc very closely and pretty much everyone would benefit from it. But the vendors would beneffit the most. Since they do all their transactions in btc they get a certain amount from a sale in btc. And once the funds are released the btc is almost always worth more then when they purchased it. but i may be ignorant to the topic of how that works. (:

Recently, yes it would be a benefit. But if you've been here awhile then you'll see it's much better using the weighted average and that btc has in the past done some crazy drops in value. I've been following the charts since 2011 when bitcoins cost $2 lol.

+1
Title: Re: I wish SR BTC was at the actual rate.
Post by: Obnubilate on March 28, 2013, 06:38 am
I, too, wish that the SR rate followed the actual market rate when it was going up, and lagged far behind when it was going down.

Unfortunately, things don't go like this-
It's fair both ways, you can either make a huge profit, or a huge loss.
(Usually, though you end up with a profit. As a vendor, anyways.)