Silk Road forums
Discussion => Newbie discussion => Topic started by: enjoytheride85 on March 20, 2013, 01:53 am
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Hey guys - new to the forum. I have tried searching but I haven't really found anything to answer this question. Maybe I just cant work the search bar..
So I purchased some bitcoins today (probably not a good idea to purchase so hi.. but wtf). After all the fees and everything it turns out I should have had 403$ to bring over to the SR. After purchasing, and shuffling between some wallets, I finally transferred to the road. What showed up was only 385$. WTF happened to the rest of the cash??! The only thing I can think of is in between my order set up and my trip to the make my money transfer the exchange rate went even higher?
Any insight would be greatly appreciated. Or feel free to shove me in the right direction.
Quick aside: how does the road adjust for such jacked up variations in bitcoin rates? Seems if you buy when they are high, you would get a good deal, buy low... not so much. If the bitcoin drops back down, I just lose all that money?? Money that = drugs?!
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bump for a little help - fucking spammers!!
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You can change your settings to go from BTC to Dollars ... Not sure how sr deals with btc price flux but it seems to not be a big deal with most people here
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Enjoy, I think the reason for the missing cash could be a one of a few things:
*The money could have been taken out as fees depending on which wallets to which you transferred the BTC
*SR goes by MtGox's "weighted average" So, even though you might have bought your coins for...say $57, and the weighted average is currently 55.66, then your BTC's value only holds $55.66 on the Road. If you give it a day or it might catch up in the next couple of days (or go down depending on the value of BTC), as the weighted average is recalculated every 24hrs. But yea, Bitcoins usually sell for more than they're actually worth.
I currently have a ticket open with BitInstant regarding something very similar, so I'll share anything that I learn from them.
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Enjoy, I think the reason for the missing cash could be a one of a few things:
*The money could have been taken out as fees depending on which wallets to which you transferred the BTC
*SR goes by MtGox's "weighted average" So, even though you might have bought your coins for...say $57, and the weighted average is currently 55.66, then your BTC's value only holds $55.66 on the Road. If you give it a day or it might catch up in the next couple of days (or go down depending on the value of BTC), as the weighted average is recalculated every 24hrs. But yea, Bitcoins usually sell for more than they're actually worth.
I currently have a ticket open with BitInstant regarding something very similar, so I'll share anything that I learn from them.
That makes a lot of sense... difference with the weighted average vs. the market price. I didn't consider that! I'd be interested to hear what BitInstant has to say, as that is the same route I go. Thanks for the info!