Silk Road forums
Discussion => Silk Road discussion => Topic started by: anonymous3210 on February 23, 2013, 11:17 pm
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mtgox has is trading at $29.91 for 1 btc. Sr is only valuing btc at 29.06...what's the deal?
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I knew it! i suffer from multiple personality disorder!
Not only do i use a similar username, but i also post the same stuff when im high:
http://dkn255hz262ypmii.onion/index.php?topic=121876.msg838417
:D
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lmao....
your thread didn't get any real answers, though! i tried averaging the 24 hour high and low, but that comes out to be 29.34. p/btc. value is still dropping on SR, yet it's been dancing between 29.5 and 30 on mtgox for hours! It's literally hours behind...
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now SR is valuing 1 btc at $28.94 dollars, where as mtgox has it at $29.5 BUMP!
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It's because SR, like BMR, just takes snapshots at different times of the day and applies the then-current exchange rate until the next snapshot. Mt. Gox, like Bitfloor, is a bona fide exchange service, so you get real-time trading data, which is necessary for trading but not so much for the marketplace.
It's no different than if you traveled to another country (say, Qatar), where your USD that morning are worth 3.14 Qatari dinar. So, you go to the mall, and you'll find that every single salesperson known the day's exchange rate. It's pretty cool to see. Anyway, sometime during the day, your USD become worth 3.16 dinar, but you're not likely to notice. And, you're not likely to get the better exchange rate from anywhere except perhaps an ATM.
There's no reason to expect SR to have up-to-the-second exchange rate data, although it'd be nice.
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It's because SR, like BMR, just takes snapshots at different times of the day and applies the then-current exchange rate until the next snapshot. Mt. Gox, like Bitfloor, is a bona fide exchange service, so you get real-time trading data, which is necessary for trading but not so much for the marketplace.
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There's no reason to expect SR to have up-to-the-second exchange rate data, although it'd be nice.
SR's value setting does seem to change more often than every hour. So, I don't think it is a matter of 'SR's price was correct this morning but may be off later in the day as it is still set to the morning snapshot'. I have a feeling the OP has a valid question/point. I am not too worried about it being off by a bit from current rates. I just think it would be good if the way it is determined (for SR's valuation) was well known to everyone who cared. It may be in the "Buyer's Guide" or someplace easy to access, so maybe I am just poorly informed due to lack of research? I think SR may use the low end of a range of possible valuation methods intentionally for some good reason or other?
NWN
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. I just think it would be good if the way it is determined (for SR's valuation) was well known to everyone who cared.
I agree. Let me preface this by saying that I LOVE the Road, but I do also buy from BMR, and the one neat thing they have on their home page is the current exchange rate. Now, it's not the true "current" rate, but it's the rate they're using, and that at least gives you some fucking clue as to what things actually cost. With SR it's hard to know sometimes, because a price can be tied to BTC or USD, and that makes a big bloody difference, these days, when the value of the BTC keeps going up so quickly.
So, yeah, a little more transparency would go a long way. On the other hand, they call it the "black market" for a reason or two. ;)
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i also like the BMR style of currency display
3 currencies and their rates on every page.
cant be too hard to arrange
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o, yeah, a little more transparency would go a long way. On the other hand, they call it the "black market" for a reason or two. ;) SE2 I had to quote you on this. You crack me up with the sarcasm and realism. We spend so much time and effort to be "a nano" with everything we do here and around here it just cracks me up to read the word "transparency", but I understand we are speaking of money being spent and damn it they should be transparent.. Lol
SE2 your the best....Well maybe 2nd to Scout..haha
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I believe SR uses the 24 hour simple moving average. Not sure how frequently it's updated.
A moving average serves as a smoothing mechanism, which tends to smooth out price fluctuations -- i.e. it makes the price less volatile. It's a nice feature, because it minimizes large price swings in the short term, which is makes things more predictable, particularly for the buyer. No one likes it when a large negative market price swing causes them to be a few bit cents short when it's time to make the big purchase.
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but I understand we are speaking of money being spent and damn it they should be transparent.. Lol
Hehehe... thanks for the comments.. It's just, what's next, a toll-free customer support hotline? Refunds with a dated receipt? A shadow justice system with a shadow small claims court? So, on the one hand, we're modern-day consumers looking for the conveniences we find on modern-day shopping venues, but I think we sometimes forget. That we're multiple felons propping up a massive criminal enterprise. Which I'm all for, don't get me wrong, it's just that thing that philosopher Jagger used to say... "You can't always get..." something.