Silk Road forums

Discussion => Newbie discussion => Topic started by: msonder on February 07, 2013, 11:30 am

Title: Bitstamp and moving B to SR.
Post by: msonder on February 07, 2013, 11:30 am
So I bought bitcoins for a total value of 200+ usd. Made order and it bought only 1 and leaving 203usd, then I canceled order andmade another one, then it bought 4...why it is happening like that?

And how I can move my bitcoins to SR to start ordering?
Title: Re: Bitstamp and moving B to SR.
Post by: msonder on February 07, 2013, 11:51 am
Anyone?
Title: Re: Bitstamp and moving B to SR.
Post by: msonder on February 07, 2013, 12:13 pm
Please someone guide me who knows how to.
Title: Re: Bitstamp and moving B to SR.
Post by: FugNuggetz on February 07, 2013, 12:42 pm
This is why I don't use bitstamp when I want my BTC quickly.

When you place a market order for BTC the system transfers any bitcoins waiting to be sold by other users who are using market sell.  Bitstamp does not have that large of a market volume so its actually possible to place a market order and it just sit for a while. In your case there was only 1 BTC available, so it gave that to you and has the remainder of the order en que. It will execute as soon as there are bitcoins available. If you are feeling impatient you can use a limit order and buy them at a higher price from someone and get them instantly. Use the market book to see the "Bids" which are limit buys from other users wanting "X" amount of BTC for "Y" amount of money each, and the "Asks" which are BTC being sold via market sell by users.

The advantage of market sell and buy orders is that you can trust that eventually the order will be executed, as the amount you are paying stays variable so the order will always be up to date with the market.

The disadvantage is that within the time you place a market order and the time you receive your BTC the price may have gone up by some amount since you are telling the exchange to give them to you at whatever value the market sell is at. By the same token you can place limit orders for lower amounts of money if you expect the price to drop.

Using the limit function its possible to play the market derivatives and save money on your bitcoins, or conversely get more for them when you are selling. I suggest looking at bitcoin charts (its a clearnet website that is easily found) for more info on the different markets.
Title: Re: Bitstamp and moving B to SR.
Post by: ChemCat on February 07, 2013, 12:47 pm
@FugNuggetz


+1 Karma for ya  :)

Peace,

ChemCat

8)
Title: Re: Bitstamp and moving B to SR.
Post by: msonder on February 07, 2013, 12:54 pm
Okay, problem with bitstamp is not so importand and got solved already.

Now I tried to store my bitcoins on SR. Opened my account and copied deposit adress, pasted it into bitstamp, it shown that withdrawal is finished, but still no BTC on my SR account.

Adn what was the thing about wallet, some important file storing and making a secure copy? Still haven't got it properly.
Title: Re: Bitstamp and moving B to SR.
Post by: ChemCat on February 07, 2013, 01:00 pm
This is on your "Account" Page :-)


"Please be patient, it may take a few hours for the Bitcoin network to confirm the transaction."


Peace,

Chemcat

8)
Title: Re: Bitstamp and moving B to SR.
Post by: msonder on February 07, 2013, 01:04 pm
And what about that offline and online wallets? What about that .bat file or something like that which if I lose I lose my bitcoins?
Title: Re: Bitstamp and moving B to SR.
Post by: JanDeBouff on February 07, 2013, 01:10 pm
You can only lose your offline bitcoins (they are stored in a wallet.dat file) this file holds your proof of ownership of certain bitcoins.
So anyone with that file can prove they own the coins to the network via wallet software and can use the coins.
https://bitcointalk.org/index.php?topic=137416.0
Title: Re: Bitstamp and moving B to SR.
Post by: ChemCat on February 07, 2013, 01:14 pm

+1 Karma for ya @ Jan  :)

Peace,

ChemCat

8)
Title: Re: Bitstamp and moving B to SR.
Post by: msonder on February 07, 2013, 01:20 pm
Okay, now I understand a lot more. Thanks for answers.

Another question, if vendor require 5 prior transactions, can I buy 5 e-books and then order from him? Because I want to buy weed, but have 0 feedbacks, but have no time to buy 5 other things which I do not need and only after month I can order what I want and need now.
Title: Re: Bitstamp and moving B to SR.
Post by: freshmine on February 07, 2013, 01:41 pm
Okay, now I understand a lot more. Thanks for answers.

Another question, if vendor require 5 prior transactions, can I buy 5 e-books and then order from him? Because I want to buy weed, but have 0 feedbacks, but have no time to buy 5 other things which I do not need and only after month I can order what I want and need now.

There are plenty of vendors that do not require prior transactions, no idea on your question, I would just recommend ordering your first few from people who don't require buyer feedback.
Title: Re: Bitstamp and moving B to SR.
Post by: msonder on February 07, 2013, 01:51 pm
The thing is that there are few vendors who sell that amount, ships to the right place and for the right price.
Title: Re: Bitstamp and moving B to SR.
Post by: msonder on February 07, 2013, 02:00 pm
Fuck. I am entering PIN for purchase, it shows that it is incorrect.

When I registered there I wrote every password and important information on sheet, I have written Withdraw password for SR, it should be the necessary PIN.