Silk Road forums
Discussion => Newbie discussion => Topic started by: mkallday on April 26, 2013, 04:32 am
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when i first started watching the rise and fall of bitcoins vs the usd, i saw it at 1btc=$50 usd. now, a few weeks later its over $150 for 1 btc. my question is, when do i buy the bitcoins? and does the rise and fall matter here on SR or not?
like say i go ahead and purchase 1btc right now for $150. and say i wanted to buy something on SR for .50 btc.
would i still get the same bang for my buck? as if i would of purchased the same item weeks ago? when the btc was only $50? or would i be out a pretty penny? so i guess what im asking is does the sellers prices also rise and fall according the the btc value?
thanks in advanced :D
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My understanding is the prices are fixed to USD, and will fluctuate throughout the day. I know I have seen some listings go unchanged, so this may just be an option the vendors have much like whether or not to hedge their orders. Which is probably good insurance to have for the vendors right now with bitcoin being volatile and bubbling on a regular basis.
Speculating on bitcoin... your guess is as good as mine, I find it goes up at a pretty steady rate ordinarily, but when you have a currency that's going to be more valuable tomorrow... why not wait and get more for your money? right?
Wrong. Bitcoin is a cruel bitch, take any amount you have in bitcoin a gamble and spend your bitcoin while your ahead. always my motto.
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I wonder this a lot myself. I gather that SR uses the moving avg from mt gox, or something similar, and updates it once a day.
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thanks for responses :)
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I wonder this a lot myself. I gather that SR uses the moving avg from mt gox, or something similar, and updates it once a day.
Yes it uses the mtgox 24 hour average. It updates every 30 minutes if I remember correctly. Vendors choose if they want to peg their prices to mtgox 24 hour average or just have prices in btc.