Silk Road forums

Discussion => Newbie discussion => Topic started by: RockoJessie on March 28, 2013, 11:08 am

Title: BTC Valu at $98 Just got a quick question
Post by: RockoJessie on March 28, 2013, 11:08 am
k suppose we all know the price of BTCs have shot up in d last month or so, by a LOT!!

How is this going to affect SR?  Like if a BTC was worth $10 all prob would be ok but at $93 bucks how
can a buyer get a good deal? Im in this for benos mainly, Il just give an example

15 Xanax 2mg bars @ ฿5.98
If 1 bitcoin is $98,54 t mtgox thats gonna cost say me a buyer in and around $147 for 15 pills lmao is that right???
Im really confused because I want to buy in bulk and if its gonna be costing me $98 for 1 BTC is there any point
doing biz here right now? Will the price of BTC drop? All I can see is the pric going up and up and up lol

:-) I really hope the peeps here that are in the know about all of this can help me out, when I seen SR first I was
delighted with the selection available too me but im lost on the prices i  need help heh :-)
Title: Re: BTC Valu at $98 Just got a quick question
Post by: psychedelicmind on March 28, 2013, 11:18 am
If you had a btc worth $10 a month ago, and it is now worth $93, your spending power has increased by almost 10 fold. Basically, you can now get $93 worth of goods for the 1 btc that you paid $10 for a month ago. 15 Xanax bars for $147 would be 1.58 btc (Price in dollars / value of bitcoin).

If you bought bitcoins a month ago and hoarded them until now, your spending ability will have seriously increased. Or you could make a lot of profit by cashing the coins back out again.

I hope I have answered what you are asking :)

PS you can change your settings to see the prices displayed in dollars. Makes it a lot easier. Just go to Account >>> Settings >>> Click 'Display price in settings'.
Title: Re: BTC Valu at $98 Just got a quick question
Post by: ladyjane on March 28, 2013, 11:24 am
Go into your SR accout > settings > change listings to show in USD
Most vendors peg their prices to the USD and not bitcoin
So if they are selling xanax and want $100 for 1 bar, that would currently be close to 1 bitcoin you would pay
However if the bitcoin rate suddently was $200:1, the item will still be listed at $100 and you would only pay 0.5 bitcoins
On the flip side if bitcoin crashed to a value of $50:1, the item would still cost $100 and you would need to pay 2 bitcoins.

No one can really determine what will happen to the price of bitcoins, you just have to do your research and make an educated decision. They may rise and rise forever, they may crash and settle, or crash and rise, no one can tell you definetly one way or the other.
Title: Re: BTC Valu at $98 Just got a quick question
Post by: Overtau on March 28, 2013, 12:22 pm
Congats if you've managed to ride the BTC wave by sheer luck.
Title: Re: BTC Valu at $98 Just got a quick question
Post by: jackofspades on March 28, 2013, 01:04 pm
This has been answered before,
as price of BTC goes up the amount of BTC you need to buy something decreases
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