Silk Road forums

Discussion => Newbie discussion => Topic started by: guenter on February 17, 2013, 01:20 pm

Title: Bitcoin course - SR prices
Post by: guenter on February 17, 2013, 01:20 pm
Hi
I´m new here and as everybody i try to to get my things as cheap as possible so my question is:
In the last days/weeks  the bitcoin course raised very fast so what does that mean for the prices on SR?
Is there an automatically system which is balancing the prices on SR so that the price in real money is the same?
Or do the vendor reducing the prices if the bitcoin course raises? - I watched some prices the last days, but this didnt happen.
Or is it bad luck and the things are more expensive in comparison to the prices before 3 weeks?

Sry for my bad english, I hope you understand what i mean :)
Title: Re: Bitcoin course - SR prices
Post by: guenter on February 17, 2013, 04:26 pm
nobody?
Title: Re: Bitcoin course - SR prices
Post by: PrincessHIGH on February 17, 2013, 04:50 pm
 
nobody?
Hello guenter welcome to the forum I hope you enjoy your stay here. The majority of listings are pegged to the US $, meaning when the value of the US $ to Bitcoin increases the price of the listing decreases. You can change the listing price in Bitcoins to US $ via your account settings if this helps you. If you need to see the live Bitcoin exchange rates you can do so here (clearwebalert) mtgox.com by clicking on the drop down menu in the right hand corner (where it says USD) and scrolling down to the currency of your choice. Hope this helps you and happy travels (http://dkn255hz262ypmii.onion/Smileys/default/smiley.gif) 
Title: Re: Bitcoin course - SR prices
Post by: avast on February 17, 2013, 05:46 pm
Hi
I´m new here and as everybody i try to to get my things as cheap as possible so my question is:
In the last days/weeks  the bitcoin course raised very fast so what does that mean for the prices on SR?
Is there an automatically system which is balancing the prices on SR so that the price in real money is the same?
Or do the vendor reducing the prices if the bitcoin course raises? - I watched some prices the last days, but this didnt happen.
Or is it bad luck and the things are more expensive in comparison to the prices before 3 weeks?

Sry for my bad english, I hope you understand what i mean :)

Yes the current price for bitcoin match those on SR. Meaning if something costs 1btc on SR it costs the same as 1btc across the network.

This can be helpful or harmful. If you purchase 1btc for $20 and the price jumps to $40 for 1btc then you will have twice as much btc to make purchases. However if the price goes down to $10 for 1btc then you have half as many btc to make purchases since the value of the btc has decreased.
Title: Re: Bitcoin course - SR prices
Post by: PrincessHIGH on February 17, 2013, 06:23 pm
Yes the current price for bitcoin match those on SR. Meaning if something costs 1btc on SR it costs the same as 1btc across the network.

This can be helpful or harmful. If you purchase 1btc for $20 and the price jumps to $40 for 1btc then you will have twice as much btc to make purchases. However if the price goes down to $10 for 1btc then you have half as many btc to make purchases since the value of the btc has decreased.
What avast said 1 Bitcoin = 1 Bitcoin across the network is correct. Bitcoin is a very volatile currency, the value has rapidly inflated over the past two months more than doubling, the main reason for this is the mined Bitcoin blocks have halved from fifty to twenty five meaning the 'miners' have to work 'twice' as hard for the same amount of coins, add increased demand, and you've got a Bitcoin boom! If you're worried about Bitcoin devaluing, only buy the amount of Bicoins you need and spend them the on the same day, or on the day you acquire them, as some exchange methods will take longer than a day to process.