Silk Road forums
Discussion => Silk Road discussion => Topic started by: MissNatural on September 04, 2013, 01:46 am
-
Seriously. The last 5-6 orders I have placed over the past few weeks, the established bitcoin price is always at least $5-8 lower than is listed at Gox Market. Gox has been at about $140-145 all day. Like I literally just placed a $3000 order and the coins cost me about $3300. Outrageous. There hasn't even been a flucation in the time I bought them and got them transfered.
-
Gox Sucks. Dont use them
problem solved
-
It has nothing to do with Gox. MtGox is where the almost 80-90% of all bitcoin transactions take place. I say it doesn't matter because all of the major trades are priced pretty similar to Gox. Even so, SR would be foolish to take their primary bitcoin price from any place other than the primary bitcoin exchange. I could go on.
-
It has nothing to do with Gox. MtGox is where the almost 80-90% of all bitcoin transactions take place. I say it doesn't matter because all of the major trades are priced pretty similar to Gox. Even so, SR would be foolish to take their primary bitcoin price from any place other than the primary bitcoin exchange. I could go on.
40% and dropping
http://bitcoincharts.com/charts/volumepie/
-
Seriously. The last 5-6 orders I have placed over the past few weeks, the established bitcoin price is always at least $5-8 lower than is listed at Gox Market. Gox has been at about $140-145 all day. Like I literally just placed a $3000 order and the coins cost me about $3300. Outrageous. There hasn't even been a flucation in the time I bought them and got them transfered.
I am very suprised to see this from a vendor.
So why exactly would SR only use MTGOX pricing if we cant cashout using MTGOX pricing? it is a artificially inflated market, there customers are trapped into doing business with them. The only reason all the market follow closely is because people buy coins from them (forced to buy coins from them) then move them to another exchange to sell them for fiat. So why does SR not use MTGOX alone? because all the vendors would be fucked 10-15% rite off the hop not including the 4% hedging fee. Welcome to 4 weeks ago.
-
Seriously. The last 5-6 orders I have placed over the past few weeks, the established bitcoin price is always at least $5-8 lower than is listed at Gox Market. Gox has been at about $140-145 all day. Like I literally just placed a $3000 order and the coins cost me about $3300. Outrageous. There hasn't even been a flucation in the time I bought them and got them transfered.
I am very suprised to see this from a vendor.
So why exactly would SR only use MTGOX pricing if we cant cashout using MTGOX pricing? it is a artificially inflated market, there customers are trapped into doing business with them. The only reason all the market follow closely is because people buy coins from them (forced to buy coins from them) then move them to another exchange to sell them for fiat. So why does SR not use MTGOX alone? because all the vendors would be fucked 10-15% rite off the hop not including the 4% hedging fee. Welcome to 4 weeks ago.
like to add in to how right sellitall99 is. even now us vendor have to sell the coins for $5-$10 less then what SR says they are rate is.
-
MtGox doesn't have any liquidity. It is not where exchanging takes place anymore. It is where people scramble to buy bitcoins to get their funds off of the website. The SR rate is still higher than it should be. Take a look at the value on some of the exchanges that have liquidity. bitstamp.net btc-e.com campbx.com :)
-
Mt Gox is shit.
SR uses Mt Gox because it is still the most popular.
I'm glad the exchange I use it kept secret & small. ;)
-
Mt Gox is shit.
SR uses Mt Gox because it is still the most popular.
Yes it is shit.
No one uses MtGox. SR still uses MtGox in the equation because buyers complained because they want their coins to be worth as much as they pay for them or in most cases more than they pay for them so vendors have to raise their prices. ::)
-
Gox is total shit like others said. SR BTC price is not bad and quite fair considering.
Real problem is greedy $ > BTC vendors that insist on use Mt Gox LAP to pad they pockets.
-
Mt Gox is shit.
SR uses Mt Gox because it is still the most popular.
Yes it is shit.
No one uses MtGox. SR still uses MtGox in the equation because buyers complained because they want their coins to be worth as much as they pay for them or in most cases more than they pay for them so vendors have to raise their prices. ::)
It's still popular for some buyers, but I don't think many buyers would use it.
Their market share is eroding away...
-
Price at gox was 144ish at one point while SR value was 136~ and slowly climbing to match. Then gox drops to 134~ and SR falls to 128~? Its clearly set a few points lower and, weather intended or not, is favoring the SR house fee side. The price shouldn't intentionally drop faster than gox.
-
Price at gox was 144ish at one point while SR value was 136~ and slowly climbing to match. Then gox drops to 134~ and SR falls to 128~? Its clearly set a few points lower and, weather intended or not, is favoring the SR house fee side. The price shouldn't intentionally drop faster than gox.
Is that the weighted average price?
That's what SR goes by.
-
Price at gox was 144ish at one point while SR value was 136~ and slowly climbing to match. Then gox drops to 134~ and SR falls to 128~? Its clearly set a few points lower and, weather intended or not, is favoring the SR house fee side. The price shouldn't intentionally drop faster than gox.
Is that the weighted average price?
That's what SR goes by.
I was watching BitCoinity which goes by gox I believe. My bad for not specifying.
-
DPR should not be using Mtgox price. It is not a realistic number.
-
The BTC exchange rate is completely fucked. Right now the price here is about $129 per BTC. On Mt. Gox it's $132.5. On BTC-E it's $117. On Vircurex it's $118.
I don't know about you but I'm feeling mighty ripped off right now.
DPR needs to decide what to use to establish a proper price on this site. Because what I see going on right now is totally not cool and discourages trade. >:(
-
The BTC exchange rate is completely fucked. Right now the price here is about $129 per BTC. On Mt. Gox it's $132.5. On BTC-E it's $117. On Vircurex it's $118.
I don't know about you but I'm feeling mighty ripped off right now.
DPR needs to decide what to use to establish a proper price on this site. Because what I see going on right now is totally not cool and discourages trade. >:(
As a buyer you are getting a great deal. As a vendor you are getting ripped off or have to increase prices to make up for the difference.
-
hi hi
this has been discussed before quite a bit, and DPR posted a bunch of times in various threads regarding how the SR BTC price is derived. forgive me for not having a quick link to those posts, but feel free to browse his post history and find it for yourself. if memory serves, this occurred within 30 days (if you wanted to limit your search parameters)
summary: starting around beginning of summertime (northern hemisphere), virtually no seller cashes out coins at gox rate, so there were many complaints in the vendor forum to ditch gox entirely in favor of bitstamp/btc-e. so, he graciously agreed and changed it.
few hours or a day later, whole host of buyers complained they were getting ripped off, since they had been buying BTC at gox rate (either directly on gox, or via other means that quoted gox's price) so once again, DPR met everyone in the middle and incorporated gox rate back into the fold.
so that is where we sit right now. SR rate is nearly dead middle - exactly halfway - between gox and bitstamp.
so, as a pro tip for all the buyers: if you are able to purchase coins at campbx, btce, bitstamp or any of the other exchanges EXCEPT gox, you should do that, and you'll get a slight boost on your purchasing power.
the short of it is this: gox has been losing quite a bit of market share for the past few months to other exchanges due to its wire situation (or lack thereof) and the price reflected in that exchange is no longer the de facto standard for BTC pricing.
hope this helps!
xoxo
-mb
-
LMAO. Never have I seen such mistrust. Gox is the only exchange worth trusting. Where the hell did this crazy distrust for Gox come from? Gox is the one exchange that cannot be affected and will not comply with DEA subponeas. Gox has been legit as fuck for me. I've cashed out well over 7 digits into [cashout method removed, vendors may pm me] over the last 2 years with Gox and they have never given me any problems nor ever stuck up my money. I trust them FAR more than any other exchange.
On top of this all, I am not entirely sure why this vast differences in exchange prices is not being exploited? Buy at 115 on one exchange, sell for 145 on Gox? Instaneous profit? You always hear of other exchanges being hacked, shutting down, stealing peoples coins, but in the past 2 years Gox has never given me any issues or fucked with my money whatsoever.
On top of this. Gox is the exchange that every major bitcoin seller uses, that I have talked to. I'm talking about the major sellers who are completely open about their identity who sell up to $50,000-100,000 bitcoins per month and never ask any questions and pay all their taxes legitimately so no government fucks with them either. If you move lots of bitcoins you are stupid not to use Gox to exchange them.
-
On top of this all, I am not entirely sure why this vast differences in exchange prices is not being exploited? Buy at 115 on one exchange, sell for 145 on Gox? Instaneous profit?
The reason is that you can't easily get USD out of gox. This is why there is a difference in price and this is why many consider gox's price a worthless indicator of value.
-
On top of this all, I am not entirely sure why this vast differences in exchange prices is not being exploited? Buy at 115 on one exchange, sell for 145 on Gox? Instaneous profit?
The reason is that you can't easily get USD out of gox. This is why there is a difference in price and this is why many consider gox's price a worthless indicator of value.
I don't know about you but I can. I mean sure it's an almost 2 week wait for very long amounts but it sure as hell beats paying a 8-15% cashout fee that a lot of bitcoin vendors charge. I've cashed out well over 6 digits out of Gox and I've never had any problems.
-
DPR should not be using Mtgox price. It is not a realistic number.
To the best of my knowledge it is Mt. Gox & Bitstamp average, I have been using this method and prices on SR have been pretty darn close.
I would like to see the current price beside my account at the top and not having to scroll to the bottom of the page which can be a real pain when the vendors page is like a bloody scroll lol
-
This is just hearsay I'm going to be honest because I don't know all these is to know about bitcoin, but there is a forum out there where all these investment types discuss bitcoin and speculate on where they believe the price will go in x amount of time. Just google "bitcoin speculation forum" it'll be at the top. Anyways, I've read there that the price of mt. gox is directly linked to the price at bitstamp. Even though the prices aren't the same, it's pretty obvious don't you think? The price of bitcoin dropped a couple of days ago on mt. gox and it also dropped on bitstamp too. When the price goes up on bitstamp it goes up on gox. Now volume is shifting from mt. gox to bitstamp but nevertheless about a week ago when prices of bitcoin shot up into the $140's on gox that was a result of a whale buy on mt. gox of aprox. 1.5 million USD in bitcoin. So mt. gox is not irrelevant like some of you believe. In fact one poster in this thread said they made a $3000 order from $3300 worth of bitcoin they bought on gox. Because like jack said there isn't liquidity with gox then what happens is there's nothing to do with your coins except buy or trade on there.
So basically what I'm trying to say is what DPR and others already have said. There are two relevant exchanges here with 2 different prices about $10 apart so we're taking an average of the two. If you buy your coins on bitstamp or at that price, you're a happy camper. If you're selling at that price, you're not. If you buy your coins on mt. gox or at that price, you're not a happy camper. If you're selling at that price, you are. Half the people are happy and half aren't. It has nothing to do with vendors vs. buyers but rather where you buy your coins and where you sell them. Can't please everyone right now but I see no better way. Mt. Gox still needs to be part of the equation IMO.
-
Does anyone know how likely mt. gox is to gain liquidity at any point in the near future or is it all speculation at this point?
-
Gox Sucks. Dont use them
problem solved
bravo, no can get money out of gox look at BTC-e no paperwork and cheapest coins in town.
if you buy from GOX you are well primative.