Silk Road forums
Discussion => Silk Road discussion => Topic started by: tommygun on March 13, 2013, 01:44 am
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Is it like a daily or hourly thing? Anyone happen to know? Where does the exchange info come from MtGox?
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I'm honestly not sure when SR values get updated, but the worth of my BTC was gradually going down on SR so I decided to pull my money out and send it to my Mt Gox account.
Now I'm just waiting for the transfer to complete... :-\
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I'm pretty sure that the SR rate is the 24 hour weighted average Mt. Gox rate. That makes it less volatile than the spot rate (most recent transaction) on Mt. Gox. Unless you're trading in and out of bitcoins frequently, it shouldn't make any material difference whether you're coins are in Mt. Gox or SR. Having them in SR wallet means they are available when you want to buy something. Isn't that the reason why most people on SR own bitcoins? It can take a couple of hours to do a transfer from Mt. Gox to Silk Road at times, which can be a serious pain in the ass when you want to make a purchase and you end up waiting around for the BTC to arrive from Mt. Gox.
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Hey Jack, but do you think the weighted average is only updating once a day? It seems less frequent than hourly..
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Well it definitely updated since I last posted, I was looking at a listing for 3.25 BTC and now its 3.23.
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no, SR has it's own formula - ping a mod to confirm
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Ok well it updated again, now that listing is 3.22, so I guess its pretty regular updates afterall.
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It's been consistently lower then the actual rates for weeks, about .50 or so, sometimes a $1.00
The only time it's above rate is when the market is falling.
The rate is a weight average, but lately it's been below the daily rate.
I see updates almost hourly.
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it would be really useful if somebody clarify the issue! i've always wondered too!
thanks