Silk Road forums

Discussion => Newbie discussion => Topic started by: jundullah on April 30, 2013, 02:32 am

Title: BTC exchange rate
Post by: jundullah on April 30, 2013, 02:32 am
I hope the BTC exchange rate doesnt drop to much before the Silk Road full operational.

Any thoughts on this? Any one
Title: Re: BTC exchange rate
Post by: slirp on April 30, 2013, 02:34 am
When SR comes back a lot of people will be finalizing.  For vendors it is important that BTC value doesn't drop between finalization and whenever they convert that BTC for dollars or whatever.
Title: Re: BTC exchange rate
Post by: zionize on April 30, 2013, 02:43 am
unless the transaction is hedged, in which case changes in the exchange rate don't affect vendors
Title: Re: BTC exchange rate
Post by: slirp on April 30, 2013, 02:51 am
It isn't hedged after people finalize.  A person might finalize when the mt gox weighted average is $145 but the current trading price might be $130.  When that happens the vendor kind of gets screwed.
Title: Re: BTC exchange rate
Post by: jundullah on April 30, 2013, 02:54 am
Well I just had enough to pay for my order. Then my BTC transfer from Bitstamp to Silk Road  got stuck for almost 3 day that was during the weekend. After support ticket I got my coins back. Made the transfer to Silk Road. But then the price of my order rose and I did not have enough to pay. It was a custom order. I send a message to the vendor and after that Huston had a problem