Silk Road forums

Discussion => Silk Road discussion => Topic started by: ValiantExplorer on November 29, 2012, 07:28 pm

Title: Does SilkRoad adjust prices for BitCoin inflation/deflation?
Post by: ValiantExplorer on November 29, 2012, 07:28 pm
... or do sellers have to do it?

Lately the BC got from 10 USD apiece to 12...

Thanks in advance! :)
Title: Re: Does SilkRoad adjust prices for BitCoin inflation?
Post by: acider on November 29, 2012, 08:08 pm
Yes.
Vendors put prices in USD, so the prices on the listings change automatically when btc value falls/rises.
Title: Re: Does SilkRoad adjust prices for BitCoin inflation?
Post by: ValiantExplorer on November 29, 2012, 09:29 pm
Oh! That's awesome. Thank you for this good news :).
Title: Re: Does SilkRoad adjust prices for BitCoin inflation?
Post by: lucidmatrix on November 29, 2012, 09:35 pm
When the price of bitcoin goes up it's not inflation, it's gaining value compared to USD. It gains purchasing power. If it were inflating the price would go down vs usd.

eg. Bitcoin price was $10 each
Product costs $100 / 10BTC

Bitcoin Price goes to $12 each
Product costs $100 / 8.33BTC

The prices (in BTC) are going down not up. So buy bitcoins when they are low and you will be able to buy more when the price inevitably rises.
Title: Re: Does SilkRoad adjust prices for BitCoin inflation/deflation?
Post by: ValiantExplorer on November 29, 2012, 09:51 pm
Right, sorry for that mistake. I updated the topic title to better reflect my question.