Silk Road forums

Discussion => Security => Topic started by: DeadRa7 on August 04, 2012, 12:34 am

Title: "Market Order" of Mt.gox just gave me a ride today...
Post by: DeadRa7 on August 04, 2012, 12:34 am
Okay, so today I drop 700 into my bitinstant account and once it hit's mt.gox I've got a total of $667.57 to play with.  I've been noticing that the price of BTC is rapidly rising these last 36 or so hours, so I just went ahead and did a "market order" like I usually do for BTC, which funds my wallet by the time the page refreshes.  However, something kinda fucked up happened-It appears when I chose the 'market order' option, the fuckers charged me $11.09 per BTC!  When I purchased earlier, it was approx. $10.30 "Weighted Avg".  I was under the impression that whatever the "weighted avg." price was was the actual cost of the 'market order' BTC?

So after doing the math, with the BTC still in my wallet due to the problems people have faced today with funding their accounts, I have $642.xx in my account

(I calculated the above # by multiplying the amount of BTC by the "weighted avg" on mt.gox, which, as of this writing, is only fractions of a cent away from what BTC is worth on SR.)


Can someone who is more experienced with this currency please tell me how in the living hell did this happen?  Further, it would be wonderful to know how I can avoid paying more than btc is worth by placing a 'market order'.  Any help is much appreciated, thank you!
Title: Re: "Market Order" of Mt.gox just gave me a ride today...
Post by: oscarzululondon on August 04, 2012, 12:45 am
This is how Bitcoins, and any other currency work. Nothing weird at all.

Mt. Gox is great, much better than Intersango. Enjoy getting the cash into your bank account in less than 12 hours, assuming it's not a weekend.

Did you do all the verification etc?