Silk Road forums
Discussion => Security => Topic started by: skrillyskrill on August 16, 2013, 12:44 am
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I recently bought BTC from a very reliable vendor and when he sent me the btc, as per mtgox price, it was not as much as what it should have been (3.56btc with at the time was $400, but only $374 made it to my account). i then notice that the value of btc at the bottom of the SR page is consistently lower than mtgox's value. i looked at mt gox and there was no fluctuation that would be responsible for this.
Anyone else having this issue of their coins losing value when loading btc to their SR wallets? despite no fluctuation with mtgox?
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The SR BTC price has never correlated directly with Gox, it's contingent on a variety of factors. Gox value is inflated as of now since they are not processing USD withdrawals, so people are just buying BTC on Gox to withdraw and then cash out on other exchanges as it's the only way to turn their money into cash. Your best bet is to find an exchanger that works using the SR weighted average as opposed to the Gox average.
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You got extra money for months when it was going by MtGox while vendors were losing 20%. Don't feel bad. Don't but at MtGox' artificially inflated price. No one can withdraw funds from MtGox so anyone with funds on there HAS TO buy bitcoins from there if they want to get their funds off of there. That is why the price is higher than every other exchange.
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Gox has serious liquidity issues right now, like the guy above me stated nobody can withdraw anything from them without waiting forever so people are buying bitcoin to get out of that trap.
Mtgox is doomed nobody should be using them. NY lawsuit + Coinlab lawsuit + Bitcoinica problems (still holding stolen funds) + incompetence + who knows that their fucking problem is why they can't release funds.
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awsome info thanks guys. and jack sweet avitar :P