Silk Road forums

Discussion => Newbie discussion => Topic started by: smellywelly on March 21, 2013, 08:24 pm

Title: Bitcoin price seems to be really hiking at the moment.
Post by: smellywelly on March 21, 2013, 08:24 pm
First, let me say, I've only been aware of bitcoins for approximately 4 days. However, in those 4 days I've witnessed a tenfold increase against the Euro. From €46 per BTC to now over €56 per BTC.

As a new member I am obviously curious as to whether the price fluctuates regularly on SR in line with the current market?

BTC is in a really steep incline so I'd imagine if you purchased something this week for 3 BTC and that was equivalent to €150, next week the same price of 3 BTC might cost you €200.

Similarly it could cost less and the sellers would need to increase the BTC price - however, there does not appear to be a decline in the BTC whatsoever. It is in constant and very steep incline.
Title: Re: Bitcoin price seems to be really hiking at the moment.
Post by: smellywelly on March 21, 2013, 08:32 pm
I found an answer to my question in another thread.

On the face of it, we see BTC as our currency - or our price if you will. The vendors actually specify their price in USD however, and the BTC price that we see fluctuates with the market.

Therefore, the price is always the same. Now I feel like I'm getting somewhere :)

Title: Re: Bitcoin price seems to be really hiking at the moment.
Post by: brainfreeze on March 21, 2013, 08:38 pm
No thats not how it works as bitcoins rise then the amount we ask for our stuff falls so if something cost you £150 today and BTC keeps going up and you want said thing again it will still be £150
Hope this helps my page if you watch it you will see the btc asking prices go up and down         http://silkroadvb5piz3r.onion/silkroad/user/0319a1315a
Title: Re: Bitcoin price seems to be really hiking at the moment.
Post by: givememdma on March 21, 2013, 08:39 pm
Very nice. Just wish the banks were faster doing transfers.
Title: Re: Bitcoin price seems to be really hiking at the moment.
Post by: smellywelly on March 21, 2013, 08:43 pm
No thats not how it works as bitcoins rise then the amount we ask for our stuff falls so if something cost you £150 today and BTC keeps going up and you want said thing again it will still be £150
Hope this helps my page if you watch it you will see the btc asking prices go up and down         http://silkroadvb5piz3r.onion/silkroad/user/0319a1315a

Cheers brainfreeze, it's a lot to wrap your head around in the beginning. I however, like to get high on quality gear, so I WILL learn :) I'll check your stuff to see what you do but I've got my eyes on some pretty blotters at the moment :L