Silk Road forums
Discussion => Off topic => Topic started by: MarcelKetman on August 09, 2013, 12:58 pm
-
Given the difficulties in both depositing and withdrawing funds from MTGox, I have begun to question it's prominent roll in determining the SR exchange rate. Before approaching DPR however, I'd like to see some hard data on what people in the community are doing. Please request another option if you use none of the above.
-
In fact maybe one of the moderators will see fit for this to be moved to the SR Discussion section.
-
Bumping this again.
-
Thank god! Finally someone said something. It's stupid to list an item for $70 when in reality it means $60. You can say just raise the price to make up the difference but then it looks like us vendors are charging a lot. I wish the price would reflect the reality of the situation and not use a completely irrelevant exchange such as MtGox for pricing. Perhaps there are technical reasons why our prices are pegged to MtGox but if it can be done I think it would be much more fair to peg to BitStamp.
Lets take an example. If I charge $1,000 for an ounce of MDA I'm paying a %4 hedging fee, like %5 in commissions, a %2 mixing fee, %1 fee in transaction costs sending it to wallets, a %6 cashout fee, and I also lose %10 for it being listed in MtGox price when BitStamp is the true value of a BTC. So all in all thats freakin %28!!!!!! Then my free shipping costs $10. So in the end out of a $1,000 ounce I see $700 and that does not even start to take into account my costs. This internet thing is great for everyone's safety but people need to know they are paying a %30 premium for it and I think SR should be honest about it at least by pegging the BTC to a relevant exchange. The alternative is to raise prices and look greedier than we really are.
EDIT: I guess SR did address this issue a few days ago and I did not notice it. Now instead of MtGox they peg it to a variety of weighted exchanges. I think this is great.
-
EDIT: I guess SR did address this issue a few days ago and I did not notice it. Now instead of MtGox they peg it to a variety of weighted exchanges. I think this is great.
This was apparently done but it reflects the MtGox price as far as I can see still mate.
-
Bumping this again. The price difference is a joke now.