Silk Road forums

Market => Rumor mill => Topic started by: Metro2033 on June 24, 2012, 06:16 pm

Title: Vendors adjusting prices to reflect recent spike in BTC value?
Post by: Metro2033 on June 24, 2012, 06:16 pm
How come vendors seem to be keeping all their prices the same regardless of the fact that BTC has spiked in value recently?
Title: Re: Vendors adjusting prices to reflect recent spike in BTC value?
Post by: adam420 on June 24, 2012, 06:39 pm
well i see a price difference between ppl ordering this week and ppl that ordered two weeks ago. now the price for the same product was less btc then two weeks ago.

Title: Re: Vendors adjusting prices to reflect recent spike in BTC value?
Post by: BonesJones42 on June 24, 2012, 06:46 pm
I'm just speaking out of my ass, but I think vendors can set their prices in dollars as opposed to BTC; so despite the recent change (increase) in bitcoin value, their products will still cost the same. But then again, I'm not a vendor...
Title: Re: Vendors adjusting prices to reflect recent spike in BTC value?
Post by: adam420 on June 24, 2012, 06:52 pm
yes thats right . i've setting them to USD so the price is fair for the ppl that do business
Title: Re: Vendors adjusting prices to reflect recent spike in BTC value?
Post by: RxKing on June 24, 2012, 07:40 pm
.I am speaking for 99% of vendors. We  peg our BTC to the US dollar. So it makes no difference what the current exchange rate of the BTC is.

Lets say my pill is $5.00 and the BTC value is $5.00.... then you pay 1 BTC. If the BTC go's up to...let's say $20.00 per BTC.... then you will pay .25 BTC.

So you can see the "value" of the BTC does not matter. I have got lot's of questions about prices of pills since the BTC is now over $6.00. It seems people are confused and don't realize that 99% of us have a set price in US dollars so you will still pay the same dollar amount regardless of the current exchange rate of the BTC.

Now there might be a few vendors that didn't click the option to have their items pegged to the US dollar. If that is the case their item is  5 BTC regardless of the current exchange rate. I would suggest sending the vendor a message BEFORE you purchase and asking them about their current prices.



RxKing
Title: Re: Vendors adjusting prices to reflect recent spike in BTC value?
Post by: Metro2033 on June 24, 2012, 07:50 pm
Thanks for the useful replies  ;D

I was more referring to some sellers who seem to keep their prices the same, and for example Swazibuds who says 10z == £88 but at the moment the actual cost is over £100  :-\
Title: Re: Vendors adjusting prices to reflect recent spike in BTC value?
Post by: opi on June 25, 2012, 01:03 am
that means they did not peg their prices to USD, as oppyate said above vendors have the option to peg prices in USD rather in BTC to account for fluctuation 
Title: Re: Vendors adjusting prices to reflect recent spike in BTC value?
Post by: Metro2033 on June 26, 2012, 05:45 pm
Swazibudd just informed me that the SR inflated their prices and as a result they are gonna be lowering their prices down soon  ;D
This was because at the moment 1oz is about £96 yet they wish to sell it for £88 so they are gonna readjust their prices to balance it.