Silk Road forums
Discussion => Silk Road discussion => Topic started by: fakeleslieknowles on July 03, 2013, 04:28 pm
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hi,
seeing as to how much the BTC value fell over the last 12hours, i've become a bit hesitant to put my money into my SR account.
Say the exchange rate is now 84USD/BTC, if I put 1BTC(84) in and then the rate goes up to 97USD/BTC, will my current account balance go up to 97USD following BTC or it will use the 84USD and adjust the BTC accordingly?
either way, i will be making a loss right?
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If you have already bought the btc and they are in your wallet or sr acct before the rate goes up, then you will just have the same amount of btc but it will be worth more money. If the rate goes up before you buy them, then you will be buying them at that higher rate. Either way, if you buy whatever you need right after you buy the btc then you will not lose or gain any money.
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hi,
seeing as to how much the BTC value fell over the last 12hours, i've become a bit hesitant to put my money into my SR account.
Say the exchange rate is now 84USD/BTC, if I put 1BTC(84) in and then the rate goes up to 97USD/BTC, will my current account balance go up to 97USD following BTC or it will use the 84USD and adjust the BTC accordingly?
either way, i will be making a loss right?
The value stored on the site is in BTC. So if you put 1 BTC (84) when the rate goes up to 97, your balance will be 1BTC = 97 USD (and it it goes down to 60 your balance will be 1 BTC = 60).
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If you have already bought the btc and they are in your wallet or sr acct before the rate goes up, then you will just have the same amount of btc but it will be worth more money. If the rate goes up before you buy them, then you will be buying them at that higher rate. Either way, if you buy whatever you need right after you buy the btc then you will not lose or gain any money.
yea i made the mistake you mentionned in the last line. oh well, trading fun.
The value stored on the site is in BTC. So if you put 1 BTC (84) when the rate goes up to 97, your balance will be 1BTC = 97 USD (and it it goes down to 60 your balance will be 1 BTC = 60).
what i needed to know, thanks!
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if your looking to purchase something on SR Immediately, I would say go for it.
If not then it can wait its hard to predict when the price will go up or down. its ur call
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You are more likely to lose money on a drop than gain on a rise.
I can say I've never gained 1000's before from BTC going up but you can bet you ass I lose $1000's all the time
Like last night for example... and 3 weeks before that when it was 128 then dropped to 105 within like 7 days...