Silk Road forums
Discussion => Security => Topic started by: ThePhoenix on January 22, 2013, 01:06 am
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now at 16.49...was like 12.5 last week.
maybe I should stock up.
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Point me out if I'm wrong, I'm genuinely interested as well, but don't most vendors adjust their prices dependent on how much BTC are valued at?
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Yeah they do. I made a purchase today and noticed vendors prices were lower for they are hedged.
But yeah prices have risen dramatically. :'(
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Point me out if I'm wrong, I'm genuinely interested as well, but don't most vendors adjust their prices dependent on how much BTC are valued at?
Most vendors peg their prices to the US dollar, so the prices of their goods adjust themselves as the bitcoin value fluctuates :)
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Point me out if I'm wrong, I'm genuinely interested as well, but don't most vendors adjust their prices dependent on how much BTC are valued at?
Most vendors peg their prices to the US dollar, so the prices of their goods adjust themselves as the bitcoin value fluctuates :)
Exactly.
Who cares how high it gets? Most vendors set their price hedged to a specific currency, so product prices are not rising (I do with mine at least).
Just means BTC are getting more and more popular, meaning there is less and less the governments can do about it.
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Point me out if I'm wrong, I'm genuinely interested as well, but don't most vendors adjust their prices dependent on how much BTC are valued at?
Most vendors peg their prices to the US dollar, so the prices of their goods adjust themselves as the bitcoin value fluctuates :)
Exactly.
Who cares how high it gets? Most vendors set their price hedged to a specific currency, so product prices are not rising (I do with mine at least).
Just means BTC are getting more and more popular, meaning there is less and less the governments can do about it.
If you buy bitcoins when they are at 12 dollars and you have 44 coins, they rise to 16 you now have 4 more dollars per coin. That is why it matters. When they lower the same applies but the opposite. That is 176 dollars man, That is why the rise in bitcoin price and decline both matter to people. Free money or lost money essentially. Your amount of bitcoins doesn't change, the price of products do however.
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Point me out if I'm wrong, I'm genuinely interested as well, but don't most vendors adjust their prices dependent on how much BTC are valued at?
Most vendors peg their prices to the US dollar, so the prices of their goods adjust themselves as the bitcoin value fluctuates :)
Exactly.
Who cares how high it gets? Most vendors set their price hedged to a specific currency, so product prices are not rising (I do with mine at least).
Just means BTC are getting more and more popular, meaning there is less and less the governments can do about it.
If you buy bitcoins when they are at 12 dollars and you have 44 coins, they rise to 16 you now have 4 more dollars per coin. That is why it matters. When they lower the same applies but the opposite. That is 176 dollars man, That is why the rise in bitcoin price and decline both matter to people. Free money or lost money essentially. Your amount of bitcoins doesn't change, the price of products do however.
A lot of people on here recommend to only buy bitcoin when you want to make a purchase, and then spend it ASAP when you get it onto the website. This rules out any drastic drops in value, so you don't get fucked! Everyone has their own way of doing things I guess :)
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i hate when they rise too much,makes me wish i stocked up when they were cheap could of made a few but aww well remember what goes up must come down.
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It's going up by the hour. :)
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It's going up by the hour. :)
It is the fastest rise in prices I have seen in the whole 9 months that I have been on this website. :) I've gained $30 dollars since yesterday alone on a very small amount of coin :)
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Yeah they're way too valuable for my liking at the moment, I don't like the volatility of bitcoins. If I buy 100 bitcoins now they could lose 40% of their value within a few weeks who knows. Of course I wish I'd stocked up on bitcoins early last year when they were like 1/8th of the price, a buddy of mine did just that and is now reaping the rewards and pretty much getting free drugs, lucky bastard!
edited : I meant to say last year not this year
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The relatively fast price increase is fueling demand to hold bitcoins, because bitcoins holders are speculating that their bitcoin holdings will be worth more tomorrow. If there were a sudden drop, the reverse could happen - bitcoin holders running for the exits.
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Yup. For those saying "well I could have made money if I bought it low", well you still can. Because when it doubles in value and hits $30 tomorrow you'll be saying the same thing.
The bitcoin value is integrally tied to the success of SR. The more traffic and popularity of SR, the higher the value of bitcoins goes. With SR having opened up to a host a new languages recently the sky seems the limit. There are many countries that don't yet appear to have caught onto SR. Perhaps their mail service is too unreliable or open to compromise (Russia) but I see huge growth potential in the emerging economically mobile countries like Brazil and China. And if home grown alternatives spring up in say Portuguese or Mandarin that provides direct competition to SR, well guess what? The bitcoin value skyrockets even more.
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Yup. For those saying "well I could have made money if I bought it low", well you still can. Because when it doubles in value and hits $30 tomorrow you'll be saying the same thing.
Exactly. It's not like the market for bitcoins is exhausted. Probably only about 500,000 people use them. A year from now it could be 2 million, and 3 years from now it could be 5 million.
IF the price went to $30 in the next month then I'd say it's a bubble and you should sell, but I wouldn't be surprised if bitcoins were stable at $30 a year from now. In short, the price is still low and it's a good time to buy. :)
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Has the value of bitcoin ever dropped significantly, or does it just keep rising? Anyone been watching it over the past year or so?
Wondering whether to make a proper investment :)
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Has the value of bitcoin ever dropped significantly, or does it just keep rising? Anyone been watching it over the past year or so?
Wondering whether to make a proper investment :)
I don't know the circumstances, but a couple of years ago, or maybe just a year ago, they were valued at $32 each. Then there was some sort of scam or hack and the value plummeted down to aout $2 or something like that. Sorry that I can't better inform you, but this is a vague picture of what happened :)
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Has the value of bitcoin ever dropped significantly, or does it just keep rising? Anyone been watching it over the past year or so?
There are several web sites that provide charts. Yes, it went through a huge boom and bust in June 2011 after the first round of major media reports about it, when the baseline market was small and tons of people tested out bitcoins and then abandoned them. It went through another small boom and bust in August of last year, probably because of the pirateat40 scare.
All time: https://blockchain.info/charts/market-price?timespan=all
Last year: https://blockchain.info/charts/market-price?timespan=1year
It could be going through another small boom and bust now, we'll see. However, if you follow the 3 year trend, on average it continues to increase, and at a relatively fast rate. As the market grow, it becomes more stable.
Also,
https://blockchain.info/charts
http://bitcoincharts.com
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Has the value of bitcoin ever dropped significantly, or does it just keep rising? Anyone been watching it over the past year or so?
Wondering whether to make a proper investment :)
Yeah my understanding is that a year and a half ago when it hit $32 a lot of early market investors that had stocked up cashed out causing it to drop precipitously. But it stabilized at $5 and was at between $5-$6 as recently as 6-7 months ago.
IMO, it's a fantastic long term investment. Think about it, it's the ONLY legit virtual currency. So it's got a monopoly on the online underworld. Many attempts have been made to take the open source bitcoin code, alter it a bit, and introduce an alternate competing currency. All have failed miserably. It's said that only the ingenious pseudonymous Satoshi Nakamoto, the creator of bitcoin, has the kind of pull and rep to introduce a new currency. But first of all, he disappeared without a trace when the code was pretty much complete 3 years ago. Second of all, why would he? BTC is his baby.
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Here is the way I see it. From a broke perspective.
Say I bought $500 worth or heck even went crazy and got 1k. Now if it doubles in a year that is 2k, def nothing to retire on. What if it triples in a year? okay 3k. That is awesome but still I'm not going to get rich off of it.
So for the normal joe, buy your bitcoins, use them.
If your rich, then sure, buy 100k worth, because then and only around then would it be worth having the money tied up.
My main concern, and I think the same is true for the majority of anyone on this forum, is how it effects SR, and luckily, no matter how high the prices rise, your drug of choice will always say right at, slightly overpriced lol. *Just my 2btc's*
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man i am pissed at myself right now lol.
i had about 50 coins early last week before the massive spike in price.. spent all but 4 of them then they shoot up in price. my luck of course!!!!
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In the 6, 7 months I've been paying attention they've gone from 5 to what, 16 now? I'd say it's a stable investment, or better yet good for a literally quick flip if you can find a way to buy, hold for a week, and sell for a good exchange.
The popular BTC vendors are probably making a fortune. If I'd plunked down $50k on BTC when I first got in to it, I'd have a 200% return on it in under a year. Slightly risky, but only because cashing them out is difficult.