Silk Road forums
Discussion => Silk Road discussion => Topic started by: Gengar17 on April 13, 2013, 03:20 am
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Personally, I am just content that I can deposit a certain amount of local currency and receive a certain amount of illegal drugs to my home address. Is it too much to ask that we all just calm down about the BTC market? As long as the Silk Road exists, the BTC will never lose its practical value.
Stop acting like weather forecasters or fortune tellers and trying to predict the future of BTC. Be content with the good that was, the good that is, and the good to come.
I purchased Bitcoins to buy illegals. I've gained a lot of money with the rise in BTC market value. I've lost a lot of money with the fall in BTC market value. Again I say, I purchased Bitcoins to buy illegals. Let's not forget DPR and staffs' vision for this beautiful creature we are a part of. We've been through worse, and we'll be through worse yet before this ship sinks! I don't see sense in complaining, only enjoying the ride.
Peace and love,
Gengar
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It's open discussion in a forum about drugs. Let it out.
I agree. Everyone is a ring like dignified stock brokers all of a sudden. Like this isn't about getting high on drugs or something.
We are united by our drug use.
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I agree. We aren't trading FX here...
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I've been watching the whole debacle with a great deal of interest and amazement in the people freaking out about this. I, on the other hand, am a bit more comfortable with it this way. I mean 1 unit of digital drug buying currency went from $80 or so to $280 in about a month, that's insane. Of course it was going to fluctuate back. While it was amusing watching $10 turn to $40 back down to $10 again, ultimately I still just used it to buy weed. As I will continue to do.
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Thank god some sensible people.
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Know what's really funny ?
I got an order in with a vendor who only checks messages on Monday and ships on Tuesday. He missed this whole crash thing with my order. Hes been offline all week. He comes back online soon and like nothing even happened. Price will be back to normal on Monday. It's only the day to day panic that gets people. If they just waited a few days , it will be back up like nothing happened. Sit back and roll one up and wait it out.
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It's open discussion in a forum about drugs. Let it out.
I agree. Everyone is a ring like dignified stock brokers all of a sudden. Like this isn't about getting high on drugs or something.
We are united by our drug use.
We are drug brokers. 8)
It's always been a little crazy....
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Haha, thanks for the responses guys. We're a crazy family, but still a family. +1 to all of you. Thanks for not losing sight of why most of us are here in the first place, to get a little high! ;)
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The people I feel for the most in this little episode are the middle-men type vendors, who buy from the street on lay-on and then resell on the Road. Hoping they wouldn't do this unless desperate, and desperation is a driving force indeed.
Remembering a time a few years back when a very good friend took a £3k loan of weed to sell, moved it all, used the cash to bank roll a grow that didn't go too well and then had people on his door step threatening the family.
The thing I love about SR is that we get to choose to avoid all that if we wish.
If you have to work as I mentioned in my opening statement, remember to hedge all the way. With a currency as volatile as BTC, you have to de-risk it as much as possible, and that becomes even more true when you open yourself up to the risks involved with dealing with IRL shady people and SR at the same time.
On the other hand, if you are a producer of some sort in for the longer haul, this latest price action is just another landmark on the journey.
Much love to all in trouble and to all sticking it out.
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If anything else, this is another life lesson. Bad luck is inevitable. What really matters is how we respond to stressful situations... Don't let things get unbearable. Make a forum post if you don't have anyone to talk to, but write the post... don't post it... reread it, and make sure your stress isn't distracting you from the Road's playbook. Anonymity.
Good luck.
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Personally, I am just content that I can deposit a certain amount of local currency and receive a certain amount of illegal drugs to my home address. Is it too much to ask that we all just calm down about the BTC market? As long as the Silk Road exists, the BTC will never lose its practical value.
Stop acting like weather forecasters or fortune tellers and trying to predict the future of BTC. Be content with the good that was, the good that is, and the good to come.
Personally, I am just content that I can deposit a certain amount of local currency and receive a certain amount of illegal drugs to my home address. Is it too much to ask that we all just calm down about the BTC market? As long as the Silk Road exists, the BTC will never lose its practical value.
Stop acting like weather forecasters or fortune tellers and trying to predict the future of BTC. Be content with the good that was, the good that is, and the good to come.
I purchased Bitcoins to buy illegals. I've gained a lot of money with the rise in BTC market value. I've lost a lot of money with the fall in BTC market value. Again I say, I purchased Bitcoins to buy illegals. Let's not forget DPR and staffs' vision for this beautiful creature we are a part of. We've been through worse, and we'll be through worse yet before this ship sinks! I don't see sense in complaining, only enjoying the ride.
Peace and love,
Gengar
you say As long as the Silk Road exists, the BTC will never lose its practical value.
Do you realize what a very very small part SR is in using bitcoins.
At the moment there is about 680 million btc's
Not much more will soon be there but....the decimals are already 8 or 9 now.
In principal, theoretical , in time 1 btc could be 1 millon dollar worth.
The whole world is using btc already, it is a normal currency -at least getting there very fast-
Last week you could buy a house for 5000 btc, of course that 5000 was before the crash ???
So yes, SR is using btc, but for sure is not the reason the btc is here......
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Personally, I am just content that I can deposit a certain amount of local currency and receive a certain amount of illegal drugs to my home address. Is it too much to ask that we all just calm down about the BTC market? As long as the Silk Road exists, the BTC will never lose its practical value.
Stop acting like weather forecasters or fortune tellers and trying to predict the future of BTC. Be content with the good that was, the good that is, and the good to come.
I purchased Bitcoins to buy illegals. I've gained a lot of money with the rise in BTC market value. I've lost a lot of money with the fall in BTC market value. Again I say, I purchased Bitcoins to buy illegals. Let's not forget DPR and staffs' vision for this beautiful creature we are a part of. We've been through worse, and we'll be through worse yet before this ship sinks! I don't see sense in complaining, only enjoying the ride.
Peace and love,
Gengar
I have been all stressed out over the market....and you know what... i didnt even stop to think about this, thanks for reminding us all how lucky we really are!
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Personally, I am just content that I can deposit a certain amount of local currency and receive a certain amount of illegal drugs to my home address. Is it too much to ask that we all just calm down about the BTC market? As long as the Silk Road exists, the BTC will never lose its practical value.
Stop acting like weather forecasters or fortune tellers and trying to predict the future of BTC. Be content with the good that was, the good that is, and the good to come.
I purchased Bitcoins to buy illegals. I've gained a lot of money with the rise in BTC market value. I've lost a lot of money with the fall in BTC market value. Again I say, I purchased Bitcoins to buy illegals. Let's not forget DPR and staffs' vision for this beautiful creature we are a part of. We've been through worse, and we'll be through worse yet before this ship sinks! I don't see sense in complaining, only enjoying the ride.
Peace and love,
Gengar
Perfect sentiment. Thank you, sir (or madam).
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Typical in over your head sky is falling....suddenly wet.
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For someone like me who re-sells stuff from SR to my local buyers this crash cost me some $ but I re-sell MDMA on the street with a solid 300-500% profit margin... can't really complain that much. If you are mostly here for drugs then just buy you stuff quickly after you obtain your BitCoins and your risk from BTC fluctuations will be minimized.
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Well yeah you will minimize your risks, but the vendor will lose a bunch in the current market because the buying price of btc is way lower than the weighted average. Because of this, I have been trying to contact some vendors to get a shipment in before 4/20 and no response..
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Now, I'm no economist, but assuming the only thing hindering the value of BTC is the recent market crash which has deterred investors, should the value not increase in the future if people regain their confidence? I mean, Mt.Gox made a public statement saying that the crash was a result of too many new accounts being made, and they have since updated their servers accommodate; so it's not like the whole system has been compromised. As long as BTC continues to be a useable online currency I think it's value will pick up again within the next few weeks / months. Plus, the quick fluctuation and potential huge profits to be made in the BTC market make it attractive to the more adventurous investor. Once this little hiccup has blown over I think we'll be back to the days of 1 BTC being worth $200+; that's just my opinion but it leads on to my next question.
Do others agree that BTC will regain at least some of its previous value? I know some people have stated that they've sold all their BTC and are "out of the game", yet the spot price of gold today is the lowest it's been for over 2 years, and you don't see people quitting the gold trade because of this. Now I know the gold market is very different to BTC, but I thought I'd just make the comparison. I'm considering buying 10BTC at the price they are now (Mt. Gox Last Price = $52), and then if the value does increase I could potentially make 200% profit, assuming they reach $150 again. It's a risky idea considering I'm sitting here literally watching the BTC weighted average decrease by the second, so I'm really unsure as to whether my predictions are likely or not.
Anyone with a more comprehensive understanding of BTC or general economic markets care to chime-in with their opinions?
Thanks,
- JH
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You can't even begin to compare gold to Bitcoins. If someone offered you 10million in Bitcoins or 10million in gold bullion, which would you take?
.... EXACTLY!
- JWM 8)
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JWM, I think you misunderstood; I wasn't directly comparing the two over value. I was stating how the values of both commodities fluctuate considerably, yet that this doesn't deter investors in the gold trade. I was using this comparison to illustrate the fact that a temporary, albeit significant, drop in a commodity's value doesn't necessarily make it worthless for future investment. Using this model, one could come to the conclusion that the value of BTC will probably increase again in times to come. My question is for people more knowledgeable than I, as to whether they also think BTC will steadily increase in value again as it has done previously?
- JH
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You can't even begin to compare gold to Bitcoins. If someone offered you 10million in Bitcoins or 10million in gold bullion, which would you take?
.... EXACTLY!
- JWM 8)
I would take 10 million BTC, because I don't need guns, lawyers, and violence to protect it.
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Now, I'm no economist, but assuming the only thing hindering the value of BTC is the recent market crash which has deterred investors, should the value not increase in the future if people regain their confidence? I mean, Mt.Gox made a public statement saying that the crash was a result of too many new accounts being made, and they have since updated their servers accommodate; so it's not like the whole system has been compromised. As long as BTC continues to be a useable online currency I think it's value will pick up again within the next few weeks / months. Plus, the quick fluctuation and potential huge profits to be made in the BTC market make it attractive to the more adventurous investor. Once this little hiccup has blown over I think we'll be back to the days of 1 BTC being worth $200+; that's just my opinion but it leads on to my next question.
Do others agree that BTC will regain at least some of its previous value? I know some people have stated that they've sold all their BTC and are "out of the game", yet the spot price of gold today is the lowest it's been for over 2 years, and you don't see people quitting the gold trade because of this. Now I know the gold market is very different to BTC, but I thought I'd just make the comparison. I'm considering buying 10BTC at the price they are now (Mt. Gox Last Price = $52), and then if the value does increase I could potentially make 200% profit, assuming they reach $150 again. It's a risky idea considering I'm sitting here literally watching the BTC weighted average decrease by the second, so I'm really unsure as to whether my predictions are likely or not.
Anyone with a more comprehensive understanding of BTC or general economic markets care to chime-in with their opinions?
Thanks,
- JH
Gold is comparable to BTC in every way. Both are commodities and a store of wealth. Your assessment is pretty much spot on. So much so that you have people spreading fear so the price drops even further. Then when they feel it's hit its lowest, they will buy big, sit back and just wait on the price increasing. I think it'll go as low as $20.
Don't forgot with all this recent media attention alot of people will now be researching BTC. It will be a while before they get their feet wet and purchase BTC but when they do you can expect the price to soar again. We haven't even begun.
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Now, I'm no economist, but assuming the only thing hindering the value of BTC is the recent market crash which has deterred investors, should the value not increase in the future if people regain their confidence? I mean, Mt.Gox made a public statement saying that the crash was a result of too many new accounts being made, and they have since updated their servers accommodate; so it's not like the whole system has been compromised. As long as BTC continues to be a useable online currency I think it's value will pick up again within the next few weeks / months. Plus, the quick fluctuation and potential huge profits to be made in the BTC market make it attractive to the more adventurous investor. Once this little hiccup has blown over I think we'll be back to the days of 1 BTC being worth $200+; that's just my opinion but it leads on to my next question.
Do others agree that BTC will regain at least some of its previous value? I know some people have stated that they've sold all their BTC and are "out of the game", yet the spot price of gold today is the lowest it's been for over 2 years, and you don't see people quitting the gold trade because of this. Now I know the gold market is very different to BTC, but I thought I'd just make the comparison. I'm considering buying 10BTC at the price they are now (Mt. Gox Last Price = $52), and then if the value does increase I could potentially make 200% profit, assuming they reach $150 again. It's a risky idea considering I'm sitting here literally watching the BTC weighted average decrease by the second, so I'm really unsure as to whether my predictions are likely or not.
Anyone with a more comprehensive understanding of BTC or general economic markets care to chime-in with their opinions?
Thanks,
- JH
Gold is comparable to BTC in every way. Both are commodities and a store of wealth. Your assessment is pretty much spot on. So much so that you have people spreading fear so the price drops even further. Then when they feel it's hit its lowest, they will buy big, sit back and just wait on the price increasing. I think it'll go as low as $20.
Don't forgot with all this recent media attention alot of people will now be researching BTC. It will be a while before they get their feet wet and purchase BTC but when they do you can expect the price to soar again. We haven't even begun.
Great, thanks for your help. I guess I'll wait a little and see how the BTC value changes, at least for the next couple of weeks. If the value starts to spike again I'll be on a buying spree before they hit $90+ :)
- JH
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The problem in my case is that I have at least a 1 day waiting time from paying for coins to receiving them, nothing me or the seller can do about it, and if in that time the value of coins dropped I would be fucked basically. That's why I decided to not buy coins today, seeing as the value is fluctuating a lot right now and I could end up with less than I paid for tomorrow, thus not having enough coin to make the purchase I was planning to do. Seeing as I'm out of work untill after the summer this can be quite a large issue for me.
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bitcoin just hit 98, probably 100 again today
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Proof of the problem with btc in my case, it's fluctuating like crazy and I have no guarantee that the value I pay for coins is the value I get in coins at the time I receive them. It's too risky when I'm not even looking to invest but just use it as a medium for payment.
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Bitcoin will kill itself at this rate since no respectable business will want anything to do with it if it keeps this up. Businesses need stability in currency which was what Bitcoin was supposed to be but instead it's gone stupid through mass market manipulation through constant trading etc from people looking to make a quick buck off gambling on the market pump and dumps.
At the moment any business that tries to implement this so called currency is essentially becoming speculators themselves and the last thing businesses want to do is gamble with their hard earned money when stability is they key to long term business growth.
I think eventually Bitcoin will take it's rightful place among the many different crypto's that are emerging and will settle down and if it doesn't businesses will just adopt something more stable such as Litecoin to conduct their business if they aren't outlawed completely very soon, which I predict may happen as they directly violate every law in the book from tax evasion and gambling to our beloved Silk Road's method of transactions.
Only time will tell but anyone looking to invest in Bitcoin at $100 would do far better right now to buy silver and as much as humanly possible since you are getting something essentially for nothing as it is cheaper now than it costs to mine and will be the first of all the elements to go extinct sometime between 2020 and 2025.
Bitcoin = Shitcoin
Silver for the win!
- JWM 8)
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Personally, I am just content that I can deposit a certain amount of local currency and receive a certain amount of illegal drugs to my home address. Is it too much to ask that we all just calm down about the BTC market? As long as the Silk Road exists, the BTC will never lose its practical value.
Stop acting like weather forecasters or fortune tellers and trying to predict the future of BTC. Be content with the good that was, the good that is, and the good to come.
I purchased Bitcoins to buy illegals. I've gained a lot of money with the rise in BTC market value. I've lost a lot of money with the fall in BTC market value. Again I say, I purchased Bitcoins to buy illegals. Let's not forget DPR and staffs' vision for this beautiful creature we are a part of. We've been through worse, and we'll be through worse yet before this ship sinks! I don't see sense in complaining, only enjoying the ride.
Peace and love,
Gengar
Perfect sentiment. Thank you, sir (or madam).
Sir, and thank you! Seems like everyone is calming down about it or leaving, both of which help stabilize the market.
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It's amazing how quickly the comments in any bitcoin thread are obsolete.
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Keep your feelings to yourself and no one will get hurt.
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Bitcoin will kill itself at this rate since no respectable business will want anything to do with it if it keeps this up. Businesses need stability in currency which was what Bitcoin was supposed to be but instead it's gone stupid through mass market manipulation through constant trading etc from people looking to make a quick buck off gambling on the market pump and dumps.
At the moment any business that tries to implement this so called currency is essentially becoming speculators themselves and the last thing businesses want to do is gamble with their hard earned money when stability is they key to long term business growth.
I think eventually Bitcoin will take it's rightful place among the many different crypto's that are emerging and will settle down and if it doesn't businesses will just adopt something more stable such as Litecoin to conduct their business if they aren't outlawed completely very soon, which I predict may happen as they directly violate every law in the book from tax evasion and gambling to our beloved Silk Road's method of transactions.
Only time will tell but anyone looking to invest in Bitcoin at $100 would do far better right now to buy silver and as much as humanly possible since you are getting something essentially for nothing as it is cheaper now than it costs to mine and will be the first of all the elements to go extinct sometime between 2020 and 2025.
Bitcoin = Shitcoin
Silver for the win!
- JWM 8)
silver is loosing its value for the last 2.5 years ....real smart investment if you want to loose money.
Do you read the reports on silver and gold?
Gold is slightly going up since a long time.....after loosing its value too.
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Bitcoin will kill itself at this rate since no respectable business will want anything to do with it if it keeps this up. Businesses need stability in currency which was what Bitcoin was supposed to be but instead it's gone stupid through mass market manipulation through constant trading etc from people looking to make a quick buck off gambling on the market pump and dumps.
At the moment any business that tries to implement this so called currency is essentially becoming speculators themselves and the last thing businesses want to do is gamble with their hard earned money when stability is they key to long term business growth.
I think eventually Bitcoin will take it's rightful place among the many different crypto's that are emerging and will settle down and if it doesn't businesses will just adopt something more stable such as Litecoin to conduct their business if they aren't outlawed completely very soon, which I predict may happen as they directly violate every law in the book from tax evasion and gambling to our beloved Silk Road's method of transactions.
Only time will tell but anyone looking to invest in Bitcoin at $100 would do far better right now to buy silver and as much as humanly possible since you are getting something essentially for nothing as it is cheaper now than it costs to mine and will be the first of all the elements to go extinct sometime between 2020 and 2025.
Bitcoin = Shitcoin
Silver for the win!
- JWM 8)
silver is loosing its value for the last 2.5 years ....real smart investment if you want to loose money.
Do you read the reports on silver and gold?
Gold is slightly going up since a long time.....after loosing its value too.
Do your research, this comment sounds like it's written by a 15yr old who knows nothing about commodities. For the first time since ancient Egypt, there is more silver available above ground than gold, and any smart investor knows that it will only be a matter of time before silver becomes extinct sending it's value into incredible heights. Silver has over 10,000 uses, and the Mexican word for money IS silver. JP Morgan an Co., have manipulated the market value to keep the people of the world from seeing silver as real money and instead shit like paper AKA "legal tender" and other things like Shitcoins to be seen as real money as opposed to gold and silver. Bitcoins are just one of many different crypto's and far from the best, Litecoin actually shits all over it it terms of efficiency, technology and speed, and even PPC is a better concept. At the end of the day, when push comes to shove, people will ALWAYS see precious metals as money, not so for bits and bytes. As for the person who claims they would prefer 10million in Shitcoin, again, you sound like a teenager without any grasp for somethings true worth or the present state of the global economy. RIGHT NOW, the US has 59 times as much ADMITTED debt than it has in gold reserves, that's admitted, if you take into account the true worth of quantitative easing combined with other worthless bonds held by China etc, the debt is somewhere closer to 90trillion. Now you tell me, are we in a gold bubble? Then factor into the equation that silver should be actually valued at 1/1 against gold, and you see that clearly it's the best investment going. Anyone with any brains would be taking advantage of both the gold and silver prices now because when the economic collapse comes you will see gold at 10K per ounce and silver back at at least 10/1 against gold meaning it will be around 1000 per ounce MINIMUM, at present you can buy a kilo or more for that. So you tell me, with this information, which is the more safe investment, and when silver and gold are required in everything from jewelery to computers, and silver is being mined at half the rate it's being used, clearly they will be worth more than a crypto currency that will be replaced by superior tech as time goes on and fade into memory, but gold and silver have been money since the dawn of time and always will be. If you need guns to guard your bullion you're not smart enough to hide it properly first up, and second, most people have guns to defend their family and household, why then wouldn't you apply the same security to your families wealth. Unlike your computer where it takes just one smart cookie to come in and steal your entire system contents without even stepping foot in your home or even giving you a chance to defend it. In ten years time gold and silver will be worth more than you can imagine, your precious Shitcoins will be worth no more than the rings collected while playing Sonic the Hedgehog!
- JWM
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"That means that you should get into the Bitcoin system now. Early. You should be an early adopter. Because your Bitcoins are going to be worth a lot of money one day." - Julian Assange
[http://wikileaks.org/Transcript-Meeting-Assange-Schmidt]
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"That means that you should get into the Bitcoin system now. Early. You should be an early adopter. Because your Bitcoins are going to be worth a lot of money one day." - Julian Assange
[http://wikileaks.org/Transcript-Meeting-Assange-Schmidt]
exactly!
gold is now going up a little after a long time. Glad I don't have that anymore.
Silver is a investing problem for years now
There may be so much silver above ground....so? The price is dropping, at an all time low since long time.... read the info from the banks etc.
I am sure bitcoins are going to be worth a lot. You think that I am a adolescent ...on the contrary LOL
AAhh...I know, it is that my ''American'' English is not to good ?
Not so strange being from Europe and speak 4 languages ....and you !???? :-p
I know damn well what i am doing and I am doing it for a long long time, could be I am in the -money- business longer than you are of age JezuzWazaMushroom LOL.
Now, like is said, I take the million in coins, can carry it everywhere just on an USB stick, nobody ever know I have it, need nothing to protect it with (dog looks at me with sad eyes LOL)
The ''problems'' institutions have with it makes me happy...they are worried, not stupid....worried.
A lot of people already invested, a few talked about it like the winkler somewhat ''facebook'' twins ? They have 1% of all coins I think.
Like it was mentioned before....those are the stupid people --sarcasm off
You all can do and think what you want....
I keep selling the items people love to buy from me and I keep my coins in my wallet....for a long time I guess.
Have fun, buy silver JezuzWazaMushroom and be happy ::)
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Bitcoin will kill itself at this rate since no respectable business will want anything to do with it if it keeps this up. Businesses need stability in currency which was what Bitcoin was supposed to be but instead it's gone stupid through mass market manipulation through constant trading etc from people looking to make a quick buck off gambling on the market pump and dumps.
At the moment any business that tries to implement this so called currency is essentially becoming speculators themselves and the last thing businesses want to do is gamble with their hard earned money when stability is they key to long term business growth.
I think eventually Bitcoin will take it's rightful place among the many different crypto's that are emerging and will settle down and if it doesn't businesses will just adopt something more stable such as Litecoin to conduct their business if they aren't outlawed completely very soon, which I predict may happen as they directly violate every law in the book from tax evasion and gambling to our beloved Silk Road's method of transactions.
Only time will tell but anyone looking to invest in Bitcoin at $100 would do far better right now to buy silver and as much as humanly possible since you are getting something essentially for nothing as it is cheaper now than it costs to mine and will be the first of all the elements to go extinct sometime between 2020 and 2025.
Bitcoin = Shitcoin
Silver for the win!
- JWM 8)
silver is loosing its value for the last 2.5 years ....real smart investment if you want to loose money.
Do you read the reports on silver and gold?
Gold is slightly going up since a long time.....after loosing its value too.
Do your research, this comment sounds like it's written by a 15yr old who knows nothing about commodities. For the first time since ancient Egypt, there is more silver available above ground than gold, and any smart investor knows that it will only be a matter of time before silver becomes extinct sending it's value into incredible heights. Silver has over 10,000 uses, and the Mexican word for money IS silver. JP Morgan an Co., have manipulated the market value to keep the people of the world from seeing silver as real money and instead shit like paper AKA "legal tender" and other things like Shitcoins to be seen as real money as opposed to gold and silver. Bitcoins are just one of many different crypto's and far from the best, Litecoin actually shits all over it it terms of efficiency, technology and speed, and even PPC is a better concept. At the end of the day, when push comes to shove, people will ALWAYS see precious metals as money, not so for bits and bytes. As for the person who claims they would prefer 10million in Shitcoin, again, you sound like a teenager without any grasp for somethings true worth or the present state of the global economy. RIGHT NOW, the US has 59 times as much ADMITTED debt than it has in gold reserves, that's admitted, if you take into account the true worth of quantitative easing combined with other worthless bonds held by China etc, the debt is somewhere closer to 90trillion. Now you tell me, are we in a gold bubble? Then factor into the equation that silver should be actually valued at 1/1 against gold, and you see that clearly it's the best investment going. Anyone with any brains would be taking advantage of both the gold and silver prices now because when the economic collapse comes you will see gold at 10K per ounce and silver back at at least 10/1 against gold meaning it will be around 1000 per ounce MINIMUM, at present you can buy a kilo or more for that. So you tell me, with this information, which is the more safe investment, and when silver and gold are required in everything from jewelery to computers, and silver is being mined at half the rate it's being used, clearly they will be worth more than a crypto currency that will be replaced by superior tech as time goes on and fade into memory, but gold and silver have been money since the dawn of time and always will be. If you need guns to guard your bullion you're not smart enough to hide it properly first up, and second, most people have guns to defend their family and household, why then wouldn't you apply the same security to your families wealth. Unlike your computer where it takes just one smart cookie to come in and steal your entire system contents without even stepping foot in your home or even giving you a chance to defend it. In ten years time gold and silver will be worth more than you can imagine, your precious Shitcoins will be worth no more than the rings collected while playing Sonic the Hedgehog!
- JWM
by the way...there is so much more paper money than there is gold to back it up.
You do not seem to understand the emotion of people who are loosing what the saved for their entire life.
Look at the crisis' in US, Europe, recent Greece and now Cyprus. Billions are washed away, down the drain in to the big black hole the governments created.
People do not want to have money in the banks anymore....to dangerous as was very fucking clear in the last crisis in Cyprus where people lost all their savings above 100.000 euro.
Lot of Russians are very pissed as they had gigantic amounts there.
I think you see the economy a little to easy...they need silver, Mexicans call monye silver....so?
After the big Cyprus bank bang the coins went to the roof because so many ''stupid'' people were buying.
Maybe you have no idea but about a year ago the coins were 5 euro/ 7 dollar and now....last price MtGox 126 $
If I bought a year ago 5000 dollar in coins, 715 coins then now it already would be worth almost 100.000 dollar.
Selling at the highest point ($260 or so+) I would have 185.000 dollar
What investment give you such an gigantic profit? Definitely not gold or silver.... not in that percentage.
But, like I said....do what you like, think what you like.
It has no influence on me because I already collected my profits and will keep going doing so with other smart investors
You can say yes but this and that....I earned 100.000 dollar in less than a year
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Gentlemen, I do believe we're just getting started...