Silk Road forums
Discussion => Silk Road discussion => Topic started by: Snooze on April 15, 2013, 11:52 pm
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They keep falling. Everyday the weight average decreases. I'm out! cashed them in. done. it will be funny if they fell to back to $12 now. the media had a field day bashing bitcoins and i see they to continue to fall. I wouldnt recommend holding on to them. buy them and trade them right away. Lesson learned.
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Bye
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I hear ya....just about there.....what I really do not understand is who is selling them....there only 10 million right now.....who could be selling them pushing the bid down.....
It's almost like they are being shorted.......
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It's almost like they are being shorted.......
Some people are short selling them. Also weak hands are getting out like OP.
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How can they be shorted.....you have to have them to sell them.
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You wanna know what's funny. I purchase some btc right before the crash and got shorted so much I couldn't place my original purchase. So I bought more two days ago and it's fell so much again that I STILL won't have enough to place the order that I want when I get them. I honestly just laughed today and said fuck it. I also agree with you Snooze about the media bashing, I just keep thinking to my self if it weren't for all of the negativity surrounding btc in the media they have actually had a chance to stay above $100 for a bit longer.
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How can they be shorted.....you have to have them to sell them.
www.icbit.se offer shorting and btc/usd futures and oil futures and other shit.
Coinsettler just did a half million dollar deal where you will soon be able to short them on their site too.
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lrn2btc
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As soon as the bitcoin prices started climbing at such a high variance rate, I completed all purchases and converted back into a different currency. I prefer to avoid variance altogether rather than ride the rollercoaster and hope it ends on a high note.
I wish people took the time to study basic concepts of economics.
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The reverse of what happened last week is happening now. The price continues to drop so it's natural for people to hol off buying them untill tomorrow when they'll be cheaper. This results in less buyers and more sellers and around and round we go.
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There in the $60's now. Weighted average time of OP $93 and change. now the weighted average is $83.39 its sinking. think about it, they were only $10 a coin in late October, $12 at Christmas. that's probably the true value for these coins. nobody who doesn't use bitcoins to buy things with will not invest in them. the media mocked it hard since the crash. Very unstable currency now, can't be good for anyone.
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lrn2btc
I have zero btcs but thousands in cash from last week.
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some good comments here. somepup and fractal. now everyone's had a taste of what life is like in an economy that doesn't have a stable currency, ie. Zimbabwe, 1930's Germany, 1980's Argentina. Investing in a currency, even a cryptocurreny, is fraught with risk. Risks that a non financial professional are not equipped to understand or undertake. The masses will just suffer the consequences of volatility. Can't buy food in Zimbabwe, can't buy drugs on SR, same difference. Just like you saw economic refuges leave Germany in the 1930's, you'll see many users AND vendors leave SR. I just hope SR doesn't spawn a Hitler like Germany did.
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(Newser) – The Winklevoss twins of Facebook fame/infamy are leading the charge on another digital frontier: the digital currency known as bitcoin. Their holdings translated to some $11 million in actual money, they say; that is, before values dropped drastically yesterday. But Tyler and Cameron are confident in their investment. "People say it’s a Ponzi scheme, it’s a bubble," says Cameron."At some point that narrative will shift to 'virtual currencies are here to stay.'"
Tyler puts it this way: "We have elected to put our money and faith in a mathematical framework that is free of politics and human error." The Winklevosses' bitcoin portfolio seems to be among the largest out there, the New York Times reports, and they're being very careful with it. They've put the coding behind their holdings on flash drives, which they placed in safe deposit boxes in three cities. But others aren't so sure the currency will hold up. "To say (the investment is) highly speculative would be the understatement of the century," says an expert.
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If I would have cashed out right when I saw it over $250, instead of being greedy and taking a chance I would have made a significant profit instead of losing. I was greedy and said "i'll give it a few more days" then it was down to $70 or something. Oh well. SR, BTC all new to me.
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You, me and everyone else. :)
When the crash started, I saw a trade of 351 BTC @ $239. That person spent $83,000 and now has $21,000.
I guess things could be worse.
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You, me and everyone else. :)
When the crash started, I saw a trade of 351 BTC @ $239. That person spent $83,000 and now has $21,000.
I guess things could be worse.
Thanks, haha. ;D
Things could be worse, shit happens, etc.
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BTC crash or not, drugs ALWAYS turn a profit... get with the program, and quit being a dumbass and acting like a spoiled teenager.
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You, me and everyone else. :)
When the crash started, I saw a trade of 351 BTC @ $239. That person spent $83,000 and now has $21,000.
I guess things could be worse.
and the really funny thing is.....in a few months he has $830.000
Do you always only look at tomorrow?
I am a vendor and no coin that comes in will go out for quite some time....believe me...1 month or 6 it will go up dramatically
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This is nothing other than an attempt to scare people into selling and lower the price further. A bear run it's called.
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You wanna know what's funny. I purchase some btc right before the crash and got shorted so much I couldn't place my original purchase. So I bought more two days ago and it's fell so much again that I STILL won't have enough to place the order that I want when I get them. I honestly just laughed today and said fuck it. I also agree with you Snooze about the media bashing, I just keep thinking to my self if it weren't for all of the negativity surrounding btc in the media they have actually had a chance to stay above $100 for a bit longer.
Those who control the information...
If the people are sheep then TV is their shepherd
Media is just public relations; its all about business.
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You wanna know what's funny. I purchase some btc right before the crash and got shorted so much I couldn't place my original purchase. So I bought more two days ago and it's fell so much again that I STILL won't have enough to place the order that I want when I get them. I honestly just laughed today and said fuck it. I also agree with you Snooze about the media bashing, I just keep thinking to my self if it weren't for all of the negativity surrounding btc in the media they have actually had a chance to stay above $100 for a bit longer.
by negativety do you mean threads like this? This guy wants the price to drop further, most people whowant to invest do. Lose a little now then gain alot later when you buy up at a low before waiting on them topping out again.
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You wanna know what's funny. I purchase some btc right before the crash and got shorted so much I couldn't place my original purchase. So I bought more two days ago and it's fell so much again that I STILL won't have enough to place the order that I want when I get them. I honestly just laughed today and said fuck it. I also agree with you Snooze about the media bashing, I just keep thinking to my self if it weren't for all of the negativity surrounding btc in the media they have actually had a chance to stay above $100 for a bit longer.
by negativety do you mean threads like this? This guy wants the price to drop further, most people whowant to invest do. Lose a little now then gain alot later when you buy up at a low before waiting on them topping out again.
the problem is that the complaints come from the -small- buyers....and a lot of them
They loose a few dollars they wanted to use to buy drugs...
When you cannot buy the drugs you got cranky.
They have nothing to do with the bitcoins prices or crash etc.
If you read the info you'll know that it will go up.
All this negative talking has of course an effect but....it only effects the -small- buyers who want to buy a few coins to buy drugs.
The ones who will make the coin rise have no interest or will be effected by this wining whatsoever.
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I think to a lot of people didn't like that they spent $200 and got 1 bitcoin, especially when they were used to getting a lot more. Of course, they could buy 2 grams of coke or 3 grams of MDMA with that bitcoin, but that part didn't translate.
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...I just keep thinking to my self if it weren't for all of the negativity surrounding btc in the media they have actually had a chance to stay above $100 for a bit longer.
Why do you suppose that is? It's because the establishment financial elites, that gets to sleep with all the MSM, don't want any competition. It's that simple. But I don't see any way for bitcoin to disappear doen the memory hole. If anything, it will make the banks and the fiat currencies hurt so much they will become practically useless, and the bond holders and stock holders will be royally fucked!
goblin
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some good comments here. somepup and fractal. now everyone's had a taste of what life is like in an economy that doesn't have a stable currency, ie. Zimbabwe, 1930's Germany, 1980's Argentina. Investing in a currency, even a cryptocurreny, is fraught with risk. Risks that a non financial professional are not equipped to understand or undertake. The masses will just suffer the consequences of volatility. Can't buy food in Zimbabwe, can't buy drugs on SR, same difference. Just like you saw economic refuges leave Germany in the 1930's, you'll see many users AND vendors leave SR. I just hope SR doesn't spawn a Hitler like Germany did.
"I just hope SR doesn't spawn a Hitler like Germany did."
I'm gonna play Devil's advocate here and say I hope SR does spawn a Hitler-esque figure, minus the genocide part of course. Hitler united his people under a cause (that genocide thing again, but SR should do something different) and gave the economy a much needed kick in the ass.
SR needs a common cause we can all get behind along with something to get the bitcoin economy growing in a healthy manner. I guess you could say we've got DPR and a drug-legalization platform to get behind, but we're missing the unity. There's too many people trying to get something over on the other guy. Not to mention the bitcoin economy issue. That $200+ bubble and everything that lead to it can't be good for the currency in the long run, but I don't really know as I'm not financially educated.
Uh, DPR for president I guess?
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...I just keep thinking to my self if it weren't for all of the negativity surrounding btc in the media they have actually had a chance to stay above $100 for a bit longer.
Why do you suppose that is? It's because the establishment financial elites, that gets to sleep with all the MSM, don't want any competition. It's that simple. But I don't see any way for bitcoin to disappear doen the memory hole. If anything, it will make the banks and the fiat currencies hurt so much they will become practically useless, and the bond holders and stock holders will be royally fucked!
goblin
Winklevoss-brothers (facebook) invest in bitcoins, they own as they say, 1% of all coins.
Everybody know how stupid they are right ?? -sarcasm off-
Of course there are more ''big guys'' who invest but do not tell.....
There is a saying...never gamble with money you cannot afford to loose.
Same goes with buying coins...if you need to struggle to get the money to buy them...DON"T !!
Have money you don't need for at least a year or so....buy!
Gambling with money you cannot loose....you will panic because you see them drop or sell them when they go up a little....you need to sell...you need to because wowww now you make 300 dollar profit.
Stop kidding yourself....you just loose one way or another. Investing or play the market only possible without emotion and all I hear/see here is emotion ???
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This is nothing other than an attempt to scare people into selling and lower the price further. A bear run it's called.
Bump. It's a change of ownership for those that run. 8)
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I'm gonna play Devil's advocate here and say I hope SR does spawn a Hitler-esque figure, minus the genocide part of course. Hitler united his people under a cause (that genocide thing again, but SR should do something different) and gave the economy a much needed kick in the ass.
SR needs a common cause we can all get behind along with something to get the bitcoin economy growing in a healthy manner. I guess you could say we've got DPR and a drug-legalization platform to get behind, but we're missing the unity. There's too many people trying to get something over on the other guy. Not to mention the bitcoin economy issue. That $200+ bubble and everything that lead to it can't be good for the currency in the long run, but I don't really know as I'm not financially educated.
Uh, DPR for president I guess?
Good idea - let's turn SR into a fascist dictatorship. Some downside, I guess, but at least the trains will run on time and the BTC price will stabilize
[/snark off]
SR is not going to "get the bitcoin economy growing in a healthy manner". What will do that is better infrastructure and a diverse set of marketplaces that use it. We are seeing the birth pangs of a system that no one really understands fully. It's pretty remarkable that it works as well as it does. SR, also, is a new entity in the world. We all need to have patience while wrinkles are ironed out.
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I'm gonna play Devil's advocate here and say I hope SR does spawn a Hitler-esque figure, minus the genocide part of course. Hitler united his people under a cause (that genocide thing again, but SR should do something different) and gave the economy a much needed kick in the ass.
SR needs a common cause we can all get behind along with something to get the bitcoin economy growing in a healthy manner. I guess you could say we've got DPR and a drug-legalization platform to get behind, but we're missing the unity. There's too many people trying to get something over on the other guy. Not to mention the bitcoin economy issue. That $200+ bubble and everything that lead to it can't be good for the currency in the long run, but I don't really know as I'm not financially educated.
Uh, DPR for president I guess?
Good idea - let's turn SR into a fascist dictatorship. Some downside, I guess, but at least the trains will run on time and the BTC price will stabilize
[/snark off]
SR is not going to "get the bitcoin economy growing in a healthy manner". What will do that is better infrastructure and a diverse set of marketplaces that use it. We are seeing the birth pangs of a system that no one really understands fully. It's pretty remarkable that it works as well as it does. SR, also, is a new entity in the world. We all need to have patience while wrinkles are ironed out.
The ARMY OF Ca-Co-LSD-METH-XANAX-XTC is here to set you free. :P Oh yeah, and motivated by the writings of Rothbard...
The Rothbard Army of Light.