Silk Road forums
Discussion => Silk Road discussion => Topic started by: MrShiva on September 09, 2011, 09:13 pm
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AAAAAAAPPPPPPEEEEEESHHHHHHIIIIIIIIT!!!
That's what the BC market has gone and done right now.
All the sellers getting back from the bar tonight realising that they're offering deals that has the buyers wetting their pants in excitement (well... at least in the context of SR at least). I foresee a short period of sellers ramping down there offers (are they even allowed to do that? Not being a seller I'm not sure what they're allowed to do or not do with their open offers). I also predict some sellers may back out of deals due to the current plummeting of the market)
As I write this the BC value stands at at about 3. No that is not a typo!!!
Just look at the chart :
ht tp :// bitcoin charts .com
Looking at block explorer (htt p s:/ /block explore r.c om/) it's pretty simple to figure out that some individual as offloaded a shedload of BC (approx worth £300,000) in one go. They biggest one time sell off since at least April (charts don't go back that far)
On a side note, I'm not sure why they even bothered splitting off their trove into multiple BC transactions (mostly a bunch of 50BC txs and quite a few 2000BC txs). Then funneled into the same exit tx. A useless exercise (probably carried out by a simple script - and just as easily analysed by another). Or is it?? I dunno... still on the fence about this. After all I suppose there might be something to say for leaving a convoluted trail.
Anyway... this is all interesting stuff an 'economic' point of view.
and.... 3 cheers for the guy. We all hate him for blasting the market but secretly we all wanna be him.... LOL
Well.. here's my take on what to do now.
Firstly...DON'T PANIC!!!! I can't say that stongly enough dudes. FFS hold on to your BCs (remember the golden rule.... never sell when the market is low). I see this as an opportunity and have just purchased a bunch at about 3 so I'mm well happy (not massive amount... about $200 worth... not giving details or I'll be chain hunted.... LOL). And don't forget the other golden rule... do not shove anything into the market that you're not prepared to lose.
The only way I can see the market being destroyed is by governments attacking the exchanges. This may well happen.... but it certainly won't happen across the world simultaneously. There'll always be some rouge country willing to sell them.
SR sellers : we all understand your pain at these currency fluctuations fucking with your sales. Please do not bail on your buyers. Just be smart and keep your BC offers in line with the 'normal' such that it's a fair price (at least in SR terms anyway). Unfortunately right now this means watching the currency like a hawk.
now... back to my bong and a thought to those who died 10 years ago. If you think you've got it tough.... think again.
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All the sellers getting back from the bar tonight realising that they're offering deals that has the buyers wetting their pants in excitement (well... at least in the context of SR at least).
But the sellers have their price fixed to the dollar so when the btc value drops the btc amount goes up.
It's just as frustrating to would be buyers who bought at higher amounts and are now forced to take a loss or wait and pray.
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New SR user, here, and my first post :)
I, myself cannot believe how much the BTC has decreased. I overall lost around $68 . (good thing i didnt buy too much BTC - and i thought i was getting a good price @ 7 at the time..)
This could be because of the euro dropping dramatically.
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All the sellers getting back from the bar tonight realising that they're offering deals that has the buyers wetting their pants in excitement (well... at least in the context of SR at least).
But the sellers have their price fixed to the dollar so when the btc value drops the btc amount goes up.
It's just as frustrating to would be buyers who bought at higher amounts and are now forced to take a loss or wait and pray.
Ah... of course. Silly me, makes sense. Was baked when I wrote this :-)
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New SR user, here, and my first post :)
I, myself cannot believe how much the BTC has decreased. I overall lost around $68 . (good thing i didnt buy too much BTC - and i thought i was getting a good price @ 7 at the time..)
This could be because of the euro dropping dramatically.
Not true... look at the charts. Caused by somebody dumping a whole lot of currency
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Everyone go out and buy BTC at this new low rate then buy lots of drugs - prices will go back up. Quickly smoke a bowl do your part to fix the BTC economy.
Peace,
DigitalAlch