Silk Road forums
Discussion => Off topic => Topic started by: Edawg420 on November 28, 2012, 03:48 am
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With the ever growing users of SR, the decreasing risks of buying drugs online and basically the minimal amounts products you can genuinely purchase with bit coins, will the value if the bit coin increase? Just not more that 3-4 months ago bought BTC's at a 5 bucks. If i would have held on to them say until now i would have double my investment....as the way things are going, wouldn't it be safe to say BTC's are going to at least double again within 3-4 months?
From day to say it doesn't seem to change much but i swear last week they were around 10 right !?!?!?!?
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I was a very early btc but didn't have the foresight (or retrospective knowledge) to hold onto them. It's true to say that l would be wealthy now had l kept hold of them. l think those kind of opportunities are now gone. there could be another rise but not the 1000%+ that l saw in the early days.
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They steady rose another .30 cents... we'll see eh ? =P
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Anytime I've been loading my account for a purchase, I'll get 20-50 extra in BTC just to hang on to them in my SR Acct. I see it as a hedge to the U.S. dollar, which continues to fall in purchasing power.
With the block halving just recently happened I am hoping there is an emotional change in the market to drive the price up. I am sure there are a few major player/manipulators who are vice locked trying to push it either way at the moment (Judging by the rapid fluctuations the last few days). I am just hoping to be on the winning side :) If it breaks 13 then I am paying next months rent and going all in with the rest of what I have
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I definately try to not buy BTC's on the weekend, as it seems to be at a higher price, but i guess that shouldn't matter if yer buying yer goodies right away
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Another thing to think about is that supposedly the rate for mining bitcoins is suppose to double soon. Do you think that would make their worth increase?
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Wooooo look at that chart soaring!
http://bitcoincharts.com/charts/mtgoxUSD#rg1ztgSzm1g10zm2g25zv
BTC up like a mother fucker - Huge market play at 3pm happened. Be very careful if you are trying to get in - If you weren't in at or before 13 per your risk of catching the blowback is significantly higher!
Little over 16 is the next ceiling. If it breaks that and there isn't a panic sell; this thing may take off!
Edit: At 13.37 now!
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Damn! Why didn't I buy like $500 worth when they were at ~$10? So stupid. I knew this was going to happen, and now I've lost out on a 33% return on that investment. Oh the drugs I could have bought with that profit. :'( :'(
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yeah the BTC has grown at least $1.30 since i started this thread...sucks i don't have the exact about... i have it at 13.14 mt gox price
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I wanted to bump this thread because i absolutely baffled. I have two conspiracy theories, and 1 normal speculation. What i wrote my last OP BTC's where are like $13. I don't know if you checked but they are reaching $36.
IDK how much BTC makes up the road but i am pretty sure they have a sever impact. Thousands of BTC are transferred daily. Who's to say DPR/Team isn't hoarding BTC's keeping the supply low. We all know with low supply the demand goes up. Again no accusations just conspiracy theories.
My second theory is that people are finding out a currency that has one standard value and only fluctuates on the demand on the BTC. Paying inflation taxes and other stupid shit on real currency, now we have a universal currency which doesn't quite compete with out currencies like the dollar, pound, and yen. Personally i think BTC's should be the only form of banking allowed. With to much power, greed sneaks in. it has be proven time and time again.
Finally, my more believable speculations is composed of to things, First the BTC block doubled, make the supply more and less valuable in theory, which doesn't seem to be a big problem. People are seeing the BTC are slowly depleting resource/currency so the are hoarding. Now i do want to remind everybody about the big BTC crash a while ago, it was like 25 then went down to 4-5 in a matter of weeks.
I wish i had more answer guys....i am sitting here saying WTF, BTC's might rise to 60-70....but what they tank and bottom out to $5 a share again ????
Any thoughts?
I'm not saying there aren't good people but, i am a true believe if the says, "good fences make good neighbors"
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Fuck, if it goes back down to 5 dollars a BTC, then a whole lotta vendors are going to be hurting, and that's bad for the community. So DPR doesn't want that to happen; if he was holding back coins for speculative reasons, he would have to consider the volatility of the BTC market and the possibility of the entire SR empire being financially destroyed... Just my 2 cents at the moment.
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But why not go for the "big dirty", i mean SR is being attacked on all LEO fronts, hoard BTC's skyrocket the price, then liquidate.
PS. I am really stoned and i love talking conspiracy, nothing i say is true or factual, purely speculations and theories.
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I bought 315BTC for $1000 in Nov 2011, sold 115BTC 2 months later in Jan 2012 for $730. 13 months later my remaining 200BTC are still sitting there and is now worth nearly $7,000.
So in 15 months my $270 has increased to $7,000 with investing another $750 for only two months to get my money back. I am very happy, but at least once a week kick myself for not investing another $4K at the beginning.
I bought another 212BTC for $3K in Jan 13 and sold 122BTC after 6 weeks, last week for $3200. So all in I have over $10K worth on BTC for $70 (in reality about $200) in 15 months.
I honestly believe that BTC will go up and down quite sharply again this year, but by the end of the year it will be averaging around the $100 mark. AS long as they don't shut down SR.
When the price settles down for a month or so, I intend to do the same again with $3-5K. If everything goes to shit, I should still have enough coin to cover any loss of investment.
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I bought 315BTC for $1000 in Nov 2011, sold 115BTC 2 months later in Jan 2012 for $730. 13 months later my remaining 200BTC are still sitting there and is now worth nearly $7,000.
So in 15 months my $270 has increased to $7,000 with investing another $750 for only two months to get my money back. I am very happy, but at least once a week kick myself for not investing another $4K at the beginning.
I bought another 212BTC for $3K in Jan 13 and sold 122BTC after 6 weeks, last week for $3200. So all in I have over $10K worth on BTC for $70 (in reality about $200) in 15 months.
I honestly believe that BTC will go up and down quite sharply again this year, but by the end of the year it will be averaging around the $100 mark. AS long as they don't shut down SR.
When the price settles down for a month or so, I intend to do the same again with $3-5K. If everything goes to shit, I should still have enough coin to cover any loss of investment.
I wish I would've done what this genius did.
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40 by thursday 45 by next friday
Trust me
Buy now
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40 or 50 no way....if i see 40 i will eat crow
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40 or 50 no way....if i see 40 i will eat crow
We are at 38 with no serious walls in sight.
We will definitely be hitting close to 50 by end of april
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40????? IDK brother, i say i sticks around 36-39 for the next week.
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My guess it that it will hit the high 40's - low 50's by mid April-ish before coming back down to 25-35 and stabilizing for a while before the next spike to double the stabilized rate again.
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Just when I thought SR couldn't get any better, it gives me discount drugs for buying coin early.. I expect this trend to continue, pending some sort of major change.
BTC is the currency of the internet, it's new technology, there is really no comparison. It wouldn't be crazy for it to continue upwards from here, dips being quite small along the way.
The professional investor community has been coming aboard recently, entire countries are discovering bitcoin as a way to protect their savings from inflation.. Exciting times, gentlemen.
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hey i am no specialists, but stocks value change, my guess someone has a shit ton of BTC's and they are keeping it that was so the can regulate the money. Especially because the block duplication halved or something. Really stoned now....
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There was an article in Forbes last October (i think), where they did an analysis on BitCoins and found that 70% of bitcoins issued have never been recirculated. So only 30% are being reused over and over.
With more and more people hoarding their coins, dealers unable to offload large amounts coin at a time, the reducing rate of coins being created & people seeing BTC as a worthwhile investment (BTC is currently worth $435Million), I think the price will only go up, up & up in the long term. As long as Bitcoin does not become illegal worldwide.
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40 or 50 no way....if i see 40 i will eat crow
Bitcoin has just hit $40 - Time to have Crow for dinner :)
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Some people are getting very wealthy right about now.
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The value of my BTC went up $200 in the last 24hrs. Now if I could just stop buying drugs..... nah!
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I don't know why more people don't invest in Bitcoins and why they choose to stick with FOREX. But the less the better I suppose.
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40 or 50 no way....if i see 40 i will eat crow
Bitcoin has just hit $40 - Time to have Crow for dinner :)
Now now i see 38 =P...but yer right....i could totally buy a shit ton, but i am so scared they drop like 10 bucks...and i am out like 1000 bucks....i mean i figure its a better risk buying high valued drugs n just selling them....less risk than gambling with BTC stocks IMO.
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40 or 50 no way....if i see 40 i will eat crow
Bitcoin has just hit $40 - Time to have Crow for dinner :)
Now now i see 38 =P...but yer right....i could totally buy a shit ton, but i am so scared they drop like 10 bucks...and i am out like 1000 bucks....i mean i figure its a better risk buying high valued drugs n just selling them....less risk than gambling with BTC stocks IMO.
Great reward = big risk - but it's fun atm! If it does start trending downward it could be a bloodbath to get out if you need to.
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Imma play it safe guys...thanks for the advice good chatting brother +1
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I recon to wait until the price falls again and then stabilizes, then its time to buy again
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I recon to wait until the price falls again and then stabilizes, then its time to buy again
That's what I always do. Always play it safe.
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But what if it doesn't stabilize until 45-50 USD?????!!!!
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Looking at bitcoincharts/charts all previous sudden spikes in the BTC price has been followed by a very quick fall followed by a few months of normality, before the next big buyer needs to get their hands on large amounts of coin.
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Farq - Whats going on.
Go to bed last night with the price at $40, wake up this morning and MtGox has already peaked to $45. A 300% increase in 7 weeks. Now I'm pissed I sold 120BTC 2 weeks ago, its worth another $2100. That could have paid for my holiday to Thailand.
Ahhhh That's gambling for ya.
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I don't like this one bit....i was joking about 40 but 45???? are you fucking serious...i am getting my tinfoil hat out for this one, because this looks like a crash just WAITING to happen.
*EDIT* Watch 2 weeks from now they are at $80 USD....motherfucker!
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Just because there's been a never-seen-before increase in its value, doesn't mean there'll be a crash. Wasn't the last one only due to Mt.gox getting hacked? I don't see the same happening with all the new sites accepting BTC as payment. If anything, it will continually increase, and stabilise (not crash) at a slightly lower rate than where it peaks. Again though, just speculation.
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How many other companies accept BTC's??? i thought it was for anonymous gambling and silk road...lol
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Reddit, Wordpress and Namecheap are some big names that come to mind. There are obviously many other less known sites that will accept BTC though.
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Can we get a detailed list of legit uses for bitcoins?
Besides the above mentioned, Silk Road / black markets etc... Never heard of any other uses for BTC.
When I started here last november, coins were around $17~ AUD - 1 btc.
Incredible..
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Dude Mtgox is hording the BTC's and raping us....get the tinfoil hats out!
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Vendors holding a mountain of bit coins. Are fuckin rich today.
Seriously, if they invested wisely they could sell out today. I think this is why some vendors are turning rouge lately. It's a good time to sell out literally and rob everyone on the way out the door
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I shoud have got in on it ... oh well maybe next time
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Crashing...
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I still am standing firm with my prediction
50 by next friday
trust me
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Looks like its falling :(
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Theres a company in massachusetts that is introducing a bitcoin atm. technology that would serve to make getting bitcoin easier would definitely serve to increase the value of coins since they will be easier to use. thats the greatest barrier to the market right now, getting btc to spend.
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everybody rapes you buying BTC's. I mean even MT gox who has some of the best prices make you use 3rd parties to even buy BTC's. There should me a shop that id dedicated to serving customers BTC's as they ake their purchases.
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Man, I only wish I would have bought more.
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I still am standing firm with my prediction
50 by next friday
trust me
Quoting myself, i was right.
I am making another prediction. 82 by next Friday
Trust me