Silk Road forums
Discussion => Silk Road discussion => Topic started by: Snooze on April 12, 2013, 08:21 pm
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I'll Start it off...
We remember Snooze who just bought coins seconds before the crash. He lost $747 as of now.
DONG...............DONG............DONG............
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. . . And hats off for the many brave vendors who stuck it out and continued to sell despite the losses. They are Heroes.
. . . DONG . . . DONG . . .
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. . . Stock traders jumped out of 50 story windows during the crash . . . Meanwhile drug users on Silk Road jumped out of first floor apartment windows, screaming all the way down. Some scraped their knees.
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Yeah I am gonna lose a pile if it bottoms out ... but I also made a pile when it was going up and I was seeing $2000 for some of my ounces .... so its my fault maybe not cashing out as much as I should have.
If it gets back to 125-150 I will be happy ... the ridiculous spike from Apr 1-8 was totally obscene.
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I certainly lost several hundred. Could have been worse but I didn't exactly have that money to lose..oh well I took a risk..it paid off in teh past just not this time.
They are steadily on the rise again which I assumed would happen.
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definitley a lesson to learn.
Cash out as soon as you can and don't be greedy bastards thinking that your coins will be worth more tomorrow. It might not even be there tomorrow.
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Cash out as soon as you can and don't be greedy bastards thinking that your coins will be worth more tomorrow. It might not even be there tomorrow.
Bitcoin was worth over $100 for only about 10 days, from April 1 to 10. Anybody who bought before then -- meaning anybody who held onto their coins for more than 2 weeks -- hasn't lost money. You should either spend immediately or be in it for the long haul. You are right though, that trying to make a buck off short term trends is probably destined for failure.
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. . . . its just a little bit of history repeating. .
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I bought $500 worth of coins from Suga Mama not long ago, so I ended up with about $440 worth after her fees. I ended up buying $600 worth of fun as the price rose and have $50 worth of coin still. I made out good in my book. Wish I had the money to buy up a lot of coins right now, I would if I could.
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Wish I had the money to buy up a lot of coins right now, I would if I could.
Yeah no shit. BTC hit a low of $55 today and is trading at $110 now. That was a steal.
I'm definitely keeping some cash on hand from now, because I'm sure there will be sell offs in the future.
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So annoying. Was refunded for an order last night, and when I woke to access the account today, I'd lost roughly $150 USD. Crazy how this works.
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Had a few grand sitting in my account to make a large purchase that wasnt listed as quick as I had hoped, however, I made out in about 1400 in equity over about 4 days of that btc value spike. Placed a few orders with the excess coin, some stuff that I could resell at a profit, and some stuff for the head. Overall only lost about 160 in equity on the few hundred or so left in my account. Got lucky though, was almost thinking there was no way to lose, and I was stupid not to sit on that coin further. Glad I went the safe route in the end.
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lol people prolly killed themselves these past couple days.. hearing stories of kids taking out student loans selling shit and what not to buy bitcoins.. only for it to crash to 50 a couple days later..
i bought at 110 120
i made like 3000 or sum round that bought a pound of weed and still have 1700 right now.. if it goes back up to 120 on SR i will have my 2500 i made and be a happy man..
THANK GOD IM NOT A JACKASS AND BOUGHT PAST 200.. FUCKING EVERYONE THAT DID THAT PROLLY WANTS TO SLEEP ALL DAY OR CANT SLEEP CUZ THEY CANT STOP SMACKING THEMSELVES WITH A DICK TO THE FACE.. FUCKING BS WORLD..
all is well with me but i feel for some of you.. supertrips says he lost 1.5 million.. thats just insane..
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getting a little better. $617 down. that's up $130 since i wrote this. keep buying those coins boys!!! :)
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THANK GOD IM NOT A JACKASS AND BOUGHT PAST 200.. FUCKING EVERYONE THAT DID THAT PROLLY WANTS TO SLEEP ALL DAY OR CANT SLEEP CUZ THEY CANT STOP SMACKING THEMSELVES WITH A DICK TO THE FACE.. FUCKING BS WORLD..
all is well with me but i feel for some of you.. supertrips says he lost 1.5 million.. thats just insane..
that's not the case man. i was about to buy something. and it took days to get coins because it got hard to buy them. as soon as i got m coins they crashed! hit $150 from $266 in less than a hour. and kept falling hard. vendors pulled listings or just cancelled it. i wasn't buying at $255 for an investment but to make a buy. coins actually came close to $30 and i called it as a complete lose. like George Costanza "im going down with the ship!" i got no choice to hold on to them and see the best i can salvage. its all timing. glad it worked out with you.
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Drugs and stocks don't mix.
We don't have the patience for it. Two very different worlds
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This nigga cashed out the night before the crash 8)
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man it just crashed another $20 after rising. it took MONTHS before btc went from $10 to $20. now they drop or rise $20 in a minute.
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Down $8000.
Was up at night, 2am, thinking about cashing out. I was so tired that I thought I will go to bed and cash out in the morning. I wake up and it had crashed badly.
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thats the risk everyone willingly takes using bitcoins, especially those who get greedy trying to make money and get shit on in the end.
and i dont believe supertrips when he says he lost well over 1.5 million (USD or Euros or ?)
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^^it was actually 1,5 million pennies
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I hold cash in mtgox and only buy btc when I'm making a purchase so no money lost that way at least. I invest in stocks, mutual funds and currencies for my real investments lol
Good luck to you all. I hope that Vendors will be upstanding and take the loss rather than be tempted into selective scamming / order cancellation. They made lots of extra money on the rise after all which would offset any losses if they were cashing out regularly. If a vendor did that to me I would name and shame...
CC
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lol people prolly killed themselves these past couple days.. hearing stories of kids taking out student loans selling shit and what not to buy bitcoins.. only for it to crash to 50 a couple days later..
i bought at 110 120
i made like 3000 or sum round that bought a pound of weed and still have 1700 right now.. if it goes back up to 120 on SR i will have my 2500 i made and be a happy man..
THANK GOD IM NOT A JACKASS AND BOUGHT PAST 200.. FUCKING EVERYONE THAT DID THAT PROLLY WANTS TO SLEEP ALL DAY OR CANT SLEEP CUZ THEY CANT STOP SMACKING THEMSELVES WITH A DICK TO THE FACE.. FUCKING BS WORLD..
all is well with me but i feel for some of you.. supertrips says he lost 1.5 million.. thats just insane..
Prolly is not a word.... dickwee
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It was Thermite I tell ya Thermite!!! 19 Magic the Gathering Nerds on commodore64s in their dad's garage indeed.
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Down $8000.
Was up at night, 2am, thinking about cashing out. I was so tired that I thought I will go to bed and cash out in the morning. I wake up and it had crashed badly.
If I had cashed out at $240 I'd also have nearly $8k more than I have today.
Fuck it, we shouldn't be using BTC as a commodity anyway, lets just stick to buying drugs with it and leave the speculation alone, BTC is just too volatile right now.
Hoping it will recover to around $100 in a week or so... we shall see ;D
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Wouldn't be surprised if we're back $200+ within a couple weeks..
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thats the risk everyone willingly takes using bitcoins, especially those who get greedy trying to make money and get shit on in the end.
and i dont believe supertrips when he says he lost well over 1.5 million (USD or Euros or ?)
If SuperTrips has $200,000 in bitcoins just 3 months ago, it would have been worth 2 million at its peak. So I wouldn't be surprised if SuperTrips lost $1.5 million. Also SuperTrips is one of the biggest vendors on here. He'd be selling tens of thousands of dollars worth of drugs per week. He probably invested heavily in bitcoins too.
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Lost about £200, not as bad as some people
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we picked one crazy month to start selling on SR
Hindsight is better than foresight
time for a fat bowl
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Infinite respect for vendor subtickle, who honored 13.5g MDMA order at a huge loss to himself.
I imagine many vendors stuck it out because they'd been making up to 200% profits as bitcoin was rising.
DPR really needs to stop linking SRs bitcoin price to Mtgox though. The guys at mt have proven themselves to be moronic, and their lag is notorious.
Thankfully right now there are some very serious people building an exchange that is at a world class level of technology, that can actually handle massive quantities of transactions.
There will be more bubbles with Bitcoin, probably a couple more, and if we are to get stability that is anything like modern fiat then we certainly need to end Gox's monopoly and get some better exchanges operating.
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I bought at $160 because I thought that was the end of the crash/correction. Thought I was getting in at the bottom, then the next day there were $80. I only spent a small amount so haven't really lost too much but it still hurts.
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Yes... I kept many coins when I was debating on selling at $254 but wanted to wait a bit because I got greedy. Yes... it pains me to ship Top Shelf ounces for 1.48 bitcoin but an order is an order.
Let's face it, SR isn't Walmart and scared money doesn't make money. I will take the advice of another vendor and repeat it here, sell your drugs for profit and cash out your coins ASAP.
As a buyer, buy and use your coins as soon as you want to make a purchase.
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I agree with TraderJoe. I have always spent my coins shortly after acquiring them. The longest I hold any significant amount of coins (hundreds of dollars worth) is a couple days at most. In this little drama recently I actually gained about 160-200 and spent before the drop so I lucked out but the fact is if you want to hold coins and speculate you will learn quickly the ups and downs of speculating.
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We didn't take a huge loss but we did ship every order we received and never took down our listings, although we did switch from unhedged to hedged mid crash. This included selling a 1/2 ounce for .63 btc so this customer basically got a 1/2 ounce for $63 (at $100/btc).
We realize that our customers most likely paid more for bitcoins than they are worth now and we are in it for the long haul so we don't mind waiting for the price to recover and helping to alleviate some of the loss.
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BTC suck.
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Let's just say I should've asked for a reship instead of taking the refund that was offered the night before the crash. Woke up to see my refund and got super excited, then looked at the price of the coins (down to 130 from 255 at the time of refund) and almost fainted.
Not cashing out yet in hopes that I can at least make a couple grand back :(
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Let's just say I should've asked for a reship instead of taking the refund that was offered the night before the crash. Woke up to see my refund and got super excited, then looked at the price of the coins (down to 130 from 255 at the time of refund) and almost fainted.
Not cashing out yet in hopes that I can at least make a couple grand back :(
Ouch that hurts. Sorry to hear that mate.
I invested about $9500 sporadically throughout the inflation with $5000 purchased the day before the crashed @211 hoping I was going to make a few grand in a short period of time.
Wednesday morning when it was at $244 I had over $14k in BTC and made over $5k in profit! I was at lunch with a friend who I talked into investing $500 worth of coin as I noticed the last price on Mt Gox drop down to $105. I had freaked out, ran home and made a purchase for $8000 @$194 and still have about 22 coins left over. So I still ended up walking away with $1000 profit.. hopefully it does find some stability soon because I believe that history will repeat itself and one day BTC might one day be worth $500 or even $1000 as more and more merchants are starting to accept BTC.
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I certainly lost several hundred. Could have been worse but I didn't exactly have that money to lose..oh well I took a risk..it paid off in teh past just not this time.
They are steadily on the rise again which I assumed would happen.
;DONG DONG Da DONG ;D