Silk Road forums
Discussion => Newbie discussion => Topic started by: jackofspades on March 28, 2013, 09:31 pm
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Okay, today is pretty much the first time ive ever seen BTC fall
and pretty dramatically too.
I heard a lot of people are panic selling but i am just holding on to mine which i bought earlier today!
So i bought them for around USD$98 /BTC
BTC is at approx 80USD now
Am i just screwed??? Ive heard of SR admins being able to compensate you
but my BTC were in a different wallet prior to my SR one (as recomended)
PS: Does anyone have any theories on the crash???
and when it might stabilize again?
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What? Wait, you want SR to compensate you for the bitcoin rate decrease? I don't think that's something they do for users simply because the price has fallen.
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Ha, where exactly did you hear that? If you're acquiring BTC for strictly buying purposes, you should spend them ASAP to avoid situations like this.
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And you're not "screwed" -- the price is always fluctuating like this and it will continue to do so in the future. Do you want to pay SR extra when the price goes back up? Didn't think so. ;)
Anyway, I've never heard of SR reimbursing anyone simply due to the usual btc fluctuations.
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With the ridiculous gains of the past week and months some correction and fluctuation is expected. Remember, they were $13 at the beginning of the year. Either cut you losses, or hold on to them. It really isn't SR's fault. It's an assumed risk when dealing with BTC.
So yeah, be patient if you can bear further risk. Or just use them and write off the 20 bucks as a loss.
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if youre worried ab it then you should spend them up. as far as the btc crashing, i dont see that happening. i say that bc of how dramatically they have risen in the past few months. i think they are becoming more universal and will continue to rise. possibly forever. this is just my opinion though. sr isnt the only place that uses btc. i saw on forbes that someone was selling there house for btc. lol. i also saw on there that the largest btc account was something like 400,000 something btc. like 30 mil in btc. makes me wish i would have spent a few grand on btc about 6 months ago.
btw, i highly doubt sr cares ab your btc loss. if they did reimburse for btc drop, they would go broke if it were to crash. that obsurd
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I've long since given up trying to work it all out. I just buy coins as and when I need them. If it's costs a little more, meh. If it costs a little less, happy days. lol
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Because of the increase it has seen recently a drop isn't that bad
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If you look back, you will also see drops on Mar 7, 12 and 23. It got close to $100, so profit takers bailed. Price dropped, others bought and prices rebounded to lower value. It will probably continue to slowly rise back to $100 next week. I say hold them if you can, use them if you need them.
That's my .02 BTC
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Bitcoin is a risky investment right now, if you're buying on SR, buy the BTC and try to use it ASAP. The market could plummet back down to 20-30usd any day.
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Everything will work out as intended. In the short term it may fall but in the long term it will only increase.
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Hold on for another week, they will be worth $120 a coin. It always drops on the weekend as the day traders are on a brake.