Silk Road forums
Discussion => Security => Topic started by: Thunderweed on February 04, 2013, 08:54 pm
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Holy shit, bitcoins are now 20 bucks a piece!
Anyone else feeling sketched out buying them? I'm almost afraid that from the time they go from instawallet to SR they might crash...Still remembering the bitcoin crash a couple months ago
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Fuck dude - im feelin your pain >
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Well I wouldn't worry too much about it, price seems to be pretty stable around 20$ now. Just get a little (like 10%) extra on SR in case the price drops.
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Well I wouldn't worry too much about it, price seems to be pretty stable around 20$ now. Just get a little (like 10%) extra on SR in case the price drops.
How come you get to 83 posts with just 3+ total karma and me 75 posts get 30 total karma (18+ve and 12-ve) ?
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Holy shit, bitcoins are now 20 bucks a piece!
Anyone else feeling sketched out buying them?
i don't carry more coin, usually, than i plan on spending right away. so, it's not to big of an issue for me.
i remember when btc was near $30 almost 2 years ago, which slumped to $15 within a month and then wobbled between $10-$15 for the following 6 months. then all of the sudden bam, it dropped within a week to about $5 and "stabled" for a long time. don't sweat the fluctuations. if you are a vendor, just hedge it.
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It should stabilize soon
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Yeah, the relatively steady climb over the past year has been amazing to watch.
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It is extremely crazy how it has jumped in just this past month. I can only imagine its hike from the beginning of SR.
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At 23.5, wow
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It's no surprise when they have been as high as $32 then dropped down to $3, and you can be assured that as soon as someone else comes along and creates another cryptocurrency they will be down to around $5 again.
Mind you if you have the $ to invest right now would be a good idea to get some ;)
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The majority of listings on SilkRoad are pegged to the US dollar which means at this moment in time each Bitcoin is worth $22.92 weighted average (clearwebalert) https://mtgox.com/ when the price of Bitcoin rises the price of the listing falls meaning your still receiving the same value for your Bitcoin. The reason why Bitcoin has increased so rapidly over the past month is because the mined blocks have halved from 50 to 25, which is making the miners work twice as hard for the same amount of coin plus the rise in electricity costs to generate the coin, with the added increase in supply and demand. What's the most important thing to remember here is not the value of the coin but is your listing pegged to the US dollar meaning you'll receive the right value for your Bitcoin. Bitcoin has risen approx $2.22 in the past week, whether or not this trend will continue time will tell.
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It's so nice logging into SR in the morning and seeing more money magically showing up in my account 8)
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My 11 BTC are going a lot further nowadays then when I deposited them a few weeks ago... happy camper! Getting antsy, wondering if I should buy a buncha 'delics soon or keep waiting :)
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My 11 BTC are going a lot further nowadays then when I deposited them a few weeks ago... happy camper! Getting antsy, wondering if I should buy a buncha 'delics soon or keep waiting :)
The ultimate test of deferred gratification ... do you want 5 drugs now or 7 drugs later lol
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donate all acrued value from SR wallet to wikileaks...
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It's no surprise when they have been as high as $32 then dropped down to $3, and you can be assured that as soon as someone else comes along and creates another cryptocurrency they will be down to around $5 again.
Mind you if you have the $ to invest right now would be a good idea to get some ;)
Pardon me for bluntly contradicting you, but you're quite mistaken. That drop you're talking about was around the first times bitcoin services were hacked. It showed people they can be stolen if the system holding them isn't as secure as the Bitcoin network itself, and everybody just walked away from them.
There's been a number of alternative cryptocurrencies though. Litecoins being the most succesful, I think. Those are even still around last I heard. Not sure what's up with them, but my point is that your prediction is already true and the price is continuing to increase at an ever faster rate.
Word of mouth is exponential. The more people that know about them, the more people that talk about them, the more people that get interested and buy some, and it spreads faster & faster & faster. Which I assume is what we're seeing. I wouldn't be surprised if they dropped like a stone after a high publicity hack or something... but I'll wager you 5 BTC that they hit $30 within a week and a half ;)
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I tend to agree, SS. While there have been a number of alternative currencies to crop up over the years, none seem to have been as successful as the BTC, and the contenders are few and far between. The LTC is still around, and is popular I think mainly because it isn't as difficult to solve as BTC; it is therefore easier to mine. I don't think that means the LTC will replace the BTC, though; everyone I know who mines or trades in LTC does so as a shortcut to BTC.
I won't take that wager. In fact, I think that we'll see the day when we won't be measuring the prices of things in whole BTCs, but in parts, because the value of a single bitcoin will be so great.
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If it looks, smells, feels like a bubble ... its probably a god damn bubble. Share market is back cranking again, the real economy in the US is picking up. Folks, we are in a buil market, smell the money.
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I do not need to buy BTC right now, but i dont know if their price will keep raising, but what if i bought them now for 27usd a piece and then they went back to 15$ that woudl suck.
Any suggestions?
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I do not need to buy BTC right now, but i dont know if their price will keep raising, but what if i bought them now for 27usd a piece and then they went back to 15$ that woudl suck.
Any suggestions?
suggestions? what the fuck u wanna hear?
YOU WOULD LOOSE A LOT OF MONEY.. lol
suggestion..
buy some fucking drugs and sell them to make ur money back hahaha this is SR buddie
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I do not need to buy BTC right now, but i dont know if their price will keep raising, but what if i bought them now for 27usd a piece and then they went back to 15$ that woudl suck.
Any suggestions?
suggestions? what the fuck u wanna hear?
YOU WOULD LOOSE A LOT OF MONEY.. lol
suggestion..
buy some fucking drugs and sell them to make ur money back hahaha this is SR buddie
LOL
If in between the couple hours it takes for the bitcoins to move onto SR and into escrow they drop 50%, there's nothing you can do. It's called getting straight fucked.
Honestly though, the chances of something like that happening are as likely as you getting robbed on the street before you enter the bank to deposit money.
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I'm kind of upset that I sent out 1300 BTC at 18$ a piece 2 weeks ago to pay for my buddies mishap. If I held off for 2 weeks I could have saved 500btc
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Jesus fucking Christ, 1300 BTC? :o You guys have to clean those kinds of amounts on a bi-weekly basis?! Fuck me... for 1300 BTC I'd write you a better Silk Road than Silk Road, for Christ's sake. Why is there no onion site for contracting programmers?
... I guess because other than competing drug eBay sites, who's gonna hire us...
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Jesus fucking Christ, 1300 BTC? :o You guys have to clean those kinds of amounts on a bi-weekly basis?! Fuck me... for 1300 BTC I'd write you a better Silk Road than Silk Road, for Christ's sake. Why is there no onion site for contracting programmers?
... I guess because other than competing drug eBay sites, who's gonna hire us...
You may be interested...
█║▌│Matrix™ Money ATM Card - 100% Anonymous! │║║█
http://silkroadvb5piz3r.onion/silkroad/item/630159fd73
Comes in very handy!
Matrix 8)
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If it looks, smells, feels like a bubble ... its probably a god damn bubble.
Yep, feels like a bubble to me too. It's a good time to be short BTC and long drugs.
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Im afraid to buy coins at the moment. i spend it right away but if there is a sudden drop im fucked. and i cant afford to loose money...
stabilize for ffucks sake stabilize!!!
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Part of this goes to your overall financial picture. If you have a little money you can invest, then just think of it that way - as an investment.
I'm kind of thinking that most people are just buying BTCs according to need. The pills you want are 4 BTCs, so you do a Bitinstant transfer for $120, etc... I think the people with hundreds in the BTC "bank" are probably the minority. I've just gotten to the point where I'm keeping USD in an exchange service (bitfloor), and buying BTC when I need it. The more the BTC climbs, though, the more dumb that strategy feels to me.
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AND....
I hope no one is even considering that "Enter the Matrix" bullshit. For the low, low, price of B67.79 (USD $2,000) you get:
1 anonymous ATM card (not even a fucking VISA/MC??) with a ridiculous fee schedule, and
$100 pre-loaded
Folks, if you need an anonymous virtual credit card, there are reputable vendors on SR, and I can point you to one off the road (still an escrow service). But, this guy's a scammer. If you HAVE that much money to waste (who does, these days), don't do it.
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Jesus fucking Christ, 1300 BTC? :o You guys have to clean those kinds of amounts on a bi-weekly basis?! Fuck me... for 1300 BTC I'd write you a better Silk Road than Silk Road, for Christ's sake. Why is there no onion site for contracting programmers?
... I guess because other than competing drug eBay sites, who's gonna hire us...
You may be interested...
█║▌│Matrix™ Money ATM Card - 100% Anonymous! │║║█
http://silkroadvb5piz3r.onion/silkroad/item/630159fd73
Comes in very handy!
Matrix 8)
So yeah, if you're for real... that's a pretty neat trick. So here's my questions: what about regional ATM fees? Who pays those? What about transactions fees? Are there flat transaction fees, percentage, combination, etc.? What about balance fees? Do people need to maintain a specific balance at all times? What about currency exchange rates, you say that this is off-shore, so presumably you're going to be calculating things in something other than US dollars. Do you go by the Bitcoin exchange rate of said moneys, or do you go by the US dollar rate and then convert US dollars to your regional currency as a straight currency-to-currency transaction at the current rate? So if there's no names and no way to tie an identity to these cards, how exactly do you keep track of people's balances?
... you don't actually say a whole lot about the product on your page there other than how cool it is. Doesn't do much to engender trust, know what I mean.
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... you don't actually say a whole lot about the product on your page there other than how cool it is. Doesn't do much to engender trust, know what I mean.
Guy should be banned. Predatory vending.
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I don't think this is a bubble. I think bit coins has got the potential to be mainstream but the authorities that be will fight tooth and nail to stop that from happening.we'll see how this pans out...
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Quite frankly, I love having more money than my books actually say. I'm only a couple hundred shy of my gross income after paying off suppliers.
It's like having a batch of products for free and making a profit off those as well as the coin lol.
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Hit $30 today, folks. I really hope these vendors are tying their products to the USD, and not the BTC. I hate it when the $60 drugs today are the $70 drugs tomorrow, when neither supply nor demand has fluctuated.
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If silk road ever dies within the next few months bitcoin gonna be going wayyyyyyyyyy down