Bitcoin rise

[weed dude]

SO as many people may have noticed the after the bitcoin price dropped almost 30%, its now risen back to what it was before, but it seems vendors are not changing the price of there product incline with the price of a bitcoin, I think vendors need to keep tract of it so we don't have to pay for overpriced product

[Ballzinator]

All hidden marketplaces I know calculate the BTC prices from fixed prices in $/€/whatever in real time. Where did you have this issue?

[EastNorthEast]

As there is a lot of bitcoins seized by police the price has now got higher as there is less in circulation, especially in the free market sphere.
I believe it will rise even more when the other markets pick up more of old silkroads business, if you have much bitcoins it might be wise to keep them a while longer to gain some profits.

All of the old SR and DPR's bitcoins only accounted for about 1% of all bitcoins in circulation. Not enough to drastically change the price. Additionally there are already a plethora of alternative sites similar to the old SR.

[WickedWords]

All hidden marketplaces I know calculate the BTC prices from fixed prices in $/€/whatever in real time. Where did you have this issue?

For me personally, I set my prices manually in terms of BTC, because I trust the future of BTC. Also, as I'm selling a service rather than a physical product, slight fluctuations do not affect my product margins.

But I do believe that, as you suggested, most vendors set their prices to change in real-time depending on the value of BTC in USD/GBP/EUR etc.

[Rastaman Vibration]

Fucking sucks that the feds stole my coins from SR, I'd be rollin right now

[Dead Pirate Roberts]

Amen to that brother. those filthy bar stewards took my coin too. I would of been high as a mother fucker, no more shit til payday for me. it sucks cos I had just put a months worth of bitcoin in to sr as I had just been paid at end of september.

[weed dude]

Amen to that brother. those filthy bar stewards took my coin too. I would of been high as a mother fucker, no more shit til payday for me. it sucks cos I had just put a months worth of bitcoin in to sr as I had just been paid at end of september.

I lost 3 Coins,  put me back a month too mate know how you feel. fucking police.

[chluke]

I had about 2BTC in my account, was just getting ready to place an order, too bad.
I wonder what LE actually got access to, everyones SR wallets, or just whatever was in escrow accounts.
Glad they couldn't get into Ulbricht's wallet. Should be interesting how this develops, if they try to make a deal with him for the wallet.
I hope now that he has a good lawyer, that he manages to get a lot of the charges thrown out.

[SmellyCunt]

if the cap for bitcoins is somewhere around 21 million coins, and DPR had 600kish, then he would have had 2.% of all possible bitcoins. i don't know what the number is currently, but 1% doesn't sound quite accurate.

[Yoda]

if the cap for bitcoins is somewhere around 21 million coins, and DPR had 600kish, then he would have had 2.% of all possible bitcoins. i don't know what the number is currently, but 1% doesn't sound quite accurate.

According to:
https://blockexplorer.com/q/totalbc

11870025 btc currently exist.

So if dpr had 600,000... 600000/11870025 = 0.05         5%

Adding on the 26K Btc from users seized:   5.27%

(Interesting UN you got there btw)

[charas]

 The recent rise has surprised me, I thought they would stay down for a while yet. I'm in the UK & they were £60 to £70 for a good while, now they are over a £100, hindsight & all that, how I wish I bought a load when they were £6, that's not that long ago.
 Have a great Sunday.

 C

[Dead Pirate Roberts]

seems like yesterday they were 20 quid in the uk. now nearly 120....

ah well, my stash has gone up in value. 

[SaLuS]

I hope the price keeps rising!!

[monoxide]

I have not been on for about a week and came in to see it was at like $190AU or some shit...can't remember exactly but damn..'

[one.top]

I have not been on for about a week and came in to see it was at like $190AU or some shit...can't remember exactly but damn..'

It had hit $200AUD in the last few days. Id prefer if it was stable once our (silkroad) economy gets rolling again. You can be holding a few coins and in the space of a few days they can either gain or lose 10% or more. It almost like involuntary gambling just having a BTC wallet with a balance.

[Alfred]

I have not been on for about a week and came in to see it was at like $190AU or some shit...can't remember exactly but damn..'

It had hit $200AUD in the last few days. Id prefer if it was stable once our (silkroad) economy gets rolling again. You can be holding a few coins and in the space of a few days they can either gain or lose 10% or more. It almost like involuntary gambling just having a BTC wallet with a balance.

This gave me a chuckle because I was thinking the exact same thing about the involuntary gambling!

[WickedWords]

You can be holding a few coins and in the space of a few days they can either gain or lose 10% or more. It almost like involuntary gambling just having a BTC wallet with a balance.

It's only like involuntary gambling if you're only looking at what you've got in terms of its USD/GBP/EUR/ETC value.

If you look at it in terms of 'yesterday I had 2 bitcoin, today I still have 2 bitcoin' then it remains the same.

Of course, very few people actually do look at it like this, and until enough places start accepting bitcoin as payment, it will remain difficult to look at its value as anything BUT what it can be exchanged for in terms of government-issued bank notes...

Either way though, great phrase (involuntary gambling)

[orange]

I have no idea why this is in the "security" subforum - but the Chinese are to blame for the current rise.

(CLEARNET)
http://www.wired.com/wiredenterprise/2013/10/btc-china/
http://www.zdnet.com/bitcoin-exceeds-200-mark-investors-worry-about-bubble-7000022325/

They own 35% of the exchange market by now.