silk road - bitcoins

[Snowball]

it seems that probably the main drive on bitcoin prices was
the increasing usership on the silk road.. i think it's gonna
get busted and once people can't use bitcoin for black market
anymore bitcoin value is going to fall apart.

any of you sly punks disagree ?

[flyingillini]

Learn about BTC and why it's been rising. SR is a very very small reason why. There are only a certain amount of BTC available. I have been mining for over a year for BTC and cashed out at $55 from 3.30 a BTC, it will hit a $100 soon. Lots of money to be made and I'm glad i got in on this early.

[Snowball]

of course there was $ to be made on bc and you deserve credit for making
it when it was young and cashing out - but sooner or later something that
has no value or little value will revert to form.. also i wouldn't underestimate
the impact of sr. onion browsers were developed by the navy it's only a
matter of time before governments crack sr and restrict bc use.
sr especially has vulnerabilities because of package deliveries.

[Snowball]

non-onion access to SR or "silk road light ?" gearing up

http://techcrunch.com/2013/03/19/secpoint-will-allow-you-to-access-the-secretive-silk-road-black-market-from-any-browser/

http://secpoint.launchrock.com/

[Snowball]

don't forget BC is "competition" to the European Central Bank and the Federal Reserve. Are these powers going to allow themselves to be counter-verted
by bitcoin ? i don't think so. the end is near.

[Sacrelicious]

non-onion access to SR or "silk road light ?" gearing up

http://techcrunch.com/2013/03/19/secpoint-will-allow-you-to-access-the-secretive-silk-road-black-market-from-any-browser/

http://secpoint.launchrock.com/

This sounds either really really stupid,

Or like a massive sting operation for really stupid people.

[DirkDiggs]

of course there was $ to be made on bc and you deserve credit for making
it when it was young and cashing out - but sooner or later something that
has no value or little value will revert to form

It is a fiat currency, same as a US dollar...

[Bosseman22]

Wall street journal just had an article about this a couple days ago(I'd post a link but I'm to lazy)
anyway justice department is trying to shut it down

[Sacrelicious]

Wall street journal just had an article about this a couple days ago(I'd post a link but I'm to lazy)
anyway justice department is trying to shut it down

I do not doubt it, but it was designed specifically to prevent this from happening. All they can do is shut down the current exchanges on US soil, this has only become an issue because of the big exchange thats opening up in conjunction with mt gox.

They literally CAN NOT shut down bitcoin, period, read the bitcoin white paper and study how the stuff is produced, this was all thought out ahead of time.

[Sacrelicious]

It is a fiat currency, same as a US dollar...

No, its not, read the bitcoin white paper, its produced by users spending their computing power to maintain and build the network, that is what produces the coin, hence why they have value.

Theres nothing fiat about it.

[FreeFall]

I do not doubt it, but it was designed specifically to prevent this from happening. All they can do is shut down the current exchanges on US soil, this has only become an issue because of the big exchange thats opening up in conjunction with mt gox.

They literally CAN NOT shut down bitcoin, period, read the bitcoin white paper and study how the stuff is produced, this was all thought out ahead of time.

What if I turn off the internet?

[Sacrelicious]

What if I turn off the internet?

Best of luck with that.

But a very clever response.

[gauchojake]

Lol shitcoins

[Sacrelicious]

Lol shitcoins

I was a latecomer, I bought mine for 17 dollars. They are now almost 100 dollars. 500+ percent profit in 3 months.

"shitcoins", indeed.

[Snowball]

told ya's

Bitcoin bubble begins to burst, price plunges 60%

<cite style="color: rgb(56, 130, 34); font-style: normal; word-wrap: break-word; line-height: 17px; margin-right: 5px; ">buzz.money.cnn.com</cite>·35 minutes ago
The price of Bitcoins, which has surged nearly 20-fold this year, plunged 60% Wednesday. It may be the beginning of the end for the Bitcoinbubble. The price…

[ACoochy]

Love these clowns that clearly haven't taken the time to fully understand what it is.

So many uninformed ppl out there with opinions about such a multi-dimensional and technical currency..

[Snowball]

Love these clowns that clearly haven't taken the time to fully understand what it is.

So many uninformed ppl out there with opinions about such a multi-dimensional and technical currency..

i told you this would happen imminently 3 weeks ago-
and it's falling more now. This is not some geeky chart correction.
The Feds and all world governments are shutting this crap down.
Get out or lose all.

[ACoochy]

i told you this would happen imminently 3 weeks ago-
and it's falling more now. This is not some geeky chart correction.
The Feds and all world governments are shutting this crap down.
Get out or lose all.

Look at the bigger picture Snowy and you'll understand this is going nowhere.

Hope all the sheeple that got in past couple of weeks were buried because it was them that hyper inflated the price.

Basically the logarithmic increase in bitcoin market cap is not correlating to the number of bitcoin transactions per day.

While bitcoin volume and prices are increasing precipitously, there are not many more participants using them as actual currency.

People are simply looking to store money somewhere at the moment. This is not sustainable and is why we are seeing current corrections.

The fact I no longer have to trust the guy at the other end of transaction is my primary reason why I stay.

In addition, as long as shady criminal types have a use this it (or a alteration of this) then it will always have a market.

[Sacrelicious]

told ya's

Bitcoin bubble begins to burst, price plunges 60%

<cite style="color: rgb(56, 130, 34); font-style: normal; word-wrap: break-word; line-height: 17px; margin-right: 5px; ">buzz.money.cnn.com</cite>·35 minutes ago
The price of Bitcoins, which has surged nearly 20-fold this year, plunged 60% Wednesday. It may be the beginning of the end for the Bitcoinbubble. The price…

The bitcoin price crashed sixty percent? OH SHIT.

A week and a half ago it was at 70$/BTC.

And today it crashed all the way down from 250$ to 140$/BTC.

PANIC SELL! BITCOIN IS CRASHING!

[Russian Rocket]

I was a latecomer, I bought mine for 17 dollars. They are now almost 100 dollars. 500+ percent profit in 3 months.

"shitcoins", indeed.

folks here's Sacre's new bachelor pad...not too shabby I gotta say

[Sacrelicious]

Expect plunges like this, they have happened in the past, about once a week, but they will continue to get more volatile going forward.

They have been caused by two things in the past:

A) A big selloff

B) The fact that Mt Gox lags like hell

Now there is a new factor,

C) New money from people who heard about bitcoin being a money tree on NPR or MSNBC and do not understand how it works.

When a large selloff occurs, the price drops, this is a fact, and is historically how the sharps have made their money off bitcoin.

But now you have an influx of morons who have little understanding of how bitcoin works dumping money into it. When they see a sign of trouble, they start panic selling, this causes more Mt Gox lag. Today most of the major bitcoin websites went down and Freenode channel was flooded with almost 2000 people who had little understanding of bitcoin or how it worked attempting to sell off after buying in a week ago.

This had the net effect of reducing the price a great deal, and then sharps bought more, I bought in at 140 and sold enough at 180 to cover my initial expenses, and then I purchased more after more panicked people sold off at 140 yet again.

Bitcoin is going nowhere, its here to stay. Mt Gox is a terrible exchange and it gives newcomers the notion that bitcoin is crashing.

If you invested 1 dollar into something, and got a 20 dollar return, only to have that 20 dollar return crash to 10, and then stabilize at 14, all within the span of 4 months, would you consider it to be "Crashing"?

People are far too eager to discredit BTC.

When it finally does crash to say, a few bucks/BTC, which I still think may happen, I will be the first one buying them up, trust me. This is about the long haul.

[Sacrelicious]

folks here's Sacre's new bachelor pad...not too shabby I gotta say

[pronk]

What if I turn off the internet?

Bingo! This is just another way to scam suckers.

Ponzi scheme.

[KingJD31]

Shit happens with these type of investments, might rise 100% tm for all you know

[Snowball]

told ya's

DHS Cracks Down on Bitcoins

Orders Account of Largest Exchange Seized in 'Ongoing Investigation'

by Jason Ditz, May 15, 2013

http://news.antiwar.com/2013/05/15/dhs-cracks-down-on-bitcoins/

[Smoke]

You told them