The Future of BTC and Darknet Markets

Just a general question to all who are educated on the topic enough to have a worthy opinion, who believes that the value of BTC will bounce back, and if so, in what fashion? If you believe that the value of BTC will only fall what does this mean about the future of darknet markets? If the worst comes to worst, and the value of BTC falls to nothing, will darknet markets live on, if so, how?


Comments


[9 Points] None:

[deleted]


[3 Points] CocaineNose:

<n/a>


[2 Points] None:

Looking at the year time frame chart on coindesk the line on the graph looks like it goes right through the bottom of my phone.


[1 Points] pinkprincess1:

I don't know if it was you who posted essentially the same question from a different account yesterday? Seems a helluva coincidence but in case it is genuinely another person, I think that even if BTC did cease, some other crypto currency or another would just be used on the darknet instead.

There are so many alternatives already out there, they just aren't widely used.

EDIT: Wanted to add yes, I think the markets will always live on in some incarnation, whatever happens, now.


[1 Points] gerundive:

If the worst comes to worst, and the value of BTC falls to nothing...

It won't because it is useful and lots of people are using it.

The day-to-day trading value is determined by the speculators, but the long term trend based on its usefulness is still up. What's happening at the moment is the comedown from the huge speculation that went on in October 2013. When a market goes up very fast purely because of speculation, then it's only to be expected that the market will eventually fall back to somewhere near its original level sooner or later.


[1 Points] Boosie5150:

94,000 will not break the market, and you're just being optimistic about the price bouncing back, as are most Redditors/BTC users.

I've been a BTC user for years as well, and will continue to use it for some time, but I am very confident that the BTC price will be sub $100 within three months and will stabilize there.


[1 Points] DrQuarters_:

Were you around on SR1 when coins were like $6 each? It still worked.


[1 Points] Marag:

Think of btc as a gold rush. When diggers (investors) saw the price going up (meaning gold had been struck), they started buying pushing the price up even further. Then the Chinese got involved and that sent it into overdrive where the price peaked and those who didn't buy btc for drugs made a hefty profit. Then the Chinese government stepped in and banned the trade therefore sending the price back down. Now investors aren't seeing any profits anymore so they're staying away. Buying btc as an investment is no longer profitable and that's how it will stay unless the Chinese government lifts the ban.