Silk Road forums
Discussion => Off topic => Topic started by: max1259 on September 12, 2011, 01:28 pm
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Really pissed off logging on today and noticed that the Bitcoin rate has dropped AGAIN >:( I bought about 20 BC's last week for a certain item,placed the order an waited.Just logged on to find the guy had cancelled the order and bumped up the price of his item respectively in line for the drop i guess :-\ Still hacked off though because i'd placed my order so i think he should have honoured it :( Now i haven't got enough BC's to buy my item lol.
So what's happening with the rate? Should i spend my 20 BC's like real quick or wait hoping that there going to up there rate? I don't want to hang on to them for another week then log on only to find i can't even buy a fucking E-book lol.
Spend or Save? Hit or Stick?
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By the alignment of Saturn, in the 7 house of Orion, it is written that no one can trully anwser you.
Peace and Love
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Silk Road speculated in another thread that he thinks it'll drop to 1 BTC = 1 USD, hopefully not true but anything is possible. :)
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BTC it's the best but suck's.Very anoying this fluctuation
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From a currency standpoint it doesn't matter what they are worth in USD as long as it stays stable. But from a mining standpoint I want it to go back up to a reasonable rate. SR also said he suspected it would go up to a new high in the future (after it goes 1:1 with USD). I hope it will at least stabilize if not go back up. Kinda tired of losing value by the time a transaction is complete. Escrow has been a double edged sword.
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I think it's best not to save any bitcoins. After a transaction, I sell any extra BC right away. I don't think it's smart to save.
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Here's my view on spending/saving btc. Thus far, I have lost money on most of my transactions due to the fluctuation. I cash out half and keep half in the hopes that the value will go back up. If it doesn't, well I will be screwed. If it does (which I believe it will at some point in the future) I will have a nice chunk of change to play with. If bitcoins get to the point where they are 1% of e-currency transactions, each of the 21,000,000 that will eventually be mined will be worth $50 or more. As evidenced by the success of paypal, liberty reserve, pecunix etc, digital currency isn't going anywhere. Bitcoin will spread beyond the hacker/drugs by mail scene eventually and when it does the value will go back up. As the popularity increases, the value will also increase. The one benefit the bitcoin has over the other currencies (besides being anonymous) is that there is a finite number of them that will be created. Not like other e currencies that are based on USD or EUR or something similar. Once there are 21 million bitcoins, that's it there are no more. When this happens, value will increase. It may take a long time but from an investment standpoint it is worthwhile to keep them. IF you need money right away from selling your product, sell them. IF you can manage to keep at least some of them, they will be worth more in the long run.
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By the alignment of Saturn, in the 7 house of Orion, it is written that no one can trully anwser you.
Peace and Love
+1
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It is my belief that the BTC will continue to fall overall. Short fast fluctuation up and very quick plummets. A quick $2 run up or so followed by a huge drop. Say $2.5-$6. With a slow climb up to level off just above where it started. Hover for a week or two. Than BANG! It does it again. We got a lot of that sh*t to look forward to. 6 months my guess.
After that it's all gravy. Big up swing. We all retire in ? I am not telling where I'm going. Lol.
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I'm holding all our funds for now. Bought some extra at $4 :)
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Yeah, I'm fairly new to the whole Bitcoin trading world, but i nearly shit my pants when i bought 16 BTC for 8 bucks a pop and then the next week they're 4 fucking dollars. They have gone up slightly in value, here's hoping they keep going up. I bought 23 BTC at 5 something a piece, and I have 29 BTC in my Silk Road account and I left 10 BTC in my CampBX account for the moment.. I never heard of Bitcoins before I found this website, but it seems like you could really really make a huge profit off of them if you buy at the right time and wait long enough. If they go down to $1 I'll probably have a heart attack LOL! But after I'm resuscitated I'll definitely buy shitloads of them and PRAY TO THE BITCOIN GODS that they go up considerably in value.
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Some very educated and intelligent folks have played the currency/ futures game for years and both make and lose fortunes. If you are not experienced in this type of trading, you could make a fortune with some luck or conversely, and most likely, lose your ass.
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By the alignment of Saturn, in the 7 house of Orion, it is written that no one can trully anwser you.
Peace and Love
if there was a rep system on this forum, I would rep you so hard right now.
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I would rep you so hard right now.
Why do I find this erotic?
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and why do I want to watch?
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The ship is sinking. Get out while you can. Jump! Spend! Opposite of save.
The BTC will suck and continue to go down (in a bad way) for some time. Months I believe.
Spend um while you got um.
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Don't matter if it's btc or cash thats in your pocket. It ain't much good unless you spend it. Money really does burn a hole in your pocket.