Silk Road forums

Discussion => Silk Road discussion => Topic started by: MasterMinja on April 10, 2012, 09:53 am

Title: How much do you think the bitcoin will go up with the latest 420 sale
Post by: MasterMinja on April 10, 2012, 09:53 am
just curious to how much money i could potentially make, does anyone have any refernces to past sales. Also how much of the bitcoin market is involed in the silk road. because as far as i can tell, while there is other legitimate reasons to use bitcoins, the silkroad is the biggest reason out there. What are other major uses for bitcoin
Title: Re: How much do you think the bitcoin will go up with the latest 420 sale
Post by: greek on April 10, 2012, 10:24 am
im guessing it going to be worth nearly 6euro if not more per bitcoin over 420
Title: Re: How much do you think the bitcoin will go up with the latest 420 sale
Post by: Reseller on April 10, 2012, 03:50 pm
I can say with almost certainty that the value of the BTC will not rise significantly SOLELY as a result of 4/20.

Those who are smart do not buy Bitcoin from exchanges like Mt. Gox or Intersango.. Nope - instead they trade OTC (over the counter). There are zero fees, and there is no market slippage (ie: your transactions do not push up or lower the value of the BTC).


Edit > if you feel strongly enough otherwise, go to http://www.bitconica.com     and take a leveraged long position.
Title: Re: How much do you think the bitcoin will go up with the latest 420 sale
Post by: cindylove on April 10, 2012, 03:57 pm
There are zero fees, and there is no market slippage (ie: your transactions do not push up or lower the value of the BTC)

how come?
Title: Re: How much do you think the bitcoin will go up with the latest 420 sale
Post by: chronicpain on April 10, 2012, 03:58 pm
Would have to agree with Reseller... During the last big sale, the BTC went up just a tiny bit then dropped.. I would say it was a wash.... But, then again, who knows,, the bitc market is crazy...
Title: Re: How much do you think the bitcoin will go up with the latest 420 sale
Post by: Reseller on April 10, 2012, 04:12 pm
There are zero fees, and there is no market slippage (ie: your transactions do not push up or lower the value of the BTC)

how come?

There is no central exchange when you trade OTC so the ledger balance (orderbook) of incoming/outgoing BTC is non-existent.  OTC is great if you are unloading thousands of BTC and don't want the dumping to lower the value of each coin.

Think of it this way, if you create a sell order on Mt. Gox for 10,000 BTC at the price of $4.70 per coin, your position will clear all the 'bids' where users have bid more or equal to $4.70 per coin. However, once your large (10,000) BTC order has consumed all of those bids, the new highest bid will be lower than $4.70. As you can see, your 'sell' lowered the value of the BTC. This is especially significant if you are unloading say 30,000+ BTC, which some vendors here actually do or if you run a central BTC based business like Zhoutong (Bitcoinica), Yankee /Charlie (BitInstant), or Jered (TradeHill).

Would have to agree with Reseller... During the last big sale, the BTC went up just a tiny bit then dropped.. I would say it was a wash.... But, then again, who knows,, the bitc market is crazy...

At the end of the day, who really knows. This is BTC we are talking about.

Title: Re: How much do you think the bitcoin will go up with the latest 420 sale
Post by: Bud on April 10, 2012, 04:15 pm
none. you wont make any money ypu fucking idiot,
Title: Re: How much do you think the bitcoin will go up with the latest 420 sale
Post by: MasterMinja on April 11, 2012, 12:37 am
Disappointed :( , but thanks for your responses, except for bud.
Title: Re: How much do you think the bitcoin will go up with the latest 420 sale
Post by: 420jordan on April 11, 2012, 01:24 am
I was thinking the same thing :o it would be great to see but will doubtfully happen. Always a chance though with the market these days so keep your fingers crossed!
Title: Re: How much do you think the bitcoin will go up with the latest 420 sale
Post by: Red Flag on April 11, 2012, 02:06 am
I try studying bitcoins hoping for accurate price predictions but its very difficult. It seems like there are many wild factors when calculating bitcoin value. I would love to speak with someone that has a better understanding of why bitcoin value goes up and down.
Title: Re: How much do you think the bitcoin will go up with the latest 420 sale
Post by: Reseller on April 11, 2012, 02:46 am
none. you wont make any money ypu fucking idiot,
I imagine you have a small penis Bud.

I try studying bitcoins hoping for accurate price predictions but its very difficult. It seems like there are many wild factors when calculating bitcoin value. I would love to speak with someone that has a better understanding of why bitcoin value goes up and down.

Feel free to contact me at any time mate.
Title: Re: How much do you think the bitcoin will go up with the latest 420 sale
Post by: radium1911 on April 11, 2012, 05:07 am
Is there any use for BTC other than SR?
Title: Re: How much do you think the bitcoin will go up with the latest 420 sale
Post by: Reseller on April 11, 2012, 05:15 am
Is there any use for BTC other than SR?

While many think this is true, it actually isn't.

I compiled the best reasons.
1.Bitcoins are virtually infinitely divisible....
2. Zero transaction fees....
3. No such thing as a chargeback....
4. Financial privacy....
5. Your account cannot be frozen....
6. No big brother....
7. No censorship
8. More secure than online banking....
9. Bitcoin is transparent and verified....
10. Send payments to anyone worldwide....


Inspiration drawn from:
Code: [Select]
http://bitcoinme.com/
Title: Re: How much do you think the bitcoin will go up with the latest 420 sale
Post by: USd-N-methylamphetamine on April 11, 2012, 05:31 am
I know that erowid.org now accepts donation in BITCOIN! woo!
Title: Re: How much do you think the bitcoin will go up with the latest 420 sale
Post by: lvlbrained on April 11, 2012, 08:17 pm
it wont go up for a sale. when it shot up to 20-30 was after the gawker article when everyone went nuts. since then its been in the press and nothing has happened. a sale is nothing compared to being in the news. a sale is the same people buying a bit more stuff but being in the news is thousands of new customers. I would say the btc market is pretty much dominated by a few players now and as it hits a certain amount a large player will offload enough to keep it from going higher. Hell SR maybe one of those players after this long of operating. say they have 10,000 btc set to auto sell at 5$. the price will never go higher then 5$ unless those 10,000 coins get sold. the market could easily be kept stable by one large player and considering how stable its been lately i would say its controlled. i would say the times of btc speculating are over for now atleast.

in other words sr has loads of coins, he sets mt gox account to sell a fuck ton at 5$ and buy a fuck ton at 4.50. it would never go past either of those points. it would be very easy to do and keep btc stable which would help him in the long run.

pure speculation of course.
Title: Re: How much do you think the bitcoin will go up with the latest 420 sale
Post by: DrunkenAfficianado on April 19, 2012, 05:52 am
I know this is a late post to this thread, but could some one explain to me how to buy/sell OTC "over The Counter"? Thanks!
Title: Re: How much do you think the bitcoin will go up with the latest 420 sale
Post by: MagicMan on April 19, 2012, 04:33 pm
buying/selling OTC is when you meet someone (be it in person or on some forum [preferably bitcointalk.org]) and pay them somehow (check, paypal, moneygram, WU, etc.) and they send you bitcoins
Title: Re: How much do you think the bitcoin will go up with the latest 420 sale
Post by: sitamaja on April 19, 2012, 10:58 pm
How much do you think the Bitcoin will go up with the collapse of the Euro and the Dollar?
This is imminent.
Title: Re: How much do you think the bitcoin will go up with the latest 420 sale
Post by: Horizons on April 19, 2012, 11:09 pm
How much do you think the Bitcoin will go up with the collapse of the Euro and the Dollar?
This is imminent.

When the dollar breaks, bitcoins will become worthless pretty much overnight. They're basically a commodity, after all. Who the fuck is going to want bitcoins when the world economy is collapsing? People will want gold, guns and food - not make-believe Internet cash.
Title: Re: How much do you think the bitcoin will go up with the latest 420 sale
Post by: wanna-be on April 19, 2012, 11:10 pm
buying/selling OTC is when you meet someone (be it in person or on some forum [preferably bitcointalk.org]) and pay them somehow (check, paypal, moneygram, WU, etc.) and they send you bitcoins

Those payment methods you mentioned.  Don't those kill anonymity for at least one party?
Title: Re: How much do you think the bitcoin will go up with the latest 420 sale
Post by: simplyanon on April 19, 2012, 11:41 pm
buying/selling OTC is when you meet someone (be it in person or on some forum [preferably bitcointalk.org]) and pay them somehow (check, paypal, moneygram, WU, etc.) and they send you bitcoins

Those payment methods you mentioned.  Don't those kill anonymity for at least one party?

Use Moneypak. Or anonymous VCCs. Although buying bitcoin is by no means illegal.   
Title: Re: How much do you think the bitcoin will go up with the latest 420 sale
Post by: MagicMan on April 20, 2012, 01:26 am
buying/selling OTC is when you meet someone (be it in person or on some forum [preferably bitcointalk.org]) and pay them somehow (check, paypal, moneygram, WU, etc.) and they send you bitcoins

Those payment methods you mentioned.  Don't those kill anonymity for at least one party?

Yes, those methods are awful for anonymity, however, as mentioned above, buying BTC is completely legal at the moment so that shouldn't be a reason to worry, getting scammed would be a reason to worry, but not the anonymity thing. I hope that it goes without saying though that you would not do anything non-anonymous on this site and that if you do buy BTC OTC it would be somewhere on the clearnet where anonymity doesn't really exist anyway
Title: Re: How much do you think the bitcoin will go up with the latest 420 sale
Post by: redalloverthelandguyhere on April 20, 2012, 01:54 pm
BTC has not gone up more than 10% of a BTC - its moved a little but nothing that would make anyone but the BTC millionaires any richer.

Wish I was a BTC millionaire.  ;D
Title: Re: How much do you think the bitcoin will go up with the latest 420 sale
Post by: spacewasp on April 21, 2012, 12:01 am
damn!  btc went up 25ยข per coin since I placed my order this afternoon....should have waited!!
Title: Re: How much do you think the bitcoin will go up with the latest 420 sale
Post by: SouthSquareBiz on April 22, 2012, 03:36 am
All I can say is that I deposited one amount at the beginning of the week and now it is $16 more.

I can't do anything with it but spend it to flip it, but for doing nothing, I will take that $16.
Title: Re: How much do you think the bitcoin will go up with the latest 420 sale
Post by: simplyanon on April 22, 2012, 12:42 pm
All I can say is that I deposited one amount at the beginning of the week and now it is $16 more.

I can't do anything with it but spend it to flip it, but for doing nothing, I will take that $16.

Well, if you deposited 120btc, then that 16$ doesn't count as much.

If you deposited 12btc, that 16$ is a decent return.

Either way, 16$ is 16$, I suggest you buy some 25i with it. :D