Silk Road forums

Discussion => Silk Road discussion => Topic started by: connoisseur on March 06, 2013, 05:23 pm

Title: The reason for BTCs surge
Post by: connoisseur on March 06, 2013, 05:23 pm
BTC become mainstream. Nice to see them tumbling into my account, allowing me more purchases  :P

Clearnet:
http://www.businessinsider.com/reason-behind-bitcoin-surge-2013-3
Title: Re: The reason for BTCs surge
Post by: masterblaster on March 06, 2013, 09:35 pm
So the reason BTC is surging is because the japanese mtgox has a US partner to manage operations there, which would bring

Quote
faster deposit and withdrawal times, easier-to-reach customer service, and better access for United States financial markets, market makers and liquidity providers

And yet

Quote
That’s a big thing potentially, because now we’re talking about a real US bank with all the AML and KYC regulations that will make Bitcoin much more relevant for legitimate transactions.

This is the exact opposite reason people want to use bitcoin. Thats a great cover, but only speculators will benefit.
Title: Re: The reason for BTCs surge
Post by: jnemonic on March 06, 2013, 10:41 pm
Its crazy, my balance has grown by $22. I could buy a gram of molly and it would only cost $3. :P

They will drop in price by Sat or Sun i'd say...
Title: Re: The reason for BTCs surge
Post by: someoneelse87 on March 06, 2013, 11:54 pm
They will drop in price by Sat or Sun i'd say...
Why do you say that? I know this is roughly what happened last time but are the reasons for the rise the same? Has these been a pattern to fall over the weekend?

I'm stoked! Been watching my balance grow hourly. I depo'd a heap of coin on Monday for an order I havn't placed yet as I'm waiting to see what happens with other situations... Sooo... I brought .5g local molly yesterday and some script pills & I still have more left than I deposited :) But if it's agreed that the price will likely fall on the weekend, should I get all shopping spree tomorrow afternoon?
Title: Re: The reason for BTCs surge
Post by: incognito22 on March 06, 2013, 11:58 pm
i depositted $123 on thursday or friday and have made a $22 purchase and now i have about $150 lol its fricking crazy
Title: Re: The reason for BTCs surge
Post by: jnemonic on March 07, 2013, 12:08 am
I'd buy now, prices are starting to fall again, they have dropped 20c.

I'm wanting to buy now, but SR is major lag right now.
Title: Re: The reason for BTCs surge
Post by: Hash on March 07, 2013, 12:15 am
They've dropped from a High of 49.00 to 38.9 right now.
Should I be ditching my coins?
Title: Re: The reason for BTCs surge
Post by: incognito22 on March 07, 2013, 12:15 am
I'd buy now, prices are starting to fall again, they have dropped 20c.

I'm wanting to buy now, but SR is major lag right now.
If u look at the chart they have gone down at moments then shoot right back up.  I want to buy something too to be safe...not gonna spend all my coins but might spend about half but SR has been down for me. 


I have my doubts that they won't keep rising but I can't wait forever to buy stuff
Title: Re: The reason for BTCs surge
Post by: Hash on March 07, 2013, 12:25 am
Add this to your torbrowser's BookMarks Toolbar

This is a clearnet site but it works well through tor also.
http://preev.com/

Its a Bitcoin to USD converter which constantly updates from Mt.Gox's current price.
You can keep a TOR tab open with this page and the tab Label will tell you the current price of 1 BTC.
Or if you want you can change it from 1 to 120 BTC... and it will tell you the current value of 120BTC.
Its nice to be able to watch the price while you're surfing the road and forum.
Its also way better than using your Computer's Calculator program and the Multiply button.

check it out.
Title: Re: The reason for BTCs surge
Post by: incognito22 on March 07, 2013, 12:39 am
Bitcoins are PLUMMETING but the value is still fairly on Silk Road.  Definitely buying right now....GRRRR Sr is so slow right now.
Title: Re: The reason for BTCs surge
Post by: jnemonic on March 07, 2013, 12:53 am
I know its very slow. I just went to make an order, and the vendors PGP key is missing, couldnt believe it.
Has taken me over 30mins to get this order done. Messaged vendor, that took 5mins...while the whole time my balance is slowly shrinking..
Title: Re: The reason for BTCs surge
Post by: Hash on March 07, 2013, 12:54 am
So far... not sayin this wont change. But i've been watching a product I have in mind and It's USD value has stayed within 10 dollars.
You're prolly not gonna end up with a 70 dollar bag of something for 5 dollars.
But good luck to you.
Title: Re: The reason for BTCs surge
Post by: masterblaster on March 07, 2013, 12:55 am
Ha, going down down down down down to $35,  dont matter though cause niggers gonna place sell orders till they drive it down then theyre gonna buy at sub30 and fuck the price back up. whole market is being gamed by some wallstreet mba dickheads.
Title: Re: The reason for BTCs surge
Post by: Hash on March 07, 2013, 12:57 am
I know its very slow. I just went to make an order, and the vendors PGP key is missing, couldnt believe it.
Has taken me over 30mins to get this order done. Messaged vendor, that took 5mins...while the whole time my balance is slowly shrinking..

No you're balance is not shrinking.
Your vendors... if they are good vendors, have their product prices tied to BTC-USD value.
Your product prices are about to jump up in BTC price now.
But in relation.. your Balance value went down... but the price of the products you want also changed.
But the prices will be changed in a way in which your product still costs the same USD as it did yesterday.
The only people losing money are vendors right now.
If you're sitting on assloads of coin hoping the value was going to keep going.
Buyers aren't losing anything and will not lose anything.
Just chill.
Title: Re: The reason for BTCs surge
Post by: Hash on March 07, 2013, 12:58 am
Ha, going down down down down down to $35,  dont matter though cause niggers gonna place sell orders till they drive it down then theyre gonna buy at sub30 and fuck the price back up. whole market is being gamed by some wallstreet mba dickheads.

Yes it did just go down... and also notice that something that just cost 2.49 BTC now costs 2.53BTC
Why are people having problems understanding that they aren't gonna pay extra for drugs?
Title: Re: The reason for BTCs surge
Post by: incognito22 on March 07, 2013, 01:01 am
Woo I got 2 orders in.  4 grams of weed and 10 tabs of Acid

They keep dropping I wonder if it'll go up again.
Title: Re: The reason for BTCs surge
Post by: masterblaster on March 07, 2013, 01:06 am
SR priced BTC at 44.68 a few minutes ago, now its priced at 43.97. Gox 24hour avg is at 45.18


SR DOES NOT USE MT GOX 24HR AVG. SR IS HEAVILY WEIGHTED ON RECENT TRENDS.
Title: Re: The reason for BTCs surge
Post by: masterblaster on March 07, 2013, 01:12 am
price is now at 43.63.
Title: Re: The reason for BTCs surge
Post by: caerus on March 07, 2013, 01:14 am
And now it's at 35 ???
Title: Re: The reason for BTCs surge
Post by: Hash on March 07, 2013, 01:25 am
Woo I got 2 orders in.  4 grams of weed and 10 tabs of Acid

They keep dropping I wonder if it'll go up again.

The only way you could have gotten drugs real cheap due to bitcoin price falling would be if a vendor was not Hedged, and did not notice the price flux... so what you've done is take money from his pocket.
And you're proud of this.
Title: Re: The reason for BTCs surge
Post by: masterblaster on March 07, 2013, 01:31 am
And now it's at 35 ???

Thats just the most recent mtgox price, SR price can be determined by dividing $500 by the sellers bond requirement.
Title: Re: The reason for BTCs surge
Post by: masterblaster on March 07, 2013, 01:36 am
Woo I got 2 orders in.  4 grams of weed and 10 tabs of Acid

They keep dropping I wonder if it'll go up again.

The only way you could have gotten drugs real cheap due to bitcoin price falling would be if a vendor was not Hedged, and did not notice the price flux... so what you've done is take money from his pocket.
And you're proud of this.

Hedging is pointless if SR updates its fucking price every other minute.
Title: Re: The reason for BTCs surge
Post by: caerus on March 07, 2013, 01:38 am
And now it's at 35 ???

Thats just the most recent mtgox price, SR price can be determined by dividing $500 by the sellers bond requirement.

Well, I don't sell my coins on SR...
Title: Re: The reason for BTCs surge
Post by: jnemonic on March 07, 2013, 01:46 am
Couldnt even take advantage of the price hike, SR has been that slow, it took me nearly an hour to get the product in my cart, once i had it, the product sold out.

What a joke. :'(
Title: Re: The reason for BTCs surge
Post by: CallmeBruce on March 07, 2013, 01:50 am
No matter the reason, I think that the price will fluctuate but continue to rise in the long run. That is for a couple of reasons. 1. The maximum number of bitcoins is finite while the market for their use is growing. I think that in the not too distant future we will see prices listed in mBTC 2. Its a really cool way to manage currency, I wish more non SR retailers would have a bitcoin option.
Title: Re: The reason for BTCs surge
Post by: MDUK on March 07, 2013, 01:52 am
Couldnt even take advantage of the price hike, SR has been that slow, it took me nearly an hour to get the product in my cart, once i had it, the product sold out.

What a joke. :'(
It's been beyond a joke really. I've had a couple of people who wanted to order from me on here that've gone over to BMR and placed orders there instead because they simply couldn't get access.

As for BTC's price movements... It was obviously a bubble - if anyone can look at the 6 month chart and tell me it's not they're fucking retarded.

People in the BTC market as speculators are just dumb. They make the same mistakes over and over and over and over.

I think the long term prospects are pretty good (largely because of sites like SR/BMR), but 110% month-on-month increase = correction incoming. It's not rocket science.
Title: Re: The reason for BTCs surge
Post by: jnemonic on March 07, 2013, 02:04 am
Thats a shame MDUK, i had to go through another vendor also, i actually got ChemicalSisters to start using mylar bags also, so you guys who have just ordered will be the lucky recipients of mylar bag wrapped goodies. :P

Trying to load your vendor page mduk, might come back in 30mins.... :-\
Damn its slow.
Title: Re: The reason for BTCs surge
Post by: masterblaster on March 07, 2013, 03:04 am
SR rate is now at 43.21, gox at 43.74, if youre a seller then youre getting fucked by half a point post sale. Thanks DPR for you're shitty algo's.
Title: Re: The reason for BTCs surge
Post by: MDUK on March 07, 2013, 03:26 am
SR rate is now at 43.21, gox at 43.74, if youre a seller then youre getting fucked by half a point post sale. Thanks DPR for you're shitty algo's.
I think I speak for plenty of other sellers here when I say:

1-I don't care.
2-It's a 24h moving average, much better than something more short term.
3-I don't care.
Title: Re: The reason for BTCs surge
Post by: lefthandspinner on March 07, 2013, 04:08 am
Hedging is pointless if SR updates its fucking price every other minute.
[/quote]

ohh dear another who dosnt understand  shit

if i buy while bits are 40 with 10 coins it takes 2 weeks to get to me and bits are 5 when i finalize the seller gets paid 10 coins worth 5 if he hedged he gets 80 coins

.yes even when sr update regulary if they do

hedging is pointlless if its never goin to be volitile but it is

if u think they will go up in value dont hedge if u think down /or u dont want to risk hedge .non hedgers will be laughing from the sales last week being finalized now
Title: Re: The reason for BTCs surge
Post by: jnemonic on March 07, 2013, 04:14 am
Funny how as soon as BTC's stopped dropping in price, SR was back to normal, zero lag.

While the coins were falling, it took me over 2 hours to place 2 orders. Its like it was done on purpose, weird.
Title: Re: The reason for BTCs surge
Post by: masterblaster on March 07, 2013, 04:27 am
Quote
Hedging is pointless if SR updates its fucking price every other minute.

ohh dear another who dosnt understand  shit

if i buy while bits are 40 with 10 coins it takes 2 weeks to get to me and bits are 5 when i finalize the seller gets paid 10 coins worth 5 if he hedged he gets 80 coins

.yes even when sr update regulary if they do

hedging is pointlless if its never goin to be volitile but it is

if u think they will go up in value dont hedge if u think down /or u dont want to risk hedge .non hedgers will be laughing from the sales last week being finalized now

no hedging is pointless because it only applies to transactions not to all money sitting in SR. Theres still too much risk on either side of the transaction.
Title: Re: The reason for BTCs surge
Post by: masterblaster on March 07, 2013, 05:29 am
SR at 43.04 gox at 43.01. We need another rise.
Title: Re: The reason for BTCs surge
Post by: incognito22 on March 07, 2013, 06:18 am
Woo I got 2 orders in.  4 grams of weed and 10 tabs of Acid

They keep dropping I wonder if it'll go up again.

The only way you could have gotten drugs real cheap due to bitcoin price falling would be if a vendor was not Hedged, and did not notice the price flux... so what you've done is take money from his pocket.
And you're proud of this.
I think you misinterpreted my post.
Title: Re: The reason for BTCs surge
Post by: tape dispenser on March 07, 2013, 06:40 am
Damn you lucky mofo.  I've got an unhedged order in escrow right now and I wish it would no show & I could get a refund before BTC crashes again but that's not going to happen :(