Silk Road forums
Market => Rumor mill => Topic started by: John Gotti on June 13, 2013, 04:23 am
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Bitcoins have been to hard to get, too volatile, too expensive. It was so much easier a few months ago. but since the crash it has never been the same.
you can't get them as easily as before. bitinstant, blue sky traders, bitfloor all had your coins in hours. fair rates. now you have to wait at least day day in a volatile market. using these btc for money pak people is roulette. good chance of getting scammed. and if they are legit, charging up to 20%! thats robbery. yes they have to make something, the market isn't stable but we aren't stock brokers. we just want to do commerce.
They are too volatile. you used to feel comfortable buying coins in advance and just sit on them. the market never moved over a dollar a coins in weeks. today you can buy coins and in matter of minutes they can drop $100 a coin in a hour. you can buy coins, wake up and you lost $15 a coin over night.
And it must be hard on vendors. They have the worry of safely cash them out or if they sit on them lose tons of cash.
They are bad for both buyer and seller. if they could just be stable like before. if they were easier and cheaper to buy, if they were more convenient and stable.
Perhaps if there was a system that was protected somehow where a seller could sell their coins to buyers but right now its a gamble.
I dunno..gotta be a better way...
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I can't imagine what vendors have to go through. When I buy something, I deposit my money, transfer to BTC, then deposit into SR in a matter of ~1-2 hours. I never keep my BTC waiting in my wallet, too much of a risk.
Although I would have loved having some Bitcoin in my wallet when the price jumped from ~$20 to ~$100. That would have been a nice investment!
If you're strictly a buyer, I would suggest doing what I do and get from the deposit to purchase in the least amount of time possible.
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I do the same thing kingdedede. Although, sometimes, I have some left over coin from orders. It's almost fun to watch the value go up and down.
OP, I think you exaggerated a bit with how much it fluctuates. Yes, its extremely unpredictable but there are ways to lower risk of losing money such as only getting BTC when you need it. It may be hard to get (I've never had troubles with my method) but keep in mind what its given us and what its allowed us to do! Look around! The shit we're doing is amazing. Keep things in perspective. Thank you "Satoshi Nakamoto".