Silk Road forums

Discussion => Newbie discussion => Topic started by: jeremiah173 on May 01, 2013, 04:18 pm

Title: SR vs. BTC
Post by: jeremiah173 on May 01, 2013, 04:18 pm
Anyone find it strange that just about every single news article about the BTC somehow relates it to a currency that is used primarily for buying items on SR?  Maybe one of these journalists should take note (as well as get their heads out of their asses) that the BTC didn't do anything abnormal over the long period of downtime SR has been experiencing... So, in theory, if the BTC was just about buying drugs on SR, wouldn't we see something out of the ordinary with the activity of the BTC?  I would think so.

Thoughts?
Title: Re: SR vs. BTC
Post by: tree on May 01, 2013, 04:25 pm
I think SR is always mentioned in those articles because it accounts for most of actual bitcoin spending, the other BTCs are mostly used for trading and investing I think. But yeah, the BTCs spent in SR are nothing compared to the BTC used in trading.
Title: Re: SR vs. BTC
Post by: BuysPaper on May 01, 2013, 04:26 pm
Anyone find it strange that just about every single news article about the BTC somehow relates it to a currency that is used primarily for buying items on SR?  Maybe one of these journalists should take note (as well as get their heads out of their asses) that the BTC didn't do anything abnormal over the long period of downtime SR has been experiencing... So, in theory, if the BTC was just about buying drugs on SR, wouldn't we see something out of the ordinary with the activity of the BTC?  I would think so.

Thoughts?

The value does seem to be decreasing somewhat. Although that could just be a further correction after the bubble we just had.
Title: Re: SR vs. BTC
Post by: jeremiah173 on May 01, 2013, 04:41 pm
I think SR is always mentioned in those articles because it accounts for most of actual bitcoin spending, the other BTCs are mostly used for trading and investing I think. But yeah, the BTCs spent in SR are nothing compared to the BTC used in trading.

Exactly.  So why even compare the BTC w/ SR.  Investors are all over the BTC, foreign nations who's currency has gone to sh*t have invested, people trying to play the market, all to your point.  I just hate how SR gets negative press everytime something is posted by mainstream media when, hey wait a minute, to your point BTCs spent in SR are NOTHING compared to the BTC used in trading.


@ BuysPaper - RE: The value does seem to be decreasing somewhat. Although that could just be a further correction after the bubble we just had.

Could be, could be investors playing the BTC, also could be the increase in network hashing difficulty.  On April 17th the difficulty went up 16.96% to 8974296, and then on the 30th it jumped another 12.28% to 10076293 - That could have something to do with it too.  Back to your point, look at a 10-day mtgox chart and look at the roller coaster ride... It's all normal.