Silk Road forums
Discussion => Off topic => Topic started by: sabteria14 on November 29, 2012, 03:29 am
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I suspect more people will want more drugs for the holidays and new year. many will also get cash gifts/bonuses to fund their additional drugs
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On a related note, for the sake of purchasing drugs, do BTC rates really matter at this point? Most vendors I've noticed adjust their prices accordingly when BTCs go up or down. I'm also new here, so I could be wrong.
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On a related note, for the sake of purchasing drugs, do BTC rates really matter at this point? Most vendors I've noticed adjust their prices accordingly when BTCs go up or down. I'm also new here, so I could be wrong.
I figured as much (which is such a great aspect of the currency, since speculation effectively has zero effect on the price of things). Curious, though: how long does it take for vendors to adjust prices?
The last time I had an opportunity to speculate on what felt like an emerging bubble I didn't take it and did I ever regret it. The thing about speculation-driven surges is that so long as there are enough like-minded people, it drives the event itself. So it's partly an issue of spotting some underlying value change (here, mining profitability) and partly human psychology. Then your timing has to be good on the back end as corrections can be rough.
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The demand for bitcoins as of late has been increasing as more and more people find out about services like the Silk Road. If you're betting that online drug sites are here to stay, investing in bitcoin therefore seems like a sound strategy. Apart from that, the concept of a decentralized cryptocurrency is something worth fighting for.
If I would have saved all the bitcoins I bought instead of buying drugs, I would have more than doubled my money in 10 month's time. I've since bought a few Casascius coins (https://www.casascius.com/) as a long-term investment strategy, in addition to a few I store online. Hopefully it works out and bitcoin becomes widely adopted, but if not, at least I got a cool souvenir out of it. :)
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On a related note, for the sake of purchasing drugs, do BTC rates really matter at this point? Most vendors I've noticed adjust their prices accordingly when BTCs go up or down. I'm also new here, so I could be wrong.
Most vendors peg their prices to the dollar. I.E., they specify the price in USD and Silkroad will automatically adjust for the current bitcoin rate.
Some vendors peg their prices to bitcoin but this is rare and usually only if they have something that they want to keep at 1 BTC exactly or 0.99 BTC