Silk Road forums

Discussion => Silk Road discussion => Topic started by: 16384 on November 15, 2012, 03:19 am

Title: SR Downtime Has Little Effect on Bitcoin Price. Anyone know why?
Post by: 16384 on November 15, 2012, 03:19 am
Isn't SR the majority of where Bitcoins are? Shouldn't the place a lot of Bitcoins being shut down for nearly a week have a big effect on the price of Bitcoins?
Title: Re: SR Downtime Has Little Effect on Bitcoin Price. Anyone know why?
Post by: ttd on November 15, 2012, 03:23 am
I don't think SR matters nearly as much as people seem to insist it does.
Title: Re: SR Downtime Has Little Effect on Bitcoin Price. Anyone know why?
Post by: bincofone on November 15, 2012, 04:16 am
Bitcoins are excellent at moving money across international borders no matter what they are for (even legal activities, it's much cheaper fee wise than PayPal!). Given that silk road is a piss in the ocean compared to organised crime ventures (massive baking scams, moving cash from CCs) I doubt the market would've noticed much effect.

Just look at how much cash gets moved around in a 10 minute bitcoin block (of course some of that will be mixing, but there are some big single transactions going on too) and you'll see how tiny SR is in the grand scheme of bitcoin.
Title: Re: SR Downtime Has Little Effect on Bitcoin Price. Anyone know why?
Post by: 16384 on November 15, 2012, 04:25 am
But what is the network volume for SR on a basis of Bitcoin days destroyed? I think it is inaccurate to measure the network volume in number of times the Bitcoins change wallets because a lot of it is one person (or program/tumbler) is sending Bitcoins to itself at another address.
Title: Re: SR Downtime Has Little Effect on Bitcoin Price. Anyone know why?
Post by: BenCousins on November 15, 2012, 09:02 am
Finally some logic around here