Silk Road forums

Discussion => Security => Topic started by: blacksmith on July 06, 2013, 11:22 pm

Title: Is it a good time to buy BTC right now since BTC value has gone down?
Post by: blacksmith on July 06, 2013, 11:22 pm
probably a stupid question, but is right now a good time to buy BTC since the prices are low? if i buy them now then the value would probably go up, leaving me with more money right?
Title: Re: Is it a good time to buy BTC right now since BTC value has gone down?
Post by: Rastaman Vibration on July 06, 2013, 11:34 pm
Hard to say. Who knows what the Bitcoin markets will do. Its a risky investment, so don't invest any money you are not prepared to lose
Title: Re: Is it a good time to buy BTC right now since BTC value has gone down?
Post by: zxydwx3 on July 06, 2013, 11:52 pm
I say it depends what you are doing with the BTC. If you are investing them in some securities or bonds that pay interest or dividends, then buying when the price is down a bit is a good idea IMO. If you're just buying them to hold and hope the price goes up, I'd be very cautious. I wouldn't take any financial advice from someone like me though, you can count on that!
Title: Re: Is it a good time to buy BTC right now since BTC value has gone down?
Post by: phalNOP on July 07, 2013, 12:18 am
probably a stupid question, but is right now a good time to buy BTC since the prices are low? if i buy them now then the value would probably go up, leaving me with more money right?

If history repeats itself (as it tends to happen), then yes.
Title: Re: Is it a good time to buy BTC right now since BTC value has gone down?
Post by: kennypowders on July 07, 2013, 12:57 am
Yeah man! Put $20,000 in, GUARANTEED RETURNS MY MAN!
Title: Re: Is it a good time to buy BTC right now since BTC value has gone down?
Post by: mcguire39 on July 07, 2013, 01:16 am
It seems to have some support around $65 so maybe it won't dip too much more.  But who knows, it's volatile because the buy orders at that price are pretty small volume.
Title: Re: Is it a good time to buy BTC right now since BTC value has gone down?
Post by: GGGreenbud on July 07, 2013, 02:19 am
The only way I could see Bitcoin going above 120 by the end of the summer, is if the Chinese miners and the US investors do some kind of pump-n-dump.  The new Winklevoss fund is hedging their investment by short selling and other techniques, but ultimately the chinese will own the supply of new coins.   I think the whole privacy/NSA thing will definitely spark more people's interest, even if it's just for peace of mind.  I really hate having credit agencies spying on everything I buy, I thought other people felt the same way, but I guess not as many as we'd hoped.  We are in the wild west here, but no one wants this to fail, that won't happen.
Title: Re: Is it a good time to buy BTC right now since BTC value has gone down?
Post by: Red Rover on July 07, 2013, 02:35 am
Perhaps I'm mistaken, but I was under the impression that the number of bitcoins in your account does not stay constant; only the amount of money you invested in them does.

For example, say that today, 1.0 BTC is worth $50 USD.  You buy 4.0 BTC for $200.  Two weeks later, 1.0 BTC is worth $100.  You won't still have 4.0 BTC -- which is now worth $400 -- in your account.  Instead, now you'll only have 2.0 BTC, because that's how many BTC $200 buys you today. 

In other words, if you bought $200 worth of bitcoins, you will always have $200 worth of bitcoins.  Two hundred dollars worth of bitcoins might amount to 4.0 bitcoins today, but tomorrow it might amount to only 2.0 bitcoins.

SR prices seem to automatically fluctuate to reflect the current BTC exchange rate, anyway.  At the moment, half a gram of a certain illicit substance might cost 0.8 BTC, but in a few hours, it might cost 0.88 BTC.
Title: Re: Is it a good time to buy BTC right now since BTC value has gone down?
Post by: Jack N Hoff on July 07, 2013, 02:55 am
Perhaps I'm mistaken, but I was under the impression that the number of bitcoins in your account does not stay constant; only the amount of money you invested in them does.

For example, say that today, 1.0 BTC is worth $50 USD.  You buy 4.0 BTC for $200.  Two weeks later, 1.0 BTC is worth $100.  You won't still have 4.0 BTC -- which is now worth $400 -- in your account.  Instead, now you'll only have 2.0 BTC, because that's how many BTC $200 buys you today. 

In other words, if you bought $200 worth of bitcoins, you will always have $200 worth of bitcoins.  Two hundred dollars worth of bitcoins might amount to 4.0 bitcoins today, but tomorrow it might amount to only 2.0 bitcoins.

SR prices seem to automatically fluctuate to reflect the current BTC exchange rate, anyway.  At the moment, half a gram of a certain illicit substance might cost 0.8 BTC, but in a few hours, it might cost 0.88 BTC.

You have it all backwards pal.
Title: Re: Is it a good time to buy BTC right now since BTC value has gone down?
Post by: fartsinthewind on July 07, 2013, 03:10 am
Perhaps I'm mistaken, but I was under the impression that the number of bitcoins in your account does not stay constant; only the amount of money you invested in them does.

For example, say that today, 1.0 BTC is worth $50 USD.  You buy 4.0 BTC for $200.  Two weeks later, 1.0 BTC is worth $100.  You won't still have 4.0 BTC -- which is now worth $400 -- in your account.  Instead, now you'll only have 2.0 BTC, because that's how many BTC $200 buys you today. 

In other words, if you bought $200 worth of bitcoins, you will always have $200 worth of bitcoins.  Two hundred dollars worth of bitcoins might amount to 4.0 bitcoins today, but tomorrow it might amount to only 2.0 bitcoins.

SR prices seem to automatically fluctuate to reflect the current BTC exchange rate, anyway.  At the moment, half a gram of a certain illicit substance might cost 0.8 BTC, but in a few hours, it might cost 0.88 BTC.

You have it all backwards pal.

Spot on, my man. I wouldn't buy btc for any other reason than to trade right now. Wouldn't use them for any other purpose.
Title: Re: Is it a good time to buy BTC right now since BTC value has gone down?
Post by: Lorimer on July 07, 2013, 03:22 am
Perhaps I'm mistaken, but I was under the impression that the number of bitcoins in your account does not stay constant; only the amount of money you invested in them does.

For example, say that today, 1.0 BTC is worth $50 USD.  You buy 4.0 BTC for $200.  Two weeks later, 1.0 BTC is worth $100.  You won't still have 4.0 BTC -- which is now worth $400 -- in your account.  Instead, now you'll only have 2.0 BTC, because that's how many BTC $200 buys you today. 

In other words, if you bought $200 worth of bitcoins, you will always have $200 worth of bitcoins.  Two hundred dollars worth of bitcoins might amount to 4.0 bitcoins today, but tomorrow it might amount to only 2.0 bitcoins.

SR prices seem to automatically fluctuate to reflect the current BTC exchange rate, anyway.  At the moment, half a gram of a certain illicit substance might cost 0.8 BTC, but in a few hours, it might cost 0.88 BTC.

Other way around.

You loaded BTC, not USD, into your SR wallet. It doesn't matter what the BTC were worth when you loaded your wallet - if you loaded 2 BTC when they were worth $100, you'll always have 2 BTC, regardless of whether the price goes up to $130 or sinks to $70. (You can see this if you look at your wallet balance in BTC or choose another currency: if it's BTC it'll stay steady & if it's another currency it'll fluctuate as the value of BTC fluctuates.)

Vendors can peg their prices to BTC or to a (now decently long) list of currencies, so whether or not the price of product seems to change depends on whether the vendor has set the price using BTC or another currency.

Title: Re: Is it a good time to buy BTC right now since BTC value has gone down?
Post by: kennypowders on July 07, 2013, 04:40 pm
Wow Red Rover. FUCKING WOW.

How did you make it this far?
Turn around and go home. Holy fucking shit were you off the mark, kid. I can't fucking believe you wasted ten minutes typing out that delusional bullshit.

Fantasmic!

With a kiss,
Ken Powd