Silk Road forums

Discussion => Security => Topic started by: wonder on October 25, 2011, 02:27 am

Title: BTC Keeps Losing Value
Post by: wonder on October 25, 2011, 02:27 am
 I've read quite a few articles in the past couple of days about the imminent demise of the bitcoin. I was just wandering what we're going to do if it never recovers, and completely implodes. Are there any other methods for anonymous payment? Would SR survive? Could it be that LE doesn't even care about SR, because they know that our currency is dying?
Title: Re: BTC Keeps Losing Value
Post by: hairyballs on October 25, 2011, 04:16 pm
Tell me about it ...

Though I have been told by a couple of people recently that BTC was/is in a bubble, and that I can only blame myself for trading at that time.

The only thing to do is wait for the rate to (hopefully) level off and take it from there, i guess...

It's all a gamble, but I (and many of us here) still have a lot of faith in the BTC. So hang in there, and take the chance...
Title: Re: BTC Keeps Losing Value
Post by: Diamond on October 25, 2011, 08:23 pm
This actually brings up a newbie question for me, seeing the recent drops in BTC conversion and the "sky is falling" reports on the tech blogs about "implosion." (http://arstechnica.com/tech-policy/news/2011/10/bitcoin-implodes-down-more-than-90-percent-from-june-peak.ars)

Looks like a pretty classic investment bubble to me. There was no way it was really worth that much. That's how it stands as an investment platform.

But as I understand it, BTC was never really meant to be an investment medium, but a real time exchange medium. And it's a decentralized protocol. So as long as people choose to use to as an exchange (for the advantages we see on SR and other sites), it won't go away.

Am I wrong there? It can't be "shut down" and as long as there is a community that values what it offers, it will be useful for purchase.
Title: Re: BTC Keeps Losing Value
Post by: phubaiblues on October 25, 2011, 09:30 pm
Yep: kind of like this site itself, it's an all new form of doing commerce.  Ever since 'real' money quit being based upon anything tangible, 'money' has been very hard to define.  And the huge rise...then fall...just show our wariness.  But I think it's calming down, somewhere between 2 and 3 dollars...but what's a dollar worth?  It's not based on anything real either...time will come, world gets crazy enough, btc--and gold--and a shotgun-- will be real handy to own.  And most of us hate the bounces, but this whole site is possible because of btc...without it, we'd just have another lame dopesite.