Silk Road forums

Discussion => Newbie discussion => Topic started by: max12345 on April 09, 2013, 07:24 pm

Title: btc PRICE
Post by: max12345 on April 09, 2013, 07:24 pm
Wow this is an all time high 240.00 usd
Title: Re: btc PRICE
Post by: cantharidin on April 09, 2013, 07:30 pm
Well, it's interesting to watch, and very profitable for anyone holding BTC, but it's also a pain in the ass. The BTC market and BTC sellers are swamped and all in upheaval. My personal preference would be for my drug-buying currency to be a little more boring and predictable. I can go speculate on tulips or real estate in Dubai.
Title: Re: btc PRICE
Post by: tree on April 09, 2013, 07:32 pm
Yeah pretty cool if you bought them when they were only around $40, and they keep on rising!  8)
Title: Re: btc PRICE
Post by: Secret_Squirrel on April 09, 2013, 07:37 pm
It is...dare I say it...nuts?
Title: Re: btc PRICE
Post by: max12345 on April 09, 2013, 07:56 pm
BACK  2011 BTC $ 1.90   who knew it would be like this if you had 10000 bitcoins you could retired.
Title: Re: btc PRICE
Post by: BandWThomas on April 09, 2013, 08:04 pm
Its only really got into the main stream media i the past 2-4 weeks, so the rises might continue for sometime yet.
Title: Re: btc PRICE
Post by: Stealth Kr00zer on April 09, 2013, 08:52 pm
It sure is nice that every time I come back the spare change from my last purchase is now enough to make another purchase.

Mining difficulty has been increasing as miners miners have been increasing hashrate using ASICs. Since it's profitable for them, they can reinvest in more equipment, increasing hashrate even further. As this happens difficulty increases to balance it out. This increases the investment needed to begin mining, which makes bitcoins more scarce. Imagine how cheap gold would be if everybody could dig it up in their back yard.

Once the hashrate starts to level off that "scarcity" will level as well, and the BTC price will level out. However once it levels miners will likely want to cash out earnings since they are no longer making money. Additionally, on sites like SR more people will hedge transactions in USD since there will be no benefit in keeping BTC. This could cause BTC to drop, causing more people to cash out. Mining may become unprofitable for some, causing miners to stop mining, and lowering difficulty.

Whether or not BTC crashes will depend upon liquidity. As long as people are still buying BTC for transactions, there should be enough liquidity to maintain confidence. However, if there is not enough liquidity in the market to cover miners and investors selling off then the price will certainly fall drastically.
Title: Re: btc PRICE
Post by: encryptedwave on April 09, 2013, 09:29 pm
I bought 3 BTC when it was $85 because I knew it would rise quite a bit. I made a couple orders and hung on to one for a week and a week and a half and watched the price rise to $130. Since I made $50 just letting it sit there, I cashed it out because I was in need of some cash.

To my demise, the price has risen $70 since then and I would have been better off keeping that BTC rather than scurrying to cash it out. It is very frustrating, but at least I had all my bills paid in time. I just wish all this BTC business hadnt happened at a time where I wasn't on a budget.

Investing takes risk, and I feel my luck would be next time I but some BTC it would drop. But the past 3 weeks hasnt shown any sign it will
Title: Re: btc PRICE
Post by: alagandar on April 09, 2013, 09:30 pm
ya been rising like crzy
Title: Re: btc PRICE
Post by: visionenergy on April 09, 2013, 09:37 pm
I wouldn't expect the prices to stop rising anytime soon.  Everyday someone new is findiing out about sr. and is trying to buy bitcoins.  It's a pretty cool thing to be a part of.  Real freedom of choice.  Of course the governments of the world don't like us to be able to decide what we do to our own bodies so they will surely try to step in.

Hats off to anyone in the fight to keep SR alive and well
Title: Re: btc PRICE
Post by: alagandar on April 09, 2013, 09:38 pm
climbing and climbing
Title: Re: btc PRICE
Post by: SFdirect on April 09, 2013, 09:48 pm
and rising and rising no need for it to stop. If people would just pay more than the previuos, no limit, everyone could be rich, take all the money out of the governments and put into BTC. Let people take care of themselves
Title: Re: btc PRICE
Post by: atomixxx on April 09, 2013, 09:51 pm
wow its rising and rising  ^^
Title: Re: btc PRICE
Post by: georgesdad on April 09, 2013, 10:01 pm
be careful seriously, its growing by word of mouth not value. the rises are directly correlated w media coverage which shows that it isnt tied to value. for example its like a few people in high school think your cool because one cool person said u were, even though your not cool, but because a cool person said you were cool, other cool people will follow and next thing you know everyone thinks you're fucking cool. then someone figures out you're lame and it spreads just as fast. then you couldn't convince a damn sole your cool.

cool=value
Title: Re: btc PRICE
Post by: NewStem on April 09, 2013, 10:07 pm
It's true. I tried to convince a sole I'm cool once, but I couldn't even get it to look straight at me.