Silk Road forums

Discussion => Newbie discussion => Topic started by: PePinJeNek on February 03, 2013, 11:29 am

Title: The reason for the high BTC price.?
Post by: PePinJeNek on February 03, 2013, 11:29 am
This might already been discussed, but I
just wanted to check anyway.

Has anyone thought about a scenario where
LE / goverments would slowly but steady start
to buy up most BTC in the war agains SR?
This way the price goes sky high (like now)
and once they got monoply they could do whatever?
I believe there are only 23 million BTC which should make
it fairly easy if they would keep buying and storing them.

This might not be possible I just wanted to hear other people's opinions.

Cheers
Title: Re: The reason for the high BTC price.?
Post by: msonder on February 03, 2013, 11:42 am
I am new here and watching BTC price changes. Hope it does not make dramatically changes. Anyway, vendors customize their prices according to BTC. If the BTC will grow till 50usd, ofcourse vendors will not sell, for example, 1g weed for 1BTC. Am I wrong?



btw what means LE?
Title: Re: The reason for the high BTC price.?
Post by: GreenAlfalfaBoxes on February 03, 2013, 11:50 am
This is nothing but a conspiracy theory.  There's no doubt that the government has files about the SilkRoad at the FBI and the NSA.  But saying that the government's strategy to fight the SilkRoad is to 'hyper-deflate' the currency that it depends upon is a bit outrageous.  It would be far easier and more effective to have agents trolling the SilkRoad forums and having them spread rumors to make people too paranoid to use the  SilkRoad.  I think when it comes purchasing drugs fear takes precedent over price to a degree.
Title: Re: The reason for the high BTC price.?
Post by: titfortat on February 03, 2013, 11:51 am
All this is possible in the way that anything is possible. But consider the fact that BTC-based markets are becoming more and more popular every day and have been for some time. There has been a verifiable steady stream of people coming into BTC who are using it more and more. Wouldn't it make sense then that price would go up? Don't get me wrong -- the price can and probably has been manipulated to some degree. But is it a vast LE conspiracy? Well, anything is possible but this doesn't strike me as likely at all. Open to hear why you think it's LE and not just the natural market progression though.

btw @msonder - LE = law enforcement. If you/anyone has trouble with the slang on SR, googling it or using urban dictionary will usually do the trick.
Title: Re: The reason for the high BTC price.?
Post by: bolbiggans on February 03, 2013, 02:43 pm
That would be another huge waste of money into the 'war on drugs'.
The deflation would make a lot of btc-investors really rich. And as btc can be used into 0.00000001 it wouldn't be very effective, even in long term.
So, I don't think so
Title: Re: The reason for the high BTC price.?
Post by: martinr on February 03, 2013, 03:30 pm
Sounds like conspiracy but I think they are capable of doing sth. like this.
Title: Re: The reason for the high BTC price.?
Post by: donatto on February 03, 2013, 04:29 pm
Its so fuckin useful that has to have a high value, thats it
Title: Re: The reason for the high BTC price.?
Post by: mdMAGICe on February 03, 2013, 04:35 pm
yes
Title: Re: The reason for the high BTC price.?
Post by: UK Stealth on February 03, 2013, 05:02 pm
Digital Monies is the future soon there will be other named coins i believe.
Title: Re: The reason for the high BTC price.?
Post by: nickthird on February 03, 2013, 05:10 pm
The price of a product you buy at BTC should approach its value in dollars as otherwise people would be less inclined to do business in BTC.
Increase in BTC vs dollar rate shouldn't effect $ prices of BTC services. So its not like the cost of the same thing is now higher in $ (disregarding inflation).

A way to bring BTC down could be for example, to buy a lot of coins then sell all of them at random time intervals,
basically creating massive fluctuations in exchange rate.
This would make it very hard for businesses to asses coin value of services.
Title: Re: The reason for the high BTC price.?
Post by: BluCazz on February 03, 2013, 05:10 pm
My personal theory on high bitcoin prices at the moment is that tax refunds are being sent in the USA, which means people have more disposable income. I think it will fall back down a little in march/april. I'm no expert though.
Title: Re: The reason for the high BTC price.?
Post by: napalm on February 03, 2013, 05:19 pm
A big drop is coming get out while the price is high!  :P

There, now maybe the price will go down when I buy some more.
Title: Re: The reason for the high BTC price.?
Post by: donatto on February 03, 2013, 06:02 pm
A big drop is coming get out while the price is high!  :P

There, now maybe the price will go down when I buy some more.


wtf
Title: Re: The reason for the high BTC price.?
Post by: napalm on February 03, 2013, 06:06 pm
It's all supply and demand. All it would take is one large investor to dump their BTC, some people panic, and price goes down.
Title: Re: The reason for the high BTC price.?
Post by: whythehell on February 03, 2013, 06:24 pm
I check the same product everyday, I never seem to see it fluctuate in BTC price...

hai college can I get mah refund in bitcoins?
Title: Re: The reason for the high BTC price.?
Post by: Immortally on February 03, 2013, 06:29 pm
It's all supply and demand. All it would take is one large investor to dump their BTC, some people panic, and price goes down.
agree I,m not sure about this conspiracy theory.one thing I am certain of my bitcoins are  more worth now :)
Title: Re: The reason for the high BTC price.?
Post by: dex on February 06, 2013, 04:04 pm
S & D
Title: Re: The reason for the high BTC price.?
Post by: terryakichicken on February 06, 2013, 04:13 pm
My opinion on the increase in price is just the general public seeing the progressive growth of bitcoins and investing now while they are still somewhat cheap. Look for a huge jump when the US I.R.S opens the flood gates.
Title: Re: The reason for the high BTC price.?
Post by: ANewLife on February 06, 2013, 04:16 pm
S&D That simple.
Title: Re: The reason for the high BTC price.?
Post by: GreenAlfalfaBoxes on February 07, 2013, 07:36 pm
BTC  may actually become worthless this year.

It's predicted that most of the BTC will be mined during this year (aka peak bitcoin production).  After the peak alot of the miners may abandon ship and cash out on their investments since their mining rigs will no longer produce enough value to justify mining BTC.

We will see though.
Title: Re: The reason for the high BTC price.?
Post by: hugnami on February 07, 2013, 07:47 pm
I think the more news on bitcoin, and more buzinesses accepting it, the more the price will rise.

The bitcoin mining biz will just help make it more crypto secure, and its probably more than
enough room for them to cash out now and then.
Title: Re: The reason for the high BTC price.?
Post by: LocoKnight3 on February 07, 2013, 08:55 pm
deflation