Silk Road forums

Discussion => Newbie discussion => Topic started by: instagram on April 12, 2013, 01:07 am

Title: BitCoin Bullshit
Post by: instagram on April 12, 2013, 01:07 am
These bit coins sound great and all but honestly this sucks for a new person, especially today. I saw prices at 200USD for 1 bitcoin.... then a few hours later its $80USD for 1 Bitcoin. I have been reading reports on it etc... maybe there is an answer to why this is the only way i can pay for some good bud, but its just bud I need someone who will work with me. I read the rules when I signed up today, i see they warn vendors and buyers that going outside of this escrow system is bad. But this escrow system sucks if it relies on a inconsistent currency.

Obviously im all e-raged out right now, but if anyone can at a minimum give me some advice i would appreciate it. Im not looking for anything sketch, just want some good bud for cheap. Message me.
Title: Re: BitCoin Bullshit
Post by: Widd3rshins on April 12, 2013, 01:20 am
Dude, escrow has nothing to do with the price of bitcoin or what you are complaining about.

This has nothing to do with BTC itself, just the exchanges for BTC getting ddosed and just fucking sucking in general. Especially mt. gox. 

I would wait a week or however long till btc stabilizes to buy bitcoins.

You might want to check out localbitcoins.com (clearnet link, dont visit on tor).   Thats a really cheap and good way to buy btc, especially now.

See what blueskytraders is trading bitcoin for right now.  THey have a SR vendor page, but they operate off of a .onion url.

Buying bitcoin sucks right now, I feel your pain, but do some more research and you might feel better.

Back to escrow.  Escrow is THE ONLY thing that protects the buyers money on SR.   vendor ship you a package, you get it, then get on SR and release your money on SR to the vendor.

 Most vendors HEDGE their orders, meaning they can hedge the price to USD, not fluctuation btc, so that when they get the money (or you get refunded) it is equivalent btc's to that USD amount.  (not a clear explanation, but its the best i got).

In the settings for your SR account, you can change prices to USD if you didnt know. Prices dont fluctuate with btc.
Title: Re: BitCoin Bullshit
Post by: Jung78 on April 12, 2013, 01:52 am
Dude, escrow has nothing to do with the price of bitcoin or what you are complaining about.

This has nothing to do with BTC itself, just the exchanges for BTC getting ddosed and just fucking sucking in general. Especially mt. gox. 

I would wait a week or however long till btc stabilizes to buy bitcoins.

You might want to check out localbitcoins.com (clearnet link, dont visit on tor).   Thats a really cheap and good way to buy btc, especially now.

See what blueskytraders is trading bitcoin for right now.  THey have a SR vendor page, but they operate off of a .onion url.

Buying bitcoin sucks right now, I feel your pain, but do some more research and you might feel better.

Back to escrow.  Escrow is THE ONLY thing that protects the buyers money on SR.   vendor ship you a package, you get it, then get on SR and release your money on SR to the vendor.

 Most vendors HEDGE their orders, meaning they can hedge the price to USD, not fluctuation btc, so that when they get the money (or you get refunded) it is equivalent btc's to that USD amount.  (not a clear explanation, but its the best i got).

In the settings for your SR account, you can change prices to USD if you didnt know. Prices dont fluctuate with btc.

Honestly with the market fluctuation let me be 100% with you, wait a few days before you invest in any BTC. They may drop down to $1 like they did a few years ago , who knows. Better to wait until BTC is stable in a few days then buy again.

Title: Re: BitCoin Bullshit
Post by: kingleo881 on April 12, 2013, 02:29 am
If you want to buy 200 worth of bud just go through bitfloor. You deposit like 205 and when you get home from the bank your bitcoins are in your wallet. just spend them asap so you won't see them drop too far.
Title: Re: BitCoin Bullshit
Post by: aginalda on April 12, 2013, 03:44 am
Maybe you could start a small bitcoin business to generate coins for your drugs.
Title: Re: BitCoin Bullshit
Post by: Logic on April 12, 2013, 03:51 am
I feel bad for the vendors who are getting fucked right now.
Title: Re: BitCoin Bullshit
Post by: dimmu on April 12, 2013, 04:03 am
It was fun watching your buying power rise.....now I'm left with pennies.
Title: Re: BitCoin Bullshit
Post by: GaryBusey on April 12, 2013, 08:35 am
I feel bad for the vendors who are getting fucked right now.

As long as the order is hedged and the vendor cashes out his coins quickly then nobody should be getting fucked around here.
Title: Re: BitCoin Bullshit
Post by: fatsam on April 12, 2013, 09:19 am
its such a ball ache, so I have bitcoins worth over £500 and now theyre worth half of that, I should have cashed out quick
Title: Re: BitCoin Bullshit
Post by: SunWu on April 12, 2013, 09:38 am
Lost serious money to the fall in BTC but i have confidence it will rebound, a crash in healthy if we hold strong Spartans and help to build it back up again :) 
Title: Re: BitCoin Bullshit
Post by: fatsam on April 12, 2013, 09:40 am
FRICKIN A!

50th post

see ya later suckers  :P
Title: Re: BitCoin Bullshit
Post by: PathSeeker on April 12, 2013, 10:30 am
localbitcoins.com (clearnet link, dont visit on tor)

Um, you mean clearnet warning, don't visit on ANYTHING BUT tor.  ;)  Tor is safest.  If you go visiting clearnet links on your clearweb browser, then you're liable to get your ass phished.  These forums are crawling with LE and they can lure people to go to their links.  They may not know what user you are (unless of course they pm you a unique link), but they'll know you got the link here if it's the only place they ever posted it...
Title: Re: BitCoin Bullshit
Post by: Papydoll on April 12, 2013, 10:49 am
like a newbie I buyed bitcoin at the wrong time, expensive lesson  :-\
Title: Re: BitCoin Bullshit
Post by: BatCoin on April 12, 2013, 10:56 am
We're back to prices a few weeks ago, not panic.
Within weeks the price will stabilize, the barrier of $ 80 did not go down because it shall cease to be profitable generate coins.

Bitcoin market is very shallow and therefore very volatile. At some point we will see $ 200, maybe a month, maybe in 6 months, here...which scares...lost.
Title: Re: BitCoin Bullshit
Post by: Phineas Finn on April 12, 2013, 01:04 pm
Personally, I find the instability of the Bitcoin market the only unpleasant thing about using SR. I've approached SR the way I would approach Vegas -- I don't invest more than I'm prepared to lose.
Title: Re: BitCoin Bullshit
Post by: envioso on April 12, 2013, 01:13 pm
you guys should just be happy you aren't vendors. alot of us just LOST alot of money to sell you all drugs.