Silk Road forums
Discussion => Newbie discussion => Topic started by: android465764E on February 03, 2013, 11:58 pm
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WISH I'd bought a load last week when they were at £9.00
Oh well, live and learn. ::)
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agreed
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Jjajajajaja,
I wish I bought some Apple actions 10 years ago....
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Yea i get sicker and sicker everyday watching the exchange rate go higher and higher while my broke ass keeps hoping to get some extra spending money. :-\
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I have a different view to most here about BTC.
From the research i've done there are several key risks inherent in BTC as an investment:
1. Losing the keys to your BTC wallet. You might lose all the backup copies and be unable to access your BTC.
2. A hacker somehow stealing your BTC, no matter how careful you are there is always a small possibility this could happen. If they can create a computer virus to destroy Iran's nuclear reactors they can come up with something to steal your BTC.
3. Someone manages in a couple of years to beat the encryption methods used for BTC, rendering the entire market useless.
4. A superior online currency gets created and the value of BTC plummets.
5. The DEA finds a way to track illegal websites through TOR. Dread Pirate Roberts is arrested and spends the rest of his life in an American prison and all the drug-selling marketplaces are closed down.
Because of these possibilities I have a couple of wallets with about 1000BTC total that I keep as an investment (I brought them at $12 each), but the rest of my BTC I spend on drugs. The profit I make from selling drugs off Silk Road is far higher than the profit I make from holding BTC.
Just my 0.02c
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Yep, prices shot up like crazy. Up like 25% in less than a week.
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Makes me feel all warm and fuzzy buying a bunch the day before the price began to rise.
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I earned $1000 on the price rise. Bought myself some extra goodies to celebrate :)
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Sad that I came a bit too late. :/
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By the way, does anybody can sell BTC if I am paying from SKRILL? I am new to this one, so please explain If that is unsecure or what. :/
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I agree, the rates gone crazy. I've bought some BTC at November, 2011 for approx. 3.5 USD and spent the rest of them at December, 2012. Till December, the rates have grown more (from 12 to 20 USD). Nevertheless, I look at the rates without sorrow, 'cause I've got really great things for that money.
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its all relative......
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As long as they keep being exchangeable for dollars I'm happy. The price isn't relevant as long as i spend them fast. And on SR I do!
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Crazy stuff.. if i could i would invest!
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As long as they keep being exchangeable for dollars I'm happy. The price isn't relevant as long as i spend them fast. And on SR I do!
I tend to agree with this tbh. I just buy coins when I need them, and spend them straight away. If the rate is high at the time, so be it.
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It seems as though many vendors are adjusting there $B prices on products to work against the rise... no?
Still, my intro to bitcoins was a nightmare. Definitely will be trying a new method on the second go.
I suspect $B value will continue to climb as a result in popularity of this site. Would suspect that during a short dip (as soon as $ is available) a large purchase of coins would be the way to go... If value begins to tumble, purchase your goods quickly... my best guess.
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This is the only way for not to loose value, just spend it ASAP!
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As far as I understand it, hoarding coins is counter productive. The more people that hang on to them, the higher the price of the ones that are left. Its not like there is an unlimited supply.
I think it'd be better if everyone just bought what they needed, when they needed it. This will never happen of course, who can resist stocking up on coins when the rates are good? lol Vicious circle.
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Used my BTC right before prices rose...
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Used my BTC right before prices rose...
Lucky boy!
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Can't wait until the next halving day even though it is years away. It will show us what scarcity really is.