This is the end

[YoYa]

The end huh?

Take your ticket and go to the end of the line buddy:
http://en.wikipedia.org/wiki/List_of_dates_predicted_for_apocalyptic_events

Were bitcoin that vulnerable it would be illegal right now, as it is it's so resilient they are afraid to touch it for fear they legitimize it as a valid dark currency.

Fun times, fucking fun times, grab yer popcorn!

[1713577328]

1713577328

[1713577328]

1713577328

[1713577328]

1713577328

[paraipan]

Everyone who believes this is the end, send me your wallet.dat!

The end huh?

Take your ticket and go to the end of the line buddy:
http://en.wikipedia.org/wiki/List_of_dates_predicted_for_apocalyptic_events

Were bitcoin that vulnerable it would be illegal right now, as it is it's so resilient they are afraid to touch it for fear they legitimize it as a valid dark currency.

Fun times, fucking fun times, grab yer popcorn!

I'l be damn, seems bitcoin manages to crack even the toughest "nuts" 

[mobodick]

why do we put up with punks like this who come out with a FUD post but don't bother to back up other's refutations?  or is he a troll with an agenda?

A troll without an agenda just doesn't take trolling serious enough...

[cypherdoc]

Everyone who believes this is the end, send me your wallet.dat!

The end huh?

Take your ticket and go to the end of the line buddy:
http://en.wikipedia.org/wiki/List_of_dates_predicted_for_apocalyptic_events

Were bitcoin that vulnerable it would be illegal right now, as it is it's so resilient they are afraid to touch it for fear they legitimize it as a valid dark currency.

Fun times, fucking fun times, grab yer popcorn!

I'l be damn, seems bitcoin manages to crack even the toughest "nuts" 

he turned bullish quite some time ago.

[pyromaniac]

If anyone have useless bitcoins or think they are collapsing he can send it to my wallet 1FXAQ1ak1fFUVoi8xuBmTLkpiu3vZNptpj 

[Rassah]

No matter who started it (that piratesomething), and why, but we're facing the end of Bitcoin. I see no way that this crash would stop. It'll go down, below 1$ and no-one will have any interest on mining, or using Bitcoins anymore. So I want to thank you all for these years, we had a good run, but maybe the world was not ready for this yet. Later we can find out what went wrong and maybe some day try again. Thank you, horgh is out. 

Obvious troll is too obvious. Humor fail (unless this is 100% sarcasm).
Plus if we can survive $30 to $2.50, we can survive $15 to $7

[ElectricMucus]

People are just mad there might be a chance to buy coins at 1.5 this year if they already exhausted their entire budget. 

[Elwar]

I wish the price dropped to $1.

But wait about 6 months when I have some big money coming in to buy a buttload of BTC.

Right now I am broke so the only price that matters is if it jumps over $50k/BTC. Then I sell.

[anu]

Plus if we can survive $30 to $2.50, we can survive $15 to $7

The issue is not the price. The issue is vola. Currently, a 20% swing in a few minutes is almost normal. For merchants, this makes Bitcoin the payment system with the highest TX cost, by far. Maybe SR can live with this, but for all other business, Bitcoin is ATM unusable. But even for SR, this is not good.

If someone with deep pockets wanted to kill Bitcoin, this would be the way.

[pyromaniac]

Plus if we can survive $30 to $2.50, we can survive $15 to $7

The issue is not the price. The issue is vola. Currently, a 20% swing in a few minutes is almost normal. For merchants, this makes Bitcoin the payment system with the highest TX cost, by far. Maybe SR can live with this, but for all other business, Bitcoin is ATM unusable. But even for SR, this is not good.

If someone with deep pockets wanted to kill Bitcoin, this would be the way.

SR is not needed for over 99% bitcoin users, other than drug addicts and drug dealers. But you re right, very unstable price is bad for ATMs and normal markets.

[DeathAndTaxes]

SR is not needed for over 99% bitcoin users, other than drug addicts and drug dealers.

You honestly think that less than 1% of Bitcoin users are involved in the SR?   Really?  bitcointalk.org =/= bitcoin.   Hardcore destroy the FED, bitcoin is going to $538,942,343,243.28 in 2 years when it becomes the one world currency =/= all bitcoin users.

Some people actually just use Bitcoin to buy and sell things.  Crazy I know people using a currency for commerce.  The SR is the largest source of commerce involving BTC.   

[morkai421]

"SR is not needed for over 99% bitcoin users"

SR is a large part of btc economy. A part that is actually not about speculation. I don't like junkies, but at least they are using btc the way it should be.

[anu]

"SR is not needed for over 99% bitcoin users"

SR is a large part of btc economy. A part that is actually not about speculation. I don't like junkies, but at least they are using btc the way it should be.

Not everyone who gets some shrooms every other month is a junkie. Not everyone who enjoys a glass of wine in the evening is a drinker.

[pyromaniac]

"SR is not needed for over 99% bitcoin users"

SR is a large part of btc economy. A part that is actually not about speculation. I don't like junkies, but at least they are using btc the way it should be.

Not everyone who gets some shrooms every other month is a junkie. Not everyone who enjoys a glass of wine in the evening is a drinker.

It's offtopic, but the question on this answer is much more difficult than "Yes" or "No". No, medically he isn't addict, but the law is not on his side. Anyway, any illegal uses of bitcoin giving more reasons to goverment to close it.

[Rassah]

"SR is not needed for over 99% bitcoin users"

SR is a large part of btc economy. A part that is actually not about speculation. I don't like junkies, but at least they are using btc the way it should be.

Not everyone who gets some shrooms every other month is a junkie. Not everyone who enjoys a glass of wine in the evening is a drinker.

It's offtopic, but the question on this answer is much more difficult than "Yes" or "No". No, medically he isn't addict, but the law is not on his side. Anyway, any illegal uses of bitcoin giving more reasons to goverment to close it.

You are, of course, referring to the One World Government and/or Illuminati here, right?

[bigasic]

Plus if we can survive $30 to $2.50, we can survive $15 to $7

The issue is not the price. The issue is vola. Currently, a 20% swing in a few minutes is almost normal. For merchants, this makes Bitcoin the payment system with the highest TX cost, by far. Maybe SR can live with this, but for all other business, Bitcoin is ATM unusable. But even for SR, this is not good.

If someone with deep pockets wanted to kill Bitcoin, this would be the way.

SR is not needed for over 99% bitcoin users, other than drug addicts and drug dealers. But you re right, very unstable price is bad for ATMs and normal markets.

Have to remember, that vendors on that silk road can hedge their btc to protect themselves against swings like this...I think it only costs them 4 percent or so, (been a long time since i read a thread over there, maybe its changed by now, but at least thats the way it was a couple months ago)

AR

[anu]

Have to remember, that vendors on that silk road can hedge their btc to protect themselves against swings like this...I think it only costs them 4 percent or so, (been a long time since i read a thread over there, maybe its changed by now, but at least thats the way it was a couple months ago)

AR

Sure you can always do something. 4% sounds OK. But you also have to learn how to hedge and then hedge the deals. Does your time have no value?

[anu]

but the law is not on his side.

This is really one of the most stupid arguments I have ever heard. The law is not on the side of every single victim of the law. The law is not on the side of Pussy Riot or Assange. It was not on the side of Geronimo and it is not on the side of Salman Rushdie. The law was not on the side of the Jews, it was on the side of the Nazis.

Exactly what is the law doing when whipping a wine drinker bloody or jailing a fan of shrooms?

[notme]

Have to remember, that vendors on that silk road can hedge their btc to protect themselves against swings like this...I think it only costs them 4 percent or so, (been a long time since i read a thread over there, maybe its changed by now, but at least thats the way it was a couple months ago)

AR

Sure you can always do something. 4% sounds OK. But you also have to learn how to hedge and then hedge the deals. Does your time have no value?

I'm not positive since I'm not a user/seller of SR, but I've heard that the hedging is a built in functionality.  The 4% you pay is so you don't have to learn to do it yourself.

[DeathAndTaxes]

Have to remember, that vendors on that silk road can hedge their btc to protect themselves against swings like this...I think it only costs them 4 percent or so, (been a long time since i read a thread over there, maybe its changed by now, but at least thats the way it was a couple months ago)

AR

Sure you can always do something. 4% sounds OK. But you also have to learn how to hedge and then hedge the deals. Does your time have no value?

I'm not positive since I'm not a user/seller of SR, but I've heard that the hedging is a built in functionality.  The 4% you pay is so you don't have to learn to do it yourself.

That is my understand as well just remember hedging simply transfers the volatility risk to someone else (in this case the site operator and/or backers providing the hedging).  If volatility increases the risk increases and either they are forced to stop offering it or charging more.   No matter who is doing the hedging volatility costs users who are using Bitcoin as a payment mechanism.  More volatility = higher costs and lower value/utility.