Bitcoin Forum
November 20, 2017, 02:21:32 PM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: « 1 [2]  All
  Print  
Author Topic: Silk road impact on BTC price ?  (Read 1095 times)
bytezero
Sr. Member
****
Offline Offline

Activity: 408



View Profile
September 25, 2015, 06:59:50 AM
 #21

Silk road may have impacted the price one way or another, but for me, the major reason why the price isn't doing pretty good is since the Gox incident. Too many people had been in doubt of bitcoin because of that event. Also take into consideration that there are traders who constantly play with the markets every single day.

I wonder why is it too much of a big deal for people to see bitcoin's association with Silk Road when in fact fiat is more heavily used in illegal activities.
The problem with Gox was that an inside bot pumped the price.

I think silk road added value to the coins, for sure, and this created a bubble in the first exchangers that were opened (some are now closed and some owners in prison for selling the coins for people who wanted to buy drugs).

Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1511187692
Hero Member
*
Offline Offline

Posts: 1511187692

View Profile Personal Message (Offline)

Ignore
1511187692
Reply with quote  #2

1511187692
Report to moderator
n2004al
Legendary
*
Offline Offline

Activity: 1008


View Profile
September 25, 2015, 08:09:45 AM
 #22

Silk road may have impacted the price one way or another, but for me, the major reason why the price isn't doing pretty good is since the Gox incident. Too many people had been in doubt of bitcoin because of that event. Also take into consideration that there are traders who constantly play with the markets every single day.

I wonder why is it too much of a big deal for people to see bitcoin's association with Silk Road when in fact fiat is more heavily used in illegal activities.

It's right. People has lost mostly the faith in bitcoin after the bankruptcy of MtGox (mostly because of the extremely going down of the price) but we must remember that the price was pumping exactly from Mt Gox. So the price went in its real value after this bankruptcy. Who has read the news has understand this and has understand even that it was not the fault of bitcoin its going down but of speculators which has "played with it. In this way the faith must be recovered (and according to me mostly it was from the bitcoiners and less from the others).

While about the connection of bitcoin with Silk Road I think that no one remember more it except this thread.
rychallenge
Full Member
***
Offline Offline

Activity: 154



View Profile
September 26, 2015, 01:16:11 AM
 #23

AFAIK after both the busts the price bumped. I think it dropped slightly because of the negative press but then after the publicising of it it went back up a matter of days later. I'm probably mistaken as the memory isn't what it was.
You're right, it dropped to low 70's USD then up to $130USD .... But then not long after gox began pumping
Pages: « 1 [2]  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!