Bitcoin Forum
December 17, 2018, 08:54:26 PM *
News: Latest Bitcoin Core release: 0.17.0 [Torrent].
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: Have people stopped buying drugs on silk road due to price of BTC?  (Read 2666 times)
Aztec
Newbie
*
Offline Offline

Activity: 56
Merit: 0



View Profile
April 08, 2013, 09:22:08 PM
 #1

All hypothetical of course.

Due to the high price of bitcoin, will that affect the silk road? Will people turn to different markets that deal with "proper" money [ducks and runs for cover] and hoard their BitCoin causing deflation?

Are there any figures?
1545080066
Hero Member
*
Offline Offline

Posts: 1545080066

View Profile Personal Message (Offline)

Ignore
1545080066
Reply with quote  #2

1545080066
Report to moderator
1545080066
Hero Member
*
Offline Offline

Posts: 1545080066

View Profile Personal Message (Offline)

Ignore
1545080066
Reply with quote  #2

1545080066
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1545080066
Hero Member
*
Offline Offline

Posts: 1545080066

View Profile Personal Message (Offline)

Ignore
1545080066
Reply with quote  #2

1545080066
Report to moderator
1545080066
Hero Member
*
Offline Offline

Posts: 1545080066

View Profile Personal Message (Offline)

Ignore
1545080066
Reply with quote  #2

1545080066
Report to moderator
1545080066
Hero Member
*
Offline Offline

Posts: 1545080066

View Profile Personal Message (Offline)

Ignore
1545080066
Reply with quote  #2

1545080066
Report to moderator
Ploo
Full Member
***
Offline Offline

Activity: 125
Merit: 100


View Profile
April 08, 2013, 09:24:49 PM
 #2

Just the opposite. People are enjoying all the extra drugs their coins could not buy a week earlier.
meebs
Hero Member
*****
Offline Offline

Activity: 616
Merit: 500



View Profile
April 08, 2013, 09:24:56 PM
 #3

All hypothetical of course.

Due to the high price of bitcoin, will that affect the silk road? Will people turn to different markets that deal with "proper" money [ducks and runs for cover] and hoard their BitCoin causing deflation?

Are there any figures?

why do you think it would change?

its just something that used to cost 20BTC when it was $10 each will now cost 1BTC....

              ▄▄▄█████████████▄▄▄
           ▄████████▀▀▀▀▀▀▀████████▄
        ▄██████▀▀             ▀▀██████▄
      ▄█████▀▀                    ▀▀█████▄
     █████▀                          ▀█████
    ████▀          ▄▄███████▄▄         ▀████
   ████▌        ▄██▀▀▀    ▀▀▀██▄        ▐████
  ████▌       ▄██▀            ▀██▄       ▐████
 ▐████       ██▀   ▄▄█▀▀▀█▄▄    ▀██       ████▌
 ████▌      ▐█▌   █▀  ▄▄   ▀▀             ▐████
▐████       ██  █▌  █▌ █████████████      ████▌
▐████       ██  ▐█  ▐█                     ████▌
▐████       ██  █▌  █▌ █████████████      ████▌
 ████▌      ▐█▌   █▄  ▀▀   ▄▄    ██▀      ▐████
 ▐████       ██▄   ▀▀█▄▄▄█▀▀    ██▌       ████▌
  █████       ▀██▄            ▄██▀       █████
   █████        ▀██▄▄▄    ▄▄▄██▀        █████
    █████          ▀▀███████▀▀         █████
     █████▄                          ▄█████
      ▀█████▄▄                    ▄▄█████▀
        ▀██████▄▄             ▄▄██████▀
           ▀████████▄▄▄▄▄▄▄████████▀
              ▀▀▀█████████████▀▀▀
Global Cryptocurrency
          ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬

  DECENTRALISING PRODUCTION, LOGISTICS AND PAYMENT 
                ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬   3D SERVICE      32 BAY     GCC WEBWALLET
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬

sedeki
Newbie
*
Offline Offline

Activity: 57
Merit: 0


View Profile
April 08, 2013, 09:25:49 PM
 #4

All hypothetical of course.

Due to the high price of bitcoin, will that affect the silk road? Will people turn to different markets that deal with "proper" money [ducks and runs for cover] and hoard their BitCoin causing deflation?

Are there any figures?
The prices are adjusted to the USD.
Aztec
Newbie
*
Offline Offline

Activity: 56
Merit: 0



View Profile
April 08, 2013, 09:34:07 PM
 #5

All hypothetical of course.

Due to the high price of bitcoin, will that affect the silk road? Will people turn to different markets that deal with "proper" money [ducks and runs for cover] and hoard their BitCoin causing deflation?

Are there any figures?
The prices are adjusted to the USD.

Yes but BitCoin is rising in price all the time so some people might hold them to sell rather than to spend them.
Elwar
Legendary
*
Offline Offline

Activity: 2674
Merit: 1310


Viva Ut Vivas


View Profile WWW
April 08, 2013, 09:34:50 PM
 #6

All hypothetical of course.

Due to the high price of bitcoin, will that affect the silk road? Will people turn to different markets that deal with "proper" money [ducks and runs for cover] and hoard their BitCoin causing deflation?

Are there any figures?
The prices are adjusted to the USD.

Yes but BitCoin is rising in price all the time so some people might hold them to sell rather than to spend them.

Bitcoin is proving Paul Krugman wrong.

And what is this "sell" that you speak of?

PM me if you are ready to actually start seasteading.
matt608
Legendary
*
Offline Offline

Activity: 952
Merit: 1000


Gambling Investment Fund


View Profile
April 08, 2013, 09:40:51 PM
 #7

All hypothetical of course.

Due to the high price of bitcoin, will that affect the silk road? Will people turn to different markets that deal with "proper" money [ducks and runs for cover] and hoard their BitCoin causing deflation?

Are there any figures?

It would just mean they see a higher usd figure in their account and see they have more to spend on drugs so they buy more, I would imagine.


GIFcoin




.
Gambling
Investment Fund
  Invest in a working business  .......        ✔︎ 
  80% of the net profits are shared .....      ✔︎ 
  Profit share token     ✔︎ 
Follow us & check out the .      whitepaper     .
.
Website    Announcement    Twitter    Telegram    Facebook
tiberiandusk
Hero Member
*****
Offline Offline

Activity: 576
Merit: 500


The North Remembers


View Profile WWW
April 08, 2013, 09:44:06 PM
 #8

You don't understand druggies at all. They are just buying more drugs.

Bitcoin Auction House http://www.BitBid.net BTC - 1EwfBVC6BwA6YeqcYZmm3htwykK3MStW6N | LTC - LdBpJJHj4WSAsUqaTbwyJQFiG1tVjo4Uys Don't get Goxed.
sedeki
Newbie
*
Offline Offline

Activity: 57
Merit: 0


View Profile
April 08, 2013, 09:45:11 PM
 #9

All hypothetical of course.

Due to the high price of bitcoin, will that affect the silk road? Will people turn to different markets that deal with "proper" money [ducks and runs for cover] and hoard their BitCoin causing deflation?

Are there any figures?
The prices are adjusted to the USD.

Yes but BitCoin is rising in price all the time so some people might hold them to sell rather than to spend them.
Sure. But that was a explicit design goal.
I don't think this is a big problem though because Silk Road is a big reason why people buy BTC in the first place.
der_troll
Sr. Member
****
Offline Offline

Activity: 360
Merit: 250


MOOZICORE


View Profile
April 08, 2013, 09:45:30 PM
 #10

Yes but BitCoin is rising in price all the time so some people might hold them to sell rather than to spend them.

You know what addiction is, right?

MoozicoreWORLDS FIRST MUSIC STREAMING SERVICE ON BLOCKCHAIN
 
   █████                     █████
  ███████                   ███████
  ███████                   ███████
  ███████                   ███████
  ███████                   ███████
  ███████                   ███████
  ███████                   ███████
  ███████       █████       ███████
  ███████      ███████      ███████
  ███████      ███████      ███████
  ███████      ███████      ███████
  ███████      ███████      ███████
  ███████      ███████      ███████
  ███████      ███████      ███████
  ███████      ███████      ███████
  ███████      ███████      ███████
  ███████      ███████      ███████
   █████        █████        █████
Aztec
Newbie
*
Offline Offline

Activity: 56
Merit: 0



View Profile
April 08, 2013, 09:51:00 PM
 #11

Yes but BitCoin is rising in price all the time so some people might hold them to sell rather than to spend them.

You know what addiction is, right?

Yeah but you still have to wait for the postman right haha
Amitabh S
Legendary
*
Offline Offline

Activity: 1002
Merit: 1000


View Profile
April 08, 2013, 09:54:37 PM
 #12

Hmm addiction on one hand, and $$$$$ on other. I think money is the biggest addiction.

Coinsecure referral ID: https://coinsecure.in/signup/refamit (use this link to signup)
tiberiandusk
Hero Member
*****
Offline Offline

Activity: 576
Merit: 500


The North Remembers


View Profile WWW
April 08, 2013, 10:26:04 PM
 #13

Hmm addiction on one hand, and $$$$$ on other. I think money is the biggest addiction.


They are addicted to money that they can use to buy drugs.

Bitcoin Auction House http://www.BitBid.net BTC - 1EwfBVC6BwA6YeqcYZmm3htwykK3MStW6N | LTC - LdBpJJHj4WSAsUqaTbwyJQFiG1tVjo4Uys Don't get Goxed.
Amitabh S
Legendary
*
Offline Offline

Activity: 1002
Merit: 1000


View Profile
April 08, 2013, 10:28:28 PM
 #14

So you are saying that addiction > money?

Coinsecure referral ID: https://coinsecure.in/signup/refamit (use this link to signup)
tiberiandusk
Hero Member
*****
Offline Offline

Activity: 576
Merit: 500


The North Remembers


View Profile WWW
April 08, 2013, 10:31:48 PM
 #15

Some addictions.

Bitcoin Auction House http://www.BitBid.net BTC - 1EwfBVC6BwA6YeqcYZmm3htwykK3MStW6N | LTC - LdBpJJHj4WSAsUqaTbwyJQFiG1tVjo4Uys Don't get Goxed.
pumawolf
Sr. Member
****
Offline Offline

Activity: 962
Merit: 250



View Profile
April 09, 2013, 03:58:54 AM
 #16

if anything  they could afford to buy in bulk  and  make some change on the side while supportin their lifestyle. its good times for the   users of such.


                                     ▄▄▄▓▓▓▓▄▄▄
                                  ▄▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▄
                              ░▓▓▓▓▓▓▀        ░▀▓▓▓▓▓░
                            ▄▓▓▓▓▓               ░▓▓▓▓░
                          ▓▓▓▓▓▀      ▄▄▄▄         ▐▓▓▓▒
                        ▓▓▓▓▓░    ░▀▓▓▓▓▓▌          ▐▓▓▓░
           ▄▄▓▓▓▓▄▄    ▀▓▓▓░      ░▓▓▓▓▓▓▌          ░▓▓▓▒
        ▄▓▓▓▓▓▓▓▓▓▓▓▓▓▓▄        ▄▓▓▓▓▓░  ░          ░▓▓▓░
      ▒▓▓▓▓▀       ▀▓▓▓▓▓▓▄   ░▓▓▓▓▀                ▓▓▓▓
     ▒▓▓▓░            ░▀▓▓▓▓▓▓▄░ ▀                 ▓▓▓▓░
    ░▓▓▓▒                 ▀▓▓▓▓▓▓▄               ▄▓▓▓▓░
    ░▓▓▓▒               ▓▓▓▄░░▀▓▓▓▓▓▓▓▄▄     ▄▄▓▓▓▓▓▀
     ▒▓▓▓░           ▄▓▓▓▓▓░      ▀▓▓▓▓▓▓▓▓▓▓▓▓▓▓▀
      ▒▓▓▓▓▄      ▄▓▓▓▓▓▀              ▀▀▀▀▀▀
        ▀▓▓▓▓▓▓▓▓▓▓▓▓▓░
          ░▀▀▀▓▓▓▀▀░
EcoVerse

    ▄██████████████████████████▄
    ████████████████████████████
    ████████████████▀▀▀▀▀▀██████
    ███████████████       ██████
    ██████████████▌   ▐█████████
    ████████████▀▀     ▀▀▀██████
    ████████████          ██████
    ██████████████▌   ▐█████████
    ██████████████▌   ▐█████████
    ██████████████▌   ▐█████████
    ██████████████▌   ▐█████████
    ████████████████████████████
     ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀


                              ▄████▄
                        ▄▄█████▀▀███
                    ▄▄████▀▀     ███
              ▄▄▄████▀▀    ▄▄   ▐██
          ▄▄█████▀       ▄█▀    ██▌
     ▄▄████▀▀▀       ▄███▀      ██▌
    ████▀        ▄▄████▀       ▐██
     ██████▄▄  ▄█████▀         ██▌
          ▀████████           ▐██
            ▀████▌            ███
             ▀███  ▄██▄▄     ▐██▀
              ███▄███▀███▄   ███
              ▀███▀▀   ▀▀███▄██▌
                          ▀▀█▀▀


                      ▄▄▄██▄▄▄    ▄
     ██▄            ▄████████████▀
     █████▄▄       ▐█████████████▀
      █████████▄▄▄▄▐████████████▌
     █▄█████████████████████████▌
     ▀██████████████████████████
       ▀███████████████████████
       ▐██████████████████████
         ▀██████████████████▀
           ▄▄█████████████▀
     ▀████████████████▀▀
          ▀▀▀▀▀▀▀▀
moni3z
Hero Member
*****
Offline Offline

Activity: 886
Merit: 1000



View Profile
April 09, 2013, 08:41:39 AM
 #17

SR has an escrow option where you can guarantee the price no matter what happens to rise/fall of BTC. I bet nobody is using that option anymore. I also bet there's lot's of crackheads demanding more crack from vendors because the price of BTC went up the day after they paid and they could've bought more crack if they weren't so cracked out and didn't spend their coins immediately

dg2010
Sr. Member
****
Offline Offline

Activity: 406
Merit: 250


Look ARROUND!


View Profile
April 09, 2013, 09:12:37 AM
 #18

You don't understand druggies at all. They are just buying more drugs.

Hahaha. Nail on the head.

I imagine most of the SR buyers don't care for the price of Bitcoin. They just want to know if they buy £30 of bitcoin that they can buy £30 worth of drugs.


.........................................
             █████████████████
         ███ ██     █     ██ ███
       ██ █████     █     █████ ██
     ███   █   █  █████  █   █   ███
   ███     █    ███ █ ███    █     ███
  ██  ███ ██ ███    █    ███ ██ ███  ██
  ██     ████       █      █████     ██
 ███   ██ █  ███    █    ███  █ ██   ███
 █ █ ██   █     ██  █  ██     █   ██ █ █
█████     █       █████       █     █████
 █ █ ██   █   ████  █  ████   █   ██ █ █
 ███   ████ ██      █      ██ ████   ███
  ██  █  █████      █      █████  █  ██
  ██ ██   ██ ████   █  ████  ██   ██ ██
   ██      █     ██████      █     ███
     ████  █   ██████████    █  ████
       ██ █████     █    ██████ ██
         ███  ██    █   ███  ███
            █████████████████
ARROUND









.









.
Telegram
ANN Thread
Bounty Thread
Whitepaper
Pages: [1]
  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!