XXthetimeisnowXX (OP)
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a wolf in sheeps clothing. suckerfish
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May 01, 2013, 06:21:27 PM |
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like it or not sr is hurting BTC and we will see a decline until it is up and running. even though they are not the #1 market anymore for btc they do affect the price quite a bit. man im in for some hate comments arnt I let the hate begin
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The Bitcoin network protocol was designed to be extremely flexible. It can be used to create timed transactions, escrow transactions, multi-signature transactions, etc. The current features of the client only hint at what will be possible in the future.
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WikileaksDude
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May 01, 2013, 06:23:08 PM |
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They will fix it soon.
Otherwise will be the tor team fixing this DDoS exploit on their network.
This affects tor network big time.
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lebing
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Enabling the maximal migration
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May 01, 2013, 06:23:54 PM |
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They will fix it soon.
Otherwise will be the tor team fixing this DDoS exploit on their network.
This affects tor network big time.
How exactly would the TOR team do that?
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Bro, do you even blockchain? -E Voorhees
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hugolp
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Radix-The Decentralized Finance Protocol
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May 01, 2013, 06:26:18 PM |
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They will fix it soon.
Otherwise will be the tor team fixing this DDoS exploit on their network.
This affects tor network big time.
How exactly would the TOR team do that? Because the attack is on TOR itself not Silk Road specifically. The attack is happening because of a weakness of the Tor protocol, the attacker can do this type of attack to any TOR hidden and Im sure its a safe bet its something they want to resolve.
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Missionary
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May 01, 2013, 06:31:00 PM |
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I would be glad to see Silk Road shut down for good.
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I am an evangelical missionary heading to China. Donations are welcome here (dedicated wallet): 1H8iswayfTaRb6oe2WjMCRmchBJHYyfx9z You can find more information about my plans here: http://btcmission.com
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dg2010
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May 01, 2013, 08:43:12 PM |
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I've been saying this for ages. Silk Road is the single most driver of REAL bitcoin trade there is.
Most other "businesses" that accept bitcoin are doing very little volume. Whereas SilkRoad is pumping massive amounts through.
Bitpays announcement of $5m is absolute horse shit lies.
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Gordonium
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May 01, 2013, 08:47:49 PM |
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If Silk Road would be shut down, competitors would take it's place. End of story.
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N12
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May 01, 2013, 08:50:02 PM |
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I've been saying this for ages. Silk Road is the single most driver of REAL bitcoin trade there is.
Most other "businesses" that accept bitcoin are doing very little volume. Whereas SilkRoad is pumping massive amounts through.
Bitpays announcement of $5m is absolute horse shit lies.
That's right. It's been two years now, and the only widely used economic application for Bitcoins I see besides Silk Road is Satoshi Dice (obviously besides speculation+mining). I'm willing to be proven wrong, though. Is there anything with more users and volume? Most of Bitpay's claimed volume was due to Avalon's ASICs which were sold through them.
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Crypt_Current
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May 01, 2013, 08:51:47 PM |
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I would be glad to see Silk Road shut down for good.
Why?
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Jakel-s
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May 01, 2013, 08:53:54 PM |
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I would be glad to see Silk Road shut down for good.
You have a problem with a site that essentially removes crime from the unnecessarily prohibited drug trade? Then don't use it.
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XXthetimeisnowXX (OP)
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Merit: 250
a wolf in sheeps clothing. suckerfish
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May 01, 2013, 08:55:14 PM |
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I would be glad to see Silk Road shut down for good.
Why? HE WANTS CHEEP COINS
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iCEBREAKER
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Crypto is the separation of Power and State.
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May 01, 2013, 08:55:40 PM |
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I would be glad to see Silk Road shut down for good.
Why? Puritanism: the haunting fear that someone, somewhere is having a good time. - H.L. Mencken
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██████████ ██████████████████ ██████████████████████ ██████████████████████████ ████████████████████████████ ██████████████████████████████ ████████████████████████████████ ████████████████████████████████ ██████████████████████████████████ ██████████████████████████████████ ██████████████████████████████████ ██████████████████████████████████ ██████████████████████████████████ ████████████████████████████████ ██████████████ ██████████████ ████████████████████████████ ██████████████████████████ ██████████████████████ ██████████████████ ██████████ Monero
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| "The difference between bad and well-developed digital cash will determine whether we have a dictatorship or a real democracy." David Chaum 1996 "Fungibility provides privacy as a side effect." Adam Back 2014
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meangreen
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May 01, 2013, 08:56:50 PM |
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I've been saying this for ages. Silk Road is the single most driver of REAL bitcoin trade there is.
Most other "businesses" that accept bitcoin are doing very little volume. Whereas SilkRoad is pumping massive amounts through.
Bitpays announcement of $5m is absolute horse shit lies.
You are absolutely right. You better watch out though, you may crush the dreams of all the dreamers on here who think that bitcoin will survive without the Road. +10
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meangreen
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May 01, 2013, 08:58:00 PM |
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I would be glad to see Silk Road shut down for good.
LOL. you are a closed minded douchbag.
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XXthetimeisnowXX (OP)
Sr. Member
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Merit: 250
a wolf in sheeps clothing. suckerfish
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May 01, 2013, 08:59:36 PM |
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I would be glad to see Silk Road shut down for good.
Why? Puritanism: the haunting fear that someone, somewhere is having a good time. - H.L. Mencken +1 ha ......BTW love the name and the pick.... damn "the time is ..... not now"? ha
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dbru77
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May 01, 2013, 09:10:53 PM |
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I've been saying this for ages. Silk Road is the single most driver of REAL bitcoin trade there is.
Most other "businesses" that accept bitcoin are doing very little volume. Whereas SilkRoad is pumping massive amounts through.
Bitpays announcement of $5m is absolute horse shit lies.
You are absolutely right. You better watch out though, you may crush the dreams of all the dreamers on here who think that bitcoin will survive without the Road. +10 Definitely share these opinions. I believe SR related transactions are still the biggest real world appliance of BTC. That might change in the future, but a huge part of the current demand for exchanging BTC originates from SR.
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Elwar
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Viva Ut Vivas
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May 01, 2013, 09:20:10 PM |
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In 2011 Silk Road was about 80-90% of Bitcoin transactions. Today it is closer to 20-30%.
Illegal transactions are actually a good thing, it shows that the system works.
When the government is going home to home confiscating weapons and bibles you will want a currency that can buy things the government does not like.
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First seastead company actually selling sea homes: Ocean Builders https://ocean.builders Of course we accept bitcoin.
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meowmeowbrowncow
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May 01, 2013, 09:25:29 PM |
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In 2011 Silk Road was about 80-90% of Bitcoin transactions. Today it is closer to 20-30%.
Illegal transactions are actually a good thing, it shows that the system works.
When the government is going home to home confiscating weapons and bibles you will want a currency that can buy things the government does not like.
+1 Bitcoin success? Impartiality. Lady Liberty is blindfolded for this reason. Let not an act or situation be prejudged to the extent that those in suspicion are immediately persecuted. I do not want to live in a society where all is prejudged. Please see the movie (or read the book) 1984 for the outcome of such a judgmental society. The point is not to right a wrong, but to allow all that is right.
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"Bitcoin has been an amazing ride, but the most fascinating part to me is the seemingly universal tendency of libertarians to immediately become authoritarians the very moment they are given any measure of power to silence the dissent of others." - The Bible
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N12
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May 01, 2013, 09:35:23 PM |
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In 2011 Silk Road was about 80-90% of Bitcoin transactions. Today it is closer to 20-30%.
Source? I haven't heard about new numbers from SR.
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Bakemono
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May 01, 2013, 09:53:32 PM |
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I've been saying this for ages. Silk Road is the single most driver of REAL bitcoin trade there is.
Most other "businesses" that accept bitcoin are doing very little volume. Whereas SilkRoad is pumping massive amounts through.
Bitpays announcement of $5m is absolute horse shit lies.
If SR is so important to the bitcoin ecosystem maybe i should stop talking so much to my friends about bitcoins...
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BTC : 1Ct9opEdmq4ZuZmNQmhGBDcurrePFykTRt LTC : LLqGtKpAdx6Ci8ZaSrvWG6WXfFF3mPK4V9
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Zangelbert Bingledack
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May 01, 2013, 09:59:50 PM |
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The SR subreddit has nearly a third as many subscribers as the Bitcoin subreddit. Considering people would be especially wont to subscribe to the SR one, it seems SR is really huge in the Bitcoin world, as least as far as discussion goes.
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Kluge
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May 01, 2013, 10:02:32 PM |
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I've been saying this for ages. Silk Road is the single most driver of REAL bitcoin trade there is.
Most other "businesses" that accept bitcoin are doing very little volume. Whereas SilkRoad is pumping massive amounts through.
Bitpays announcement of $5m is absolute horse shit lies.
If SR is so important to the bitcoin ecosystem maybe i should stop talking so much to my friends about bitcoins... Worried they're going to get addicted to crack?? SR is a huge consumer vendor, and there aren't very many large-scale BTC vendors. Bitcoin is also very well-suited to purchases of illegal goods, just like Tor - but I don't think you'd tell your friends not to use Tor because people use it for child porn, drugs, and assassins for hire. It can also be used to "hide" a community of upbeat, positive people looking to impact the lives of others in a good way, which obviously isn't allowed on public Internet.
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N12
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May 01, 2013, 10:06:06 PM |
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There is nothing to be ashamed of, drug prohibition is the immoral thing. Silk Road is legitimate economic activity and I believe the center point of what others label the "Bitcoin economy".
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meangreen
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May 01, 2013, 11:15:13 PM |
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I've been saying this for ages. Silk Road is the single most driver of REAL bitcoin trade there is.
Most other "businesses" that accept bitcoin are doing very little volume. Whereas SilkRoad is pumping massive amounts through.
Bitpays announcement of $5m is absolute horse shit lies.
If SR is so important to the bitcoin ecosystem maybe i should stop talking so much to my friends about bitcoins... what friends?
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massivebitman
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May 01, 2013, 11:30:34 PM |
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Meh... It's a good thing.
Silkroad gives bitcoins a bad wrap, it was great to get it started, but surely there's enough vc being pumped in now that we can move beyond the black market ebay?
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Kluge
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May 01, 2013, 11:32:18 PM |
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Meh... It's a good thing.
Silkroad gives bitcoins a bad wrap, it was great to get it started, but surely there's enough vc being pumped in now that we can move beyond the black market ebay?
I'd think Bitcoin's the perfect medium of exchange for VCs funneling money INTO "the black market eBay."
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meangreen
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May 01, 2013, 11:51:35 PM |
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Meh... It's a good thing.
Silkroad gives bitcoins a bad wrap, it was great to get it started, but surely there's enough vc being pumped in now that we can move beyond the black market ebay?
oh yea venture capital is just saturating the bitcoin market. prove it
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dg2010
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May 02, 2013, 08:36:33 AM |
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In 2011 Silk Road was about 80-90% of Bitcoin transactions. Today it is closer to 20-30%.
Source? I don't believe it at all, that would mean there is another 70-80% of trade going on and I don't see it? Show me who is doing that much trade? The people that accept bitcoin are really doing so as a fun experiment and not trading real volume. I think the reality is finally hitting home, that the last few months were basically full of bullshit lies. Most of you fell for it and believed the hype, believed that investors around the world were ready to pump millions into the economy. All this talk of VC's and hedge funds, fucking ATM's, what a load of bullshit.
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mp420
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May 02, 2013, 09:02:53 AM |
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All of the SR trade raises the bitcoin price probably about one dollar at most.
SR does not create extra demand for Bitcoin. It just decreases supply a tad, as the "in process" trades keep some BTC out of the market.
It does have a hype factor, but it's hard to tell if it's positive or negative.
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adamas
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VIS ET LIBERTAS
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May 02, 2013, 09:19:06 AM |
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I would be glad to see Silk Road shut down for good.
Same for me.
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"Es ist kein Zeichen geistiger Gesundheit, gut angepasst an eine kranke Gesellschaft zu sein."
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XXthetimeisnowXX (OP)
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Merit: 250
a wolf in sheeps clothing. suckerfish
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May 02, 2013, 04:40:38 PM |
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All of the SR trade raises the bitcoin price probably about one dollar at most.
SR does not create extra demand for Bitcoin. It just decreases supply a tad, as the "in process" trades keep some BTC out of the market.
It does have a hype factor, but it's hard to tell if it's positive or negative.
one percent!!!!!! aughhhhhhhh this guy thinks its about one percent ahahahahahahahahahahaha fucking kidding me!!!!! get real dude! ha as we watch bitcoin price go from 148 to low 90 in three days and sr is shut down...hummmmmmmmmmm no no you are right just one percent thats all
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Brushan
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May 02, 2013, 04:42:54 PM |
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It was very bad timing too. A whole week of bank holidays, 2 weeks after a crash and SR being closed. I'm surprised that the price is holding so well and it is a long time very bullish sign.
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TiagoTiago
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May 02, 2013, 04:55:24 PM |
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Didn't the price go down due to a hoax about Gox being raided by the gov?
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(I dont always get new reply notifications, pls send a pm when you think it has happened) Wanna gimme some BTC/BCH for any or no reason? 1FmvtS66LFh6ycrXDwKRQTexGJw4UWiqDX The more you believe in Bitcoin, and the more you show you do to other people, the faster the real value will soar!
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Coinbuck @ BTCLot
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May 02, 2013, 05:14:06 PM |
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In 2011 Silk Road was about 80-90% of Bitcoin transactions. Today it is closer to 20-30%.
Illegal transactions are actually a good thing, it shows that the system works.
When the government is going home to home confiscating weapons and bibles you will want a currency that can buy things the government does not like.
Sorry but I have to say it is bullshit. Support your claim please.
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mp420
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May 02, 2013, 08:07:45 PM |
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All of the SR trade raises the bitcoin price probably about one dollar at most.
SR does not create extra demand for Bitcoin. It just decreases supply a tad, as the "in process" trades keep some BTC out of the market.
It does have a hype factor, but it's hard to tell if it's positive or negative.
one percent!!!!!! aughhhhhhhh this guy thinks its about one percent ahahahahahahahahahahaha fucking kidding me!!!!! get real dude! ha as we watch bitcoin price go from 148 to low 90 in three days and sr is shut down...hummmmmmmmmmm no no you are right just one percent thats all You obviously do not understand how the market works. I agree that drug trade is likely at least 70% of all BTC nominated trade, speculation excluded. But all the drug trade does is keep some amount of bitcoins out of circulation. Even if SR trade is $1M a day and each trade takes 14 days, that means $14 million worth of BTC are kept out of the market. At $100 per BTC that is just 140,000 BTC. Bitcoin's two month inflation is more than that. So, SR (or any drug trade, or any actual BTC-nominated non-speculative trade for that matter) does little to affect Bitcoin price. Bitcoin price is over 95 percent speculative demand. Edit: stupid mistake corrected.
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Kluge
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May 02, 2013, 08:24:40 PM |
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All of the SR trade raises the bitcoin price probably about one dollar at most.
SR does not create extra demand for Bitcoin. It just decreases supply a tad, as the "in process" trades keep some BTC out of the market.
It does have a hype factor, but it's hard to tell if it's positive or negative.
one percent!!!!!! aughhhhhhhh this guy thinks its about one percent ahahahahahahahahahahaha fucking kidding me!!!!! get real dude! ha as we watch bitcoin price go from 148 to low 90 in three days and sr is shut down...hummmmmmmmmmm no no you are right just one percent thats all You obviously do not understand how the market works. I agree that drug trade is likely at least 70% of all BTC nominated trade, speculation excluded. But all the drug trade does is keep some amount of bitcoins out of circulation. Even if SR trade is $1M a day and each trade takes 14 days, that means $14 million worth of BTC are kept out of the market. At $100 per BTC that is just 140,000 BTC. Bitcoin's two month inflation is more than that. So, SR (or any drug trade, or any actual BTC-nominated non-speculative trade for that matter) does little to affect Bitcoin price. Bitcoin price is over 95 percent speculative demand. Edit: stupid mistake corrected. I think that's pretty hard to say. Sellers aren't necessarily converting their BTC to USD upon receiving, and may hold, since they're obviously interested in cryptography and Bitcoin itself to at least some extent. It's not like they're using BitInstant.
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mp420
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May 02, 2013, 08:27:38 PM |
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I think that's pretty hard to say. Sellers aren't necessarily converting their BTC to USD upon receiving, and may hold, since they're obviously interested in cryptography and Bitcoin itself to at least some extent. It's not like they're using BitInstant.
But that is speculative demand, it's just that some of the drug dealers are speculators at the same time.
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Kluge
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May 02, 2013, 08:32:27 PM |
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I think that's pretty hard to say. Sellers aren't necessarily converting their BTC to USD upon receiving, and may hold, since they're obviously interested in cryptography and Bitcoin itself to at least some extent. It's not like they're using BitInstant.
But that is speculative demand, it's just that some of the drug dealers are speculators at the same time. That's probably true. Maybe they buy others' drugs and weapons with a share of the profit and put revenues to cover costs back to USD -- Idunno their mindset. Even if they are speculating, though, they obviously have a long position, so that would increase the price because those coins will probably be out of circulation for a significantly longer duration than just the time for escrow to release.
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