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Author Topic: Idea ("Silk Road" except for gold/silver instead of drugs)  (Read 1908 times)
fellowtraveler
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June 22, 2011, 07:26:36 PM
 #1

Someone should put up a version of Silk Road that does NOT deal in drugs, guns, etc.

Basically it would be identical to the existing Silk Road, except people would deal only in gold and silver coins (for Bitcoin.)

I'm actually sad that the Silk Road guys did drugs first, since all it did was bring a bunch of heat down.


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June 22, 2011, 07:34:36 PM
 #2

I think it's a good idea, since the US government is planning to outlaw "over the counter" gold trading.

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barbarousrelic
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June 22, 2011, 08:54:59 PM
 #3

I love this idea.

Do not waste your time debating whether Bitcoin can work. It does work.

"Early adopters will profit" is not a sufficient condition to classify something as a pyramid or Ponzi scheme. If it was, Apple and Microsoft stock are Ponzi schemes.

There is no such thing as "market manipulation." There is only buying and selling.
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June 22, 2011, 09:09:49 PM
 #4

already working on it....
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June 22, 2011, 10:31:03 PM
 #5

PM me. I'll sell you as much as you want. Plenty of references and willing to use ClearCoin escrow.

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June 22, 2011, 10:33:28 PM
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PM me. I'll sell you as much as you want. Plenty of references and willing to use ClearCoin escrow.

TraderSteve

I mean a place that lists buyers and sellers, and has escrow, and has prices posted, and allows people to convert both directions.

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June 22, 2011, 10:41:17 PM
 #7

PM me. I'll sell you as much as you want. Plenty of references and willing to use ClearCoin escrow.

TraderSteve

I mean a place that lists buyers and sellers, and has escrow, and has prices posted, and allows people to convert both directions.


I see, yes, that would be good.  Smiley
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June 22, 2011, 10:48:17 PM
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already working on it....

Can't wait!

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fellowtraveler
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June 22, 2011, 11:03:57 PM
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It should do reputation as well, like eBay or Amazon.

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June 22, 2011, 11:21:06 PM
 #10

I'm actually sad that the Silk Road guys did drugs first, since all it did was bring a bunch of heat down.

The problem is that that excuse can be used for anything. The obvious solution is to just use silkroad.

Using a marketplace, even if other people do illegal things there, does not make you a criminal. I buy things downtown all the time, some people buy drugs there, if proximity to crime was a crime, you are already guilty, get over it.

For the hyper paranoid: If buying/selling gold becomes criminal, then at least you are doing business somewhere that takes security seriously.

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June 23, 2011, 01:10:40 AM
 #11

I'm actually sad that the Silk Road guys did drugs first, since all it did was bring a bunch of heat down.

The problem is that that excuse can be used for anything. The obvious solution is to just use silkroad.

Even if that is the case, there should still be a separate "gold road" on Tor, based on the same code.  

Otherwise it's just too easy for the-powers-that-be to propagandize the link between the two. "Gold" becomes comparable to "drugs" and "guns".

There is already enough of a push in the mainstream media to label gold as "contraband", we should not give those people ammunition.

Think about this: If the site ONLY sells gold and silver, then it becomes much more difficult to demonize those people. Any effort to do so would be interpreted as an attack on justice.



 

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June 23, 2011, 12:06:37 PM
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Think about this: If the site ONLY sells gold and silver, then it becomes much more difficult to demonize those people. Any effort to do so would be interpreted as an attack on justice.
If you do this you dispense with the benefits of having a diversified market and all the network effects that carries.

If I said I wanted a tor trading site that only dealt in 18th century french coins, if another site existed that already allowed me to do that, would you think I was being silly?

My main objection is that your stated concern is impossible to rectify, if you run from all possible guilt by association you will never stop running.

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June 23, 2011, 01:29:44 PM
 #13

I think it's a good idea, since the US government is planning to outlaw "over the counter" gold trading.
No shit? Really? I've never been in USA, but from what I read, it seems to me that it's more totalitarian than China.

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June 23, 2011, 01:33:08 PM
 #14

I think it's a good idea, since the US government is planning to outlaw "over the counter" gold trading.
No shit? Really? I've never been in USA, but from what I read, it seems to me that it's more totalitarian than China.

Funny you say that. China is  turning more capitalist while USA is turning socialist. Ridiculous. Its no surprise that the usa is in the condition it is in. Massive debt, huge trade deficits. USA is on its death bead, an economy in decline.

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June 23, 2011, 01:47:54 PM
 #15

Quote
Think about this: If the site ONLY sells gold and silver, then it becomes much more difficult to demonize those people. Any effort to do so would be interpreted as an attack on justice.

Actually, the fractional reserve trolls do try to demonize supporters of the gold standard as some looney conspiracists. It would not come as any surprise if they attempted to do this against a gold and silver exchange based on bitcoins. But still it is much better than being, however erronously, associated with drug sales. Guilt by association is a stupid term, although it has been used for ages and does enjoy some support.

Sadly, I don't think such an exchange would work in practice due to human greed. Gold price is so high that the financial incentive to fraud would be very high. Someone could even trade for weeks or months and build up a good reputation and then commit a fraud amounting to many thousand dollars in a weeks time. And due to the anonymised nature of Tor it would be impossible to remedy. Even if a few traders did not rip off their customers, I envisage a monopolistic situation were almost all buyers purchase from a very select number of sellers, although I doubt trade would continue after hundreds of people being defrauded.

How can you tell when a politician is lying? His lips are moving. A little girl asked her father, 'do all fairy tales begin with "Once upon a time"? The father replied, 'No, some begin with - If I am elected.' How come political leaders don't have all the answers until they write their memoirs?
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June 23, 2011, 03:02:19 PM
 #16

already working on it....

Well, this is definitely something to keep an eye on....

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June 23, 2011, 03:11:18 PM
 #17

I don't think I could trust this with anything other than junk silver.  However, I'd like to trade metals for BTC with btcnearme.com or equivalent sites.
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