Liberty Reserve shutdown is a boost for Bitcoin?

[niothor]

Silk Road? They move aprox. $1.2M per month.

Trading volume at Gox in the last 30 days is $238,479,686.66

So, come on, who are the other "criminals" using Bitcoin and moving twenty times more than Silk Road monthly? Please let me know, and please include figures, facts and sources to your groundless speculations.

And BTW, you may be tempted to say that the rest of volume in BTC's economy is just speculators trading? Well, AFAIK trading is a "legit" business - isn't it?

You're messing up trade volume on an exchanger with sales between two people.
Forex is doing $3.98 trillion /day  more than the revenue of the 10 biggest companies in the world /year.

Besides , I can say for sure that there were at least4 orders over 50k usd  SR:) , this month.

I'm not messing that up. Sales between two people is one thing - trades between two peoples (or bots) is a different thing.

But still, Gox is a legitimate business - and their turnover is probably bigger that the one of Silk Road. BTC's economy is not based at all in Silk Road, trading/speculation (which is not "black market", but a legit business) is much bigger and moves more money that "black market" operations in BTC.

Comparing Gox trade volume with the sales on SR is just stupid.
Let me make this easier for you:
Forex ( In our case Gox) is doing almost 4 trilions a day,  in order to match those numbers the people in this world would have to spend 1000 usd /day (Like SR).

DO you see something wrong here?

ps:
http://blockchain.info/charts/estimated-transaction-volume-usd?daysAverageString=7

[Rampion]

Silk Road? They move aprox. $1.2M per month.

Trading volume at Gox in the last 30 days is $238,479,686.66

So, come on, who are the other "criminals" using Bitcoin and moving twenty times more than Silk Road monthly? Please let me know, and please include figures, facts and sources to your groundless speculations.

And BTW, you may be tempted to say that the rest of volume in BTC's economy is just speculators trading? Well, AFAIK trading is a "legit" business - isn't it?

You're messing up trade volume on an exchanger with sales between two people.
Forex is doing $3.98 trillion /day  more than the revenue of the 10 biggest companies in the world /year.

Besides , I can say for sure that there were at least4 orders over 50k usd  SR:) , this month.

I'm not messing that up. Sales between two people is one thing - trades between two peoples (or bots) is a different thing.

But still, Gox is a legitimate business - and their turnover is probably bigger that the one of Silk Road. BTC's economy is not based at all in Silk Road, trading/speculation (which is not "black market", but a legit business) is much bigger and moves more money that "black market" operations in BTC.

Comparing Gox trade volume with the sales on SR is just stupid.
Let me make this easier for you:
Forex ( In our case Gox) is doing almost 4 trilions a day,  in order to match those numbers the people in this world would have to spend 1000 usd /day (Like SR).

DO you see something wrong here?

ps:
http://blockchain.info/charts/estimated-transaction-volume-usd?daysAverageString=7 (Forum warning: Possible phishing link!)

Then compare the turnover of two businesses - Gox and SR. Which do you think is higher?

[niothor]

Silk Road? They move aprox. $1.2M per month.

Trading volume at Gox in the last 30 days is $238,479,686.66

So, come on, who are the other "criminals" using Bitcoin and moving twenty times more than Silk Road monthly? Please let me know, and please include figures, facts and sources to your groundless speculations.

And BTW, you may be tempted to say that the rest of volume in BTC's economy is just speculators trading? Well, AFAIK trading is a "legit" business - isn't it?

You're messing up trade volume on an exchanger with sales between two people.
Forex is doing $3.98 trillion /day  more than the revenue of the 10 biggest companies in the world /year.

Besides , I can say for sure that there were at least4 orders over 50k usd  SR:) , this month.

I'm not messing that up. Sales between two people is one thing - trades between two peoples (or bots) is a different thing.

But still, Gox is a legitimate business - and their turnover is probably bigger that the one of Silk Road. BTC's economy is not based at all in Silk Road, trading/speculation (which is not "black market", but a legit business) is much bigger and moves more money that "black market" operations in BTC.

Comparing Gox trade volume with the sales on SR is just stupid.
Let me make this easier for you:
Forex ( In our case Gox) is doing almost 4 trilions a day,  in order to match those numbers the people in this world would have to spend 1000 usd /day (Like SR).

DO you see something wrong here?

ps:
http://blockchain.info/charts/estimated-transaction-volume-usd?daysAverageString=7 (Forum warning: Possible phishing link!)

Then compare the turnover of two businesses - Gox and SR. Which do you think is higher?

Answering like you with a stupid question , what do you think is bigger , the turnover of forex or the GDP of the US?
If you like so much to compare honey with condoms!

[Rampion]

Silk Road? They move aprox. $1.2M per month.

Trading volume at Gox in the last 30 days is $238,479,686.66

So, come on, who are the other "criminals" using Bitcoin and moving twenty times more than Silk Road monthly? Please let me know, and please include figures, facts and sources to your groundless speculations.

And BTW, you may be tempted to say that the rest of volume in BTC's economy is just speculators trading? Well, AFAIK trading is a "legit" business - isn't it?

You're messing up trade volume on an exchanger with sales between two people.
Forex is doing $3.98 trillion /day  more than the revenue of the 10 biggest companies in the world /year.

Besides , I can say for sure that there were at least4 orders over 50k usd  SR:) , this month.

I'm not messing that up. Sales between two people is one thing - trades between two peoples (or bots) is a different thing.

But still, Gox is a legitimate business - and their turnover is probably bigger that the one of Silk Road. BTC's economy is not based at all in Silk Road, trading/speculation (which is not "black market", but a legit business) is much bigger and moves more money that "black market" operations in BTC.

Comparing Gox trade volume with the sales on SR is just stupid.
Let me make this easier for you:
Forex ( In our case Gox) is doing almost 4 trilions a day,  in order to match those numbers the people in this world would have to spend 1000 usd /day (Like SR).

DO you see something wrong here?

ps:
http://blockchain.info/charts/estimated-transaction-volume-usd?daysAverageString=7 (Forum warning: Possible phishing link!)

Then compare the turnover of two businesses - Gox and SR. Which do you think is higher?

Answering like you with a stupid question , what do you think is bigger , the turnover of forex or the GDP of the US?
If you like so much to compare honey with condoms!

The point is that trading/speculation is a much bigger business than anything else - both in BTC and the FIAT economy. And it's a legit business.

Or maybe you are suggesting that Gox or Forex are not businesses?

[niothor]

The point is that trading/speculation is a much bigger business than anything else - both in BTC and the FIAT economy. And it's a legit business.

Or maybe you are suggesting that Gox or Forex are not businesses?

THIS is what I'm telling you , that no legit bussines or ilegit or what do you want it to call can match in turnover the volume of an exchanger!!!!!!!!!
So , there is no point in comparing Gox volume with anythink else besides bitstamp.

I can go to gox , sell , buy , sell , buy 1000btc , do this 10 times a day , then withdraw my btc and spend them..
I have 1000 and something (my tarde profit)  to spend but on the trade volume I left a mark of 10 000.


If you want to prove SR  is not the core of bitcoin economy match it with bitpay numbers.

[Rampion]

The point is that trading/speculation is a much bigger business than anything else - both in BTC and the FIAT economy. And it's a legit business.

Or maybe you are suggesting that Gox or Forex are not businesses?

THIS is what I'm telling you , that no legit bussines or ilegit or what do you want it to call can match in turnover the volume of an exchanger!!!!!!!!!
So , there is no point in comparing Gox volume with anythink else besides bitstamp.

I can go to gox , sell , buy , sell , buy 1000btc , do this 10 times a day , then withdraw my btc and spend them..
I have 1000 and something (my tarde profit)  to spend but on the trade volume I left a mark of 10 000.

Niothor, I get what you say - what I'm trying to explain to the FUD-spreader trolls is that BTC is not just black market and illegal businesses. In fact, SR's turnover is a drop in the ocean compared to BTC's market capitalization, which is 99% driven by speculation and trading. Which is, AFAIK, a legit business. Probably Gox generates more legit operative profit than SR, and even if they are two different kind of businesses, Gox it's still a business. Do you agree?

Then, apart from Silk Road you have gambling - SatoshiDice counts for 50% of all the BTC transactions. And gambling may be illegal (or semi-illegal) in the US, but is a legal business in many other countries, including the vast majority of western world.

[niothor]

I never had a problem with your reasoning , just with the numbers , that enourmous trade volume wich eclipsed the whole bitcoin economy.

But ,as a sidenote ,  until we get some numbers from bitpay (which they have to make public at leats at the end of the year), I bet that SR beats the crap out of them. 

[Rampion]

I never had a problem with your reasoning , just with the numbers , that enourmous trade volume wich eclipsed the whole bitcoin economy.

But ,as a sidenote ,  until we get some numbers from bitpay (which they have to make public at leats at the end of the year), I bet that SR beats the crap out of them.  

Yeah. Except when Avalon releases their shit. The month with highest volume (by far) for Bitpay was March 2013, with +$5.2M... 95% of that volume was people paying BTC to Avalon for their batch #3 ASIC miners.

And BTW, that's another legitimate BTC business that may very well kick SR's ass in the near future: the sale of ASIC mining equipment.

[niothor]

I never had a problem with your reasoning , just with the numbers , that enourmous trade volume wich eclipsed the whole bitcoin economy.

But ,as a sidenote ,  until we get some numbers from bitpay (which they have to make public at leats at the end of the year), I bet that SR beats the crap out of them.  

Yeah. Except when Avalon releases their shit. The month with highest volume (by far) for Bitpay was March 2013, with +$5.2M... 95% of that volume was people paying BTC to Avalon for their batch #3 ASIC miners.

And BTW, that's another legitimate BTC business that may very well kick SR's ass in the near future: the sale of ASIC mining equipment.

Not solar panels and windmills?

[creativex]

IC you didn't get the memo. The newbie crew says Coinbase, Bitpay, & Bitspend don't exist.

Woooooow !
That's quite impressive!

Not as impressive as my dick, but quite impressive.

Coinbase + Bitpay + Bitspend !!!! And tomorow, the world....

Brilliant retort. Clearly you've been spending too much time espousing the virtues of your own dick and far too little time in maths class.

What figures?
You've just provided them  

Bitcoin actual value = Drug Deal + Speculation + 0.0000001%

Don't worry, nobody expects complex or accurate maths results from you as everyone understands you only have one free hand to contribute.

[creativex]

ASICMiner's market cap is 400k * 2.48432 = 993,728BTC = $130,059,120.64

...I know...a drop in the bucket compared to SR.

[Rampion]

ASICMiner's market cap is 400k * 2.48432 = 993,728BTC = $130,059,120.64

...I know...a drop in the bucket compared to SR.

Good point, I didn't thought about that.

Maaaan, you can see how crazy BTC is. These "anonymouz guyz of the interwebz", with funny names as "friedcat", built a $130M company in a few months, completely from scratch.

And they are redistributing wealth to their cheerful shareholders, which do not own a single piece of paper - only satoshis sent to their BTC addresses to confirm the amount of shares they own.

Really can't understand how the trolls do not see the revolutionary magic in all this. As I said earlier, IMO they are just butthurt and resented because they did not discover BTC earlier

[trepper]

Really can't understand how the trolls do not see the revolutionary magic in all this.

I have a rational hypothesis about this: the so-called trolls don't have bitcoin, so they can't buy drugs on SR, so they can't hear your inner magical revolutionary voices.
And they miserably miss the point.
Fortunately, that's not your case.

[TimJBenham]

You're messing up trade volume on an exchanger with sales between two people.
Forex is doing $3.98 trillion /day  more than the revenue of the 10 biggest companies in the world /year.

That is a valid distinction. The forex trade exists because of the real economy. If there were no real economy in USD the forex trade in the USD would not exist. (OTOH the USD real economy could exist without the forex trade) You and I could invent a new currency. Say we both chip in $10k fiat and then forex trade the fiat against a new currency between ourselves a thousand times a second. The nominal value of these trades could exceed the US GDP, but it would not be real economic activity.

[creativex]

Really can't understand how the trolls do not see the revolutionary magic in all this.

I have a rational hypothesis about this: the so-called trolls don't have bitcoin, so they can't buy drugs on SR, so they can't hear your inner magical revolutionary voices.
And they miserably miss the point.
Fortunately, that's not your case.

Another fine post...bravo.

Please also consider those that have some Bitcoins, don't use drugs, don't give a crap about SR, AND still engage in Bitcoin commerce on a daily basis. I can assure you these people exist. Try to step out of your box and look around. The Bitcoin economy is in it's infancy, but it clearly exists...yes even beyond the borders of SR.

[trepper]

Try to step out of your box and look around.

Maybe you should apply to yourself this fine advice and step out of your bitcoin cult.
Have you ever noticed how stupidly agressive you and all your bitcoinbull friends become as soon as someone post anything critical about your beloved coin ?

[becoin]

Have you ever noticed how stupidly agressive you and all your bitcoinbull friends become

Stand in front of a mirror and you'll see the stupidly aggressive bitcoinbull fighter!

[creativex]

Try to step out of your box and look around.

Maybe you should apply to yourself this fine advice and step out of your bitcoin cult.
Have you ever noticed how stupidly agressive you and all your bitcoinbull friends become as soon as someone post anything critical about your beloved coin ?

You're not saying anything. You spout off statistics that have been pulled from your posterior and therefore you cannot back up. Now you say Bitcoin is a "cult" with "stupidly agressive" something. What does that even mean? Even after translating to proper spelling I don't know what you're trying to say.

Fiat sucks, because centrally planned and controlled currencies are always abused by governments. I like Bitcoin because it is not controlled and diluted everyday because someone at FRBNY wants a bigger boat, but I hardly think that qualifies me as a "stupidly agressive" "cultist". Perhaps you could explain your sensationalism?

Your assertions that Bitcoin exists only to serve the deep web has been debunked to my satisfaction. There's clearly a legitimate economy growing up around Bitcoins, so how are people that engage in this economy "cultists" exactly?

[trepper]

I like Bitcoin because it is not controlled and diluted everyday because someone at FRBNY wants a bigger boat, but I hardly think that qualifies me as a "stupidly agressive" "cultist". Perhaps you could explain your sensationalism?

Apart from your ventriloquy and your compulsion to call "troll" anyone who disagrees with your own views, your last post is the perfect illustration of your paranoid fanatism.

[creativex]

I like Bitcoin because it is not controlled and diluted everyday because someone at FRBNY wants a bigger boat, but I hardly think that qualifies me as a "stupidly agressive" "cultist". Perhaps you could explain your sensationalism?

Apart from your ventriloquy and your compulsion to call "troll" anyone who disagrees with your own views, your last post is the perfect illustration of your paranoid fanatism.

Pro. Now could you address my comments?

You're not saying anything. You spout off statistics that have been pulled from your posterior and therefore you cannot back up. Now you say Bitcoin is a "cult" with "stupidly agressive" something. What does that even mean? Even after translating to proper spelling I don't know what you're trying to say.

Fiat sucks, because centrally planned and controlled currencies are always abused by governments. I like Bitcoin because it is not controlled and diluted everyday because someone at FRBNY wants a bigger boat, but I hardly think that qualifies me as a "stupidly agressive" "cultist". Perhaps you could explain your sensationalism?

Your assertions that Bitcoin exists only to serve the deep web has been debunked to my satisfaction. There's clearly a legitimate economy growing up around Bitcoins, so how are people that engage in this economy "cultists" exactly?

Please note the conspicuous absence of the word "troll" in my posts above ^^^. I've already put the person I was referring to at the time on ignore. If he's your bud and I hurt your feelings by putting him on ignore...well tough.