Silk Road sale.... BTC explosion.

[gewure]

the silkroad offsale will drop the price the next days (sellers are likely to exchange there winnings) and since buyers spent alot of bitcoin they will buy them back some time later and increase the price back to its balanced level.

-> this is a win-win situation for the bitcoin economy, therefor good bullish news.

[1715438783]

1715438783

[buck92]

I believe I read somewhere that silkroad hedges to dollars when the buyer buys, and back to bitcoin when the buyer marks as delivered and they need to pay the seller.  If that's true, I'd expect slight downward pressure during the sale, and upward pressure over the coming weeks as people's deliveries arrive.

Only if a vendor chooses to use the service, SR charges a fee to hedge a purchase like this in US dollars on top of their standard fee so not everybody uses it.

[notme]

I believe I read somewhere that silkroad hedges to dollars when the buyer buys, and back to bitcoin when the buyer marks as delivered and they need to pay the seller.  If that's true, I'd expect slight downward pressure during the sale, and upward pressure over the coming weeks as people's deliveries arrive.

Only if a vendor chooses to use the service, SR charges a fee to hedge a purchase like this in US dollars on top of their standard fee so not everybody uses it.

Thanks for the clarification.

[dropt]

Just a headsup, if any of you head over to their forums to find info, don't wonder off of their forums.

What do you mean?

[AndDuffy]

Just a headsup, if any of you head over to their forums to find info, don't wonder off of their forums.

What do you mean?

Don't go Toring where you shouldn't be.

[duckfeet]

On SR, btc is just a currency: many of us do not immediately change it back to our local money, but keep it stashed, either on SR, or in some other online site.  Takes a bit of research to figure it all out...my suggestion is to get on SR forums, and study up a bit, before doing anything else...all these sort of bitcoin questions have been discussed at length.  Again, SRforums have plenty of stickies and there are friendly members who will help out.  I wouldn't do any transactions on main site until going there.  But there have been ripoffs, of drug and bitcoin buyers, both, so study up a bit...it's considered part of 'paying your dues,'...best wishes...

[John (John K.)]

Just a headsup, if any of you head over to their forums to find info, don't wonder off of their forums.

What do you mean?

Don't go Toring where you shouldn't be.

What on Earth are you on about?

+1
Like us getting lost in the big bad TOR-Sea?