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cuddaloreappu (OP)
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November 06, 2014, 05:08:10 PM |
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The events unfolding are very similar,
So will this silk road 2 fall take bitcoin to greater heights?
Something we have to wait and see
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bbit
Legendary
 Offline
Activity: 1330
Merit: 1000
Bitcoin
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November 06, 2014, 05:08:57 PM |
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The events unfolding are very similar,
So will this silk road 2 fall take bitcoin to greater heights?
Something we have to wait and see
$500 by the end of the day. |
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SpanishSoldier
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November 06, 2014, 05:19:02 PM |
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The events unfolding are very similar,
So will this silk road 2 fall take bitcoin to greater heights?
Something we have to wait and see
As per https://en.wikipedia.org/wiki/Silk_Road_(marketplace) SR 2.0 started on November 6, 2013. Exact 1 year and now it has been taken down while BTC is very low. Coincidence ? |
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biggus dickus
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November 06, 2014, 11:02:29 PM |
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I suspect the publicity bitcoin got when the first silk road was taken down might have helped create a bubble. Maybe the same thing will happen now a second silk road has been taken down.
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Raystonn
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November 06, 2014, 11:06:37 PM |
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I suspect the publicity bitcoin got when the first silk road was taken down might have helped create a bubble. Maybe the same thing will happen now a second silk road has been taken down.
This one will be due to the publicity after the government fails to seize the Bitcoins from the multisig wallet. SR2 servers only store 1 of 3 keys. From what I understand, the buyer and seller have the other 2, and 2 keys are needed to get the coins. So they will fail to take the coins. After that, people with money to keep safe will realize the value of Bitcoin. |
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fewcoins
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November 07, 2014, 01:21:15 AM |
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I suspect the publicity bitcoin got when the first silk road was taken down might have helped create a bubble. Maybe the same thing will happen now a second silk road has been taken down.
This one will be due to the publicity after the government fails to seize the Bitcoins from the multisig wallet. SR2 servers only store 1 of 3 keys. From what I understand, the buyer and seller have the other 2, and 2 keys are needed to get the coins. So they will fail to take the coins. After that, people with money to keep safe will realize the value of Bitcoin. Exactly! We should have a great rally this month, lets see! Double bottom at $300 looks promising |
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abercrombie
Legendary
Offline
Activity: 1159
Merit: 1001
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November 07, 2014, 02:21:27 AM |
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Silk road fall led to nov 2013 bubble! Silk road 2 fall leads to?
A high of 353.1 before crashing down to earth.... |
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Cassie.Jill
Member
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Activity: 83
Merit: 10
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November 07, 2014, 02:42:20 AM |
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2013 bubble was led by Silk road fall?
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TaunSew
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November 07, 2014, 03:37:17 AM |
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2013 bubble was led by Silk road fall?
Most people think so. Silk Road did like 10 million Bitcoin in revenue and had like 150,000 - 200,000 Bitcoins in their system. If you do the math then you realize Silk Road was likely majority of Bitcoin's volume and yet all those coins were removed from circulation and this scarcity of available coins led to a bidding war for what bitcoins remained. I think this was counteracted, in the end, when whales hibernating since 2009 awoke and started to dump. |
There ain't no Revolution like a NEMolution. The only solution is Bitcoin's dissolution! NEM!
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scryptasicminer
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November 07, 2014, 04:02:36 PM |
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The events unfolding are very similar,
So will this silk road 2 fall take bitcoin to greater heights?
Something we have to wait and see
Is there another market as big as china to rally the coin up 12 folds? |
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sumantso
Legendary
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Activity: 1050
Merit: 1000
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November 07, 2014, 04:34:36 PM |
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How is it similar? We haven't seen the flash crash.
Silk Road bust was huge news, this is just meh. Besides, at that time it held a lot of percentage of actual BTC use.
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riiiiising
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November 07, 2014, 04:51:25 PM |
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I don't get the feeling that people really care about bitcoin anymore. Look at Apple Pay... even with the backing of Apple, it still can't get into many stores because of strict contracts and partnerships between businesses and their payment processors. What makes you think bitcoin will ever make any headway into this realm, with nobody pushing for it aside from a handful of geeks and a guy who lives in a castle in Estonia?
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freedomno1
Legendary
Offline
Activity: 1806
Merit: 1090
Learning the troll avoidance button :)
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November 07, 2014, 05:45:03 PM |
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The events unfolding are very similar,
So will this silk road 2 fall take bitcoin to greater heights?
Something we have to wait and see
Unknown quantified effect In other words I have no idea could just be shoring up for a new run though What I do know is that the 3rd generation of Silk Roads will become more powerful than the ones we have currently |
Believing in Bitcoins and it's ability to change the world
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Mervyn_Pumpkinhead
Legendary
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Activity: 876
Merit: 1000
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November 07, 2014, 05:47:40 PM |
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This leads DRK up, and it leads BTC to.. well nowhere. BTCs price is high enough to be influenced only by the legal field, and this field is stagnating around BTC.
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cryptoservices
Newbie
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Activity: 18
Merit: 0
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November 07, 2014, 05:47:53 PM |
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I think they only seized a million dollars in Bitcoin, so not really spectacular.
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ScreamnShout
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November 09, 2014, 08:51:28 AM |
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How is it similar? We haven't seen the flash crash.
Silk Road bust was huge news, this is just meh. Besides, at that time it held a lot of percentage of actual BTC use.
I haven't even seen an address where the seized coins have been transferred to (maybe the government was not able to locate the private keys to the coins held by SR2?). I don't think this should come as a huge surprise to anyone as it should have been known that law enforcement was going to attempt to find the operators of silk road, plus the fact that it was clearly getting attacked ~a month ago |
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ssmc2
Legendary
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Activity: 2002
Merit: 1040
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November 09, 2014, 02:08:25 PM |
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SR2 wasn't the most used DNM or even the 2nd.
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ElectricMucus
Legendary
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Activity: 1666
Merit: 1057
Marketing manager - GO MP
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November 09, 2014, 02:26:28 PM |
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The Bitcoin economy has grown tremendously in the past 12 months.
By what metric? SR2 wasn't the most used DNM or even the 2nd.
By what metric? |
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3x2
Legendary
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Activity: 1526
Merit: 1004
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November 09, 2014, 02:31:21 PM |
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Leads to nothing
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poncom
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November 09, 2014, 02:55:14 PM |
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Silk road fall led to nov 2013 bubble! Silk road 2 fall leads to?
A high of 353.1 before crashing down to earth.... No, the price just seems to be oscillating up and down at present. Today's high is 360 up to now. |
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