Do you see Silk Road's closure as a positive or negative? - page 4.

TheButterZone

legendary

Activity: 3038

Merit: 1032

RIP Mommy

Quote from: CrazyRabbi on October 07, 2013, 07:48:00 AM

lulz...

So why is the Bitcoin price up by $20 then?

Depends on when/where your goalpost is set.

At MtGox the day before the SR shutdown, the price was hovering just over $140 USD. The day of the shutdown, IIRC it dropped to around $110.

Today's USD low is $135.12, high $139.

"Up by $20", to me, would mean the price is just over $160 USD.

redtwitz

full member

Activity: 231

Merit: 100

Definitely not negative.

The people I've talked to about Bitcoins fit in two categories:

1. Those that never heard of Bitcoins.
2. Those that knew Bitcoins could be used to purchase drugs.

Bitcoins mean something else for every person. For anarchists, criminals and drug users, it means an anonymous (or at least pseudonymous) way of making purchases. For others (me included), it means a way to store and spend money that doesn't depend on the good will of governments, banks and services like PayPal (which just decided that I can't use my account to make eBay purchases, since I don't live in the same country as my shipping address).

So, if Silk Road's closure will have an impact depends on whether it gets replaced by a similar market. If it does, the will be no long-term impact. If it doesn't, it will be positive.

illpoet

sr. member

Activity: 341

Merit: 250

i find it to be a positive thing because it did show that bitcoin doesn't need silk road to be valuable. it also shows that the fbi can shut down one site and stop very little. the most positive thing in my opinion tho is i have some new entertainment looking at blockchain.info

desired_username

hero member

Activity: 886

Merit: 1013

I find it positive because many more sites will appear. In the end even the last idiot will acknowledge that "war on drugs" is idiotic and highly illogical and all substances will be decriminalized.

When we look back, there will be a line that bitcoin helped to achieve this and ultimately better our civilization.

Do not forget that the governments create black trade and probably they profit from it the best. This profit could go to better the lives of the very people governments INTENDED to serve.

mises

sr. member

Activity: 352

Merit: 250

600k BTC? That's like a real life Heisenberg

lucasjkr

hero member

Activity: 644

Merit: 500

Question:

I know there were tumblers for moving money in and out of sr, but what about transactions within sr? Did they occur on the block chain? Or was it done by recording transfers internally until such point as a withdrawal request could be made?

If it's the first, I could imagine a detrimental impact on bitcoin, in that a sizable number of transactions are not going to be occurring any longer, and all those transactions aided in price discovery.
That can easily be made up for with more transactions elsewhere in the block chain, but it seems like dpr might have been the single largest owner of bitcoins and silkroad might have dwarfed every other site but mtgox interms of how many transactions were occurring on the block chain. Certainly that'll cause some form of impact ?

I mean, some might say that dpr's large stash can be discounted out if the market cap, considered "lost ". But we can't do that because who knows, maybe someone else has control of them already? Or maybe after trials over, he'll be able to relay a method of access so that someone can retrieve them.

darkmule

legendary

Activity: 1176

Merit: 1005

Quote from: ?? on ??

The initial aggressor is the group which outlaws mutual voluntary trade of various goods in order to line their own pockets. Everything following that initial aggression is cause and effect.

So if I somehow pissed off DPR and he had me murdered, that wouldn't be his fault. It would be the fault of some random other guy. Okay. Got it.

darkmule

legendary

Activity: 1176

Merit: 1005

Quote from: dank on October 07, 2013, 11:41:44 AM

Silk Road is a market place of freedom and showed just how viably society can function without some dictating body in place.

With liberty and hitmen for all who piss me off!

How dare dat eebil gummint tell me I can't administer a harmless dose of lead to whoever gets in the way of my profits?

vpitcher07

sr. member

Activity: 342

Merit: 250

For worldwide adoption, very positive. For liberty and freedom, very negative. Bitcoin can't be viewed as the currency "to buy drugs with" even if it's not anymore true than fiat currency if you're expecting world wide adoption.

dank

legendary

Activity: 1134

Merit: 1002

You cannot kill love

Quote from: cassieheart on October 02, 2013, 07:13:34 PM

Very Very negative. The community will lose a great number of users if no one steps into fill the gap. BitCoin is all about Anarchy, Freedom and anonymity. I can't believe people in the Bitcoin community are saying this is a positive thing. I think Obama libtards have finally infiltrated the community. Sad sad day this is Sad

What she said.

People deserve safe access to their medicine, no matter how fucked up their laws are. Since when is it up to somebody other than me to chose what goes in my body? Guess that right was lost a while ago.

Silk Road is a market place of freedom and showed just how viably society can function without some dictating body in place.

j68r

member

Activity: 94

Merit: 10

Quote from: ?? on ??

Quote from: cassieheart on October 07, 2013, 03:38:01 AM

Anarchy:a state of disorder due to absence or nonrecognition of authority.Now lets move on.

Anarchy actually means "without rulers". That's it.

Somehow the definition has been expanded to include chaos. Who would benefit from this inclusion? I can only think of one group.

Exactly, the same group that fear real democracy and real free markets, and somewhat paradoxically the same group that never stops bleating on about how they uphold those things. Of course you need to exert total power and control over everyone in order to provide them, isn't that right...

buysellbitcoin

legendary

Activity: 1105

Merit: 1001

https://www.zebpay.com

Very positive.

Regards

darkmule

legendary

Activity: 1176

Merit: 1005

Quote from: rwfreshmore on October 07, 2013, 09:22:55 AM

Anonymous transactions will be left to the authorities and an ever shrinking black market.

That surely hasn't happened in the real world with fiat money, and it seems unlikely to happen with Bitcoin either. There will always be black markets in any functioning currency.

rwfreshmore

jr. member

Activity: 56

Merit: 6

Quote from: ?? on ??

Quote from: rwfreshmore on October 07, 2013, 08:51:32 AM

Quote from: cassieheart on October 02, 2013, 07:13:34 PM

Very Very negative. The community will lose a great number of users if no one steps into fill the gap. BitCoin is all about Anarchy, Freedom and anonymity. I can't believe people in the Bitcoin community are saying this is a positive thing. I think Obama libtards have finally infiltrated the community. Sad sad day this is Sad

It is sad. It's going to get much worse. Bitcoin is the basis of a one world borderless digital currency. Regulation and identity will happen in meatspace by the same people running that now on top of the US dollar. I can't even be bothered arguing this anymore. It's so completely obvious that only the delusional and misinformed would bother debating it. Greed will have people registering their coins and btc addresses in the long run.

Black markets will always exist for outliers and subversives.

Apply your palm to your face you'll feel much better...

I feel great. I think anyone who doesn't accept this is the future of a widely adopted bitcoin is just prolonging the inevitable disappointment. The time of pushing the Satoshi fairytale as a means to promote adoption amongst the anti-central banking crowd is over. You can stop. Bitcoin adoption is happening because people with actual money understand what it is and why authoritarians love it. Can't be counterfeited, management offloaded to users, completely trackable once services are offered that require identity. As the "legitimate" market matures the price will rise and that rise in price will pull early adopters and developers into the legitimate market because of greed. Anonymous transactions will be left to the authorities and an ever shrinking black market.

rwfreshmore

jr. member

Activity: 56

Merit: 6

Quote from: cassieheart on October 02, 2013, 07:13:34 PM

Very Very negative. The community will lose a great number of users if no one steps into fill the gap. BitCoin is all about Anarchy, Freedom and anonymity. I can't believe people in the Bitcoin community are saying this is a positive thing. I think Obama libtards have finally infiltrated the community. Sad sad day this is Sad

It is sad. It's going to get much worse. Bitcoin is the basis of a one world borderless digital currency. Regulation and identity will happen in meatspace by the same people running that now on top of the US dollar. I can't even be bothered arguing this anymore. It's so completely obvious that only the delusional and misinformed would bother debating it. Greed will have people registering their coins and btc addresses in the long run.

Black markets will always exist for outliers and subversives.

RodeoX

legendary

Activity: 3066

Merit: 1147

The revolution will be monetized!

Of course it's positive.
If you don't like the drug laws in the U.S. then get out of your mom's basement and do something about it. Bitcoin is not the nanny you have been waiting for to end social ills. It is a payment system. You are still going to have to fight for your rights one at a time. Bitcoin is also not going to be a tax free anomaly, different from all other appreciating assets. Again, if you don't like the tax laws, write your congressman and stop wasting your time posting here.
The future of bitcoin will be shaped by those who reach out to regulators and businesses, not by those who type with Caps Lock on.

ralree

hero member

Activity: 518

Merit: 500

Manateeeeeeees

I think it's a good thing. Something will take its place anyway, and hopefully someone who doesn't engage in contract murder will run it.

SolidSnke

member

Activity: 74

Merit: 10

Quote from: MerchantMiner on October 07, 2013, 08:37:33 AM

i would like to use bit coins for :

1) Paying Rent
2) Paying Electric & Gas
3) Paying for Grocery's
4) Paying for Games & In Game Content
5) telling the Bank to FUCK OFF with their slave paper and Credit (DEBT)

This is why i do Mining

Agreed!

CrazyRabbi

hero member

Activity: 490

Merit: 500

UNDER NEW MANAGEMENT

Quote from: tarmi on October 07, 2013, 08:35:00 AM

Quote from: CrazyRabbi on October 07, 2013, 08:27:53 AM

I am not...

I'm suggesting SOMEONE is...

some were eager to buy it at 266 $.

that doesnt mean anything.

I really don't get your point...

I've proven to you several times Bitcoins are what WE the people find them to be worth and saying people are buying them at $266 proves exactly that...

I'm not sure what it doesn't mean it clearly means it's worth whatever YOU/WE the people think it is...

MerchantMiner

newbie

Activity: 56

Merit: 0

i would like to use bit coins for :

1) Paying Rent
2) Paying Electric & Gas
3) Paying for Grocery's
4) Paying for Games & In Game Content
5) telling the Bank to FUCK OFF with their slave paper and Credit (DEBT)

This is why i do Mining

Topic: Do you see Silk Road's closure as a positive or negative? - page 4. (Read 8143 times)