Topic: End of Silk Road is good for the long run - page 3. (Read 3349 times)
The only regret I have is, I never actually visited SR before. I always tell myself, I got to see what it's like. I guess, I will never know now.
There are already established clones. You can't do much worse than have a operator who was visited by DHS in July, volunteered information about buying fake ID through SR, and apparently still thought himself untouchable enough to continue business as usual (either that, or he isn't the anarchist we thought he was). So yes - SR's disappearance is good long-term for using BTC to purchase illicit goods online, because I can't imagine much worse.
I think the same too. Its closing is a good thing for the bitcoin ecosystem.
Furthermore, the long run could be shorter than what we currently think.
Furthermore, the long run could be shorter than what we currently think.
I agree. As long as law enforcement thought people could be truly anonymous online they would fight bitcoin. If anything this should confirm the governments ability to handle this new sphere of technology and thus not be so paranoid about it.
Yes, exactly my thoughts. This will create a whole new vibe among the senators and law makers that know little about bitcoin. All they will hear is 'so honest businesses can use Bitcoin AND we can catch the drug trafficing users. Great!' 
I agree. As long as law enforcement thought people could be truly anonymous online they would fight bitcoin. If anything this should confirm the governments ability to handle this new sphere of technology and thus not be so paranoid about it.
Many people associated BTC with drugs and illegal activity. Once the smoke settles, BTC will be partially absolved of the obvious user of such activities. All that remains for MSM to broadcast are white activities and it will get more people interested in investing. Unfortunately we will have to wait for as much as a few months before consolidation is complete. The wise are probably getting their dry powder ready and getting the fishing hooks ready at different levels like $80, $70, $50, etc.
I think we are already near bottom.
Another site will pop up to take over Silk Road's business. This one won't be located in the US and the owners will be even more careful. There is a lot of money to be make in the black market and it's not going to disappear just because one site got busted.
Many people associated BTC with drugs and illegal activity. Once the smoke settles, BTC will be partially absolved of the obvious user of such activities. All that remains for MSM to broadcast are white activities and it will get more people interested in investing. Unfortunately we will have to wait for as much as a few months before consolidation is complete. The wise are probably getting their dry powder ready and getting the fishing hooks ready at different levels like $80, $70, $50, etc.
I think we are already near bottom.
Another site will pop up to take over Silk Road's business. This one won't be located in the US and the owners will be even more careful. There is a lot of money to be make in the black market and it's not going to disappear just because one site got busted.
Yes others will come. I'm just glad the USA law enforcement feels secure in their own territory about this. If bitcoin can exist legally and they can do their jobs, it gives them less reason to fight it.
Many people associated BTC with drugs and illegal activity. Once the smoke settles, BTC will be partially absolved of the obvious user of such activities. All that remains for MSM to broadcast are white activities and it will get more people interested in investing. Unfortunately we will have to wait for as much as a few months before consolidation is complete. The wise are probably getting their dry powder ready and getting the fishing hooks ready at different levels like $80, $70, $50, etc.
I think we are already near bottom.
Another site will pop up to take over Silk Road's business. This one won't be located in the US and the owners will be even more careful. There is a lot of money to be make in the black market and it's not going to disappear just because one site got busted.
I believe so also, I posted this in another thread. I'm glad this has happened. It shows the law enforcement and the tax man that they can handle both illegal and legal uses of bitcoin. I've always disliked the SR media coverage and association with bitcoin. Others will fill the gap, they already exist, but they will think twice and may very well get caught themselves.
Many people associated BTC with drugs and illegal activity. Once the smoke settles, BTC will be partially absolved of the obvious user of such activities. All that remains for MSM to broadcast are white activities and it will get more people interested in investing. Unfortunately we will have to wait for as much as a few months before consolidation is complete. The wise are probably getting their dry powder ready and getting the fishing hooks ready at different levels like $80, $70, $50, etc.
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