How long before the price tanks sharply because Silk Road is down?

notme

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Quote from: ?? on ??

Is it really down?

Two posts above yours:

Quote from: notme on November 23, 2012, 11:12:39 PM

Quote from: niko on November 23, 2012, 09:06:17 PM

What is the lesson we learned from the title of this thread and the past two weeks of bitcoin price?

We learned that SR was down for only two days and the majority of this thread is a waste of disk space and bandwidth.

thebaron

sr. member

Activity: 434

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Quote from: niko on November 23, 2012, 09:06:17 PM

What is the lesson we learned from the title of this thread and the past two weeks of bitcoin price?

That when SR goes down, the supply of BTC goes down because sellers are unable to cash out. Therefore, the price goes up.

It would be interesting to see what would happen to the price if it was down for a month. Not sure how it would go either way.

notme

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Quote from: niko on November 23, 2012, 09:06:17 PM

What is the lesson we learned from the title of this thread and the past two weeks of bitcoin price?

We learned that SR was down for only two days and the majority of this thread is a waste of disk space and bandwidth.

niko

hero member

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There is more to Bitcoin than bitcoins.

What is the lesson we learned from the title of this thread and the past two weeks of bitcoin price?

adamstgBit

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Trusted Bitcoiner

Quote from: Crypt_Current on November 20, 2012, 01:46:41 PM

Quote from: BC12345 on November 16, 2012, 07:48:35 PM

Registration for new members is open again.

buy buy buy??

Grin

time is now

Crypt_Current

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Shame on everything; regret nothing.

Quote from: BC12345 on November 16, 2012, 07:48:35 PM

Registration for new members is open again.

buy buy buy??

Grin

BC12345

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Registration for new members is open again.

molecular

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Quote from: ArticMine on November 15, 2012, 01:40:08 AM

Quote from: adamstgBit on November 14, 2012, 06:43:04 PM

Quote from: ArticMine on November 14, 2012, 06:16:02 PM

When it comes to Bitcoin online retail there is a new player in town. http://www.bitcoinstore.com/ which can have a greater market impact on the BTC / USD rate than SilkRoad, and without the "legal" issues.

I only wish their was a Canadian version of this kind of site....

shipping is just to damn high for International shipping

They have added USPS as an option and now shipping rates a very reasonable and competitive.

who cares about shipping cost when all products cost 0.0 BTC ;-)

mem

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Herp Derp PTY LTD

Quote from: thebaron on November 10, 2012, 10:20:43 AM

If it continues to be down, this weekend? Next week?

as long as it takes to churn to a new hosting company again.

Beans

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Quote from: ArticMine on November 14, 2012, 06:16:02 PM

When it comes to Bitcoin online retail there is a new player in town. http://www.bitcoinstore.com/ which can have a greater market impact on the BTC / USD rate than SilkRoad, and without the "legal" issues.

There have been sites like that one for a long time. The one your referring to has the worst java script I have seen a while. It's not going to amount to anything.

ArticMine

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Monero Core Team

Quote from: adamstgBit on November 14, 2012, 06:43:04 PM

Quote from: ArticMine on November 14, 2012, 06:16:02 PM

When it comes to Bitcoin online retail there is a new player in town. http://www.bitcoinstore.com/ which can have a greater market impact on the BTC / USD rate than SilkRoad, and without the "legal" issues.

I only wish their was a Canadian version of this kind of site....

shipping is just to damn high for International shipping

They have added USPS as an option and now shipping rates a very reasonable and competitive.

MysteryMiner

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Death to enemies!

Quote from: molecular on November 14, 2012, 01:57:57 AM

Quote from: MysteryMiner on November 13, 2012, 02:52:47 PM

Quote from: theymos on November 10, 2012, 04:07:02 PM

DoS attacks are really easy against Tor hidden services. The service can't block the attacker because all clients are anonymous. Tor hidden service introduction points can sometimes also be DoS-attacked. I wouldn't use Tor to run a site like this.

Theymos You shocked me! Where You will host Silk Road if not Tor for it to not be found and taken down? Freenet, I2P?

The .onion server cannot block the anonymous traffic, but also the attackers cannot utilize several orders of magnitude superior bandwidth because they are forced to use Tor and nodes have varying speeds. They can set up own nodes and force Tor to connect though them but even then only the guard nodes will be DDoSed.

With clearnet server also the blocking helps only partially. With powerful enough botnet the upstream links will fail. If someone set us up the botnet, we are on our way to destruction

If botnet was used to setup tor nodes. How many would be necessary to locate silkroad server? Is that possible?

Silk Road probably have configured guard nodes and not selected on random. I don't know exactly how many nodes will take to compromise majority of circuits but it will require hundreds or even thousands of nodes. Ant the compromising of Tor by single entity holding majority of relays will help only against clearnet traffic going trough Tor. For hidden services timing attack is still best that can be done. I'm not expert on this maybe someone can explain more on this subject.

Try to guess why the Tor network have become much much faster then it was ever before?

And the SR is up and running as well as SR forums. And no major change in price.

niko

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There is more to Bitcoin than bitcoins.

Quote from: GeoRW on November 14, 2012, 01:49:47 AM

Quote from: niko on November 10, 2012, 06:07:54 PM

Quote from: ElectricMucus on November 10, 2012, 03:38:13 PM

Quote from: niko on November 10, 2012, 02:12:46 PM

SR volume is a tiny fraction of Bitcoin economy. There are convincing estimates based on the academic study of SR published about four months ago.

I call bullshit on that. If you were writing the truth you'd cite that study in detail. But you didn't.

Two million per month. http://arxiv.org/pdf/1207.7139v1.pdf

That, and welcome to my "ignore" list.

A surprising result is the tight coupling between Silk Road and the Bitcoin market – the daily sales on Silk Road correspond to almost 20% of the average daily volume of USD-BTC exchanges on Mt.Gox, the largest exchange forum.

Doesn't look like SR volume is a tiny fraction of bitcoin economy Wink

The study estimated ~$2M in sales per month. MtGox volume is ~$10M per mo th, being ~65% of the total volume of all "legitimate" exchanges. Add to this OTC. SR is at most 10% of trade volume. Note, most SR merchants would not use AML-compliant exchanges anyway.
Further proving that there is no coupling is the fact that - despite this thread - the price did not sink at all, on the contrary.

adamstgBit

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Trusted Bitcoiner

Quote from: ArticMine on November 14, 2012, 06:16:02 PM

When it comes to Bitcoin online retail there is a new player in town. http://www.bitcoinstore.com/ which can have a greater market impact on the BTC / USD rate than SilkRoad, and without the "legal" issues.

I only wish their was a Canadian version of this kind of site....

shipping is just to damn high for International shipping

ArticMine

legendary

Activity: 2282

Merit: 1050

Monero Core Team

When it comes to Bitcoin online retail there is a new player in town. http://www.bitcoinstore.com/ which can have a greater market impact on the BTC / USD rate than SilkRoad, and without the "legal" issues.

DeathAndTaxes

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Gerald Davis

Quote from: BCB on November 14, 2012, 05:53:17 PM

I'm long.

Tangible Cryptology can't seem to keep coin in stock. You could probably do the math based on his thread updates. If I had to guess he's easily moving up to 10K BTC/week by now.

Other signals here on the boards and IRC that indicate a lot of large private buying is going on.

A little bit more than that but 10K is conservative. Wink

BCB

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BCJ

I'm long.

Tangible Cryptology can't seem to keep coin in stock. You could probably do the math based on his thread updates. If I had to guess he's easily moving up to 10K BTC/week by now.

Other signals here on the boards and IRC that indicate a lot of large private buying is going on.

molecular

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Quote from: BCB on November 14, 2012, 03:46:08 PM

How long before the price tanks sharply because Silk Road is down?

Demand for small transactions are down both here and on OTC - probably because of SR.

There has also been very little movement in the price (despite Kentroller's minor pump and dump efforts on Monday.)

What there has been is a significant amount of off-marketing buying.

how do you know there is significant off-market buying?

Quote from: BCB on November 14, 2012, 03:46:08 PM

We'll see big price movements soon.

The direction is relevant ;>.

I agree there will be volatility not seen for a long time and I've stated I believe the upside will win.

BCB

vip

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BCJ

How long before the price tanks sharply because Silk Road is down?

Demand for small transactions are down both here and on OTC - probably because of SR.

There has also been very little movement in the price (despite Kentroller's minor pump and dump efforts on Monday.)

What there has been is a significant amount of off-marketing buying.

(Why is TC always out of coin??).

We'll see big price movements soon.

molecular

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Quote from: mike.wolf on November 14, 2012, 04:17:13 AM

I think something among the line that BTC transactions can be either scams or not. Like Schrödinger's cat being either dead or alive, you can't really tell unless you open the box.

You mean like in ElectricMucus' signature?

Topic: How long before the price tanks sharply because Silk Road is down? (Read 10707 times)