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Topic: How long before the price tanks sharply because Silk Road is down? (Read 10639 times)

legendary
Activity: 1904
Merit: 1002
Is it really down?

Two posts above yours:
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.
sr. member
Activity: 434
Merit: 250
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.
legendary
Activity: 1904
Merit: 1002
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.
hero member
Activity: 756
Merit: 501
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?
legendary
Activity: 1904
Merit: 1037
Trusted Bitcoiner
hero member
Activity: 686
Merit: 500
Shame on everything; regret nothing.
Registration for new members is open again.

buy buy buy??

 Grin
newbie
Activity: 57
Merit: 0
Registration for new members is open again.
donator
Activity: 2772
Merit: 1019
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
hero member
Activity: 644
Merit: 501
Herp Derp PTY LTD
If it continues to be down, this weekend? Next week?

as long as it takes to churn to a new hosting company again.
hero member
Activity: 518
Merit: 500
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.
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.

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.
legendary
Activity: 1470
Merit: 1029
Show middle finger to system and then destroy it!
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 Smiley

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.
hero member
Activity: 756
Merit: 501
There is more to Bitcoin than bitcoins.
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.
legendary
Activity: 1904
Merit: 1037
Trusted Bitcoiner
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
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.
donator
Activity: 1218
Merit: 1079
Gerald Davis
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
vip
Activity: 1078
Merit: 1002
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.

donator
Activity: 2772
Merit: 1019
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?

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
Activity: 1078
Merit: 1002
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.
donator
Activity: 2772
Merit: 1019
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?
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