Topic: Silk road bust: bearish or bullish? (Read 2009 times)

Do you have a price you are holding til?

I mined my btc with GPUs bought specifically for bitcoin in early 2010.  I have since sold enough bitcoin to cover the hardware and electrical costs, plus I have sold the GPUs as well for about 50% of what I paid.  Even if every bitcoin I have is worthless, I have taken more USD out than I put in.

How's that work? Free electric and all mined coins?

If so, your hardware lifespan is reduced, for a very tiny loss at $0 :p

We'll you'd have to see price fall below 0 to put me at a loss .

I think I just like to be a dick. I want to burst every bulls bubble on here.

Who cares?  Restaurants are accepting BTC.

Nobody sells lobster dinners for mtgoxUSD.

.... So why are you here?

BEARISH IN THE MOST EXTREME WAY!

I think all the people who think bitcoins are going to revolutionize the world are the ones on drugs. Its a boiler room scam that several exchanges are making a boatload of money off of. Any recourse if anything goes wrong? NO! Have fun!

It has absolutely nothing to do with a "bad association being removed." People are stupid but they at least realize that just becuase SR was shut down (because of n00b errors on the part of DPR) doesn't mean all of a sudden no one will buy drugs with bitcoins anymore... Napster was shutdown and let's talk about how illegal music downloading was completely stopped after that... lol.

No, the reason this is bullish for the price is simply that all the "silk road rider" trolls/faggots were COMPLETELY schooled. You know, the people who came on here posting about how bitcoin price "rides on silk road" and if not for folks buying BTC to order heroin, the exchange rate would be... what were some of the estimates... $5, $10, $30... yes, people actually claimed that without Silk Road's volume, the "actual economy" behind Bitcoin would only support single digit prices.

So now that they've all been proven completely wrong, we can get on with business.

Now we just have to get rid of the "BTC price is completely based on speculation" whiners. That's a different case altogether. It's not that they're wrong, per se, it's just that it doesn't fucking matter one bit. Doesn't 1% of the US population own 40% of the dollars? Are they not speculators? Just so happens that they have moved onto bigger markets to manipulate (multi-quadrillion dollar derivatives markets, etc.) What about gold? You can't even use that to buy shit unless you're at porcfest or a few backwoods shops in Arizona. How are its current buyers and sellers anything BUT speculators? Where is this perfect speculation-proof (paradoxical) asset/commodity/currency that the whiners have discovered and now use for all their purchases? Show me an up-and-coming commodity, currency, asset, or stock that does not attract speculators and I'll show you a flying turtle. The "speculators = bad" people are just like the "saving/hoarding = bad" people. Speculating is just a natural part of a market. Speculators distort price moves, sure, but you can't exactly draw a line between how much of the move was "speculation" and how much was "whatever the fuck else."


Rant over. Silk Road over. "Silk Road Rider" bitches put in their place. Let's move on and school some more whiny keynesian douchebags. $900 CNY here we come.

this is how it works.

First they troll you
Then they laugh at you
then they send in the FEDs
then you become insolvent.

this is how it works.

First they troll you
Then they laugh at you
then they send in the FEDs
then you become insolvent.

I predict if the FBI coins are sold at any point it will be done at another key technical area, to again try and break price down.

Then they lose

Yes, of course, and meth busts are sign that government agencies want to store meth