Topic: Silk road bust: bearish or bullish? - page 2. (Read 2009 times)

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

I voted bullish, but not for reason given. I think its bullish because it shows us government agencies are starting to take an interest in possessing and hoarding bitcoins.

this.
it's just the beginning, many consumers of drugs heard for the first time that there's the possibility to buy drugs online. (many despise their dealer around the corner because of ridiculous prices and bad quality)
After napster came kazaa, edonkey, emule etc. followed by the torrent network and lots of filehosters.

In this case bad news are good news.
On one hand this has kind of whitewashed bitcoin for the public and in future media coverage can show that it's about more than just drugs and gambling
on the other hand pandora's box is wide open and marketsystems like SR will spread like mushrooms in tor network. (there are already two other markets according to reddit)

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.

My fear is eventually crime syndicates with resources and know how that eclipses that of the hopelessly amateur DPR, will eventually set up shop on TOR and make SR look like a corner store beside Wal-mart.

It's bullish, but not because a dangerous association has been removed, because it hasn't. It's not like with the removal of silk road people will suddenly stop buying drugs with bitcoins. It will have the same effect as what shutting down Napster did to downloading.

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