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Topic: Silk road fall led to nov 2013 bubble! Silk road 2 fall leads to? - page 2. (Read 3642 times)

legendary
Activity: 1834
Merit: 1094
Learning the troll avoidance button :)
The events unfolding are very similar,

So will this silk road 2 fall take bitcoin to greater heights?

Something we have to wait and see


Unknown quantified effect
In other words I have no idea could just be shoring up for a new run though
What I do know is that the 3rd generation of Silk Roads will become more powerful than the ones we have currently
full member
Activity: 336
Merit: 100
I don't get the feeling that people really care about bitcoin anymore. Look at Apple Pay... even with the backing of Apple, it still can't get into many stores because of strict contracts and partnerships between businesses and their payment processors. What makes you think bitcoin will ever make any headway into this realm, with nobody pushing for it aside from a handful of geeks and a guy who lives in a castle in Estonia?

legendary
Activity: 1050
Merit: 1000
How is it similar? We haven't seen the flash crash.

Silk Road bust was huge news, this is just meh. Besides, at that time it held a lot of percentage of actual BTC use.
full member
Activity: 213
Merit: 100
The events unfolding are very similar,

So will this silk road 2 fall take bitcoin to greater heights?

Something we have to wait and see


Is there another market as big as china to rally the coin up 12 folds?
hero member
Activity: 756
Merit: 506
2013 bubble was led by Silk road fall?

Most people think so.  Silk Road did like 10 million Bitcoin in revenue and had like 150,000 - 200,000 Bitcoins in their system.  If you do the math then you realize Silk Road was likely majority of Bitcoin's volume and yet all those coins were removed from circulation and this scarcity of available coins led to a bidding war for what bitcoins remained.

I think this was counteracted, in the end, when whales hibernating since 2009 awoke and started to dump.


member
Activity: 83
Merit: 10
2013 bubble was led by Silk road fall?
legendary
Activity: 1159
Merit: 1001
Silk road fall led to nov 2013 bubble! Silk road 2 fall leads to?


A high of 353.1 before crashing down to earth....
full member
Activity: 126
Merit: 100
I suspect the publicity bitcoin got when the first silk road was taken down might have helped create a bubble. Maybe the same thing will happen now a second silk road has been taken down.

This one will be due to the publicity after the government fails to seize the Bitcoins from the multisig wallet.  SR2 servers only store 1 of 3 keys.  From what I understand, the buyer and seller have the other 2, and 2 keys are needed to get the coins.  So they will fail to take the coins.  After that, people with money to keep safe will realize the value of Bitcoin.


Exactly! We should have a great rally this month, lets see! Double bottom at $300 looks promising
sr. member
Activity: 364
Merit: 250
I suspect the publicity bitcoin got when the first silk road was taken down might have helped create a bubble. Maybe the same thing will happen now a second silk road has been taken down.

This one will be due to the publicity after the government fails to seize the Bitcoins from the multisig wallet.  SR2 servers only store 1 of 3 keys.  From what I understand, the buyer and seller have the other 2, and 2 keys are needed to get the coins.  So they will fail to take the coins.  After that, people with money to keep safe will realize the value of Bitcoin.
sr. member
Activity: 310
Merit: 250
I suspect the publicity bitcoin got when the first silk road was taken down might have helped create a bubble. Maybe the same thing will happen now a second silk road has been taken down.
sr. member
Activity: 728
Merit: 256
The events unfolding are very similar,

So will this silk road 2 fall take bitcoin to greater heights?

Something we have to wait and see


As per https://en.wikipedia.org/wiki/Silk_Road_(marketplace) SR 2.0 started on November 6, 2013. Exact 1 year and now it has been taken down while BTC is very low. Coincidence ?
legendary
Activity: 1330
Merit: 1000
Bitcoin
The events unfolding are very similar,

So will this silk road 2 fall take bitcoin to greater heights?

Something we have to wait and see


$500 by the end of the day.
hero member
Activity: 756
Merit: 502
The events unfolding are very similar,

So will this silk road 2 fall take bitcoin to greater heights?

Something we have to wait and see
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