Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32227.

Argwai96

legendary

Activity: 1036

Merit: 1000

Thug for life!

Quote from: Argwai96 on October 02, 2013, 05:41:31 PM

Quote from: derpinheimer on October 02, 2013, 05:37:16 PM

Quote from: Tzupy on October 02, 2013, 05:33:39 PM

If we hit 110$ once, we can hit that low again. I hope Gox won't lag anymore, so I can trade without worrying about my order being 5 min late.

Its 20kBTC away from $110 after touching it twice hours ago. Seems unlikely.

meh, that logic only works if gox leads. if bitstamp leads, with its depth.....

stamp dropping fast from 110, now 102........ it will lead the next drop;......

edit: btc-e at 98 and the fun begins!!!! Grin

btcontilt

newbie

Activity: 53

Merit: 0

fasten your seatbelts!

Tzupy

legendary

Activity: 2156

Merit: 1094

I don't mean immediately. But there's the potential to drop again tomorrow.
Right now the price has peaked and I'm curious to see how low will the limited drop be.
Should give me a hint about the final bottom.

Pompobit

hero member

Activity: 736

Merit: 508

Quote from: notme on October 02, 2013, 04:48:40 PM

Quote from: btcontilt on October 02, 2013, 04:34:52 PM

imo I would still be cautious. SR accounted for ~300-400 million in revenue a year for bitcoins. Much of which was from fresh money being brought in by customers. I don't know of anything else in the same stratosphere in terms of bringing in money into the network. SR was/is a big deal. Will there be other sites to take its place? Sure.. but to what extent they will fill that void remains to be seen. Also will customers/vendors of these sites be weary about jumping back into this market?

Bitcoin doesn't earn revenue, and SR was mostly neutral for supply and demand.

Buyers bought btc, sellers sold btc to buy product.

*
this

Argwai96

legendary

Activity: 1036

Merit: 1000

Thug for life!

Quote from: derpinheimer on October 02, 2013, 05:37:16 PM

Quote from: Tzupy on October 02, 2013, 05:33:39 PM

If we hit 110$ once, we can hit that low again. I hope Gox won't lag anymore, so I can trade without worrying about my order being 5 min late.

Its 20kBTC away from $110 after touching it twice hours ago. Seems unlikely.

meh, that logic only works if gox leads. if bitstamp leads, with its depth.....

derpinheimer

legendary

Activity: 896

Merit: 1000

Quote from: Tzupy on October 02, 2013, 05:33:39 PM

If we hit 110$ once, we can hit that low again. I hope Gox won't lag anymore, so I can trade without worrying about my order being 5 min late.

Its 20kBTC away from $110 after touching it twice hours ago. Seems unlikely.

Tzupy

legendary

Activity: 2156

Merit: 1094

If we hit 110$ once, we can hit that low again. I hope Gox won't lag anymore, so I can trade without worrying about my order being 5 min late.

hlynur

hero member

Activity: 770

Merit: 501

Quote from: prophetx on October 02, 2013, 05:09:33 PM

so looks like the show is over ... what now?

kudos to that bilateral humour Grin

,
last episode is sitting on my disk ready to watch, perfect for closure of an exciting evening. Cheesy

notme

legendary

Activity: 1904

Merit: 1002

Quote from: thezerg on October 02, 2013, 05:22:02 PM

Quote from: notme on October 02, 2013, 04:48:40 PM

Quote from: btcontilt on October 02, 2013, 04:34:52 PM

imo I would still be cautious. SR accounted for ~300-400 million in revenue a year for bitcoins. Much of which was from fresh money being brought in by customers. I don't know of anything else in the same stratosphere in terms of bringing in money into the network. SR was/is a big deal. Will there be other sites to take its place? Sure.. but to what extent they will fill that void remains to be seen. Also will customers/vendors of these sites be weary about jumping back into this market?

Bitcoin doesn't earn revenue, and SR was mostly neutral for supply and demand.

Buyers bought btc, sellers sold btc to buy product.

Its just one data point but the amount of BTC seized (26,000 by one media outlet) tells us how much SR was affecting the supply of coin. In other words, not much. And this coin may be tied up as evidence for quite some time so its confiscation is not about to affect supply.

However, I would imagine that the SR economy formed a group of people willing to buy and sell at the current price whatever that might be (I'm assuming the drug price is in USD and constantly repriced in BTC, and of course that addicts need for a fix is fairly price insensitive -- but I don't actually know having never been to SR). So some liquidity may leave the system.

Maybe a small amount... but certainly not $300-400 million worth.

MikeH

sr. member

Activity: 406

Merit: 250

Quote from: rampantparanoia on October 02, 2013, 05:14:05 PM

Ot: Australia & China are just waking up, & will be greeted with this news. I expect another $20 drop.

I'm in Australia and I'm just going to bed :] 5:20 am

thezerg

legendary

Activity: 1246

Merit: 1010

Quote from: notme on October 02, 2013, 04:48:40 PM

Quote from: btcontilt on October 02, 2013, 04:34:52 PM

imo I would still be cautious. SR accounted for ~300-400 million in revenue a year for bitcoins. Much of which was from fresh money being brought in by customers. I don't know of anything else in the same stratosphere in terms of bringing in money into the network. SR was/is a big deal. Will there be other sites to take its place? Sure.. but to what extent they will fill that void remains to be seen. Also will customers/vendors of these sites be weary about jumping back into this market?

Bitcoin doesn't earn revenue, and SR was mostly neutral for supply and demand.

Buyers bought btc, sellers sold btc to buy product.

Its just one data point but the amount of BTC seized (26,000 by one media outlet) tells us how much SR was affecting the supply of coin. In other words, not much. And this coin may be tied up as evidence for quite some time so its confiscation is not about to affect supply.

However, I would imagine that the SR economy formed a group of people willing to buy and sell at the current price whatever that might be (I'm assuming the drug price is in USD and constantly repriced in BTC, and of course that addicts need for a fix is fairly price insensitive -- but I don't actually know having never been to SR). So some liquidity may leave the system.

rampantparanoia

sr. member

Activity: 516

Merit: 283

Quote from: QuestionAuthority on October 02, 2013, 05:12:28 PM

Quote from: prophetx on October 02, 2013, 05:09:33 PM

so looks like the show is over ... what now?

It ain't over till the fat lady sells her Bitcoins.

Or eats them. Cause that's what fatties do!

Ot: Australia & China are just waking up, & will be greeted with this news. I expect another $20 drop.

QuestionAuthority

legendary

Activity: 2156

Merit: 1393

You lead and I'll watch you walk away.

Quote from: prophetx on October 02, 2013, 05:09:33 PM

so looks like the show is over ... what now?

It ain't over till the fat lady sells her Bitcoins.

MikeH

sr. member

Activity: 406

Merit: 250

I don't believe they seized his bitcoins - unless they key logged or tortured him, more likely they're just making a statement that bitcoin isn't a safe haven.

prophetx

legendary

Activity: 1666

Merit: 1010

he who has the gold makes the rules

so looks like the show is over ... what now?

ChartBuddy

legendary

Activity: 2324

Merit: 1801

1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

jeezy

legendary

Activity: 1237

Merit: 1010

Up, up, up! Obviously... Wink

Quote from: DougTanner on October 02, 2013, 04:46:07 PM

Triangle is closing. Where to from here?

theonewhowaskazu

sr. member

Activity: 448

Merit: 250

Quote from: DougTanner on October 02, 2013, 04:46:07 PM

Triangle is closing. Where to from here?

First legit wedge I've seen on here for a while. Most people just draw triangles to troll. Good job finding a real one.

notme

legendary

Activity: 1904

Merit: 1002

Quote from: btcontilt on October 02, 2013, 04:34:52 PM

imo I would still be cautious. SR accounted for ~300-400 million in revenue a year for bitcoins. Much of which was from fresh money being brought in by customers. I don't know of anything else in the same stratosphere in terms of bringing in money into the network. SR was/is a big deal. Will there be other sites to take its place? Sure.. but to what extent they will fill that void remains to be seen. Also will customers/vendors of these sites be weary about jumping back into this market?

Bitcoin doesn't earn revenue, and SR was mostly neutral for supply and demand.

Buyers bought btc, sellers sold btc to buy product.

Manna

full member

Activity: 159

Merit: 100

Quote from: ?? on ??

Quote from: btcontilt on October 02, 2013, 04:34:52 PM

imo I would still be cautious. SR accounted for ~300-400 million in revenue a year for bitcoins. Much of which was from fresh money being brought in by customers. I don't know of anything else in the same stratosphere in terms of bringing in money into the network. SR was/is a big deal. Will there be other sites to take its place? Sure.. but to what extent they will fill that void remains to be seen. Also will customers/vendors of these sites be weary about jumping back into this market?

The same as when they close a file sharing site. They really like mopping the floor with the water running and then wonder why they're never finished.

There will be new sites like SR, but never as popular as SR for the next time. And also the risk now is even higher to start a portal like Silkroad, after Gov closed SR.
Filesharing is different, because it depends on laws of a country.So when the server is in Africa, Gov of the U.S can do nothing against it, as long as they don´t have american friendly providers there. That is the difference.

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