Silk Road forums

Discussion => Security => Topic started by: snipeemfl0 on July 17, 2012, 01:43 am

Title: Bitcoin doing it again, going up in price
Post by: snipeemfl0 on July 17, 2012, 01:43 am
My views:

Good if you already have some bitcoins

Bad if you're kicking yourself (like me) for not saving it when it was at $4-5 a few months ago...


URGH!

/rant
Title: Re: Bitcoin doing it again, going up in price
Post by: TheAbsurd on July 17, 2012, 01:48 am
Does it actually matter? I heard vendors adjust their prices accordingly, or SR does it automatically. Someone correct me if I'm wrong. I remember when they were around $3.
Title: Re: Bitcoin doing it again, going up in price
Post by: ManaFromHeaven on July 17, 2012, 03:01 am
Does it actually matter? I heard vendors adjust their prices accordingly, or SR does it automatically. Someone correct me if I'm wrong. I remember when they were around $3.
Vendors can tie their prices to the USD or BTC.
Title: Re: Bitcoin doing it again, going up in price
Post by: Ahoyhoy on July 17, 2012, 01:12 pm
Does it actually matter? I heard vendors adjust their prices accordingly, or SR does it automatically. Someone correct me if I'm wrong. I remember when they were around $3.

Yeah, spot on +1. We can absorb an increase in BTC price as long as vendors respond accordingly and bring down their BTC prices. I know this doesn't make economic sense (since the price is rising due to demand and if there is high demand then vendors are able to charge more), but at the current rate, the BTC-using community will stall. If it goes any higher than £5 per BTC, I'm outta here.....
Title: Re: Bitcoin doing it again, going up in price
Post by: kryptoz on July 17, 2012, 05:20 pm
Quote
as long as vendors respond accordingly

Here lies the problem, not all vendors do this, and then the price for the same product goes up :\. Altho I can't believe how much it's shot up in the past 2 months, late may early june it was close to 5.50 per bitcoin, now its about $8 :S
Title: Re: Bitcoin doing it again, going up in price
Post by: mrrad on July 17, 2012, 05:35 pm
"If it goes any higher than £5 per BTC, I'm outta here....."  It's at £5.5 already mate  :o
Title: Re: Bitcoin doing it again, going up in price
Post by: jameslink2 on July 17, 2012, 10:02 pm
If it goes any higher than £5 per BTC, I'm outta here.....

Does it really matter if BTC is £5 per 1 BTC or £5 per .00000010 BTC?  It still buys you £5 worth of stuff provided the vendor has his rate locked to the USD, if he does not then don't buy from him.

Title: Re: Bitcoin doing it again, going up in price
Post by: Christy Nugs on July 18, 2012, 04:39 am
My prices and most other vendors have their bitcoin prices tied to the u.s. dollar.
that means when price of bitcoins goes up - my bitcoin price for product goes down.

We vendors take more of the risk here cause the price of bitcoins can go way down while our
money is tied up in escrow.

chill out u guys!!

:P ;
Christy
Title: Re: Bitcoin doing it again, going up in price
Post by: Eatshitanddie69 on July 18, 2012, 09:15 am
Then buy some!
Title: Re: Bitcoin doing it again, going up in price
Post by: Eatshitanddie69 on July 18, 2012, 09:16 am
ti's gonna drop off soon though!
Title: Re: Bitcoin doing it again, going up in price
Post by: Vladimir on July 18, 2012, 01:07 pm
no way it's gonna drop, the difficulty rises like shit.