Silk Road forums

Discussion => Security => Topic started by: chronicpain on July 04, 2011, 02:57 pm

Title: Bitcoin going down...
Post by: chronicpain on July 04, 2011, 02:57 pm
I had a feeling when I noticed the BTC has been steadily dropping from 17 since Friday that it could take a deep slide.. Its so frustrating when I can see myself losing money and not a damn thing I can do about it....Now its under 15. I just want it to stabilize, I wouldn't care if it was 50 bucks a btc as long as it didn't move within a dollar or so.
Title: Re: Bitcoin going down...
Post by: Dread on July 04, 2011, 03:46 pm
This really rustles my jimmies. :(
Title: Re: Bitcoin going down...
Post by: Alternity on July 04, 2011, 03:52 pm
Yeah, alot of outside factors have a much greater influence on a currency of such low volume. A big part of the reason it ever spiked to 30+ was the massive hype generated by the rollout and growth of SR. Then that article totally blew up the SR spot causing people to panic (especially with the downtimes) and cashout resulting in a *correction* to say the least. Now I really don't know if there'll be a stop to the decline. The Mt.Gox 'theft/hack' had a big effect in undermining confidence in the currency. I think it's gonna level out soon, but I'd bet against a rebound of any significance. I cashed out once at 26 (on the rise) and recently at 17.5 both times turning a profit of some sort.

I'd cashout as opposed to putting any coins in storage right now. It isn't doing a DIVE, but it is a steady decline. Right now, all my BTC income goes almost immediately to my exchanger. But I'm cautious, rolling the dice and holding on may prove the smart thing to do. Or just put the BTC back into the fold by using them to make purchases, that way you get a tangible 'return' as it were. A LOT of places take BTC right now...

The realtime BTC apps for Android keep me glancing at my phone every 5-10min, lol. =P

Bitcoin, THE "Roller-coaster currency"!
Title: Re: Bitcoin going down...
Post by: BillHampton on July 04, 2011, 09:14 pm
You think that's bad? 

Try having about $500 worth of bitcoin on a hard drive that completely fails.  The good news is it CAN be repaired but I need some specialty tools all the way from China.  I was about to purchase 3 or 4 big things, but the bitcoin is declining while I wait for the parts, they *STILL* probably won't get here for another couple weeks.  At this rate, I'll only be able to purchase about 2/3 what I could have before the crash...   and that's only *IF* the hard drive can be repaired.  If not, I'm out 500 bucks.

If you wanna get the most out of your coins, buy products now as your purchasing power is decreasing every day.

Immediately following a SR crash for a couple of days, I panicked and removed my funds from the SR site (had em all in my SR account), believing it not a safe place to keep your bitcoins......  then the hard drive I transferred them to fails in less than 48 hrs..... lame.



IF anyone knows some way of recovering a bitcoin account from an inaccesible hard drive I could use some pointers.... 
Title: Re: Bitcoin going down...
Post by: j789745 on July 04, 2011, 11:55 pm
I'd like to see a stable price too!  the BTC price is upsetting, but its dipped before and recovered. though it never seems to recover fully... still, I think we're probably going to see 15 end up being the standard. just a guess, who knows...
Title: Re: Bitcoin going down...
Post by: phubaiblues on July 06, 2011, 05:50 am
You think that's bad? 

Try having about $500 worth of bitcoin on a hard drive that completely fails.  The good news is it CAN be repaired but I need some specialty tools all the way from China.  I was about to purchase 3 or 4 big things, but the bitcoin is declining while I wait for the parts, they *STILL* probably won't get here for another couple weeks.  At this rate, I'll only be able to purchase about 2/3 what I could have before the crash...   and that's only *IF* the hard drive can be repaired.  If not, I'm out 500 bucks.

If you wanna get the most out of your coins, buy products now as your purchasing power is decreasing every day.

Immediately following a SR crash for a couple of days, I panicked and removed my funds from the SR site (had em all in my SR account), believing it not a safe place to keep your bitcoins......  then the hard drive I transferred them to fails in less than 48 hrs..... lame.



IF anyone knows some way of recovering a bitcoin account from an inaccesible hard drive I could use some pointers....

Hey: at least I've got some company: day before yesterday I reformatted and installed debian on top of Windows 7, 64bit...I was sick of windows, plus, u know, the security aspect, etc...and it was late, and I was in a foul mood--none of my drugs showed--and I forgot I had around 47 btc on *my* hard drive, and tho I'd been *thinking* all week about backing up my wallet.dat...I never did...so I woke up yesterday when I remembered...way I figure, it's around 750 dollars, right?  Fuck me.

I posted on here about it, and some guy said maybe I could access the hd and get that file back: here's my guess.  I'm going to install linux xpud on a flash drive and see if I can find anything...I've already scoured everything from debian itself, but it's not showing...every other time I did this, it ended up a dual boot set up, with windows in the dev3, best I can remember...but not this time...I'm *so* pissed...someone also recommeded some free open source stuff: today I was just too bummed to do anything about it, but I just wanted u to know u weren't the only one...I hope some serious geeks take interest and give me some pointers...and best wishes to you recovering yours...