How does the silk road work?
- Thread starter Finshaggy
- Start date
Finshaggy
Well-Known Member
If you don't want to download a new (TOR) browser, I found a solution: http://onion.to/ This is how to reach the deep internet from a surface browser like "Internet Explorer" (Kind of an ironic name for a web service that can't reach much of the known internet)
Finshaggy
Well-Known Member
If you would like to make an email account with encrypted anonymous privacy, here is TOR mail: http://jhiwjjlqpyawmpjx.onion/
Finshaggy
Well-Known Member
Yeah, I've been reading everything I can find on Google. No no order, I'm still as broke as ever... Maybe when Bitcoins get cheaper (if prices get cheaper with them)... And especially when they get more expensive again (because I will scoop some up while they are cheap and wait for deflation). But I don't even want anything illegal, so until the coins stabilize, I can ust use other methods to order.
The2TimEr
Well-Known Member
Most vendors will want paying only via the coins.
the price of all items on silk road are adjusted to suit the price of the coin, there will be next to no difference in the price you pay bud.
Only thing is if you're buying whilst they are this expensive you will wanna spend them straight away incase it rises after you've purchased. Coins were at 3.50 per coin at one point a while back, nowdays they are stupidly high, but like i say the price of the product on the road is lowered to suit. The forum on silk road is good for checking out any seller / product you want to know about
Finshaggy
Well-Known Member
Another awesome BitCoin trading site: https://btc-e.com/
srh88
Well-Known Member
dude this isnt even out of hate for you bro.. stop posting about the silk road!.. keep it underground man
Finshaggy
Well-Known Member
I know prices will inflate and deflate, I am just saying that I will only buy while coins are cheap if the coins inflate faster than prices. If the prices change with the coins steadily, then I will just get coins when they are cheap and spend them when they are expensive. It's like the real stock market. The coins are expensive right now, so the market will flood with people spending them and selling them since they are worth so much. Then, when people start holding on to them again because they are so cheap, prices will rise, so that people will stop hording them.
Finshaggy
Well-Known Member
The more people on it, the more anonymous it is, the more people order, the more anonymous each package is. So If anything YOU are the one hurting the road. If you read my quote from before, even the creator of the site enjoys it being talked about because it increases traffic.
Finshaggy
Well-Known Member
I'm saying the more drugs in the mail, the harder it is to find ONE specific package with drugs. The more people there are using the site, the safer everyone using it is.
Finshaggy
Well-Known Member
I'm reading on a BitCoin forum, and it seems that some people are worried about even going NEAR Bitcoins, because if their value drops to $0 USD, they wouldn't be able to use them for anything. And to that I say, BULLSHIT. $1 USD is equal to 0oz gold/silver, Bitcoins are worth Privacy and Availability. The USD does provide you with availability, but not privacy. So the Bitcoin already has more real world value than a dollar. Which is why 1 is = $5 USD at the CHEAPEST, and $30 USD at times like now.
Finshaggy
Well-Known Member
here is one hypothetical scenario:
1. Bitcoin price (for whatever reason) drops down to 0, that means there is absolutely no demand for Bitcoins, no one wants to pay even $0.00000001 for BTC 1.
2. The number of transactions on the network will reduce, eventually drop to 0
3. Few or no transactions will means there will be no blocks to mine
4. But also, the reward the miners receive for their work (BTC 25 currently) will be worth 0 and as there is no transactions and fees, the reward will be nullified
5. Many miners will stop their machines, only the ones that are mining for the sport of it and their electricity is free will keep mining empty blocks (is this possible?)
6. The difficulty will collapse dramatically, proportional to the hard-core miners hashing power left on the network
7. These few miners will earn(?) Bitcoins at a rate they never dreamed about, but of course these Bitcoins will be worth 0 at that moment
8. Everyone by default will become a hoarder.
9. All hoarders will wait for one of the two things to happen - someone suddenly decides he need Bitcoin and creates demand for Bitcoins or the end-goal of 21,000,000 million Bitcoins is reached and then the network suddenly stops to a halt, as there is no transactions, no fees, no reward, and no reason to waste electricity on.
10. Years later, someone invents a great application for the well forgotten Bitcoin, resurrects the projects, Bitcoin jumps to $zilion level, then everyone frantically starts searching through their grand parent's computers and USB drives for wallet.dat's with the hopes of becoming Bitcoin zilionaires, again...
1. Bitcoin price (for whatever reason) drops down to 0, that means there is absolutely no demand for Bitcoins, no one wants to pay even $0.00000001 for BTC 1.
2. The number of transactions on the network will reduce, eventually drop to 0
3. Few or no transactions will means there will be no blocks to mine
4. But also, the reward the miners receive for their work (BTC 25 currently) will be worth 0 and as there is no transactions and fees, the reward will be nullified
5. Many miners will stop their machines, only the ones that are mining for the sport of it and their electricity is free will keep mining empty blocks (is this possible?)
6. The difficulty will collapse dramatically, proportional to the hard-core miners hashing power left on the network
7. These few miners will earn(?) Bitcoins at a rate they never dreamed about, but of course these Bitcoins will be worth 0 at that moment
8. Everyone by default will become a hoarder.
9. All hoarders will wait for one of the two things to happen - someone suddenly decides he need Bitcoin and creates demand for Bitcoins or the end-goal of 21,000,000 million Bitcoins is reached and then the network suddenly stops to a halt, as there is no transactions, no fees, no reward, and no reason to waste electricity on.
10. Years later, someone invents a great application for the well forgotten Bitcoin, resurrects the projects, Bitcoin jumps to $zilion level, then everyone frantically starts searching through their grand parent's computers and USB drives for wallet.dat's with the hopes of becoming Bitcoin zilionaires, again...