How does the silk road work?

aquastoner said:
I don't know i have been buying, selling, and using bitcoins for a year.Tthey seem volatile but i cant see anything but $$$ lol
i buy low sell high (hehe)and use them to get my M.O.MJ but as investments you'd have to be brave as hell to just let your money ride in that.Hell i have about $1000 in coins now in my wallet so im taking the same risk just cash out daily you should be ok
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Yes, but you are an "arbitrageur", and that's fine. You are not going into this with any delusions of it becoming "the new currency standard". To which, the volatility is EXCELLENT for capturing quick gains, so long as you are staying liquid (i.e. CASH OUT at the end of the day, etc). But my concern is with the "suckers". They are setting themselves up for robbery...
 
heckler73 said:
Yes, but you are an "arbitrageur", and that's fine. You are not going into this with any delusions of it becoming "the new currency standard". To which, the volatility is EXCELLENT for capturing quick gains, so long as you are staying liquid (i.e. CASH OUT at the end of the day, etc). But my concern is with the "suckers". They are setting themselves up for robbery...
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Now that we have Crypto currencies there will always be new ones. Digital exchange will never lose popularity. Even if Ebay and Amazon fall, people will still be trading. And why not trade an anonymous stock.
 
Finshaggy said:
You didn't even reply to anything that was said, this is trolling at its WORST. You just took a bunch o meth or just amphetamine, came on here, read what I had to say, didn't like it, but instead o arguing it, you came on here and just spouted your own ideas and in no way explained in what way I was wrong. I've said that the market would inflate and deflate this whole time, you don't have to pretend you are somehow "beating me" by pointing it out :lol:
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Uh Fin... buddy... I'm trying to set up a platform for debate (while sneaking in some Macro-economic elucidation)
You are proselytizing the wonders of bitcoin, and I am trying to take the opposite side.
I have presented opening points of contention for why I see Bitcoins as ill-founded and potentially dangerous to one's personal finances. And I haven't even discussed the issue of "anonymity" (although, Don Harrold did in his video). Feel free to rebut at your convenience...

As for the "trolling" comment; no, I take economics pretty seriously. When I see people discussing such topics, and presenting opinions based on fallacy (i.e. you) or fear-mongering (not you), I feel it necessary to step in and make sure that a wider analysis is performed.

I am in no way claiming to have perfect knowledge, but if you refrain from offering a logical counter-point, then how closed are your eyes? You are possibly one of the last people that SHOULD be mucking around with gambling in securities or ForEx markets.
Never mind encouraging others to do so !
 
heckler73 said:
uh fin... Buddy... I'm trying to set up a platform for debate (while sneaking in some macro-economic elucidation)
you are proselytizing the wonders of bitcoin, and i am trying to take the opposite side.
I have presented opening points of contention for why i see bitcoins as ill-founded and potentially dangerous to one's personal finances. And i haven't even discussed the issue of "anonymity" (although, don harrold did in his video). Feel free to rebut at your convenience...

As for the "trolling" comment; no, i take economics pretty seriously. When i see people discussing such topics, and presenting opinions based on fallacy (i.e. You) or fear-mongering (not you), i feel it necessary to step in and make sure that a wider analysis is performed.

I am in no way claiming to have perfect knowledge, but if you refrain from offering a logical counter-point, then how closed are your eyes? You are possibly one of the last people that should be mucking around with gambling in securities or forex markets.
Never mind encouraging others to do so !
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shiva!!!!!
 
Finshaggy said:
Now that we have Crypto currencies there will always be new ones. Digital exchange will never lose popularity. Even if Ebay and Amazon fall, people will still be trading. And why not trade an anonymous stock.
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Interesting assumptions: "new ones", "popularity", "anonymous"

If bitcoin falls apart in a shambles, do you think the idea will become "more popular"? That somewhat dismisses the idea of "new ones".
As for the anonymity, go back and read the contract that Mt.Gox uses. Nothing in there is anonymous. And if the Swiss banks can be forced to give-up once "secret" account information, do you think any attempt at a legitimate business surrounding crypto-currency would be any more powerful?
There may be barriers to entry for getting personal information, but it would be a paradox for information to be truly invisible.
 
heckler73 said:
If bitcoin falls apart in a shambles, do you think the idea will become "more popular"? That somewhat dismisses the idea of "new ones".
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You're being a troll. There are already "new ones" that may become "more popular" as an "anonymous" cryptocurrency. Look up "litecoins", or go try reading a little. Because there are TONS of these currencies becoming "more popular" everyday. "anonymous" "new ones"
 
heckler73 said:
Interesting assumptions: "new ones", "popularity", "anonymous"

If bitcoin falls apart in a shambles, do you think the idea will become "more popular"? That somewhat dismisses the idea of "new ones".
As for the anonymity, go back and read the contract that Mtgox uses. Nothing in there is anonymous. And if the Swiss banks can be forced to give-up once "secret" account information, do you think any attempt at a legitimate business surrounding crypto-currency would be any more powerful?
There may be barriers to entry for getting personal information, but it would be a paradox for information to be truly invisible.
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You my friend are wasting your time. Fin has opened his mouth and kicked his brain out of gear. You are fighting a lost cause.
 
Finshaggy said:
You're being a troll. There are already "new ones" that may become "more popular" as an "anonymous" cryptocurrency. Look up "litecoins", or go try reading a little. Because there are TONS of these currencies becoming "more popular" everyday. "anonymous" "new ones"
Click to expand...

Your argument: Bitcoins Good
My counter-argument: Bitcoins Bad
Your rebuttal: "You iz Troll"
My response: ...

[video=youtube;exdK7Lirngg]http://www.youtube.com/watch?v=exdK7Lirngg[/video]
 
heckler73 said:
Your argument: Bitcoins Good
My counter-argument: Bitcoins Bad
Your rebuttal: "You iz Troll"
My response: ...

[video=youtube;exdK7Lirngg]http://www.youtube.com/watch?v=exdK7Lirngg[/video]
Click to expand...
I didn't say "You iz troll" in my last post, I actually replied to you, like you should try doing sometime :dunce:
 
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