• Silk Road - Your Local Drug Dealer Is Now a Computer
    1,278 replies, posted
[QUOTE=Hamm0;41376438][media]http://www.youtube.com/watch?v=Um63OQz3bjo[/media] [editline]9th July 2013[/editline] though its probably been posted in this thread before[/QUOTE] I know the basics, I've managed to start up my own (somewhat shitty) miner. But I have so many questions that aren't covered by the fact, and I was wondering if any user with a bit of experience could answer them fast.
[url]http://www.paypaltobitcoin.com/Bitcoin_and_Litecoin_Exchange/Bank_Transfer.html[/url] is this site safe? i want to do the cash service (where you mail them cash with your bitcoin address filled out on a form and then they take 15% supposedly) and transfer it to your wallet so what i'm basically asking is, does anyone know of any trusted services where it's possible to mail someone money or even more preferably, use paypal or something?
[QUOTE=soupman345-2;41376015]wash my bitcoins? tumbler? Bitcoin shit's always been really confusing to me.[/QUOTE] Basically bitcoins are relatively secret and safe, but it's still possible to track how they move across the net using transaction i.d's or something. Bitcoin tumblers "wash" your bitcoins so they can't be traced back to you, it's pretty neat. Imagine you and 99 other guys throw a $20 into a pile, then you all pick up a random bill. That bill can't be traced back to you cause the one you brought along is now most likely in the hands of someone else. You brought $20, and you left with $20 except now your new $20 has no ties to you.
[QUOTE=Dumbalias;41377511][url]http://www.paypaltobitcoin.com/Bitcoin_and_Litecoin_Exchange/Bank_Transfer.html[/url] is this site safe? i want to do the cash service (where you mail them cash with your bitcoin address filled out on a form and then they take 15% supposedly) and transfer it to your wallet so what i'm basically asking is, does anyone know of any trusted services where it's possible to mail someone money or even more preferably, use paypal or something?[/QUOTE] I wouldn't use that site, 15% is fucking rediculously high.
[QUOTE=NorthernFall;41376002]Damn, i'd say you can still use websites like Mt Gox and Bitinstant but you absolutely 100% need to wash your bitcoins with an online tumbler first. The authorities are getting very cosy to those guys.[/QUOTE] It's not an absolute 100% necessity. If you are only buying for relatively small amounts authorities won't give enough of a shit to trace your bitcoin transactions and try to connect it to minor illegal activity. And even then they can only see what wallet it has been transferred to, they don't know its used for drug purchases. Silkroad has a built-in tumbler system too so the payment from your SR wallet won't be traced to a vendor. If you want to be extra safe just set a new Silkroad wallet in settings and a make a new main wallet (if you use one that is) after each purchase. A tumbler is mostly required for moving large amounts of coins, especially if there is suspicion of you being a vendor (or worse, major tax evader!) [QUOTE=thecat100;41376290]So I recently started using Bitcoins. Mindtwistah, think you can add me on steam or some other program and help me out with the whole thing? Actually, anyone experienced with them. It would be appreciated.[/QUOTE] If you still need help go ahead and add me on steam, username should be +[SP]+ Mindtwistah. I'm always happy to help out :)
[QUOTE=Kimaru;41373136]Yes its safe. if anyone invades your mail without a warrant they cannot open it depends what country your in in the USA theres a privacy act.[/QUOTE]you're dumb if you think this stops anyone. warrants for packages are [i]hilariously[/i] easy to get, but no one wants to bother arresting joe blow for ordering an eighth of weed on the internet. too much paperwork, too much work. don't pretend that the usps "requiring" a warrant is what's saving you
they still snoop around anyways but they cant use it against you,its just a personal thing they do so they arent wasting time
are bitcoin prices going up again theyre at 86 they used to be at 70-80. will they go down again this month or shud I buy now quickly before they rise.
Does bitinstant still work for you guys?
[QUOTE=Stephen427sf;41411795]are bitcoin prices going up again theyre at 86 they used to be at 70-80. will they go down again this month or shud I buy now quickly before they rise.[/QUOTE] Unless time-machines have been invented no one will be able to give you a clear answer on that. Myself I really doubt this is a trend reversal, the bubble is imo still deflating and this is nothing more than a bounce with a correction coming pretty soon, or simply correction from a faster-than-healthy price drop caused by all that whale dumping. I bought with 50% of exchange fiat over a day ago, put in ask orders at 90 but just took out profit at 87 anyway because I have a bad feeling about the current price and I'm going to bed soon, don't want to wake up to bad news tomorrow lol Even if it doesn't drop now the rally will probably not hold over the weekend due to lower volume and we might just see another whale dump. And there's the pattern of weekend dips. But that is just short term speculation. Longer term (month timeframe as you provided) I honestly have no idea where it will go, we might be well into a stable uptrend by then with triple digits, but I think it will take a bit longer than that for the bubble to deflate completely. My floor guesstimate is $30-50. Time? Fuck knows, but these things tend to take a while. There are graphs detailing market cycles and the respective emotional sentiment among the majority of users. While it may not be applicable to Bitcoin to 100% and should mainly be used as an indicator, it does generally hold true to market cycles and did so with the 2011 bubble as well. [IMG]http://www.bethetop5percent.com/wp-content/uploads/2011/10/cycle-of-market-emotions.jpg[/IMG] I think we are still somewhere around the Denial-Desperation stage and have more to go until the real bull market is on. But don't take my word for it! Bitcoin is unpredictable and anything could happen just overnight. If this [B]is [/B]a trend reversal I guess I'll be kind of sad (while of course happy at the same time). I was just starting to get used to trading in a bear market!
[QUOTE=brianosaur;41412247]Does bitinstant still work for you guys?[/QUOTE] Nope, i've been having a lot of trouble with it. I'm still looking for a good site to use to buy btc via cash deposit.
Yeah they just suspended their services for the time being. I think my best bet is localbitcoins or bitcoin-otc
what caused btc to explode to like $250 in the first place? i remember less than a year ago it was like $15/btc. i haven't really kept up on the btc shit, i only remember hearing about how it exploded, a bunch of people got rich(or at least got a big return), and how i wished i had held onto some while i had the chance. was there an explosion of new people participating to create a huge demand? or did some btc exchanges get shut down or what?
Fuck I bought a Mastercard Vanilla debit card and no where accepts them. Anyone want to buy a $100 card for like $90 worth of bitcoins?
[QUOTE=facepuke;41472117]Fuck I bought a Mastercard Vanilla debit card and no where accepts them. Anyone want to buy a $100 card for like $90 worth of bitcoins?[/QUOTE] DUDE made that exact same mistake my first time trying to buy btc hahaha. You can sell em online for a bit less than what there worth if you just want your money back. Or do what I did and find someone willing to give you 90 bucks for 100 dollar card and just take the loss Like 13 bucks or watever because of the stupid activation fee when you buy the damn things lol I was so pissed.
[QUOTE=xSikarius;41472354]DUDE made that exact same mistake my first time trying to buy btc hahaha. You can sell em online for a bit less than what there worth if you just want your money back. Or do what I did and find someone willing to give you 90 bucks for 100 dollar card.[/QUOTE] Yea, That's what I'm going to try to do. I don't know where to advertise it though.
[QUOTE=facepuke;41472376]Yea, That's what I'm going to try to do. I don't know where to advertise it though.[/QUOTE] Well you could try something like this [url]https://www.plasticjungle.com/[/url] no idea about the percentage they take or anything though. But you don't know anyone personally like a friend or family member that would be willing to buy it off you? I sold mine to a buddy he needed groceries I needed durgs and he got a 10 dollar deal lol.
Nobody I know personally has bitcoins either haha, That website isn't buying and selling anymore either.
[QUOTE=facepuke;41472452]Nobody I know personally has bitcoins either haha, That website isn't buying and selling anymore either.[/QUOTE] Well it is literally almost impossible to get bitcoins with a debit card or any plastic of any sort with out going through shady outlets and or a lot of hassle and fees in my experience. What I was saying was cut your loses get your cash back and find some other means of acquiring bitcoins. If your in the us you could wait for bitinstant to be back up and thats what I allways use. Fairly simple aswell. In other news btc almost back up to those trips digits. Pretty interesting.
#bitcoin-otc on freenode network is where you need to go to sell that. I know a couple people accepting those. Look in the order book: [url]http://bitcoin-otc.com/vieworderbook.php[/url] Glooboy is buying those at 6.5% - 11.5%.
[QUOTE=brianosaur;41474309]#bitcoin-otc on freenode network is where you need to go to sell that. I know a couple people accepting those. Look in the order book: [url]http://bitcoin-otc.com/vieworderbook.php[/url] Glooboy is buying those at 6.5% - 11.5%.[/QUOTE] Thanks man I really appreciate it! (Just have to figure out how to use it)
[QUOTE=facepuke;41474362]Thanks man I really appreciate it! (Just have to figure out how to use it)[/QUOTE] First you have to register with the web of trust using PGP or with your bitcoin address. There are a lot of scammers, but if you use the ;;ident commands and the ;;getrating commands you can see if one is legit. Scammers like to copy other peoples names and they are NOT IDENTIFIED and not AUTHENTICATED. If somebody is not auth'd or identified do not talk business with them. Typically scammers will give you a link to their Web of Trust ratings, but make sure you do the ;;getrating commands manually on their name they are talking to you with including any special characters, which is how they trick you into thinking they are trusted. Glooboy is legit though, he's the one who helped me out in the beginning. Again, just make sure they are authenticated and identified with the server bot. message me if you have any questions my name on irc is nystorm
[QUOTE=brianosaur;41474781]First you have to register with the web of trust using PGP or with your bitcoin address. There are a lot of scammers, but if you use the ;;ident commands and the ;;getrating commands you can see if one is legit. Scammers like to copy other peoples names and they are NOT IDENTIFIED and not AUTHENTICATED. If somebody is not auth'd or identified do not talk business with them. Typically scammers will give you a link to their Web of Trust ratings, but make sure you do the ;;getrating commands manually on their name they are talking to you with including any special characters, which is how they trick you into thinking they are trusted. Glooboy is legit though, he's the one who helped me out in the beginning. Again, just make sure they are authenticated and identified with the server bot. message me if you have any questions my name on irc is nystorm[/QUOTE] Thanks for helping me out so much! I'm just waiting on his reply now.
[QUOTE=yawmwen;41452276]what caused btc to explode to like $250 in the first place? i remember less than a year ago it was like $15/btc. i haven't really kept up on the btc shit, i only remember hearing about how it exploded, a bunch of people got rich(or at least got a big return), and how i wished i had held onto some while i had the chance. was there an explosion of new people participating to create a huge demand? or did some btc exchanges get shut down or what?[/QUOTE] AFAIK there were many factors causing the initial price increase including block reward halving, Cyprus banking crisis etc, all of this during the start of a bull market when the previous bubble have had plenty of time to deflate with major user capitulation and despondency. This soon led to media exposure on the increasing price, which attracted a wave of btc adopters, which in turn increased the price further, thus increasing media exposure and increasing adopters in a feedback loop of sorts, and this led to the speculative boom. It was far too fast and too unsustainable and so it didn't take long for it to pop, but overall I think these bubbles are healthy for the early bitcoin economy as it attracts more users and spreads awareness, giving the coin a larger economic base support and more stability at the end of the day. [U][B]In other news[/B][/U] price is dropping again. The (imo) suspected bull trap has been closed, largely due to Satoshi Dice having been bought for 126,315 BTC and a total of 155,394 BTC has been released to previous shareholders ([url]https://bitcointalk.org/index.php?topic=101902.msg2751536#msg2751536[/url]) There is speculation that the recent price spike might have been due to accumulation of this amount by the buyer(s), possibly someone from the Casino business looking to expand into the bitcoin market, causing unnatural buying pressure and thus an artificial price increase on the market. In any case this news has caused a panic-induced fall already and we will probably see a lot of those shares being sold in the coming days or weeks taking us down further, not to mention Erik Voorhees (previous SDice owner) might be taking part or full profit too. So the bear market is still on and gasoline has been poured into the fire. Very interesting to see how this plays out.
Yeah, I'm keeping fiat for now to see how it plays out.
I really appreciate your posts, Mindtwistah. They save me from slogging through pages upon pages of otherwise useless btc discussion on other btc forums. I just hope you remain consistently reliable! Do you reckon they'll drop below $80USD within a fortnight? I need to fuel my emergent speed addiction and these btc prices are almost making me reconsider my direction in life. ;_;
[QUOTE=Loch;41527581]I really appreciate your posts, Mindtwistah. They save me from slogging through pages upon pages of otherwise useless btc discussion on other btc forums. I just hope you remain consistently reliable! Do you reckon they'll drop below $80USD within a fortnight? I need to fuel my emergent speed addiction and these btc prices are almost making me reconsider my direction in life. ;_;[/QUOTE] Gratitude, your kind words are much appreciated <3 And yes, I reckon we will be below $80 soon. When I can't tell you. In fact I can't even give you any guarantees on the <$80 claim. Fully possible that we'll be up to triple digits in a couple of weeks too, it's all just speculation on my part, but I haven't seen any clear signs of trend reversal. All I have seen is bull traps, corrections and bounces with a strong underlying bearish trend and so I believe it is much more likely that price will either be relatively stable or drop in this timeframe than going up. But BTC is very affected by news and big events too; if we have bullish news price will shoot up, bearish news and it will drop, so unless you have insider information or are a whale with big enough amount of coins to manipulate the market there is no way you can know for certain where we are going. However if you're just buying drugs and not planning on trade/holding there isn't much reason to be concerned. Keep money in fiat at the exchange and it will remain stable, whenever you decide to grab some speed off the Silkroad just purchase the amount of coins required, send it there and buy. This process usually only takes a handful of hours and price is not very likely to move much in that amount of time. Just in case it does move I'd recommend buying 5-10% more coins than you need so you won't find yourself lacking 0.03 btc or something when making the purchase.
Whatever you do, don't buy from Mt. Gox! They are so overpriced! If you buy from bitstamp, you can buy coins right now for around $86. SR price of a bitcoin is $92. Do the math.
Yeah there's usually been a price gap between Mt.Gox and other exchanges but this one is pretty damn big and has lasted for quite some time, though it seems it's somewhat closing now (just a few days ago difference was a stable $10!) Other reasons not to buy at Gox is that they're incompetent with constant fuckups, engine lag, withdrawal hiatus e.t.c., not to mention that by using Mt.Gox you are supporting centralization of exchange in a supposedly decentralized economy which is really harmful to bitcoin. I recommend Bitstamp. Beststamp.
[QUOTE=Mindtwistah;41535865]Yeah there's usually been a price gap between Mt.Gox and other exchanges but this one is pretty damn big and has lasted for quite some time, though it seems it's somewhat closing now (just a few days ago difference was a stable $10!) Other reasons not to buy at Gox is that they're incompetent with constant fuckups, engine lag, withdrawal hiatus e.t.c., not to mention that by using Mt.Gox you are supporting centralization of exchange in a supposedly decentralized economy which is really harmful to bitcoin. I recommend Bitstamp. Beststamp.[/QUOTE] Why are you so smart?
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