[quote name=“Kevlar” post=“30244” timestamp=“1380817891”]

Silk Road legitimized Bitcoin as a currency and provided the largest marketplace that Bitcoin has had to date, cementing it’s value against real world items, stabilizing and increasing the price in a sustainable fashion.

Drugs were not the only thing sold there, and drugs are just as legitimate an item to use to peg a currency to a value as any other commodity.

Sites like Silk Road should have our support because they pave the way to mass adoption and legitimacy of the currency, provide liquidity, establish and entrench the value of the currency, and enable buyers of goods to reach sellers directly. The democratized model is the way of the future. It did for Bitcoin commerce what EBay did for Internet commerce.

Weather you like it or not, we are part of a revolution which bucks government controls and blatantly undermining them is exactly how progress is made. Just look at Egypt or Iran for examples of this, or the slipping grasp of Wall Street on our currency. It’s a downhill battle because as more and more people become entrenched in this market the inertia grows, and it’s rapidly reaching a tipping point where it’s moving under it’s own power inexorably.

Selling drugs is NEVER a cop-out. They are a legitimate commodity, and once that millions of people rely on for their health and well being. A world without drugs is one where millions of people suffer needlessly and die from afflictions which, due to modern technology, are avoidable, treatable, and curable.

The next generation of sites like Silk Road will further erode Government’s stranglehold on our freedom, because they (hopefully) won’t make the same mistakes as the prior generation.
[/quote]

C’mon… you cant be serious?

Your using Egypt and Iran as a model for progress? Your not trolling me are you ;)?

Silk Road was essential in establishing the foundation Bitcoin was built on. I’ll give you that. But Silk Road no longer has the impact on the Bitcoin ecosystem like it once had. This is outlined in the hard data in the charts. This article does a great job in explaining that.

[url=http://thegenesisblock.com/analysis-silk-roads-historical-impact-bitcoin/the]http://thegenesisblock.com/analysis-silk-roads-historical-impact-bitcoin/the[/url]

Drugs may be a commodity but they are certainly not “legitimate”. You can’t honestly say that the “goods” sold on Silk Road were essential to the health and survival of its users… You can try to overthrow the government and keep putting up illegal drug marketplaces like Silk Road all you want. But they are just going to be shutdown one after another and shed more and more negative light on Bitcoin. Mass adoption is what Bitcoin needs and the World does not need another outlet for illegal drug trade. If you need your drugs for a legitimate health concern great, go to the doctor and get a prescription. Silk Road users were not living in third world countries.

SR was a great experiment in proving the transactional value of Bitcoin. I would love it if more sites popped up like Silk Road but I think it would be far more beneficial if they sold “legitimate” goods rather than illegal drugs. There are other ways to “buck” the government…

Your arguing that Silk Road provided a “safe” outlet to sell drugs? C’mon man… DPR was hiring hits on his users. How long do you think this “safe” drug trade is going to last? The people using Silk Road were the same “thugs” and “criminals” that were buying drugs in the first place. You think they were just buying drugs for their own personal use? No, they were going right back to the streets and selling their discount, “high quality” drugs for a premium. If anything, SR was an accelerant to violent behavior.

It sounds like we have completely different ideologies. Whatever I say is never going to change your hardcoded beliefs.

So lets just agree to disagree eh?

[quote name=“chrisj” post=“30231” timestamp=“1380811120”]
Ok running the competition now. I ended up halving the amount to 25 RTs and giving away 20FTC to make it more meaningful to those who do win.

So check it out.
[/quote]

Excellent! Bring on the retweets!

[quote name=“cassieheart” post=“30187” timestamp=“1380781214”]
Your joking rite? SR was a dark cloud? Silk Road did 1.5 BILLION in sales. 1.5 BILLION USD!!! All with Bitcoin. So lets have a seat and think about this a moment shall we? 51% of all bitcoin transactions are done in online gambing at SatashiDice and i think its fair to say 30% or more is done mostly in illicit drug trade on the Silkroad. Like it or not Bitcoin is backed by drug dealers, users and people who like to gamble. Now those people who bought and sold on the silk road wont be buying or selling with bitcoin now.
What do you think is going to happen to the price of bitcoin if no one steps in to pick up the slack that the SR left? BitCoin is going to tank. The future looks pretty shitty rite now. Next the Feds will be targeting the Online gambling sites… Then we will be back to square one. The community needs to pool together to find ways to keep our businesses secure from government and its whores.
We also need to be supportive of places like the SR and SatoshiDice as they keep the bitcoin wheels turning. Without them at this point in the game BitCoin is nothing… Just my 2 cents ;)
[/quote]

Nope. Not joking at all… Silk Road was a [b]DARK CLOUD[/b]

Personally, I have been waiting with great anticipation for Silk Road to go down as it was inevitable and a disgrace to Bitcoin. Bitcoin is much stronger than the kids sitting in their basements ordering pot online or aimlessly clicking buttons trying to win a game of dice.

The drop you saw was just another speculation. Investors wanted to be the first to drop their coins at the word of “negative” news only to buy them right back up from the ones that sold after them.

Sites like Silk Road should [b]not[/b] have our support and anyone that was messing around with that drug pedaling site should have known they were playing with fire.

Whether you like it or not… we are at the mercy of our governments and blatantly undermining them is only going to be an uphill battle. (buying and selling drugs on the internet? Really? You really thought that was going to last?) Look at what happened to the Liberty Reserve… It was outed as currency used strictly for the buying and selling of drugs, money laundering and other illicit activities. Look at what happened there… Its gone! Whats worse? Bitcoin having a little hiccup along the way or being completely shutdown?

More creative and profound uses for Bitcoin will come in the future rather than just being used to buy drugs… This is what people are investing in. This is what is holding up the value. The fact that Bitcoin didn’t just crash and burn to the ground after Silk Road went down is a testament to its strength.

Selling drugs is a copout… C’mon… any monkey can do that. Lets think of some more creative uses for Bitcoin.

Today was a great day! I didn’t sell a single Feathercoin, as it was holding strong like a Rock… Silk Road was the dark cloud hanging over Bitcoin and I’m glad we are now past the stigma of Bitcoin being associated with illicit activity. We can now move forward and build a reputation built on positive merits.

(plus this whole Silk Road thing is going to make an excellent movie one day 8))

If you were lucky enough to have some spare BTCs or USD… There were definitely some good opportunities to be had

As for the belief that the alt coins move in the inverse direction of BTC… This seems to be a new trend people are following and it is certainly not always case. Lets not forget during Feathercoins last rise during the end of July, FTC was moving in unison with BTC.

After the initial panic, Bitcoin snapped back like a rubber band and should continue its longterm rise as Feathercoin continues its newfound upward trend.

[quote name=“chrisj” post=“30119” timestamp=“1380726266”]
This is the competition I am thinking of running on Twitter:

“Did you know you can buy Feathercoins for Dollars at @coinmkt? First 50 people to RT this get 10 $FTC”

Do you think that’s enough, too much? This is the 500 FTC Justabit gave to me before he left because he set it up with the guys at CoinMkt.
[/quote]

Looks good to me. But as Kevlar said… the $ sign threw me off a bit

+1 for reddit

Very nice. Looking forward to more of these weekly announcements. +10

[quote name=“Kevlar” post=“28958” timestamp=“1379961558”]
[quote author=birddog link=topic=3754.msg28951#msg28951 date=1379958457]
[quote author=Kevlar link=topic=3754.msg28945#msg28945 date=1379955707]
[quote author=birddog link=topic=3754.msg28941#msg28941 date=1379952001]
MCXnow will provide a lot of added volume for FTC.
[/quote]

MCXNow’s volume is less than 1/10th of BTC-e for LTC, which has more volume than Cryptsy, which is a whole lot more popular than MCXNow.

I see no reason to believe that it will look any different than any other exchanges: TONS of sell pressure, and almost no buyers.
[/quote]

What happens when traders decide to pull their sell orders from BTC-e and move them to MCXnow? The orderbook thins, thus relieving some of the sell pressure.[/quote]

Why would traders decide to do this? The prices won’t be higher than BTC-e, in fact they’re likely to be slightly lower, more in line with Cryptsy’s. The reason WHY they’re all on BTC-e is BECAUSE the price is higher and the volume greater. It’s a chicken and egg problem: Without volume, no one will come. Without anyone coming, no volume.[/quote]

Well for one, MCXnow offers interest on deposits. I know for a fact there are some large holders that might see this as an attractive incentive. Why have your FTC locked up in sell orders when you can be earning interest on them at another exchange? For many FTC holders, the added interest is a non-factor as the daily accrued interest will be negligible. But for the larger holders, an additional couple dozen FTC a day on your otherwise overpriced FTC might be enough to make the switch.

Case in point: David Pate sending 200,000 LTC over there last night.

I’ve been checking things out over at MCXnow over the past couple weeks and every day I see more and more familiar names of BTC-e traders popping up in the chat box. Volumes are increasing steadily as well as user count.

Don’t get me started on Cryptsy… that place is a cesspool of crapcoins…

The sell orders on FTC over at BTC-e have a major psychological impact on investors. Its like standing at the base of Mount Everest wearing nothing but flip flops and a t-shirt. There’s not a lot of confidence in making it over that mountain…

If some of those orders decide to move to MCXnow because of incentives like added interest and a little faster trading engine… that mountain may shrink a little and become a little more manageable to climb.

I know… I’m probably being a little overly optimistic, but a man can dream cant he? 8)

[quote name=“ghostlander” post=“28950” timestamp=“1379957830”]
[quote author=unkunku link=topic=3702.msg28940#msg28940 date=1379948997]
A quick look at the orderbook together with the current order values on BTC-e should tell you where the price of FTC is heading without market manipulation ( capital injection ), that will say straight south. [url=http://www.feathercoin.com/charts/]http://www.feathercoin.com/charts/[/url] and [url=https://btc-e.com/exchange/ftc_btc]https://btc-e.com/exchange/ftc_btc[/url][/quote]
This is not a calculation. This is a subjective observation. Market prices are volatile, no surprise there. Real value comes from mass adoption, merchants and services. Feathercoin does very well in this direction. I see no other altcoin to show a better progress.

[quote author=unkunku link=topic=3702.msg28940#msg28940 date=1379948997]
More regarding Zerocoin, if FTC does not implement Zerocoin first, then someone else will, and it’s just soo much easier to be first just as Bitcoin was first in cryptoworld.
[/quote]
Guys, if you or anyone else want to implement Zerocoin for Feathercoin, there is no problem. Do the job and make people happy. I’m not saying Zerocoin is a worthless junk. I just don’t consider this feature of top importance, other developers also don’t seem to be motivated enough. That’s all.
[/quote]

People seem to want Zerocoin from what I can tell.

The market has reacted positively to Novacoin and Anoncoin adding Zerocoin. A jump in value confirms market agreement.

So who here has the ability to implement Zerocoin for Feathercoin?

I’ve got 200 FTC to donate to the cause.

[quote name=“Kevlar” post=“28945” timestamp=“1379955707”]
[quote author=birddog link=topic=3754.msg28941#msg28941 date=1379952001]
MCXnow will provide a lot of added volume for FTC.
[/quote]

MCXNow’s volume is less than 1/10th of BTC-e for LTC, which has more volume than Cryptsy, which is a whole lot more popular than MCXNow.

I see no reason to believe that it will look any different than any other exchanges: TONS of sell pressure, and almost no buyers.
[/quote]

What happens when traders decide to pull their sell orders from BTC-e and move them to MCXnow? The orderbook thins, thus relieving some of the sell pressure.

I don’t see any other services popping up promoting people to fill their wallets with FTC. ;)

Even if it is a small volume boost, It should be seen as a victory.

The rate at which Feathercoins are being minted is what is having a negative impact on the market depth. Lots of coins being made, not enough demand for these coins.