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 name=“birddog” post=“30186” timestamp=“1380775163”]
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]