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Bitcoin Tumbles Most in More Than Two Years After Record Run
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2017-06-17 at 2:01 PM UTC
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2017-06-17 at 2:09 PM UTCdarknet market prices gonna rise now :(
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2017-06-17 at 2:39 PM UTC
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2017-06-17 at 3 PM UTCwat is fud
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2017-06-17 at 4:22 PM UTCit drotted 500 wow get a life obv that op sold lmoa
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2017-06-17 at 5:06 PM UTC
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2017-06-17 at 7:48 PM UTCAlready bounced back, at $2650 right now. The same thing happened after it reached 3K within the last few weeks, then it went back up the $2,800's.
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2017-06-17 at 7:53 PM UTC
Also 3 months ago when it went from 1200 to 1000. -
2017-06-17 at 7:59 PM UTC
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2017-06-17 at 8:43 PM UTC
Originally posted by aldra aren't they pegged to the exchange rate? unless you're talking about btc you already have being worth less
yeah, although drops in BTC value equal losses for anyone holding significant quantities of bitcoin, meaning most actors in the supply chain took a hit. I'd be surprised if that doesn't get passed on to consumers sooner or later. -
2017-06-17 at 9:01 PM UTCfunny how the price of darknet drugs doesn't really go down when btc soars tho
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2017-06-17 at 9:20 PM UTCdrug dealers aren't all that concerned about passing savings on to customers. Who woulda thunk.
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2017-06-17 at 9:26 PM UTC
^ plus they've got enough shit to do besides figuring small price adjustments for ever changing BTC value. -
2017-06-17 at 9:39 PM UTC
Originally posted by Lanny drug dealers aren't all that concerned about passing savings on to customers. Who woulda thunk.
What makes you think the market process doesn't lead to the best vendors rising to the top in part because they make long-term adjustments for fluctuations in bitcoin? Not only that, but their income is more than enough to simply eat the cost and keep prices stable. -
2017-06-17 at 9:50 PM UTCTime to invest soon.
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2017-06-17 at 10:20 PM UTC
Originally posted by Malice What makes you think the market process doesn't lead to the best vendors rising to the top in part because they make long-term adjustments for fluctuations in bitcoin? Not only that, but their income is more than enough to simply eat the cost and keep prices stable.
Because it's a black market, not a free market. The rates of exit scamming are way higher than a free market is going to reasonably support, there is no recourse strategy in property disputes, and even the most venerable of vendors expect the ephemeral nature of DNMs. No one is planning to be in the market for decades or generations. -
2017-06-17 at 10:35 PM UTCThe state and prohibition is wholly responsible for that. In a truly free drug market businesses could be tied to identities and the ability to take legal action/sue would be possible.
Statism is the root of all evil. -
2017-06-17 at 10:56 PM UTC
Originally posted by Malice The state and prohibition is wholly responsible for that. In a truly free drug market businesses could be tied to identities and the ability to take legal action/sue would be possible.
Statism is the root of all evil.
National drug policy is the reason drug markets need to operate outside of state enforcement of property law, yes. But the lack of a reliable mediating force (like the state) is the reason exit scams are endemic and property rights are effectively non-existent in DNMs. States can have liberal drug policies which would allow fairly above-the-board economically viable drug trade, there's nothing inherently hostile to that in the existence of a state.
I mean hey, great case in point: cannabis. Regulated production and distribution had produced significantly cheaper, higher quality product than wild west DNMs. Same thing with alcohol, no one sells booze on DNMs. Why? Doing so is effectively operating in the absence of the state: no consumer safety red tape, no taxes, shouldn't an ancap model anticipate this would produce a superior or cheaper product?
No, it turns out that buying access to courts and the associated structures of contract enforcement at the cost of taxation and regulation is the economically optimal strategy. -
2017-06-17 at 11:23 PM UTC" no consumer safety red tape, no taxes, shouldn't an ancap model anticipate this would produce a superior or cheaper product?"
You don't understand the ancap model. -
2017-06-21 at 2:46 PM UTClol
