Bitcoin at $1050.. China "inspection" has to be coming.

hase0278

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Quote from: snipie on March 15, 2017, 04:04:20 PM

Quote from: SaShiRaJaVu on March 14, 2017, 01:39:26 PM

Quote from: Famnant on March 14, 2017, 12:29:29 PM

Most wealthy people do not know about bitcoin. Even all the bitcoins are used in the capital flight, it is less than $20 billion.

Most wealthy people might not know about bitcoin or are not interested in investing in bitcoin as it might be hard for them to understand about how these things work,they will be having their own way to make maintain their assets like in the stock exchange and so on and if ETF was approved there might be a chance to see more investors pouring money in bitcoin.

People already having billions of dollars in their pockets will prohibit them from thinking about bitcoin for a while but when they will wake up it will be too late Wink

For the big companies i am pretty sure that they are aware but they are waiting. Someone needs to start so the others will follow one by one

I agree with you. All bitcoin users I think just needs to stop thinking about China inspection becausw it got nothing to do with us. I know that it might affect the price but I doubt if they would still make huge impact on market right now specially that they dump the coins they got because of inspections. Soon though China would not have any influence in price.

snipie

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Quote from: SaShiRaJaVu on March 14, 2017, 01:39:26 PM

Quote from: Famnant on March 14, 2017, 12:29:29 PM

Most wealthy people do not know about bitcoin. Even all the bitcoins are used in the capital flight, it is less than $20 billion.

Most wealthy people might not know about bitcoin or are not interested in investing in bitcoin as it might be hard for them to understand about how these things work,they will be having their own way to make maintain their assets like in the stock exchange and so on and if ETF was approved there might be a chance to see more investors pouring money in bitcoin.

People already having billions of dollars in their pockets will prohibit them from thinking about bitcoin for a while but when they will wake up it will be too late Wink

For the big companies i am pretty sure that they are aware but they are waiting. Someone needs to start so the others will follow one by one

SaShiRaJaVu

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Quote from: Famnant on March 14, 2017, 12:29:29 PM

Most wealthy people do not know about bitcoin. Even all the bitcoins are used in the capital flight, it is less than $20 billion.

Most wealthy people might not know about bitcoin or are not interested in investing in bitcoin as it might be hard for them to understand about how these things work,they will be having their own way to make maintain their assets like in the stock exchange and so on and if ETF was approved there might be a chance to see more investors pouring money in bitcoin.

Famnant

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Quote from: richardsNY on March 03, 2017, 02:46:41 PM

Quote from: Hazir on March 03, 2017, 02:34:49 PM

Quote from: richardsNY on March 03, 2017, 01:51:56 PM

Right now the demand is purely coming from western exchanges. I am quite satisfied with how the PBOC broke down the leading role of Chinese exchanges. It was all hot air that right now clearly has vanished. Remember how much FUD was coming from China, which time on time again caused the market to go South heavily? It feels good seeing that China is losing its significance in Bitcoin trading. They don't contribute, but just take and destroy. Reckless gamblers are they.

I share your opinion and I am glad that China appears to be no longer the key factor in setting up the price of BTC.
At the same time I don't think we are out of the woods yet. Chinese traders shifted their attention from centralized exchanges to p2p trading.
PBoC might still see Bitcoin as potential asset which is used to transfer money out of the china and fight with Yuan devaluation.
There is always a possibility that in the future they might enforce some ridiculous restrictions.

Capital flight is indeed the main sensitive spot of the paranoid Chinese government, but even though Bitcoin serves perfectly for that purpose, the wealthy individuals aren't tied to Bitcoin in that regard. They have alternative ways of securing their wealth elsewhere. The harder the government is forcing through their idiotic regulations, the further it will drive people from exchanges. That's why I believe that p2p trading will continue to boom in China.

Most wealthy people do not know about bitcoin. Even all the bitcoins are used in the capital flight, it is less than $20 billion.

richardsNY

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Quote from: Hazir on March 03, 2017, 02:34:49 PM

Quote from: richardsNY on March 03, 2017, 01:51:56 PM

Right now the demand is purely coming from western exchanges. I am quite satisfied with how the PBOC broke down the leading role of Chinese exchanges. It was all hot air that right now clearly has vanished. Remember how much FUD was coming from China, which time on time again caused the market to go South heavily? It feels good seeing that China is losing its significance in Bitcoin trading. They don't contribute, but just take and destroy. Reckless gamblers are they.

I share your opinion and I am glad that China appears to be no longer the key factor in setting up the price of BTC.
At the same time I don't think we are out of the woods yet. Chinese traders shifted their attention from centralized exchanges to p2p trading.
PBoC might still see Bitcoin as potential asset which is used to transfer money out of the china and fight with Yuan devaluation.
There is always a possibility that in the future they might enforce some ridiculous restrictions.

Capital flight is indeed the main sensitive spot of the paranoid Chinese government, but even though Bitcoin serves perfectly for that purpose, the wealthy individuals aren't tied to Bitcoin in that regard. They have alternative ways of securing their wealth elsewhere. The harder the government is forcing through their idiotic regulations, the further it will drive people from exchanges. That's why I believe that p2p trading will continue to boom in China.

Hazir

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Quote from: richardsNY on March 03, 2017, 01:51:56 PM

Right now the demand is purely coming from western exchanges. I am quite satisfied with how the PBOC broke down the leading role of Chinese exchanges. It was all hot air that right now clearly has vanished. Remember how much FUD was coming from China, which time on time again caused the market to go South heavily? It feels good seeing that China is losing its significance in Bitcoin trading. They don't contribute, but just take and destroy. Reckless gamblers are they.

I share your opinion and I am glad that China appears to be no longer the key factor in setting up the price of BTC.
At the same time I don't think we are out of the woods yet. Chinese traders shifted their attention from centralized exchanges to p2p trading.
PBoC might still see Bitcoin as potential asset which is used to transfer money out of the china and fight with Yuan devaluation.
There is always a possibility that in the future they might enforce some ridiculous restrictions.

manselr

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Quote from: richardsNY on March 03, 2017, 01:51:56 PM

Quote from: Famnant on March 03, 2017, 11:26:25 AM

Quote from: Herbert2020 on February 21, 2017, 06:01:01 AM

forget about China inspection now, price broke the $1100 resistance.
China and their public bank and what it says has started to get less and less importance, they are out of the game and even if they weren't the FUD of an "inspection" can not last forever, you can only use the same approach for FUD a couple of limited times not forever!
and right now we are on the rise and nobody talks about the inspection. and inspection is in progress

The price is already $1298. I think the influences by the Chinese are getting less and less as time goes on.

Right now the demand is purely coming from western exchanges. I am quite satisfied with how the PBOC broke down the leading role of Chinese exchanges. It was all hot air that right now clearly has vanished. Remember how much FUD was coming from China, which time on time again caused the market to go South heavily? It feels good seeing that China is losing its significance in Bitcoin trading. They don't contribute, but just take and destroy. Reckless gamblers are they.

OTC trading for the chinese dollar is at all time highs, localbitcoin is getting used to replace the frozen exchanges, but indeed, we no longer depend on chinese traders which is good news, they got the mining monopoly, we can't let them any monopoly on anything else.

richardsNY

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Quote from: Famnant on March 03, 2017, 11:26:25 AM

Quote from: Herbert2020 on February 21, 2017, 06:01:01 AM

forget about China inspection now, price broke the $1100 resistance.
China and their public bank and what it says has started to get less and less importance, they are out of the game and even if they weren't the FUD of an "inspection" can not last forever, you can only use the same approach for FUD a couple of limited times not forever!
and right now we are on the rise and nobody talks about the inspection. and inspection is in progress

The price is already $1298. I think the influences by the Chinese are getting less and less as time goes on.

Right now the demand is purely coming from western exchanges. I am quite satisfied with how the PBOC broke down the leading role of Chinese exchanges. It was all hot air that right now clearly has vanished. Remember how much FUD was coming from China, which time on time again caused the market to go South heavily? It feels good seeing that China is losing its significance in Bitcoin trading. They don't contribute, but just take and destroy. Reckless gamblers are they.

Famnant

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Quote from: Herbert2020 on February 21, 2017, 06:01:01 AM

forget about China inspection now, price broke the $1100 resistance.
China and their public bank and what it says has started to get less and less importance, they are out of the game and even if they weren't the FUD of an "inspection" can not last forever, you can only use the same approach for FUD a couple of limited times not forever!
and right now we are on the rise and nobody talks about the inspection. and inspection is in progress

The price is already $1298. I think the influences by the Chinese are getting less and less as time goes on.

Herbert2020

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forget about China inspection now, price broke the $1100 resistance.
China and their public bank and what it says has started to get less and less importance, they are out of the game and even if they weren't the FUD of an "inspection" can not last forever, you can only use the same approach for FUD a couple of limited times not forever!
and right now we are on the rise and nobody talks about the inspection. and inspection is in progress

Ekanenf

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Quote from: BrewMaster on February 20, 2017, 12:54:03 PM

you should all stop waiting around for China to make a move and then you make your move. because while you are waiting around impotently, all the whales all around the world are accumulating coins and getting ready to make their move without you.
China is not going anywhere...

The Chinese are less relevant now.

jubalix

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It wont be an "inspection" but some sort of new PBOC or some other Chinese gov realted action, proclamation, btc is now illegal etc.

However the market will become increasing immune to this as it seems the exchanges have no BTC anyway hence the band on withdrawals, and they were likely selling other people BTC to try and keep the market down.

Even if wrong, the market will bore of repeated PBOC whatever.

sakinaka

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Another China inspection and its consequences, whatever they are, will have a lot less important effect on the price. Last time, with the exchanges closed, the biggest part of the worldwide volume disappeared. Now, from what I red in the day, the effect would be a lot less important given how the volume fled from China to settle equaly around the world.

BrewMaster

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There is trouble abrewing

you should all stop waiting around for China to make a move and then you make your move. because while you are waiting around impotently, all the whales all around the world are accumulating coins and getting ready to make their move without you.
China is not going anywhere...

audaciousbeing

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Quote from: spazzdla on February 17, 2017, 10:40:18 AM

Do you think it will be in less than 24 hours?

Lol this is really funny, This same thing I didnt believe until the last one happened when I had read it few days before and I was thinking its just a mere coincidence and nothing else until when price starts crashing and I read again, its due to Chinese inspection. But this time, I want to still hold the believe that it wont happen because the inspection has been ongoing since the last time and the price of bitcoin, has equally maintained stability.

Vaccinus

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Quote from: aardvark15 on February 18, 2017, 04:49:59 PM

Is something keeping the ceiling at $1070? Bitcoin seems to not be able to break through for some reason.

not the first time the price look artificially limited, like when was stuck for week at $400-500, remember the $500 mental barrier, i'm not sure like other that this can be because of regulation in PBOC and frozen withdrawals

cellard

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Quote from: Famnant on February 20, 2017, 11:42:45 AM

Quote from: ?? on ??

Im also sick of hearing PBOC this, PBOC that. I look forward to seeing Chinah as an inconsequential player in bitcoin.

The more the PBOC interferes, the less effect it has.

Indeed, we are seeing the effect of repeated action at work. The more they attack, the less impressive the attack is, that's what happens when they try that tactic, its useless, it losses the the initial impact. Now all it does is a feedback effect where the price recovers stronger.

Famnant

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Quote from: ?? on ??

Im also sick of hearing PBOC this, PBOC that. I look forward to seeing Chinah as an inconsequential player in bitcoin.

The more the PBOC interferes, the less effect it has.

cellard

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Quote from: talkbitcoin on February 19, 2017, 06:11:10 AM

China has lost their share of the market since their exchanges went out of the scene and they no longer are relevant to bitcoin price. we may see some random FUD here and there but no more inspections, suspension,.... can affect bitcoin price as big as they used to.

besides, if you really think about it with some logic. no amount of inspection or even disabling of exchanges can stop bitcoin price from going up, because as we can evidently see, people will continue buying bitcoin even if it means going to a back alley and exchanging bitcoin with cash as they are currently doing in China and on localbitcoins.

The price lags behind on OkCoin, its confirmed, now we are looking at Bitfinex and Bitstamp for the global price reference.

The dip we saw recently was just normal development of ups and downs, so now we are back at 1063.74 (bistamp price) and growing. The march towards a new ATH continues.

talkbitcoin

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All I know is that I know nothing.

China has lost their share of the market since their exchanges went out of the scene and they no longer are relevant to bitcoin price. we may see some random FUD here and there but no more inspections, suspension,.... can affect bitcoin price as big as they used to.

besides, if you really think about it with some logic. no amount of inspection or even disabling of exchanges can stop bitcoin price from going up, because as we can evidently see, people will continue buying bitcoin even if it means going to a back alley and exchanging bitcoin with cash as they are currently doing in China and on localbitcoins.

Topic: Bitcoin at $1050.. China "inspection" has to be coming. (Read 2646 times)