BITCOIN DUMP - CHINESE ARE OFFLOADING...

Silberman

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Quote from: Wendigo on September 14, 2017, 04:40:29 AM

The Chinese are sly little bastards. First they drive the price into the ground with scare tactics and scoop up a lot of cheap crypto and then when the price recovers and hits a new high they will sell it back to the people they have bought it from for a nice profit lol. Chinese economics 101 Grin

Well to be honest that is basic economics 101, there are countries that export oil, however they buy oil derived products like gasoline instead of creating those products themselves and selling for an even bigger price, so if they are willing to sell their bitcoin for a loss and buy again when it is very high then who we are to stop them, let them lose their money and pay the consequences.

thejaytiesto

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Activity: 1358

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Chink chank chunk, where is the dump? because we are doing pretty good. Right now we are on the right track to $5000. We didn't even test the $4000 dip that I expected. The price is primed for a pop. Any further news on people leaving the NYA nonsense will accelerate the rise. Im confident that yes, there will be a hardfork, but the legacy chain will win. I think we have enough hashrate for dumps to happen, and the exchanges not letting this feud be solved by the free market by listing both legacy and 2Xcoin better get their ass ready for an army of class actions.

ivrynx

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Activity: 518

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This is good.thing for the rest of us, except for the chinese, i think they all wanted to sell out now their bitcoins, since they can no longer use them, and probably in the future, their government might just take hem away from them or worse their btcoins might go out of circulation and may not be bought. I think this is the only thing that they could do now, however, i think they should not loose hope, since there will come a time, that their government will lift the ban, since bitcoin is getting stronger and they cannot make a counterfeit bitcoin if that is what they are planning. China should lift their ban as soon as possible or else they will be left out this time, and only their millionaires might afford bitcoin when they do it in fsrther in the future.

lilRoy07

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Activity: 154

Merit: 100

i was on the money with my call -

and again something interesting happened.

Was purchasing BTC on LBC for a close friend-

The person I purchased off offered me BTC for $4000 outside of LBC. I asked how many he had, he said as many I need.
another dump coming? FFS

ridiculous.

BartS

sr. member

Activity: 980

Merit: 255

Quote from: Wendigo on September 14, 2017, 04:40:29 AM

The Chinese are sly little bastards. First they drive the price into the ground with scare tactics and scoop up a lot of cheap crypto and then when the price recovers and hits a new high they will sell it back to the people they have bought it from for a nice profit lol. Chinese economics 101 Grin

This is not strange, the Chinese government has been accused of being a currency manipulator, they keep the price of their currency depressed so that does not hurt their exports to other countries, so I do not think it is weird that they have found a way to manipulate the price of bitcoin in order to benefit from it, this is something people need to learn and avoid selling when a dump like that is underway.

lilRoy07

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Activity: 154

Merit: 100

when is it rebounding

1Referee

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Quote from: leopard2 on September 14, 2017, 03:24:31 PM

Chinese are smart, they used this tactics many time before. At 250$, at 1000$, now 5000$ ... every time they make profit from stupid Western panic sellers

It's indeed no coincidence that these Chinese actions follow at moments where the price has increased significantly. That's why I as trader, no matter how bullish the entire market is, always remain conservative after massive price increases. I expected the correction to kick in somewhere around the $4000 level, but it happened at near $5000 levels (USD exchanges didn't touch $5000). This is how traders end up making big money - cash out when the market reaches its boiling point, and in this case it was nearly $5000. If the market ends up tanking far below the $3000 level, it will result in you being able to buy back with a proper 50% discount - life isn't all that bad, or is it? Wink

BartS

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Activity: 980

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Quote from: lilRoy07 on September 11, 2017, 11:47:09 PM

I've picked up some extra BTC over the last couple of days, in my hometown there was a local seller on LBC - a chinese man. He said he had to dump all his coins within the next couple of days and offered me 45 BTC for $150k. I don't have 150k laying around, but i picked up 3 for 10k

he said his friends had hundreds of BTC if i was interested.

Is a monster dump on the way?

It seems a dump is underway while this hurts the price in the short term I’m sick and tired abut all this new about China, let them sell all their coins and let bitcoin alone and it will be a lot more stable, I cannot wait for the day adoption gets bigger in other parts of the world so we can stop worrying about what the Chinese government is going to do next.

fearcoka

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Activity: 1008

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Quote from: suvo05 on September 14, 2017, 02:29:20 PM

Quote from: lilRoy07 on September 11, 2017, 11:47:09 PM

I've picked up some extra BTC over the last couple of days, in my hometown there was a local seller on LBC - a chinese man. He said he had to dump all his coins within the next couple of days and offered me 45 BTC for $150k. I don't have 150k laying around, but i picked up 3 for 10k

he said his friends had hundreds of BTC if i was interested.

Is a monster dump on the way?

yup you are right seems like monster dump on the way. Still I can't believe that only Ico banning in china made that situation in the market.Looks like hurricane came and blows away everything. Embarrassed

Nope, the bad news China banned ICO market not enough for makes the price of Bitcoin falls down today, the main reason is an Chinese exchange Bitcoin/Altcoin BTCC have announce they will close their exchange in 30/09. Wink

Doell

hero member

Activity: 2156

Merit: 531

be careful you can lose a few days or months ahead bitcoin will go down a lot, they wait for your prey to resell this is money strategy politics.

leopard2

legendary

Activity: 1372

Merit: 1014

Chinese are smart, they used this tactics many time before. At 250$, at 1000$, now 5000$ ... every time they make profit from stupid Western panic sellers

Wonder how many BTC the Chinese government has collected already...they have 50% of the world's mining power, they could destoy Bitcoin if they really wanted but what they really want, is cheap coinz Cheesy

suvo05

sr. member

Activity: 1162

Merit: 260

Quote from: lilRoy07 on September 11, 2017, 11:47:09 PM

I've picked up some extra BTC over the last couple of days, in my hometown there was a local seller on LBC - a chinese man. He said he had to dump all his coins within the next couple of days and offered me 45 BTC for $150k. I don't have 150k laying around, but i picked up 3 for 10k

he said his friends had hundreds of BTC if i was interested.

Is a monster dump on the way?

yup you are right seems like monster dump on the way. Still I can't believe that only Ico banning in china made that situation in the market.Looks like hurricane came and blows away everything. Embarrassed

cryptounicon

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Activity: 210

Merit: 100

Just some healthy consolidation before the next leg up....I picked up some litecoin on the cheap today. 20% discount from yesterday's prices. Not bad if I don't say so myself. I love sale days. The Chinese should feel free to help redistribute more BTC for the rest of us in the world. Cheesy

cocoinin

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Quote from: lilRoy07 on September 14, 2017, 07:52:04 AM

BTC Its the end.

It's the volatility, man!

Adbitco

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Leading Crypto Sports Betting & Casino Platform

Quote from: lilRoy07 on September 11, 2017, 11:47:09 PM

I've picked up some extra BTC over the last couple of days, in my hometown there was a local seller on LBC - a chinese man. He said he had to dump all his coins within the next couple of days and offered me 45 BTC for $150k. I don't have 150k laying around, but i picked up 3 for 10k

he said his friends had hundreds of BTC if i was interested.

Is a monster dump on the way?

You really bought them or is it just a cooked up story? Where's the txid? I may agree that the recent drop might be on account of China taking an action to regulate ICOs and crypto exchanges but I don't think it's going to have bad effect on bitcoin in the long run, bitcoin will bounce back and the prices will see an upward trend reaching an ATH soon.

alyssa85

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Quote from: DonQuijote on September 14, 2017, 08:08:43 AM

Quote from: lilRoy07 on September 14, 2017, 07:52:04 AM

i tried to warn everyone. Its $3500 right now.

BTC Its the end.

F**K

They knew. THEY FKN KNEW.

Sry but You are new, you know nothing

He did know - he knew that chinese were offloading coins based on some insider information, and that it signalled something bad.

And today we found out what that info was - BTCC is closing down.

lilRoy07, well done on your call.

DonQuijote

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♠ ♥ ♣ ♦ < ♛♚&#

Quote from: lilRoy07 on September 14, 2017, 07:52:04 AM

i tried to warn everyone. Its $3500 right now.

BTC Its the end.

F**K

They knew. THEY FKN KNEW.

Sry but You are new, you know nothing

lilRoy07

full member

Activity: 154

Merit: 100

i tried to warn everyone. Its $3500 right now.

BTC Its the end.

F**K

They knew. THEY FKN KNEW.

stompix

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Activity: 2912

Merit: 6403

Blackjack.fun

Quote from: vit05 on September 13, 2017, 10:51:53 AM

Quote from: Totscha on September 13, 2017, 10:49:44 AM

Quote from: vit05 on September 13, 2017, 10:19:32 AM

...
What is GDAX?

http://lmgtfy.com/?q=gdax

I know what it is. I am asking if @stompix know.

Don't be a smart ass and do your research a little deeper.
Gdax is the trading platform run by Coinbase but clearing payments in business and user wallets are not reported in GDAX so that volume is still "hidden".

Quote from: Wendigo on September 14, 2017, 04:40:29 AM

The Chinese are sly little bastards. First they drive the price into the ground with scare tactics and scoop up a lot of cheap crypto and then when the price recovers and hits a new high they will sell it back to the people they have bought it from for a nice profit lol. Chinese economics 101 Grin

Well, this theory is a bit sketchy cause the price in China is lower that in US and Europe.
So any margin trader would scoop coins from chinese owners and sell to European Markets.

If the price bounces back china would have sold at 3300 and Europe would have bought at 3800, not so profitable, isn't it?

Wendigo

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The Chinese are sly little bastards. First they drive the price into the ground with scare tactics and scoop up a lot of cheap crypto and then when the price recovers and hits a new high they will sell it back to the people they have bought it from for a nice profit lol. Chinese economics 101 Grin

Topic: BITCOIN DUMP - CHINESE ARE OFFLOADING... (Read 3945 times)