Author

Topic: Bitcoin now Cheaper in China ? (Read 1646 times)

legendary
Activity: 966
Merit: 1004
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December 16, 2013, 09:18:40 PM
#14
The best news lately around bitcoin was that a bakery accepts bitcoin  Tongue
Does anyone seriously expects the price to take off like that?  Embarrassed

It depends what kind of bread do they make?  Grin


bitcoin powered Cronuts FTW!  Smiley
sr. member
Activity: 308
Merit: 251
Giga
December 16, 2013, 08:53:23 AM
#13
Quote
TLDNR; there is a meeting with regulators and all 3rd payment processors in china, and is not just two CEOs of payment processors in Chine made a weibo post saying transactions to exchanges will be banned, they later deleted both posts after the panic sell they triggered in china

http://tieba.baidu.com/p/2763806115
Now BTCChina adding trading fees - somethings up for sure!

BTC China valued customer: To stabilize the recent turbulent Bitcoin market and minimize potential market manipulation, BTC China will end the 0% trading fee promotion, effective immediately, and revert to the 0.3% trading fee. We deeply apologize for the sudden change. BTC China, December 16, 2013

https://bitcointalksearch.org/topic/m.3990707

The panic selling definitely started in China as evidenced by the lower chinese exchange prices.

What is going on? can someone verify the news?

http://www.reddit.com/r/BitcoinMarkets/comments/1t0733/china_news_2_ceos_of_payment_processors_tweeted/

Thanks for that info, looks like that's exactly what induced today's sell off. The price was already fragile as it is.

What's not clear is, are chinese payment processors really banned from transferring money to exchanges. If that is true and not just a false tweet, this week will be v ugly.
full member
Activity: 157
Merit: 100
December 16, 2013, 08:38:38 AM
#12
Quote
TLDNR; there is a meeting with regulators and all 3rd payment processors in china, and is not just two CEOs of payment processors in Chine made a weibo post saying transactions to exchanges will be banned, they later deleted both posts after the panic sell they triggered in china

http://tieba.baidu.com/p/2763806115
Now BTCChina adding trading fees - somethings up for sure!

BTC China valued customer: To stabilize the recent turbulent Bitcoin market and minimize potential market manipulation, BTC China will end the 0% trading fee promotion, effective immediately, and revert to the 0.3% trading fee. We deeply apologize for the sudden change. BTC China, December 16, 2013

https://bitcointalksearch.org/topic/m.3990707

The panic selling definitely started in China as evidenced by the lower chinese exchange prices.

What is going on? can someone verify the news?

http://www.reddit.com/r/BitcoinMarkets/comments/1t0733/china_news_2_ceos_of_payment_processors_tweeted/
newbie
Activity: 28
Merit: 0
December 16, 2013, 08:33:58 AM
#11
Bitcoin is likely crashing due to the perceived future ineptitude, or increased cost of, converting BTC into Yuan ( or inversely ).
sr. member
Activity: 308
Merit: 251
Giga
December 16, 2013, 08:06:25 AM
#10
I just noticed that Bitcoin is now trading for $740-$770, they're usually higher or equal to non-chinese exchanges.

Why do you think is the reason for this and are we about to witness strong selling today and this week?
North America waking up soon, we have already dropped. I'd imagine we'll be chasing China soon.

Guess you're right, we're at $770 at Bistamp already, 10% down.
sr. member
Activity: 252
Merit: 250
December 16, 2013, 07:39:21 AM
#9
Btcchina has just introduced a 0.3% trading fee. Shocked

Good because now we 'll see a more accurate number of the actual volume in btcchina.
That has nothing to do with the drop though
legendary
Activity: 2632
Merit: 1023
December 16, 2013, 07:28:43 AM
#8
Btcchina has just introduced a 0.3% trading fee. Shocked

this
legendary
Activity: 1246
Merit: 1000
December 16, 2013, 07:24:48 AM
#7
Btcchina has just introduced a 0.3% trading fee. Shocked
sr. member
Activity: 252
Merit: 250
December 16, 2013, 07:04:44 AM
#6
The best news lately around bitcoin was that a bakery accepts bitcoin  Tongue
Does anyone seriously expects the price to take off like that?  Embarrassed
legendary
Activity: 1022
Merit: 1001
December 16, 2013, 06:59:44 AM
#5
Some big buy orders starting to queue up
hero member
Activity: 634
Merit: 500
December 16, 2013, 06:38:22 AM
#4
bounce at $850.

Absolute lowest $750.
sr. member
Activity: 476
Merit: 250
December 16, 2013, 06:37:49 AM
#3
The downtrend has been pretty obvious in chinese exchanges for the last 2 weeks.
People that think that it was only a correction that's now over clearly don't pay attention in china...
legendary
Activity: 840
Merit: 1000
December 16, 2013, 06:32:58 AM
#2
I just noticed that Bitcoin is now trading for $740-$770, they're usually higher or equal to non-chinese exchanges.

Why do you think is the reason for this and are we about to witness strong selling today and this week?
North America waking up soon, we have already dropped. I'd imagine we'll be chasing China soon.
sr. member
Activity: 308
Merit: 251
Giga
December 16, 2013, 05:58:42 AM
#1
I just noticed that Bitcoin is now trading for $740-$770, they're usually higher or equal to non-chinese exchanges.

Why do you think is the reason for this and are we about to witness strong selling today and this week?
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