Topic: BREAKING NEWS: Bobby Lee Confirms Bitcoin China Ban, It's finally Happened - page 2. (Read 5683 times)
April 02, 2014, 06:27:25 AM
China money is coming in right now.
April 02, 2014, 03:12:55 AM
Institutional investors with millions/billions will not be buying on exchanges. They will go directly to KnC/BFL/Chinese and maybe that Washington mining company. They will not be buying from exchanges. That is the biggest fallacy with your otherwise balanced view.
They might ensure that the exchange price is driven to the depths of despair in order to give them a better bargaining position with regards to price that they pay for their OTC Bitcoins.
April 02, 2014, 02:05:22 AM
Agreed. So what if the news is true. The assumption that they will not be able to move CNY to an abroad exchange and back into China is idiotic. For the bitcoin is "banned" crowd, Stop, close your eyes and think past that humming sound between your ears. I am not going to draw you a map to reality.
April 02, 2014, 12:12:01 AM
From the article:
"One of the people familiar with the latest directive said that the central bank does not intend to ban bitcoin trading in China, and said the move is to "enforce what was already said in the December document." That document had said bitcoin is not a currency with "real meaning" and does not have the same legal status as a currency, but that the public is free to buy and sell bitcoin online provided that they accept the risk."
Bitcoin is not banned in China. China is now enforcing rules they put in place that say banks and similar institutions can not offer bitcoin accounts or transact in bitcoin.
The same rules apply for gold. Chinese banks can not open 'gold' accounts in the same manner as yen. Gold is a commodity and operates through that infrastructure. China is doing the same for bitcoin.
If you think bitcoin is "banned" in China, then you also would have to believe that gold is banned in China, which is absurd...
Edit: Impulse beat me to the exact same quote. That's two people that saw this right away, wonder why the OP didn't
"One of the people familiar with the latest directive said that the central bank does not intend to ban bitcoin trading in China, and said the move is to "enforce what was already said in the December document." That document had said bitcoin is not a currency with "real meaning" and does not have the same legal status as a currency, but that the public is free to buy and sell bitcoin online provided that they accept the risk."
Bitcoin is not banned in China. China is now enforcing rules they put in place that say banks and similar institutions can not offer bitcoin accounts or transact in bitcoin.
The same rules apply for gold. Chinese banks can not open 'gold' accounts in the same manner as yen. Gold is a commodity and operates through that infrastructure. China is doing the same for bitcoin.
If you think bitcoin is "banned" in China, then you also would have to believe that gold is banned in China, which is absurd...
Edit: Impulse beat me to the exact same quote. That's two people that saw this right away, wonder why the OP didn't
wonder why the OP didn't...
Perhaps OP is trying to deceive people?
"
OKCoin CEO Xu Mingxing said that if Chinese exchanges can't accept money into corporate accounts, they would likely have to incorporate themselves abroad and also move their servers overseas. "
No banks allowed to deal with exchanges = pretty much a fucking ban
Why else would okcoin CEO want to move overseas
Not really, I think China just doesn't want their banks anywhere near these crypto exchanges because if the exchanges go rogue like Mt. Gox, there's just too much drama and paperwork. Until the crypto exchanges have demonstrated sufficient maturity, I doubt any bank anywhere would want to work with them. http://www.law360.com/classaction/articles/522182/japanese-bank-denies-aiding-alleged-mt-gox-fraud
The Chinese are free to trade cryptos as they see fit, however, they will be limited by the I think US$50000 yearly limit their government allows them to remit to overseas exchanges/banks. If they have more than US$50000 per year they want to remit, I'm sure they've already got mechanisms in place to do so.
April 01, 2014, 11:41:14 PM
FAKE NEWS GUYS.. WHY so stupid ?? why did u guys believed it? LOL!!
April 01, 2014, 11:11:13 PM
Most of the people still don´t get it. It´s not about the news that will push the market downwards, it´s about the chinese money that will leave n goes into effect can the market in a few days.
I do not get this. Are there exchange controls that prevent how much money one can bring into China? Otherwise someone holding BTC in China after the "ban" goes into effect can sell the BTC abroad and then repatriate the funds.
Most countries that have exchange controls aim to prevent funds in the form of local currency from leaving the country not the other way around.
Try China homie and you will get to know the real meaning of CONTROL! Even bringing in money is not as easy as you think...
April 01, 2014, 11:08:36 PM
I saw a few postings about this article (on reddit and coindesk).
What do you think will result from this and will anything significant happend april 15th
Also, will price go up from here or stay similar?
What do you think will result from this and will anything significant happend april 15th
Also, will price go up from here or stay similar?
WE WILL GO DOWN! millions of dollars are leavin the market. no fresh chinese money comin in.~4000 new coins are mined everyday and have to be bought.
There is only one way.
DOWN
Second that~ Game over man, game over! The gig is up....each to their own, better get out while you can~
April 01, 2014, 10:58:04 PM
I just talked to MY autistic friend, and he says cosmotard is retarded, along with HIS autistic friend.
Did u give them all a pudding cup as reward
April 01, 2014, 10:37:58 PM
I just talked to MY autistic friend, and he says cosmotard is retarded, along with HIS autistic friend.
April 01, 2014, 08:56:21 PM
How many times does it need to be confirmed before the bears realise that the panic is over, and now the buying pressure has overcome all the pathetic selling forces that are left. Bitcoins are undervalued.
I scanned through this thread pretty well not reading any posts until I found someone with a track record of balanced and analytical posts. I found just you. I would like to inform you however that the panic is not over, and Bitcoin is not undervalued. I believe that the market is due another leg up where it will retest the long term descending right angled triangle, and for this reason, I am currently long Bitcoin. But looking further ahead, than the next few days, the news around about Bitcoin right now is horrible, and whilst I understand that MSM hype or negativity is the ultimate in contrarian indicators, there is also this issue of masses of stolen, Chinese, and newly mined coins that are looking to cash out.
Once $380 support fails, then this will instigate a massive psychological change in the market, turning formerly strong hands to weak hands. Then the Bitcoin market will get to know all about despair. I said before, I reckon the $200 range lies ahead in the not too distant future. Quote me for truth if you like.
It has been tested again & again.....
It wont go below 405...I am happy to bet 1BTC if there are any takers that the closing price on a 5 min candle on stamp is below 405 in the next 2 weeks
Realistically with the amount of volatility around I would take my own bet
April 01, 2014, 08:35:30 PM
Quote
finally Happened
I quickly read, firmly Happened April 01, 2014, 08:35:23 PM
again poor cosmofly making a FUD LOL!
this news is fake guys..
this news is fake guys..
April 01, 2014, 08:34:53 PM
Wait for a few days before panicking. I want the price to reach at least 550.
Selling at 480, buying at 430 is not much fun.
Selling at 480, buying at 430 is not much fun.
April 01, 2014, 08:28:33 PM
Institutional investors with millions/billions will not be buying on exchanges. They will go directly to KnC/BFL/Chinese and maybe that Washington mining company. They will not be buying from exchanges. That is the biggest fallacy with your otherwise balanced view.
April 01, 2014, 08:14:35 PM
How many times does it need to be confirmed before the bears realise that the panic is over, and now the buying pressure has overcome all the pathetic selling forces that are left. Bitcoins are undervalued.
I scanned through this thread pretty well not reading any posts until I found someone with a track record of balanced and analytical posts. I found just you. I would like to inform you however that the panic is not over, and Bitcoin is not undervalued. I believe that the market is due another leg up where it will retest the long term descending right angled triangle, and for this reason, I am currently long Bitcoin. But looking further ahead, than the next few days, the news around about Bitcoin right now is horrible, and whilst I understand that MSM hype or negativity is the ultimate in contrarian indicators, there is also this issue of masses of stolen, Chinese, and newly mined coins that are looking to cash out.
Once $380 support fails, then this will instigate a massive psychological change in the market, turning formerly strong hands to weak hands. Then the Bitcoin market will get to know all about despair. I said before, I reckon the $200 range lies ahead in the not too distant future. Quote me for truth if you like.
It was only a few months ago when we were all so excited about wall street, rumours of Paypal, ebay etc, and even some banks toying with the idea of entering the bitcoin market. these forces outweigh 100:1 any catastrophe bitcoin has ever faced. Dont forget them, because they are only just around the corner, billions of dollars can stream in within days. Im sure you are aware that the largest of investors require catastrophe to enter the market. how could an investor inject a billion dollars into this market without driving the price to oblivion? no, this is the opportune moment the smart money has been waiting for.
the panic is over, but where is the fundamental drive? not to be seen. it could come in 2 weeks. we will see, though the chinese certainly do have the whit to prepare, in fact, I think they have. but right now, the theme is risk on. we have now 2 weeks ahead of us to squeeze shorts and think carefully about those rash decisions the panic sellers have made.
ps. thanks for your kind words. and all due respect. you have a good track record also.
April 01, 2014, 07:58:55 PM
How many times does it need to be confirmed before the bears realise that the panic is over, and now the buying pressure has overcome all the pathetic selling forces that are left. Bitcoins are undervalued.
I scanned through this thread pretty well not reading any posts until I found someone with a track record of balanced and analytical posts. I found just you. I would like to inform you however that the panic is not over, and Bitcoin is not undervalued. I believe that the market is due another leg up where it will retest the long term descending right angled triangle, and for this reason, I am currently long Bitcoin. But looking further ahead, than the next few days, the news around about Bitcoin right now is horrible, and whilst I understand that MSM hype or negativity is the ultimate in contrarian indicators, there is also this issue of masses of stolen, Chinese, and newly mined coins that are looking to cash out.
Once $380 support fails, then this will instigate a massive psychological change in the market, turning formerly strong hands to weak hands. Then the Bitcoin market will get to know all about despair. I said before, I reckon the $200 range lies ahead in the not too distant future. Quote me for truth if you like.
April 01, 2014, 06:17:27 PM
Hello Mr. Sampey Sir, i am poor man i live in a matchbox size room since 5 years, i don't have Bitcoin i cannot afford 
only 4 litecoin . I will be very happy if you send me Bitcoin 1GmXN6K6MzBXzGPZ8iv66UtezSPMFCnou4
thank you Mr Sampey !
only 4 litecoin . I will be very happy if you send me Bitcoin 1GmXN6K6MzBXzGPZ8iv66UtezSPMFCnou4thank you Mr Sampey !
I have $15,000 worth of BTC i want to invest it ALL AT ONCE into one or two coins, please put your suggestions here. It has to be a coin that is not overpriced, as in there is still room for like 10x-30x growth within the next 2 weeks, NOT WITHIN THE NEXT 1 year.
Thanks !
Thanks !
Matthecat lost more money today, a perfect reason for him to excrete ass talk. So you say Bitcoin will crash even more to assed levels, lets see then where is the crash ? i can't see $500 BTC only more ass talk.
Don't expect any intelligent people to take you seriously until you start acting maturely.
Lol what a douchebag, u wanna double post OK so will I
Another idiot
Ever heard of sarcasm? I was joking and being sarcastic with sampy he's a nice dude
I won't even bother replying to ur other accusations I already address them before.
U need to find better things to do with ur time that try to defame me
ComOTard relax ...have a pudding cup to settle your nerves
April 01, 2014, 06:14:51 PM
Most of the people still don´t get it. It´s not about the news that will push the market downwards, it´s about the chinese money that will leave the market in a few days.
I think you dont get it comotard
The news forces the market with SELL/BUY orders by factoring in sentiment ..this is how all markets work
x peopel believe the price should be higher and y peopel believe it should be lower
BULLS and BEARS
This lesson proudly brought to you by HIENZ Pudding cups ..
"When you need a bitcoin prediction from retards you cant go past HEINZ pudding cups"
April 01, 2014, 05:43:13 PM
Funny how the whole Mt Gox fiasco couldn't make BTC cheaper than $400 and now the China ban drama isn't working for the bears either. I mean, I want the cheap coins too but it's just not working. You need to spread some legit FUD from now on.
April 01, 2014, 05:42:08 PM
Guys, this is just in fresh news from China and confirms the insider news i previously had, the Ban is REAL.
here you go:
http://www.theaustralian.com.au/business/latest/china-clamps-down-on-bitcoin/story-e6frg90f-1226871648275
BOB LEE ALSO CONFIRMS IT !
Quote:"There will definitely be a negative impact to the exchanges," said Bobby Lee
Get ready for the selling (slaughter) this week.
Here's the insider news (was heavily criticized) i had days earlier: https://bitcointalksearch.org/topic/cosmopolis-prepare-for-bitcoin-266-retest-549790
here you go:
http://www.theaustralian.com.au/business/latest/china-clamps-down-on-bitcoin/story-e6frg90f-1226871648275
BOB LEE ALSO CONFIRMS IT !
Quote:"There will definitely be a negative impact to the exchanges," said Bobby Lee
Get ready for the selling (slaughter) this week.
Here's the insider news (was heavily criticized) i had days earlier: https://bitcointalksearch.org/topic/cosmopolis-prepare-for-bitcoin-266-retest-549790
The way I see it, you are only going to be affected if you have money on a chinese based exchange.
Everything in cold storage is still safe.
Price in the short term is irrelevant. The fundamentals are still in tact. Cryptocurrencies will live on no matter how much fuss the banks and governments dish out.
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