BTCChina start to charge trading fees now, another sell off may be expected.

AlbertKing

newbie

Activity: 14

Merit: 0

Yes sometimes it's very slow to inject your coins. Better prepare it before the show even start.

Quote from: FenixRD on December 16, 2013, 05:59:22 PM

Quote from: AlbertKing on December 16, 2013, 04:29:29 PM

I hope you guys sell at $840(the price when I write this) and buy back at $720(the price 5 hours later), that's a 17% ROI.

a rumor/speculating post is just for this kind of effect I guess.

For those who dont give a F about profit, well my hat's off to you.

Tipping Address:
188vSXijbqQGzBRXNzJzvF1U9bgBPRPpiN

I tried to dickhead, but your goddamn exchange, BTCChina ate my BTC for the duration of the drop...

("dickhead" is jokingly, btw. I'm with you, all I wanted was to make my damn 17% or so; anytime I can increase my holdings of BTC I'm happy)

FenixRD

sr. member

Activity: 364

Merit: 250

I am Citizenfive.

Quote from: AlbertKing on December 16, 2013, 04:29:29 PM

I hope you guys sell at $840(the price when I write this) and buy back at $720(the price 5 hours later), that's a 17% ROI.

a rumor/speculating post is just for this kind of effect I guess.

For those who dont give a F about profit, well my hat's off to you.

Tipping Address:
188vSXijbqQGzBRXNzJzvF1U9bgBPRPpiN

I tried to dickhead, but your goddamn exchange, BTCChina ate my BTC for the duration of the drop...

("dickhead" is jokingly, btw. I'm with you, all I wanted was to make my damn 17% or so; anytime I can increase my holdings of BTC I'm happy)

AlbertKing

newbie

Activity: 14

Merit: 0

You may feel it arbitrary but I'm just trying to tell you the truth, it's hard to get the idea if you don't actrually live here.

Quote from: CoinCidental on December 16, 2013, 04:31:29 PM

Quote from: AlbertKing on December 16, 2013, 04:18:25 PM

You are wrong.
We buy bitcoins to make a profit.

Quote from: CoinCidental on December 16, 2013, 02:29:28 PM

the chinese were buying btc for a couple of reasons and one of them was property tax evasion
(property bought with btc was not taxed )
but the main one was to bypass current laws on chinese citizens being restricted to moving money
out of china (its illegal to transfer more than $50,000 out of china in a single year)

they can claim to be speculators or whatever but i believe these reasons are more important to them
than any other reason to buy bitcoins

you can speak for every single chinese person whos ever bought BTC's ?

CoinCidental

legendary

Activity: 1316

Merit: 1000

Si vis pacem, para bellum

Quote from: AlbertKing on December 16, 2013, 04:18:25 PM

You are wrong.
We buy bitcoins to make a profit.

Quote from: CoinCidental on December 16, 2013, 02:29:28 PM

the chinese were buying btc for a couple of reasons and one of them was property tax evasion
(property bought with btc was not taxed )
but the main one was to bypass current laws on chinese citizens being restricted to moving money
out of china (its illegal to transfer more than $50,000 out of china in a single year)

they can claim to be speculators or whatever but i believe these reasons are more important to them
than any other reason to buy bitcoins

you can speak for every single chinese person whos ever bought BTC's ?

AlbertKing

newbie

Activity: 14

Merit: 0

I hope you guys sell at $840(the price when I write this) and buy back at $720(the price 5 hours later), that's a 17% ROI.

a rumor/speculating post is just for this kind of effect I guess.

For those who dont give a F about profit, well my hat's off to you.

Tipping Address:
188vSXijbqQGzBRXNzJzvF1U9bgBPRPpiN

AlbertKing

newbie

Activity: 14

Merit: 0

You are wrong.
We buy bitcoins to make a profit.

Quote from: CoinCidental on December 16, 2013, 02:29:28 PM

the chinese were buying btc for a couple of reasons and one of them was property tax evasion
(property bought with btc was not taxed )
but the main one was to bypass current laws on chinese citizens being restricted to moving money
out of china (its illegal to transfer more than $50,000 out of china in a single year)

they can claim to be speculators or whatever but i believe these reasons are more important to them
than any other reason to buy bitcoins

FenixRD

sr. member

Activity: 364

Merit: 250

I am Citizenfive.

Quote from: emanymton on December 16, 2013, 02:52:33 PM

Quote from: FenixRD on December 16, 2013, 02:49:03 PM

I thought they maybe had proven themselves, but I currently have a deposit going on 10+ confirmations. They quote 5 as the requirement for credit, but in my BTCChina account it still says "awaiting fund" despite THEIR OWN LINK sending me to Blockchain which shows 10 confirmations currently: https://blockchain.info/address/1M2QZepTyKXD7SH6mhWw7GL2cT4KNQE4ay (technically they send you here - https://blockchain.info/zh-cn/address/1M2QZepTyKXD7SH6mhWw7GL2cT4KNQE4ay to the Chinese version)

WTF is going on.

btcchina is the new gox Tongue

Interestingly, I send from Coinbase. IIRC, BTCChina's CEO is the brother of the creator of Litecoin, who is employed by Coinbase... (small world). One of them should slap the other over the phone.

emanymton

full member

Activity: 219

Merit: 106

Quote from: FenixRD on December 16, 2013, 02:49:03 PM

I thought they maybe had proven themselves, but I currently have a deposit going on 10+ confirmations. They quote 5 as the requirement for credit, but in my BTCChina account it still says "awaiting fund" despite THEIR OWN LINK sending me to Blockchain which shows 10 confirmations currently: https://blockchain.info/address/1M2QZepTyKXD7SH6mhWw7GL2cT4KNQE4ay (technically they send you here - https://blockchain.info/zh-cn/address/1M2QZepTyKXD7SH6mhWw7GL2cT4KNQE4ay to the Chinese version)

WTF is going on.

btcchina is the new gox Tongue

FenixRD

sr. member

Activity: 364

Merit: 250

I am Citizenfive.

I thought they maybe had proven themselves, but I currently have a deposit going on 10+ confirmations. They quote 5 as the requirement for credit, but in my BTCChina account it still says "awaiting fund" despite THEIR OWN LINK sending me to Blockchain which shows 10 confirmations currently: https://blockchain.info/address/1M2QZepTyKXD7SH6mhWw7GL2cT4KNQE4ay (technically they send you here - https://blockchain.info/zh-cn/address/1M2QZepTyKXD7SH6mhWw7GL2cT4KNQE4ay to the Chinese version)

WTF is going on.

mccoyspace

full member

Activity: 237

Merit: 101

sub 4000 on btcchina

CoinCidental

legendary

Activity: 1316

Merit: 1000

Si vis pacem, para bellum

the chinese were buying btc for a couple of reasons and one of them was property tax evasion
(property bought with btc was not taxed )
but the main one was to bypass current laws on chinese citizens being restricted to moving money
out of china (its illegal to transfer more than $50,000 out of china in a single year)

they can claim to be speculators or whatever but i believe these reasons are more important to them
than any other reason to buy bitcoins

seleme

legendary

Activity: 2772

Merit: 1028

Duelbits.com

Quote from: bootlace on December 16, 2013, 12:20:18 PM

Quote from: seleme on December 16, 2013, 12:13:59 PM

No, you don't give us any hints, nobody is giving any tips here but everybody is trying to spread stuff that could eventually help the price go where they want it nor do I care about your hints to be honest. You're noob, you're panicking seing price going down a bit, hardly anything to give a damn about Grin

So don't expect me to thank you, sorry Shocked

Take your shitty attitude and gtfo if you don't like it - some people here actually want to discuss/speculate on rumors/breaking news. Sick of blind zealots blasting anyone who dares bring up something negative.

Don't be nervous mate, you're make your money back again, it's Bitcoin Grin

bootlace

full member

Activity: 364

Merit: 100

Justice as a Service Infrastructure

Quote from: seleme on December 16, 2013, 12:13:59 PM

No, you don't give us any hints, nobody is giving any tips here but everybody is trying to spread stuff that could eventually help the price go where they want it nor do I care about your hints to be honest. You're noob, you're panicking seing price going down a bit, hardly anything to give a damn about Grin

So don't expect me to thank you, sorry Shocked

Take your shitty attitude and gtfo if you don't like it - some people here actually want to discuss/speculate on rumors/breaking news. Sick of blind zealots blasting anyone who dares bring up something negative.

seleme

legendary

Activity: 2772

Merit: 1028

Duelbits.com

No, you don't give us any hints, nobody is giving any tips here but everybody is trying to spread stuff that could eventually help the price go where they want it nor do I care about your hints to be honest. You're noob, you're panicking seing price going down a bit, you're making a big deal of a business stopping to not make a money - hardly anything to give a damn about Grin

So don't expect me to thank you, sorry Shocked

AlbertKing

newbie

Activity: 14

Merit: 0

And I'll be honest with you too, I don't care about what you say either.

Just give some hints to you guys here if you dunno what's happening in China right now.

Now Mt.Gox is $840 Bitstamp $775 and BTCChina is & 760, very unusual.

Quote from: seleme on December 16, 2013, 11:08:46 AM

Albert, let me be perfectly honest with you - I couldn't give a flying one what typical Chinese trader is and what he is going to do now.

China hype is used well, they can all stop trading now as far as I am concerned. I'd actually be perfectly happy if China factor would be completely wiped out from Bitcoin scene, sick of noobs shitting their pants whenever China farts.

AlbertKing

newbie

Activity: 14

Merit: 0

I'm sorry but they do.
Watch closely the real time Chart of Mt.Gox & BTCChina and you will know.

Mt.Gox chart is a very very effective tool when they manipulate the price in china, they do it all the time.

And please don't tell me Chinese exchange price doesn't affect mt.gox chart at all.

Quote from: nate008 on December 16, 2013, 11:03:08 AM

Quote from: AlbertKing on December 16, 2013, 10:59:10 AM

Because typical day traders in China is called "投机客"(gambler? I donno how to translate), many of them are from WenZhou city, they only enter a market if it's proved to be profitable, and leave when it's not.

Without trading fees, they can do a lot of tricks and earn small money everytime, however now every time they do this, 0.6% of their money(not their profit) would go straight to the exchange, so they must ensure the profit of the specific operation is larger than 0.6% , which, is in fact very hard, especially when they couldn't do things like traps with 0 cost now.

And when they leave, they won't let you know, however the total money invested in bitcoin would be less and less when they leave, so you can guess what the price would be then.

Please remember it's just them who caused the november price boom of bitcoin in China.

Quote from: crazy_rabbit on December 16, 2013, 10:24:13 AM

Why would it cause a selloff? Buying or Selling now costs money to do. People should now be less likely to trade. (Not to mention, make BTCChina some nice money!)

Were they trading on Mtgox and Bitstamp also? I don't think so.
It wasn't the 投机客 who drove the price up on western exchangers , it was the hype.

So , we get China out of the picture , should the price collapse? Why?
Comparing the latest good news with the "baidu accepting coins" , I think we're better right now.

seleme

legendary

Activity: 2772

Merit: 1028

Duelbits.com

Albert, let me be perfectly honest with you - I couldn't give a flying one what typical Chinese trader is and what he is going to do now.

China hype is used well, they can all stop trading now as far as I am concerned. I'd actually be perfectly happy if China factor would be completely wiped out from Bitcoin scene, sick of noobs shitting their pants whenever China farts.

BitchicksHusband

sr. member

Activity: 378

Merit: 255

Quote

投机客

I got "speculator", which sounds right.

nate008

member

Activity: 70

Merit: 10

Quote from: AlbertKing on December 16, 2013, 10:59:10 AM

Because typical day traders in China is called "投机客"(gambler? I donno how to translate), many of them are from WenZhou city, they only enter a market if it's proved to be profitable, and leave when it's not.

Without trading fees, they can do a lot of tricks and earn small money everytime, however now every time they do this, 0.6% of their money(not their profit) would go straight to the exchange, so they must ensure the profit of the specific operation is larger than 0.6% , which, is in fact very hard, especially when they couldn't do things like traps with 0 cost now.

And when they leave, they won't let you know, however the total money invested in bitcoin would be less and less when they leave, so you can guess what the price would be then.

Please remember it's just them who caused the november price boom of bitcoin in China.

Quote from: crazy_rabbit on December 16, 2013, 10:24:13 AM

Why would it cause a selloff? Buying or Selling now costs money to do. People should now be less likely to trade. (Not to mention, make BTCChina some nice money!)

Were they trading on Mtgox and Bitstamp also? I don't think so.
It wasn't the 投机客 who drove the price up on western exchangers , it was the hype.

So , we get China out of the picture , should the price collapse? Why?
Comparing the latest good news with the "baidu accepting coins" , I think we're better right now.

AlbertKing

newbie

Activity: 14

Merit: 0

Because typical day traders in China is called "投机客"(gambler? I donno how to translate), many of them are from WenZhou city, they only enter a market if it's proved to be profitable, and leave when it's not.

Without trading fees, they can do a lot of tricks and earn small money everytime, however now every time they do this, 0.6% of their money(not their profit) would go straight to the exchange, so they must ensure the profit of the specific operation is larger than 0.6% , which, is in fact very hard, especially when they couldn't do things like traps with 0 cost now.

And when they leave, they won't let you know, however the total money invested in bitcoin would be less and less when they leave, so you can guess what the price would be then.

Please remember it's just them who caused the november price boom of bitcoin in China.

Quote from: crazy_rabbit on December 16, 2013, 10:24:13 AM

Why would it cause a selloff? Buying or Selling now costs money to do. People should now be less likely to trade. (Not to mention, make BTCChina some nice money!)

Topic: BTCChina start to charge trading fees now, another sell off may be expected. (Read 2495 times)