Topic: BTCChina start to charge trading fees now, another sell off may be expected. - page 2. (Read 2495 times)
December 16, 2013, 10:52:58 AM
Laughing hard at people that thought no fees policy would last forever.
December 16, 2013, 10:50:55 AM
BTCChina knows clearly if they are the only one charge trading fees in China, they are going to die.
Every exchange that doesn't make money is going to die eventually.The question is, who's got the deepest pockets? It seems BTCChina decided it's time to stop bleeding money, maybe they felt they've established themselves well enough by now.
December 16, 2013, 10:45:18 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!)
Well, Bitcoin whales would be a bit more discouraged from rolling Bitcoins around various accounts in order to bid the price up.
or to push it down
December 16, 2013, 10:36:23 AM
Going to be awkward to wake up and realise that your high frequency spread-trading bot spent all your money on fees because BTCChina raised their fees effective immediately.
December 16, 2013, 10:30:50 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!)
Well, Bitcoin whales would be a bit more discouraged from rolling Bitcoins around various accounts in order to bid the price up.
December 16, 2013, 10:28:57 AM
BTCChina start to charge trading fees 3 hours ago, and most users didn't know it until they are charged. Since lots of bitcoin buyers in China are day traders looking for quick money, we may expect a continued sell off in the coming days.
BTCChina knows clearly if they are the only one charge trading fees in China, they are going to die. So they(all exchanges in China) could be forced by the government, BTCChina is just the first(they are the first to ask users provide ID information too, after the gov said so)and other exchanges would follow later.
Another bad news is the gov forbid third party like paypal(specifically "zhifubao" by Alibaba and "caifutong" by Tencent) to cooperate with exchanges. Now this news is not officially confirmed, however it's very likely to be true, since third party was on Chinese exchanges' website before, and they are gone now.
BTCChina knows clearly if they are the only one charge trading fees in China, they are going to die. So they(all exchanges in China) could be forced by the government, BTCChina is just the first(they are the first to ask users provide ID information too, after the gov said so)and other exchanges would follow later.
Another bad news is the gov forbid third party like paypal(specifically "zhifubao" by Alibaba and "caifutong" by Tencent) to cooperate with exchanges. Now this news is not officially confirmed, however it's very likely to be true, since third party was on Chinese exchanges' website before, and they are gone now.
They could also not sell , withdraw their coins and search for a different exchanger.
Also , why should people sell if it cost them money now?
If this is not confirmed news , then ...... you know how we call this kind of stuff here
.
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!)
December 16, 2013, 10:10:34 AM
Hide your wife, hide your kids. Sell all, Bitcoin is doomed 
December 16, 2013, 10:07:45 AM
BTCChina start to charge trading fees 3 hours ago, and most users didn't know it until they are charged. Since lots of bitcoin buyers in China are day traders looking for quick money, we may expect a continued sell off in the coming days.
BTCChina knows clearly if they are the only one charge trading fees in China, they are going to die. So they(all exchanges in China) could be forced by the government, BTCChina is just the first(they are the first to ask users provide ID information too, after the gov said so)and other exchanges would follow later.
Another bad news is the gov forbid third party like paypal(specifically "zhifubao" by Alibaba and "caifutong" by Tencent) to cooperate with exchanges. Now this news is not officially confirmed, however it's very likely to be true, since third party was on Chinese exchanges' website before, and they are gone now.
Edit:
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
BTCChina knows clearly if they are the only one charge trading fees in China, they are going to die. So they(all exchanges in China) could be forced by the government, BTCChina is just the first(they are the first to ask users provide ID information too, after the gov said so)and other exchanges would follow later.
Another bad news is the gov forbid third party like paypal(specifically "zhifubao" by Alibaba and "caifutong" by Tencent) to cooperate with exchanges. Now this news is not officially confirmed, however it's very likely to be true, since third party was on Chinese exchanges' website before, and they are gone now.
Edit:
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
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