China bans Bitcoin, the price go down

crocko

hero member

Activity: 826

Merit: 1000

'All that glitters is not gold'

Quote from: Easy2Mine on December 19, 2013, 11:12:50 AM

Do you understand that even small miners who start to mine in 2011 have a couple k bitcoins and that miners who start to mine now will also have a few hundreds bitcoins in a few years time.
If you do not know how bitcoin works and how btc/dollar is related in the future, you have to ask your money back from your primary school.

you are so out of topic !

nastybit

newbie

Activity: 42

Merit: 0

Quote from: Easy2Mine on December 19, 2013, 11:12:50 AM

Do you understand that even small miners who start to mine in 2011 have a couple k bitcoins and that miners who start to mine now will also have a few hundreds bitcoins in a few years time.
If you do not know how bitcoin works and how btc/dollar is related in the future, you have to ask your money back from your primary school.

It seems like Easy2Mine doesn't like you much crocko LOL

Anyway, the sell off has already finished, it didn't last much eh?
We are back at $700 on MtGox, say xièxiè for the cheap coins

Easy2Mine

hero member

Activity: 854

Merit: 500

einc.io

Do you understand that even small miners who start to mine in 2011 have a couple k bitcoins and that miners who start to mine now will also have a few hundreds bitcoins in a few years time.
If you do not know how bitcoin works and how btc/dollar is related in the future, you have to ask your money back from your primary school.

crocko

hero member

Activity: 826

Merit: 1000

'All that glitters is not gold'

Quote from: DrG on December 18, 2013, 06:53:01 PM

10 seconds in BTCe Trollbox will give you all the news (and FUD) you will ever need. Longterm no effect. Short term volume retraction.

Thank you for the reply, but I don't like the Trollbox. Not all the information from there can be trusted.

DrG

legendary

Activity: 2086

Merit: 1035

10 seconds in BTCe Trollbox will give you all the news (and FUD) you will ever need. Longterm no effect. Short term volume retraction.

crocko

hero member

Activity: 826

Merit: 1000

'All that glitters is not gold'

Hello !

I think I found an explanation for the fall of the Bitcoin price:

The Chinese central bank took a hard line two weeks ago, banning the country’s financial institutions from handling Bitcoin transactions.
On Monday, China's central bank ordered third-party payment platforms to stop giving clearing services to bitcoin, litecoin and other crypto-currencies before the end of January.
Although the People’s Bank of China said individuals were still free to trade it at their own risk, the ban on third-party payment service providers from doing Bitcoin business effectively makes new purchases of the virtual currency impossible.
With its booming market for commerce, China had been seen by Bitcoin enthusiasts as fertile ground for the virtual currency. However, regulators were concerned that people could use Bitcoins to skirt the country’s capital controls. They also grew alarmed at the rampant speculative demand for Bitcoins, warning it had the makings of a bubble.
As result, the bitcoin prices has lost almost 50% of its value overnight after Shanghai-based exchange BTC China said it could no longer accept deposits in the Chinese currency (CNY) , sparking a major global sell-off.

What do you think ? When this will end ?

Topic: China bans Bitcoin, the price go down (Read 931 times)