Topic: China: Worst case scenario. (Read 2072 times)
Huobi represents 65% of the volume!!! That's huge.
its very clear to anyone not in euphoria that the chinese are pumping BTC to unload it on you guys soon
you will be the last bagholders of BTC
anyone who is risking more than they can afford to lose should get out now
you will be the last bagholders of BTC
anyone who is risking more than they can afford to lose should get out now
Chinese exchanges are FOLLOWING the leads of the Western exchanges. Their volume is quite low too compared to MtGox, BitStamp, BTC-E. So, I really don't think they are in any shape or form to have to ability to pump and dump. The rise in bitcoin price is an organic nature: market is anticipating the Wallstreet entry, the Christmas Syndrome (where bitcoiners tell their aunts, uncles, nephews/nieces/whatnots and they all to buy in), etc... China syndrome is over, they may have led the world to where bitcoin is now but their time is past, it's back to the US and the Europeans to lead.
How do you get that Chinese exchange's volumes are low compared to gox, stamp, etc?
http://bitcoinity.org/markets/list?currency=ALL&span=24h
http://btckan.com/price
Chinese exchanges are FOLLOWING the leads of the Western exchanges. Their volume is quite low too compared to MtGox, BitStamp, BTC-E. So, I really don't think they are in any shape or form to have to ability to pump and dump. The rise in bitcoin price is an organic nature: market is anticipating the Wallstreet entry, the Christmas Syndrome (where bitcoiners tell their aunts, uncles, nephews/nieces/whatnots and they all to buy in), etc... China syndrome is over, they may have led the world to where bitcoin is now but their time is past, it's back to the US and the Europeans to lead.
Agree 100%
That said, the biggest problem facing the Bitcoin community outside China is psychological. As a Chinese contributor said the other day, if the Chinese get excited again and the price rises too quickly, the government might get twitchy. But as far as I can tell everyone is getting excited! This could mean further steps to dampen Bitcoin in China.
The key thing to remember and to explain to others is that at this stage the effect outside China is purely psychological, not realistic. But I am optimistic. I think we will soon break the previous ATH, strongly associated with China, and at this point it will become more and more clear that Bitcoin does not need China for plenty of growth in the foreseeable future.
its very clear to anyone not in euphoria that the chinese are pumping BTC to unload it on you guys soon
you will be the last bagholders of BTC
anyone who is risking more than they can afford to lose should get out now
you will be the last bagholders of BTC
anyone who is risking more than they can afford to lose should get out now
Chinese exchanges are FOLLOWING the leads of the Western exchanges. Their volume is quite low too compared to MtGox, BitStamp, BTC-E. So, I really don't think they are in any shape or form to have to ability to pump and dump. The rise in bitcoin price is an organic nature: market is anticipating the Wallstreet entry, the Christmas Syndrome (where bitcoiners tell their aunts, uncles, nephews/nieces/whatnots and they all to buy in), etc... China syndrome is over, they may have led the world to where bitcoin is now but their time is past, it's back to the US and the Europeans to lead.
Incredible figure of state believers here. State terror was the bitcoin booster from the beginning, and now it should be its death?
That is the strange logic of the 'prohibition-works!'-believers.
That is the strange logic of the 'prohibition-works!'-believers.
its very clear to anyone not in euphoria that the chinese are pumping BTC to unload it on you guys soon
you will be the last bagholders of BTC
anyone who is risking more than they can afford to lose should get out now
you will be the last bagholders of BTC
anyone who is risking more than they can afford to lose should get out now
This list is based on trust that the exchanges are telling the truth about their trade volumes. So it's not proof.
the whole bitcoin market depends on the numbers presented (and fulfilled) by the exchanges. if you dont trust their numbers, what kind of proof are you looking for?
is there a special reason to doubt the exchanges on their volume (and maybe a proof)?
You can ask one simple question:
Can their numbers be manipulated? Yes or No?
If the answer is Yes, then their numbers can't never be proof.
The same "Yes" answer is the proof you asked to doubt the exchanges on their volume data. Something that can be manipulated results in doubt right?
Can you point us to some statistics in the Bitcoin world which you are 100% sure are not manipulated?
This list is based on trust that the exchanges are telling the truth about their trade volumes. So it's not proof.
the whole bitcoin market depends on the numbers presented (and fulfilled) by the exchanges. if you dont trust their numbers, what kind of proof are you looking for?
is there a special reason to doubt the exchanges on their volume (and maybe a proof)?
You can ask one simple question:
Can their numbers be manipulated? Yes or No?
If the answer is Yes, then their numbers can't never be proof.
The same "Yes" answer is the proof you asked to doubt the exchanges on their volume data. Something that can be manipulated results in doubt right?
He can go to Bitcoinwisdom and check the trades and volumes on the main CNY exchanges as they are happening. Is that good enough for y'all?
No because this can also be manipulated. In the end there's no way to prove.
And if the likes of OKCoin and Huobi are manipulating trades or trade data then that would be an even bigger fkn horror story for those interested in a high Bitcoin prices, cos that would mean the price has been getting pushed up on the back of fraudulent transactions. If that came out, the market would have to admit that everyone has been tricked into paying well over the odds for their Bitcoins.
That would be like the reverse effect of the bullion banks admitting they only ever have around 4% of the physical gold to back the paper certificates that they issued.
Oh yeah, and I don't give a damn what anyone says about USD trading having decoupled from China, cos everytime I check, China still seems to be leading the way, especially when some kind of meaningful move is concerned.
That would be like the reverse effect of the bullion banks admitting they only ever have around 4% of the physical gold to back the paper certificates that they issued.
Oh yeah, and I don't give a damn what anyone says about USD trading having decoupled from China, cos everytime I check, China still seems to be leading the way, especially when some kind of meaningful move is concerned.
Bitcoin doesn't depend on what the chinese government say.. It's much bigger than that
It probably is, what else can you check?
Oh wait, secret (and manipulated) exchanges data!
Sure he has access to that
He can go to Bitcoinwisdom and check the trades and volumes on the main CNY exchanges as they are happening. Is that good enough for y'all?
And if the likes of OKCoin and Huobi are manipulating trades or trade data then that would be an even bigger fkn horror story for those interested in a high Bitcoin prices, cos that would mean the price has been getting pushed up on the back of fraudulent transactions. If that came out, the market would have to admit that everyone has been tricked into paying well over the odds for their Bitcoins.
That would be like the reverse effect of the bullion banks admitting they only ever have around 4% of the physical gold to back the paper certificates that they issued.
Oh yeah, and I don't give a damn what anyone says about USD trading having decoupled from China, cos everytime I check, China still seems to be leading the way, especially when some kind of meaningful move is concerned.
This list is based on trust that the exchanges are telling the truth about their trade volumes. So it's not proof.
the whole bitcoin market depends on the numbers presented (and fulfilled) by the exchanges. if you dont trust their numbers, what kind of proof are you looking for?
is there a special reason to doubt the exchanges on their volume (and maybe a proof)?
NO, why don't you show the source??? Don't tell me that your source is fiatleak.com data
http://bitcoinity.org/markets/list?currency=ALL&span=24h
This list is based on trust that the exchanges are telling the truth about their trade volumes. So it's not proof.
NO, why don't you show the source??? Don't tell me that your source is fiatleak.com data
http://bitcoinity.org/markets/list?currency=ALL&span=24h
LOLOLOL
hahahaha
hahahaha
Seriously, WTF are you talking about!?
CNY transactions still account for more than half of all Bitcoin exchange volume.
CNY transactions still account for more than half of all Bitcoin exchange volume.
What is your source for this?
Are you serious?
If you are trading or investing in Bitcoins, u must surely know plentiful sources for this
Right?
NO, why don't you show the source??? Don't tell me that your source is fiatleak.com data
It probably is, what else can you check?
Oh wait, secret (and manipulated) exchanges data!
Sure he has access to that
www.btckan.com/price
Seriously, WTF are you talking about!?
CNY transactions still account for more than half of all Bitcoin exchange volume.
CNY transactions still account for more than half of all Bitcoin exchange volume.
What is your source for this?
Are you serious?
If you are trading or investing in Bitcoins, u must surely know plentiful sources for this
Right?
NO, why don't you show the source??? Don't tell me that your source is fiatleak.com data
It probably is, what else can you check?
Oh wait, secret (and manipulated) exchanges data!
Sure he has access to that
otherwise why the hell are they still all trading a commodity that there government has meant to have just given a death sentence to?
I really wish I could give a death sentence to all news about China but I guess that is just not realistic.
Seriously, WTF are you talking about!?
CNY transactions still account for more than half of all Bitcoin exchange volume.
CNY transactions still account for more than half of all Bitcoin exchange volume.
What is your source for this?
Are you serious?
If you are trading or investing in Bitcoins, u must surely know plentiful sources for this
Right?
NO, why don't you show the source??? Don't tell me that your source is fiatleak.com data
Omg i dont like these posts... so you think when china really bans bitcoin that there would be enough people trading BTC in the black market that could sustain current demand?
and you, what do you think? That all chinese are waiting to take action only on the last week of january ?
So show us some proof that chinese transactions are still more than half of all bitcoins. A lot of people saying that but no one proves it.
Seriously, WTF are you talking about!?
CNY transactions still account for more than half of all Bitcoin exchange volume.
CNY transactions still account for more than half of all Bitcoin exchange volume.
What is your source for this?
Are you serious?
If you are trading or investing in Bitcoins, u must surely know plentiful sources for this
Right?
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