Chinese Bitcoin Exchange Inspections Cause Price Drop and FUD - page 2.

countryfree

legendary

Activity: 3066

Merit: 1047

Your country may be your worst enemy

Quote from: BitcoinHodler on January 11, 2017, 10:37:27 AM

these days traders are so fragile and FUDsters are using this to their advantage. someone in China sneezes and they start spreading FUD that bitcoin is dead Cheesy

i just want this period passes because i am really sick and tired of opening bitcointalk, reddit,... and see another topic about price and China.

Sometimes, I think BTC is run by fudsters.
I bet their next trick will be to tell that using BTC will make you deaf.

manselr

legendary

Activity: 868

Merit: 1006

Quote from: BitcoinHodler on January 11, 2017, 10:37:27 AM

these days traders are so fragile and FUDsters are using this to their advantage. someone in China sneezes and they start spreading FUD that bitcoin is dead Cheesy

i just want this period passes because i am really sick and tired of opening bitcointalk, reddit,... and see another topic about price and China.

All of the oficial chinese statements from the government are always used by fudsters to make rumors out of it. So no matter what they say there will always be people that make tons of rumors out of it and turn good news into terrible fud news like we have been seeing lately. Some people have interests in making bitcoin a mess so they can short, its as simple as that.

jacaf01

hero member

Activity: 742

Merit: 500

The revolutionary trading ecosystem

I think there should be a way to limit the influence of Chinese market on Bitcoin, they control the mining business and also the exchanges. This is bound to happen especially if the exchanges actually has something to hide.

franky1

legendary

Activity: 4410

Merit: 4788

Quote from: Mometaskers on January 11, 2017, 01:39:36 PM

Oh yes, the "buy low, sell high" mantra everyone knows. Grin

A single bitcoin costs double the monthly salary in my country. If it would drop even further, I might be able to manage to buy a few bits that I can hold on to.

so buy a few bits now.. bits= 0.00000100 btc

if 1btc is 2 months wage. then 0.003125btc= 1 hours wage.
you can buy 3125bits for an hours wage

Mometaskers

hero member

Activity: 1764

Merit: 584

Quote from: Kprawn on January 11, 2017, 01:37:06 PM

If people start dumping coins like that, when governments gets involved.. it raise some awkward questions. How much of this money is legal

or are they cautious because they think the government might seize these coins? In any way, EVERY time they shit their pants, and start

selling, the price drops and we pick up CHEAP coins. Seize the opportunity in every situation..... or you will miss out. Grin

Oh yes, the "buy low, sell high" mantra everyone knows. Grin

A single bitcoin costs double the monthly salary in my country. If it would drop even further, I might be able to manage to buy a few bits that I can hold on to.

Mometaskers

hero member

Activity: 1764

Merit: 584

Quote from: franky1 on January 11, 2017, 11:47:24 AM

being racist about a country is like:
blaming texas for the NY bitlicence
blaming california for the parking ticket prices in NYC

try walking up to someone in a non new york state and tell them they are to blame for issues in new york
then repeat it 1.3billion times until it sinks in that its not about america

then realise that 1.3billion chinese are not to blame for just a few chinese individuals living hundreds-thousands of miles apart from eachother

I think I've seen this exact comment before.

Anyway, if they keep doing this that the price drops then more people would be able to buy it, at least those that believe that it's not still dead. Which could then drop prices back up again. If you exchanged fiat for bitcoin there's really no need to worry unless the price dropped way below the price you bought it. If that's the case then might as well just leave it in.

Kprawn

legendary

Activity: 1904

Merit: 1074

If people start dumping coins like that, when governments gets involved.. it raise some awkward questions. How much of this money is legal

or are they cautious because they think the government might seize these coins? In any way, EVERY time they shit their pants, and start

selling, the price drops and we pick up CHEAP coins. Seize the opportunity in every situation..... or you will miss out. Grin

franky1

legendary

Activity: 4410

Merit: 4788

being racist about a country is like:
blaming texas for the NY bitlicence
blaming california for the parking ticket prices in NYC

try walking up to someone in a non new york state and tell them they are to blame for issues in new york
then repeat it 1.3billion times until it sinks in that its not about america

then realise that 1.3billion chinese are not to blame for just a few chinese individuals living hundreds-thousands of miles apart from eachother

digaran

copper member

Activity: 1330

Merit: 899

🖤😏

Who cares? the same way of thinking got us here with rises and hard drops to think that bitcoin is all about china but bitcoin is not really about one country or two and good thing about it is every one can contribute and have a profit in the process.

franky1

legendary

Activity: 4410

Merit: 4788

Quote from: isoneguy on January 11, 2017, 11:19:17 AM

Quote from: aso118 on January 11, 2017, 11:11:46 AM

Quote from: Slim2017 on January 11, 2017, 10:23:56 AM

News from China is once again spreading through the bitcoin world like wildfire. It appears China’s central bank the People’s Bank of China (PBOC) is visiting with the top three Chinese exchanges and assessing the company’s operations. Per usual the price of bitcoin took a dive during the early hours of January 11 dropping another 15 percent to a low of US$790.

https://news.bitcoin.com/chinese-bitcoin-exchange-inspections-cause-price-drop-and-fud/

Well, we didn't complain when the price went up due to speculation and rumours. Now we are just seeing the other side of the coin. Atleast, this time it is based on a kernel of truth.

This low is merely the other side of your multiplying chance.

Quote from: franky1 on January 11, 2017, 08:40:28 AM

tip: this is temporary speculation drama. do not consider it a panic moment to cry about losses, consider it a discount day to increase holdings cheaply

isoneguy

hero member

Activity: 518

Merit: 501

Quote from: aso118 on January 11, 2017, 11:11:46 AM

Quote from: Slim2017 on January 11, 2017, 10:23:56 AM

News from China is once again spreading through the bitcoin world like wildfire. It appears China’s central bank the People’s Bank of China (PBOC) is visiting with the top three Chinese exchanges and assessing the company’s operations. Per usual the price of bitcoin took a dive during the early hours of January 11 dropping another 15 percent to a low of US$790.

https://news.bitcoin.com/chinese-bitcoin-exchange-inspections-cause-price-drop-and-fud/

Well, we didn't complain when the price went up due to speculation and rumours. Now we are just seeing the other side of the coin. Atleast, this time it is based on a kernel of truth.

This low is merely the other side of your multiplying chance.

aso118

legendary

Activity: 1918

Merit: 1012

★Nitrogensports.eu★

Quote from: Slim2017 on January 11, 2017, 10:23:56 AM

News from China is once again spreading through the bitcoin world like wildfire. It appears China’s central bank the People’s Bank of China (PBOC) is visiting with the top three Chinese exchanges and assessing the company’s operations. Per usual the price of bitcoin took a dive during the early hours of January 11 dropping another 15 percent to a low of US$790.

https://news.bitcoin.com/chinese-bitcoin-exchange-inspections-cause-price-drop-and-fud/

Well, we didn't complain when the price went up due to speculation and rumours. Now we are just seeing the other side of the coin. Atleast, this time it is based on a kernel of truth.

chesatochi

sr. member

Activity: 812

Merit: 252

I read this news lately this morning, we see a correlation with the bitcoin price today. The essence of the message is the FUD will investigate 3 bitcoin exchange in China. It's unbelievable that the market react so strongly and the price decrease for a story of this kind.

We can use this story and do some fundamental analysis Wink

franky1

legendary

Activity: 4410

Merit: 4788

to explain the FUD

Quote from: franky1 on January 11, 2017, 08:40:28 AM

"chinese" exchanges have been in constant communication with PBOC for years.

this [FUD] is exaggerating a 'routine' inspection by regulators* into something sounding more like a raid.
it is not a raid. its just a routine inspection

seems like [speculators] wants to cause drama to cause some speculation and another discount day to buy in cheap.
and when people wise up to the truth and price then recovers, the [speculators] can sell for profit.

*(yep many finance firms in fiat, asset and commodities get these as something treated as normal processes)

Quote

The operation is focused on checking whether the company is operating beyond its scope

BTCC for example has a regulatory agreement of what its business will do (scope of business).
the regulators are just doing a routine inspection to check

drama over

tip: this is temporary speculation drama. do not consider it a panic moment to cry about losses, consider it a discount day to increase holdings cheaply

BitcoinHodler

hero member

Activity: 1456

Merit: 579

HODLing is an art, not just a word...

these days traders are so fragile and FUDsters are using this to their advantage. someone in China sneezes and they start spreading FUD that bitcoin is dead Cheesy

i just want this period passes because i am really sick and tired of opening bitcointalk, reddit,... and see another topic about price and China.

Slim2017

newbie

Activity: 19

Merit: 0

News from China is once again spreading through the bitcoin world like wildfire. It appears China’s central bank the People’s Bank of China (PBOC) is visiting with the top three Chinese exchanges and assessing the company’s operations. Per usual the price of bitcoin took a dive during the early hours of January 11 dropping another 15 percent to a low of US$790.

https://news.bitcoin.com/chinese-bitcoin-exchange-inspections-cause-price-drop-and-fud/

Topic: Chinese Bitcoin Exchange Inspections Cause Price Drop and FUD - page 2. (Read 1655 times)