Chinese bitcoin traders lost track of authentic price

cellard

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Activity: 1372

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It was about time that the bitcoin price got rid of the burden of china. Now the bitcoin price is no longer depending on the stupid ass OkCoin exchange, it is it's own entity now, as it should be. Bye bye China, we will not miss you.

Quote from: Soros Shorts on February 18, 2017, 08:33:45 AM

Quote from: hl5460 on February 14, 2017, 04:05:13 AM

Without an exchange that allows bitcoin withdrawal, the price has lost its value.

What do you expect? The market has been artificially dislocated by the Pork Bone of China ruling. The lower market value represents the price of coins that you cannot immediately use for a month.

So is Soros king of the Shorts going to short BTC if the ETF is not approved? that is the question.

Soros Shorts

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Quote from: hl5460 on February 14, 2017, 04:05:13 AM

Without an exchange that allows bitcoin withdrawal, the price has lost its value.

What do you expect? The market has been artificially dislocated by the Pork Bone of China ruling. The lower market value represents the price of coins that you cannot immediately use for a month.

Kevin77

legendary

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Quote from: hl5460 on February 14, 2017, 04:05:13 AM

Without an exchange that allows bitcoin withdrawal, the price has lost its value.

But bitcoin once again proved like it does not depend on only once country traders/investors. In a slow and strong volume it reached $1060 levels which is the victory of decentralization and we can be happy for still bitcoin market is being independent of one country's manipulations (which was an assumption with early rallies).

Interestingly, Chinese exchange prices are lagging compared to rest of exchange prices which means there were not enough trades are happening on Chinese exchanges.

Seansky

hero member

Activity: 560

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Even if the withdrawals are on hold for now for chinese, I am still glad that we are seeing a healthy rise now not a fake pump dump that was caused by Chinese themselves. I do pitty those Chinese who bought large quantity in bitcoin that are maybe trying to panis sell right now in china because of PBOC investigating exchanges. Well they would be back later and I hope that they would not attempt to crash the price when withdraws are enabled on Chinese exchanges.

hollandvan

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Quote from: manselr on February 14, 2017, 11:27:15 AM

Quote from: hl5460 on February 14, 2017, 04:05:13 AM

Without an exchange that allows bitcoin withdrawal, the price has lost its value.

Bitcoin is going to the moon in other exchanges, Bitfinex is right now hitting 1011 dollars. Meanwhile OkCoin is stuck at 981 dollars.

Conclusion: It's clear that now bitcoin has departed from china, china doesnt call the shoots anymore, we can hit an ATH whiteout china.

It is good chance to Chinese to buy more bitcoins, we know they are panic so they don't buy right now. But when bitcoin can be withdrew, the price will go up 100%.

Wind_FURY

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Quote from: gentlemand on February 15, 2017, 10:25:29 PM

At present they're just buying IOU's so it makes sense that they won't be inclined to pay what you do on functioning exchanges. CNY is a precious commodity on there because you can get it out.

Actually it is something like that. What then is stopping a Chinese exchange from bloating their reserves of Bitcoins in their ledgers? What is also the use of trading with them if I cannot withdraw and use Bitcoin if I want to? They have now become a platform to speculate on the price and not as an exchange that facilitates real trade.

gentlemand

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Welt Am Draht

At present they're just buying IOU's so it makes sense that they won't be inclined to pay what you do on functioning exchanges. CNY is a precious commodity on there because you can get it out.

sirohige

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if no people interest to buy bitcoin (because ) can't withdraw it, then the price will be crash again to level under $200
im not sure bitcoin fans from chinese will keep to hold his bitcoin, we know everyone need to pay his daily needs.

Wind_FURY

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Quote from: hl5460 on February 15, 2017, 01:09:13 AM

Quote from: Wind_FURY on February 14, 2017, 11:51:41 PM

I do not know what OP is talking about when he said that the "price has lost its value". For a Legendary member he is not too smart. Maybe he is trying to make us sell our Bitcoins because he thinks he can crash the market with one thread? Laughable.

One of the most amazing traits of Bitcoin is it always weasels its way to find efficiency. If it cannot be traded in the exchanges then there is Localbitcoins. If the Chinese government blocks Localbitcoins I believe there will be other ingenious ways developers can create to enable trading. Bitcoin's peer to peer nature is causing headaches and will cause more.

Sorry for the confusion. Actually, I mean the price of Chinese bitcoin exchanges has lost its authenticity.

http://news.8btc.com/chinese-bitcoin-traders-lost-track-of-authentic-price

Sorry for saying the negative comment. I meant no offense. It was only surprising for me that a Legendary member will think that way.

On the topic of Chinese exchanges and the lack of authenticity, what is new about it? We all already know the volume was fake, we also know that China is the source of most of the pumps and manipulation in Bitcoin. Nothing was truly authentic with the price of Bitcoin in China. I ask you, as a Legendary member, do you follow the prices of the Chinese exchanges or older, more authentic exchanges like Bitstamp or BTCe?

The fact that they are writing all about it just now is also laughable. We all know that is already the case.

Vaskiy

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Quote from: valta4065 on February 15, 2017, 08:39:54 AM

Quote from: hl5460 on February 14, 2017, 04:05:13 AM

Without an exchange that allows bitcoin withdrawal, the price has lost its value.

Wut?
Did all exchanges stopped btc withdrawal? Oo
Last time I checked all the exchanges I use are still doing it!

Not all exchanges have stopped the btc withdrawal. Few have stopped and among them HuaBTC which is a long served exchange provider. I think this stopping is jus to focus much on mining as they hold a mining pool.

valta4065

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Quote from: hl5460 on February 14, 2017, 04:05:13 AM

Without an exchange that allows bitcoin withdrawal, the price has lost its value.

Wut?
Did all exchanges stopped btc withdrawal? Oo
Last time I checked all the exchanges I use are still doing it!

HanSchultz

full member

Activity: 224

Merit: 100

Quote from: CyberKuro on February 15, 2017, 07:36:34 AM

Government regulations regarding exchanges become a phase which must be passed to improve the safety and comfort for the users.
We won't moving forward without any legitimacy from government, they had seen bitcoin exchanges as a huge money circulation and want taxes from them, prevent money laundering just an addition I guess.

That is what every government will be looking to extract the extra money out of you and i would not be surprised if every country comes out with a regulation and halt trading activities so that people have to favor free heavens like Bahamas exchange if there is one,so that anyone can trade without any regulations.

CyberKuro

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Government regulations regarding exchanges become a phase which must be passed to improve the safety and comfort for the users.
We won't moving forward without any legitimacy from government, they had seen bitcoin exchanges as a huge money circulation and want taxes from them, prevent money laundering just an addition I guess.

ArdiPrabowo

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i think if china regulation not supported to china exhanger
china people can move to international exchanger, not big effect about bitcoin price, but this early can shock down price, and panic selling can bitcoin price down, but can normal again

hl5460

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news.8btc.com

Quote from: Wind_FURY on February 14, 2017, 11:51:41 PM

I do not know what OP is talking about when he said that the "price has lost its value". For a Legendary member he is not too smart. Maybe he is trying to make us sell our Bitcoins because he thinks he can crash the market with one thread? Laughable.

One of the most amazing traits of Bitcoin is it always weasels its way to find efficiency. If it cannot be traded in the exchanges then there is Localbitcoins. If the Chinese government blocks Localbitcoins I believe there will be other ingenious ways developers can create to enable trading. Bitcoin's peer to peer nature is causing headaches and will cause more.

Sorry for the confusion. Actually, I mean the price of Chinese bitcoin exchanges has lost its authenticity.

http://news.8btc.com/chinese-bitcoin-traders-lost-track-of-authentic-price

Wind_FURY

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Quote from: richardsNY on February 14, 2017, 01:24:24 PM

Quote from: manselr on February 14, 2017, 11:27:15 AM

Quote from: hl5460 on February 14, 2017, 04:05:13 AM

Without an exchange that allows bitcoin withdrawal, the price has lost its value.

Bitcoin is going to the moon in other exchanges, Bitfinex is right now hitting 1011 dollars. Meanwhile OkCoin is stuck at 981 dollars.

Conclusion: It's clear that now bitcoin has departed from china, china doesnt call the shoots anymore, we can hit an ATH whiteout china.

It's too early to rule out China completely. I however find it quite remarkable that a Japanese exchange is now generating more volume than all other exchanges. It might be an indication that there is a shift going from China to Japan. If that's really the case, then I can only support such a development. Other thing is that Chinese people are now starting to use LocalBitcoins to avoid buying through exchanges. But that's not really beneficial for traders as they still need an exchange for their trading sessions.

I do not know what OP is talking about when he said that the "price has lost its value". For a Legendary member he is not too smart. Maybe he is trying to make us sell our Bitcoins because he thinks he can crash the market with one thread? Laughable.

One of the most amazing traits of Bitcoin is it always weasels its way to find efficiency. If it cannot be traded in the exchanges then there is Localbitcoins. If the Chinese government blocks Localbitcoins I believe there will be other ingenious ways developers can create to enable trading. Bitcoin's peer to peer nature is causing headaches and will cause more.

cengsuwuei

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Activity: 714

Merit: 516

#SWGT PRE-SALE IS LIVE

china trader still wait and see
because china exchanger still wait investigation from PBOC and can't withdraw still pending to next month, in march china exchanger withdraw can open agin, if investigation good result and not problem, if china exchanger withdraw open again bitcoin price can incraese and go to moon

Torque

legendary

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Bitcoin will drain toward the countries that value them the most, and drain away from the countries that value them the least.

It would be a shame for China to be shortsighted on this, and only care about mining bitcoin. Because one day that dominance will also drain away from them as well.

error08

hero member

Activity: 1036

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Quote from: hl5460 on February 14, 2017, 04:05:13 AM

Without an exchange that allows bitcoin withdrawal, the price has lost its value.

Is it true that the halt would last one month? And none of the exchanges allow withdrawals? while they being set up to prevent money laundering and other illegal activities. Trading activities were significant decreased since last week, but why it takes so long to fullfil PBoC injuctions.

Quote from: manselr on February 14, 2017, 11:27:15 AM

Bitcoin is going to the moon in other exchanges, Bitfinex is right now hitting 1011 dollars. Meanwhile OkCoin is stuck at 981 dollars.

Conclusion: It's clear that now bitcoin has departed from china, china doesnt call the shoots anymore, we can hit an ATH whiteout china.

No, it's already rise up to $1002 on OkCoin, seems they have found another way out.

richardsNY

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Quote from: manselr on February 14, 2017, 11:27:15 AM

Quote from: hl5460 on February 14, 2017, 04:05:13 AM

Without an exchange that allows bitcoin withdrawal, the price has lost its value.

Bitcoin is going to the moon in other exchanges, Bitfinex is right now hitting 1011 dollars. Meanwhile OkCoin is stuck at 981 dollars.

Conclusion: It's clear that now bitcoin has departed from china, china doesnt call the shoots anymore, we can hit an ATH whiteout china.

It's too early to rule out China completely. I however find it quite remarkable that a Japanese exchange is now generating more volume than all other exchanges. It might be an indication that there is a shift going from China to Japan. If that's really the case, then I can only support such a development. Other thing is that Chinese people are now starting to use LocalBitcoins to avoid buying through exchanges. But that's not really beneficial for traders as they still need an exchange for their trading sessions.

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