Topic: If chinese bulls can cause this madness, what can chinese bears do? (Read 4668 times)

Don't know about chinese bulls but chinese bears would surely bring the value down below $250 in next quarter, I speculate that.

fortune cookies, though accompanied with Chinese food, are not tradition in China.

stop spreading FUD.  

seems i found the reason why there are no bears in china:

LOL, pathetic bearish trolls patting each other's back to get a bit of comfort.

The Chinese Gov may crackdown on Bitcoin purchase, but look at how well did that work out with the VPN fire-wall trespassing industry, which they have been waging a war against for years? The Taobao merchants could simply change the names of the virtual goods for sale to whatever that can elude the authorities, as long as you can't shutdown Taobao(which is impossible because it's solely responsible for the creation of tens of millions of jobs), I predict we will see an army of Bitcoin selling agents willing to take over the job of exchanges in China.

They can put on monetary control has well, but they have also cracked down on "illegal fund-raising" for years, even meting out death penalties sometimes, but the usury business is as prosperous as well,  investors in China are just desperate for investment options, not to say practically anyone with power in this nation can be bribed.

The commies may eventually be successful in shutting down mining operations or blocking their connection with the network at large, it will have hardly any influence on how Chinese purchase Bitcoins. And it's entirely workable to just outsource the mining work to the legions of Chinese living overseas.

I remember reading in a mag years ago that in the west people make business plans for a year or two ahead while the chinese plan decades ahead.

The question is are the chinese the ones buying up most of the coins?

Bitcoins have become even more interesting, who would have predicted a $350+ price in Nov. after the price slump in the summer? Crazy.

4 am here too. This market has no respect for people's sleep hours! 

4 am, yay

If only it wasn't 1am here, I would stay and watch the show all night haha

china bears just got their morning tea, checked QQ and now begin with trading

enjoy the show 

btcchina conveniently doesn't require much identifying data from its traders. 

The rise of BTCchina corresponds with the overall rise of bitcoin. We aren't seeing a diminishing volume of the other exchanges.  We are seeing Gox lose it's monopoly (thank God), but other exchanges like Bitstamp have taken up that loss in volume at Gox.

I don't see how you can extrapolate that all this money driving BTCchina price is based on American criminals.

I believe we are indeed seeing a market driven by the Chinese themselves.

The ultimate answer though to your question would be a meta analysis of the BTCchina client database.  An interesting meta analysis it would be.

I will be proven correct, eventually.

Also, I preemptively accept your apology.

lol you are so full so shit.

Common sense. And:

-Correlation with diminishing volume on FINCEN reg'd exchanges and increasing volume on non-reg'd

-no trader fees on btcchina

-btcchina encourages trading with oneself through awarding shares to high vol traders

-btc ripe for manipulation due to fiat stuck on exchanges

Where are you getting your data?  And how do you come to this conclusion?

Not relevant because nobody in china is actually buying bitcoin. As I've explained previously, the volume on btcchina is primarily criminal traders (mostly americans) who have fled FINCEN regulated exchanges.

Even easier is blocking access to the exchanges websites.

Probably easier to simply tightly control the echanges and put monetary controls there just like they do fiat exchanges.  So hopefully the operator of BTC China sees that one coming because even if China remains neutral on Bitcoin they likely are going to want control/insight into currency flows into Bitcoin.

China has for a very long time made pro Bitcoin statements....

....likely because they see it as a queen on the chess board, finally undermining the dollar.

The Chinese don't play the short-ball.  They are thinking long-ball.  And have had it in their mind to get off the dollar dependance one way or another.  This is part of a long-term move for them.

I don't see China blocking Bitcoin anytime soon.

I spent time in China.  China blocks the internet, but every Chinese person has VPNs setup to subvert it (even though their is a stiff penalty if they get caught.)  And that's just with a motive to get information.  Imagine a financial motive.

...Even if they tried to block Bitcoin they couldn't.