Topic: If chinese bulls can cause this madness, what can chinese bears do? - page 2. (Read 4703 times)
November 09, 2013, 02:48:57 PM
How can the great firewall of china stop Bitcoin transfers? You still know your private key, so if you wanted couldn't you always sign raw transactions and use some sort of a out-of-china server to "push" the transaction onto the network?
November 09, 2013, 02:46:40 PM
Don't understimate the utility value to the Chinese of Bitcoin as a method to convert CNY to USD and move it out of the country. ...
Of course if this does get to large the Chinese government may choose to do something highly negative about it - but in the meantime enjoy the scramble.
That's it, exactly. This Bitcoin run-up looks like a rush to do just that before the People's Bank of China stops it.Of course if this does get to large the Chinese government may choose to do something highly negative about it - but in the meantime enjoy the scramble.
A caution for users in China: if, at some point, the PRC decides that Bitcoin transfers in and out of China are undesirable, the Bitcoin protocol could be blocked by the Great Firewall of China.
Don't think so. Chinese government is pretty satisfied to see their people stocking up with bitcoin, which shatters confidence in US dollar.
November 09, 2013, 02:33:33 PM
Don't understimate the utility value to the Chinese of Bitcoin as a method to convert CNY to USD and move it out of the country. ...
Of course if this does get to large the Chinese government may choose to do something highly negative about it - but in the meantime enjoy the scramble.
That's it, exactly. This Bitcoin run-up looks like a rush to do just that before the People's Bank of China stops it.Of course if this does get to large the Chinese government may choose to do something highly negative about it - but in the meantime enjoy the scramble.
A caution for users in China: if, at some point, the PRC decides that Bitcoin transfers in and out of China are undesirable, the Bitcoin protocol could be blocked by the Great Firewall of China.
November 09, 2013, 11:09:53 AM
Don't understimate the utility value to the Chinese of Bitcoin as a method to convert CNY to USD and move it out of the country. Individuals are capped at USD 50,000 equivalent that can be converted in any year. Buying bitcoin with CNY, sending it to another exchange and selling to Euro, USD or whatever allows this quite effectively.
Other methods are very expensive and convoluted and involve doing deals with third parties who arrange for you to deposit money into a strangers bank account in China whilst having another stranger deposit money in your overseas account.
All in all using BTC is cheaper (although at 25% differential between Stamp and BTCChina that may not be true) involves far more time and has a much greater risk of your money simply vanishing.
Of course if this does get to large the Chinese government may choose to do something highly negative about it - but in the meantime enjoy the scramble.
Other methods are very expensive and convoluted and involve doing deals with third parties who arrange for you to deposit money into a strangers bank account in China whilst having another stranger deposit money in your overseas account.
All in all using BTC is cheaper (although at 25% differential between Stamp and BTCChina that may not be true) involves far more time and has a much greater risk of your money simply vanishing.
Of course if this does get to large the Chinese government may choose to do something highly negative about it - but in the meantime enjoy the scramble.
November 09, 2013, 10:38:17 AM
Noooo! they be stealin' my Bitcoins!
November 09, 2013, 10:16:59 AM
The last Chinese bear has just been trapped and gobbled by bulls 
November 09, 2013, 08:10:17 AM
I think OP was asking more for this:
November 09, 2013, 04:58:26 AM
IMO China (and other exchanges too, but better defined in China) is 'performing' the second of two sub-sub-waves that follow
a short term recovery from a crash. When Gox dropped from 233$ to 177$, the drops that followed the recovery went from 217$ to 177$,
and looked like a tumbling knife. It will be interesting to see if this scenario (kind of) repeats itself.
a short term recovery from a crash. When Gox dropped from 233$ to 177$, the drops that followed the recovery went from 217$ to 177$,
and looked like a tumbling knife. It will be interesting to see if this scenario (kind of) repeats itself.
November 09, 2013, 04:37:41 AM
Look at it this way: How many BTC have Chinese ASIC owners and producers now and how many will they have in a year?
November 09, 2013, 04:06:05 AM
At this point a Chinese bear would not own Bitcoin.
This question will become important in about 4 months.
This question will become important in about 4 months.
November 09, 2013, 01:51:05 AM
The crash in China is accelerating, back to 2100 right now.
So in about 12h it went up 25% then quickly down. Madness IMO.
So in about 12h it went up 25% then quickly down. Madness IMO.
November 09, 2013, 01:15:42 AM
The crazier the Chinese push up the price on their exchanges (Gox and Bitstamp struggle badly to follow),
the harder they are going to crash. I am afraid that the China government could become hostile towards
bitcoin if such an epic crash results in civil disorder or some other issues (mass suicides?).
the harder they are going to crash. I am afraid that the China government could become hostile towards
bitcoin if such an epic crash results in civil disorder or some other issues (mass suicides?).
November 09, 2013, 12:19:35 AM
China is bearish... on U.S. dollars. Be prepared.
November 08, 2013, 11:58:18 PM
In China the bubble bursts you.
You mean in soviet Russia?
I mean, its not like BTC-e hasn't been experiencing a bubble :\
November 08, 2013, 11:55:59 PM
speculate
This implies there are chinese bears..
Speculation in China is punishable to death
baahahahah, funny one. Been to China numerous times, done business with lots of Chinese people, and my wife is Chinese.
They're no better than anywhere else. Especially the younger generation. Evil just like us! lol
Hopefully that quest for riches and greed helps bitcoin though!
November 08, 2013, 11:46:03 PM
In China the bubble bursts you.
November 08, 2013, 11:45:01 PM
speculate
This implies there are chinese bears..
Speculation in China is punishable to death
November 08, 2013, 11:00:07 PM
speculate
This implies there are chinese bears..
Speculation in China is punishable to death
November 08, 2013, 10:56:21 PM
speculate
This implies there are chinese bears..
November 08, 2013, 10:49:03 PM
no bears in china. you should know that
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