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Topic: So, nobody really gives a crap? - page 2. (Read 5548 times)

sr. member
Activity: 378
Merit: 255
January 10, 2014, 05:00:40 PM
#72
Yeah. Thanks for your replies so far. I guess you all got a point there, but not enough to convince me at all.

Since I am expecting something profound, I guess I should be more clear about my concerns as well.

First of all, what is going to happen with all those coins that are being traded on Chinese exchanges? Will they just vanish? Or exported? Or drop to 0 without influencing the other exchanges? Why would any Chinese who is not interested in illegally exporting money (CNY) to other countries hold any BTC in the near future in the first place? Are there any exchanges that are going to provide Chinese investors with an overseas trading platform?

Those are some of the questions I ask myself while trying to figure this whole madness out.



That's the limit by when they can transfer the coins to the central bank.  After Feb 1, they can still transfer them to a gift card and sell that on an auction site or to another individual.  And Huobi still offers 2-way bank wires.
member
Activity: 97
Merit: 10
January 10, 2014, 04:02:36 PM
#71
No. Wrong. China had nothing to do with the price going past 1000usd. If anything I would blame it on the bust and shut down of Silk Road

It seems like you don't understand how a market works. It's supply and demand influencing the price. And in those days of the huge rise it was China buying about 10 times (edit: or at least 5 times Wink) as many Coins as the rest of the world. The Silk Road bust only gave Bitcoin some sort of credibility as well as publicity.


And also, the Chinese haven't made any difference to bitcoin. It would be the same with or without them.
You can even tell from the BTC-e trollbox. China is always mentioned first when the market is moving at the moment.

another reason to not listen to the OP.



 Grin I was just waiting for that. I am not saying that I take the trollbox entirely serious, but it doesn't change the fact that China is moving first.
member
Activity: 112
Merit: 10
January 10, 2014, 03:42:26 PM
#70
And also, the Chinese haven't made any difference to bitcoin. It would be the same with or without them.
You can even tell from the BTC-e trollbox. China is always mentioned first when the market is moving at the moment.

another reason to not listen to the OP.
hero member
Activity: 490
Merit: 500
January 10, 2014, 03:41:22 PM
#69
China is not out permanently, they're just out for now... as this technology sees wider spread adoption (i.e. Overstock.com now accepting, Virgin Galactic accepting - imho, field trial for the rest of the Virgin group companies, etc.) with larger and more entities, they'll want to be back in and don't be surprised that suddenly a wave of bitcoin millionaires show up in China on that day including government officials.

Their motive is currency protection which they can't easily see as manageable in the Bitcoin ecosystem but if they fall out of favor because they are not on the bandwagon then the corrective action is jump on.  Fiat currencies won't be dieing out anytime soon but cryptocurrency is poised to be the global mediator of currencies and as that becomes apparent currencies which do not allow easy ways in and out of it will have their growth hampered (IMHO)
member
Activity: 98
Merit: 10
January 10, 2014, 03:31:31 PM
#68
And also, the Chinese haven't made any difference to bitcoin. It would be the same with or without them.

That is definitely wrong. In fact, it was China pushing BTC beyond 1000USD. It was them buying Coins like mad men! And it will be them causing a huge crash. All the other exchanges are reacting to what is going on in China right now. Not the other way round. You can even tell from the BTC-e trollbox. China is always mentioned first when the market is moving at the moment.

No. Wrong. China had nothing to do with the price going past 1000usd. If anything I would blame it on the bust and shut down of Silk Road
member
Activity: 97
Merit: 10
January 10, 2014, 03:05:11 PM
#67
And also, the Chinese haven't made any difference to bitcoin. It would be the same with or without them.

That is definitely wrong. In fact, it was China pushing BTC beyond 1000USD. It was them buying Coins like mad men! And it will be them causing a huge crash. All the other exchanges are reacting to what is going on in China right now. Not the other way round. You can even tell from the BTC-e trollbox. China is always mentioned first when the market is moving at the moment.
member
Activity: 86
Merit: 10
January 10, 2014, 02:59:13 PM
#66
Just look at overstock.com launch today. They are taking huge numbers of bitcoins. Once that news spreads, other big players will join the party.


Yeah. I thought so, too. I even bought some BTC again last night. But WTF? Where is the God damn upswing? That it didn't happen clearly indicates, that the whole market is VERY nervous. Seems like everybody is waiting for the next bad news or at least until the China thing is over.

Very interesting times ahead. I am sure about that by now.

Good luck.
Be patient.
An upswing is imminent.
member
Activity: 97
Merit: 10
January 10, 2014, 02:58:21 PM
#65
Not really: http://bitcoinwisdom.com/markets/btcchina/btccny. It just disappeared as a link from the main page, replaced by Huobi.

Hm. That is weird. When I checked earlier it wasn't even listed under markets anymore. Well it seems like they are about to go down in any case.

TICK TACK...
member
Activity: 98
Merit: 10
January 10, 2014, 02:38:58 PM
#64
The Chinese are known throughout their history for doing things underground despite of government regulations.

What I mean by this is take for example their many secret societies that have co-existed with their authoritarian government throughout their history.

What one should take from this history lesson is these people are resilient and persistent on what they do. Think one-child policy.

If they got into bitcoins and made this much of a difference I highly doubt they would just quit cold-turkey just because their government says so. They will just start hiding more from the government and go "underground" with their operations.

This is the reason why BTC China will never die out because all the major players will just do things 'off the books'

The Chinese don't have the first damn clue what they want.

And also, the Chinese haven't made any difference to bitcoin. It would be the same with or without them.
full member
Activity: 154
Merit: 100
January 10, 2014, 02:30:31 PM
#63
By the way, BTCChina is dead, isn't it? It just disappeared from bitcoinwisdom.
Not really: http://bitcoinwisdom.com/markets/btcchina/btccny. It just disappeared as a link from the main page, replaced by Huobi.
newbie
Activity: 22
Merit: 0
January 10, 2014, 02:29:22 PM
#62
The Chinese are known throughout their history for doing things underground despite of government regulations.

What I mean by this is take for example their many secret societies that have co-existed with their authoritarian government throughout their history.

What one should take from this history lesson is these people are resilient and persistent on what they do. Think one-child policy.

If they got into bitcoins and made this much of a difference I highly doubt they would just quit cold-turkey just because their government says so. They will just start hiding more from the government and go "underground" with their operations.

This is the reason why BTC China will never die out because all the major players will just do things 'off the books'
member
Activity: 97
Merit: 10
January 10, 2014, 02:06:28 PM
#61
Just look at overstock.com launch today. They are taking huge numbers of bitcoins. Once that news spreads, other big players will join the party.


Yeah. I thought so, too. I even bought some BTC again last night. But WTF? Where is the God damn upswing? That it didn't happen clearly indicates, that the whole market is VERY nervous. Seems like everybody is waiting for the next bad news or at least until the China thing is over.

Very interesting times ahead. I am sure about that by now.

Good luck.
member
Activity: 97
Merit: 10
January 10, 2014, 01:59:57 PM
#60
OP claims to be bigshot in the crypto scene.
creates account yesterday
follows by saying bitcoin will die in 2014 based on......?
 Roll Eyes


Say whooot? Cheesy

I didn't claim shit. Especially not to be some bigshot in whatever scene. Nor did I say that Bitcoin will die in 2014.  

Grin  Funny though. Made my day...

By the way, BTCChina is dead, isn't it? It just disappeared from bitcoinwisdom. PUUUFFFF... And it was gone. LOL

Cheers
hero member
Activity: 527
Merit: 500
January 10, 2014, 09:53:05 AM
#59
Wages may go down, but purchasing power increase. Business profits may be reduced in nominal terms, but actually be growing.
hero member
Activity: 518
Merit: 500
January 10, 2014, 04:09:11 AM
#58
Why would China have any effect on btc price anyways? The market cap for btc as is right now is only around $10billion USD, that's pretty damn small if we are considering parties from all over the world.

People around the world probably spend 100x that everyday just buying toilet paper lol

That's because you have some perspective on this. Lots of bitcoin investors can't see beyond their own fear and greed unfortunately.

Bitcoin doesn't need China. It will flourish plenty well without it. Just look at overstock.com launch today. They are taking huge numbers of bitcoins. Once that news spreads, other big players will join the party.
member
Activity: 112
Merit: 10
January 10, 2014, 01:20:38 AM
#57
OP claims to be bigshot in the crypto scene.
creates account yesterday
follows by saying bitcoin will die in 2014 based on......?
 Roll Eyes
member
Activity: 98
Merit: 10
January 10, 2014, 01:19:05 AM
#56
Why would China have any effect on btc price anyways? The market cap for btc as is right now is only around $10billion USD, that's pretty damn small if we are considering parties from all over the world.

People around the world probably spend 100x that everyday just buying toilet paper
sr. member
Activity: 434
Merit: 250
January 09, 2014, 11:13:18 PM
#55
One perhaps slightly sensational idea might be that the Chinese government are themselves investing in bitcoin and levering their position to manipulate the value for gains. If you were an entity with the ability to knock 50% off the value of a commodity, then on a whim double the value back up again (ie, you're the Chinese government with the world watching you to decide on speculations), this is what you'd do.

This is why when some above have said "the government aren't that stupid, these remaining exchanges have their days numbered", maybe they have allowed them to continue trading because they don't want to destroy bitcoin, rather play with its price for gains/further understanding of the market and the demographics of its users.

+1

Like I have said time and time again on these forums...where does everyone think the people in need of better money laundering services show up for work every day?

In banking sectors and government buildings around the world that's where...Bitcoin is the best thing that's happened to these guys.

Why would they want to get rid of it?
hero member
Activity: 518
Merit: 500
January 09, 2014, 10:27:37 PM
#54
One perhaps slightly sensational idea might be that the Chinese government are themselves investing in bitcoin and levering their position to manipulate the value for gains. If you were an entity with the ability to knock 50% off the value of a commodity, then on a whim double the value back up again (ie, you're the Chinese government with the world watching you to decide on speculations), this is what you'd do.


I also think that this is pretty absurd.

Besides, is BTCChina already dead? I never have seen such ridiculously low orders.

Absurd...really? China is buying all btc...

BTCChina is #1

Really? Don't see the price going up much Wink
newbie
Activity: 42
Merit: 0
January 09, 2014, 05:04:13 PM
#53
In countries where transfer between bank and exchange are forbidden, Bitcoin value is 15 to 30 % higher (Brazil, Argentina,...).

It's not forbidden in Brazil, I don't think in Argentina it is too.
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