Does anyone have any figures on how many BTC are mined in China?
Organofcorti might be able to figure this out.
Topic: Temporary bounce to $600? But we're still going doowwwwwwwwnnnnnnnnnnn (Read 3534 times)
December 19, 2013, 01:45:02 AM
Organofcorti might be able to figure this out.
December 19, 2013, 12:23:15 AM
It'll be a bumpy ride down, until the next panic sell... bookmark my words... It'll happen!
December 19, 2013, 12:21:04 AM
Ahhh well I guess we'll see how much of an impact the Chinese have... But I'm staying out for now
In my opinion they're a fucking time bomb...
The government's pretty much stamped out bitcoin innovation in China for the time being.
The Chinese are not delusional they want RMB they can spend not BTC..
Does anyone have any figures on how many BTC are mined in China?
Doubtful it's that much, but that would be the real interesting stat. You can expect most of it will be sold before Jan 30... With no money coming in, the price is going to go through the floor... It has to!
In my opinion they're a fucking time bomb...
The government's pretty much stamped out bitcoin innovation in China for the time being.
The Chinese are not delusional they want RMB they can spend not BTC..
Does anyone have any figures on how many BTC are mined in China?
Doubtful it's that much, but that would be the real interesting stat. You can expect most of it will be sold before Jan 30... With no money coming in, the price is going to go through the floor... It has to!
December 18, 2013, 11:07:28 PM
ALL IN 
December 18, 2013, 10:48:31 PM
That's the order book , it is not equal to the amount of money on that exchange.
Theoretically , they could still have more money right now than ever , if no one withdrew and since they sold all those bitcoins
.
Although i doubt that anyone will still keep their money on an exchanger following the news.
Theoretically , they could still have more money right now than ever , if no one withdrew and since they sold all those bitcoins
.Although i doubt that anyone will still keep their money on an exchanger following the news.
I don't work there so it's not like I can check the database. I'm just assuming this because it fits nicely in the time line.
December 18, 2013, 10:45:34 PM
[...]
It's a good theory until you realize that they had tons of RMB on the actual exchange UNTIL the banking ban.
[...]
It's a good theory until you realize that they had tons of RMB on the actual exchange UNTIL the banking ban.
[...]
What's your source?
Chinese can play for another month as far as I understood.
That's the order book , it is not equal to the amount of money on that exchange.
Theoretically , they could still have more money right now than ever , if no one withdrew and since they sold all those bitcoins
.Although i doubt that anyone will still keep their money on an exchanger following the news.
December 18, 2013, 10:41:26 PM
[...]
It's a good theory until you realize that they had tons of RMB on the actual exchange UNTIL the banking ban.
[...]
It's a good theory until you realize that they had tons of RMB on the actual exchange UNTIL the banking ban.
[...]
What's your source?
Chinese can play for another month as far as I understood.
December 18, 2013, 10:35:39 PM
[...]
44% of Bitcoin trade was on BTC China. This of course isn't 44% of all BTC in existence, but it is certainly almost half of the trade responsible for pushing the price up to over $1200.
[...]
44% of Bitcoin trade was on BTC China. This of course isn't 44% of all BTC in existence, but it is certainly almost half of the trade responsible for pushing the price up to over $1200.
[...]
Trade, NOT ownership, you made the point yourself.
I trade with btc-e, does it mean my coins are now on russian/
[...]
It's a good theory until you realize that they had tons of RMB on the actual exchange UNTIL the banking ban.
[...]
It's a good theory until you realize that they had tons of RMB on the actual exchange UNTIL the banking ban.
[...]
What's your source?
Chinese can play for another month as far as I understood.
December 18, 2013, 10:33:38 PM
44% of trade volumes means nothing.
BTChina had 0 fees , meaning that it encouraged bots and fast trades.
With 0 fees , 10 btc and a bot I alone can surpass Mtgox trading volume.
Yes, and using a bot, 1000 BTC or whatever, and 0% trading fees, you could probably bid the price of Bitcoin up 2 da fkn moon, which possibly explains what was happening?
Trade volume =/= Amount of coins in that exchange.
I've been saying this since November , the numbers on BTChina seemed fake to me , especially since they had only 6000 coins on the whole order book when the madness started.
By comparison Mtgox had 8 times that.
December 18, 2013, 10:26:52 PM
44% of trade volumes means nothing.
BTChina had 0 fees , meaning that it encouraged bots and fast trades.
With 0 fees , 10 btc and a bot I alone can surpass Mtgox trading volume.
Yes, and using a bot, 1000 BTC or whatever, and 0% trading fees, you could probably bid the price of Bitcoin up 2 da fkn moon, which possibly explains what was happening?
It's a good theory until you realize that they had tons of RMB on the actual exchange UNTIL the banking ban.
December 18, 2013, 10:10:41 PM
44% of trade volumes means nothing.
BTChina had 0 fees , meaning that it encouraged bots and fast trades.
With 0 fees , 10 btc and a bot I alone can surpass Mtgox trading volume.
Yes, and using a bot, 1000 BTC or whatever, and 0% trading fees, you could probably bid the price of Bitcoin up 2 da fkn moon, which possibly explains what was happening?
December 18, 2013, 09:59:38 PM
Where did you get 44% from? Was it from FUD article? You cannot really say that 44% is on Chinese hands, what a pile of shite.
Chinese can keep all their coins and use localbitcoins or buy services with them.
And the Chinese Govt was pretty lame, they will come back in a few days/months/years with regulations and there will be a second chinese bubble, wait for it
Okay smart guy
44% of Bitcoin trade was on BTC China. This of course isn't 44% of all BTC in existence, but it is certainly almost half of the trade responsible for pushing the price up to over $1200.
Now, what might happens when this market places fully dissolves...hmm let me see? Ah, I got it! Now that all the weak hands have been shaken out the trade, Bitcoin 2 da Moon!
A 2nd Chinese bubble, one part of me is thinking, "i will certainly keep my ears tot he ground for any news of a relegitimisation of Bitcoin in China"; the other part of me is thinking, "yet more überwishful thinking from someone sitting crying into his empty beer glass?"
44% of trade volumes means nothing.
BTChina had 0 fees , meaning that it encouraged bots and fast trades.
With 0 fees , 10 btc and a bot I alone can surpass Mtgox trading volume.
December 18, 2013, 09:48:31 PM
You must to know that this is a gambling.
Yup, sure do. Thats why, I only have play money in BTC.
When I want to invest, I contribute to my IRA, stock portfolio, cap plan, 401k, or precious metals (only a small fraction). BTC really doesnt have a place in my investment portfolio (for a variety of reasons), but it makes a great speculative tool.
I do not know better.
December 18, 2013, 09:41:25 PM
You must to know that this is a gambling.
Yup, sure do. Thats why, I only have play money in BTC.
When I want to invest, I contribute to my IRA, stock portfolio, cap plan, 401k, or buy precious metals (a very small fraction of my portfolio). BTC really doesnt have a place in my investment portfolio (for a variety of reasons), but it makes a great speculative tool.
December 18, 2013, 09:39:45 PM
Where did you get 44% from? Was it from FUD article? You cannot really say that 44% is on Chinese hands, what a pile of shite.
Chinese can keep all their coins and use localbitcoins or buy services with them.
And the Chinese Govt was pretty lame, they will come back in a few days/months/years with regulations and there will be a second chinese bubble, wait for it
Okay smart guy
44% of Bitcoin trade was on BTC China. This of course isn't 44% of all BTC in existence, but it is certainly almost half of the trade responsible for pushing the price up to over $1200.
Now, what might happens when this market places fully dissolves...hmm let me see? Ah, I got it! Now that all the weak hands have been shaken out the trade, Bitcoin 2 da Moon!
A 2nd Chinese bubble, one part of me is thinking, "i will certainly keep my ears tot he ground for any news of a relegitimisation of Bitcoin in China"; the other part of me is thinking, "yet more überwishful thinking from someone sitting crying into his empty beer glass?"
December 18, 2013, 09:35:18 PM
a) SELL ALL YOUR COINS for a massive profit
b) laugh at bulls still holding
c) buy back in after the crash
d) repeat process
FTFY.
You must to know that this is a gambling. You may win or you will lose in zero-sum-game. NEVER SELL ALL YOUR COINS :-) (not even half if you want survive)
December 18, 2013, 09:19:40 PM
a) SELL ALL YOUR COINS for a massive profit
b) laugh at bulls still holding
c) buy back in after the crash
d) repeat process
FTFY.
December 18, 2013, 09:18:18 PM
I'm very confident that $400 was the bottom. As you say, historically post crash we seem to trend down towards 2x the pre-crash price.
These are great times to trade. It's low enough that I'm confident that it will recover to a ATH within 8-12 months, which means at least 100% gain in my holdings and it's moving quite a bit that I can try and snipe some additional day trading profit.
If it goes to $200 well I have enough FIAT to snap up a decent chunk of coins but it's simply not happening. $300 is even way too cheap right now.
These are great times to trade. It's low enough that I'm confident that it will recover to a ATH within 8-12 months, which means at least 100% gain in my holdings and it's moving quite a bit that I can try and snipe some additional day trading profit.
If it goes to $200 well I have enough FIAT to snap up a decent chunk of coins but it's simply not happening. $300 is even way too cheap right now.
What don't you understand about 44% of the Bitcoin market being forced to liquidate their positions by their government?
FUD. Chinese can keep their Bitcoins, they aren't forcing them to sell them.
Where did you get 44% from? Was it from FUD article? You cannot really say that 44% is on Chinese hands, what a pile of shite.
Chinese can keep all their coins and use localbitcoins or buy services with them.
And the Chinese Govt was pretty lame, they will come back in a few days/months/years with regulations and there will be a second chinese bubble, wait for it
December 18, 2013, 09:10:07 PM
One further thing... Look at BTC China now.. There's a 6.74 million CNY wall at 2640 the equivalent of $434 US.
That is only the start. It won't be long before that and more pushes down the market.
That is only the start. It won't be long before that and more pushes down the market.
a) panic SELL ALL YOUR COINS
b) opportunity to buy MORE
... c) write FUD
December 18, 2013, 09:04:08 PM
One further thing... Look at BTC China now.. There's a 6.74 million CNY wall at 2640 the equivalent of $434 US.
That is only the start. It won't be long before that and more pushes down the market.
That is only the start. It won't be long before that and more pushes down the market.
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