Topic: The one has sold their coins yesterday, you would better buy them back - page 2. (Read 8699 times)

I agree with this.
Banks shutting down exchange accounts is the biggest deal right now IMO.

Just when I thought Coinlab was going to rectify the situation everything goes to shit.

I think China is a great environment for Bitcoin but I wouldn't get overly zealous just because it was in the news.

Huh? People can buy less than 1 BTC of course, so what's the problem? If a poor farmer has only X amount (like 70 yuan) to invest, if BTC rises 100x he still multiplies his investable money by 100. If 700 yuan is outright unattainable for him, he'd probably be very happy to have 7,000 yuan.

Bitcoin is the only investment I've ever seen where it's possible to invest time amounts.

Because they aren't, IMHO. They just don't give a shit either way (at least not yet), so reporters are free to report on it. And if it distracts people from the huge impending economic collapse in China then all the better in their eyes.

Cool. So now we're trading off news of news? It's like the community keeps moving further and further away from trading the fundamentals.

There was a half hour report on Radio 4 in the UK a few weeks ago... http://www.bbc.co.uk/programmes/b01s0qnk

It's easy to discern from looking at events. The CCP runs nothing like a normal government in a normal country. Everything is centralized in an authoritarian structure with no checks or balances. What can and can't be broadcast as news via the CCP's media network is strictly controlled. There is a Propaganda Ministry for a reason, and a member of the CCP's Politburo Standing Committee governs the Propaganda Ministry for a reason. Bitcoin is a technology that provides a certain level of anonymity and freedom on an economic level, which contradicts the CCP's overall modus. Specifically, it makes it very easy for CCP members who are embezzling money out of China to do so with relatively little opposition. It goes against the CCP's survival. So, in my opinion, if the CCP's Propaganda Ministry broadcasts a piece like this it is because it benefits the personal interests of high ranking CCP members.

Furthermore, the common Chinese citizen can in absolutely no way afford to dabble in BTC. They are impoverished and destitute. 700 Yuan for 1 BTC is outright unattainable if you aren't upper-middle class and above. Even less is it safe for them to do so when the entire country's Internet is strictly controlled by the CCP's massive surveillance network. Assuming that the common Chinese citizen can get involved with BTC is even more naive than believing the people in western slums are going to get involved with BTC.

So, who can afford to dabble in BTC? China's wealthy. Who are China's wealthy? CCP members and those closely affiliated with them: http://www.forbes.com/2011/09/14/china-rich-lists-opinions-contributors-john-lee.html

If you think that's not true, keep in mind it is very, very difficult to exist as a business or a wealthy person in China without the blessing of the local CCP bosses. Bo Xilai's various campaigns in "countering corruption" were all fronts to eliminate his enemies and competitors in business. People routinely get charged on false charges and get sent off to labour camps to endure years of torture, rape, and murder because of this type of factor.

There's just no reason for CCTV to air this article unless someone has a vested interest in a pump. Every single one of you who thinks that CCTV runs as a normal journalistic outlet does in the West, or even one as degenerate as Fox, simply does not understand the Party. It is no different from giving credit to North Korea's media when it shoots its mouth off.

Yes my parents taught me forum etiquette lol 

They are not like our biggest investor eva reptelian, the wedding Rolls-Royce driver

Didn't your parents teach you any manners?

God damn you people are stupid.

BTC is already quite popular in China, but not the way you might think. The Chinese are into trading it and it comes form the large gambling culture there. Buy it low sell it high that's what it is about.
They are no "investors", they are in for the extra yuan, if anything they gonna siphon money off you guys.

ooohhh i got ya. I think you aren't using quite the correct word when you say money laundering. Laundering implies that you are trying to figure out how to spend your money with out going to prison, you seem to be describing people who are looking for a way to save their money with out going to prison.

Looks like new money has come in from somewhere in the last hour.

Yes, I mean the ones not within the central political party but still are powerful enough to influence the media, the politics in China is very complicated, you can't really tell which official is clean, which is corrupted, but a general consensus is 99% of them are corrupted and we only care how much they take in corruption, small amount of corruption is often neglected because there are always bigger sharks to tackle. All I can tell is that anti-corruption is a top priority goal set by the latest Chairman Xi Jinping, so I won't be surprised to see some officials seeking ways to hide their money to avoid punishment. Given the anonymity offered by Bitcoin, it is certainly an excellent tool for them to achieve this goal, and to make it an efficient one, it is better to convince the general public to use it too.

this market is WAY to small for someone like that to use it for laundering as it stands now. You really think they have the foresight to pump up the market just so that it can become capitalized enough to allow them to use it for laundering?

Also how would they do this without the leaders of the CCP catching wind of it? i mean hell you and i are talking about it right now and we are just some random schmoes.

They need an outlet for their corrupted money, the newest Chairman of CCP has made a strong stance against corruption apparently, some of the corrupted officials are already being punished, either imprisoned or dismissed, so they need a quick way to launder their money.

maybe the chinese mafia/government is the one who has been ddosing mtgox inorder to hoover up cheap coins which they can now use to pump and dump.

it seems like a bit of a small market for such big fish but its hard for me to understand any other reason why the chinese government would now be reporting on bitcoin so favorably during prime time on one of their biggest channels.

if this is the case than welcome to wealth fellas. Just make sure you dump before they do.

No, actually it's pretty bad these days. Last night I traded there with >10minutes lag

So very true. People usually tend to better recognize it in the home of their neighbours than in their own homes though.