Topic: To all panic sellers: - page 2. (Read 4542 times)

I agree on this. I got my  coins at 100 USD and saw them grow to 1200 USD so I am a winner here.
People panic selling because they bought at 1000 USD each coin and dont know if they will loose it all
should not got the coins in the first place.

It is frustrating to me when I see comments like this one.  Yes, congratulations, you were an early adopter who made money.  However, if everyone since then loses money, Bitcoin is done, finished.

I agree on this. I got my  coins at 100 USD and saw them grow to 1200 USD so I am a winner here.
People panic selling because they bought at 1000 USD each coin and dont know if they will loose it all
should not got the coins in the first place.

It is frustrating to me when I see comments like this one.  Yes, congratulations, you were an early adopter who made money.  However, if everyone since then loses money, Bitcoin is done, finished.

This crash is due some whales who cashed out. No reason to panic.
Take a look at:
http://www.fiatleak.com
Its really going insane. There is 5x more buy orders then there was at $1200.

Note the important correction.


My father is a former West Coast division head attorney for Exxon. I appear to have inherited some of his high IQ ability to interpret the law.

I can't find anything in this document that specifically bans the bolded assumption.

This document is merely stating that Bitcoin will not be allowed to circulate widely as a currency to compete with RMB, because all volatility risk will remain outside the financial sector in the private parties and exchanges. It is very free market way of saying Bitcoin will not be backed by the government's system. There is nothing stopping businesses from accepting it, and converting it to RMB via a registered exchange.

The government will not likely clamp down on small scale acceptance, as it presents no credible threat to RMB. As we all see now, businesses are forced to convert to fiat immediately if they have significant expenses in fiat, i.e. Bitcoin presents no threat to fiat at the moment because of its volatility and the need for businesses to have fiat to pay their employees and operating expenses, etc..

Note small scale in China is big scale relative to current Bitcoin market size given the large population. Bitcoin is only in the tens of $billion range of market cap. Fiat finance is in the hundreds of $trillions. Bitcoin can grow immensely while still being small scale relative to fiat finance market size.

Whereas, (small) businesses could keep their profits in BTC, as easydns did (PenAndPaper username). Of course big businesses can't because the Bitcoin market cap is too small any way, besides big businesses are not into such risk.

The document is saying that non-financial entities must accept risk of holding BTC.

So this does not to stop the trajectory of Bitcoin in China. Exchanges can still operate and are not prevented from having a bank account to operate with. The document only bans financial institutions (and payment providers) from being market makers, underwriting, insurance, etc. In other words, all the risk and market making must be done by individuals and exchanges.

What they have done is simply kept Bitcoin in the free market-- the wild west.

This is an extremely bullish outcome. They have clarified that Bitcoin is legal for its small scale free market functions.

The Baidu thing is very suspicious. They accepted for a very small portion of their business which was misunderstood and caused a euphoria, then they dump when people misunderstand the ruling above, in order to create panic. Looks like some manipulators are getting rich on BTC pump & dump & rebuy on the dump.

Sold

Probably gonna see if I can buy some more here

People just try to buy back lower. But it's a shitty experience for some, cause they loose. Anyway, bitcoin went from 100 to 1000 and it's all i need. It proved it's power to me (speculated or not, doesn't matter)