Too all those saying "China FUD" - page 2.

MatTheCat

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Quote from: knightcoin on March 28, 2014, 09:05:55 AM

Every time I see FUD, the very first question that came to my mind is:

How much that bear bought it ?
How much that bear expect to profit until buy again ?

"every bear is bull embryo mutation"

I first came running to Bitcoin as a speculator in Nov 2013, bullish as hell. I was bullish on Bitcoin when I first went to open my Bitstamp account in Nov 2013 with Bitcoin already at a whopping $300. I was still waiting on Bitstamp to verify my account when Bitcoin crashed from $760 to $380 and turned bearish right on the eve of the crash (check my post history), but when Bitcoin recovered almost 100% within a few days, I turned bull again, as my Bitstamp account finally got set up and I bought my first speculative Bitcoins at low $700 range. I remained bullish until after the $1160 double top, at which point I turned bearish. Since then, I have been mostly bearish with the odd bit of flip flopping onto the bull's wagon.

Do you see a pattern emerging here that has absolutely nothing to do with a bear simply being a 'repressed closet bull' and everything to do with the bear simply wanting to avoid getting burned by sitting on the wrong side of the trade?

knightcoin

full member

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Stand on the shoulders of giants

Every time I see FUD, the very first question that came to my mind is:

How much that bear bought it ?
How much that bear expect to profit until buy again ?

"every bear is bull embryo mutation"

MatTheCat

hero member

Activity: 840

Merit: 1000

Quote from: billyjoeallen on March 28, 2014, 07:57:01 AM

FUD def: Fear, Uncertainty and Doubt. that's exactly what's coming out of China. I don't have to justify that. The burden of proof is on those reporting this ban, because there has been no confirmation from the PBOC. Until there's PBOC confirmation or denial, it is by definition FUD.

Hey Billy.

On the plus side, we have those sub $550 coins that you reckoned you would give your two front teeth to get at again. You know, those sub $550 coins that we were never going to see, because of what all the whales would do as soon at Bitcoin hit this price point. Are you buying as much as you can right now with all your worthless fiat and maxed out credit cards?

What about the forum member who you 'dared' to sell at $580? Do you still 'dare' him to sell at $511 and risk missing out on the ride 2 da moon?

Tell us oh sage one, how should we align our Bitcoin investments from here?

P.S. Is it not the case that you are only 'successful' because you got in nice and early, but had you been trading since Dec 2013, that you would be 90% down on your capital, which of course means that actually, you really don't have a fkn clue?

P.P.S. What if the PBOC don't blatantly advertise when they directly prohibit certain financial activities? What if it is more a Chinese way of doing things that the authorities simply pronounce their 'dim view' on Bitcoin and expect their citizens to fall into line out of sheer willingness to comply with the wishes of the state. What if they deal with the remaining non-compliants by simply shutting them out the system, yet acting as though nothing is wrong and nothing is banned? If that were the case, would it then be reasonable to assume that the exchanges may have their bank accounts frozen/terminated without so much as a single round of fanfare?

billyjoeallen

legendary

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Hide your women

FUD def: Fear, Uncertainty and Doubt. that's exactly what's coming out of China. I don't have to justify that. The burden of proof is on those reporting this ban, because there has been no confirmation from the PBOC. Until there's PBOC confirmation or denial, it is by definition FUD.

Colonel32

newbie

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http://www.bloomberg.com/news/2014-03-27/pboc-orders-banks-to-shut-bitcoin-exchange-accounts-caixin-says.html

As usual - Rumour spread by 'Interested' parties who want your Btc for nothing !

cbeast

donator

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Merit: 1014

Let's talk governance, lipstick, and pigs.

Huobi still has 5x more volume than Bitstamp.

Zapffe

newbie

Activity: 28

Merit: 0

Quote from: T.Stuart on March 28, 2014, 07:25:00 AM

Quote from: Zapffe on March 28, 2014, 07:11:00 AM

In my idea, the cultists are the reason on why there is this ugly slow downwards market. Without the cultists, we could of went down quickly, experienced some stability at the bottom for some time and then started to go up again. That would have been an healthy environment where one would feel comfortable investing.

Cultists are part of the healthy environment in all investments.

When that part gets too big, then the environment won't be healthy anymore.

T.Stuart

hero member

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One Token to Move Anything Anywhere

Quote from: Zapffe on March 28, 2014, 07:11:00 AM

In my idea, the cultists are the reason on why there is this ugly slow downwards market. Without the cultists, we could of went down quickly, experienced some stability at the bottom for some time and then started to go up again. That would have been an healthy environment where one would feel comfortable investing.

Cultists are part of the healthy environment in all investments.

Searing

copper member

Activity: 2898

Merit: 1465

Clueless!

posted just now more or less

seems it is NOT FUD

this is not good

http://www.theregister.co.uk/2014/03/28/bitcoin_china_pboc_ban/

Zapffe

newbie

Activity: 28

Merit: 0

I have felt the same feeling for several months already :/ Starting with "It doesn't mean anything that pboc stated how they don't want to see any business activity with bitcoin in China". Or "It will certainly be OK because Bobby Lee has a strong feeling that it will be OK".
Usually, I consider myself as a friend to bitcoin. With mostly defending bitcoin from mindless fear and hate. But in the context of this forum, I'm considered to be "the enemy of bitcoin" just because I think that it's not right to worship bitcoin and to try to make it seem like something that it clearly isn't.

In my idea, the cultists are the reason on why there is this ugly slow downwards market. Without the cultists, we could of went down quickly, experienced some stability at the bottom for some time and then started to go up again. That would have been an healthy environment where one would feel comfortable investing.

TERA

hero member

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Agreed. It is one thing to be bullish about a very bright future for bitcoin as world currency, and I don't have a problem with that. However, it is another thing to try to deny blatant facts and twist events around to manipulate so that so that everything is always perfect right now and support your desire for bitcoin prices to go straight to the moon right now and for everyone to follow along and buy. If you are really bullish about the future and the resiliency of bitcoin, then you shouldn't need to do that. That is just being delusional and manipulative.

oda.krell

legendary

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Merit: 1007

Yeah, never really thought I'd join that illustrious "perma bear" crowd, you know the one I mean, Blitz, ElectricMucus etc. But the reactions of the Bitcoin cultists are just too frustrating to stomach sometimes: on the faintest sign of good news anyone who cautiously asks for a source or verification is shouted down, while on the emergence of rather well-established bad news (like China right now), a majority is calling it FUD and feels bears are only trying to piss into their cryptocheerios. I remain as optimistic about the long term prospects of Bitcoin (or at least: of cryptocurrency as a whole) as I was, but that delusional subset of the investor crowd in here is getting on my nerves. Majorly.

master-P

hero member

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https://keybase.io/masterp FREE Escrow Service

As far as I can tell, it's still unclear on what position the PBOC is taking. I'm going to play it cautious in case a worst-case scenario unfolds. Don't listen to the people who bought at $1000, they'll say anything to try and get people to buy.

gentlemand

legendary

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Welt Am Draht

The Chinese government is hardly going to give a shit about informing exchanges. They're just a bunch of irritating nobodies in their eyes, if they're aware of who they are at all. If there's a decision it'll go straight to the banks and the exchanges will find out eventually from them.

favelle75

hero member

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Yawn....so China bans Bitcoin (again). Price dips, people move on, price goes back up. Big whoop.

lyth0s

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World Class Cryptonaire

Quote from: TERA on March 27, 2014, 04:27:01 PM

Justify yourselves. I'm tired of hearing this. What makes you keep saying that the China situation is FUD?

As far as I'm aware, it is a FACT that the PBOC issued statements in DECEMBER that third party payment processors and banks should not transact with bitcoin exchanges or in bitcoin. Since then, Chinese exchanges have ignored the guidance and continued to use bank accounts, and attempted other manipulations and tricks in defiance of their government. Bulls have been attempting to use sheer hope and willpower to turn this temporary situation into a permanent one and pretend that nothing ever happened in China and that everything is ok. They are deluded! To think that the Chinese government was not going to enforce PBOC rulings or for the bulls to think that they could go in and change the fabric of the universe to reverse things with their sheer bullishness, enthusiasm, and willpower. Moooooo! No! It was bound to fail eventually. Now the inevitable enforcement action rolls around. Even if the current news is fake (which I'm hearing it probably isn't), enforcement action could STILL be right around the corner, and I've been warning about this months, and how I never really liked this 'recovery' because it was always led by or supported by China which was doomed to fail eventually.

One more thing: Someone argued with me that cash vouchers were the reason everything was ok. You know well as I that it is not cash vouchers but bank transfers that have been moving the real money, cash vouchers are just another trick to defy the government which will probably also be banned, and that cash vouchers are not even on Huobi - the highest volume exchange, so they are practically irrelevant.

So anyway, anyone who still subscribes to the "China FUD" theory, explain yourselves?
1) Why do you think the rulings in December were fake, or did not really imply that bank accounts should not transact with Bitcoin exchanges? Provide proof. If there is a mistranslation, please provide the appropriate translation, and proof of how it is a valid translation.
2) Why do you think the current news is fake? Again, provide proof.

Do you have "proof" from the PBOC that the current news is real? Or do you just have 3rd party online news sources saying that it is real?

I don't really care either way, but if you're so adamant that it is real, can you live up to your own standards and provide proof yourself?

windjc

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Quote from: MatTheCat on March 27, 2014, 11:00:12 PM

Quote from: TERA on March 27, 2014, 10:02:47 PM

Why does every subject I talk about here end up with an irrelevant discussion about my own trading?

Cos if u say anything negative about future Bitcoin price action it obviously means you are jealous and hate Bitcoin cos u sold at $100 or something.

You mean like "Bitcoin is used to purchase illegal drugs that make people act like buttholes?"

Elwar

legendary

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Viva Ut Vivas

PBOC is the government? They have the backing of guns?

What does PBOC mean? Which division of the Chinese government does it stand for?

MatTheCat

hero member

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Quote from: TERA on March 27, 2014, 10:02:47 PM

Why does every subject I talk about here end up with an irrelevant discussion about my own trading?

Cos if u say anything negative about future Bitcoin price action it obviously means you are jealous and hate Bitcoin cos u sold at $100 or something.

hellscabane

legendary

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Regarding your second point (actually both to be honest), the onus is on the news provider to substantiate firm confirmation of the action. I've seen the statement regarding closing down the accounts of Chinese Bitcoin Exchanges, but when the PBOC goes onto weibo and says:

Quote

“Regarding the PBOC statement issued on 3/18 requesting all bitcoin transactions to be halted before 4/15, those close to the regulatory body told Sina Finance on Friday, the PBOC did issue a document, but it was not to ban/halt bitcoin transactions, instead to strengthen regulatory oversight of bitcoin transactions, circulation and redemptions.”

and another party says that the statement has "authenticity," one is clearly firmer than the other.

As we have seen before, it isn't uncommon for there to be a lot of misdirection and obfuscation regarding media, reports, and statements from China. That's why I stand firm with my statement saying that the onus is on the provider to fully substantiate such a claim.

However, maybe misdirection is part of the game plan in general? After all from a political perspective, if the U.S. is willing to accept bitcoin to a certain extent, China could easily slant in the other direction.

Topic: Too all those saying "China FUD" - page 2. (Read 4263 times)