Turns out Charlie Lee was right... HODL

batang_bitcoin

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Quote from: Kanapka on September 16, 2017, 11:32:24 AM

Warren Buffet said something about never invest into anything you would be confortable to hold for 10 years, or something like that.

So the final rule is: hodl or go home.

And Warren Buffet said that bitcoin is a mirage though.

Quote from: tokeweed on September 16, 2017, 08:15:19 AM

^ Wups... Maybe it's exactly why the Chinese regulators want those exchanges to close. Running a fractional reserve is a nono, unless you're a bank regulated by the government. Cheesy

That's very ironic.

This is possible, we don't know what are they planning to do but it's like they want to enter the bitcoin scene and buy bitcoin at lower rates so they just want to do something that's in favor of them.

Quote from: alyssa85 on September 16, 2017, 09:13:12 AM

Yes - the Chinese authorities have been investigating the exchanges since the start of the year and it's obvious that some shady stuff has been going on.

What's with that shady stuffs? I never knew about that.

Siren

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Quote from: alyssa85 on September 16, 2017, 09:13:12 AM

Quote from: tokeweed on September 16, 2017, 08:15:19 AM

^ Wups... Maybe it's exactly why the Chinese regulators want those exchanges to close. Running a fractional reserve is a nono, unless you're a bank regulated by the government. Cheesy

That's very ironic.

Yes - the Chinese authorities have been investigating the exchanges since the start of the year and it's obvious that some shady stuff has been going on.

But they allowed it to operate again after a few months and allowed withdrawals as well, however they have put a tighter regulations already and they said anyone caught would have to face heavy fines and probably closure. So we don't know what's really up to them shutting down their local exchanges as they have already laid regulations on them back in March if I'm not mistaken. Good thing though that I learn to really hold during this dump and not panic. Thanks to Charlie as well.

. Actually I followed him and read his tweets.

Kanapka

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Warren Buffet said something about never invest into anything you would be confortable to hold for 10 years, or something like that.

So the final rule is: hodl or go home.

AtheistAKASaneBrain

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Quote from: tokeweed on September 16, 2017, 02:20:24 AM

Charlie Lee didn't predict anything like what some of you are trying to say. He's the brother of BTCC owner Bobby Lee and Charlie probably has inside info on what's going on in China.

Now his 'trusted anonymous source' could be Booby Lee himself. No surprise there since BTCC was the first to announce that will be ceasing their operation soon.

Well, no matter if it was its brother that gave him the information or not, the fact is, he was right when he said that his source could be trusted, but he got a lot of hate and then he was forced to pretty much delete all of these tweets, but of course it was too late since everyone caps your tweets these days if you have a following.

I agree tho with the other poster that said how Charlie Lee is no longer a figure you can trust when it comes to if he is saying the truth or he is trolling. This is what happens when you play this "trollish personality" card, you end up with people not trusting your word even when you are being serious.

alyssa85

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Quote from: tokeweed on September 16, 2017, 08:15:19 AM

^ Wups... Maybe it's exactly why the Chinese regulators want those exchanges to close. Running a fractional reserve is a nono, unless you're a bank regulated by the government. Cheesy

That's very ironic.

Yes - the Chinese authorities have been investigating the exchanges since the start of the year and it's obvious that some shady stuff has been going on.

nelmari

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Well yes he did was able to predict the bear market right and he was right to just HODL the coins especially bitcoin. I would suggest the same thing if I was as good as him, and we would have the same prediction though he was trolling around in his tweets about it; maybe he said it in a sarcastic way or something.

YuginKadoya

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Quote from: btcney on September 16, 2017, 02:50:30 AM

Well yeah but somehow we are still going pretty well right now. Recovery is underway right now and we could go up to $4k+ by the start of next week, although it is still too early too tell whether this is a bull trap or not.

Long term holding is a good idea but if we are in a bubble, holding might not be the best idea.

I would say split your assets fifty-fifty, half in fiat and half in bitcoin so that if markets do go down, you don't lose everything.

You can surely put in each Altcoins that you trust too, but yes it is better to keep the half of it to Fiat money, but right now we can truly say that we have recovered from the big blow that china has done to us, I am one with the people that Hodl their bitcoin I am not aware at first that the price would certainly drops a significant amount, but I keep on Hodling because I know that it can surely recovers at no time because this is bitcoin were talking about.

tokeweed

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^ Wups... Maybe it's exactly why the Chinese regulators want those exchanges to close. Running a fractional reserve is a nono, unless you're a bank regulated by the government. Cheesy

That's very ironic.

alyssa85

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Charles Lee wrote another tweet which he then deleted, but you can see it on the following reddit thread:

https://www.reddit.com/r/Bitcoin/comments/70c6pp/charlie_lee_if_you_have_money_in_chinese/

It said:

Quote

If you have money in Chinese exchanges, I recommend withdrawing now and not wait til last minute. Just in case they don't have full reserve.

It implies that some Chinese exchanges have been operating a fractional reserve and won't have enough bitcoin to allow people to withdraw.

I wonder what they do in that situation - just let users take a loss, or try to buy some coins on the western exchanges to be able to fulfil their obligations? I'm guessing the former.

If it turns out that the exchanges were operating a fractional reserve, we have another bloodbath coming later this month.

batang_bitcoin

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I did see Charlie Lee is like a commander of a battalion of hodlers and traders and every single words he post does have an effect and reaction to the crypto market.

Quote from: fabiorem on September 15, 2017, 09:05:13 AM

I think the Red Party will change bitcoin to neo as the main coin in exchanges.

So we will see a rise on the price of neo soon. Good option for hedge.

I don't think so, it's very far to happen.

Quote from: tokeweed on September 16, 2017, 02:20:24 AM

probably has inside info on what's going on in China.

Likely he has because he's been posting updates about the regulation and bans in China.

cafucafucafu

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China definitely does not have as much control over the bitcoin markets as before but still has quite a bit that can't be ignored.

I think that this current recovery should sustain until at least the end of the month when the real preparation for closing down exchanges really begins. Then, people will be reminded of the fact that exchanges are going to go down and panic sell.

This is a great time to buy because in the long term, p2p trading is going to be the way to go. Centralized exchanges aren't going to be necessary anyway-.

dothebeats

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Not a personal fan of Charlie ever since the inception of Litecoin but sometimes he makes some valid points which is, most of the time being regarded as a troll comment. This time he warned everyone ahead of what's gonna happen down the road yet no one bothered to listen. Many people lost money overnight, and sold to avoid sinking further. Well I guess you can never trust someone who is 99% troll and 1% serious.

Quote from: mk4 on September 15, 2017, 01:20:59 PM

I'm not actually surprised. Even though days ago I was trying to convince people to not 100% believe Charlie's tweet yet (as we didn't have proof), I already had a feeling that he was actually right. He claimed that he got the information from a "trusted anonymous source". I'm guessing that that source is his brother, Bobby Lee, who is the founder or CEO(if I remember correctly) of the chinese exchange, BTCC.

Could be, but not everyone listened because again, for the.most part, Charlie is a troll. Good thing I haven't sold any of my bitcoins and silently bought some when we are at $2900-$3100.

Kemarit

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Yeah, I saw this tweet. Although when he tweeted, the price is already diving and there's no way that someone would sell their bitcoin at those price, well not for me. So even without reading his tweet, I wouldn't sold off my precious bitcoin because the price has already plummeted. And it was also a coincidence that around the tweet, Dimon's statement against bitcoin surfaced as well. So I guess this what causes another panic that floor the price to $2800 before recovering in the last 24 hours.

Quote from: tokeweed on September 16, 2017, 02:20:24 AM

Charlie Lee didn't predict anything like what some of you are trying to say. He's the brother of BTCC owner Bobby Lee and Charlie probably has inside info on what's going on in China.

Now his 'trusted anonymous source' could be Booby Lee himself. No surprise there since BTCC was the first to announce that will be ceasing their operation soon.

Probably is. BTCC was the first to voluntarily suspend its trading operation up to the end of the month. So he must have some inside information and he immediately tweeted to the rest of his followers.

btcney

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Well yeah but somehow we are still going pretty well right now. Recovery is underway right now and we could go up to $4k+ by the start of next week, although it is still too early too tell whether this is a bull trap or not.

Long term holding is a good idea but if we are in a bubble, holding might not be the best idea.

I would say split your assets fifty-fifty, half in fiat and half in bitcoin so that if markets do go down, you don't lose everything.

tokeweed

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Life, Love and Laughter...

Charlie Lee didn't predict anything like what some of you are trying to say. He's the brother of BTCC owner Bobby Lee and Charlie probably has inside info on what's going on in China.

Now his 'trusted anonymous source' could be Booby Lee himself. No surprise there since BTCC was the first to announce that will be ceasing their operation soon.

Herbert2020

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you can never tell when Charlie Lee is kidding/trolling and when he is serious that is most probably why most people were calling him out on what he said. in any case there was no logic behind this kind of dump for bitcoin just because China was regulating its exchanges like before! i mean the first time they did it the price didn't drop like this, why should it drop now?
of course by that time the "news" was saying they are regulating them.
but this time the "news" was saying China banned bitcoin! the next level of FUD Shocked

CryptoBry

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Quote from: mk4 on September 15, 2017, 01:20:59 PM

I'm not actually surprised. Even though days ago I was trying to convince people to not 100% believe Charlie's tweet yet (as we didn't have proof), I already had a feeling that he was actually right. He claimed that he got the information from a "trusted anonymous source". I'm guessing that that source is his brother, Bobby Lee, who is the founder or CEO(if I remember correctly) of the chinese exchange, BTCC.

Now, Bitcoin has shown how strong and resilient it be in the face of its biggest challenge yet. People who are discouraged and doubting Bitcoin should realize that things will not always be gloomy as there can always be the sunshine after the rain. Bitcoin can be so strong right after this very pivotal challenge. We can all show to the world that even if there is no China officially Bitcoin can still make it and be the most valuable cryptocurrency.

CaptainJack

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i think what charlie did is good ,he released news earlier to market compare to waiting until BTC price reach ATH and then some evil people release bad news to crush the market

electronicash

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Quote from: BTCdoaA on September 15, 2017, 01:27:16 PM

Quote from: fabiorem on September 15, 2017, 09:05:13 AM

I think the Red Party will change bitcoin to neo as the main coin in exchanges.

So we will see a rise on the price of neo soon. Good option for hedge.

NEO is risky and very dangerous investment for the time being because its connection directly to Chinese markets so it is better for everybody to HODLE bitcoin only just for now .

i have to decide to board to NEO's boat to gain GAS as dividends and this is made its demand quite good. this won't make it risky and the chinese are reconsidering this token very much, its going to moon over those on top once the ICO regulation will be fixed. Redpulse is coming.

BTCdoaA

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Quote from: fabiorem on September 15, 2017, 09:05:13 AM

I think the Red Party will change bitcoin to neo as the main coin in exchanges.

So we will see a rise on the price of neo soon. Good option for hedge.

NEO is risky and very dangerous investment for the time being because its connection directly to Chinese markets so it is better for everybody to HODLE bitcoin only just for now .

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