Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 17762. (Read 26608261 times)
February 09, 2017, 10:28:32 AM
What do u think the bottom will be? I dont think its going lower than 700.
February 09, 2017, 10:28:07 AM
losing the mining is alarming, i dunno how things would pan out if they did or even whether it's possible
The only possible ways to do that is to prevent the farms to communicate on internet (impossible), or to physically delete the farms, ie put people in jail and/or burn the miners (not likely but possible for big farms because of the electric bill)there are lots of people making money because of the existence of mining farms in China. from the owners of the farm and their employees to small electric companies who owe their survival to mining farms and their special contracts, and the hardware companies manufacturing mining equipment.
don't think for a second government can even touch such a huge financial operation with so many big people involved.
miningfarms will most likely not be shut down, but instead they could very well be forced to mine the official chinese cryptocurrency that the chinese gov has already announced. that would be a much more possible scenario imo.
official cryptocurrency will NEVER happen because it is an idiotic concept to begin with.
why would any government want to issue a currency that is limited in size (number of units)?
if it is not limited in size, then why bother in the first place? they can "digitally" print as many yuans as they want.
February 09, 2017, 10:25:36 AM
isn't coins being trapped in China good? less liquidity? we'll be trading with less of a pool of Bitcoins.
anyhow...
is crypto done??
anyhow...
is crypto done??
They are trapped due to AML requirements, so the only way they can 'escape' is to convert themselves to fiat and leave via the front door in full view of the authorities.
Someone will buy them, being prepared to wait a month to withdraw them, but they will obviously want a heavy discount for their patience.
There is probably a flood of Bitcoin withdrawals from BTCC as it hasn't yet temporarily stopped them. BTCC's customers are probably withdrawing, then dumping on a safe exchange. After they finish dumping the price will probably go back up.
I saw it at $970 now it is $958.
This is a troubling situation for the ones who have vested alot in to it over the last couple of days.
Why would anyone have done anything like that??
February 09, 2017, 10:24:13 AM
losing the mining is alarming, i dunno how things would pan out if they did or even whether it's possible
The only possible ways to do that is to prevent the farms to communicate on internet (impossible), or to physically delete the farms, ie put people in jail and/or burn the miners (not likely but possible for big farms because of the electric bill)there are lots of people making money because of the existence of mining farms in China. from the owners of the farm and their employees to small electric companies who owe their survival to mining farms and their special contracts, and the hardware companies manufacturing mining equipment.
don't think for a second government can even touch such a huge financial operation with so many big people involved.
miningfarms will most likely not be shut down, but instead they could very well be forced to mine the official chinese cryptocurrency that the chinese gov has already announced. that would be a much more possible scenario imo.
February 09, 2017, 10:24:00 AM
Why does the high price of BTC, worry the Chinese inspectors?
February 09, 2017, 10:23:44 AM
BTC was rising too fast with no proper reasoning, this is the proper setback.
Nonsense as always. Have you been watching the network security lately? Hashrate 6 months ago was almost 1/2 of what it is now.Flash to 700 then slowly to my 300 target?
Last rise i had predicted was an exit pump.
300!? wut. Even 700 sounds too low. But what do I know...Last rise i had predicted was an exit pump.
February 09, 2017, 10:22:39 AM
Flash to 700 then slowly to my 300 target?
Last rise i had predicted was an exit pump.
300!? wut. Even 700 sounds too low. But what do I know... Last rise i had predicted was an exit pump.
February 09, 2017, 10:21:08 AM
isn't coins being trapped in China good? less liquidity? we'll be trading with less of a pool of Bitcoins.
anyhow...
is crypto done??
anyhow...
is crypto done??
They are trapped due to AML requirements, so the only way they can 'escape' is to convert themselves to fiat and leave via the front door in full view of the authorities.
Someone will buy them, being prepared to wait a month to withdraw them, but they will obviously want a heavy discount for their patience.
There is probably a flood of Bitcoin withdrawals from BTCC as it hasn't yet temporarily stopped them. BTCC's customers are probably withdrawing, then dumping on a safe exchange. After they finish dumping the price will probably go back up.
I saw it at $970 now it is $958.
This is a troubling situation for the ones who have vested alot in to it over the last couple of days.
February 09, 2017, 10:20:22 AM
losing the mining is alarming, i dunno how things would pan out if they did or even whether it's possible
The only possible ways to do that is to prevent the farms to communicate on internet (impossible), or to physically delete the farms, ie put people in jail and/or burn the miners (not likely but possible for big farms because of the electric bill)there are lots of people making money because of the existence of mining farms in China. from the owners of the farm and their employees to small electric companies who owe their survival to mining farms and their special contracts, and the hardware companies manufacturing mining equipment.
don't think for a second government can even touch such a huge financial operation with so many big people involved.
February 09, 2017, 10:18:15 AM
Flash to 700 then slowly to my 300 target?
Last rise i had predicted was an exit pump.
Last rise i had predicted was an exit pump.
February 09, 2017, 10:18:06 AM
BTC was rising too fast with no proper reasoning, this is the proper setback.
We need to implement new technologies and applications to the network before we can have a steady rise... lately, theses rises were just due to the bullish and delusional people that believe in the impossible.
For BTC expansion and major acceptance we need a stronger and bolder foundation, for now we are still looking if BTC should implement or not segwit, LN and other promising technologies if we are not implementing new solutions to the actual BTC problems the price shouldn't be rising like the last few weeks.
This dump was just a wake-up call(IMO), the price will surely increase in the future but we need to improve the technology first...
We need to implement new technologies and applications to the network before we can have a steady rise... lately, theses rises were just due to the bullish and delusional people that believe in the impossible.
For BTC expansion and major acceptance we need a stronger and bolder foundation, for now we are still looking if BTC should implement or not segwit, LN and other promising technologies if we are not implementing new solutions to the actual BTC problems the price shouldn't be rising like the last few weeks.
This dump was just a wake-up call(IMO), the price will surely increase in the future but we need to improve the technology first...
February 09, 2017, 10:16:53 AM
losing the mining is alarming, i dunno how things would pan out if they did or even whether it's possible
The only possible ways to do that is to prevent the farms to communicate on internet (impossible), or to physically delete the farms, ie put people in jail and/or burn the miners (not likely but possible for big farms because of the electric bill) February 09, 2017, 10:13:59 AM
Is this not just part of the enormous handle, for 3 year cup and handle?
February 09, 2017, 10:11:30 AM
Man everything was looking so good.
And then cocksucking PBoC comes and ruins it
And then cocksucking PBoC comes and ruins it
It doesn't look that bad. I am just sad I've missed it and that I can't afford to buy a couple of BTC now.
It may get back to 1024$ before Monday ends....
February 09, 2017, 10:07:04 AM
Man everything was looking so good.
And then cocksucking PBoC comes and ruins it
And then cocksucking PBoC comes and ruins it
February 09, 2017, 10:03:24 AM
Still the effect of real news is not bigger than the January fall to $800 and lower that happened for no concrete reason, at least until now
I guess the chinese are getting less power in the price, what their next move will be?
I guess the chinese are getting less power in the price, what their next move will be?
Next step would obv be to close a small exchange. Then, after several smaller ones, proceed with the bigger ones.
Then go after the miners. Then go after every retailer that accepts BTC.
there are no retailers in china. the only thing in china is mining and exchanges. losing the mining is alarming, i dunno how things would pan out if they did or even whether it's possible. exchanges, let's get it over with.
February 09, 2017, 10:02:16 AM
I'm actually not enjoying this price drop. It's beginning to hurt my eyes seeing these numbers.
Today started so well and looked so bullish. It just shows btc hasn't grown up fully and can be battered at any moment. This will not help ETF
Today started so well and looked so bullish. It just shows btc hasn't grown up fully and can be battered at any moment. This will not help ETF
Actually it absolutely WILL help the ETF. I believe this is being done in support of the ETF being approved.
They've had years to implement this. So what other reason would there be to rush KYC/AML implementation and have it done exactly 4 weeks from today?
I seconded it on the other thread.
Bitcoin's Manifest destiny, man.
February 09, 2017, 10:01:22 AM
This could be the real last chance to buy bitcoin below $1000??
Ha ha, I keep seeing this!
February 09, 2017, 10:00:55 AM
With the PBOC announcement, if you don't think it will go down further you are delusional.
How serious is it? Chinese exchanges couldn't withdraw bitcoin right?
February 09, 2017, 10:00:27 AM
Guy's at PBOC wanna earn some money for themselves, worked out every time 
Can you make an account at either Huobi or OKcoin without giving KYC information provided you don't withdraw fiat? If you can and either exchange suddenly demands KYC information from everyone there will be some customers who would rather lose their Bitcoins than provide KYC.
The PBOC could demand those exchanges hand all those unclaimed Bitcoins to it, then do US style auctions.
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