Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 18487.

600watt

legendary

Activity: 2338

Merit: 2106

Quote from: Elwar on June 28, 2016, 07:01:01 AM

Quote

With the publication of the Civil Code General Provisions Draft, virtual properties and data have officially become Chinese people’s rights, what this means is that cryptocurrencies e.g. Bitcoin, virtual currencies e.g. online gaming tokens and data information, e.g. Big Data, shall all be officially recognized as Civil Right Objects. Yesterday(June 27th ), the 21st session of the 12th National People’s Congress Standing Committee(China’s Congress or/and Senate) was held in Beijing. The session reviewed, for the first time, the illustration on the PRC Civil Code General Provisions(Draft) Proposal, which was brought to the floor by the Chairman Meeting of the NPC Standing Committee. Within the draft, we see articles on virtual properties and data information, classifying them as new type of civil right objects, this means that virtual properties and data shall officially become people’s rights.

https://www.reddit.com/r/Bitcoin/comments/4q8eu9/chinese_civil_code_general_provisions_draft/

elwar, please make this a thread of its own. i think your finding is big. perfect timing. halving. perfect storm. just wow.

ahpku

sr. member

Activity: 294

Merit: 250

Does this means actual KYC/AML laws & stricter oversight by the Communist party for Chinese BTC exchanges?
This is, indeed, great news!
@600watt, stay classy!

Paashaas

legendary

Activity: 3512

Merit: 4557

Quote from: 600watt on June 28, 2016, 06:57:03 AM

Quote from: Elwar on June 28, 2016, 06:21:37 AM

http://www.8btc.com/minfa

bullish!

if i interpret google translator correctly it is saying china is legalizing bitcoin officially? no more december 2013 "china-ban-doom" possible? Huh

if this is no hoax, if this is the truth, then we know now what caused the price jump since end of may: chinese politician/function elite insider trading. they knew it would unleash the beast. so better get some while there are cheap.

No Hoax!

On Twitter; CN General Provisions Civil Law (Draft): Virtual assets will be officially protected by law. Providing legal basis for BTC related cases.

https://twitter.com/cnLedger/status/747593573017673728?ref_src=twsrc%5Etfw

ahpku

sr. member

Activity: 294

Merit: 250

Quote from: Elwar on June 28, 2016, 07:01:01 AM

Within the draft, we see articles on virtual properties and data information, classifying them as new type of civil right objects, this means that virtual properties and data shall officially become people’s rights.

So China is nationalizing bitcoin mines? Good news!

Elwar

legendary

Activity: 3598

Merit: 2386

Viva Ut Vivas

Quote

With the publication of the Civil Code General Provisions Draft, virtual properties and data have officially become Chinese people’s rights, what this means is that cryptocurrencies e.g. Bitcoin, virtual currencies e.g. online gaming tokens and data information, e.g. Big Data, shall all be officially recognized as Civil Right Objects. Yesterday(June 27th ), the 21st session of the 12th National People’s Congress Standing Committee(China’s Congress or/and Senate) was held in Beijing. The session reviewed, for the first time, the illustration on the PRC Civil Code General Provisions(Draft) Proposal, which was brought to the floor by the Chairman Meeting of the NPC Standing Committee. Within the draft, we see articles on virtual properties and data information, classifying them as new type of civil right objects, this means that virtual properties and data shall officially become people’s rights.

https://www.reddit.com/r/Bitcoin/comments/4q8eu9/chinese_civil_code_general_provisions_draft/

NewLiberty

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Activity: 1204

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Gresham's Lawyer

Quote from: Spaceman_Spiff on June 28, 2016, 02:27:26 AM

Quote from: DaRude on June 28, 2016, 01:21:41 AM

Quote from: NewLiberty on June 27, 2016, 11:16:48 PM

Quote from: HyphyBTC on June 27, 2016, 11:15:41 AM

A few thing people here don't seem to understand:

Most buying is done off exchanges and OTC. By a wide margin too.

China is not leading this market.

No fee Chinese exchanges are being used to "control" the market, because bots are linked and people think China is leading the market.
...
The rise to nearly 800 was one entity

...

If you figured this much out, then you probably also figured out that the one entity is not done yet either.

If one entity managed to corner BTC already, we have bigger issues

Funny how people always try to explain stuff through one hugely powerful entity, the great manipulator.
I guess it is easier to imagine a single actor and attribute intentions to this actor than to imagine the net effects of a large number of individuals.

This new buyer is doing quite a lot of distribution, not holding so much, and should be buying a more continuously for a good while

600watt

legendary

Activity: 2338

Merit: 2106

Quote from: Elwar on June 28, 2016, 06:21:37 AM

http://www.8btc.com/minfa

bullish!

if i interpret google translator correctly it is saying china is legalizing bitcoin officially? no more december 2013 "china-ban-doom" possible? Huh

if this is no hoax, if this is the truth, then we know now what caused the price jump since end of may: chinese politician/function elite insider trading. they knew it would unleash the beast. so better get some while there are cheap.

BlindMayorBitcorn

legendary

Activity: 1260

Merit: 1116

Quote from: Elwar on June 28, 2016, 06:21:37 AM

http://www.8btc.com/minfa

bullish!

If you people can't read Chinese by now...Where the hell have you been?!

Elwar

legendary

Activity: 3598

Merit: 2386

Viva Ut Vivas

http://www.8btc.com/minfa

bullish!

ahpku

sr. member

Activity: 294

Merit: 250

Bitcoin price is going to absolutely explode you guys. Soon!
Trust me, when it comes to price predictions, we're never wrong!

Quote from: ahpku on November 14, 2015, 09:18:33 AM

Lowered Expectations

~ time passes ~

Now:

P.S. Less than 2 days left to pump the price to $1k. Get buyin'!

HI-TEC99

legendary

Activity: 2772

Merit: 2846

Quote from: Mrpumperitis on June 28, 2016, 01:00:39 AM

http://www.cnbc.com/2016/06/27/bitcoin-gains-validity-as-digital-gold-after-brexit-vote.html

Jesse Powell, CEO of digital asset exchange Kraken, said that the volume of bitcoin trading on his company's site doubled in the 24 hours following the Brexit vote. Since June 10, there's been a five-fold increase in bitcoin to euro trading as of late Friday.

That's only the effects of the Brexit news breaking. When the Brexit process starts in September it should start a larger volume of Bitcoin trading. After a framework for what's to happen post-Brexit starts getting laid down it will make the traders seek out the safest haven, and that's Bitcoin.

savetherainforest

hero member

Activity: 1876

Merit: 612

Plant 1xTree for each Satoshi earned!

Quote from: Karartma1 on June 28, 2016, 01:57:48 AM

Thanks for posting the old Economist. That's a truly symbolic cover that reminded me the Bitcoin/Blockchain cover they posted last year. Nothing is done without purpose guys.

If you saw a full version of the Cogwheel Earth chained to Bitcoin cover, on the coin there is the infinity sign/symbol and the pyramid with the all seeking eye on it. Cheesy

*Edit: They probably own a big amount of coins! That makes them feel confident they can control things...

Spaceman_Spiff

legendary

Activity: 1638

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₪``Campaign Manager´´₪

Quote from: DaRude on June 28, 2016, 01:21:41 AM

Quote from: NewLiberty on June 27, 2016, 11:16:48 PM

Quote from: HyphyBTC on June 27, 2016, 11:15:41 AM

A few thing people here don't seem to understand:

Most buying is done off exchanges and OTC. By a wide margin too.

China is not leading this market.

No fee Chinese exchanges are being used to "control" the market, because bots are linked and people think China is leading the market.
...
The rise to nearly 800 was one entity

...

If you figured this much out, then you probably also figured out that the one entity is not done yet either.

If one entity managed to corner BTC already, we have bigger issues

Funny how people always try to explain stuff through one hugely powerful entity, the great manipulator.
I guess it is easier to imagine a single actor and attribute intentions to this actor than to imagine the net effects of a large number of individuals.

Karartma1

legendary

Activity: 2310

Merit: 1422

Thanks for posting the old Economist. That's a truly symbolic cover that reminded me the Bitcoin/Blockchain cover they posted last year. Nothing is done without purpose guys.

DaRude

legendary

Activity: 2833

Merit: 1851

In order to dump coins one must have coins

Quote from: NewLiberty on June 27, 2016, 11:16:48 PM

Quote from: HyphyBTC on June 27, 2016, 11:15:41 AM

A few thing people here don't seem to understand:

Most buying is done off exchanges and OTC. By a wide margin too.

China is not leading this market.

No fee Chinese exchanges are being used to "control" the market, because bots are linked and people think China is leading the market.
...
The rise to nearly 800 was one entity

...

If you figured this much out, then you probably also figured out that the one entity is not done yet either.

If one entity managed to corner BTC already, we have bigger issues

DaRude

legendary

Activity: 2833

Merit: 1851

In order to dump coins one must have coins

Quote from: Mrpumperitis on June 28, 2016, 01:00:39 AM

http://www.cnbc.com/2016/06/27/bitcoin-gains-validity-as-digital-gold-after-brexit-vote.html

Jesse Powell, CEO of digital asset exchange Kraken, said that the volume of bitcoin trading on his company's site doubled in the 24 hours following the Brexit vote. Since June 10, there's been a five-fold increase in bitcoin to euro trading as of late Friday.

Amazing how price can stay relatively stable when volume doubles Undecided

Mrpumperitis

legendary

Activity: 2758

Merit: 1075

http://www.cnbc.com/2016/06/27/bitcoin-gains-validity-as-digital-gold-after-brexit-vote.html

Jesse Powell, CEO of digital asset exchange Kraken, said that the volume of bitcoin trading on his company's site doubled in the 24 hours following the Brexit vote. Since June 10, there's been a five-fold increase in bitcoin to euro trading as of late Friday.

savetherainforest

hero member

Activity: 1876

Merit: 612

Plant 1xTree for each Satoshi earned!

Ok... Today is the day!

The day the pump starts pumping idiosyncratically again!

If it doesn't reach 700+ today, then moon later this week ... then it means some kind of Godlike sh!t intervention is happening from the world elites.

So prepare to be full in bitcoin! 100%!!! Go full retarded! Always go full retarded!!! Head first! Horns swinging!

Ah... yeah.. and it reminds me of this sh!t... that nullity sign in the middle of that coin... it just hit me, like... Bitcoin can do that!

It can literally eat up the economy of 5 Solar Systems of 3 x planets each of 100 billion people having in each Solar System... and occupy no space! .. But in the same time in its begging it can be nothing. Nullity!

*Edit: The magazine cover of 1988! LOL!

https://www.reddit.com/r/btc/comments/3v0yly/1988_economist_cover_predicting_a_world_currency/

http://thephaser.com/2016/01/flashback-1988-get-ready-for-a-world-currency-by-2018%E2%80%B3-the-economist-magazine/

*Edit2: I can see there ... the dollar, the swiss franc, bitish pound(this one is burning now), some kind of yuan/china/mongol currency and some ruble/russian currency I see as well...

NewLiberty

legendary

Activity: 1204

Merit: 1002

Gresham's Lawyer

Quote from: HyphyBTC on June 27, 2016, 11:15:41 AM

A few thing people here don't seem to understand:

Most buying is done off exchanges and OTC. By a wide margin too.

China is not leading this market.

No fee Chinese exchanges are being used to "control" the market, because bots are linked and people think China is leading the market.
...
The rise to nearly 800 was one entity

...

If you figured this much out, then you probably also figured out that the one entity is not done yet either.

HyphyBTC

newbie

Activity: 45

Merit: 0

Quote from: marcus_of_augustus on June 27, 2016, 08:14:23 PM

^^ Reads like Vinny Lingham's blog piece from yesterday ... HyphyBTC (aka hyphymikey) is Vinny?

Most certainly not lol. I'm pretty sure if you read my old post history under hyphymikey, you will see me talking about this years ago. I haven't looked back at the history lately, but I'm pretty sure I've talked about it in this thread.

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