Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 27785.

windjc

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Quote from: Davyd05 on May 11, 2014, 05:01:05 AM

Quote from: windjc on May 11, 2014, 04:52:42 AM

Why the hell is the market going down? I thought it was all trains and moons?!

Where is Chessnut? I want an explanation immediately.

Keep shorting what else is there for you to do?

I haven't been paying attention so I'm not sure if Chessnut is leveraged long..but I doubt he' gives a fuck Cheesy

about a $14 swing as the Chinese go to sleep following a deadline that was met with no announcements or actions.

No, but what the bulls should be concerned about is the fact that this latest short rally didn't even get as high as the last short rally and it died on very low volume.

So again, I ask. How do we rally with people buying coins?

klee

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Quote from: TERA on May 11, 2014, 05:03:02 AM

Quote from: eiskalt on May 11, 2014, 05:01:24 AM

Quote from: EuroTrash on May 11, 2014, 04:46:27 AM

ok so let me guess how this might play out:

(...)

5. When/if 4 happens, we will soon discover how much is the impact on price on western exchanges. It might as well be the final test (bit like the "Silk Road bust" test last year) and bring the decoupling that everyone here seems to be expecting.

Hmm, "Silk Road bust" happend weeks after reversal of the downtrend. It was a shakeout. Now we are still in a downtrend, which I would expect to go on for at least another 3 to 4 weeks.

The recovery from the silk road bust was actually the start of when China started buying. Who knows what would have happened without China.

True

klee

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Quote from: BitAddict on May 11, 2014, 04:55:45 AM

Quote from: EuroTrash on May 11, 2014, 04:46:27 AM

ok so let me guess how this might play out:

1. FXBTC played a Gox (fact)
2. Other exchanges might be operating a fractional reserve too (speculation, https://bitcointalksearch.org/topic/m.6505570) (meh, call me fudster if you want)
3. Chinese traders are worried that other exchanges might pull a Gox too and hence a part of them will aim for the fiat exit door, depressing the price.
4. 1 and 2 add another reason for PBoC to want to "protect the people" and pull the plug on the other exchanges before a large scale Goxxing happens.
5. When/if 4 happens, we will soon discover how much is the impact on price on western exchanges. It might as well be the final test (bit like the "Silk Road bust" test last year) and bring the decoupling that everyone here seems to be expecting.

I totally agree.

Hehe, I am waiting my orders (<=380$) to be filled!!

TERA

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Activity: 728

Merit: 500

Quote from: eiskalt on May 11, 2014, 05:01:24 AM

Quote from: EuroTrash on May 11, 2014, 04:46:27 AM

ok so let me guess how this might play out:

(...)

5. When/if 4 happens, we will soon discover how much is the impact on price on western exchanges. It might as well be the final test (bit like the "Silk Road bust" test last year) and bring the decoupling that everyone here seems to be expecting.

Hmm, "Silk Road bust" happend weeks after reversal of the downtrend. It was a shakeout. Now we are still in a downtrend, which I would expect to go on for at least another 3 to 4 weeks.

The recovery from the silk road bust was actually the start of when China started buying. Who knows what would have happened without China.

akujin

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I wanna see PBOC show it's teeth Grin

TERA

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lol at the people who were posting their game-plans of how we were breaking out to $600 and then 2 weeks later we'd be at $800 and then 2 weeks later we'd be at $1,000

eiskalt

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Activity: 336

Merit: 250

Quote from: EuroTrash on May 11, 2014, 04:46:27 AM

ok so let me guess how this might play out:

(...)

5. When/if 4 happens, we will soon discover how much is the impact on price on western exchanges. It might as well be the final test (bit like the "Silk Road bust" test last year) and bring the decoupling that everyone here seems to be expecting.

Hmm, "Silk Road bust" happend weeks after reversal of the downtrend. It was a shakeout. Now we are still in a downtrend, which I would expect to go on for at least another 3 to 4 weeks.

Davyd05

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Activity: 574

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Quote from: windjc on May 11, 2014, 04:52:42 AM

Why the hell is the market going down? I thought it was all trains and moons?!

Where is Chessnut? I want an explanation immediately.

Keep shorting what else is there for you to do?

I haven't been paying attention so I'm not sure if Chessnut is leveraged long..but I doubt he' gives a fuck Cheesy

about a $14 swing as the Chinese go to sleep following a deadline that was met with no announcements or actions.

ChartBuddy

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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

Explanation

BitAddict

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Quote from: EuroTrash on May 11, 2014, 04:46:27 AM

ok so let me guess how this might play out:

1. FXBTC played a Gox (fact)
2. Other exchanges might be operating a fractional reserve too (speculation, https://bitcointalksearch.org/topic/m.6505570) (meh, call me fudster if you want)
3. Chinese traders are worried that other exchanges might pull a Gox too and hence a part of them will aim for the fiat exit door, depressing the price.
4. 1 and 2 add another reason for PBoC to want to "protect the people" and pull the plug on the other exchanges before a large scale Goxxing happens.
5. When/if 4 happens, we will soon discover how much is the impact on price on western exchanges. It might as well be the final test (bit like the "Silk Road bust" test last year) and bring the decoupling that everyone here seems to be expecting.

I totally agree.

windjc

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Activity: 2156

Merit: 1070

Why the hell is the market going down? I thought it was all trains and moons?!

Where is Chessnut? I want an explanation immediately.

akujin

sr. member

Activity: 336

Merit: 250

What?! It dropped already? I expected at least 460... And it's Sunday... Weaksauce Grin

EuroTrash

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ok so let me guess how this might play out:

1. FXBTC played a Gox (fact)
2. Other exchanges might be operating a fractional reserve too (speculation, https://bitcointalksearch.org/topic/m.6505570) (meh, call me fudster if you want)
3. Chinese traders are worried that other exchanges might pull a Gox too and hence a part of them will aim for the fiat exit door, depressing the price.
4. 1 and 2 add another reason for PBoC to want to "protect the people" and pull the plug on the other exchanges before a large scale Goxxing happens.
5. When/if 4 happens, we will soon discover how much is the impact on price on western exchanges. It might as well be the final test (bit like the "Silk Road bust" test last year) and bring the decoupling that everyone here seems to be expecting.

JorgeStolfi

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Quote from: TERA on May 11, 2014, 04:06:02 AM

I don't see anything about PBOC in this article. There is a reporter covering how FXBTC has pulled a gox.

I understood that (1) FXBTC went downn one day earlier than some clients expected and they lost tens of thousands of yuan; (2) The PBoC or other agency has decided that bitcoin exchanges are violating some securities trading laws.

But it is all too confusing. I wish I had learned Chinese when my brain was still soft enough...

eiskalt

sr. member

Activity: 336

Merit: 250

Quote from: fotosonics on May 11, 2014, 03:12:27 AM

Someone exposed lobbyists working for Mastercard as being responsible for FUD

http://www.forbes.com/sites/perianneboring/2014/05/09/secs-investor-warning-on-bitcoin-could-stifle-innovation/

To me it seems more like Perianne Boring is spreading forbes-FUD.

Quote from: Perianne Boring

The possible social benefits of Bitcoin far outweigh the investment threats of Bitcoin. This Investor Alert must stem from the approximate $500 million worth of bitcoin that was lost in the Mt. Gox bitcoin exchange.

There were tons of BTC stolen by fraud/hacks/theft long before mtgox. Central banks around the world issued warnings concerning bitcoin long ago. I guess mastercard lobbied the PBOC as well. Cheesy

TERA

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Quote from: Dalmar on May 11, 2014, 04:08:24 AM

Quote from: TERA on May 11, 2014, 04:06:02 AM

I don't see anything about PBOC in this article. There is a reporter covering how FXBTC has pulled a gox.

''the central bank allowed free trading, refers to a personal transaction between similar stamps occasional transaction, rather than through the trading platform of large transactions. Because in the trading platform, trading capital is completely opaque, illegally occupied the platform, even trading platform ever-present risk of foot is equal to social stability left a time bomb. Meanwhile, for a variety of exchanges, the State Department policy is very clear, that must be cleaned.

According to Article 20 of the "People's Bank of China Law", no unit or individual shall not print or sell tokens bills to replace the circulation of RMB in the market. Violators central bank should be ordered to stop illegal and impose a fine of 200,000 yuan.''
---

The article is likely PBOC sponsored like most Caixin bitcoin related news, conveniently released when bitcoin was about to touch a major trend line.

That is a footnote the reporter added to catch readers up on old news. The real news is about FXBTC.

strawbs

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Quote from: Dalmar on May 11, 2014, 04:08:24 AM

The article is likely PBOC sponsored like most Caixin bitcoin related news, conveniently released when bitcoin was about to touch a major trend line.

I very much doubt that PBOC are doing pseudo TA on bitcoin "trend lines" Roll Eyes

Hunyadi

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☑ ♟ ☐ ♚

Quote from: hccwin on May 11, 2014, 03:00:47 AM

Oh, this doesn't look good at all.

Oh dear!

Dalmar

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Life is short, practice empathy in your life

Quote from: TERA on May 11, 2014, 04:06:02 AM

I don't see anything about PBOC in this article. There is a reporter covering how FXBTC has pulled a gox.

''the central bank allowed free trading, refers to a personal transaction between similar stamps occasional transaction, rather than through the trading platform of large transactions. Because in the trading platform, trading capital is completely opaque, illegally occupied the platform, even trading platform ever-present risk of foot is equal to social stability left a time bomb. Meanwhile, for a variety of exchanges, the State Department policy is very clear, that must be cleaned.

According to Article 20 of the "People's Bank of China Law", no unit or individual shall not print or sell tokens bills to replace the circulation of RMB in the market. Violators central bank should be ordered to stop illegal and impose a fine of 200,000 yuan.''
---

The article is likely PBOC sponsored like most Caixin bitcoin related news, conveniently released when bitcoin was about to touch a major trend line.

TERA

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Activity: 728

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Quote from: Dalmar on May 11, 2014, 04:01:43 AM

Quote from: Dalmar on May 10, 2014, 06:38:20 PM

Quote from: TERA on May 10, 2014, 06:29:04 PM

What's taking so long for the latest doomsday PR to come out and stop the breakout attempt?

The PBOC never releases FUD on weekends.

I was wrong, PBOC sponsored FUD did come out Lips sealed

http://finance.caixin.com/2014-05-11/100675750.html

I don't see anything about PBOC in this article. There is a reporter covering how FXBTC has pulled a gox.

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