Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 27827. (Read 26710107 times)

I thought listentobitcoin was malware infested and replaced by bitlisten.

I don't think we are dumping today.  This impulse up was too sharp in my opinion. I think we test the highs of last week before selling off again.

Honestly, what's going on with these Chinese exchanges is beyond me at this point. I assume the rise is based on short covering. But no rise can sustain for too long, not with NO money coming into the exchanges.

But for today we are probably going to see more up before we see more down.

now i am

https://bitcointalksearch.org/topic/listen-to-bitcoinfucking-awesome-162724

447$ on bitstamp, a small increase in price before a new dump??

Thread needs a new poll: The pumpers will move to which exchange?

And, you are profound and pithy.  I'm impressed. 

 

You are a fool who wastes many words.

Your "translation" makes LITTLE to NO sense, and seems to be an attempt to be argumentative b/c you seem to be butt hurt that BTC is NOT going to zero or to double digits or anywhere near those prices that you have been projecting.  You seem to have unrealistic and overly pessimistic views about the long term potentials for BTC, which makes me wonder why you participate in this thread?  Are you trying to "save" us from bitcoin or do you merely get joy in the spreading of FUD?

My comment in the above post is NOT based on my own position in BTC.  I am saying what I believe to be a good BTC investment strategy for someone who wants to get into BTC.  In sum, invest in BTC on the way down, b/c currently BTC prices are good and inevitably in the medium term they will be going up (likely this calendar year or even within the coming months).

I am NEITHER biased by NOR worried about my own position in BTC (currently average buy-in price of $599) either b/c I am in BTC long, and I have considerable confidence that BTC is on its way up, at least in the next couple of years (or sooner) and that fairly easily BTC prices will go above my average buy-in price of $599.   

Accordingly, I feel that I do NOT need to convince anyone else to buy into BTC b/c it seems very likely that BTC prices will be going up - NO matter what I say..   

As you may or may NOT have heard, there is network momentum with BTC that will likely continue to cause exponential growth in BTC prices - whether that growth is 10x (as it has been historically in the last 4 years) or 2x (which is more modest), I am fairly confident that some form of exponential growth in BTC will continue to take place.  I am more inclined to think that exponential growth will be 2x to 5x in the next few years rather than 10x, as it had been.

  Yet, my investment in BTC does NOT rely upon exponential growth b/c I invested only as much as I am willing to lose.  I would be completely happy with BTC performance that beats my average stock index fund returns (which is about 6% per year), yet in my view, even if BTC does NOT meet or beat that 6% per year, for me, it remains a diversified investment in my portfolio that is worth the risk b/c of a considerable upside potential.

Wow big bubbles! lots of 8k btc transfer? anyone watching this site? http://www.listentobitcoin.com/

Mark first delayed withdrawals without admitting it.  Then, when people began to realize what he was doing, he blocked all withdrawals by surprise. Doing so he trapped half a billion USD worth of coins and cash, without giving the users a choice.

I suppose that the Chinese exchanges will never block BTC withdrawals, and will give advance warning of the end of yuan withdrawals.  So, when the latter happens, I expect that only a few traders will be left, and most of them will have means to withdraw, e.g. in cash.

However, the bank statements may be read as barring the exchanges from having bank accounts at all, even if they are for internal use only and clients cannot deposit there.  If this interpretation is correct, then the exchanges will not be able to keep clients' yuan at all (they would not hold cash in a safe, I suppose), and will have to close, like FXBTC did.

In any case, most traders will probably sell all their bitcoins and cash out, others will buy those bitcoins, withdraw them, and transfer them to Western exchanges or hoard them.   That shoudl cause the price to drop in China and in the West together.

Chinese escaping from a sinking ship  

soon 

If you are interested in Monero, you probably want to vote now: https://bitcointalksearch.org/topic/bmr-vs-mro-time-to-make-it-fair-599455

Gox was even worse at the end - you could not even withdraw BTC. We later learnt why ...

Yeah, I was also wondering that. I do not remember what is the Chinese authorities stand on mining, mining equipment vendors etc?

To some extend, even if any transferring BTC out of China would be profibited, one can imagine big players buying them from smaller miners at discount and than doing a big smuggling operation.

Explanation

They definitely can send BTC to foreign exchanges. It is impossible to effectively forbid it. I imagine they should no problems trading at least at exchanges who are relaxed about customer verification, like BTC-e. With some other, I do not know. Chinese seem to have limit on how much money you can transfer abroad every year - I do not know if there are any restrictions on bringing money in (i.e. selling BTC on Bitstamp and wiring $$$ back to China)? Theoretically, Chinese authorities should like $$$ flowing into the country - but not all of their actions seem logical  

I wonder if a side effect of China's exchanges being hamstrung (at best) is that Chinese miners will stop mining because there's no easy way to sell their coins. That would lead to a drop in difficulty, benefiting miners elsewhere - though potentially placing further downward pressure on prices on the remaining exchanges.

The chinese trading at the chinese exchanges

This is the first time I watched the btc transactions.. I think I've seen more than 20k btc transaction in a few minutes... Does this normally happen everyday?

I was also wondering about that - I think it must be some way left of withdrawing fiat from Chinese exchanges? I though only new fiat deposit are prohibited. If you can no more withdraw fiat than your only option would be to buy btc. Who would sell btc in such situation - exchange owners?

Translation: Contrary to the advice of every experienced trader, trying to call the bottom is a good idea.

*edit*

And I bought a lot of bitcoin at much higher price and desperately need the support of greater fools.