Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 27977. (Read 26709863 times)

410 (pulled from nothing)

My understanding is that these measures are not due to PBoC being worried about the economic/monetary impact of bitcoin.  It seems to be the law enforcement and national security agencies that are worried about criminal uses of bitcoin trading for money laundering, bribes, etc..

Whathever their ultimate origin, the orders are coming through the PBoC because banks and payment processors are subordinated to the PBoC, so it is the PBoC task to figure out the detailed rules and inform the banks etc..

This interpretation seems consistent with public statements by PBoC officials, that for them bitcoin is a harmless tradeable commodity "like stamps" and they see no problems in their ownership or trade.  The problem seems to be the flow of yuan between clients of the exchanges.  I suppose that one can easily launder money or pay a bribe that way.

In most exchanges, trades usually happen at the ends of the spread, when a buyer or a seller moves his order to meet a waiting order on the other side.  However, the last time I looked at the individual trades at OKCoin, there were many small trades that occurred at random prices within the spread.   Perhaps (I haven't checked) these middle-of-spread trades account for the steady background of volume (~10% of total volume) that one sees at OKCoin (and only there).

The explanation I can think of for these middle-of-spread trades is a buyer and a seller (perhaps the same person) agreeing to post matching orders at the same instant at that price.  Such "rendez-vous" trades could be a way to launder bitcoins and/or money in a way that would be difficult for the police to trace, even if they had access to the deposit and withdrawal records of all the exchange's clients (which the exchanges presumably provide).  

Only by analyzing the trade logs one could figure out who ended up transfering money to whom.  Even then, if the trick is played with three or more client accounts (A "loses money" trading with B, who "loses money" trading with C, etc.) it may be impossible to detect intentional money transfers, say from a businessman to a government official.

As for mining, if this interpretation is correct, neither the PBoC nor the security agencies should object to it.  On the contrary, if the mined bitcoins are sold outside China for dollars, they are adding to the country's exports, which makes the government happy.

EDIT: PS. here in Brazil, illegal gains have often been disguised by buying winning lottery tickets (at a premium ofcourse).  A congressman made headlines a couple of years ago by winning dozens of large prizes, with tickets supposedly bought in the same remote small town.  "I am a lucky guy", he explained.

Who is willing to call a bottom?

I'd say we going to at least 382.

This downward trend (~6 month) is losing momentum  

These slips get smaller and smaller.  Thinking ~$340 was the bottom now (2 weeks ago).  

The only thing that is being taken down atm is your and other hodlers profits. Bitcoin will exist anyways, high price or low.

This could, like y3804 stated, be insider trading

YOU Fucker!!!!!   I'm so jealous.   

So no news?
Just people trying to take Bitcoin down and the usual idiots following then while losing all their money?

Its the natural bounce, but there is some reasonable support on China for it. nice manipulative dump on Bstamp tho.

Damn China nearly to pre-dump levels. Stamp still going wtf after the wanna-be-dumper.

artificial pump  is there, prepare for shocking dump;)

true, gonna buy a percentage here

2680...

Finex trading under  Huobi's price

I agree.  Frequently, it is best to attempt to buy at the lowest possible amount, and when ALL of the exchanges appear to be going down rapidly, it makes one wonder how far down the price is  going to go.

On the other hand, as you suggested, if you have a little more Fiat to spare, then you may err on the side of investing a little more as the price is going down.. in order to NOT get left behind.  Though since we have been in this price range (fairly recently), in the last couple of weeks, several of us have already bought at around these prices.  I am thinking to buy around $420, now.... though I am NOT very confident that the prices are going to go much lower than that --- currently bouncing off to $433 from $425- but I will save some fiat, just in case we go to $400 or lower.

Huobi pump incoming! already 2659 (from 2619)

Balance Sheet, Income Statement and SoCFlows incoming 

Yeah, the expected wall st boogeyman being dangled out by the bull trolls. That all you got left ?

Btc the supposed anti-govt, anti-corporate money for the little guy needs a wall street bailout. Hilarious.

yeah. damn idiots.

Ok. I've just seen many trolls find dates that "look" similar to the current date in order to pass them off as new news. But if its an accident then no big deal.


Huobi down to $420. BitStamp/Huobi spread reduced from $15 to <$7

I'm pretty pumped.  Timed the sale of a domain name perfectly for this discount!!

yes there will probably be some interesting news soon..