Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 28065.

JayJuanGee

legendary

Activity: 3962

Merit: 11519

Self-Custody is a right. Say no to"Non-custodial"

Quote from: TERA on April 25, 2014, 07:31:12 PM

Quote from: JayJuanGee on April 25, 2014, 07:24:54 PM

Quote from: TERA on April 25, 2014, 06:31:11 PM

No this is actually NEW China news this time: They want to take down recharge codes and other deposit options, and before it was just bank transfers. For the first time, the situation is actually significantly worse now than it was in was in December. For a while we thought that Chinese exchanges would be able to continue doing volume by using alternative payment methods but now it is turning into a complete cut-off. I bet btcchina's ATMs will be taken down.

Your rendition of what is going on in China does NOT make very much sense- especially considering the extent to which bitcoin mining businesses are operating out of china, as well.

China is going to be o.k. with the various bitcoin mining operations - whther related to the manufacturing of equipment and the actual mining itself? Just seems contradictory and illogical.

Also, isn't there a little irony in the supposed May 10 date, which happens to coincide with the Global Bitcoin summit in Shanghai.... All seems kind of weird.

Not sure how this is relevant. Yeah PBOC might not care about the mining operations. If you look at the news story, most of what the central banker expresses concerns about is the rampant market manipulation on chinese exchanges. He states how China's entry into bitcoin was inorganic and had nothing to do with bitcoin adoption or development. He describes how Chinese bitcoin trading is a battle between "makers" and is a "bloodbath" for the normal investor which gets destroyed as collateral damage. I have to agree with him there and appreciate what he is doing. So their main focus is to take down any kind of exchanges which do significant volume, to protect every day investors. If bitcoin was truly adopted then it wouldn't need these types of exchanges - it's all a game.

There seems to be a bit of a contradiction, but we will see how it plays out, and surely, I am NOT completely surprised by contradiction(s) that may exist.

billyjoeallen

legendary

Activity: 1106

Merit: 1007

Hide your women

The only people buying now are people who sold higher. Look at the volume. Volume tells the story. We are very likely just at a consolidation stage on a trip back down. Don't get caught on the wrong side of the is/ought divide. China matters until it doesn't. Just because prices are stupid low doesn't mean they can't get stupider lower. Markets can stay irrational longer than you can stay solvent if you don't manage your capital wisely.

There are silver linings. The good news is that the FBI will probably not get much for their coins. When the Chinese people will discover in a year or two from now how badly the PBoC and their government screwed them out of a leadership roll in crypto, it may do more to foment revolution than Tienanmen Square.

Be smart. Be patient, and be in a position to scoop up bargains should they materialize.

wachtwoord

legendary

Activity: 2324

Merit: 1125

Quote from: windjc on April 25, 2014, 07:31:05 PM

The terrifying thing right now is that the only reason Houbi isn't dumping is there is no bid depth. There is NOTHING to sell into.

Why is that terrifying? Do you have BTC stuck at Houbi you need to sell?

TERA

hero member

Activity: 728

Merit: 500

Quote from: JayJuanGee on April 25, 2014, 07:24:54 PM

Quote from: TERA on April 25, 2014, 06:31:11 PM

No this is actually NEW China news this time: They want to take down recharge codes and other deposit options, and before it was just bank transfers. For the first time, the situation is actually significantly worse now than it was in was in December. For a while we thought that Chinese exchanges would be able to continue doing volume by using alternative payment methods but now it is turning into a complete cut-off. I bet btcchina's ATMs will be taken down.

Your rendition of what is going on in China does NOT make very much sense- especially considering the extent to which bitcoin mining businesses are operating out of china, as well.

China is going to be o.k. with the various bitcoin mining operations - whther related to the manufacturing of equipment and the actual mining itself? Just seems contradictory and illogical.

Also, isn't there a little irony in the supposed May 10 date, which happens to coincide with the Global Bitcoin summit in Shanghai.... All seems kind of weird.

Not sure how this is relevant. Yeah PBOC might not care about the mining operations. If you look at the news story, most of what the central banker expresses concerns about is the rampant market manipulation on chinese exchanges. He states how China's entry into bitcoin was inorganic and had nothing to do with bitcoin adoption or development. He describes how Chinese bitcoin trading is a battle between "makers" and is a "bloodbath" for the normal investor which gets destroyed as collateral damage. I have to agree with him there and appreciate what he is doing. So their main focus is to take down any kind of exchanges which do significant volume, to protect every day investors. If bitcoin was truly adopted then it wouldn't need these types of exchanges - it's all a game.

windjc

legendary

Activity: 2156

Merit: 1070

The terrifying thing right now is that the only reason Houbi isn't dumping is there is no bid depth. There is NOTHING to sell into.

JayJuanGee

legendary

Activity: 3962

Merit: 11519

Self-Custody is a right. Say no to"Non-custodial"

Quote from: TERA on April 25, 2014, 06:31:11 PM

No this is actually NEW China news this time: They want to take down recharge codes and other deposit options, and before it was just bank transfers. For the first time, the situation is actually significantly worse now than it was in was in December. For a while we thought that Chinese exchanges would be able to continue doing volume by using alternative payment methods but now it is turning into a complete cut-off. I bet btcchina's ATMs will be taken down.

Your rendition of what is going on in China does NOT make very much sense- especially considering the extent to which bitcoin mining businesses are operating out of china, as well.

China is going to be o.k. with the various bitcoin mining operations - whther related to the manufacturing of equipment and the actual mining itself? Just seems contradictory and illogical.

Also, isn't there a little irony in the supposed May 10 date, which happens to coincide with the Global Bitcoin summit in Shanghai.... All seems kind of weird.

ShroomsKit

hero member

Activity: 672

Merit: 500

Quote from: shmadz on April 25, 2014, 07:05:28 PM

here's a question for you guys.

if china had never even let those exchanges start up in the first place, would the price be higher today? or lower?

What makes you think anybody here can answer that. Take a guess. It's the only thing you can do.

JorgeStolfi

hero member

Activity: 910

Merit: 1003

Quote from: lemonte on April 25, 2014, 06:09:12 PM

What date is this deadline? Need to make sure to pop it in my calendar. Might as well set it as a reoccurring entry these days!

There seems to be a May 10th deadline, not sure for what exactly:

Quote

某大型商业银行人士也向记者证实了央行的上述要求，并指出，在派员参加约谈之前，该行已经进行了全面排查，确认自身没有违规问题，但从约谈后央行提供的帐户信息看，该银行有多个地区的分行违规开立了帐户。“违规的情况令人震惊，央行掌握的帐户信息比我们自己还清楚，央行的决心也比我们预想的要大得多。”该人士表示。

Central bank asked all commercial banks and third-party payment agencies before May 10 , " Beijing Bitcoin International Summit" held to convey to the public that it no longer provides financial services to any Bitcoin transaction attitudes guide people away from Bitcoin transactions.

JayJuanGee

legendary

Activity: 3962

Merit: 11519

Self-Custody is a right. Say no to"Non-custodial"

Quote from: kryptopojken on April 25, 2014, 06:03:33 PM

risto are you the one buying?

I suspect he is NOT buying at any point above $370 - just speculation on my part.

But Risto is NOT going to disclose, exactly what is his buy point... which is fine. NO problem with that.

adamstgBit

legendary

Activity: 1904

Merit: 1038

Trusted Bitcoiner

Quote from: shmadz on April 25, 2014, 07:05:28 PM

here's a question for you guys.

if china had never even let those exchanges start up in the first place, would the price be higher today? or lower?

its hard to say.

that in of it itself says something Wink

shmadz

legendary

Activity: 1512

Merit: 1000

@theshmadz

here's a question for you guys.

if china had never even let those exchanges start up in the first place, would the price be higher today? or lower?

ChartBuddy

legendary

Activity: 2380

Merit: 1823

1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

Explanation

adamstgBit

legendary

Activity: 1904

Merit: 1038

Trusted Bitcoiner

oh well its gonna be very hard to buy in china... didnt see that one coming form a mile away.

TERA

hero member

Activity: 728

Merit: 500

No this is actually NEW China news this time: They want to take down recharge codes and other deposit options, and before it was just bank transfers. For the first time, the situation is actually significantly worse now than it was in was in December. For a while we thought that Chinese exchanges would be able to continue doing volume by using alternative payment methods but now it is turning into a complete cut-off. I bet btcchina's ATMs will be taken down.

adamstgBit

legendary

Activity: 1904

Merit: 1038

Trusted Bitcoiner

Quote from: isov on April 25, 2014, 06:16:49 PM

Quote from: adamstgBit on April 25, 2014, 06:14:15 PM

Quote from: lemonte on April 25, 2014, 06:09:12 PM

Quote from: nidhogg1 on April 25, 2014, 06:02:03 PM

Quote from: Tyson95 on April 25, 2014, 02:52:49 PM

Why would there not be a round the clock liquidation on Huobi if this is the end for the Chinese?

Because that would drive the price down too far and result in loss for the sellers. Its much better to dump little by little and let the market re-stabilize inbetween. There is no hurry so far the deadline is still some days away

What date is this deadline? Need to make sure to pop it in my calendar. Might as well set it as a reoccurring entry these days!

lol

What is this. like fucking fourth deadline by China already?? C'mon guys lets not do this anymore. You know the saying: "Fool me once, shame on you. Fool me twice, shame on me."

china news wes totally FUDed to no end

the deadline was completely made up

to me it looks like china gov is simply throwing a lot of regulation around bitcoin... I can see them forcing exchange to hong kong, but they probably realize thats kinda pointless and thats why they are content with tight regulation. but what do i know.

dreamspark

hero member

Activity: 798

Merit: 1000

What happens if theres literally no money left on Huobi, will they let the price fall to double digits or would they halt trading?

isov

full member

Activity: 155

Merit: 100

Quote from: adamstgBit on April 25, 2014, 06:14:15 PM

Quote from: lemonte on April 25, 2014, 06:09:12 PM

Quote from: nidhogg1 on April 25, 2014, 06:02:03 PM

Quote from: Tyson95 on April 25, 2014, 02:52:49 PM

Why would there not be a round the clock liquidation on Huobi if this is the end for the Chinese?

Because that would drive the price down too far and result in loss for the sellers. Its much better to dump little by little and let the market re-stabilize inbetween. There is no hurry so far the deadline is still some days away

What date is this deadline? Need to make sure to pop it in my calendar. Might as well set it as a reoccurring entry these days!

lol

What is this. like fucking fourth deadline by China already?? C'mon guys lets not do this anymore. You know the saying: "Fool me once, shame on you. Fool me twice, shame on me."

bitdig

full member

Activity: 208

Merit: 101

Sleep well, it might take a month or even two Wink

Quote from: roslinpl on April 25, 2014, 06:02:15 PM

Quote from: ChartBuddy on April 25, 2014, 06:00:58 PM

Explanation

It is here and it is ~alright

I am going to sleep so I want to wake up @800. Wink

Good nite

adamstgBit

legendary

Activity: 1904

Merit: 1038

Trusted Bitcoiner

Quote from: lemonte on April 25, 2014, 06:09:12 PM

Quote from: nidhogg1 on April 25, 2014, 06:02:03 PM

Quote from: Tyson95 on April 25, 2014, 02:52:49 PM

Why would there not be a round the clock liquidation on Huobi if this is the end for the Chinese?

Because that would drive the price down too far and result in loss for the sellers. Its much better to dump little by little and let the market re-stabilize inbetween. There is no hurry so far the deadline is still some days away

What date is this deadline? Need to make sure to pop it in my calendar. Might as well set it as a reoccurring entry these days!

lol

lemonte

hero member

Activity: 624

Merit: 502

Quote from: nidhogg1 on April 25, 2014, 06:02:03 PM

Quote from: Tyson95 on April 25, 2014, 02:52:49 PM

Why would there not be a round the clock liquidation on Huobi if this is the end for the Chinese?

Because that would drive the price down too far and result in loss for the sellers. Its much better to dump little by little and let the market re-stabilize inbetween. There is no hurry so far the deadline is still some days away

What date is this deadline? Need to make sure to pop it in my calendar. Might as well set it as a reoccurring entry these days!

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 28065. (Read 26720782 times)