Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 30144.

bitdig

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Activity: 208

Merit: 101

I just posted about it few posts above.
Metabank.ru one of the biggest "middle man" already closed..

Quote from: Arvicco on January 27, 2014, 01:28:09 PM

While everyone is busy talking about Charlie Shrem's arrest, no one seems to notice the REAL reason for the market plunge. That is, 3 hours ago Bitcoin was officially banned in Russia. No English language news source yet, but Russian newssites are all abuzz about it: http://bitnovosti.com/2014/01/27/bank-rossii-ozvuchil-poziciyu/

Use Google translate, everything is quite clear. Everything is banned, including mining, exchanges, transfers and payment processing. Each company accepting Bitcoin will be automatically charged with "supporting terrorism".

Russia wins the dubious distinction of the first country in the world to officially ban Bitcoin (unlike earlier Thailand myth).

adamstgBit

legendary

Activity: 1904

Merit: 1037

Trusted Bitcoiner

Quote from: Arvicco on January 27, 2014, 01:28:09 PM

While everyone is busy talking about Charlie Shrem's arrest, no one seems to notice the REAL reason for the market plunge. That is, 3 hours ago Bitcoin was officially banned in Russia. No English language news source yet, but Russian newssites are all abuzz about it: http://bitnovosti.com/2014/01/27/bank-rossii-ozvuchil-poziciyu/

Use Google translate, everything is quite clear. Everything is banned, including mining, exchanges, transfers and payment processing. Each company accepting Bitcoin will be automatically charged with "supporting terrorism".

Russia wins the dubious distinction of the first country in the world to officially ban Bitcoin (unlike earlier Thailand myth).

Holliday

legendary

Activity: 1120

Merit: 1012

Quote from: Arvicco on January 27, 2014, 01:28:09 PM

Russia wins the dubious distinction of the first country in the world to officially ban Bitcoin (unlike earlier Thailand myth).

Good for them! The people get the government they deserve!

Arvicco

hero member

Activity: 574

Merit: 501

Please bear with me

While everyone is busy talking about Charlie Shrem's arrest, no one seems to notice the REAL reason for the market plunge. That is, 3 hours ago Bitcoin was officially banned in Russia. No English language news source yet, but Russian newssites are all abuzz about it: http://bitnovosti.com/2014/01/27/bank-rossii-ozvuchil-poziciyu/

Use Google translate, everything is quite clear. Everything is banned, including mining, exchanges, transfers and payment processing. Each company accepting Bitcoin will be automatically charged with "supporting terrorism".

Russia wins the dubious distinction of the first country in the world to officially ban Bitcoin (unlike earlier Thailand myth).

seleme

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Activity: 2772

Merit: 1028

Duelbits.com

I noticed one lovely pattern. Last 3 crashes and "crashes" happened on a day when I made nice profit trading other crypto stuff so watching the crash or "crash" after making nice gain hours before feels much better and make me much calmer Tongue

MANofthePEOPLE

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Activity: 182

Merit: 100

Quote from: seleme on January 27, 2014, 01:23:16 PM

Quote from: MANofthePEOPLE on January 27, 2014, 01:21:20 PM

Quote from: seleme on January 27, 2014, 01:16:08 PM

Quote from: MANofthePEOPLE on January 27, 2014, 01:13:46 PM

it's not easy being the worst trader since the beginning of time.. panic sold at 761 and panic bought back at 775 Cheesy

If that would make you feel slightly better, I don't consider myself worst trader ever but I still do such stuff pretty regularly Cheesy

haha I have an amazing track record though.. almost every time I sell in the dips I manage to do it at the lowest point. Should just sit on them but not as fun and expensive. Everyone knows it costs money to have a good time

Try not selling all your coins at once, that's most common mistake.

If you sell small part only and price continue to go down you can sell more on the way down. If it goes up, you won't have too much to buy and lose.

Selling and buying all at once is never good thing.

Alright thanks, I'll try that!

ShroomsKit

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Activity: 672

Merit: 500

Quote from: extee on January 27, 2014, 01:23:50 PM

the ones that sold looked more like whales than sheeps.....and they are still selling....

As always a few whales sell and make money buying back at the right time. The other 90% are small fish who lose coins. Because they are always too late.

electronistul

full member

Activity: 160

Merit: 100

Allrite, is that about it ? can I go eat my dinner now ?

Bitdig, I think your news above was already factored-in in the rally that just ended.

bitdig

full member

Activity: 208

Merit: 101

lets see who starts the selling first.. when it comes to news like BBC:
http://translate.google.com/translate?sl=auto&tl=en&js=n&prev=_t&hl=en&ie=UTF-8&u=http%3A%2F%2Fcbr.ru%2Fpress%2FPR.aspx%3Ffile%3D27012014_1825052.htm

Bitcoin is officially illegal in Russia!

billyjoeallen

legendary

Activity: 1106

Merit: 1007

Hide your women

dammit, somebody got my cheap coins. You take one morning off...

seleme

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Activity: 2772

Merit: 1028

Duelbits.com

Quote from: extee on January 27, 2014, 01:23:50 PM

the ones that sold looked more like whales than sheeps.....and they are still selling....

Whales sold at top, that's how they became whales Grin

klee

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Activity: 1498

Merit: 1000

Quote from: extee on January 27, 2014, 01:23:50 PM

the ones that sold looked more like whales than sheeps.....and they are still selling....

hehe

extee

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Activity: 171

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the ones that sold looked more like whales than sheeps.....and they are still selling....

seleme

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Activity: 2772

Merit: 1028

Duelbits.com

Quote from: MANofthePEOPLE on January 27, 2014, 01:21:20 PM

Quote from: seleme on January 27, 2014, 01:16:08 PM

Quote from: MANofthePEOPLE on January 27, 2014, 01:13:46 PM

it's not easy being the worst trader since the beginning of time.. panic sold at 761 and panic bought back at 775 Cheesy

If that would make you feel slightly better, I don't consider myself worst trader ever but I still do such stuff pretty regularly Cheesy

haha I have an amazing track record though.. almost every time I sell in the dips I manage to do it at the lowest point. Should just sit on them but not as fun and expensive. Everyone knows it costs money to have a good time

Try not selling all your coins at once, that's most common mistake.

If you sell small part only and price continue to go down you can sell more on the way down. If it goes up, you won't have too much to buy and lose.

Selling and buying all at once is never good thing.

MonadTran

full member

Activity: 181

Merit: 100

Quote from: seleme on January 27, 2014, 01:14:55 PM

But maybe they have that proof and are not stupid to do it without it. I don't know guy, so I certainly won't take his corner just like that.

Even if they have the proof, the charges boil down to him buying a piece of vegetation, and maybe trading with people who trade with people who sell pieces of vegetation. It's not a valid reason to put a person into a cage. He's not accused of murder, or theft, or rape. He's accused of trading with the wrong people. Meanwhile, some of the banks are known to have been involved in the same activities, at a larger scale, and all it ended up was a fine (they essentially took some of their bailout money back). The charges are both unjust in and of itself, and biased/disproportional, compared to other such cases.

ShroomsKit

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Activity: 672

Merit: 500

Quote from: MANofthePEOPLE on January 27, 2014, 01:13:46 PM

it's not easy being the worst trader since the beginning of time.. panic sold at 761 and panic bought back at 775 Cheesy

Like 90% of the sheep that just panic sold. They will never learn.

MANofthePEOPLE

full member

Activity: 182

Merit: 100

Quote from: seleme on January 27, 2014, 01:16:08 PM

Quote from: MANofthePEOPLE on January 27, 2014, 01:13:46 PM

it's not easy being the worst trader since the beginning of time.. panic sold at 761 and panic bought back at 775 Cheesy

If that would make you feel slightly better, I don't consider myself worst trader ever but I still do such stuff pretty regularly Cheesy

haha I have an amazing track record though.. almost every time I sell in the dips I manage to do it at the lowest point. Should just sit on them but not as fun and expensive. Everyone knows it costs money to have a good time

Holliday

legendary

Activity: 1120

Merit: 1012

Quote from: magicmexican on January 27, 2014, 01:20:06 PM

Bears are certainly much more deluded. Every crash is "the end".

They don't really believe that. They are trying to frighten coins out of weak hands...

magicmexican

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Activity: 812

Merit: 1000

Bears are certainly much more deluded. Every crash is "the end".

Holliday

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Activity: 1120

Merit: 1012

Quote from: JorgeStolfi on January 27, 2014, 01:17:07 PM

Quote from: magicmexican on January 27, 2014, 01:06:40 PM

Kinda funny to see all exchanges act so different. Stamp/btc-e dumping, hyubi not really giving a fuck, and Gox is just sitting near that 1k mark like a kid with autism

Can we conclude that this sudden crash to ~750 in the Western exchanges was due to the news of Shrem's arrest?

Huobi was in the middle of a downtrend with occasional hiccups, but clearly it did not start that crash; and it reacted only slightly to it, presumably because of arbitrage trading.

It will be some time before the news of Shrem's arrest are translated and reported in Chinese media -- if they are at all. Until this morning I had never heard of the guy, and presumably he and the Bitcoin Foundation are totally unnown in China. So perhaps the Chinese markets will just ignore the incident.

Shrem or the Russian Central Bank? Probably both.

I doubt the Chinese will care.

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