rpietila's troll agency working over time.
get ready for some cheap whale coins.
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 31065. (Read 26713597 times)
December 16, 2013, 06:38:23 AM
December 16, 2013, 06:37:50 AM
you should also remember mtgox, what will happen when you cant withdraw money from exchange eh? Sounds familiar?
According to that 'fud' news chinese investors will have till spring festival to withdraw their funds from the exchanges, from what i can decrypt on google translate. So it won't be similar panic buy if ever this news is confirmed..
So what would this mean? No more chinese investors?
Is that worse case scenario?
Because I don't think that's such a horrible thing. Always seemed short lived to me.
I'm not really sure it will be much of a big deal except for this initial scare and sentiment.
If true, it probably means no more institutional investors from within China. But meh.. big institutions do work with foreign banks. They can find a way if they want.
And the same goes for regular people. There is a black market for USD. There will be a black market for BTC.
So.. basically.. just sentiment. Those who wanna get BTC will find ways.
Selling is not a problem either. Big guys sell in foreign markets. For small guys, there will be local demand (in LocalBitcoin style).
This is basically how Argentina works.
December 16, 2013, 06:34:12 AM
Even if China says 'take money out of exchanges by Spring'.
The result may be the opposite - if they don't want to declare the cash, they will need to buy coins to put get funds OUT from China.
Why are the Chinese in BTC anyway? Isn't it to get out of Chinese currency (to a certain extent).
The result may be the opposite - if they don't want to declare the cash, they will need to buy coins to put get funds OUT from China.
Why are the Chinese in BTC anyway? Isn't it to get out of Chinese currency (to a certain extent).
December 16, 2013, 06:30:19 AM
you should also remember mtgox, what will happen when you cant withdraw money from exchange eh? Sounds familiar?
According to that 'fud' news chinese investors will have till spring festival to withdraw their funds from the exchanges, from what i can decrypt on google translate. So it won't be similar panic buy if ever this news is confirmed..
If only they had come way of digitally transferring money out - like a sort of 'internet coin' - someone should invent one
December 16, 2013, 06:30:07 AM
you should also remember mtgox, what will happen when you cant withdraw money from exchange eh? Sounds familiar?
According to that 'fud' news chinese investors will have till spring festival to withdraw their funds from the exchanges, from what i can decrypt on google translate. So it won't be similar panic buy if ever this news is confirmed..
So what would this mean? No more chinese investors?
Is that worse case scenario?
Because I don't think that's such a horrible thing. Always seemed short lived to me.
December 16, 2013, 06:30:01 AM
you should also remember mtgox, what will happen when you cant withdraw money from exchange eh? Sounds familiar?
what happened? I wasn't around for that drama...
people will be buying bitcoins as it would be the only way to exit exchange.
December 16, 2013, 06:29:21 AM
you should also remember mtgox, what will happen when you cant withdraw money from exchange eh? Sounds familiar?
According to that 'fud' news chinese investors will have till spring festival to withdraw their funds from the exchanges, from what i can decrypt on google translate. So it won't be similar panic buy if ever this news is confirmed..
December 16, 2013, 06:25:06 AM
you should also remember mtgox, what will happen when you cant withdraw money from exchange eh? Sounds familiar?
According to that 'fud' news chinese investors will have till spring festival to withdraw their funds from the exchanges, from what i can decrypt on google translate. So it won't be similar panic buy if ever this news is confirmed..
December 16, 2013, 06:23:54 AM
It was just FUD attempt to cause same kind of panic that made a crash on December 7th.
How do you know it is FUD news? How could FUD news cause a 4000 coin wall to come down at 5000CNY? Is that whale really that stupid?
Simple - a little panic.
China has been drifting down from its recent high steadily since the government's hint that BTC was a little risky.
The mid-term EMA changed up a little yesterday, but the market (with a large crowd in it) is still skittish.
Today a little nudge down, gox looks iffy too - then a panic.
But that is all. 5000 CNY didn't look like holding yesterday - for hours it was 50 over it - I was surprised it held then. When it did, things popped up a bit.
But it was still only a little tip to break it (sentiment-wise).
And so here we are - back a few hours price-wise on most exchanges.
No big deal. I only managed to get one cheap coin too.
Bears aren't what they used to be, eh?
December 16, 2013, 06:23:11 AM
can anyone translate the chinese stuff?
edit: it may be related to the chinese dump. is it?
Dont know if statement is real but it gives a deadline to cash out your BTC to cash until Chinese new year (January 31).
December 16, 2013, 06:22:30 AM
It was just FUD attempt to cause same kind of panic that made a crash on December 7th.
How do you know it is FUD news? How could FUD news cause a 4000 coin wall to come down at 5000CNY? Is that whale really that stupid?
Simple - a little panic.
China has been drifting down from its recent high steadily since the government's hint that BTC was a little risky.
The mid-term EMA changed up a little yesterday, but the market (with a large crowd in it) is still skittish.
Today a little nudge down, gox looks too - then a panic.
But that is all. 5000 CNY didn't look like holding yesterday - for hours it was 50 over it - I was surprised it held then. When it did, things popped up a bit.
But it was still only a little tip to break it (sentiment-wise).
And so here we are - back a few hours price-wise on most exchanges.
No big deal. I only managed to get one cheap coin too.
Bears aren't what they used to be, eh?
December 16, 2013, 06:22:13 AM
if this is a manipulation to get prices down, why is this forum still online ? why are bitcoinity and all the other charts not down ? strange pattern...
December 16, 2013, 06:21:57 AM
IMHO, most likely that's a false news.
No bank and payment services for exchanges simply means killing all exchanges, then it makes the previous official announcement (allow people trading BTC as virtual commodity and add more regulation to existing exchanges) a joke.
More likely the original version of the news is just reiterating that banks and payment institutions cannot use BTC in their accounting, and someone spread the false version for their own interest.
No bank and payment services for exchanges simply means killing all exchanges, then it makes the previous official announcement (allow people trading BTC as virtual commodity and add more regulation to existing exchanges) a joke.
More likely the original version of the news is just reiterating that banks and payment institutions cannot use BTC in their accounting, and someone spread the false version for their own interest.
Nonetheless, to be honest, BTCChina did remove the TenPay option and now all payment and withdraws are through yeepay, another much smaller 3rd party payment service. Keep an eye on it and to see what will really happen in the China.
China is notorious for inside trading.... Based on their stock exchanges.
I'm not surprised if there is something up at the meeting.
December 16, 2013, 06:20:42 AM
IMHO, most likely that's a false news.
No bank and payment services for exchanges simply means killing all exchanges, then it makes the previous official announcement (allow people trading BTC as virtual commodity and add more regulation to existing exchanges) a joke.
More likely the original version of the news is just reiterating that banks and payment institutions cannot use BTC in their accounting, and someone spread the false version for their own interest.
No bank and payment services for exchanges simply means killing all exchanges, then it makes the previous official announcement (allow people trading BTC as virtual commodity and add more regulation to existing exchanges) a joke.
More likely the original version of the news is just reiterating that banks and payment institutions cannot use BTC in their accounting, and someone spread the false version for their own interest.
Nonetheless, to be honest, BTCChina did remove the TenPay option and now all payment and withdraws are through yeepay, another much smaller 3rd party payment service. Keep an eye on it and to see what will really happen in China.
December 16, 2013, 06:20:31 AM
you should also remember mtgox, what will happen when you cant withdraw money from exchange eh? Sounds familiar?
what happened? I wasn't around for that drama...
December 16, 2013, 06:20:01 AM
From reddit
Obviously the whales did the dump actually understand whats going on first b4 anyone.
Quote
PCBC called all major 3rd party payment processor and banks for a meeting this afternoon. Insider said PCBC has ordered these payment processors and local banks to seize business with bitcoin/litecoin exchanges. cause a major panic in the chinese market.
Obviously the whales did the dump actually understand whats going on first b4 anyone.
December 16, 2013, 06:18:44 AM
you should also remember mtgox, what will happen when you cant withdraw money from exchange eh? Sounds familiar?
December 16, 2013, 06:17:18 AM
It was just FUD attempt to cause same kind of panic that made a crash on December 7th.
How do you know it is FUD news? How could FUD news cause a 4000 coin wall to come down at 5000CNY? Is that whale really that stupid?
Simple, if it wasn't FUD it would go down twice as faster as it was when first China's government news came out. It's worse news than initial one.
Whales wanted to take an opportunity by initiating panic, it didn't happen. Shit happens.
Whales are not stupid....,
its clearly inside trading.
December 16, 2013, 06:16:45 AM
It was just FUD attempt to cause same kind of panic that made a crash on December 7th.
How do you know it is FUD news? How could FUD news cause a 4000 coin wall to come down at 5000CNY? Is that whale really that stupid?
Simple, if it wasn't FUD it would go down twice as faster as it was when first China's government news came out. It's worse news than initial one.
Whales wanted to take an opportunity by initiating panic, it didn't happen. Shit happens.
ofc in china you can trade with yourself so that doesn't mean much
December 16, 2013, 06:12:23 AM
It was just FUD attempt to cause same kind of panic that made a crash on December 7th.
How do you know it is FUD news? How could FUD news cause a 4000 coin wall to come down at 5000CNY? Is that whale really that stupid?
Simple, if it wasn't FUD it would go down twice as faster as it was when first China's government news came out. It's worse news than initial one.
Whales wanted to take an opportunity by initiating panic, it didn't happen. Shit happens.
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