Topic: Wall Observer - China wall movement tracker - page 15. (Read 34624 times)
Many times I saw 888.88
BTW, the BTCC has just touched 890. When will be break 900?
I'd like to see it fluctuate around 888 for a few days, as a sign from the gods that they approve of the Baidu decision
LOL
Ha ha, brilliant! But I forgot the decimal point, some kind soul on the Chinese exchange should get the ticker to print 888.88888888 exactly, it would be the icing on the cake for today's news.
BTW, the BTCC has just touched 890. When will be break 900?
I'd like to see it fluctuate around 888 for a few days, as a sign from the gods that they approve of the Baidu decision
LOL
China is smart here, I think they're getting in early still.
BTW, the BTCC has just touched 890. When will be break 900?
I'd like to see it fluctuate around 888 for a few days, as a sign from the gods that they approve of the Baidu decision
True, but one has to give it time, and the PR value by itself is probably non-trivial in terms of getting other companies to take the plunge in the future. Most people are trend followers and and not trend setters, and thus only adopt ideas after they've been vetted by larger third parties. That piece of the puzzle is now in place, this is the Chinese equivalent of the Wordpress announcement, not a big deal in terms of transaction volume but perhaps a big milestone on the road to becoming mainstream.
+1. The transaction volume is expected to be LOW. Obviously they are using this to promote their latest branded service. But that's win-win.
BTW, the BTCC has just touched 890. When will be break 900?
Breaking news: Baidu (NASDAQ:BIDU) accepts BITCOIN!
https://bitcointalksearch.org/topic/breaking-news-baidu-nasdaqbidu-accepts-bitcoin-310962
a whole 0.0008543 BTC so far
True, but one has to give it time, and the PR value by itself is probably non-trivial in terms of getting other companies to take the plunge in the future. Most people are trend followers and and not trend setters, and thus only adopt ideas after they've been vetted by larger third parties. That piece of the puzzle is now in place, this is the Chinese equivalent of the Wordpress announcement, not a big deal in terms of transaction volume but perhaps a big milestone on the road to becoming mainstream.
Given the context, seems appropriate to quote a wise Chinese philosopher:
Quote from: Laozi
a journey of a thousand miles begins with a single step
(even though I doubt they used British distance units in 600BC China...)
That's Chinese mile, not British mile
https://en.wikipedia.org/wiki/Li_(unit) Breaking news: Baidu (NASDAQ:BIDU) accepts BITCOIN!
https://bitcointalksearch.org/topic/breaking-news-baidu-nasdaqbidu-accepts-bitcoin-310962
a whole 0.0008543 BTC so far
True, but one has to give it time, and the PR value by itself is probably non-trivial in terms of getting other companies to take the plunge in the future. Most people are trend followers and and not trend setters, and thus only adopt ideas after they've been vetted by larger third parties. That piece of the puzzle is now in place, this is the Chinese equivalent of the Wordpress announcement, not a big deal in terms of transaction volume but perhaps a big milestone on the road to becoming mainstream.
Given the context, seems appropriate to quote a wise Chinese philosopher:
Quote from: Laozi
a journey of a thousand miles begins with a single step
(even though I doubt they used British distance units in 600BC China...)
minimum 0.0008544
Breaking news: Baidu (NASDAQ:BIDU) accepts BITCOIN!
https://bitcointalksearch.org/topic/breaking-news-baidu-nasdaqbidu-accepts-bitcoin-310962
a whole 0.0008543 BTC so far
Breaking news: Baidu (NASDAQ:BIDU) accepts BITCOIN!
https://bitcointalksearch.org/topic/breaking-news-baidu-nasdaqbidu-accepts-bitcoin-310962
With no fees, how are the exchanges earning money?
We'll find out once one or two close up shop and keep he BTC.The Chinese exchanges take a percentage of deposits and withdrawals instead of transactions. This is why their volume seems to be skyrocketing, as you can buy/sell for free. (I suspect most of the volume is artificial)
When did the chinese govt state that bitcoin was illegal there? I don't recall reading that...
That's a good question; It's just something I recall reading here a couple months ago when there was all the china hype. The gov made a statement to the effect that it was illegal, and the poster used that to support the conclusion of "See? All this china hype nonsense won't effect the price at all." You may be remembering their crackdown on "Q Coin", which was a digital currency for paying cell phone bills. It started to take off in China as a peer to peer payment system (since most people could use it to pay their bills), and the government halted it. I believe the comparison has been made in terms of how they would handle bitcoin.
Why do they structure it in that way? It seems like it'd just encourage a huge amount of spread plays and actually discourage people from depositing large amounts, instead rewarding huge resource hogs and a gigantic amount of extremely small spread plays.
Unable to break 900. Resistance building.
With no fees, how are the exchanges earning money?
We'll find out once one or two close up shop and keep he BTC.The Chinese exchanges take a percentage of deposits and withdrawals instead of transactions. This is why their volume seems to be skyrocketing, as you can buy/sell for free. (I suspect most of the volume is artificial)
When did the chinese govt state that bitcoin was illegal there? I don't recall reading that...
That's a good question; It's just something I recall reading here a couple months ago when there was all the china hype. The gov made a statement to the effect that it was illegal, and the poster used that to support the conclusion of "See? All this china hype nonsense won't effect the price at all." You may be remembering their crackdown on "Q Coin", which was a digital currency for paying cell phone bills. It started to take off in China as a peer to peer payment system (since most people could use it to pay their bills), and the government halted it. I believe the comparison has been made in terms of how they would handle bitcoin.
From what i remember there was a documentary on public china tv that was a big hit, and it was promoting bitcoin overall, not saying it was illegal. no FUD please.
It's crazy how quick China can change things. I guess when you have 1.4 billion people...
Are there any Chinese on Bitcointalk (or Chinese speakers) who can provide insight into what's going on?
Are there any Chinese on Bitcointalk (or Chinese speakers) who can provide insight into what's going on?
I'm in Hong Kong and trading bitcoin on many different platforms, both Chinese and Western
The volume spike in China is related to these reasons:
1. There is an ongoing price war in Chinese markets. Many platforms, including btcchina, the biggest and oldest one, have zero trading fee. Therefore it is a bit unfair to compare their volume with other Western markets.
...
With no fees, how are the exchanges earning money?
Probably you misremember Thailand in place of China... lets not start rumors which become FUD. China has been silent WRT bitcoin.
https://moneero.com/web/blog/post/bitcoin-is-not-illegal-in-thailand
https://moneero.com/web/blog/post/bitcoin-is-not-illegal-in-thailand
When did the chinese govt state that bitcoin was illegal there? I don't recall reading that...
That's a good question; It's just something I recall reading here a couple months ago when there was all the china hype. The gov made a statement to the effect that it was illegal, and the poster used that to support the conclusion of "See? All this china hype nonsense won't effect the price at all."
Of course now we see China driving the price so whether or not the gov actually said that is irrelevant since if they did say it, they aren't acting on it and if they didn't, it doesn't matter.
aaaannnddddd good morning China!!
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