Topic: Wall Observer - China wall movement tracker - page 16. (Read 34624 times)

Forget 100usd or 100 euro
Next stop 1000 cny

.... or 160 dollars

I'm not so sure about this. China CB as been buying gold (massive amounts in the last few years) whereas the US has been selling, and we don't even know that the gold the US claims is in their vaults is really there (they defaulted on Germany's gold last year when delivery was requested.) Gold is not something CBs buy en masse when they are interested in saving their rapidly inflating fiat currency at all costs. In fact China has recently made statements expressing interest in an entirely new currency standard and their gold purchases may be to help back such an endeavour.

Also, bitcoin may be very important for money laundering by high chinese officials. And we know how rampant corruption is over there. (I lol because it's rampant over here too, although it's a bit harder to bribe the zoning board for a ruling exception in the US so maybe it's not as prevalent in the lower levels.) Sure, they could make it illegal for the general populace yet find ways for these officials to launder.... OTOH, with the chinese public participating, price is increasing (and possibly less volatile) which makes it a more efficient vehicle for laundering. Officials may be dragging their feet due to their own [laundering & gambling] self-interest.

I think the chinese goobermint did issue a statement a while back that bitcoin is, in fact, illegal there. They don't seem to be enforcing this, so IDK what that says about its actual legal status...

Also there was that suspicious TV docu on the state channel... they don't just let "big advertisement for bitcoin" air when they are planning on dropping the anvil on it. Something fishy's going on.

Also, while bitcoin could certainly bite the Chinese government and the Yuan, it would bite the USG/USD even harder and we all know how much the chinese wants the US on their knees.

So while they may crack down on bitcoin, it may not be as quickly as we'd expect from a western government, or with the fervour that we'd expect.

Currently, yes. That still doesn't mean they aren't fractional on their BTC side.

I guess china will be the first country to ban bitcoin officially, since Chinese government own their central bank, they don't want another competing currency disturbing their money printing business. But if US government officially support bitcoin, they might just follow

Not sure what you mean but deposit and withdraw requests for both fiat and BTC are timely processed. So they are not trading on paper or having fractional reserve.

And the correlation between China producing ASIC chips and having a fully funded exchange.... ??

Why not? Most ASIC were produced in China

Bids arent even up 50% there, LIAR!

And...do they all believe in magic over there?

You almost wonder, if they have the BTC to back the volume or if all this is trading on paper.

It's a bit paradoxical to see such a hype in China on the 14!  Aren't any numbers with a '4' considered bad luck in China?  (For people who don't know, 'four' sound almost exactly like 'die' or 'death' in Chinese, and hence, considered a bit like or number '13' here!).

the grape wall of china

Bid depth is realy healthy now. Get ready to get 900 CNY destroyed.

Most people are home now. Let the games begin

Guess what caused the dip from 897? Lunch break. No doubts.

You know how the saying goes in china: All your base are belong to us!

It is great to see China playing a larger role in the movement of bitcoin prices.

As Cypher has said, China has led many of Bitcoin's rallies.

I suspect this time is no different. The next 60-90 days will be interesting for price movements and volatility.

And it is still only 2:48 PM in Hong Kong.

Let's see how their evening goes.