Topic: What sort of effect to expect on price w/ China news? - page 2. (Read 3153 times)
ya millions of people learning about bitcoins.... ya that will have zero effect on the price .... not a damn thing will change!!!
Chinese are buying up gold like mad so gold is getting scarce. You can get it at $1450 but you won't get any. Seems only rational that some are looking at alternatives.
I'm looking at my gold dealer's site right now. I don't see any of what I typically buy sold out. What are you referring to exactly? 
It's also easy to believe that a few thousand people dled the client because they thought they could somehow just generate money with their computers. The bitcoin subreddit gets a bunch of posts by people who've just heard about bitcoins and now they want to mine some with their laptops.
Agreed. This is what initially came to mind for me as well. People just thinking easy money: run my computer.This post just popped up on reddt. http://www.reddit.com/r/Bitcoin/comments/1dqs42/is_it_worth_it_to_bitcoin_mine/
That's exactly what I'm talking about.
Seems the right question for a nb to ask. Can't see anything wrong with that. Certainly not an indicator that the TV show has no effect whatsoever.
Chinese are buying up gold like mad so gold is getting scarce. You can get it at $1450 but you won't get any. Seems only rational that some are looking at alternatives.
It's also easy to believe that a few thousand people dled the client because they thought they could somehow just generate money with their computers. The bitcoin subreddit gets a bunch of posts by people who've just heard about bitcoins and now they want to mine some with their laptops.
Agreed. This is what initially came to mind for me as well. People just thinking easy money: run my computer.This post just popped up on reddt. http://www.reddit.com/r/Bitcoin/comments/1dqs42/is_it_worth_it_to_bitcoin_mine/
That's exactly what I'm talking about.
It's also easy to believe that a few thousand people dled the client because they thought they could somehow just generate money with their computers. The bitcoin subreddit gets a bunch of posts by people who've just heard about bitcoins and now they want to mine some with their laptops.
Agreed. This is what initially came to mind for me as well. People just thinking easy money: run my computer. Effect? The writing is on the wall: http://sourceforge.net/projects/bitcoin/files/stats/map?dates=2013-05-04
Yea, I have a hard time wrapping my mind around this, but it happened.
Yea, I have a hard time wrapping my mind around this, but it happened.
There is not so hard make a bot downloading any software.
Exactly.
There's no captcha at Sourceforge.
There's two kinds of market manipulation: financial, and psychological. 23k downloads one day - 1.5k the previous day? Off of one TV show? I know there's a lot of people in China, and I know they get seroiusly into their money... but still...
Ockham's Razor. It's much easier to believe somebody is trying to manipulate market sentiment with a download bot. Really it is.
It's also easy to believe that a few thousand people dled the client because they thought they could somehow just generate money with their computers. The bitcoin subreddit gets a bunch of posts by people who've just heard about bitcoins and now they want to mine some with their laptops.
You guys...
I should buy thousands of tinfoil hats.
I should buy thousands of tinfoil hats.
Effect? The writing is on the wall: http://sourceforge.net/projects/bitcoin/files/stats/map?dates=2013-05-04
Yea, I have a hard time wrapping my mind around this, but it happened.
Yea, I have a hard time wrapping my mind around this, but it happened.
There is not so hard make a bot downloading any software.
Exactly.
There's no captcha at Sourceforge.
There's two kinds of market manipulation: financial, and psychological. 23k downloads one day - 1.5k the previous day? Off of one TV show? I know there's a lot of people in China, and I know they get seroiusly into their money... but still...
Ockham's Razor. It's much easier to believe somebody is trying to manipulate market sentiment with a download bot. Really it is.
Effect? The writing is on the wall: http://sourceforge.net/projects/bitcoin/files/stats/map?dates=2013-05-04
Yea, I have a hard time wrapping my mind around this, but it happened.
Yea, I have a hard time wrapping my mind around this, but it happened.
There is not so hard make a bot downloading any software.
Something interesting to note: In the video, when showing graphs, they only showed the rise to 250, not the crash. That would hint they want people to invest
I think later on in the program they mentioned it fell down to a low of 50 in April. Plus that blurb at the end seems very cautionary. However almost everything up until the final 1 to 2 minutes was very fair to Bitcoins and even pro-Bitcoins at some point (which made up the massive bulk of the show).
Something interesting to note: In the video, when showing graphs, they only showed the rise to 250, not the crash. That would hint they want people to invest
I'll believe the hype when I see btcchina volume budge even slightly. Which it hasn't.
Can't materialize on a WE. Gotta wait for the banks to wire the money.
I'll believe the hype when I see btcchina volume budge even slightly. Which it hasn't.
It will take time before we see heavy buying. When you first heard about bitcoin I bet your first reaction wasn't "omg this is awesome MUST BUY NOW !!!".
First comes the search volume. Leading very quickly to client downloads. Already materializing.
Then I expect a rise in hasing power as the average chinese newcomer start earning some BTC though mining, the easiest way of acquiring BTC that anyone can do with their existing computer.
Realizing they can only get a few bitcents a day at most with their GPUs, some will head to the exchanges. Small transactions at first, to test the waters.
The whole process will take a while. A few weeks at best, more likely several months.
I'll believe the hype when I see btcchina volume budge even slightly. Which it hasn't.
The CCTV programme is not any sort of official endorsement of Bitcoin. I think China is "wait and see"-ing, just like most other govts around the world. To be honest, the more exposure it gets, the more likely it is that some old grey person in some nook or cranny of the govt will decide to crack down on it.
Nice increase in downloads, but it will likely not have a significant impact on the price. BTC is not new in China among the young/tech-savvy audience.
That said, there is an exciting opportunity to capture the less tech-savvy public. Chinese *like* investing. IME, it's not like in the West, where few people trade stocks directly -- many Chinese from all walks of life are heavily into the stock market, and will lap up the opportunity to participate in a pump.
Nice increase in downloads, but it will likely not have a significant impact on the price. BTC is not new in China among the young/tech-savvy audience.
That said, there is an exciting opportunity to capture the less tech-savvy public. Chinese *like* investing. IME, it's not like in the West, where few people trade stocks directly -- many Chinese from all walks of life are heavily into the stock market, and will lap up the opportunity to participate in a pump.
I am not really interested in the relation between this news and the price, but what long-term effect a growing bitcoin client userbase may have.
The CCTV programme is not any sort of official endorsement of Bitcoin. I think China is "wait and see"-ing, just like most other govts around the world. To be honest, the more exposure it gets, the more likely it is that some old grey person in some nook or cranny of the govt will decide to crack down on it.
Nice increase in downloads, but it will likely not have a significant impact on the price. BTC is not new in China among the young/tech-savvy audience.
That said, there is an exciting opportunity to capture the less tech-savvy public. Chinese *like* investing. IME, it's not like in the West, where few people trade stocks directly -- many Chinese from all walks of life are heavily into the stock market, and will lap up the opportunity to participate in a pump.
Nice increase in downloads, but it will likely not have a significant impact on the price. BTC is not new in China among the young/tech-savvy audience.
That said, there is an exciting opportunity to capture the less tech-savvy public. Chinese *like* investing. IME, it's not like in the West, where few people trade stocks directly -- many Chinese from all walks of life are heavily into the stock market, and will lap up the opportunity to participate in a pump.
Where do you get the idea that the Chinese government 'embraces' bitcoin?
Is it because CCTV, a state owned media outlet, broadcast a special covering BTC? If that is the case, then I would say it is too early to determine what the government's stance is on BTC, but from every perspective I look at it, the government would be against it.
CCTV's censors might not fully understand BTC and allowed the special to air as the censors are probably told what type of material to censor and cryptocurrency is certainly a new enough topic that the people in charge of broadcast might not have known any better, on the flip side they might fully understand BTC and the government really might have given the go-ahead, but I really doubt this.
Is it because CCTV, a state owned media outlet, broadcast a special covering BTC? If that is the case, then I would say it is too early to determine what the government's stance is on BTC, but from every perspective I look at it, the government would be against it.
CCTV's censors might not fully understand BTC and allowed the special to air as the censors are probably told what type of material to censor and cryptocurrency is certainly a new enough topic that the people in charge of broadcast might not have known any better, on the flip side they might fully understand BTC and the government really might have given the go-ahead, but I really doubt this.
looks like the govt. has give bitcoin the go ahead
http://www.reddit.com/r/Bitcoin/comments/1dosc3/im_a_chinese_born_us_citizen_heres_what_i_thought/
What happened with Q coin?
Effect? The writing is on the wall: http://sourceforge.net/projects/bitcoin/files/stats/map?dates=2013-05-04
Yea, I have a hard time wrapping my mind around this, but it happened.
24k Bitcoin-QT download? WTF?!Yea, I have a hard time wrapping my mind around this, but it happened.
No more than 1.5k daily before the program aired.
Effect? The writing is on the wall: http://sourceforge.net/projects/bitcoin/files/stats/map?dates=2013-05-04
Yea, I have a hard time wrapping my mind around this, but it happened.
24k Bitcoin-QT download? WTF?! Yea, I have a hard time wrapping my mind around this, but it happened.
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