Bitcoin Forum

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Their stockpiling and the west is selling.  They're clearly the smart ones.

They are buying in droves and when large volume of bitcoins are bought that is what happens.
West is selling so they are losing out in this tug-o-war of market price. When the price is right China will mass sell then it will be the opposite effect. The west, losers again.   :-\

they could be selling in the west as well, to get USD.

although they would lose a lot by doing it, it's still easier than going through all the capital controls i guess.

Hard to buy when you are asleep.

Because Chinese eats bitcoins for breakfast.

LoL! On a serious note, you gotta admit it is rather hard to trade bitcoin while being asleep. But I observed price drop today (right when I wanted to sell some BTC).
And now price is rising again,that means China is waking up! Thank you Op for this thought.

Caution: When a market pattern gets easily predicable, often you will see it stop working in the near future.

Kind of true. Tomorrow morning the chinese will probably dump their bitcoins seeing their plans failing and the americans having already dumped all the coins to put an end to all their hardwork.

China does not sleep. Just like Las Vegas the city that never sleeps. But this is a whole country that does not when it comes to money and the markets. Sure their stock markets do but the underground ones do not.

The iron wall eats chock full-o-nuts for it's breakfast this morning  :(

Friend, i can tell u. China going crazy for bitcoin.

Soon they will have 90% bitcoins.

Price go to 4000 very very soon.

NOw they're awake  :D

What? This is false information. Everyone knows that United States have the most whales in the world. They are the ones that hold most of those coins. Don't spread rumors to cause anymore damage to what has all ready been done in the last 24 hours. $499 nearly $500 to now $365.
China better make a move fast or it will hit $300 within the next 24 hours.

80% or something of the transactions of bitcoin are done between cny and bitcoin.  How much do those whales hold of the 14million? 10% is 1.4 million coins.. Not saying that china has 90%, but they could be shaking the shit out of the market to get 90% of the coins.

shake all you want, i'm not giving up my coins

and with me, a lot more are holding strong.

sure, i don't have 100s or 1000s of bitcoin, but if thousands of people like me hold their coins, those coins will never get shaken, even if the price drops to $1 (in fact if the price goes that low I will buy much more).

Is is very easy to be understand. Behing all this pump of bitcoin of other increase of its price cannot be other reason that the demand in China. The move of this demand or the amount of this demand, because of the number of transactions made there and the number of people connected with bitcoin, play a big role all the world demand. And affect in a big mass even the move of the price of bitcoin.

well they're 1Billion+ it sure count. People in a single country are less than 100 million but they are 1billion plus. Imagine if they all use bitcoin in a single day then the demand for BTC will rise and so are the value.

Chinese bought BTC like chocolate and sweets for several days, not just in the morning. There has been something like 50$ spread between chinese BTC price and rest of the world price. Now that phase is over.
We're onto the next one which we don't know where it will lead. To me, the relevant thing is they showed they can shake the price pretty easily. It's been fascinating beyond measure to trade some btc lately.

True. Seems like a collective strategy to stockpile and raise the prices so when more buyers get attracted these hoarded Bitcoins can be dumped extensively, thereby, decreasing the value dramatically.

It doesn't mater what country you're from. When you wake up you look at the price, if it's gone up most people buy, if its gone down most people sell. When China wakes up and its gone up $50 in their sleep and it's still rising they buy. When its dropped $50 in their sleep and it's still dropping they sell when they wake.

maybe chinese connections are buying bitcoins in china , then send it to their connection in the West , so they can sell it again.
maybe chinese state is behind this to buy up the american economy in stealth mode

Maybe after buying the American economy (naturally in stealth mode), Chinese (always in stealth mode) will offer to sell the American economy to the Russians (which recently are made their best friends) with a cheap price (Russia is in crisis and have not to much money); always in bitcoin. But there is a problem there. Russia has banned bitcoin. So don't have such. What must to do? Chine advice Russia to buy bitcoin in the bitcoin russian black market. There are to many there. Then Russia did this action and buy (always in stealth mode) from China the American economy. Then begin the exploitation of this economy and to become rich. At the end of this story China has its bitcoins from the sale of American economy to Russia, Russia has the American economy to exploit it and the rest of world become happy from such actions. Then katafrag woke up from the wonderful night had from such happy dream and make the above post. Anyone know that must fight in order that your dreams become true. Katafrad began him's fight from bitcointalk. He wrote only the first part of the dream. To create more suspense. The second part will be wrote tomorrow or in the day that Katafrag will find the most opportune. As about us remain only to wait ....

Friend, my advice: you not make such like remark to any foreign BB (bulletin board).

Of course China in a stealth of course China will take bitcoin.

Not want USA economy value not even of 1 bitcoin!!!!

I would love to understand your advice shamati if you will explain it in english. Otherwise, despite my big desire to learn from you, I cannot do this. I am not a very good english writer and some times do errors. But at least I am understand by the others. This thread here is written in english and we who made posts understand each other using this language. As I understood the post of katafrag. Please write in english in order that me understand what do you mean with your words and give to you my answer.

But before your new post be secure to have understood well what I have wrote.  ;)

In order to do that, you will find the total value of transaction in the blockchain should be very large, there is no talk about that. It is just the buying and selling in exchanges.