Bitcoin Forum

Wow!, those fucking Chinese people are crazy - eh?  When they look through those funny slitty eyes and see dollar signs, they go nuts buying up shit.  They'll run the price through the ceiling.  Better still is watching them panic.  The way down can be twice as hostile.  At least they bring excitement to the community.  Gotta love China.  Natural born gamblers.

Yeah mate Bitcoin has been acting absolutely crazy the past couple of days. I don't know what's going on but it seems the price hike is due to the Chinese buying up tons of coins but I am really concerned with what will happen to the Bitcoin price when they start selling.
I think a panic sell by the Chinese will create a domino effect that could crash the price back to the $250 realm. I am going to sell when it gets to $1000 because I think this will be the tipping point.

Are you sure about that, $1000 is the best price to sell? Do you think it won't goes even higher?

Chinese people use their strategy, there are not wrong about that and they are not crazy. It is just strategy for get profit.

chinese miners are pumping btc to keep it profitable to mine a little longer and cash out before the halving

The Chinees are buying coins to escape the Yuan, they want to hold and secure there wealth.

Just a small story from 2013:


https://www.reddit.com/r/Bitcoin/comments/1oz6x9/long_term_holder_why_i_sold_all_my_btc_200/

This was the last time bitcoin was that cheap.

And the update:


https://www.reddit.com/r/Bitcoin/comments/1oz6x9/long_term_holder_why_i_sold_all_my_btc_200/ccx9cpz

And guess what, a month later it really went to $1000.

Ha... I guess you love them right? It's night time in China so I guess we won't see too much action for the next 8-10 hours...

The Chinees are messing up everything to secure there own well being. I hope that some kind of solution is coming for this because it is not the way I want it to go.

if they are really doing this massively, then prepare for 10k in a short time, also add tot he fact that more panic buy will join the party from all around the world, and you have a very big marketcap coming

great point. someone realize that this is a price manipulation which has started from chinesse exchangers. fake volumes, fake companies, even their shit is fake in China  LOL

The story behind bitcoin's latest price surge is, as I managed to find out - is most likely a combination of these events:

1. Chinese speculators and depositors are buying BTC either to invest in it, or to transfer it over the border and then sell.
2. Anticipation of incoming halving is additional factor.
3. USA market is living in anticipation about negative remarks from the FOMC statement.
3b. Also latest US jobs report was a huge disappointment - US investors are anticipating dollar crash because of that.

After seeing bitcoin price keep increasing constantly I'm pretty sure that bitcoin will cross 1000$ at the time of halving. it may reach 2000$. but Yes, The Crazy Chinese are playing a big act with bitcoin. if they decide to sell their coins Immediately before halving. and sell all their coins. then the bitcoin price will may not even reach 800$ or may be it will get down.
but I don't think china Industry will do such stupid thing.

I'm trying to find the source and will post it when I find it, but I read somewhere that one reason the Chinese are into heavy buying is because their government's firewall would cause Chinese miner problems if the block size were to increase. Many anticipate the block size to be increased soon because the blocks are nearing transactional capacity. So, they're buying now while it's relatively easier for them to do so.

EDIT: Here's the article: http://www.nasdaq.com/article/why-the-great-firewall-of-china-is-causing-serious-issues-for-bitcoin-miners-cm585604

I completely agree with Hazir too.

chinese always use possible way to earn money as much as they can,i've seen people there even selling uncommon thing just for money
bitcoin is one of them!

Yeah, and the scrotum of a white tiger is another.

Wow bitcoin going up so high, I can't wait for it go go back to the good old days of $1000

They're making the price of bitcoin go up, how is that a bad thing? It's fantastic, unless you don't own any bitcoin's.

No. The Chinese investors are going into Bitcoin to escape Yuan, not to convert back after the price has reached X amount. Obviously, this isn't a stable rise and a correction is expected, but everyone is being hyperbolic about it.

---

This thread is pointless and possibly in the wrong section. Why do you hate the Chinese? Are you a Trump supporter?

I'm even afraid to go to sleep i don't wanna miss it when they start selling. it might just plummet down to $200 lol would it?

I'm gonna kill myself if this suddenly happen over night.  ;D

Are the chinese the primary reason for the crazy price increase for Bitcoin over the last couple of days?

I've been loving how all market items sat in US$ have dropped to half the price in Bitcoin over the last week or so.

/AsdQ

Some simple advice sell 20% of your coins today

That's one reason. See my earlier post, and Hazir's.

Regarding Hazir's post, the US economy has far too much smoke and mirrors. Almost 1/3 of working-age people are not in the workforce. Most new jobs that are so proudly announced in the press are actually part-time and low paying but the press leaves that part out. The government stops counting you as unemployed if you've been unemployed for greater than 6 months (or maybe it's one year). The national debt is staggering and keeps getting larger. Everything I've said can be verified by searching, and this info comes from the govt sites and not some random yahoo trolling the web. The stock markets are largely overinflated, and many people know this, but continue acting as if all is good. It's quite precarious, and it's not just the US economy. Many other high-GDP countries are in the same boat.

Yes this is crazy they are buying like crazy animals these days, for a part its good but it also can be bad of course.
I hope this will unwrap good, go Chinese go!

i just want to sell the top  :P
Bitcoin really needs a correction, it's going only up and up.... i dont want see this when starts to go down.

Damn. I mean, I knew US have had a shitty economy ever since the Bush presidency, but I didn't know it was that bad. Do you think a crash of the US stock market would raise or lower the overall Bitcoin prices?

/AsdQ

it skyrocket and its not even halving yet which is scary.
But yeah the China men are the reason why sudden price hike. They're buying bitcoins hoping for the profit when halving comes. they're hurrying things up.

Who hates Chinese?  The original post says: 'got to love them'.  Trump loves Chinese.  He loves money and Chinese loves money too.  Trump fucking totally loves Chinese.  Only you think negative about Chinese Luada - you thug.

The Chinese are buying like crazy,they know that halving is approaching and that this is even more push price up.At some point they will start selling for sure,this is only game for profit and they are very good in that game.How much price will drop after all it is difficult to estimate.

just remember, is always goes down much faster than it goes up.  You might not want to wait much longer.  Pretty much sell today or tomorrow.  Don't wait too long like you did last time.

My wishful thinking here - I agree that once price hits a certain threshold, it's advisable to get rid of the coins before panic selling occurs. When price crashes, time to buy in more. 

Some have speculated that it will drop down to about 200$, when would you suggest to start buying again?

/AsdQ89

lost $30 in the last hour!  Maybe the correction is beginning?!  Sell!

Well, I would thank them for this but if this rally turns out to be counterfeit I'll be pissed.  Lol

How do we know this is from China again, exactly?  Someone keeps track of this sort of thing?

Does anyone know what exchange china actually uses so you can watch the pumps as they happen? Is this definitly the chinese or could i tbe market manipulation by someone else? Maybe just mass panic buying from all over the world?

Spoken like a real shill troll...  ;D ...He will say anything to push the price of Bitcoin down, just look at his post history to see where he is coming from.  ::) Are you getting scared that you might miss

your next pay cheque, if it goes to $1000 or do you just hate to be a Bitcoin hater, when things looks good for us?  ;D ;D ;D This growth is fueled by the problems in the fiat currencies and the

financial governance behind it. Bitcoin just capitalize on their mistakes.  ;)

As of now, a combination of currency flight from the yuan and opportunistic investors looking to pump up the price is causing bitcoin to skyrocket. Chinese demand is really a huge factor  :-\ . Anyhow, I feel that it may hit $1000, but anything beyond that may see a crash once the bubble pops. Invest at your own risk  ;)

I don't see why would they be responsible for it. Its just market sentiments before halving happens and is probably the reason price is rising. The miners could be rising the price however, so as to set a higher price just after halving to still profit from their mining.

I think title should be i love chinese rather than fuc......
Due to this crazy pump all are holding their coin tightly hope to touch 800$ by end of this week.

I think there's no proof that china involve why this is happening..  just think that more people are knowing bitcoin and bitcoin is indemand..

I have read that, and got the impression that it was sarcasm.

No.

No. The western exchanges are playing a game of catching-up again.

So why are the Chinese exchanges trading at higher prices than the West? Because the West is leading the rally? ::)

how they can buy like crazy when their banks are not allowed to deal with exchangers? The banking institutions and are banned from engaging in bitcoin business through banking, as well as servicing or doing business with the bitcoin industry. So, how can they buy or sell? :)

According to the chinesse volumes(if someone is really idiot to think that they are real), we are talking about many millions per day IN and OUT BTC. How is it possible to deal with such amounts through banks while the banks are banned to deal with exchangers? :)

http://www.bloomberg.com/news/articles/2013-12-05/china-s-pboc-bans-financial-companies-from-bitcoin-transactions

It looks to me that the article says the opposite, i.e. the chinese already have an advantage because, thanks to the firewall, people outside china receive new block with a delay. This delay will become even bigger if the block size is increased. Not so?

At first look at the title, I thought you were really angry with the Chinese people.

I mean, I initially thought 'why would he hate these Chinese people for raising the value?' but then I looked at the contents and hey, not disappointed.

What kind of title is that? It is racist as fck.

You all will be mad when someone puts a title like "f**king englishes" or "f***ing germans" but you pretend like it is ok to call chinese people f***tards.

The price is increasingly fast and i dont know why its happen but According to a news this is because of chines trading market bitcoin is in demand in the chinese market but not every one are agreed in this explanation.. source http://www.coindesk.com/china-drive-bitcoins-price-2016-highs/

Makes sense the chinese has a huge impact on the price of Bitcoin in the market,first they control the mining industry and now the price if Bitcoin,no wonder they rule industry on almost all countries..

Give it a few years, I think the price could be well over $1,000.

Hell once everybody gets on board with BitCoin, could be a couple thousands.

You don't understand what racism is.  If it makes you feel better, fuck the Englishes and the Germans too.  Now we are all equal again!  Fuck all of ya'all!

I am not agreed about the news that chinese market increasing the price of bitcoin and its indemand in chines trading exchange but there's no proof
Many people are still not agreed in the news. and i believe bitcoin increased because its in demand not only chinese.. this is just because of block halving and more people are attracted to the price movement from the market.

ha!

Fucking Rawdog!

just occasionally this place gets a bit of spirit about it...

(even if he is just trying to get u to sell, or whatever he's playing at )

love those rawdog vids on you tube - whether it's the same guy or not - most chucklesome...

When you say the 'Chinese', you don't mean the ordinary people, do you? Because pumps like these are done usually by people in the know.  I wouldn't be surprised if the big miners banded together from time to time to pump BTC in order to protect they're interests and operations from collapsing due to a falling BTC price...  Or the halving, which cuts the miners' earn in half.  Ouch.

Hah!  Indeed, a fun thread.  ;)

The Chinese handed me a gift, a +/- 20% gift in $-terms of my BTC holdings.  Since I am DONE buying Bitcoin, any price move up is a gift.

In fact, for those so inclined, buying gold with the BTC:Au price ratio at some 1.88 (very low, gold cheap vs. BTC) might be smart.  See the ratio at the below nice widget:

ounce.me (http://ounce.me)

Youtube said the video is not available. It must have been good.

To those of you with no spine and who hate free speech, you need to grow up. Life isn't snowflakes. Censoring someone's speech, no matter what it is, is fascist. That IS something the Chinese can tell you about, unfortunately (that is, if they're on TOR or I2P).

How about you start analyzing the market and looking at all the exchanges? You will find your "proof". Why would someone believe that the general demand (interest) surged for no (apparent) reason? Also, start improving your English skills (I suggest taking a look at better use of punctuation as this was hard to read).

That cuts their earning in half assuming that they sell instantly. It should not be a problem for those that can hold onto these for a while. Besides, the price is getting better for 'them'. Although you make a decent point with the possibility of the miners being a contributing factor here (although we can only speculate at this point).

LOL @ the OP

This guys just want to show how he don't like Chinese people but if for real everyone of us hating somebody or something but showing this like that is not so good.

Amazing things! ;D

Right, Chinese people make bitcoin price in their exchange (hao BTC) is more expensive than western exchange it's will give more spirit for bitcoin price to get rising.

What fucking Chinese? Would it be any better if today's rise would come from fucking Wall street traders? Some people may be trying to save their savings, and no one can blame them for doing that.

Maybe in a few days, we will have plenty of fucking Brits escaping their sinking pound because of brexit.

Are you sure that it will be the Brits escaping the sinking Pound or might it be the continental Europeans escaping the sinking Euro, after the Brexit vote shows that the elite's vision of the United Socialist States of Europe is out of favor within the population? In the longer term both currencies will drop relative to Bitcoin of course. Fiat money never wins.

I remain a skeptic when it comes to commonly offered interpretations regarding the Chinese Bitcoin market. The volume seems just too unreal compared to USD and EUR volume. Of course it's still possible that it's driven by genuine buying, since there are more than 1 billion Chinese. But even if it's just driven by speculation, the Chinese still are prudent to be willing to take some risks, because given the restrictions imposed upon investments in China, they would be otherwise guaranteed to loose.

ya.ya.yo!

They love to gamble and taking risk, but its a good move to buy bitcoin now, if i have a lot of money i probably will do the same, opportunities doesnt knock twice, and some of the chinese is too wealthy so they dont have any place to spend, so they try to invest it into bitcoin

Yup, it's all speculation from me.  But it isn't farfetched and it is indeed possible.  We've seen these shenanigans done in the world of business from time to time.  And with the cartelization of BTC mining among the top mining farms, I wouldn't be surprised and would accept it as the reality of the Bitcoin economy.

I actually am pretty happy that these "fucking Chinese" are pumping up the price. Afterall they are bringuing a lot of attention to bitcoin once again. This can only be good

"Fucking Chinese" LOL there are how many Chinese again? 1.3 B? and a percentage of this 1.3 B Chinese are panick buying BTC? for what? investment or to escape Yuan? i hope it's the 2nd one, coz if that is the reason, they wont sell when they see a glimpse of profit in it.  and well if they do this for investment, for sure they will sell it the moment they saw a profit from it. So better to ride with them than left out holding my BTC while watching the price plummet.

When do you think bitcoin will die again?

2011? Nope
2012? Nope
2013? Nope
2014? Nope
2015? Nope
2016?  ???

Should have trusted the great china man :8

PS: OP predicted 10 or 1$ btc for 2014/2015 :)

Something we need to learn from.

Yeah but what if the current trend of Chinese investors buying up Bitcoin changed and they decided to sell their Bitcoin holdings? A steep Bitcoin price increase means the fall will be even more pronounced. I don't think the Chinese will pump the price forever and when they see a better investment option elsewhere they will pull their cash out of the Bitcoin market and the price bubble will burst easily. We always have to take in mind the dangers of the opposite position.

Oh, don't get me started on the fucking Brits!  They are worse than the Chinese.  A lot worse.  Can anyone say 'crybaby Mike Hearn'?  What a pussy.  Tahnkfully, the Brits don't really have money any longer so they don't cause the price to swing much at all.  The Brits are becoming like the Swiss.  They are tight fisting everything they've got.  They don't really get into risk much.  Fucking bunch of old ladies if you ask me.  "Fancy a cup of tea?"

Yes, this is true.  It is also further proof that the Chinese are definately fucking.

Yes mate, market really crazy right now. I will wait max just day after halving what ever the price will be I will sell all of my coin. I do not wanna to be one of them like who don't sell their coin on 2013 and who buy bitcoin end of 2013 to early 2014.

lol, why is there so much racism in this topic! Chinese or not the price would have risen sooner or later, it is not only them who are buying bitcoin.

or where you ignorant when whales were accumulating at an stable price in the range of ~$450 , or even when they put up big sell walls or even dumped bitcoin and spread FUD to keep the price at their desirable range below $500 to accumulate more. and now it is time all those whales to get their reward.

this guy only gets it and his topic is pushed to second page because of spam nonsense in other topics: https://bitcointalk.org/index.php?topic=1498855.0

A lot of misinformation and misinformed people here.  Also not sure why this ignorant thinly veiled racism is allowed.

What bothers me much more is that people are suggesting censorship. That's fascism.

If someone makes a racist post or something else offensive, don't read it. Censorship is evil. It doesn't matter what the person said, whether they're right or wrong, or whether its' agreeable or not. It should not be censored.

Ask the Chinese how they feel about censorship (make sure you're on TOR or I2P though).

Because the admins are not morons.  Where's the racism?  If someone wrote: "I hate the fucking Chinese" - that might be racism.  But the original post clearly states love for the Chinese.  

Stop being a politically correct idiot.  There is no racism.   I do hate the idiots around here.

You mean the guys who schooled America in what capitalism is? The people who will lead the world economy for the rest of the century, just as they have for most of human history? It should come as no surprise that China will be the biggest player in the future of Bitcoin.

It may correct due $1000 being a psychological barrier, but after the correction it will keep rising way above $1000, so the idiots that sold their cheap coins assuming the rally was over would get burned, as they will be left behind with only fiat in their wallets and no Bitcoins to enjoy the rise.
Buy and hold or you will cry later (I don't care how much you have to wait to cry, you will cry about losing your BTC, if not in a month, in 5, in a year, or in 10 years, you will cry like a hungry baby)

Lol I like your sense of humor  :D


Yeah, i agree there is no racism in there, in fact the original post thanks the Chinese for pushing BTC price up.  It's just an expression, and  a good one to catch readers to comment on his thread ;D

Turns out, the fucking Chinese aren't really doing much buying and selling after all - it's all smoke and mirrors.  Those little squatty fuckers are cooking the books!  Honesty was never a forte in some communities.  Oh well.  C'est la vie.

https://forum.bitcoin.com/bitcoin-discussion/reminder-chinese-bitcoin-spot-exchanges-okcoin-and-huobi-are-faking-a-majority-of-their-trading-volume-t6701.html (https://forum.bitcoin.com/bitcoin-discussion/reminder-chinese-bitcoin-spot-exchanges-okcoin-and-huobi-are-faking-a-majority-of-their-trading-volume-t6701.html)

i said that since years ago that all the exchangers are doing the same. Fake volumes in order to manipulate the price and the potential clients.

I have to remember Bitfinex, Bitstamp, BTC-e as well along with all the chinesse exchangers. You will see the real BTC market when these exchangers will publish the IN and OUT bank wires(real time) :)

They will never do it because you there are only "few" not thousands of transfers as you imagine. Example : Bitfinex has up to 70-90 bank wires per day which is equivalent with nothing

What is really odd is that the people are accepting that, price manipulation. Do you know how much "you lose" with that? It is a FRAUD and almost nobody is saying a word. I don't see Coindesk saying" OKcoin and Huobi and other exchangers are doing frauds". Why? YES, big interests. :)

that is an old news, it say march 2016, how it is related with the recent pump? it can still be because of chinese, or brexit or halving, many possibility, i think the halving is the greatest betwen those yes

Because of the chinese the value is going to be higher and that is really for us because we waited a long time to get some profit.
And the value is now rising so maybe the time will be soon that we can sell with huge profit and that should be nice.

It was somehow relevant or related with the recent pump because as far as we know, it was a fake pump manipulated by those chinese exchangers. That's probably why we are now seeing a slow drop of value. Probably.

slow drop in value is gone.  Are we back to the 'fake pump manipulated by chinese'?

most likely, this is not a fake pump at all, too many thing are going on that can increase easily the bitcoin price, brexit, halving, chinese yuan losing value etc...

how you can even think this si fake is beyond me....

Everything from China is fake.  I got some new Callaway golf clubs last week - totally fake!  Chine is the fake capital of the world.

HAha yes RawDog, you are right. They have the money that is why they can do that and we can't control them since it is about money and since bitcoin is just starting its popularity in China, for sure after a few months or after a few weeks the exchange  price of bitcoin will go up and up to the ceiling. 1400 Dollars=1 bitcoin maybe. Hahaha. How I wish I have enough money to buy even just 10 bitcoins.

Yeh some chinese are crazy and absolutely crazy chinese now are being tons of coins and what will happen to the bitcoin after 1 year is still bitcoin get the high price or bitcoin will decrease to lower price chinese people is are good in strategy too because they believe in fungchoi and good in business too they are good in profit