Bitcoin Forum

Seems plausible to me.

They get their money out by laundering it on bitcoin.

So....  Now Chinese government says no more.  They are watching.

If this is true bitcoin should settle right back to $100

lol. you again.

jess.

By the way, Bitcoin crashed just like you "predicted". And its still almost 100% higher than your cash out price.

Nice call.

Been wondering when you'd show back up. I figured we'd go down another 200 points before you showed up again. But you were more anxious than I gave you credit for. ;)

Very unlikely. At least half of it was probably because of hedge funds and wealthy accredited investors buying in the U.S. And those are the kind of investors who don't panic sell.

still never said I would buy back in at $100, certainly not without a reason for understanding the true treason for the rise and then its subsequent stabilization.

And yeah at the first sign of any price instability I cut and run.  I don't like gambling.

Wealthy investors yes

Hedge funds have to show profits every quarter or people pull money.  It's a pretty cutthroat business.

Aw c'mon. Not a Chinese laundry thread.

Oh no, I didn't mean you would come back to buy. I figured you'd just show up once it got low enough to start saying "told you so" in whatever way most amused you at the time.

I can tell you why there was such a rise if you'd like to know.

A. Many people in the world feel like they have very few options to secure more money, whether through investment, but mainly in general.
B. Many people feel like the cards are stacked against them by big corporations, politicians and governments and by people who control large parts of wealth (and for good reason. the cards are stacked against them)
C. People with wealth love more wealth.
D. Bitcoin is a revolutionary technology that actually has a lot of potential benefits to society and businesses. Many people see the potential and want to bet on that potential being realized.
E. Media hype.
F. Stabalization (although it will probably go lower for a while - at least I hope so) because there is a lot of money that has been invested, a lot of true believers, a lot of institutional money that can't contractually be taken out, and a real finite supply.

Do you know the Chinese fold laundry differently to most Westerners.

did you know the chinese invented the fork but they are still using chopsticks  ???

A chimp can use forks; it can't use chopsticks at all. At least not for the purpose they were invented for, anyway.

I thought this was a Chinese take-out thread.  :)

Historically, earliest usage of forks was recorded near Nile Delta. Also, chopsticks were first used very roughly like needle sticks before actually being improved with usage overtime. In fact, it's not too much of a stretch to say it was a poor man's fork.

I thought something smelt like fried rice.

"no tickee, no washee"