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Title: Bitcoin now Cheaper in China ? Post by: GigaCoin on December 16, 2013, 10:58:42 AM I just noticed that Bitcoin is now trading for $740-$770, they're usually higher or equal to non-chinese exchanges.
Why do you think is the reason for this and are we about to witness strong selling today and this week? Title: Re: Bitcoin now Cheaper in China ? Post by: NamelessOne on December 16, 2013, 11:32:58 AM I just noticed that Bitcoin is now trading for $740-$770, they're usually higher or equal to non-chinese exchanges. North America waking up soon, we have already dropped. I'd imagine we'll be chasing China soon. Why do you think is the reason for this and are we about to witness strong selling today and this week? Title: Re: Bitcoin now Cheaper in China ? Post by: pand70 on December 16, 2013, 11:37:49 AM The downtrend has been pretty obvious in chinese exchanges for the last 2 weeks.
People that think that it was only a correction that's now over clearly don't pay attention in china... Title: Re: Bitcoin now Cheaper in China ? Post by: Le Happy Merchant on December 16, 2013, 11:38:22 AM bounce at $850.
Absolute lowest $750. Title: Re: Bitcoin now Cheaper in China ? Post by: Oldminer on December 16, 2013, 11:59:44 AM Some big buy orders starting to queue up
Title: Re: Bitcoin now Cheaper in China ? Post by: PenAndPaper on December 16, 2013, 12:04:44 PM The best news lately around bitcoin was that a bakery accepts bitcoin :P
Does anyone seriously expects the price to take off like that? :-[ Title: Re: Bitcoin now Cheaper in China ? Post by: Miz4r on December 16, 2013, 12:24:48 PM Btcchina has just introduced a 0.3% trading fee. :o
Title: Re: Bitcoin now Cheaper in China ? Post by: jubalix on December 16, 2013, 12:28:43 PM Btcchina has just introduced a 0.3% trading fee. :o this Title: Re: Bitcoin now Cheaper in China ? Post by: PenAndPaper on December 16, 2013, 12:39:21 PM Btcchina has just introduced a 0.3% trading fee. :o Good because now we 'll see a more accurate number of the actual volume in btcchina. That has nothing to do with the drop though Title: Re: Bitcoin now Cheaper in China ? Post by: GigaCoin on December 16, 2013, 01:06:25 PM I just noticed that Bitcoin is now trading for $740-$770, they're usually higher or equal to non-chinese exchanges. North America waking up soon, we have already dropped. I'd imagine we'll be chasing China soon. Why do you think is the reason for this and are we about to witness strong selling today and this week? Guess you're right, we're at $770 at Bistamp already, 10% down. Title: Re: Bitcoin now Cheaper in China ? Post by: infinitybo on December 16, 2013, 01:33:58 PM Bitcoin is likely crashing due to the perceived future ineptitude, or increased cost of, converting BTC into Yuan ( or inversely ).
Title: Re: Bitcoin now Cheaper in China ? Post by: yomofo on December 16, 2013, 01:38:38 PM Quote TLDNR; there is a meeting with regulators and all 3rd payment processors in china, and is not just two CEOs of payment processors in Chine made a weibo post saying transactions to exchanges will be banned, they later deleted both posts after the panic sell they triggered in china http://tieba.baidu.com/p/2763806115 Now BTCChina adding trading fees - somethings up for sure! BTC China valued customer: To stabilize the recent turbulent Bitcoin market and minimize potential market manipulation, BTC China will end the 0% trading fee promotion, effective immediately, and revert to the 0.3% trading fee. We deeply apologize for the sudden change. BTC China, December 16, 2013 https://bitcointalk.org/index.php?topic=372998.msg3990707#msg3990707 The panic selling definitely started in China as evidenced by the lower chinese exchange prices. What is going on? can someone verify the news? http://www.reddit.com/r/BitcoinMarkets/comments/1t0733/china_news_2_ceos_of_payment_processors_tweeted/ Title: Re: Bitcoin now Cheaper in China ? Post by: GigaCoin on December 16, 2013, 01:53:23 PM Quote TLDNR; there is a meeting with regulators and all 3rd payment processors in china, and is not just two CEOs of payment processors in Chine made a weibo post saying transactions to exchanges will be banned, they later deleted both posts after the panic sell they triggered in china http://tieba.baidu.com/p/2763806115 Now BTCChina adding trading fees - somethings up for sure! BTC China valued customer: To stabilize the recent turbulent Bitcoin market and minimize potential market manipulation, BTC China will end the 0% trading fee promotion, effective immediately, and revert to the 0.3% trading fee. We deeply apologize for the sudden change. BTC China, December 16, 2013 https://bitcointalk.org/index.php?topic=372998.msg3990707#msg3990707 The panic selling definitely started in China as evidenced by the lower chinese exchange prices. What is going on? can someone verify the news? http://www.reddit.com/r/BitcoinMarkets/comments/1t0733/china_news_2_ceos_of_payment_processors_tweeted/ Thanks for that info, looks like that's exactly what induced today's sell off. The price was already fragile as it is. What's not clear is, are chinese payment processors really banned from transferring money to exchanges. If that is true and not just a false tweet, this week will be v ugly. Title: Re: Bitcoin now Cheaper in China ? Post by: zedicus on December 17, 2013, 02:18:40 AM The best news lately around bitcoin was that a bakery accepts bitcoin :P Does anyone seriously expects the price to take off like that? :-[ It depends what kind of bread do they make? ;D bitcoin powered Cronuts FTW! :) |