Title: So…it seems the Chinese are back Post by: GigaCoin on December 26, 2013, 12:49:23 AM There are a lot of rumors that Chinese are back on the market because okcoin and btcChina have new deposit options ? Can someone confirm this, maybe if you have an account in those exchanges. If true i think we're starting to see another strong uptrend this week.
Which might also explain ltc rise today. Title: Re: So…it seems the Chinese are back Post by: Bono on December 26, 2013, 12:54:54 AM As I understand it, it is still relatively hard (read: illegal) for Chinese to move FIAT in and out of local exchanges. They are far from "gone", but whatever they're doing to trade BTC is just a workaround for their stringent government policy.
Of course this is good news in the short term, but we will never know Bitcoin's true potential until China takes an official stance that's positive. Title: Re: So…it seems the Chinese are back Post by: Apostata on December 26, 2013, 01:44:57 AM Basically, it seems that a few of the Chinese exchanges are now selling BTc "vouchers". Check out the reddit threads discussing them here
http://www.reddit.com/r/Bitcoin/comments/1tnz6k/btcchina_starts_selling_btcc_voucher_btcc码_on/ And http://www.reddit.com/r/Bitcoin/comments/1tnf8e/btcchina_adds_a_fundingwithdrawal_option_btcc/ Title: Re: So…it seems the Chinese are back Post by: TERA on December 26, 2013, 02:10:29 AM Bit coin is relapsing onto its Chinese amphetamine surge but we all know where that leads...
Title: Re: So…it seems the Chinese are back Post by: Boxman90 on December 26, 2013, 02:22:28 AM Yep, this is how Bitcoin works now. Fuck global adoption and world changing Bitcoin related events.
BTC rollin' like: Slightest hint of good news from China --> price goes to the moon momentarily Slightest hint of bad China govt. related news --> epic crash to the depths of hell It makes for easy trading but gosh, Bitcoin starts to look like a joke more and more. Title: Re: So…it seems the Chinese are back Post by: YoYa on December 26, 2013, 02:33:08 AM 2014!
Quote Horse is one of Chinese favorite animals. Horse provides a good and quick transportation for people before automobiles. Horse can give people a ride to their destination. Therefore, horse is not only a symbol of traveling, but also a sign of speedy success. Title: Re: So…it seems the Chinese are back Post by: bitcon on December 26, 2013, 02:38:25 AM i hear rumors of OPEC getting on the bitcoin train in 2014
Title: Re: So…it seems the Chinese are back Post by: undeadbitcoiner on December 26, 2013, 02:47:32 AM Okcoin is not yet fixed but BTCChina already connected with third party recharger, they started depositing from 2000 to 50000 recharge cards, Now chinese and China market is back, This week we will see the price back to 1000+
Good Luck Title: Re: So…it seems the Chinese are back Post by: undeadbitcoiner on December 26, 2013, 02:50:32 AM Yep, this is how Bitcoin works now. Fuck global adoption and world changing Bitcoin related events. BTC rollin' like: Slightest hint of good news from China --> price goes to the moon momentarily Slightest hint of bad China govt. related news --> epic crash to the depths of hell It makes for easy trading but gosh, Bitcoin starts to look like a joke more and more. Why dont you see that price went up from 200$ but after such crashing news also never came down less then 450, Thats called strenth, Its now confirmed that Bitcoin price will never come back to that 250$ again. Bubbles happens in tradings. Title: Re: So…it seems the Chinese are back Post by: MatTheCat on December 26, 2013, 03:05:35 AM Bit coin is relapsing onto its Chinese amphetamine surge but we all know where that leads... Yeah...despite the massively decreased Chinese volume. Bitcoin markets move in whatever direction BTC38 (China) moves in first. So for the time being, the only way to make a sound Bitcoin investment decision is to get inside the heads of those within the Chinese establishment responsible for forming official policy towards Bitcoin. Bitcoin could well easily shoot back up to over $1000 only for these fuckers to wave their magic wands and bring it crashing back down. That to me seems like the BTC market today, in a nutshell. Puts forward quite a poser, because if BTC were to shoot back up to $1000, I certainly wouldn't mind jumping onboard for the ride. I have other thoughts in my head regarding the Chinese as well. Whilst it is true that the Chinese will not want to allow widespread adoption of Bitcoin within their own economy undermining government efforts to control, regulate, and collect taxes; perhaps there are well connected figures within the Chinese establishment who see Bitcoin as a hot product with a huge future in front of it. Perhaps some fairly influential Chinese folks want in on Bitcoin and in a big way. Now, if they were to simply enter the market in an Honest John sort of way, that you or I might enter the market, they might have gotten their first few coins at around $150 or whatever, but very soon, their buying pressure would blow the top of the market, causing a lot of sell off events, that would eat into their Bitcoin wealth. i.e. lots of folks would be raking in profits at the expense of these growing whales. Far better would be to use their political influence to allow Bitcoin to boom within their economy, creating a global Bitcoin boom, and all the avarice driven euphoria that goes with it, before instigating a controlled demolition, eventually resulting in a avarice driven despair and a global Bitcoin crash. It is in such an environment, that a giant potential buyer of Bitcoin would be able to purchase the largest volume of Bitcoins at the lowest prices with droves of despairing Bitcoin investors only too glad to sell dirty cheap coins to the growing Chinese whale(s), before 'Bitcoin goes down tubes altogether'? It might well be a 'conspiracy theory', but don't say that shit like this doesn't go down all the time, cos it does. A slight variation on the classic pump n dump. Pump, dump, and then buy buy BUY! (a bit like the legend of how the Rothchild's came to practically own the British government in the aftermath of the Napoleononic wars. Title: Re: So…it seems the Chinese are back Post by: ElectricMucus on December 26, 2013, 03:14:35 AM These exchange code auctions are an act of desperation and should not be viewed as a sign for recovery. At best this could give us a nice suckers rally.
Investors will continue to look for exits unless there is a clear sign situation is resolved. Title: Re: So…it seems the Chinese are back Post by: TERA on December 26, 2013, 03:26:13 AM I think he means it makes usability in the fiat-minded business world difficult.
Title: Re: So…it seems the Chinese are back Post by: BitThink on December 26, 2013, 03:30:27 AM BTCChina just found a way to help those who want to withdraw fiat do not withdraw but transfer the fiat to those who want to deposit. It's a temporary work around and cannot avoid but only slow the fiat decrease.
Title: Re: So…it seems the Chinese are back Post by: GigaCoin on December 26, 2013, 08:33:43 AM Okcoin is not yet fixed but BTCChina already connected with third party recharger, they started depositing from 2000 to 50000 recharge cards, Now chinese and China market is back, This week we will see the price back to 1000+ Good Luck I've just read up on the vouchers. So I guess def Chinese r back and the prices are starting to reflect that already. The train seems to be leaving especially on litecoin. Title: Re: So…it seems the Chinese are back Post by: TERA on December 26, 2013, 09:34:32 AM It's not just litecoin - it's all the alts again. I guess fontas will be starting "pump season 4".
Title: Re: So…it seems the Chinese are back Post by: Wilhelm on December 26, 2013, 10:52:40 AM It's not just litecoin - it's all the alts again. I guess fontas will be starting "pump season 4". What happened to him (I don't believe the trollbox info) but is he arrested or put in jail? Title: Re: So…it seems the Chinese are back Post by: yomofo on December 26, 2013, 11:31:48 AM will the chinese government ban the use of bitcoin vouchers? can they?
Title: Re: So…it seems the Chinese are back Post by: windjc on December 26, 2013, 11:33:42 AM will the chinese government ban the use of bitcoin vouchers? can they? Ultimately China doesn't matter. The market is at $700ish because thats the current bottom consolidation point. The market just uses "news" to justify its leaning sentiment. Title: Re: So…it seems the Chinese are back Post by: GigaCoin on December 26, 2013, 07:51:53 PM will the chinese government ban the use of bitcoin vouchers? can they? They can go as far as shutting down btcChina and declaring Bitcoin illegal. Title: Re: So…it seems the Chinese are back Post by: Anotheranonlol on December 27, 2013, 03:03:13 PM will the chinese government ban the use of bitcoin vouchers? can they? http://ww4.sinaimg.cn/bmiddle/4a733828gw1ebykgr0g20j20k80hjgnq.jpg who would you guess recently propose the idea of tying in exclusively to central bank, mandatory fees, and safer wallets..and for what reasons ;D Quote insiders speculate that the central bank has asked banks and CUP (China UnionPay) bitcoin trading **platform shall provide prepaid services**, so that led to a number of third-party trading platform stop recharging services http://www.pbc.gov.cn/publish/goutongjiaoliu/524/2013/20131227145747585770977/20131227145747585770977_.html it's positive, even if it takes market time to see it Title: Re: So…it seems the Chinese are back Post by: theecoinomist on December 27, 2013, 09:48:44 PM http://www.reddit.com/r/Bitcoin/comments/1tgntd/chinese_exchange_huobi_still_accepting_rmb/
Huobi CEO lets customers deposit via his personal accounts, I recall him having bank accounts at every major chinese banks, so ironically it's still easier to buy bitcoins in China than in EU/US Title: Re: So…it seems the Chinese are back Post by: ElectricMucus on December 27, 2013, 09:59:47 PM http://www.reddit.com/r/Bitcoin/comments/1tgntd/chinese_exchange_huobi_still_accepting_rmb/ Huobi CEO lets customers deposit via his personal accounts, I recall him having bank accounts at every major chinese banks, so ironically it's still easier to buy bitcoins in China than in EU/US Wow that's even more desperate than the voucher thing. Can't wait to watch it burn. Title: Re: So…it seems the Chinese are back Post by: GigaCoin on December 27, 2013, 10:04:51 PM http://www.reddit.com/r/Bitcoin/comments/1tgntd/chinese_exchange_huobi_still_accepting_rmb/ Huobi CEO lets customers deposit via his personal accounts, I recall him having bank accounts at every major chinese banks, so ironically it's still easier to buy bitcoins in China than in EU/US Wow that's even more desperate than the voucher thing. Can't wait to watch it burn. LMAO i read about this few days ago, it is v indeed desperate :D Title: Re: So…it seems the Chinese are back Post by: yogi on December 27, 2013, 10:06:23 PM Prices at btcchina have risen above bitstamps for the first time since the bad news.
Title: Re: So…it seems the Chinese are back Post by: TERA on December 27, 2013, 11:15:23 PM You guys are dreaming if you think the current price action is not unnatural and not 90% driven by China right now, and that China is a safe bet.
Title: Re: So…it seems the Chinese are back Post by: R2Pleasent on December 27, 2013, 11:22:51 PM You guys are dreaming if you think the current price action is not unnatural and not 90% driven by China right now, and that China is a safe bet. Yep, exactly, Bitcoin is extremely high risk at the moment. Very little needs to happen for this all to come crashing down. Majority of volume is taking places on Chinese exchanges which likely aren't operating legally. |