Bitcoin Forum

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.

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.

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/

Bit coin is relapsing onto its Chinese amphetamine surge but we all know where that leads...

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.

i hear rumors of OPEC getting on the bitcoin train in 2014

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

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.

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.

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.

I think he means it makes usability in the fiat-minded business world difficult.

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.

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.

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?

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.

They can go as far as shutting down btcChina and declaring Bitcoin illegal.

http://ww4.sinaimg.cn/bmiddle/4a733828gw1ebykgr0g20j20k80hjgnq.jpg


http://www.pbc.gov.cn/publish/goutongjiaoliu/524/2013/20131227145747585770977/20131227145747585770977_.html

it's positive, even if it takes market time to see it

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

Prices at btcchina have risen above bitstamps for the first time since the bad news.

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.