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Title: Do you realize ... Post by: rix5 on April 02, 2014, 10:09:52 PM how stupid it is that a central bank (PBOC) can exercice such a power over bitcoinprices without even dumping themselves?
This selloff is actually pretty hillarious. 'central bank controls bitcoin price' such fail Title: Re: Do you realize ... Post by: designfail on April 02, 2014, 10:29:50 PM how stupid it is that a central bank (PBOC) can exercice such a power over bitcoinprices without even dumping themselves? This selloff is actually pretty hillarious. 'central bank controls bitcoin price' such fail They have no choice. Their own currency is over-manipulated by the government. The fact that they started to ban bitcoin in China is a very good sign: without real threat they will not bother. Title: Re: Do you realize ... Post by: rix5 on April 02, 2014, 10:32:36 PM i think it is problematic. What is achieved now?
Many chinese will be (illegally) continue trading maybe be criminalized. Over all the POBOC makes china-people poor people. PBOC right now destrois the wealth of chinese citizens and on top of it criminalizing those that will not bow down to the misery. From the peoples standpoint it is the worst. Many honest chinese people are ruined by that zombi-bank Title: Re: Do you realize ... Post by: atp1916 on April 02, 2014, 10:56:24 PM It was 100% naive to think that Bitcoin would have been allowed to operate in China in the first place.
Their government is Communist. It's centralized heaven over there. Title: Re: Do you realize ... Post by: rix5 on April 02, 2014, 11:27:14 PM It was 100% naive to think that Bitcoin would have been allowed to operate in China in the first place. Their government is Communist. It's centralized heaven over there. funny how 'communism' never works out for 'the people' ... well actually not funny Title: Re: Do you realize ... Post by: turk on April 02, 2014, 11:29:04 PM It was 100% naive to think that Bitcoin would have been allowed to operate in China in the first place. Their government is Communist. It's centralized heaven over there. funny how 'communism' never works out for 'the people' ... well actually not funny Yet, most people in the US, young hipsters, seem to never figure that out. Title: Re: Do you realize ... Post by: James222 on April 02, 2014, 11:31:35 PM They get to "control" the prices because bitcoin is dependant of other currencies. Thats why bitcoin would need to be used on more a daily basis, but the problem is that you need your computer around you. If people start putting fixed prices in btc, then it can really start to be independant. Btc value should be determined by other factors.
Title: Re: Do you realize ... Post by: Velkro on April 02, 2014, 11:33:59 PM stupid or not, price going down, im not worried, will w8 :)
simple as that Title: Re: Do you realize ... Post by: 5thStreetResearch on April 02, 2014, 11:36:17 PM They get to "control" the prices because bitcoin is dependant of other currencies. Thats why bitcoin would need to be used on more a daily basis, but the problem is that you need your computer around you. If people start putting fixed prices in btc, then it can really start to be independant. Btc value should be determined by other factors. Its a free market. The only determinant of bitcoins value could only ever be what someone is willing to pay for a bitcoin at any giving moment in time. If someone was to 'fix' bitcoin's price, is would no longer be open and decentralized. Title: Re: Do you realize ... Post by: edok on April 03, 2014, 12:24:58 AM It was 100% naive to think that Bitcoin would have been allowed to operate in China in the first place. Their government is Communist. It's centralized heaven over there. funny how 'communism' never works out for 'the people' ... well actually not funny Yet, most people in the US, young hipsters, seem to never figure that out. Old hipsters on the other hand... Title: Re: Do you realize ... Post by: trior on April 03, 2014, 04:14:20 AM They get to "control" the prices because bitcoin is dependant of other currencies. Thats why bitcoin would need to be used on more a daily basis, but the problem is that you need your computer around you. If people start putting fixed prices in btc, then it can really start to be independant. Btc value should be determined by other factors. Its a free market. The only determinant of bitcoins value could only ever be what someone is willing to pay for a bitcoin at any giving moment in time. If someone was to 'fix' bitcoin's price, is would no longer be open and decentralized. I think he meant actually the prices of products (sold in BTC) to be fixed ; not the price of bitcoin itself. :) Title: Re: Do you realize ... Post by: magnet007 on April 03, 2014, 08:03:29 AM They get to "control" the prices because bitcoin is dependant of other currencies. Thats why bitcoin would need to be used on more a daily basis, but the problem is that you need your computer around you. If people start putting fixed prices in btc, then it can really start to be independant. Btc value should be determined by other factors. Its a free market. The only determinant of bitcoins value could only ever be what someone is willing to pay for a bitcoin at any giving moment in time. If someone was to 'fix' bitcoin's price, is would no longer be open and decentralized. very true.... Title: Re: Do you realize ... Post by: Beliathon on April 03, 2014, 08:08:35 AM It was 100% naive to think that Bitcoin would have been allowed to operate in China in the first place. Fixed that for you.Their government is Communist. It's centralized hell over there. stupid or not, price going down, im not worried, will wait Me, too. Back when I purchased my first few BTC, I had to wait months to see the value do anything but go down. Believe me when I say my patience and discipline paid off. Over all the POBOC makes china-people poor people. PBOC right now destrois the wealth of chinese citizens and on top of it criminalizing those that will not bow down to the misery. From the peoples standpoint it is the worst. Many honest chinese people are ruined by that zombi-bank Absolutely correct, and the political ramifications (rage of millions of Chinese who lost out on all that wealth) in China when BTC returns to 1,000 will tear that country in half. Watch.China was already overdue for a revolution, this will almost certainly be the straw that breaks the camel's back. Once the people realize how badly they got fucked by their own obedience to tyrants and fools... God help them. Title: Re: Do you realize ... Post by: jesse11 on April 03, 2014, 08:10:48 AM It was 100% naive to think that Bitcoin would have been allowed to operate in China in the first place. Their government is Communist. It's centralized heaven over there. funny how 'communism' never works out for 'the people' ... well actually not funny Yet, most people in the US, young hipsters, seem to never figure that out. Old hipsters on the other hand... Fought for this Nation, Love this Nation & Will Never be Forgotten! YEAH! Title: Re: Do you realize ... Post by: zolace on April 03, 2014, 11:41:45 AM Banks will fail, its up to us to support them, they need us. The governments need them more
Title: Re: Do you realize ... Post by: Domino on April 03, 2014, 11:47:30 AM how stupid it is that a central bank (PBOC) can exercice such a power over bitcoinprices without even dumping themselves? This selloff is actually pretty hillarious. 'central bank controls bitcoin price' such fail They have no choice. Their own currency is over-manipulated by the government. The fact that they started to ban bitcoin in China is a very good sign: without real threat they will not bother. First they ignore you, then they laugh at you, then they fight you, then you win. ;D Title: Re: Do you realize ... Post by: polarhei on April 03, 2014, 02:52:17 PM Central banks try to push bad messages to get in, This has been doing for years even we are not discussing bitcoin.
Title: Re: Do you realize ... Post by: Beliathon on April 03, 2014, 03:03:55 PM Central banks try to push bad messages to get in, This has been doing for years even we are not discussing bitcoin. Yep.FUD = Fear, Uncertainty, and Doubt. Psychological warfare 101. |