Bitcoin Forum

GET YOUR $$$ READY!

I assume there will be a pretty big sell off in the next few days, so get ready to buy!

http://www.dailymail.co.uk/sciencetech/article-2602567/Bitcoin-price-plummets-20-Chinese-banks-announce-plans-freeze-accounts.html (http://www.dailymail.co.uk/sciencetech/article-2602567/Bitcoin-price-plummets-20-Chinese-banks-announce-plans-freeze-accounts.html)

I dont get it - what about this?

http://www.coindesk.com/chinas-central-bank-governor-pboc-wont-ban-bitcoin/

buy now or wait?

I'm so confused right now.....

http://media2.giphy.com/media/PPIusDh8elXJS/giphy.gif

Hold on tight, its going to be a bumpy ride.

The first article looks like it's using dated information. The second article about the pboc not banning bitcoin might be the catalyst for climbing out of the 300s. Perhaps we're past the bottom for 2014?

Just saw this on bitbet, hmmm....
http://bitbet.us/bet/802/bitcoin-to-drop-under-300-before-june/ (http://bitbet.us/bet/802/bitcoin-to-drop-under-300-before-june/)

this is not panic worthy news. the bank will close bank account A on the 18th. the exchange will open bank account B 4 days earlier (on the 14th.)

all that will change is that the deposit details on their website will change on the 14th and giving people 4 days grace period where any funds accidentally sent to the old bank account will still be acknowledged and credited to peoples balances.

this not not panic worthy.
other exchanges in the past, such as: bitstamp and btc-e have changed bank details many times and the customers were not impacted, did not care, and did not notice any difference.

stop overhyping news without looking at the material impact that it will/wont occur

Yeah.. thank frank and hold like a tank
(thanks Franky)

Buy Buy Buy!!

whilst china is simply saying "oh look th deposit details have changed, oh well nothing big to worry about."

the western world is saying
http://bunny1980.files.wordpress.com/2011/07/buy-buy-sell-sell.jpg

most of them might have already sold.

Just had facetime session with bitcoiner friend in Beijing, most exchanges still have a deposit freeze - Nothing has changed thus far. Has to clear all fiat funds by 18th. Never underestimate the Chinese though, I'm confident they will find another way to re-charge their respective exchanges with CNY/RMB.

Amazing how this news/statement has influenced the price! Nor China or PBOC has the ability to "ban" bitcoin  :D

Just won't be able to directly fund ANY bitcoin exchange (globally) via their central bank/affiliates.

My business within Europe depends on me making continuous deposits to my exchanges via my bank. I simply would not be able to operate if my European bank disallowed this. So that's what's facing Chinese bitcoiners.

BTW Arbitrage is time dependent. Up until two weeks ago my friends could fund their exchanges within 2Hrs!!! It takes me 3-5 days in Europe, Chinese will lose a huge strategic advantage.

So you dont think having them state that accounts will be frozen come the 15th, would cause anyone to sell?   That seems very realistic for someone that has a lot of money tied into this.

To me this whole thing feels like an orchestrated market manipulation via news channels to cause a price drop.  Similar to the news they scared everyone with back in February?

Not trying to be a jerk here, just asking a couple questions.

Take the poll: What will the USD price of Bitcoin be on April 15th?

https://www.surveymonkey.com/s/3JCCVP7

https://www.evernote.com/shard/s91/sh/a9a23621-85cb-44b9-8cdf-210c7a9efc7a/ad00a54b2e622f22c9a7bdbae559c234/deep/0/SurveyMonkey-Analyze---What-will-the-USD-price-of-Bitcoin-be-on-April-15th-.png (https://www.surveymonkey.com/s/3JCCVP7)

the exchanges that have been informed that its in their best interest to move accounts have already got new account and are changing the deposit details on thier website as we speak,
bitstamp, bitinstant, bitpay all had to change their banks too due to doing bitcoin related trading and guess what.. they did not cause this same hype!!


agreed its the fault of western media.. the issues china ACTUALLY and in REALITY have are unnoticable.. its purely media hyped up on acid.
the main problem is people, like your fine self try to research the true facts only via media stories. which makes you part of the problem, no offense. but if you read the updates on the exchanges and read the chinese press releases instead of western media's edits... you will see that exchanges are not having any big issues. they are still trading


your missing the key point. exchanges such as huobi and btcchina have now got COMMERCIAL bank accounts instead of CENTRAL bank accounts.
on the 14th an exchange is simply going to change its deposit details on their website.. from a customers point of view that is all that will change..
from the exchange point of view they credit peoples balances from any deposits from both accounts, and then only from the commercial bank account after the 18th.

simple as pie. nothing drastic will happen like a goxx theft or the closing of exchanges.

Really Frank? Did not know that, can you post a link?

As far as we know, most exchanges were circumventing via corporate (commercial?) accounts for past 3 months. It is our understanding that these corporate/commercial accounts will closed.

Moving "offshore" or at least overseas as some exchanges plan - Not sure how that will pan out?? (Longer IMT/Wire turnaround, potential for blocked overseas IBAN/SWIFT, etc)

I hope you are right mate and nothing actually happens and Chinese trade volume continues as normal  ;)

I could not agree more. When the dust settles, some self reflection may be in order. The west has gone full retard.

I panic-sold all my bitcoins when the price was still around 680-700, and now I'm glad I did. But I've been buying ever since then. I cannot forsee anymore panic-sells in my personal account, but maybe some panic-buys. Like if the price dips to $350 again (or even $300), I think I'll be frantically trying to buy.

That's bullshit. They're banning commercial banks. 100% sure about this. The exchanges are disallowed to store customer deposits in commercial banks.

this is true .... they will have to move to HK or Macau or Tawain or Singapore

Dont give a flying fried chikun about the CHINESE ..I really wish they would take there Specila fried rice and Crispy Skin Duck in plum sauce and

DUCK OFF and let us get down to the business of invesment & building the bitcoin network

Pure speculation & using it to funnel money out of their repressive regime .. DONT GIVE A FUCK !!!

The sell off is over, buy now or never...

$425 right now
buy now or never  ::)