Bitcoin Forum

"Hong Kong’s central bank has warned against investing in virtual currencies"

http://www.nytimes.com/2015/02/11/business/international/hong-kong-issues-warning-about-bitcoin.html?_r=1

Hong Kong central bank, not Hong Kong though.

One day after this was posted:
http://www.reddit.com/r/Bitcoin/comments/2vacxz/the_huge_smiles_on_these_migrant_workers_faces/

That is the title of the article.

You are right. It's a pity that for mainstream media, central banks and a country are the same and only. :/

Oh no a central bank gives out a warning lol

They always have our best interests at heart don't they, creating money from nothing causing our hard working paper to lose value.

This to me is a signal of hope and that they are starting to be fearful  8)

Sure man, send all your funds to Hongkong(Bitfdinex or OKCoin) , and go max leverage long, this is a one in a lifetime chance.
Smart Bitcoiners know to "be greedy when others, blablabla"


Edit: No, honestly, after that warning most likely a ban for the local exchanges will follow. That´s the way how they deal with it in China. An official warning is almost the same as a ban. If the exchanges don´t shutdown out of free will, they will be forced to do so in the next weeks.

You think that there will be a massive sell-off?

Big bank issues  a warning based on fake news... Nice...
Prepare to fall below $200 today. This will trigger some good'ole panic.
Nice event to short all the way to sub $100

I have no idea, but i would guess it will start slowly and cascade more violently within the next 2-3 days.

I wonder how the market will react if bitcoin goes to double digits.

With more panic and hate towards bitcoin.
This upcoming total collapse is what I've been warning people about for a long time.

There is no total collapse coming.

A wise man once said something i have seen to be true - “First they ignore you, then they ridicule you, then they fight you, and then you win.”

We are somewhere between ridicule and fight looking forward to what happens next  ;)

They do this all the time. China and Hong Kong.

Create panic by "banning" Bitcoin or issue warning against it, and then they keep accumulating more and more Bitcoins.
http://fiatleak.com/

great, now dump

Hong Kong’s central bank should investigate that incident, not give stupid warning >:(
And i bet they soon will ban bitcoin

But, looks like bitcoin price might went down below $200 soon

That sounds too pessimistic.

brace yourself, panic seller will make BTC falling again.
I hope BTC wouldnt drop under $200 ever again.

Aren't they always issuing warnings or 'banning' bitcoin. Anyway, it's just a warning and I'm not surprised given the recent thefts/ scams there. Bitcoin will keep moving on regardless.

I suppose this has something to do related to the MyCoin disappearance?

Well, what are they supposed to do, actually? Bitcoin is a completely new and unknown technology compared to the regular financial world and people still struggle to put it in a fitting category. Bitcoin is not regulated, it's decentralized and they can't possibly exert control over it. A central bank is best off offering such an advice, I guess...

They could simply ignore it.

The question remains what their actual task is. Is it to protect the citizens or companies of Hong Kong form something? Is it to retain control over the supply of financial vehicles - as ordered by the government? If it indeed was one of those things, they effectively are obliged to take a stand on this.

I don't think they have any explicit task to do except manage the supply of Honk Kong Dollars, and the tasks associated with it.
What they did was probably just a self initiated PR move to show Hong Kongers "The central Bank cares about us."

I have been looking for a thread explaining the drop from 221 to 214. Thanks to the OP this thread explains what caused it. This forum is great for getting the latest news.

even if there is no panic sell the price would still fall, thats what it was been doing these past couple of months.

Is there any reason for new people to enter the market right now?

Masochism is a thing u know.

this news was fake ,there were not scammed of any BTC
they were promised something like 300% profits for investing in a
BTC ponzi that issued them iou's in the form of coins that could not be withdrawn

same old scam dressed up a little differnt and it fools people every time ,everyone in
china already knew this was scam waiting to implode for the last 6 months or so

its hard to feel sorry for people when they throw their money to the first crook that promises
them hundreds of % of interest without asking how or why

You mean Bitcoin?