Bitcoin Forum

http://www.cryptocoinsnews.com/2014/01/12/warning-huobi-has-closed-personal-bank-accounts-system/

http://www.reddit.com/r/Bitcoin/comments/1v0wrz/warning_huobi_has_closed_their_personal_bank/?already_submitted=true


Huobi screenshot
https://i.imgur.com/k7tGZzR.jpg

i was under the impression that bank-accounts couldnt be used anymore in china to fund bitcoin-exchanges.

what the f*** is going on there? i dont get china!

whats all this voucher-stuff then all about when its still possible to fund huobi via bank-transfer?!

This is FUD.

Read it properly like this:

nor do I

last chance to get cheap coins,

Funny how the market sentiment resembles with these chinese news.

Lol don't speak too soon.

Great observation.  And who made this news?

I'm tired with China, China this , China that... screw them  :)

The question is: For how long?

Isn't it kind of fishy how huobi started that massive dump as soon as this was posted on reddit and such? I wonder if the traders at huobi are they same ones who orchestrate all the FUD and maybe even the good news also and they're just playing this whole market like a fiddle, ping ponging all the traders back and forth.

Good we don't need them.

http://www.coindesk.com/bitcoin-price-falls-btc-china-exchange-shuts-fiat-deposits/



So why doesn't BTCchina use a business account?

also Huobi used to have 2 deposit options: CEO's personal account AND business account. Today they have ONE deposit option, the business account. the number of deposit methods has now been reduced.

Usually exchanges have press releases and announcements on positive news. i.e. BTCchina adopting bitcoin vouchers. This Huobi news came out of the blue.

If you expect no other bad news in the next few weeks, you might be right.  But you'd be a fool to expect that.  Sell the FUD, buy the news.

i was under the impression that they only had a personal account. have they had the business account all along?

Agreed, but the question is what is a reasonable price for BTC if/when the Chinese exchanges get shut down?

china meh

When did the change occur, middle of the night on a weekend, or?  Bizarre timing.

Well, just a few hours until Monday morning business hours in Beijing.

Will be interesting to see how the Huobi traders react. (interesting to those of us who have dissolved our Bitcoin positions, an absolutely nail biting anxiety trip for the HOLDERS, at least those of them who aren't too dumb to recognise the significance of this).

Bears scream bad news, bulls scream that bears are spreading FUD and the news is actually good news.

The fact that accounts have to opened and closed, is BAD NEWS no matter which way you think about it.

China gov't will have their way with this soon.

What am I missing?  Houbi was accepting deposits to the CEOs personal account and now they aren't. Is that was you are saying is going to create an impending market crash?

+1. The Chinese seem to be playing puppet master over everyone now not just their own sheep (I mean people)! I kinda wish they would just get out of btc as they're screwing up a good thing!

BTC price should be heading north on the current good news overstock, newegg, new atm's etc.......

Fortunately things are not as simplistic as you are suggesting.

what the newegg news?

China still has me pretty spooked.  My hunch is there will be more bad news out of China before the month is out.  On the positive side, it'll probably be the only source of downward price pressure for awhile.  Elsewhere, we see increased adoption and generally a positive regulatory climate.

A friend of mine that frequents overclock.net forums told me he read Newegg was thinking of accepting BTC. They are even selling mining kits now, so this would not surprise me. Let me text him and see if he can link me to any news.

It doesn't matter. If the Chinese situation is affecting the bitcoin price in a negative way, all that means is that the long-term rise in delayed and people have more time to acquire triple-digit bitcoins.

Newegg mentioned that they might accept Bitcoin in a tweet a few months ago.  That's the only peep I've heard about it.

Short term, it most certainly matters.  This can make the difference between owning, say 100 XBT or 150 XBT.

So why doesn't BTCchina use a business account?

also Huobi used to have 2 deposit options: CEO's personal account AND business account. Today they have ONE deposit option, the business account. the number of deposit methods has now been reduced.

Usually exchanges have press releases and announcements on positive news. i.e. BTCchina adopting bitcoin vouchers. This Huobi news came out of the blue.

http://thenextweb.com/insider/2014/01/10/newegg-teaser-suggests-the-us-online-retail-giant-may-begin-accepting-bitcoin-soon/

I must be interpreting the guidelines set forth by the Chinese government, because I thought the fact that it was being operated off of a personal bank account was the whole reason the exchange has been able to run.  By it being switched to a business account (although it seems trivial), it seems like only a matter of time where deposits will stop being able to be made on that exchange?

Immediately converting bitcoin through a payment processor is not "accepting bitcoin." It is accepting fiat, both functionally and literally.

Newegg and Overstock are irrelevant.

You idiots.

There is a lag between the customer purchasing XBT, transferring XBT to a retailer, then the retailer liquidating XBT.  Alone, this will result in a price increase.  Basic economics.

Is this FUD or true that it starts Tuesday?

EDIT:  this is what I'm talking about..

Reportedly, China's central bank will begin on Tuesday, prohibiting personal bank account through recharge (company account temporarily restricted) to the BTC trading platform. The amount of each stock trading platform will handle domestic liquidation before Chinese New Year.

Source?

That's what I want to know. I can't find this in any of the articles, I think it's BS and trying to verify.

Ok.  Where did you hear it then?

BTC-e

All along, they used both accounts for a while.

lol the troll box? Great source for top noche information.  ;D ;D ;D

I see that now. Had I watched the comments just a few minutes longer I would have answered my own question. It's all BS there, bunch of retards on that site. ...some of it is so left field it's actually kind of entertaining to read what gets posted.

Huobi is tanking  ;)
Want to catch the knife?

Yep, Huobi is leading this sell off by a long way.

Ha ha! You two crack me up! It's time to jump aboard now FUDmeisters! Ha ha ha!!!  :D

FUD?
Sorry, but ignoring the fact that chinas bitcoin supporters will have a problem to acquire more bitcoins after jan 31, is not very wise.
Bitcoin will go up this year. That is very likely. But first we have to suffer the chinese exodus.

Yes FUD Branson. And I thought you were meant to be taking us out of Earth's atmosphere? Just remind me never to book a seat in your spaceship Buddy!! He he he!

Kids are not permitted in my spaceship. And german kids are even worse.

Guess you never sold when I told to then T.Stuart?

If you did, then you could have bought a good bit more Bitcoin than you currently have as Bitcoin was still around $930 when I advised you to take some profits.

Thing is, now is still a good time to sell. If you think that Bitcoin isn't going to go down a whole lot from here, then you are sorely deluded!

Deluded yet becoming increasingly manic, going by the tone of your above post.

China seem rattled

I've got a feeling .. down in my plums .. that China is going to take a great big dump on the market over the next few weeks.

I just successfully transfered money in using the remaining China Construction Bank account.

The real fun comes when huobi starts dropping not to due to gigantic dumping, but just drifts down on no volume due to no buying support (or if they stop trading).

Are you waiting until closer to the end of the month to buy? Should be a good buying opportunity right before D-day.

Since the business account is still available, I don't know what the fuzz is about.  ::)

I buy and sell whenever my TA says so - I don't wait for any particular time or price.  However, ever since the China incident, I don't take more than a 75% position, just in case the shit really hit the fan in China while I'm sleeping. Margin is completely out of the question. Once China is completely out of the market or the price crashes to levels where I'm confident that non-Chinese exchanges are actually supporting the price on their own then I will be able to take more convicted positions.

What is your TA telling you just now?

I bought in at $810, targetting $850 ish.

Reckon I am safe to go to my bed with Huobi getting up to any mischief?

1 hour, 4 hour, and 6 hour EMAs all crossed down. Daily MACD down. Daily PSAR down. Trendline broken.

The only thing you can hope for is some really damn good news before some other weirdness happens in China and slams us down another $100 or so.

A sell then I guess.......although I still see it hitting $850 before the next leg down......just a humble 5% profit is all I seek...not too much to ask is it?

Volume is pretty poor though on the most important market that I consider....Huobi....fk it...its a sell.

Edit: Nope, it aint a sell, Huobi is looking pretty positive in the immediate term.....Sell orders placed at around ~850, if they trigger when I am in my kip, then I will be happy with that.

Edit: Nah bollocks..its a sell....it might hit $850 but it probably has more chance of hitting $750 whilst I sleep....its a sell.

Looking at your short term trades recently, most of them have been spot on compared to all of the other analysis BS that I have seen. Neither bear or bull just looking to make a profit. 

Ye they good at it.

I am generally 80% correct on judging which way the market is going to go and the 20% of the times that I call it wrong, I am usually very quick to change my outlook. This may sound 'obvious' but many on here don't do this, preferring to be emotionally attached to their ultra bullish or bearish paradigms.

Where i am not so good is with market entry and exit.....I also have the bladder of a little girl when the winds are blowing against me and have pissed profits all down my trousers by losing nerve in these situations.

This sums up the current state of the market pretty well I think. Completely conflicted. :P

Ho ho ho!!  :D Come on MatTheCat... You've been making consistently wrong calls.

Yesterday I told you to jump on board when we were around 780 on Stamp. You ridiculed me, he he! But in the short term you missed it. Just like you missed the previous drop when I tried to remind you you were being too negative and that you should up your bids.

Not trying to tease you here but you've got to get your facts straight: for the past few weeks I believe you've called everything wrong. So all you are doing now is saying that there will be a big crash sometime in the future!  :D

I agree on the big crash in the future part.
Lets make another prediction myself, we will break the ATH some day.
Lets see if i 'm 100% correct on these 2 predictions.

Magic BTC-Ball says "It is Certain."

Prove it with a link.

Infact don't, u are full of shit. We were at 780 for about 2 seconds. I bought at 810, was hoping to hit 850, but sold at 825. It went to 835.

What can be proven is me telling you to take some profits at 930.....did you?

No, you didn't.

I been making money T.Stuart and u have been looooosing!

Lol @ MTC getting called out  ;D

I am waiting on the link.

Even if it is provided which it won't be.......I never buy on a plunge when I am expecting much worse to come at some point, but I will always buy on the bounce.

Disclaimer: Even if a link proving his assertion is found, T.Stuart recommends that I buy in at practically any price point and any chart condition. Even a stopped clock is right twice a day, that is all I am saying.

Point one - didn't heed call to buy (made in casual forum-speak  ::))

Point 2 - didn't make bids high enough on last drop

You asked for links MTC. Then you said you were waiting for them. There they are buddy!  ;D

Nothing you say counts though T.Stuart cos you say the same thing over and over again no matter what is happening in Bitcoin.

If you look at the charts closely, you will find that at the time u made that delirious 'FUDmeisters' post, Bitocoin was at 806. So from the time you made your 'buy call', Bitcoin dropped 26 dollars and has since currently went up 13 dollars.

And you are correct, my $600 buy ins have not come in yet. Instead we had a drop from 995 down to 760, But I am ready to be buy in at all the support levels on the way down, including $600.

Do I think we will see $600 again?

Oh yes.

Will I bothered if we don't?

No! I can make more money in a rising market than I can in a falling market so I will be pleased if I am wrong. One thing is for sure though, is that I won't be caught with my pants down like you have been with your $1000+ Bitcoins.

I'm glad you keep valuing my Bitcoins higher and higher. Thanks MTC!!!  ;D

BTC are worthless. They are nothing but vapour. It is only the market that gives them value and going by present day market rates, you have sorely overpaid for your Bitocin stash.

That is all.