Bitcoin Forum

I explained this view many times. Even the weathered players on the market are opportunists, vary on degree. Going to fall hard for days, not a splash-fall-and-back-soon. Price difference between China and Bitsamp is only 4.23% - last Government ban caused a 20% difference.

P.S. I reserved 200,000CNY for this predictable fiasco - at the time the price reach 4000, I think a Chinese ban flash-crash would reach 3300CNY so I placed bid there. It was triggered in the precursor cash (a few d ays ago when Bank of China romoured to ban), now with the real crash I wasn't prepared. Pity, because now I expect it fall below 2500CNY.

Every time your country panic sells, we buy.  Pretty soon, the majority of BTC will be back in U.S. hands.  And long term, the U.S. will have the predominate amount of bitcoin holders of any other country.

So yeah China, please keep panic selling.  The new currency war has begun!!  <insert dramatic musical score here>

 ;D

Finnaly reverse trade for USA

Indeed it is a buying opportunity. Unfortunately if all coins change hands, that justifies China government's fear of Bitcoin as a western ideology and thus is a road-block of the next 5 year's bitcoin development in the world - that is, if this government managed to exist for another 5 years.

lol @ value investors. The Chinese are the biggest bag holders of bitcoin, once the fiat restriction is confirmed by the PBOC they will all panic sell.

For now, $$$ prices are pretty ugly too.
Good news (from somewhere) will come and prices will rise.

China has no choice but to ban bitcoin, and anything else that allows the Chinese people to hedge their wealth internationally that can't be easily seized. If the Chinese government didn't have strict capital controls they wouldn't be able to keep the Yuan's value pegged to another currency.

The scary thing for government-backed currencies is that bitcoin(read cryptomoney) allows for capital flight, in a major way, from their currency in the blink of an eye... much faster than they could ever respond. Granted, the entire cryptomoney space isn't that big in global economic terms, but in a few years it may be big enough to allow for the possibility of complete collapse of a government currency in hours, or less.

Of course $$$ price is so beauitful (520) now, or how do you guys usurp the bloody Chinese coins? Arbitrageurs are shiping the coins nights and days to keep USD price down. Just keep buying, if you drop the ball the ball is dropped forever. There will be more Chinese coins to dump. I just don't feel right that the ban only caused 15% drop in price.

When I say 'bloody Chinese coins' I mean it. Quote myself:

You really don't have to let them in on that, you know!  :D  

Are you living on fkn Mars? It seems to me that everytime that China panic sells, Bitstamp panic sells 5 minutes later.

.....or am I missing something about that China lead $580 - $505 price slide?

Clown.  :D

That is very likly arbitrage that's going on.....  Force price down on Chinese exhange.. buy.. sell on others.. prices level out.. rinse repeate.

I understand the concept and realise that there will be individuals set up to take advantage of arbitrage across all the major exchange which is why traders on each exchange tend to follow activity on the other exchanges, cos if they don't act in accordance with activity on other exchanges, then the arbitragers will and will get bigger profits and they will lose. Considering that most trading is done by bots that will be pre-configured to respond to correlative price action on other exchanges, and this relationship becomes even concrete.

So, we have this very simply understood relationship between CNY Bitcoin and USD Bitcoin, yet there are still fkn clowns like Torque around who feel the need to hit forums with their defiant tough talk.....that completely flies in the face of the present and historic reality.

Ok, that's really it for me MattTheCat.  If anyone is a fkn Clown on this forum, it's you.  You throw your weight around this forum like you are some big shit, and constantly feel the need to level profanities at anyone you don't agree with.  Well fuck you.  I've watched you over the past several months botch trades, call bottoms that never came, fk up leverages that didn't swing in your favor.  Hell I'm no day trader, but I've cleaned your clock just selling at $850, patiently waiting 2 months (while you continued to day trade and barely scrape by), and buying back at $550 and again at $520.  No one here respects your opinion because you are always picking fights and acting like a complete asshat.

If you don't like what's going on in the bitcoin world or on this forum, then my advice is to get out of the bitcointalk forum, sell everything, fuck off and go back to snorting coke or whatever it is that you do for a fkn hobby.

Hey, just wanted to say, thanks for your contributions to this forum, it is great having someone from China speak openly across the divide. I always read your posts very closely.

I agree,but I strokethrough words I do`nt like and I do`nt use

Bitcoin will be 200 soon

damn

+1

LOL!

You wouldn't be so mad, if things were going your way and your little paradigm was intact......but they aren't, and it isn't and this will continue to be the case over the coming time period.

If I can help just one person here from being such a self-deluding retard, then I am doing the work that the good lord intended for me to do.

I bid you good day.

You might be better received with a little more tact.

I like being disliked.

You just go ahead and tell yourself whatever you need to to feel better.  Further, I'd offer a correction:  you're not disliked, you're not respected.

Thank you. I certainly feel encouraged, and thus made another more-in-detail post:
https://bitcointalk.org/index.php?topic=540358.new

For these bloody cheap coins nobody seems to care about the 'bloody' part and they only have 'cheap' in their eyes. But there is no better way to save Chinese players: if the USD trade doesn't buy from CNY sellers like crazy, it would be even worse off for CNY players. I know there is no way to prevent the majority selling off after a few days of doubt. Even worse, with the ban on depositing to exchanges, arbitrageurs will not be able to fill in, getting the coins off Chinese hands - this will cause a sharp price difference between USD and CNY, and the bloody coins will be lost even cheaper. So the best senario is for all the Chinese to sell off now instead of a few days later (since they willl do so anyway, now is better) and let arbitraguers ship the coins to USD buyers.

Caixin says they inquired and PBOC stafff confirmed the news:
http://finance.caixin.com/2014-03-27/100657253.html

The panic sell is going to go on, I believe many still have doubt in their little mind. Whoever didn't panic sell is going to be big losers, because they eventually will (as said, few are value-based investors).

If this does happen, the resulting redistribution of wealth should not be viewed as the justification for banning it. The west isn't forcing the Chinese people to sell at a loss. If your government prevents your society from advancing along with the rest of the world then you can't blame anything but your government when the rest of the world leaves you behind...

If China and the eastern nations were to ban gold and demand it be exported by a given date, the west would buy it up as quickly as possible. Would gold then be considered a product of western ideology just because the west now controls all of it? Obviously that won't happen but the parallels between Bitcoin and gold are numerous...

I hope the Chinese people can find a balance between loyalty and logic. Good luck, I think the global economy is going to code and China will be one of the first to notice.