Bitcoin Forum

Am I only one here using google translate?

Look at giant volumes buying BTC to mainland China.

http://fiatleak.com/

Look at official weibo account of chinese central bank:

http://www.weibo.com/u/3921015143?topnav=1&wvr=5&topsug=1#1395409360529

Now use google translate and connect the dots...

Chinese are riping scared westerners off!

In fact central bank denies ban on bitcoin.

Who is running this "spread panic and sell" scheme?

UPDATE:

Congratulation ladies and gentlemans, now it is official, you have been Chinesed!

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

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One to rule them all https://bitcointalk.org/index.php?topic=501841.0;all

They love their anime don't they?   (Giggling like the PDB )

 【二维码支付业务和虚拟信用卡业务只是暂停，不会终止】人民银行将会同有关各方从技术安全、消费者保护、反洗钱、金融实名制等方面进行论证，以安全为底线，支持有关支付机构在落实相应消费者权益保护制度安排、保护支付资金安全等基础上，按试点先行原则开办相关业务，维护支付市场健康有序发展。



[Two-dimensional code and virtual credit card payment services business only suspended, not terminated] People's Bank will work with all parties concerned to demonstrate the technical safety, consumer protection, anti-money laundering, financial and other aspects of real-name system, in order to secure for the bottom line, support for payment agencies in the implementation of appropriate institutional arrangements to protect the interests of consumers, the protection and safety of funds paid on the basis of the principles set up by the pilot first-related businesses, maintaining a healthy and orderly development of the payment market.

I translated and searched the word 'bitcoin', but did not get it !!! Which part to read ?

I translated and searched the word 'bitcoin', but did not get it !!! Which part to read ?


Pretty sure that's the two dimensional code.

I disagree, all my base belongs to me, who cares about the Chinese.

Oh my, leave fiatleak.com open and look at volumes.
Chinese are buying BTC like giant rabbit eating carrots.

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Lets see how this thing will play out it is only 5:30 in the morning and soon will Chinese start waking up.

Great title  :P

Chinese gov't has been buying btc for awhile, while implementing measures to prevent mainstream people there from adopting. They will probably back off once they feel they have a large enough holding and enough control

http://i58.tinypic.com/bdo1sx.jpg

People on this side of the pond are definitely loading up too.

When this thing gets back up to 800+ where it should be at...

Imagine all these Chinese laughing when we hit that price  ;D

How do you know that ?

Geez.

http://fiatleak.com/

Thats incredible.

Its a nonstop pouring of bitcoins into China ... and nowhere else.

Just china.  Nonstop ... sheesh ...

-B-

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Okay so if the news from China was real, why is China buying all the coins while everyone else is holding/selling?

If the news was legit, the last thing the Chinese would be doing is *buying more*.

Apparently they know its not legit news?

-B-

Wouldn't that be a kicker.  ;D

On a side note, being able to see where coins are going in real time is indicative of just how innovative the Bitcoin protocol truly is for providing a transparent means of transmitting units of value.  Try something like this with the current banking system.

It's marvelous.  

What if China is sickened of USD as world reserve currency and want to open its closed capital markets anyway?
Cryptocurrency is inovative way to do it in 21 century.

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There was a thread a day or two ago from someone claiming to have inside information that the Chinese government was going to buy up a ton of BTC after crashing the price. I'm sure you can find it (it was on this forum) if you check. At the time I dismissed it as just one more rumor, probably nothing to it. But now I'm semi-freaked out. Definitely holding my BTC to see what comes!

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Trolls from 4chan?
I agree the recent rumors seem to be fake.

Fiatleak only shows bought coins so it would only prove a higher volume in trading. And it's common knowledge that most Chinese exchanges fake their trading volume. See BTC China on the vide recordings of the recent BitcoinSummit.

In all fairness, another quite possible (if not more likely) interpretation of this message is that CoinBase simply does not wish to risk the company's financial well being, by holding Bitcoins in any excess (excess defined: - an amount of something that is more than necessary, permitted, or desirable) and so they don't end up "holding a bag", as things are getting worse and worse for Bitcoin valuation. It might be their preference to "sit" mostly on cash and as far as I know, they have been having Bitcoin shortage, most of the time for the past few months, since the major downtrend from $1000's level started.

P.S. I would prefer to be wrong on this, but one has to agree, them (CoinBase) keeping saying that there is huge demand of Bitcoins from their customers, while the price keeps falling down for months now, makes very, very little sense.

Well if anybody knows about lame hoaxes, it's you.

Fiatleak shows ALL trades from exchanges it's monitoring.

Most of the Chinese volume comes from Huobi and is FAKE volume. So, while China buys a lot and is important, don't trust the numbers!

If this is true, then you can make lots of money.  Just play the other side.  You can always buy or sell.  If you see an imbalance, capitalize.  What's wrong with you?

#1: Those volumes are suspect.

#2: Last time I checked, crypto is not a chinese invention.

#3: When something crashes, chinese lose just as much as others, if not more.


Stop thinking overblown delusions and get in touch with reality.

My anectodal experience is that there is a huge demand in the US cash/face-to-face market. The past weekend a bunch of localbitcoin traders went out of the way to contact me asking if I could sell them more coins to replenish their dwindling supplies. All this while the price on the online exchanges is crashing. Go figure ...

China will work with all concerned government may regulate to protect consumers from anti-money laundering and other financial aspects of real-name system.

If China was smart they'd pull all their wealth out of the USD (= sell all our debt they own) and put it into gold /crypto instead. They could literally destroy the dollar and enslave this country over night.

People's Bank will work with all parties concerned to demonstrate the technical safety, consumer protection, anti-money laundering, financial and other aspects of real-name system, in order to secure for the bottom line, support for payment agencies in the implementation of appropriate institutional arrangements to protect the interests of consumers, the protection and safety of funds paid on the basis of the principles set up by the pilot first-related businesses, maintaining a healthy and orderly development of the payment market.

Yeah, and all other people are selling like idiots, because they think that the chinese will sell. How stupid is this?
When will the nervous asshole-traders finally realize that they're just making idiots of themselves?

Congratulation ladies and gentlemans, now it is official, you have been Chinesed!

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

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This is how you reap the profit from investments. You reap them from the weak-minded.

Hardly. They lend you money. You spend it on buying goods from China. Their economy grows.

If they turn to BTC they will still be sending you money. But it'll be going to a handful of early adopters and its deflationary so you won't spend as much.

The Chinese are focused on raising the profile of their own currency the renminbi. They've already done that to a large degree. It's climbing up the table of most widely used trade currencies.

Yeah but didn't we see some announcement that China will now stop increasing it's foreign exchange reserve holdings?  What's next?