FXBTC announcement. Guess this one caused the last dump. God helps us when BTCCHina and Huobi do theirs: Today, FXBTC site management as some of its peers, as a number of commercial banks received a phone call asking the bank to cancel the account as soon as possible, in order to strengthen the implementation of the central bank issued the notice bitcoin risk prevention work, and some banks have even asked tomorrow cancel the account, FXBTC clarify that the incident was not a rumor, the central bank issued a notice requiring any real commercial banks and third-party payment institutions may not provide clearing services for Bitcoin business, demanding the closure of funds between accounts all bitcoin related sites, FXBTC While it has been hard for the majority of users, offers a variety of prepaid withdrawals channels, but the requirements for the banks immediately cancel the account, otherwise it will freeze the requirements of the account, can not do anything, the company discussed and decided, at 0:00 on April 3, 2014 before no longer deal with the bank recharge after Sunday, suspend business banking Katy is currently TenPay recharge withdrawals yet to receive any notice, you can continue to use, the inconvenience caused to you we apologize. Dropping like flies. |
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I'd like to remind people that 2011's bear market is conveniently left out from this chart. Can't possibly happen again after all, can it?  Quote from this same thread: We have seen the ups and downs and have realized it all works out in the end.  This is the great delusion that markets bestow upon people, that a trend is invulnerable and "it all works out in the end" almost sounds like religious faith. I know that nothing I can say could possibly make you think otherwise, but still, please consider how you would react if Bitcoin slid 80% or 90% from here during the next 6 months. Even if the probability is small, are you ready for it? Because this has happened before, and it happened in this very asset (even if you tell me that times are "different" now – well, to compensate, the price is higher to begin with!). I remember that time well. At the time, there was a long-term log support trendline, too, that was being drawn by everyone in this forum. It was violently BROKEN:  And guess what? That break ended up being the best time to buy. But few bought, for few had money to spare, and many of those who did have given up on Bitcoin. I will tell you that all along this decline, there was plenty of good news as well. I believe Bitpay was created amidst the bear market for example. All I want to say is that eventually, all trends break. Prepare yourself for the improbable, because it is devastating to lose almost all of your wealth. Do not let your mind be compromised by Bitcoin cultists. Let this be a lesson from a former Bitcoin cultist who has made a fortune off Bitcoin by turning himself into a Bitcoin pragmaticist. |
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Why is the daily volume still ridiculous if compared to 2011/2013 bottoms?  It's because you are looking at Emptygox data. |
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Those employees have done us a disservice not blowing the whistle on this long ago. I would have liked to know that deposits were being used to buy 3d printers, roboters and cars.
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Who remembers?  |
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So when Gox goes down everybody sells on Bitstamp. When China goes down everybody sells on Bitstamp.
Are Bitcoin traders the biggest idiots on the internet or what?
When China is gone i bet they will find another failing exchange to follow so they can panic sell every day.
You forgot "sheep". Are you actually threatening people now? I guess something must have touched a nerve.  You all have been warned long ago. Warned of what? I'm not following. |
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That article doesn't make me feel uncomfortable. I called you a knucklehead because that's exactly how you act sometimes. You refused to say why this is relevant to today. You refused to acknowledge what others have said in response. You refused to concede an inch ever.
I didn't answer because I thought it obvious. It's relevant always so long as Bitstamp is a major exchange. Might interest people who deal with them (I do too for lack of better options). I didn't concede an inch because I see nothing to concede. Seems to me it is illegal in the same way as gambling and securities running outside of the US to have an exchange running outside of the US that does not comply with US regulations yet serves US customers. So I agree to disagree. Yet the guy who talks about it on that article specifically saying: Mr. Cohen said the Treasury Department is working with other governments and multilateral institutions to seek to draft consistent rules for digital currencies around the world. He said the international Financial Action Task Force, which sets standards for anti-money-laundering and counterterrorist financing practices, will later this year release a paper that will update common definitions for digital currencies and lay out potential benefits and vulnerabilities for the sector. I saw it, but I don't understand why them working on internationally harmonizing AML/KYC rules in the future would change the present regulations where exchanges must be registered. Are you assuming they will not enforce it until they come to an understanding with other governments? |
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That article doesn't make me feel uncomfortable. I called you a knucklehead because that's exactly how you act sometimes. You refused to say why this is relevant to today. You refused to acknowledge what others have said in response. You refused to concede an inch ever.
I didn't answer because I thought it obvious. It's relevant always so long as Bitstamp is a major exchange. Might interest people who deal with them (I do too for lack of better options). I didn't concede an inch because I see nothing to concede. Seems to me it is illegal in the same way as gambling and securities running outside of the US to have an exchange running outside of the US that does not comply with US regulations yet serves US customers. So I agree to disagree. |
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Not only are they subject to FinCEN civil monetary penalties, but knowing failure to register a money transmitting business with FinCEN—or fail to register with state authorities when required—can be a federal criminal offense." Mr. Cohen said the Treasury Department is working with other governments and multilateral institutions to seek to draft consistent rules for digital currencies around the world.
He said the international Financial Action Task Force, which sets standards for anti-money-laundering and counterterrorist financing practices, will later this year release a paper that will update common definitions for digital currencies and lay out potential benefits and vulnerabilities for the sector.
Game/set/match Mr. Seleme.  Where are they excluding non-US businesses from this regulation? It's the same thing as with the Bitcoin stock exchanges. As long as US customers are served, it is regulated by the US. But enough of this. None of us are lawyers I presume. It is funny though how people here shout everything down that makes them feel uncomfortable. I also like how wind feels the need to insult me for it. |
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Not true,
FINCEN already announced that they would go after the exchanges that haven´t registered about 2 weeks ago.
Google it.
They can go after any exchange that is based in USA or accept deposits and withdrawals on US soil. Fonzie's having a hard time with this one. I guess he thinks Obama might issue a military invasion of Slovenia to take over Bitstamp. Do you mind telling me why it is that non-US online gambling sites don't accept US customers? |
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When exactly will FINCEN block US Customers from using Bitstamp or have they registered in the meanwhile?
Covert elements of the US government are behind bitcoin, hence why China and Russia hate it so much. US will never ban it. I didn´t talk about a complete USA ban, i talked about USA blocking transfers to Bitstamp due to the fact that they are not registered with FINCEN. Bitpay wouldn´t work anymore... Coinbase.... Hm, why would Slovenian company be registered with FINCEN? Why would a Japanese company? It's illegal to deal with US citizens without following their regulations, no matter what country your business is in. |
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Huobi (!)
what the f is going on with the f-ing chinese? starting to get pissed with btc Should we just start ignoring the Chinese exchanges like we did Gox? Nope. You can withdraw BTC from Chinese exchanges. But feel free to ignore reality. |
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Given that all the CNY is being withdrawn from Chinese markets, where do you think all the China coins are going to go? Doesn't compute If they chose to get out of china why would they be selling? They can do that on chinese market til 15.4. (allegedly) Disproportionate amount of CNY withdrawn => lower price vs. non-chinese market => transfering coins to sell elsewhere for arbitrage. |
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Given that all the CNY is being withdrawn from Chinese markets, where do you think all the China coins are going to go? |
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Rather: the reason price is still up is because those who hold thousands of coins need other people to invest so that the price will go up. So they pay for ads and positive reviews, to keep spreading lies and hiding the uncomfortable facts.  If I were a paid troll, I would deny it, no? Silly question...
Tell me where I have "spread fear" without backing it up with argument.
Meanwhile I can tell you right away one of the lies that marketeers keep spreading: that "bitcoins will be extremely valuable because there can be only 21 million of them". The truth is that there can be an infinte number of cryptocoins, any brand of them is just as good for commerce as any other, and there is no reason to believe that bitcoin will be among the ones that will succeed if they do succeed.
I agree with you, and it is disgusting. The Bitcoin cultists of course will accuse anyone who does not share their opinion but is vocal about it to be some evil external paid shill. And oh look, at least one false accusation debunked: https://twitter.com/JorgeStolfi/status/450033671022444544 |
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Right, TA is better than FA because bitcoin is a stock. Or a commodity. Or a stock. Or a commodity. Not a technology. Got it. BTC is a currency. Bitcoin is a technology. Charts show you what is going on regardless of what you trade, currency/commodity/stock/etc makes no difference. What was your point again (if you have one)? My point is obvious. Stocks and commodities do not grow exponentially. So you think Bitcoin is the only thing in the world where you can draw straight lines on a log chart? |
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