Not relevant because nobody in china is actually buying bitcoin. As I've explained previously, the volume on btcchina is primarily criminal traders (mostly americans) who have fled FINCEN regulated exchanges.
Where are you getting your data? And how do you come to this conclusion? Common sense. And: -Correlation with diminishing volume on FINCEN reg'd exchanges and increasing volume on non-reg'd -no trader fees on btcchina -btcchina encourages trading with oneself through awarding shares to high vol traders -btc ripe for manipulation due to fiat stuck on exchanges The rise of BTCchina corresponds with the overall rise of bitcoin. We aren't seeing a diminishing volume of the other exchanges. We are seeing Gox lose it's monopoly (thank God), but other exchanges like Bitstamp have taken up that loss in volume at Gox. I don't see how you can extrapolate that all this money driving BTCchina price is based on American criminals. I believe we are indeed seeing a market driven by the Chinese themselves. The ultimate answer though to your question would be a meta analysis of the BTCchina client database. An interesting meta analysis it would be. btcchina conveniently doesn't require much identifying data from its traders.  |
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Not relevant because nobody in china is actually buying bitcoin. As I've explained previously, the volume on btcchina is primarily criminal traders (mostly americans) who have fled FINCEN regulated exchanges.
lol you are so full so shit. I will be proven correct, eventually. Also, I preemptively accept your apology. |
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Not relevant because nobody in china is actually buying bitcoin. As I've explained previously, the volume on btcchina is primarily criminal traders (mostly americans) who have fled FINCEN regulated exchanges.
Where are you getting your data? And how do you come to this conclusion? Common sense. And: -Correlation with diminishing volume on FINCEN reg'd exchanges and increasing volume on non-reg'd -no trader fees on btcchina -btcchina encourages trading with oneself through awarding shares to high vol traders -btc ripe for manipulation due to fiat stuck on exchanges |
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Not relevant because nobody in china is actually buying bitcoin. As I've explained previously, the volume on btcchina is primarily criminal traders (mostly americans) who have fled FINCEN regulated exchanges.
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bitmit = bitpay as far as i am concerned.
Probably that's why your Ignore tag has that color. This is a possibility. |
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bitmit = bitpay as far as i am concerned.
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Registration is the first step. Doesn't necessarily mean compliance.
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Shopify is effectively acting as an exchange. Are they FINCEN compliant? If not, only a matter of time before they get shut down.
*edit*
and bitpay was also acting as an exchange, which is probably related to their recent shutting down.
Utter nonsense. You obviously don't know the first thing about FinCen regulations. Processing for the sale of goods is not a money transmission activity. Also, Bitpay has not shut down. Wow. Ok, then every single business that uses shopify must register w FINCEN and collect identifying docs like the exchanges. LOLOLOL. isn't shopify located in canada. I have no knowledge on this subject but do they even have to care about FINCEN when not located in US? yes if they are servicing US citizens, LOLOLOL. |
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Shopify is effectively acting as an exchange. Are they FINCEN compliant? If not, only a matter of time before they get shut down.
*edit*
and bitpay was also acting as an exchange, which is probably related to their recent shutting down.
Bitpay shut down ? In the process of doing so, within 4 weeks. Lots of posts about this. Bitpay is silent on the matter. But im sure eventually it will come out they were acting as an exchange without registering. READ THE FUCKING FINCEN GUIDENCE DOC! I have read it and obtained legal counsel on the matter. You are incorrect but keep spreading misinformation if it suits your agenda. SO have I. The key that everyone is missing is the word "BUSINESS". Pretty much anybody who is running a business must register. Ex) -You give your neighbor bitcoin for his car. NO reg required. -You give car dealership bitcoin for a car. DEALERSHIP MUST BE FINCEN COMPLIANT. -You give third party payment processor bitcoin which is then xfered to neighbor (as btc or fiat) for car. PAYMENT PROCESSOR MUST BE FINCEN COMPLIANT. Read the guidance, retards. |
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The bottom line is that if you are a BUSINESS accepting bitcoin, or you are a business converting or facilitating bitcoin transactions, then you must have a way of identifying the people whose bitcoin you are handling. So either Shopify needs to collect ID docs (or link to bank accounts), or all the merchants must do this.
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Shopify is effectively acting as an exchange. Are they FINCEN compliant? If not, only a matter of time before they get shut down.
*edit*
and bitpay was also acting as an exchange, which is probably related to their recent shutting down.
Bitpay shut down ? In the process of doing so, within 4 weeks. Lots of posts about this. Bitpay is silent on the matter. But im sure eventually it will come out they were acting as an exchange without registering. READ THE FUCKING FINCEN GUIDENCE DOC! You cannot avoid being an "exchange" simply by calling yourself a payment processor. lololol |
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Shopify is effectively acting as an exchange. Are they FINCEN compliant? If not, only a matter of time before they get shut down.
*edit*
and bitpay was also acting as an exchange, which is probably related to their recent shutting down.
Utter nonsense. You obviously don't know the first thing about FinCen regulations. Processing for the sale of goods is not a money transmission activity. Also, Bitpay has not shut down. Wow. Ok, then every single business that uses shopify must register w FINCEN and collect identifying docs like the exchanges. LOLOLOL. |
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Shopify is effectively acting as an exchange. Are they FINCEN compliant? If not, only a matter of time before they get shut down.
*edit*
and bitpay was also acting as an exchange, which is probably related to their recent shutting down.
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Bitcoiners suffer from extreme confirmation bias and the charts they concoct reflect this. |
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and Walsoraj's ignore button gets just a tiny bit darker...bye
Can't handle the logic bombs? I understand. Few can.  |
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Log charts are useful for illustrating the spread or adoption of a technology but not specific instances of that technology. Bitcoin is just an instance of something larger. And even if it wasn't, a log chart would be appropriate for spread or adoption, not price in fiat.
But isn't price in fiat pretty much proportional to bitcoin adoption? (assuming fiat value is constant) Fix your brain. |
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The top is $422.
/end of discussion
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Funny that they have the same sleeping habits as actual Chinese people in China. Weird.
It must be the same imaginary traders who are eating that ask wall on Mt Gox right now. I'm not denying that the manipulators have convinced a lot of stupid amurikans to do a lot of stupid trading. Fool. |
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Funny that they have the same sleeping habits as actual Chinese people in China. Weird.
Wouldn't appear real, otherwise. Fool. |
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It is quite interesting there is little to no volume beneath it like April. Nice chart.
It's based on Mt Gox though. Ahh, that's better. Is there a combined volume chart somewhere, or who's the leader now? Bitstamp? China? here is a look at bitcoinity's data for combined volume vs price: http://data.bitcoinity.org/#ccacdfdiaaSupports my theory that the criminals have fled FINCEN registered exchanges and are now manipulating the price elsewhere. Specifically, BtcChina, where there are no trade fees and trading with oneself is encouraged through awarding shares. LOLOLOL. Fools. |
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