 My trendline says we break out around $200 in October. |
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No this is actually NEW China news this time: They want to take down recharge codes and other deposit options, and before it was just bank transfers. For the first time, the situation is actually significantly worse now than it was in was in December. For a while we thought that Chinese exchanges would be able to continue doing volume by using alternative payment methods but now it is turning into a complete cut-off. I bet btcchina's ATMs will be taken down.
Your rendition of what is going on in China does NOT make very much sense- especially considering the extent to which bitcoin mining businesses are operating out of china, as well. China is going to be o.k. with the various bitcoin mining operations - whther related to the manufacturing of equipment and the actual mining itself? Just seems contradictory and illogical. Also, isn't there a little irony in the supposed May 10 date, which happens to coincide with the Global Bitcoin summit in Shanghai.... All seems kind of weird. Not sure how this is relevant. Yeah PBOC might not care about the mining operations. If you look at the news story, most of what the central banker expresses concerns about is the rampant market manipulation on chinese exchanges. He states how China's entry into bitcoin was inorganic and had nothing to do with bitcoin adoption or development. He describes how Chinese bitcoin trading is a battle between "makers" and is a "bloodbath" for the normal investor which gets destroyed as collateral damage. I have to agree with him there and appreciate what he is doing. So their main focus is to take down any kind of exchanges which do significant volume, to protect every day investors. If bitcoin was truly adopted then it wouldn't need these types of exchanges - it's all a game. |
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No this is actually NEW China news this time: They want to take down recharge codes and other deposit options, and before it was just bank transfers. For the first time, the situation is actually significantly worse now than it was in was in December. For a while we thought that Chinese exchanges would be able to continue doing volume by using alternative payment methods but now it is turning into a complete cut-off. I bet btcchina's ATMs will be taken down.
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I scrolled up but couldn't see where your second candle ends. Try to log your graph? Or do you need to log-star it? I put it in log scale and it still bounded at the same point on the upside. |
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 It's so straight... |
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These sudden dips are usually the best time to buy. Like 2 weeks ago, it dipped down to the 300's, then was back to 500 in hours. Got to be ready!
It's called mean reversion trading. This is the only strategy I used when I first started trading over a year ago. I didn't even look at TA on charts, I just watched for sudden movements and reacted quickly like a ninja. It was so simple and I was so much happier and more profitable back then. |
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[...]
Most of your discussions are backed with this fantasy where the whole world adopts bitcoin.
So where will it stop? When 10 more internet shops adopt bitcoin?. When 10 more Syrian exporters accepts bitcoin? When a new country get its bitcoin bourse? When the foreign workers in Dubai starts to send bitcoins home? When another country is shut out of the money transfer market? When another local fiat goes bust? I am just curious here. Where is the limit? When all the idiots like me already have a suitable stash of coins, and there are no more idiots? Bitcoin's growth has been an experiment, caused by bitcoin enthusiasts pushing to accomplish adoption, and then demonstrating the technicalities of how said adoption works, as a proof of concept so that the general public might follow along. When we run out of enthusiasts and the general public fails to actually use bitcoin services in any significant volume because they don't see enough advantage to it over fiat, then the growth has stopped. It could also stop if there is some sort of catastrophic failure, or if competition comes along. |
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actually the dump was predictable by the TA, its the pre-pump that confused ppl
+1 |
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So here is your last chance to get coins for <500.00
You will never see bitcoin prices much lower than this again. It might go slightly lower and may even retest the last low at around 350.00 but this is buy zone if you haven't already. You can quote me on this and thank me later when we are at 10,000 plus in a few short months. China is only an excuse and mars can easily be reached without her. Don't believe the hype.
Where have I heard that before? Oh wait, $600. I heard it at $800 and even $1000 |
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Yawn. Bit is an option to a brave new world. Some of its characteristics:
- Assuming 10 billion people, everybody has a quota of 2,000.
- No inflation
- No storage cost
- No confiscation
- Does not expire
- Your quota costs $1, or a little less. Previously it was $2, some time last year $0.05.
- If you want to be shrewd, buy the quota of others because they scorn it, and sell it to them when the price is right.
Anything that happens before just has to happen.
Most of your discussions are backed with this fantasy where the whole world adopts bitcoin. which crypto do you think they will adopt? We'll first off it's not even guaranteed that the world will adopt any form of crypto but if they do it might be something that is nothing like any of the current 'coins'. It might be non-blockchain-based and use some other technology that we can't even imagine currently. |
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Yawn. Bit is an option to a brave new world. Some of its characteristics:
- Assuming 10 billion people, everybody has a quota of 2,000.
- No inflation
- No storage cost
- No confiscation
- Does not expire
- Your quota costs $1, or a little less. Previously it was $2, some time last year $0.05.
- If you want to be shrewd, buy the quota of others because they scorn it, and sell it to them when the price is right.
Anything that happens before just has to happen.
Most of your discussions are backed with this fantasy where the whole world adopts bitcoin. |
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This volume should warrant a 2-3 day trap to $480 if there is no more news.
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There may be some brief Bull-FUD involving such a thing as this. However, I think PBOC has made it clear that they will go after anything that operates like an exchange and offers bitcoin trading en masse with volume to the public. Bitcoin's legality in China is probably intended only for hand to hand person to person transfers such as with localbitcoins.
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I think in China, the price was both above 505 and below 465 on friday.
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In another 3-4 week's time we will have our next bitcoin-is-not-banned-in-china Bull-FUD. Stay tuned.
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And the idiots on Stamp go oooommmmg total panic because China is dumping now i have to dump as well!!!
Yes that is how the arbitrage bots are programmed. |
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You guys are some crazy nutjobs sometimes to always think that everyone in the world has this secret fascination with bitcoin and a consipiracy to accumulate a bunch of coins and all the supposed lengths they go to do so.
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