So what answer are you waiting for ? If anyone asked Bobby Lee if during the AMA about this volume issue or something else about the Chinese exchnages ? Because if you indirect question is meant by "I mean there is no logic that halted withdrawals could influence volume at this magnitude, just look at the photo below", I could answer you that yes, it affected a lot. I mean, if you see that your exchange is getting audited seriously by PBOC and that you can not escape the funds out of it, I would personally not continue trading there since I could never see the funds again but I would obviously go somewhere else.
Theoretically, you won't lose your funds if you continue trading, just because withdrawals are blocked. If you are afraid that you would lose your funds, you would probably withdraw CNY because BTC withdrawals are halted. If everyone withdraws CNY from the exchange, price of BTC would be 0 or if could I say much lower than approx. $1000 per BTC. |
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I mean, as soon as PBOC started their investigation Chinese Bitcoin Exchanges turned off their fake volume engine We are not just talking about fake volume, fake volume == fake price == bad reputation == another Gox. We all followed what Chinese Exchanges was doing because of their volume, they were No.1, BTC/USD volume could not be even seen on the pie chart compared to BTC/CNY volume. Did anyone asked Bobby Lee yesterday during his AMA on Reddit about this volume issue? I mean there is no logic that halted withdrawals could influence volume at this magnitude, just look at the photo below. Bitcoin price and volume across Chinese Bitcoin Exchanges |
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2-factor authentication on e-coin.io is not working properly, it says "Verification code is invalid", I tried to sync the Google Authenticator, changed browser Chrome, Firefox, tried 10times with different verification codes, but still the same error message.
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A lot of people will be hit by liquidation price in the upcoming days. It's hard to guess who will be liquidated bulls or bears, but I can smell some hard moves. I hope that everyone on Speculation forum will make the right decisions, I wish a lot of luck to everyone and of course a lot of profit  |
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Only 3 digits baby  |
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That $700 ASK wall just shrunk from 7500BTC to 2500BTC, I think it's going to be eaten soon
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Waiting for someone to post the first moon, train or rocket pic like  And pictures with new lamborgini  Done!  Just imagine that is says Lamborghini and not Lotus |
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Waiting for someone to post the first moon, train or rocket pic like  |
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UPDATE: CnLedger here. The policy was drafted last year and will officially become effective starting tomorrow.
To help you guys understand it, here I link a wsj article which explained some contents of the policy:
http://www.wsj.com/articles/china-proposes-to-keep-online-payments-in-check-1438593958
This Central Bank's policy itself is not meant to promote bitcoin (of course). But it will push lots of people to start looking for better ways -- convenient, censor-less, and efficient ways to transfer money.
Bank transfer is known to be slow, expensive and cumbersome. That's why Alipay and Wechat Payment (Tenpay), the two convenient and (almost) fee-less tools are extremely popular. But now they're strictly limited by the policy.
It is clear that with this policy in effect, banks want to force people go back and use their already heavily criticized systems. But history never goes backwards. Without Alipay/Wechat-pay, Bitcoin is one of the only few promising choices left to the public. That's why I tweeted it. |
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I see you can't read either. Haven't gambled more than pocket lint on bitcoin since 2014. For the same reason I don't play street-corner shell games or Three-card Monte: Because not a sucker.
Then you are wasting your time on the speculation forum, this section is for the professional traders |
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it will not drive more chinise to bitcoin,there are also fee if thay want exchange btcoin to yuan,verification it is norm in modern world]
Better are news about chnise big bitcoin start ups,you can read on coin desk
This is 2016, no need to exchange BTC for Yuan to buy something online or to send someone money. You would be surprised how many unbanked are in the world. BTC is international, not only the part of the modern world, just think China and India and Indonesia, they have 780 million people without bank accounts. |
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^That's some serious professional charting, right there. What's that thingy sticking out from the top, right at the start? And that thinger sticking out from the bottom? Should we mebby tuck them in? looks ...unsightly It's even worse for you bears if I tuck them in |
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Triangle is broken  |
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Just think, if you are an average Chinese internet user, would you pay fee's and go through the hustle of verification and transfer with limits or you would use BTC? I think that answer is more than obvious.
To get around Capitol controls: yes You explained it much better than I did, thank you |
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Just think, if you are an average Chinese internet user, would you pay fee's and go through the hustle of verification and transfer with limits or you would use BTC? I think that answer is more than obvious.
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Gone are the days using Alipay/Wechat-Pay with no fee in China. Central Bank new policy to be effective tomorrow.
Mid/large payment must through bank account. Cannot use 3rd party like Alipay/Wechat to do free transfer above ￥5000($750)
Non-verified users can only transfer ￥1000($150) for the whole lifetime.
Bank UKey or Bank Apps are mandatory for any online payment above ￥200($30) source: https://twitter.com/cnLedger/status/748445824137342976Bullish if you ask me UPDATECnLedger here. The policy was drafted last year and will officially become effective starting tomorrow.
To help you guys understand it, here I link a wsj article which explained some contents of the policy:
http://www.wsj.com/articles/china-proposes-to-keep-online-payments-in-check-1438593958
This Central Bank's policy itself is not meant to promote bitcoin (of course). But it will push lots of people to start looking for better ways -- convenient, censor-less, and efficient ways to transfer money.
Bank transfer is known to be slow, expensive and cumbersome. That's why Alipay and Wechat Payment (Tenpay), the two convenient and (almost) fee-less tools are extremely popular. But now they're strictly limited by the policy.
It is clear that with this policy in effect, banks want to force people go back and use their already heavily criticized systems. But history never goes backwards. Without Alipay/Wechat-pay, Bitcoin is one of the only few promising choices left to the public. That's why I tweeted it. |
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Who else is tired of this 630 bullshit? We need 680 in the next 24h
$650 now. Perhaps someone was listening. Someone in China |
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Dragon want $700 2nite?  He's gonna have to get through those 2200 coins at $650 first. When BTC goes up, I don't see dragons, I see this scene It actually describes what is going on at that moment on BTC market, bears are on their knees, engines are roaring loud and what we had few moments before was a flat line like the ocean in the scene https://www.youtube.com/watch?v=jWcaAmTO2TEP.S. No, I don't use drugs nor I have visions or mental issues (Or I'm not aware of those) |
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