|
JD can add lottery function as second biz line as it is already such a popular site. Lotto earnings can be split between lotto buyers, JD investors and a charity.
This will stabilise earnings for JD investors and keep JD provably fair and transparent. I.e. the lotto is a service paying a small regular income to JD investors as a bonus for keeping their investments longer.
|
|
|
|
The true situation is not reflected in the poll. That makes the poll rather ludicrous. Bitcoin is being traded in China, and will continue to be traded in China. The PBOC has determined that it is to be treated pari paribus with other commodities such as copper, oil, or rice. Exchanges are a high growth business. Whenever there is a high growth business in China, well-connected family members of powerful government figures muscle in. That's why okcoin and btcchina has their deposits cut off. Those businesses will either fail, or be converted to the follow the norms for commodity exchanges in China.
You could be right but for now I can't imagine china allowing a freely convertible currency. That could be devastating for the housing bubble there. |
|
|
|
Where is the answer "Bitcoin causes a civil revolt in China and the country is thrown into anarchy whilst fighting for a full democracy"  Good point. Duly added. |
|
|
|
$300-450 is a good price for china not being able to buy coins.
No offense to India, but I have a handful of friends that live there and I have been told that majority of that country is very poor with a small middle class and a handful of the wealthy. I don't think the majority would put to much into bitcoins.
The rich in India will have a major impact. The poor will do what they can to hang on. What exchange will the Indian rich use? Is it easy to wire money in and out of India or are their restrictions like China? . I don't know much about Indian currency controls. |
|
|
|
$300-450 is a good price for china not being able to buy coins.
No offense to India, but I have a handful of friends that live there and I have been told that majority of that country is very poor with a small middle class and a handful of the wealthy. I don't think the majority would put to much into bitcoins.
The rich in India will have a major impact. The poor will do what they can to hang on. |
|
|
|
|
Slight poll edit, feel free to change your vote.
|
|
|
|
|
The Chinese govt will either ban Btc outright soon or lose the war.
What will happen next?
|
|
|
|
|
If that person is cashing out via Btc e then technically Btc e should know who that person is.
|
|
|
|
the rats thing was just an analogy he used to explain what an S curve is it wasn't to compare bitcoin. You need to give it a chance and watch further were he analyses Twitter and Facebook Vertical growth period compared to bitcoin. The price is irrelevant to this topic, what you were concerned about is market saturation / peak growth a point which we haven't reached yet with Bitcoin.
vertical growth compared to bitcoin? bitcoin hasn't had any vertical growth. did you see my chart that I posted in my last post? how do you know we are not at saturation yet? just because your auntie and grandma don't use bitcoin then you assume we are not at saturation. Breaking news bud, they are never going to use bitcoin  if you seriously thnk they will, then you need to dunk your head a few times in bucket of iced water and then we continue below ok? FUD See https://blockchain.info/charts/n-transactions-total?timespan=all&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address= |
|
|
|
Mr abiodun will ROI. The rest, I doubt it. |
|
|
|
Eventually I would get run over, which is why this is not sustainable for me long term. I've told myself a few times, these are the last times I will day trade against fiat. But some of these broad movements were predictable enough, and I see no reason, while this market has such little liquidity and no good leverage trading platforms, to not take advantage. I am not overly risky with my strategy.
I don't know enough about the demographic and mindset of the average Chinese investor to comment on these things, really. As for big money, why not other assets? Is BTC not still highly speculative? Does government action matter not? I can't say this sounds particularly convincing to me -- sure, for some, but this all seems very, very speculative.
If the big guys wanted out, btcs would already be trading at less than $200 IMHO. AFAIK, there are no other viable investment assets in china. Btc is highly spec from the POV of regulation. The second worst case scenario has already happened in china. Other countries are unlikely to follow IMHO. I do see a use case for btcs from the POV of exporters, people with foreign accounts and the rich who want to get money out of china. From this viewpoint, I'm happy to hold long term. In the short term, I'm afraid volatility rules the day. |
|
|
|
Agreed.
I'm just one of these little day traders trying to figure out WTF is going on, and what news might come out regarding Chinese exchanges (and accordingly what weight people will give it).
In the short term, I agree that there is selling pressure. I can see why you might be agitated by my comments. You are short term. I'm not. You are worried about day to day or even hourly moves. I'm more like the next few weeks or months. BTW, I have never come across a really wealthy day trader. The guys that are rich are insiders, macro guys, the buy and hold guys and hedge fund guys. Don't get me wrong, some day traders do well, but on the whole they survive. They aren't really wealthy. This is just my observation generally and is the reason why I chose not to day trade. I have come across several wealthy traders in my life (energy traders, FOREX traders, bond traders, etc...). Traders are needed in order to provide liquidity to the market and for price discovery. Not everyone can be a "buy and hold" type person or there would be no liquidity in the market. If bitcoin ever becomes mainstream, there will actually be MORE traders than there are now since investment banks & hedge funds will have teams trading bitcoin on the open market. Not to mention there will be a robust bitcoin derivatives market as well. This should be obvious to anyone with half a brain. Nice. And I'm taking the bait. All those guys trading are living pay check to pay check. The guys that are making the real money setup the system that tells them how to trade. The wealthy guys are buffet, soros, chanos, Paulson, ackman etc... They pay day traders to execute their strategies. That much is obvious to my little half brain. Maybe I can learn from you. |
|
|
|
Also, if you are buying during a crash and then holding that is probably a buy and hold. Trading after the crash may be hurting your overall position. Just my two cents.  |
|
|
|
BTW, I have never come across a really wealthy day trader. The guys that are rich are insiders, macro guys, the buy and hold guys and hedge fund guys. Don't get me wrong, some day traders do well, but on the whole they survive. They aren't really wealthy. This is just my observation generally and is the reason why I chose not to day trade.
Where did their money come from to begin with? If I had money, I wouldn't be day trading. If I got in at $1, I'd be holding. I got in during the April crash and am up ~ 16000% since. You must admit, BTC/USD and altcoins are much easier to day trade than other markets. What pisses me off sometimes about the anti-trading crowd here is that many of them are comfortable with their BTC holdings. Those of us who entered much later are not. I am young and live pretty much paycheck to paycheck, so I never, ever could have gotten anywhere near where I am in terms of accumulation if not for trading. I don't understand why Chinese guys want to sell bitcoins and get CNY.
The smartest move would be spending all remaining on exchange CNY to buy cheap bitcoins. This will be the best investment in their life.
I bet the owner of BTCchina has already grabbed as much as possible BTC and has become the part of bitcoin elite.
Even if you need to convert some of bitcoins in CNY, you can just go to Hong Kong, sell BTC for USD and then convert it into CNY.
Yeah, that seems obvious. Bitcoins just became more scarce in China. For those that understand the nature of rising global demand for them, it's a no-brainer to convert all remaining CNY to bitcoin, send the bitcoin to cold-storage, and forget about it for a while. Especially for a citizenry under heavy capitol controls without any obvious non-overbought place to put investment capital, I would think taking this final near-term opportunity to snag bitcoin would be the obvious play. A no-brainer, huh? This is the standard bitcointalk bull talk. I suspect the average Chinese bitcoin investor does not think like this. I don't think avg Btc user in china is dumb. The dumb ones have already converted. The remainder will see Btc as a hedge. They have foreign accounts or know someone that does or are planning to travel. Btc going underground in china will be interesting because we could see a full Btc ecosystem emerge. Cny for day to day stuff. Btc for foreign investments, gambling and other purchases. No one with this outlook has demonstrated an understanding of Chinese investors, the degree of importance of CCP's position to them, or how this will unfold -- clearly the situation remains unresolved. How do you know that a) the "dumb ones" have already converted, b) the remainder will see BTC as a hedge? And what are those proportions? It's funny because previously I recall so many perma bulls saying regulation will drive the price up -- now prohibition will. (No comment) No need for getting personal. This is a speculation thread. My opinion is as valid as yours. OTOH I'm not hostile to your views. I don't see why you should be hostile to mine. It's called a discussion. Just chillax a little. Btw, I'm not bullish on china. I just think that the selling pressure has probably moderated. I don't think we are going to see china push btcs up from here. I do see the big guys in china with the real mullah holding however. I see growth in the ROW. See: www.bitcoinpulse.com. A 7% weekly growth rate in wallets imply a doubling of wallets in ten weeks. I don't see that kind of growth in any other sector on planet earth. Huh? All I did was bold the phrase that was being ignored. The bullish perspectives I was referring took no effort to relate to the situation of Chinese investors -- only repeated the longstanding long term bull position espoused by many here. I don't see why you would take this as hostility. I'm sorry you live pay check to pay check. Overall, you could still be hurting your future profits by eating your current profits. From the perspective of a weekly compound rate of 7% in wallet growth. I'm holding at least ten weeks for wallets to double. One of the reasons why I think the little guys have already converted is because they believe the CCP will ban cny conversions. These guys have already acted. Why would the remainder stay? To understand you have to see the world through the eyes with the big bucks, have foreign accounts and are running export businesses. Imagine you are friedcat. Would you convert to useless cny? I think not. You need some to pay rent, wages and electricity. But the rest of it you want in btcs. Why? Tax free and easily moveable offshore if the proverbial hits the fan. Plus Btcs are likely to appreciate given current wallet growth rate. Same logic applies to other chinese exporters. |
|
|
|
Agreed.
I'm just one of these little day traders trying to figure out WTF is going on, and what news might come out regarding Chinese exchanges (and accordingly what weight people will give it).
In the short term, I agree that there is selling pressure. I can see why you might be agitated by my comments. You are short term. I'm not. You are worried about day to day or even hourly moves. I'm more like the next few weeks or months. BTW, I have never come across a really wealthy day trader. The guys that are rich are insiders, macro guys, the buy and hold guys and hedge fund guys. Don't get me wrong, some day traders do well, but on the whole they survive. They aren't really wealthy. This is just my observation generally and is the reason why I chose not to day trade. |
|
|
|
I don't understand why Chinese guys want to sell bitcoins and get CNY.
The smartest move would be spending all remaining on exchange CNY to buy cheap bitcoins. This will be the best investment in their life.
I bet the owner of BTCchina has already grabbed as much as possible BTC and has become the part of bitcoin elite.
Even if you need to convert some of bitcoins in CNY, you can just go to Hong Kong, sell BTC for USD and then convert it into CNY.
Yeah, that seems obvious. Bitcoins just became more scarce in China. For those that understand the nature of rising global demand for them, it's a no-brainer to convert all remaining CNY to bitcoin, send the bitcoin to cold-storage, and forget about it for a while. Especially for a citizenry under heavy capitol controls without any obvious non-overbought place to put investment capital, I would think taking this final near-term opportunity to snag bitcoin would be the obvious play. A no-brainer, huh? This is the standard bitcointalk bull talk. I suspect the average Chinese bitcoin investor does not think like this. I don't think avg Btc user in china is dumb. The dumb ones have already converted. The remainder will see Btc as a hedge. They have foreign accounts or know someone that does or are planning to travel. Btc going underground in china will be interesting because we could see a full Btc ecosystem emerge. Cny for day to day stuff. Btc for foreign investments, gambling and other purchases. No one with this outlook has demonstrated an understanding of Chinese investors, the degree of importance of CCP's position to them, or how this will unfold -- clearly the situation remains unresolved. How do you know that a) the "dumb ones" have already converted, b) the remainder will see BTC as a hedge? And what are those proportions? It's funny because previously I recall so many perma bulls saying regulation will drive the price up -- now prohibition will. (No comment) No need for getting personal. This is a speculation thread. My opinion is as valid as yours. OTOH I'm not hostile to your views. I don't see why you should be hostile to mine. It's called a discussion. Chillax a little bro. Btw, I'm not bullish on china. I just think that the selling pressure has probably moderated. I don't think we are going to see china push btcs up from here. I do see the big guys in china with the real mullah holding however. I see growth in the ROW. See: www.bitcoinpulse.com. A 7% weekly growth rate in wallets imply a doubling of wallets in ten weeks. I don't see that kind of growth in any other sector on planet earth. |
|
|
|
As a western 20-something year old Bitcoiner, let me tell you what those Chinese people really are thinking. Didn't we have enough of this nonsense on r/bitcoin?
Bitcoins are not consumed. They can only be held and sold.
Rationalize it all you want, making an asset less liquid is bearish. Making an asset more liquid and accessible is bullish.
Same goes for cny. And cny production is greater than Btc. The rich guys already have heaps of cny and apartments. |
|
|
|
I don't understand why Chinese guys want to sell bitcoins and get CNY.
The smartest move would be spending all remaining on exchange CNY to buy cheap bitcoins. This will be the best investment in their life.
I bet the owner of BTCchina has already grabbed as much as possible BTC and has become the part of bitcoin elite.
Even if you need to convert some of bitcoins in CNY, you can just go to Hong Kong, sell BTC for USD and then convert it into CNY.
Yeah, that seems obvious. Bitcoins just became more scarce in China. For those that understand the nature of rising global demand for them, it's a no-brainer to convert all remaining CNY to bitcoin, send the bitcoin to cold-storage, and forget about it for a while. Especially for a citizenry under heavy capitol controls without any obvious non-overbought place to put investment capital, I would think taking this final near-term opportunity to snag bitcoin would be the obvious play. A no-brainer, huh? This is the standard bitcointalk bull talk. I suspect the average Chinese bitcoin investor does not think like this. I don't think avg Btc user in china is dumb. The dumb ones have already converted. The remainder will see Btc as a hedge. They have foreign accounts or know someone that does or are planning to travel. Btc going underground in china will be interesting because we could see a full Btc ecosystem emerge. Cny for day to day stuff. Btc for foreign investments, gambling and other purchases. How else can one play Satoshi dice, move large amounts of money overseas instantly or buy stuff overseas with less detection? In a land where empty apartments are used as savings, btcs aren't necessarily a bad option. |
|
|
|
May I suggest roulette sounds? Absolutely! Added to our backlog! Any other suggestions on Roulette? We are currently working up a plan to add a progressive feature to Roulette to encourage more action! Add keno/lottery. One for hourly, one daily, one weekly. Charge 1% fee or an appropriate amount. Show bet amount and payout amount prominently. |
|
|
|
One of my friends is into bitcoins and other alternative coins and he is using this service. www.cryptodeposit.net He invested about 5 btc. 3 of them he already got back with some % in profit and he is now waiting january for next withdrawal. If you verify your indentity on cryptodeposit.net then you will get nice bonuses and stuff but my friend has not yet did that he is using normal account because he said that there is some sort of payment for verified account or something. And I checked on google and internet and I see that there are response from people about this service and its pretty nice, so anyway there is this referral system and my friend sent me it, i've invested now about 0.6 btc and in january I should be able to withdraw. you can also invest other coins like litecoin or feathercoin etc. And they have more services not only investments but some other as well..but am sharing this with u now since u are looking for something like this I suppose. btw account creation system reminds me of a way joining a golf club but it seems secured that way from spam and bots. Oh you didnt know this before? This is good service, as far as im concerned it is not a scam. Ive been using this for a while now, I have personally invested 0.5 Bitcoin , and so far so good. Btw response from users has been so good and I personally have verified real account, I recommend it. The membership fees you talking about are not actual fees. There is no membership fee for cryptodeposit.net , they have license for real account users which makes this whole service safer and spam/bot free. Now that Bitcoin price fell cryptodeposit is growing and it is possible for it to become something big in this Bitcoin community. Yeah this is something I was looking for and it looks pretty good. Applied for account today, how long need to wait for confirmation? Now you're just ignoring all the friendly wise advice... Hmmm. I wonder how this will turn out in the end? You do realise in Btc world, bernie madoff can't go to prison? of course he can ,pirate@40 is being prosecuted for stealing btc anyone else who gets caught will probably also be charged withh theft or fraud Good point. But for every person caught it seems like 999 get away. Cloudhashing charges $80 per ghs for their "gold" contract. What a joke. Weexchange has so far lost 96% of people's funds. How many exchanges have closed already? Some guy called shakura nabbed 2,200 btcs. Yifu from Avalon didn't give refunds and allegedly used customer equipment for mining. Bfl "slow" on hardware delivery, as in one year slow... (Reach your own conclusions on slowness.) I'm just scratching the surface, if you know what I mean. It's a little bit caveat emptor around here. |
|
|
|
|
Show Posts
