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In spite of what the CNBC article says, there has not been, to my knowledge, any denial by PBoC of the Caixin article. Bobby Lee did not say that (did he?). If there had been such a denial, it would be in block letters all over the place. I found no new announcements on the Huobi and OKCoin websites. (Are there any?)
On the contrary, it seems that all major Chinese exchanges except BTC-China have had at least one bank account closed to client deposits, and they remain closed. However Huobi and OKCoin still have accounts on other banks that (according to the exchanges) have not yet received any orders in this regard.
One of the two banks used by Huobi that did block client deposits has set an April 18 deadline for blocking withdrawals too. So the only part of the Caixin report that was proved wrong, so far, was the date of the final deadline (which Caixin reported as April 15).
The market may be assuming that the bank situation will not get any worse. If that is the case, all exchanges should be able to function normally. (As long as they have one bank account open for deposit, the closure of other accounts should not make much difference, should it?)
We'll see.
What your comments suggest to me, Jorge, is that my initial reading of the December announcement was correct, and the consistent content of all the official statements of the PBoC confirm, that there is no prohibition on banking relationships with exchanges in China. The restriction is on banks taking on exposure to BTC, meaning they cannot have risk positions in BTC, nor can they denominate accounts in BTC. As all the fear mongering is rendered foolish, the result may be that every auntie and grandmother in China buys a bitcoin for the baby. About 200 million out of perhaps 200,000 floating bitcoin. The July bubble may be a second China bubble. The December bubble will be the ETP bubble, and much larger. And that would make so much more sense than "dont let our folks get them western bitcoins", since they are mining the shit out of them already, and it would be a wise move to keep the banks out of risk considering recent loan crisis that can still escalate |
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If only I followed by own projections of tops that I made, sometimes weeks in advance, I'd make so much profit, but I'm too chicken to sell into a btc rally. Last year's green candles will never be out of my mind.
Well if you dont do it I will, closing longs and shorting at 500$. By the looks of you recent posts I would say you are shorting from 440 already. |
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I wouldnt be surprised if China goes back on top of this liftoff
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Notice how little we have increased since the time when people suddenly became arrogant and exuberant.
Is that a sell or buy signal? |
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Elliot is waving from a train, yelling CCMF
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I thought all the MACD's were pointing down? What happened guys?!?  Line lovers are loudest when it goes sideways. |
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And who would sell in an uptrend when he holded during a 3 month downtrend
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In this thread we can find good people with valuable tips and advices for noobs (and everybody) like Rampion, and at the same time we find complete assholes, borderlines like Shroomskit.
Isn't this beautiful?
Its more like when a fly gets in your soup. |
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 Just drive, he brought it on himself |
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Old-school "experts" are often not qualified to comment on Bitcoin. Also, (some) Wall Street money is already coming in now.  Do you mean now or NOW, like its CCMF time? |
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I think nobody sold at 1200 either, it was on gox, and even those who did got goxed.
For plausible lying, keep it in 1000-1100.
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It recovered when it became evident that China won't be banning Bitcoin outright and now it's below $400 again. Any theories as to why?
If you know, What is the bitcoin, Then you'll know "Why is the BTC price dropping again" Please tell us "what is the bitcoin"... Try to make it funny, I hate it when idiot posts are boring |
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Lols , in my language his name makes perfect sense taur - bull , urs - bear. Had the impression it's touro in Portuguese "Ursus" and "taurus" are Latin; "Minotaur" is "Bull from Minos" in Latin, Anglicized. Even though bull is "touro" in Portuguese, the Minotaur is "MinotAuro". How did the latins spell "bitcoin to the moon" ? There were no latins |
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the last time I checked,the amortized mining cost of 1 bit coin was 700 dollars using the latest cheapest equipment. the overwhelming bulk of all coin mining is being done with the latest cheapest equipment, as can be easily inferred from the hash rate graph.
these coins will not be sold for less than $700 I can assure you
That's not really how it works at all. That's basically the sunk cost fallacy and the fallacious labor theory of value merged into one conclusion. Production costs do not directly cause price. Market price does naturally converge on cost plus a standard economic rate of return given stable demand due to changes in the supply function. But that is not a direct causal relationship to price. A miner would only rationally hold out for >$700 if he didn't anticipate needing liquidity prior to the expectation of that price arising. The marginal utility of dollars necessarily increases relative to Bitcoin if the miner has a pressing need for dollars. That was one of the most ludicrous strings of verbiage I have seen since the Sokal/Socialtext affair. Simple arithmetic refutes you outright. If I seek anything other than bankruptcy I simply can not sell coins mined today with the most cost-effective hashing hardware in the known universe for less than 700. If I am not holding my only rational choice is to sell the hardware to someone who will. Miners sell when they need to, even with a loss. Some of the biggest companies in the word operate with a loss sometime. A miner will keep mining and selling with a loss if he thinks that after a period of time in which he can withstand losses, the luck will change and he can make profit and cover those losses. |
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Some use tic based charts or even Renko etc...first I've heard of log, always learning something new. Perhaps cause we mostly trade currencies or commodities, changes happen in smaller increments and smaller tf
Perhaps you're just full of shit and now you embarrassed yourself. |
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I think its on purpose god damn it!
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As long as countries exist they'll be paying their workers in their local currencies and demanding taxes in their local currencies. Those are customarily quite large markets with motivated users.
Countries dont pay workers, employers do. And employers and workers can choose how they want to be payed. Some people are payed in btc for some time now. |
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