I really don't get it what does the community have to gain if Bitcoin drops another 50% ?
You will probably get more coins at the expense of new members in the community. Unfortunetly Bitcoin is about greed for most of the trolls here which fail to see that Bitcoin actually has improvements over the current financial system and is not just monopoly money.
And as many wise members said before, never trust nobody on the forum, not Tera, fonzie, MatTheCat or other vocal trolls. Its a fact that they are not posting in your interest and most of them have a personal agenda.
Trust only your judgement.
+1 Well said!  It is not 'well said'. He is making open accusations against specific forum members as being dishonest. |
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I really don't get it what does the community have to gain if Bitcoin drops another 50% ?
You will probably get more coins at the expense of new members in the community. Unfortunetly Bitcoin is about greed for most of the trolls here which fail to see that Bitcoin actually has improvements over the current financial system and is not just monopoly money.
And as many wise members said before, never trust nobody on the forum, not Tera, fonzie, MatTheCat or other vocal trolls. Its a fact that they are not posting in your interest and most of them have a personal agenda.
Trust only your judgement.
https://bitcointalk.org/index.php?topic=547855.0No agenda. I only evaluate the latest TA and correct irrational statements. I don't TRY to make the market move - I only predict a movement I believe was already occurring anyway. |
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hello,
1) just to say it's a plaisure to read you since few days, and see that you talk 99% about the initial topic. ( and not social, etc...Maybe the ''bet story'' wasn't necessary ;-) )
2) Why china rule the BTC world, and not the US ? Is it like this from the begining ?!
China inflated bitcoin 1000% with its trillion dollar shadow currency market, which does not exist in the U.S. |
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Since April 11 when we hit about $340, we went up above $540, then retested a higher support level of about $425 on April 28 and a second time today.
Here is my prediction:
75% probability that from here we are going up, and will test new support levels that are higher than $425... We will never see $425 again.
Despite what the others have said I applaud you. Whether you are right or wrong is not important, what is important is that you are posting positive things about Bitcoin (real or imagined) and this is very refreshing compared to all the negative threads we see everyday. Here we have a "true" Bitcoin supporter. Learn from this people! I think a bitcoin supporter should be someone writing code or starting a business. Not posting in Speculation. |
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I thought PBoC demanded a complete "cut off" of fiat transfers for BTC related activity. "Collectible items for collectors".
All Okcoin and huobi do is raise the fees and stop leverage trading? That's it?
I'm kinda lost here.
I guess people were expecting a lot more BIG negative news (like forced closure or something), but the announcements were a lot less serious than expected and price perfectly reflected that.
What is you think we are likely to see before the 10th May deadline? Will we be done with china?
You have misinterpreted the May 10 deadline. The deadline is only for banks to make statements. Enforcement action is not part of this and is being carried out separately by separate task forces that are being created. |
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Either way though the fact that we really haven't dropped on this news is leading me to question why we should presume that China has so many coins and there are 1000's upon 1000's of investors in China hanging on until the last second.
The reason we are not dropping right now is because we dropped way too fast on the caixin news already - we got kind of out of trend and have to make up for it.  |
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The title of the thread is misleading. Nowhere is there an indication that anything has changed in that they will be able to keep operating or not lose deposit methods, etc. No statement has been made by the PBOC or any chinese authority about this. It is entirely a creation of the exchanges themselves.
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I think this market has completely lost its mind.
Also has anyone got a link to the 10th being a day something is supposed to be happening? Only thing I can find is about a Bitcoin conference or something.
10th is supposed to be the deadline for all banks to make a statement, which most already have. It's also when Dan the EW trader predicted something would happen with EW. |
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I don't think China gov cares about asic miners - building miners is an actual good being produced, actual jobs being created, technology advancements, and money being pulled into the country with sales - often in fiat. I think what the China gov is mostly concerned with is the rampant daytrading on exchanges.
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The supply of BTC is extremely limited, and there are over 7.046 billion people in the world.
The Bitcoin ATM Boom can spark a HUGE Rally!
How soon? How high? (no one knows)
Will the Bitcoin ATM Boom be a primary cause of (or excuse for) the next Bull phase?
ATMs have been getting launched for nearly a year now, but they're not catching on because the fees are way too high and they have some issues I believe. Also, the average person looks at one and wonders why they would need such a thing. They'll probably be more useful once a rally has already started, it's all over the news, and people are in an urgency to hop on the train. |
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Dec 5th statement agrees wind..I just dunno how the PBOC sucks at enforcing it so badly.
I mean for the Chinese they have digested the good and the bad.. but I would agree they expect more bad...we'll see how Mother's Day ends up
The chinese businessman in the other thread explains it very well. Basically the PBOC is too big to typical involve itself with something as small as bitcoin (which shows how threatened they are by it). For this reason, because the PBOC communicates with only the top level bank officials, the top level bank officials feel its beneath their pay grade to deal with and it gets passed down and eventually lost, because the people authorized with the responsibility don't want to do it - its embarrassing for them. In it in fact the exact opposite of what many bitcoin enthusiasts imagine - bitcoin is actually TOO SMALL for the banks to want to deal with closing all the accounts. Here's the article: http://bitcoinblog.de/2014/04/28/chinese-banks-dont-know-how-to-act-appropriate-cause-bitcoin-is-too-tiny/ |
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@TERA and windjc - How much have you shorted?
I am not truly short. I only have paper trades to hedge against a portion of my cold storage. Technically, I'm long. When did you start trading and, if you bought 1 BTC when you started trading, how much would you have now? I started trading btc in march 2013. I'm confused by the rest of the question. Normalize your holding by your initial investment. What's your ROI? Did you buy once at the beginning or did you accumulate? My strategy was to daytrade like a monkey on crack. Mean reversion strategy mostly. I often held 0 bitcoins. My ROI now in fiat terms is 40,000%. My first btc purchase was at $100. |
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@TERA and windjc - How much have you shorted?
I am not truly short. I only have paper trades to hedge against a portion of my cold storage. Technically, I'm long. When did you start trading and, if you bought 1 BTC when you started trading, how much would you have now? I started trading btc in march 2013. I'm confused by the rest of the question. |
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@TERA and windjc - How much have you shorted?
I am not truly short. I only have paper trades to hedge against a portion of my cold storage. Technically, I'm long. |
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I thought we had learned by now already to only listen to what Chinese authorities are saying and to completely ignore what the exchange owners are saying. They are bastards and everything they say is engineered for their own personal profit only.
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So basically the 5 major exchanges have all agreed to tax HFT (which I assume would be a HUGE disincentive), to agree with all banks account bans, and to cut off leveraged trading.
So, in effect, aside from losing their bank accounts, the exchanges are now going to take away most of the incentives Chinese have to trade bitcoin.
So, I would assume this means that any Chinese person who has money invested in bitcoin because they simply want to trade it will now have reasons to pack their fiat bags and go home or into another market, and those that simply want to hold will stay.
I think we're talking about 95% of the volume. So is this volume real or fake.. cause half the bears cry that the flood of coins are coming.. but the if the volumes fake then we we're just being sheep? which one is it? cause then China's PBOC has clarified our greatest questions and soon we will see...Bullish if its fake.. Bearish if not ( and you believe 95% of Chinese bitcoiners we're traders) The Chinese hold millions of coins AND 95% of their current volume is fake. |
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So basically the 5 major exchanges have all agreed to tax HFT (which I assume would be a HUGE disincentive), to agree with all banks account bans, and to cut off leveraged trading.
So, in effect, aside from losing their bank accounts, the exchanges are now going to take away most of the incentives Chinese have to trade bitcoin.
So, I would assume this means that any Chinese person who has money invested in bitcoin because they simply want to trade it will now have reasons to pack their fiat bags and go home or into another market, and those that simply want to hold will stay.
I think we're talking about 95% of the volume. |
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Is the random Chinese pump the ideal time to buy? I would think of that as the worst possible time to buy, and the ideal time to buy would be when China is completely out of the system.
some how.. the part about China being complete out makes me think you're delusional, if not completely blind. it is in future tense clearly your point is that there will be no Bitcoin Exchange run domestically in China right? I am saying I highly doubt every Chinese soul will want to rid themselves of bitcoin There would be nothing along the likes of huobi, btcchina, okcoin, etc. There might be some small bucket shops with 100btc per day of volume whose sole purpose is for the every day person to buy a bitcoin, and not to be a daytrading exchange. |
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Is the random Chinese pump the ideal time to buy? I would think of that as the worst possible time to buy, and the ideal time to buy would be when China is completely out of the system.
some how.. the part about China being complete out makes me think you're delusional, if not completely blind. it is in future tense |
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Is the random Chinese pump the ideal time to buy? I would think of that as the worst possible time to buy, and the ideal time to buy would be when China is completely out of the system.
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