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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: April 28, 2014, 12:02:40 AM
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?
It's still 28 days left If you're so lit up on risto that you quote him, I would assume you would read the bet conditions on another note: pulled my $425 order Not sure where this is going to be honest Insider trading. It's weird, sunday should be up. someone is dumping his coins on stamp Still no explanation for the drop to 2647 on Huobi. Edit: 2639! Edit 2: 2630!We'll definitely hear bad, bad news tomorrow. This is not going to end well... |
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154
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Economy / Speculation / Re: Price of BTC end of 2014
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on: April 27, 2014, 03:08:32 AM
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Somewhere around $200
Theres no reason for the average joe to invest in BTC. after gox, china, etc... everyone has lost quite a bit of faith in the technology. btc is supposed to be a currency, not a trading item built out of speculation. also it wont ever replace the tools we use in modern life. its a niche item where all investors feel entitled to become millionnaires, so ridiculous
Ohh  I wish ... They I could buy many cheap coins ... but this is relatively not really possible (not impossible either..) and let's not forget to mention that it will soon be banned in China, Vietnam, Russia, India (raid), prob. Japan and regulated in the US. IMO, it would take something phenomenal to bring BTC up to $5K. (Do you even realize how much fresh capital we need for $5K?) |
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155
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Economy / Speculation / Re: [CAIXIN] PBOC BANS ALL BTC FIAT CHANNELS (DEADLINE MAY 10)
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on: April 27, 2014, 02:41:54 AM
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Deposits will soon be removed from the Chinese exchanges, users will have some time to withdraw their funds, and this story will be behind us. Until ALL the Chinese exchanges stop doing business, this will continue to drag on. Can't blame them for trying what they can to continue on, but at some point enough is enough. They aren't allowed to accept RMB (CNY), and there is no financial innovation they can use to avoid it.
The future for China is a decentralized exchange which matches buyers/sellers and is hosted off-shore. The exchange will not touch fiat currency, only BTC. The BTC will be held in escrow as one party sends money to the other. When both parties agree that the Alipay / bank transfer has been received by the BTC seller, the BTC will be released to the buyer's address which they provided before-hand.
This business model is effectively impossible for China to regulate and will eventually lead to a full-out ban on Bitcoin. However, such a ban will be very difficult to enforce.
^^ Your model is probably the only solution left for Chinese exchanges. a localbitcoins-like exchange. Again, there's a few problems with the original exchange model (HK-hosted, transfer to HK) 1. Max limit of $50K transfer to HK exchanges yearly per citizen 2. Immediate 4% loss on any order/transfer between mainland / offshore (CNY conversion) (this is enormous!) Therefore it will be very tricky for the exchanges to bypass #2, unless they somehow find a way to do Escrow between citizens in mainland. And if they do find a solution, the workaround will prob. be banned again. Even with this solution, capital input with greatly be reduced (localbitcoins), as they just trade BTC between themselves. There's no new fresh money entering the market. To withdraw, you must find a buyer. To buy, you lose 4% off the bat It's a really fucked up situation up there After they all dump, we'll probably finally decouple from Huobi and return to pre-China bubble price (with the addition of new western infrastructure) |
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156
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Economy / Speculation / Re: Price of BTC end of 2014
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on: April 26, 2014, 10:56:51 PM
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Somewhere around $200
Theres no reason for the average joe to invest in BTC. after gox, china, etc... everyone has lost quite a bit of faith in the technology. btc is supposed to be a currency, not a trading item built out of speculation. also it wont ever replace the tools we use in modern life. its a niche item where all investors feel entitled to become millionnaires, so ridiculous
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159
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Economy / Speculation / Re: [CAIXIN] PBOC BANS ALL BTC FIAT CHANNELS (DEADLINE MAY 10)
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on: April 26, 2014, 08:03:40 PM
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http://www.weibo.com/2149945883/B1wQbdDTM?mod=weibotimeSince China Merchants Bank recently issued a notice, Bitcoin Chinese capital security considerations for users and platform stability operations, decided to suspend the account of RMB CMB recharge. Subsequent updates, stay tuned to our official website and microblogging, Thanks again for your BTCChina's concern and support bulletin Fiat deposit completely frozen for BTCChina now* Who cares? Ban it already. China is just repeating the whole 'isolation' mentality that impeded their growth for a good 1000 years. Besides, communist ideology and 'big brother" mentality is incompatible with long term innovation. As a result, more and cheaper BTC for us and cheaper miners as well. Perhaps, China is about to crash hard and that's why authorities are closing any possibility for the capital flight. Rich chinese simply will have to go to Macau to get rid of yuans for dollars. Thats also true. Things not going well in China Okay, the correct translation is this: Central bank bans fiat deposits AND withdrawals (cash), effectively killing all fiat channels related to BTC.
I'll have a translated version soon. Stay tuned
I believe someone already said "Shut up". -B- ill shut up after china is done with btc |
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160
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Economy / Speculation / Re: BTC China stops account funding
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on: April 26, 2014, 07:59:09 PM
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When did this come out? In the middle of the night on Sunday? Or has this been out a day or so? So is it now that we have a bad China news and it does not drop?
At some point that has to happen.
has already been out on China news for more than 12h. this is why it (already) has been priced in |
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