It's only midnight there and they were awake 3h ago when this happened
Why would they sell more, and why would they sell at all?
Why would you go to a store to buy goods which you can't take out of the store? Makes perfect sense. Well, maybe the whole point is to make Chinese volume less frenetic. less volume, less influence. their volume will probably go from 40% to 10-20% shortly It is better for us in the west. Thanks, China! The PBOC claims its actions are intended to make Bitcoin price less volatile. Ironically every action it's recently taken has created a huge short term dump. However, who's going to deposit Bitcoins to an exchange that's frozen withdrawals for the next month? If nobody deposits that's less Bitcoins China can dump to suppress the price. Bullish. Here is what have happened. During first meeting, one month ago, Chinese bitcoin exchanges were forced by PBoC directly or indirectly to sell part of customer bitcoins to suppress price. Of course, they were assured that the bank will financially compensate them if price moves in the opposite direction. Surprise, surprise, but not really. Price moved in the opposite direction! PBoC took huge loss and worst of all the exchanges now don't have enough bitcoin liquidity to meet customer withdrawals. So, the only logical step forward is to block bitcoin withdrawals under pretext that it was ordered by the bank for AML issues. If bitcoin price stays above $800 Chinese bitcoin exchanges are toast. PBoC will never truly compensate them. |
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by the way Error 502 on Kraken .... there is nothing more annoying when the party is on the move to be outside of the exchange.....
Too many people trying to login and buy cheap bitcoins. There won't be enough for all of them at current price. |
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BTC was rising too fast with no proper reasoning, this is the proper setback.
We need to implement new technologies and applications to the network before we can have a steady rise... lately, theses rises were just due to the bullish and delusional people that believe in the impossible.
For BTC expansion and major acceptance we need a stronger and bolder foundation, for now we are still looking if BTC should implement or not segwit, LN and other promising technologies if we are not implementing new solutions to the actual BTC problems the price shouldn't be rising like the last few weeks.
This dump was just a wake-up call(IMO), the price will surely increase in the future but we need to improve the technology first...
What are you blabbering about? Bitcoin price should be >$10000 by the end of this year! |
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In the end AML should be good for bitcoin.
Bitcoin central bank should be even better? |
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wow....this was really deep.... and i still wonder if we reached the bottom or we have more because if this ban is real then we have big problem i think...
Cheap bitcoins have never been a problem, it is an opportunity. |
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guys, no one is dumping its just normal market fluctuation
yeah. lol. bitcoin needs to get completely independent of china. Bitcoin needs to get completely independent of any central bank. It is high time we start using only decentralized exchanges or there will always be central bank extortionists. |
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since we are the last days on the 1000€ base what do you think regarding if it's a good time to buy or sell? any ideas where do we go from here???
There has never been such thing as bad time for buying bitcoin. Time is always good. Just buy it incrementally and use your own long term money you can easily afford to lose. |
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Edit: the bike is still 18.5 BTC right now ?!... You said you've sold out your bitcoins at the bottom during sell off yesterday. That is ~$45 less per bitcoin compared to current price! If your bike is worth 18.5 right now that means yesterday you've spent for it 19.5 bitcoins, right? Sold two right at the bottom (965 euro) and the rest @ 978. The bike is worth 18.5 BTC in The Netherlands, but like I said I left behind a Honda Fireblade 954 RR and some cash. But cleraly I'd have more euro's now if I had sold today or some time ago at 1080 euro / BTC. Ah okay, I got it now. Just wanted to be sure psychology is working as usual. You had to repay a loan that is why you felt sorry all the way from 1080 down to 720 euro for not selling your bitcoins at previous 1080 euro top. That is why when the sell off started yesterday you've got scared to not miss it again. And you sold at the bottom. People that have loans to repay are easily predictable. That is why it's soooo important to not buy bitcoins with borrowed money! |
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Edit: the bike is still 18.5 BTC right now ?!... You said you've sold out your bitcoins at the bottom during sell off yesterday. That is ~$45 less per bitcoin compared to current price! If your bike is worth 18.5 right now that means yesterday you've spent for it 19.5 bitcoins, right? |
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Consider me jealous, right now.
What for? Yesterday this bike was worth 18.5 bitcoins. Right now you can go to same dealer and buy same bike for 17.5 bitcoins. |
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Yes I dit! Not only have I paid off the loans I made for my initial investements, I have also paid off the loan I had for my favorite mode of transportation.Not exactly a boat, but it puts a smile on my face every time I ride it.
Don't forget to follow current bitcoin price and calculate how much you've lost every time you ride it! a ducati is worth it, especially this beauty he got. congrats.  Sure. The 10000 bitcoin pizza was very tasty as well. But now... well... |
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Yes I dit! Not only have I paid off the loans I made for my initial investements, I have also paid off the loan I had for my favorite mode of transportation.Not exactly a boat, but it puts a smile on my face every time I ride it.
Don't forget to follow current bitcoin price and calculate how much you've lost every time you ride it! |
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How many times has China banned Bitcoin?  It's pretty clear by now that PBOC is manipulating the market.
Since when are minor price movements in either direction equal to market manipulation? You haven't noticed how PBOC actions tend to coincide with major technical levels? Everyone was waiting for 7500 to break. Same happened with the Christmas / New Years rally. What PBOC is doing is just the start. The real fun will start when other central banks join the party. Expect ECB to be the next one. |
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I developed a web site that allows users to receive free email alerts when Ethereum price meet a certain price condition (based on kraken, e-btc and poloniex rates).
Which ethereum, the classic ethereum or the forked ethereums? BTW, when will be the next fork? |
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As a regulator you would have to be insane to approve a bitcoin ETF in current state Bitcoin ETF most probably won't be approved but that doesn't matter. We'll have just another short lived opportunity to buy cheap coins. |
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Since I live in Ecuador I always had to buy bitcoins via PayPal -> Virwox (It is way to expensive... ) In the past I have tried to buy with my credit card but could not find places that would accept my Master Card since it was issued in Ecuador. Now it seems that finally I would be able to use my credit card at Bitstamp and buy Bitcons see here: https://www.bitstamp.net/article/debit-cc-payments-bitcoin-now-extended-beyond-eu/These type of actions are bringing Bitcoin to more acceptability. Hooray! edit: does anyone know what would be the buying fees for the credit card transaction? Even if you find a place that you are allowed to buy bitcoin with cc, I'd recommend you don't buy bitcoins with borrowed money! |
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I'm not a real big fan of that bubble growth and burst stuff.
More healthy, slow and steady is something I would always prefer. Slow and steady growth is not possible. You can't have a slow and steady avalanche. So, get used to accelerated price rise as a result of avalanche-like adoption.. |
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So where was this $40 drop in one day that you are insinuating that happened? Wishful thinking... The sucker has sold out his miserable bitcoin stash and now dreams to buy back at lower level. Sorry fish... We are going to crash through ATH within 48 hours! |
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anyone else a bit baffled by this rally? seems to have just come out of nowhere  Organic demand is the name of what you see. More and more people want to have at least one bitcoin. Many day traders are baffled because TA is useless in this environment. |
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