Inspections are not good if people used BTC for working around the capital controls.

We don't need any proof to believe that people buy and sell BTC off exchanges and that to do that they need to agree on the price - it is obvious that people do that. The question is how that constitutes manipulation.

How is that price manipulation?

I am pretty sure this post is a troll. It is even funny how many replies he gathered.

This is nice - we only need some more prestigious entity to join.

https://www.reddit.com/r/BitcoinMarkets/comments/5mlv40/the_fractal_relationship_between_bitcoins_first/

This is nearly exactly my thinking - target 30K. Of course in the meantime something can and actually probably will happen that will derail the process.

And by the way - what are this guys arguments in text? Who is he - just some random internet guy giving advice?

My target is $30 in half a year

Of course most probably even if it reaches that level I'll not have anything left, because I am too emotional trader, but based on previous bubbles this looks like a good target.

In the mean time it is very path dependent and who knows what can happen next - some other coin could surpass bitcoin, there can be some bug still hiding in the protocol or China could ban BTC for real. I cannot assign any probability to that prediction.

"PBoc detail: exchanges cant do offline promotion; no fake trade; Devaluation cant be mentioned; mandatory strong KYC "

https://twitter.com/cnLedger/status/817550313636798464

Looks like the government wants to know the real volumes.

"PBoc detail: exchanges cant do offline promotion; no fake trade; Devaluation cant be mentioned; mandatory strong KYC "

https://twitter.com/cnLedger/status/817550313636798464

http://www.coindesk.com/chinas-central-bank-issues-warnings-major-bitcoin-exchanges/ - so now we have authoritative translation.

Sell the rumour, buy the news?

Buy the news?

When I read the translation posted on reddit: https://www.reddit.com/r/Bitcoin/comments/5mczaz/this_is_important_shanghai_pboc_has_warned_btcc/dc2mc5l/ it looks like this is maybe partially ass covering for the authorities - i.e. if it crashes please don't blame us, we warned you, partially at officials using public funds to play the market and partially at enforcing the laws.

I see this being removed from this forum - but it is an important news, even though not as important as it was made at the initial reports.

http://shanghai.pbc.gov.cn/fzhshanghai/113571/3230012/index.html

Google translation:

"""
The People's Bank of Shanghai headquarters, the Shanghai Municipal Finance Office joint relevant regulatory authorities met with the Shanghai Bitcoin trading platform is mainly responsible for
??
The size of the small and medium - sized enterprises in Shanghai
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Recently, the People's Bank of Shanghai headquarters, the Shanghai Municipal Finance Office jointly with the relevant regulatory authorities met the bit currency trading platform, "Bitcoin China" is mainly responsible for understanding the platform operation, suggesting that the operation of the platform to ensure the stability of the local currency, The possible risks, requiring its strict accordance with the relevant laws and regulations, according to the law compliance business. Urged the platform in accordance with relevant laws and regulations to carry out self-examination and the corresponding clean-up and rectification.

According to the Notice of the China Insurance Regulatory Commission (CBRC) on Prevention of Bitcoin Risks, issued by China Banking Regulatory Commission of the Ministry of Industry and Information Technology of the People's Bank of China (YF [2013] No. 289), Bitcoin is a specific virtual commodity, Do not have the legal nature of the legal nature of coercion and coercion, does not have the same legal status with the currency, can not and should not be used as money in the market circulation. Institutions and individual investors should correctly view the virtual goods and virtual currency, rational investment, at their own risk, maintain their own property and establish the correct concept of money and investment ideas. (Finish)
"""

Update: Title updated to reflect the most recent translations and interpretations.

So the OP tried to be ironic and predicted accurately.

Now people don't even notice the text of the post, but just read the subject line and feel impressed.

Funny thread

It looks that CNY (in USD) is bouncing back hard - this might put some brakes on the crazy Chinese BTC rally.

The comparison people are drawing is between 2013 and the current year not the previous one.

Obviously it will not crash just around passing previous ATH - it will crash when it will reach 30 times previous ATH.

I can see most commenters here compare the behaviour near 2013 tops to what is happening now. But ware are not yet past the previous ATH - if the comparison is to have any meaning it should be about comparing now to February 2013. Personally I believe 2013 will come out as a good model for 2017. That would put the target for the top around $30K (30 times previous peak - just like 1000 is 30 times 30).

If it breaks the ATH after so long bear - then it will jump much higher than just 2000. 2013 is actually a good model here - breaking ATH was end of February then - look at the charts.

As for anonymity - have a look at http://www.google.com/search?q=TumbleBit

That was after it broke the previous ATH - we are still in the run up phase.