China putting capital controls on BTC! (lol)

[spazzdla]

Here comes the dip!!!  The idea BTC is dead.. no chance.  A nice little dip before we go back on bull track.

[helloeverybody]

Id quite like a decent drop from this supposed dramas. Would be nice to be able to stock up on some cheap cois. I think half the people i know would actually buy into bitcoin as well if they could get a chance at buying some coins at a lower price than weve been at for the last while.

[European Central Bank]

what the hell is in it for the chinese government to allow their exchanges to stay operating? they might get a trickle of tax. other than that it's storing up a giant potential future head ache. i'd prefer it if they'd shut the whole party down in 2013.

people can talk all they want about black swans, with no exchange bitcoin becomes even more pointless in china than it already is.

[spazzdla]

what the hell is in it for the chinese government to allow their exchanges to stay operating? they might get a trickle of tax. other than that it's storing up a giant potential future head ache. i'd prefer it if they'd shut the whole party down in 2013.

people can talk all they want about black swans, with no exchange bitcoin becomes even more pointless in china than it already is.

Shows fear, if they try to out right ban it, it tells the world, this is something non democratic countries fear.

[European Central Bank]

Shows fear, if they try to out right ban it, it tells the world, this is something non democratic countries fear.

i think it's something all governments and central banks fear deep down. the difference between china and most other places is that they'd squash it without hesitation and not really care what their public or anyone else thinks. there's probably only a few thousand people in china heavily involved with bitcoin versus over a billion who might pick up the scent at some point.

[mindrust]

Fuck it is already heading to 700$. I don't think we will see 300's but it will surely harm the price for a period of time.

I look it as an opportunity to buy cheap coins anyway. Thank you for the warning i will dump some of my position and hoping to buy them back at a lower price.

[podyx]

Any substance behind it or just FUD? Where can I read exactly what it is about?

[mixan]

Any substance behind it or just FUD? Where can I read exactly what it is about?

A thread was just deleted a second ago that had links to that China restricts anyone from depositing btc in to bank accounts or something to that effect.
Looks like the cat is out of the bag. They are saying it is going to dip back below last years prices too $220.
I came in at $240 in June last year with buying so this is really bad news if this is true.
The markets are feeling the effects of this news from China dropping the price by $45 all the sudden.

[mindrust]

You can read it here:

http://www.zerohedge.com/news/2016-11-03/china-prepares-impose-curbs-capital-controls-bitcoin

[European Central Bank]

Looks like the cat is out of the bag. They are saying it is going to dip back below last years prices too $220.

you've got an activity level like that and you choose to believe one lurking asshole about the price who posts hundreds of the same threads and has done for years?

let's see what happens first. and a terminal china purge on their exchanges is borderline inevitable at some point. better it happens sooner rather than later.

[podyx]

Thanks, I feel like it's not something that will stop price going up however.

Demand has been very strong lately

edit: Looks like we may already be headed back up. I would love to see a classic honeybadger move, rallying to $850 right now or something. That would be funny as fuck

[helloeverybody]

You can read it here:

http://www.zerohedge.com/news/2016-11-03/china-prepares-impose-curbs-capital-controls-bitcoin

these two are the same and say nothing about china banning bitcoin
http://www.forexnewsnow.com/top-stories/central-banks-beginning-drift-bitcoins-way/
http://thebitcoinnews.com/central-banks-beginning-to-drift-bitcoins-way/

These 3 are in chinese so i have no idea what they might say
http://finance.jrj.com.cn/2016/11/03155121660993.shtml
http://finance.sina.com.cn/china/2016-11-03/doc-ifxxnety7217527.shtml
http://business.sohu.com/20161103/n472231182.shtml


This is the only one that actually mentions anything but it seems to be hearsay
http://www.zerohedge.com/news/2016-11-03/china-prepares-impose-curbs-capital-controls-bitcoin

Weak hands and all that.

[podyx]

Does anyone know when the rumour became known? Was the price crashing before it happened?

[1Referee]

Whatever the (real) reason is for this drop, it's something I was waiting for. It's no coincidence anymore that each time the price goes up nicely, something happens where it results in the price going down again. I have done well by securing profits up to $735 where I am now waiting for the price to bottom out.

Also, Bitfinex trading is down with as reason being that they are doing some maintenance. This can cause a nice market shake-up in the coming hours. I am sure that people are holding their breath right now.

[erikalui]

Any substance behind it or just FUD? Where can I read exactly what it is about?

A thread was just deleted a second ago that had links to that China restricts anyone from depositing btc in to bank accounts or something to that effect.
Looks like the cat is out of the bag. They are saying it is going to dip back below last years prices too $220.
I came in at $240 in June last year with buying so this is really bad news if this is true.
The markets are feeling the effects of this news from China dropping the price by $45 all the sudden.

Edit:
THIS!
https://bitcointalk.org/index.php?topic=1669856.0

The threads were posted by Bots and it was reported in the Meta section. I wouldn't believe that we are reaching $220 again else many exchanges would shut down and bitcoin would be dead soon. It's already been a year since we are above $400-$600. I know the price is dropping now but I'm still staying positive.

[kwukduck]

With China restricting BTC this fake manipulated rally has finally ended.
With crypto 2.0 rapidly taking over the market we are bound to plummet under 500 within the next week or two.

Oh here's a kicker... all the fundamental issues that bitcoin has, and of which we were promised they would be solved... they are still there.

Time to move to the future of crypto and leave bitcoin behind.

Half of my posts and topics also get deleted quickly, censorship here is crazy. Gosh i wonder why that is...

[mixan]

Looks like the cat is out of the bag. They are saying it is going to dip back below last years prices too $220.

you've got an activity level like that and you choose to believe one lurking asshole about the price who posts hundreds of the same threads and has done for years?

let's see what happens first. and a terminal china purge on their exchanges is borderline inevitable at some point. better it happens sooner rather than later.

Did not check the member's track record so bad on me then.
And it does seem that those threads were deleted due to posting bots.
So I do apologize for that too.
But what else is to explain this sudden spike of the price if you are so certain it is not what has been reported by numerous news outlets?

[European Central Bank]

Did not check the member's track record so bad on me then.
And it does seem that those threads were deleted due to posting bots.
So I do apologize for that too.
But what else is to explain this sudden spike of the price if you are so certain it is not what has been reported by numerous news outlets?

i'm not doubting the veracity of any news, but even the semi confirmed stuff only uses the word 'considering'. they'll do more considering when it they don't know how to make it happen.

$220 is a ludicrous price target all the same. but you never know.

[Admiral_Bit]

Did not check the member's track record so bad on me then.
And it does seem that those threads were deleted due to posting bots.
So I do apologize for that too.
But what else is to explain this sudden spike of the price if you are so certain it is not what has been reported by numerous news outlets?

i'm not doubting the veracity of any news, but even the semi confirmed stuff only uses the word 'considering'. they'll do more considering when it they don't know how to make it happen.

$220 is a ludicrous price target all the same. but you never know.

Exactly, the chinese have considered banning btc since it started to hedge against the yuan. yet, nothing happened which actually endangered the btc eco system. this is steam talk without substance...

[BitcoinBarrel]

The Price is definitely tanking, but I'm thinking it'll settle around $550 which is a pretty solid figure for current market.