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Question: What happens first:
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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 26369874 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (174 posts by 3 users with 9 merit deleted.)
solex
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March 27, 2014, 03:01:43 AM

bitcoin banned - confirmed.

Confirmed by whom? Proof or didn't happen, and not that shitty chinese news site that spread the FUD last time.

Tarmi is a known troll, dont concern yourself. Could it be legit? Yeah. But hes just a FUD spreader.

But do they have any real independent source?

http://www.cryptocoinsnews.com/2014/03/27/pboc-orders-all-chinese-banks-third-party-payment-processors-shut-accounts-15-chinese-bitcoin-exchanges-april-15th/
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bitgeek
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March 27, 2014, 03:06:48 AM

bitcoin banned - confirmed.

Confirmed by whom? Proof or didn't happen, and not that shitty chinese news site that spread the FUD last time.

Tarmi is a known troll, dont concern yourself. Could it be legit? Yeah. But hes just a FUD spreader.

But do they have any real independent source?

http://www.cryptocoinsnews.com/2014/03/27/pboc-orders-all-chinese-banks-third-party-payment-processors-shut-accounts-15-chinese-bitcoin-exchanges-april-15th/
I wonder why nobody there wants to take resposibility for the news. "According to reporters," = somebody told me he saw an alien, might not be true, but let's tell others.
CoinRocka
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March 27, 2014, 03:07:26 AM

bitcoin banned - confirmed.

Confirmed by whom? Proof or didn't happen, and not that shitty chinese news site that spread the FUD last time.

Tarmi is a known troll, dont concern yourself. Could it be legit? Yeah. But hes just a FUD spreader.

But do they have any real independent source?

http://www.cryptocoinsnews.com/2014/03/27/pboc-orders-all-chinese-banks-third-party-payment-processors-shut-accounts-15-chinese-bitcoin-exchanges-april-15th/

This wreaks of market manipulation at its finest.  Prepare to buy cheap coins along with Wall Street this time.
seleme
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March 27, 2014, 03:08:38 AM

I don't care a bit if it is banned. Buy some cheap coins and move on.
shmadz
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March 27, 2014, 03:09:51 AM



Greenland would be mostly underwater if the glaciers melted. It would be an archipelago.

uh oh, that's bad news.

.
.
.

bitcoin banned - confirmed.

Confirmed by whom? Proof or didn't happen, and not that shitty chinese news site that spread the FUD last time.

Tarmi is a known troll, dont concern yourself. Could it be legit? Yeah. But hes just a FUD spreader.

But do they have any real independent source?

http://www.cryptocoinsnews.com/2014/03/27/pboc-orders-all-chinese-banks-third-party-payment-processors-shut-accounts-15-chinese-bitcoin-exchanges-april-15th/


even more bad news???

in times like these, when the charts are looking like waterfalls of blood, I like to listen to this song ...

https://www.youtube.com/watch?v=8bRDFgmFFGE    <- may this be love - jimi hendrix
chessnut
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March 27, 2014, 03:11:02 AM

so if china "orders all bitcoin third party accounts to be closed" then the effect might be bitcoin withdrawals? if you dont want to mess around with fiat, just buy bitcoin and get out right?
FTWbitcoinFTW
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March 27, 2014, 03:13:10 AM

Quote
But do they have any real independent source?
This is a bullshit website, they just copy any reddit post with 100pt or more
chessnut
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March 27, 2014, 03:16:38 AM

looks to me like a big hidden order on BFX at 562.66
donut
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March 27, 2014, 03:20:19 AM

Everyone panic.

http://www.cryptocoinsnews.com/2014/03/27/pboc-orders-all-chinese-banks-third-party-payment-processors-shut-accounts-15-chinese-bitcoin-exchanges-april-15th/

China Central Bank just ordered ALL banks and third party processors to close any account connected to an bitcoin exchange.

This is it.
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March 27, 2014, 03:22:22 AM
Last edit: March 27, 2014, 03:47:23 AM by chessnut

Just bought at the bottom (so called) wish me luck  Cool

@562.66
el_rlee
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March 27, 2014, 03:28:01 AM

Everyone panic.

http://www.cryptocoinsnews.com/2014/03/27/pboc-orders-all-chinese-banks-third-party-payment-processors-shut-accounts-15-chinese-bitcoin-exchanges-april-15th/

China Central Bank just ordered ALL banks and third party processors to close any account connected to an bitcoin exchange.

This is it.

It's almost lunchtime now in China, and no trace of real panic on the Chinese Exchanges. -10% is not panic in Bitcoin world, so people move on, there is nothing to see here.
FTWbitcoinFTW
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March 27, 2014, 03:30:52 AM

Quote
It's almost lunchtime now in China, and no trace of real panic on the Chinese Exchanges. -10% is not panic in Bitcoin world, so people move on, there is nothing to see here.
This

If chinese trader would belive this shit, price will be lower than that.
KeyserSoze
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March 27, 2014, 03:31:49 AM

It's almost lunchtime now in China, and no trace of real panic on the Chinese Exchanges. -10% is not panic in Bitcoin world, so people move on, there is nothing to see here.

The fat lady is backstage warming up.
chessnut
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March 27, 2014, 03:33:10 AM

my moma always tought me to be greedy when chinese panic.
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March 27, 2014, 03:36:51 AM

 I believe she ate a whole live chiwawa and the opera has been cancelled.
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March 27, 2014, 03:37:01 AM

Here's a little reddit repost for you guys:

http://finance.jrj.com.cn/2014/03/27101116938690.shtml[1] In this report, the reporter claimed he called a person in charge of Huobi and BTCTrade CEO, both said they have received no notice from PBOC. Currently, they are doing business as usual.
JorgeStolfi
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March 27, 2014, 03:38:45 AM

so if china "orders all bitcoin third party accounts to be closed" then the effect might be bitcoin withdrawals? if you dont want to mess around with fiat, just buy bitcoin and get out right?
Bitcoins would be useless to most Chinese, I believe,  They already cannot use them for anything except trading.

If the news is real, I guess that most clients of the Chinese exchanges will want to sell at any price they can and withdraw their money.

The only buyers in the Chinese exchanges would be arbitragers, or more generally people or partnerships with accounts on both Chinese and Western exchanges.  They can buy cheap bitcoins in China and sell them for somewhat higher price in the West.  That will depress the price in the West to some extent, while in China it will go to zero.

However, if the ban on depositing money is effective immediately, those arbitragers will be limited to their current CNY balances in the exchanges, so the price in China may go to zero very fast.  In any case, I suppose that all the bitcoins held by the exchanges will be sold in the West,  on the open market or off it.

The price on Huobi is holding at ~3400 now. Are they thinking that the ban may be a hoax?  Or is arbitrage propping up the price?  Or only 7% of the Huobi clients have seen the rumor?
FTWbitcoinFTW
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March 27, 2014, 03:39:30 AM

Here's a little reddit repost for you guys:

http://finance.jrj.com.cn/2014/03/27101116938690.shtml[1] In this report, the reporter claimed he called a person in charge of Huobi and BTCTrade CEO, both said they have received no notice from PBOC. Currently, they are doing business as usual.

Tell me more about how exchange manager tell you always the true
JorgeStolfi
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March 27, 2014, 03:40:03 AM

Is Leah now reporting from China?  Wink
BubbaGumpShrimpinBoatCapn
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March 27, 2014, 03:41:21 AM

Here's a little reddit repost for you guys:

http://finance.jrj.com.cn/2014/03/27101116938690.shtml[1] In this report, the reporter claimed he called a person in charge of Huobi and BTCTrade CEO, both said they have received no notice from PBOC. Currently, they are doing business as usual.

And we trust bitcoin exchange operators now because exactly why?
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