Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[JorgeStolfi]

I guess I am confused by the "options". It seems like internationals are more restricted than mainland chinese, who seem to have all kinds of options.

Those options, except the vouchers, presumably will be closed if the ban is real.

There may be some problem that prevents using the same vouchers for both accounts.  Perhaps they fear that the mainland vouchers will be banned too in Mainland, and the international vouchers will be sold only outside the Mainland?

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[cbutters]

I guess I am confused by the "options". It seems like internationals are more restricted than mainland chinese, who seem to have all kinds of options.

Those options, except the vouchers, presumably will be closed if the ban is real.

There may be some problem that prevents using the same vouchers for both accounts.  Perhaps they fear that the mainland vouchers will be banned too in Mainland, and the international vouchers will be sold only outside the Mainland?

This was posted just now with a date of March 28, 2013... seems to fly in the face of any PBOC rumors. They intentionally posted this right despite recent "rumors"...

[JorgeStolfi]

So they are implementing a voucher system like they did for fiat deposits, but now we have vouchers for BTC instead.

Is it? BTC deposits do not need vouchers, I understand they are for yuan/usd/whatever. ("BTCC" is "BTC-China", not "Bitcoin".)

[seleme]

Vouchers were also included in PBOC rumour

[JorgeStolfi]

This was posted just now with a date of March 28, 2013... seems to fly in the face of any PBOC rumors. They intentionally posted this right despite recent "rumors"...

I read it as a preparation for the worst: closure of their trading business in china.  They would become an exchange sited in China but catering only to foreign clients.

They already had plans to expand their market overseas.  This may be part of it, precipitated by the PBoC rumor.

[seleme]

Haha... you can deposit and withdraw with banks = preparation for closing the business... is there a chance you could embarrass yourself more mr. academic?

[nwfella]

Regarding BTC China Voucher news..."Its a trap!!" :p

[podyx]

so is this good or bad??

[seleme]

so is this good or bad??

it reads good definitely but you never know what's going on over there.

[JorgeStolfi]

Haha... you can deposit and withdraw with banks = preparation for closing the business... is there a chance you could embarrass yourself more mr. academic?

They don't know yet if the ban is real. If it is a hoax, the mainland accounts will continue working with banks as they do now, which is what is said there.  If the ban is real, the bank accounts will be open until April 15 for withdrawals only, then the Mainland accounts will be useless.  The international accounts hopefully will not be affected because they can be charged only through international vouchers which are distinct from the Mainland vouchers.

[seleme]

Apparently, that btcchina news is hours old..

[ChartBuddy]

Explanation

[creekbore]

So they are implementing a voucher system like they did for fiat deposits, but now we have vouchers for BTC instead.

Is it? BTC deposits do not need vouchers, I understand they are for yuan/usd/whatever. ("BTCC" is "BTC-China", not "Bitcoin".)

I read it as vouchers for BTC, same as they had vouchers for fiat.
To be honest, I'm so over it -- the sooner we stop looking at China the better.

Except my apologies for the cretinous 'seleme' --- unfortunately most Aussies have a brain/mouth ratio of about 1:100...but by this time of day I imagine he's more drunk than usual.

[ChartBuddy]

Explanation

[Erdogan]

Goddammit I'm bitcoin's worst trader, today's masterpiece: I shorted at 487.

Simply doing the opposite of my decisions is one of the best indicators available

why do you keep shorting? we're like really close to bottom... we might even be below bottom.  

That's what I call a bullish sentiment. 

[billyjoeallen]

The snap back could be huge. Remember that whale-led short squeeze to $710?

[chessnut]

I am expecting a snap back none the less. the market hit a natural bottom after panic selling. this must take days to consolidate or reverse, and shorts are very vulnerable.

[magicmexican]

If we had any more confirmed bad news we would already know from the price, because the dump happens always 5+ hours before it goes public

[JayJuanGee]

The snap back could be huge. Remember that whale-led short squeeze to $710?

I don't know what to think. 

I have been considering whether there is enough BTC trade volume or if there is enough fiat on the exchanges.. but then when the price rise momentum begins, the fiat seems to come from somewhere - out of the woodwork and out of the blue....

On the other hand, dont we usually get BTC downtrends on the weekend.. especially if there is ambiguity (uncertainty) hanging over us?


I am quite surprised to be lingering in this $500 range... right where the truth of the poll questions outcome as "yes" is triggered every 30 minutes.

Currently, I am thinking that we may get down to $450, but maybe NOT much lower than that.. though I am probably going to buy at $480 or $470 b/c I have some insecurities and lack of confidence in y prediction about how low we may be going.  That's my current feeling of the down potential based on the current FUD hanging in the air... I am also thinking there is Nothing really to the rumor about any extensive BTC restrictions in China.

[ChartBuddy]

Explanation