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Bitcoin_is_here_to_stay
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April 25, 2014, 03:33:33 AM |
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In the meantime, classic accumulation happening at Second Market. They have some 105 000 BTC already.
This thing is going to blow up our minds when it explodes. And it might be soon, this looks to me like 140s last summer.
While I agree SecondMarket it one of the better indicators we have, you do recall it took a while to take off last summer. Well, it can take much much longer still. On one hand it is reassuring SM is buying - on the other hand they have a record of buying at the worst moments. This is passively managed fund, individual retail investors decide when to buy |
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"Bitcoin: the cutting edge of begging technology." -- Giraffe.BTC
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shmadz
Legendary
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Activity: 1512
Merit: 1000
@theshmadz
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April 25, 2014, 03:34:17 AM |
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whenever I get bullish same shit happens last few weeks  no worries dude, just relax and "let your backbone slide" https://www.youtube.com/watch?v=6BxUUjSpuq0 |
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ShroomsKit
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April 25, 2014, 03:34:45 AM |
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No idea what it is. But does it surprise anyone that it happened while we were going up. It's like Chinese Paypal. I see. Fuck China. Really can we please just stop following them. This is insane. |
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wachtwoord
Legendary
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Activity: 2324
Merit: 1125
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April 25, 2014, 03:34:53 AM |
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Bitcoin traders...what a bunch of idiots.
We are really. We should all be full in fiat Bitcoin and wait for China to completely fuck of from Bitcoin world. not care about things that don't matterFYP |
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seleme
Legendary
Offline
Activity: 2772
Merit: 1028
Duelbits.com
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April 25, 2014, 03:36:09 AM |
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Bitcoin traders...what a bunch of idiots.
We are really. We should all be full in fiat Bitcoin and wait for China to completely fuck of from Bitcoin world. not care about things that don't matter FYP They matter unfortunately, we're under Chinese mercy for months now. |
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wachtwoord
Legendary
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Activity: 2324
Merit: 1125
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April 25, 2014, 03:37:20 AM |
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Bitcoin traders...what a bunch of idiots.
We are really. We should all be full in fiat Bitcoin and wait for China to completely fuck of from Bitcoin world. not care about things that don't matter FYP They matter unfortunately, we're under Chinese mercy for months now. No they don't matter at all. People think they do and therefore exchange rates with fiat are affected in the short term, but that is all. |
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JorgeStolfi
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April 25, 2014, 03:37:37 AM |
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It's like Chinese Paypal. And yeah, it always happens on top while so called good news happen on bottom. Bitcoin is Chinese bitch.
Alipay MAY have been one of the ways that clients used to recharge Huobi's "recharge cards". |
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chessnut
Legendary
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Activity: 924
Merit: 1001
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April 25, 2014, 03:41:17 AM |
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this is fun. wonder how low it can go. historically, bad chinese news impulsively causes 800 yuan moves to the down side.
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seleme
Legendary
Offline
Activity: 2772
Merit: 1028
Duelbits.com
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April 25, 2014, 03:41:29 AM |
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JorgeStolfi
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April 25, 2014, 03:41:35 AM |
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No [ teh Chinese ] don't matter at all. People think they do and therefore exchange rates with fiat are affected in the short term, but that is all.
When the price drops in China, arbitrage traders immediately buy cheap coins there, move them to Bitstamp/BTC-e/Bitfinex/etc, and sell them for the still higher price. That slows down the Chinese drop and pulls the price down in the west, until the prices about match (within some currency exchange rate, seems to be 6.30 CNY/USD these days). |
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seleme
Legendary
Offline
Activity: 2772
Merit: 1028
Duelbits.com
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April 25, 2014, 03:43:22 AM |
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Bitcoin traders...what a bunch of idiots.
We are really. We should all be full in fiat Bitcoin and wait for China to completely fuck of from Bitcoin world. not care about things that don't matter FYP They matter unfortunately, we're under Chinese mercy for months now. No they don't matter at all. People think they do and therefore exchange rates with fiat are affected in the short term, but that is all. Therefor they matter. I'd love if they would not. Anyway, I missed to buy at 340$ last time, looks like I'll have a chance again. |
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wachtwoord
Legendary
Offline
Activity: 2324
Merit: 1125
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April 25, 2014, 03:43:42 AM |
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No [ teh Chinese ] don't matter at all. People think they do and therefore exchange rates with fiat are affected in the short term, but that is all.
When the price drops in China, arbitrage traders immediately buy cheap coins there, move them to Bitstamp/BTC-e/Bitfinex/etc, and sell them for the still higher price. That slows down the Chinese drop and pulls the price down in the west, until the prices about match (within some currency exchange rate, seems to be 6.30 CNY/USD these days). Of course this happens. But it doesn't matter. It has zero affect on the usefulness or adoption of Bitcoin. It's merely the price that's affected for a short while. |
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ShroomsKit
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April 25, 2014, 03:44:02 AM |
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People dumping on Bitstamp because a company in China stopped using Bitcoin. Nothing but good news every single day and they don't give a shit but a company in China stops using Bitcoin and everybody totally shits his pants and dumps.
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Bitcoin_is_here_to_stay
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April 25, 2014, 03:45:05 AM |
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$480-$490 support broken on huge volume, no more illusions where we are heading
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seleme
Legendary
Offline
Activity: 2772
Merit: 1028
Duelbits.com
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April 25, 2014, 03:45:52 AM |
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People dumping on Bitstamp because a company in China stopped using Bitcoin. Nothing but good news every single day and they don't give a shit but a company in China stops using Bitcoin and everybody totally shits his pants and dumps.
If that 2nd article I posted is true, it might be more than one company. Than again, we had that like 5 times so far. |
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ShroomsKit
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April 25, 2014, 03:46:23 AM |
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And when this is over they're gonna buy again. Like nothing happened. Most of them with a big loss. How stupid can you get it.
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wachtwoord
Legendary
Offline
Activity: 2324
Merit: 1125
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April 25, 2014, 03:47:36 AM |
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And when this is over they're gonna buy again. Like nothing happened. Most of them with a big loss. How stupid can you get it.
How much is SecondMarket scooping up? |
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Richy_T
Legendary
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Activity: 2422
Merit: 2112
1RichyTrEwPYjZSeAYxeiFBNnKC9UjC5k
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April 25, 2014, 03:48:24 AM |
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Seriously, who is crazy enough to buy coins again next round? It will end in a big dump. Every.single.time
By the time a bubble kicks in, the previous bubble looks like just a blip on the charts. |
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ShroomsKit
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April 25, 2014, 03:48:46 AM |
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People dumping on Bitstamp because a company in China stopped using Bitcoin. Nothing but good news every single day and they don't give a shit but a company in China stops using Bitcoin and everybody totally shits his pants and dumps.
If that 2nd article I posted is true, it might be more than one company. Than again, we had that like 5 times so far. Does it change anything really. Chinese bad news is Chinese bad news. Stamp traders don't care about the details. They just panic and dump. I doubt the average has ANY clue what's going on over there. Who banned what etc. |
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ShroomsKit
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April 25, 2014, 03:49:09 AM |
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Seriously, who is crazy enough to buy coins again next round? It will end in a big dump. Every.single.time
By the time a bubble kicks in, the previous bubble looks like just a blip on the charts. Can't wait. |
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