sonofliberty
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Activity: 395
Merit: 100
Market Integration Platform
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May 06, 2014, 06:50:15 AM |
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CCMF
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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin Core, which will follow the rules of the network no matter what miners do. Even if every miner decided to create 1000 bitcoins per block, full nodes would stick to the rules and reject those blocks.
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Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
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bobdude17
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May 06, 2014, 06:50:48 AM |
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Wouldn't it be funny if the Chinese authorities were just pissed at the exchanges for running shitty and making fake volume. Like we were.
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TERA
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May 06, 2014, 06:51:48 AM |
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Is the random Chinese pump the ideal time to buy? I would think of that as the worst possible time to buy, and the ideal time to buy would be when China is completely out of the system.
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Davyd05
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May 06, 2014, 06:52:02 AM |
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...so when do you close the shorts Wind.. Tera do you even have a short open?
Just asking.. I know it requires a combination of volume and price change just wondering...
I am not closing my shorts. If we rally up I will add more. You know I be asking for that rally point in $price D: ( slight thuggish voice while reading ) |
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mooncake
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May 06, 2014, 06:52:10 AM |
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I don't see anything there about the PBOC saying anything...
This isn't "exchanges and pboc reach agreement". This is "exchanges write note to beg and plead PBOC one last time".
You obviously do not understand how Chinese business works. Please enlighten us. In China in general, you won't see announcements made public until privately parties have reached an agreement. There are exceptions of course, but judging from the content, the timing and the involved exchanges, it is highly possible there had been discussions with PBOC. |
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Stevenrm87
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May 06, 2014, 06:53:18 AM |
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LTC busting away!
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mb300sd
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Activity: 1260
Merit: 1000
Drunk Posts
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May 06, 2014, 06:53:36 AM |
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Maybe the chinese are thinking, "this is my last chance to get into btc and out of cny!" and buying it all up  |
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BitAddict
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Activity: 1190
Merit: 1001
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May 06, 2014, 06:53:45 AM |
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I don't see anything there about the PBOC saying anything...
This isn't "exchanges and pboc reach agreement". This is "exchanges write note to beg and plead PBOC one last time".
You obviously do not understand how Chinese business works. Please enlighten us. In China in general, you won't see announcements made public until privately parties have reached an agreement. There are exceptions of course, but judging from the content, the timing and the involved exchanges, it is highly possible there had been discussions with PBOC. That is what you want to think. The reallity is that we don't know anything. Just trying to gamble guessing. |
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Davyd05
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May 06, 2014, 06:53:50 AM |
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Is the random Chinese pump the ideal time to buy? I would think of that as the worst possible time to buy, and the ideal time to buy would be when China is completely out of the system.
some how.. the part about China being complete out makes me think you're delusional, if not completely blind. |
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N12
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Activity: 1610
Merit: 1010
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May 06, 2014, 06:54:58 AM |
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Is the random Chinese pump the ideal time to buy? I would think of that as the worst possible time to buy, and the ideal time to buy would be when China is completely out of the system.
I suppose it will be a while longer until the rest close down due to unprofitability or get raided if they continue trying to circumvent the PBOC's decrees. |
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TERA
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May 06, 2014, 06:55:09 AM |
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Is the random Chinese pump the ideal time to buy? I would think of that as the worst possible time to buy, and the ideal time to buy would be when China is completely out of the system.
some how.. the part about China being complete out makes me think you're delusional, if not completely blind. it is in future tense |
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Davyd05
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May 06, 2014, 06:56:00 AM |
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I don't see anything there about the PBOC saying anything...
This isn't "exchanges and pboc reach agreement". This is "exchanges write note to beg and plead PBOC one last time".
You obviously do not understand how Chinese business works. Please enlighten us. In China in general, you won't see announcements made public until privately parties have reached an agreement. There are exceptions of course, but judging from the content, the timing and the involved exchanges, it is highly possible there had been discussions with PBOC. finally my international business course pays off...well it payed of when I stopped thinking the way I see it done locally is the way I should expect the rest of the world to do things lol |
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windjc
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Activity: 2156
Merit: 1070
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May 06, 2014, 06:57:59 AM |
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I don't see anything there about the PBOC saying anything...
This isn't "exchanges and pboc reach agreement". This is "exchanges write note to beg and plead PBOC one last time".
You obviously do not understand how Chinese business works. Please enlighten us. In China in general, you won't see announcements made public until privately parties have reached an agreement. There are exceptions of course, but judging from the content, the timing and the involved exchanges, it is highly possible there had been discussions with PBOC. I'm sorry. Are you Chinese? Do you live in China? What qualifications do you have to assume this? I for one think that if they did reach an agreement, that BANKS WOULDN'T BE SHUTTING DOWN THEIR ACCOUNTS TODAY and they wouldn't be tweeting about banks shutting down their accounts. |
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xulescu
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May 06, 2014, 06:59:26 AM |
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I don't see anything there about the PBOC saying anything...
This isn't "exchanges and pboc reach agreement". This is "exchanges write note to beg and plead PBOC one last time".
You obviously do not understand how Chinese business works. Please enlighten us. In China in general, you won't see announcements made public until privately parties have reached an agreement. There are exceptions of course, but judging from the content, the timing and the involved exchanges, it is highly possible there had been discussions with PBOC. I'm sorry. Are you Chinese? Do you live in China? What qualifications do you have to assume this? I for one think that if they did reach an agreement, that BANKS WOULDN'T BE SHUTTING DOWN THEIR ACCOUNTS TODAY and they wouldn't be tweeting about banks shutting down their accounts. +1 I'm sure the tweet is just manipulation though </sarc> |
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Davyd05
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May 06, 2014, 06:59:49 AM |
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Is the random Chinese pump the ideal time to buy? I would think of that as the worst possible time to buy, and the ideal time to buy would be when China is completely out of the system.
some how.. the part about China being complete out makes me think you're delusional, if not completely blind. it is in future tense clearly your point is that there will be no Bitcoin Exchange run domestically in China right? I am saying I highly doubt every Chinese soul will want to rid themselves of bitcoin |
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ChartBuddy
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Activity: 2156
Merit: 1745
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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May 06, 2014, 07:00:58 AM |
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TERA
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May 06, 2014, 07:02:19 AM |
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Is the random Chinese pump the ideal time to buy? I would think of that as the worst possible time to buy, and the ideal time to buy would be when China is completely out of the system.
some how.. the part about China being complete out makes me think you're delusional, if not completely blind. it is in future tense clearly your point is that there will be no Bitcoin Exchange run domestically in China right? I am saying I highly doubt every Chinese soul will want to rid themselves of bitcoin There would be nothing along the likes of huobi, btcchina, okcoin, etc. There might be some small bucket shops with 100btc per day of volume whose sole purpose is for the every day person to buy a bitcoin, and not to be a daytrading exchange. |
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mooncake
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May 06, 2014, 07:02:22 AM |
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I for one think that if they did reach an agreement, that BANKS WOULDN'T BE SHUTTING DOWN THEIR ACCOUNTS TODAY and they wouldn't be tweeting about banks shutting down their accounts.
Well, the boss must show that she is the boss. Otherwise, how will people respect her? |
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JayJuanGee
Legendary
 Online
Activity: 3696
Merit: 10153
Self-Custody is a right. Say no to"Non-custodial"
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May 06, 2014, 07:05:16 AM |
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I am just going to view this bear phase as the accumulation phase...as that really seems to be underlying theme...
You accumulate better if you short from time to time  Yes, in theory shorting could be profitable. However, NOT a good time to short now b/c BTC prices seem to be way below the BTC price trend line. In this regard, it can be good to short when btc prices are above the trend line and to buy when btc prices are below the trendline. Certainly, we have a variety of views concerning where is the trendline, exactly. Personally, I am NOT very sophisticated in my trading, but I would put the current BTC trendline in the $650 to $850 arena. I have seen others making claims that the btc trend line is much higher than what I am saying. You could also assess the BTC trendline to be much lower; nonetheless, at $425-ish, in many accounts of the trendline, we are still much below the trendline.. IN sum, this particular moment does NOT appear to be a good time to short - absent some certain news that BTC prices are going to go down by 5-15%. i have NOT seen any such news, even though I have seen considerable fear mongering in that direction to suggest that for sure BTC prices are going down. I remain NOT very confident in such a prediction. Do not try and bend the trendline. That's impossible. Instead only try to realize the truth. What truth? There is no trendline. A trendline, to the extent to which it exists, becomes more apparent after the passage of time, and you could be correct that there is NO trendline. I am putting my money on that there is a trendline and BTC prices are going to move up. How about you? Are you putting any money into BTC? So far, I am NOT putting more money into BTC than I am willing to lose, but I am putting in more than I had originally planned to put in.... The reason that I am putting more into BTC is b/c I am more informed about bitcoin today than I was 5 months ago. |
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windjc
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Merit: 1070
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May 06, 2014, 07:08:01 AM |
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So basically the 5 major exchanges have all agreed to tax HFT (which I assume would be a HUGE disincentive), to agree with all banks account bans, and to cut off leveraged trading.
So, in effect, aside from losing their bank accounts, the exchanges are now going to take away most of the incentives Chinese have to trade bitcoin.
So, I would assume this means that any Chinese person who has money invested in bitcoin because they simply want to trade it will now have reasons to pack their fiat bags and go home or into another market, and those that simply want to hold will stay.
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