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

[nanobrain]

I suspect this is China going after arbers, the regulations looked like a tool against dirty dealings in the financial sector than against bitcoin and they're just as applicable to foreign banks/financial institutions as native ones. A manipulator cull would be nice

Have you seen the regulations?  Or an accurate translation of them?  I'm no fan of currency manipulators but it sounds like wishful thinking.

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[EuroTrash]

Also btcchina stopping 0% fee and charge a 0.3% again.

That can be interpreted as a move aimed at slowing the market down, e.g. either prevent chain reaction shorting or vice versa to prevent a run on btcchina's coins in order to get the f* out.

[nanobrain]

Also btcchina stopping 0% fee and charge a 0.3% again.

Where did you see this...I can't find any mention on the BTChina site.

I got it...sometimes you miss the really obvious places 

[dgarcia]

Dear BTC China valued customer: To stabilize the recent turbulent Bitcoin market and minimize potential market manipulation, BTC China will end the 0% trading fee promotion, effective immediately, and revert to the 0.3% trading fee. We deeply apologize for the sudden change. BTC China, December 16, 2013

In response to a recent policy shift, BTC China now requires users to submit identification or passport number. Existing users will need to provide this information upon login. We apologize for any inconvenience. Please contact our QQ support if you have any problems

[Nemo1024]

Hmm... should I buy at 805 now and close my previous blundered sell at 804 at only a minute loss, or shall I wait for a lower low?
Seems prudent to buy now...

[seriouscoin]

Why would the western whales dump?

I say FUCK CHINA. We know btc in Communist countries is a big NO NO. Lets move to India ..... where btc will shine for all the good reasons.

If btc stays in China, its just gonna be speculative trading vehicle.... where they will cause volatility.


At this stage, we dont want volatility.... we need market adoption to utilize BTC technology.

[RAJSALLIN]

Why would the western whales dump?

I say FUCK CHINA. We know btc in Communist countries is a big NO NO. Lets move to India ..... where btc will shine for all the good reasons.

If btc stays in China, its just gonna be speculative trading vehicle.... where they will cause volatility.


At this stage, we dont want volatility.... we need market adoption to utilize BTC technology.

Sure, markets just have to come down first since China was the reason we saw these new highs.

[Nemo1024]

Ok, I am partially back in at 802.50
Now let's see it crash further!  

[Dragonkiller]

Why would the western whales dump?

I say FUCK CHINA. We know btc in Communist countries is a big NO NO. Lets move to India ..... where btc will shine for all the good reasons.

If btc stays in China, its just gonna be speculative trading vehicle.... where they will cause volatility.


At this stage, we dont want volatility.... we need market adoption to utilize BTC technology.

India won't be friendly towards bitcoin

[alexeft]

Dear BTC China valued customer: To stabilize the recent turbulent Bitcoin market and minimize potential market manipulation, BTC China will end the 0% trading fee promotion, effective immediately, and revert to the 0.3% trading fee. We deeply apologize for the sudden change. BTC China, December 16, 2013

In response to a recent policy shift, BTC China now requires users to submit identification or passport number. Existing users will need to provide this information upon login. We apologize for any inconvenience. Please contact our QQ support if you have any problems

So, the recent Chinese "law" translated into exchanges requiring users to identify themselves! No big deal really!

[kurious]

I suspect this is China going after arbers, the regulations looked like a tool against dirty dealings in the financial sector than against bitcoin and they're just as applicable to foreign banks/financial institutions as native ones. A manipulator cull would be nice

Have you seen the regulations?  Or an accurate translation of them?  I'm no fan of currency manipulators but it sounds like wishful thinking.

There's some fairly good and unbiased translations in a few threads here but they're hard to find amidst the trolling. The bitcoin foundation's lawyers had a good look at them, quick quote from a summary:

What the memo actually restricts is “Insurance companies and Banks from insuring, investing or trading” in Bitcoin. Additionally the memo is directing any “Exchanges” to register and follow the money laundering and identification guidelines.

Not got exact clarification on it but there's nothing in it restricting it to Chinese institutions so if any bank etc. trades on Chinese exchanges it looks like they're breaking the law.

As always 'buy the rumour, sell the news'  I think I have it the right way around now

[crazy_rabbit]

Dear BTC China valued customer: To stabilize the recent turbulent Bitcoin market and minimize potential market manipulation, BTC China will end the 0% trading fee promotion, effective immediately, and revert to the 0.3% trading fee. We deeply apologize for the sudden change. BTC China, December 16, 2013

In response to a recent policy shift, BTC China now requires users to submit identification or passport number. Existing users will need to provide this information upon login. We apologize for any inconvenience. Please contact our QQ support if you have any problems

Well it's about time. I previously thought that 0% on trades would reduce volatility but I was wrong. It only encourages recklessness.

[accord01]

Why would the western whales dump?

I say FUCK CHINA. We know btc in Communist countries is a big NO NO. Lets move to India ..... where btc will shine for all the good reasons.

If btc stays in China, its just gonna be speculative trading vehicle.... where they will cause volatility.


At this stage, we dont want volatility.... we need market adoption to utilize BTC technology.

The thing is, like 90% of this 145-1200 rally is caused by China, at least China jump started it.  So to say F china, means you also have to accept the correction that comes with it....

[crazy_rabbit]

Why would the western whales dump?

I say FUCK CHINA. We know btc in Communist countries is a big NO NO. Lets move to India ..... where btc will shine for all the good reasons.

If btc stays in China, its just gonna be speculative trading vehicle.... where they will cause volatility.


At this stage, we dont want volatility.... we need market adoption to utilize BTC technology.

India won't be friendly towards bitcoin

I agree. We should probably focus on fixing the USA, the world will still follow our lead, and at least we have a democratic system where we have some chance at recourse.

[mmitech]

I think we might visit 650 today, even if this turn out to be only FUD, it may make some early adopters think about collecting some profits, I am starting to think about cashing half of my bitcoins out, better something than nothing....

so you think we're maybe going to 650 and that's the reason to sell 50%? so you're selling 50% because you could have 825/660 = 20% of win in best case scenario? meaning 10% more to your coins and with how big risks?

big support is at 800 and market is oversold at the moment, just a good spot to give your coins to the whales who started this dip

well I bought my coins between $10-130 so yes I am willing to take that risk, I already sold, if the price gonna crash more I will have the chance to get more coins, and if the price will skyrocket it wont be that disappointing.

that been said, I didn't sell at 1200+ I didn't sell at 1000 and I didn't sell at 900, but watching the price dropping slowly makes me think it is good to take some profit now than regret it later .

[kurious]

well I bought my coins between $10-130 so yes I am willing to take that risk, I already sold, if the price gonna crash more I will have the chance to get more coins, and if the price will skyrocket it wont be that disappointing.

that been said, I didn't sell at 1200+ I didn't sell at 1000 and I didn't sell at 900, but watching the price dropping slowly makes me think it is good to take some profit now than regret it later .

You do realise how illogical this is?

[seriouscoin]

Why would the western whales dump?

I say FUCK CHINA. We know btc in Communist countries is a big NO NO. Lets move to India ..... where btc will shine for all the good reasons.

If btc stays in China, its just gonna be speculative trading vehicle.... where they will cause volatility.


At this stage, we dont want volatility.... we need market adoption to utilize BTC technology.

India won't be friendly towards bitcoin

I say otherwise,

India is quite corrupted.... bribes are everywhere. And bitcoin is anonymous...... Good

Majority of Indians use cellphones because the plans are cheapest in the world. Majority of local business dont accept CC due to .... lacks of credit system = higher fee....... Good

[EuroTrash]

One thought about the 0.3% fee:

1. Clearly BTCChina knows some shit is coming.
2. How about all those HFT bots that have been programmed with the assumption that fees are 0%?  Someone is going to get burned, badly.

[throwaway]

Can we have a source for the 0.3%?

[mmitech]

well I bought my coins between $10-130 so yes I am willing to take that risk, I already sold, if the price gonna crash more I will have the chance to get more coins, and if the price will skyrocket it wont be that disappointing.

that been said, I didn't sell at 1200+ I didn't sell at 1000 and I didn't sell at 900, but watching the price dropping slowly makes me think it is good to take some profit now than regret it later .

You do realise how illogical this is?

maybe for you yes, but waiting for a recover is making me more nervous, now I feel a bit relief, but you do whatever you want, you do not have to agree on anything I say....