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

[TERA]

After all these insults against bears...

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[proudhon]

I still haven't been able to figure out what's going on.  All I see are sources. Sources everywhere.  All referencing sources.  I can't decide if I'm supposed to sell all my bitcoins or HL3 is coming out tomorrow.  I'm so confused.  Help!

[jojo69]

IF the bail in for the eurozone works like that of Cyprus, then you may end up "using" your stash rather than exchanging it for worthless euro's

 

I don't doubt it, Germany is pretty much slowing the process down cause why would they want to bail in the others

You don't understand. A "bail-in" is when depositor money is confiscated to save the bank. It's the scenario Germany wants!

It's the scenario every bank in Europe wants, the entire f'ing economy is based on creative accounting so they'll have no trouble with loss-free bankruptcies to get their hands on savers money.

When QE fails, resort to straight up theft...

kleptocratic farcism

That's beautiful, I'm in awe of your linguistic prowess  

I fear I must credit that gem to Marla Singer from the old Zerohedge admin team, before the putsch, it certainly bears repeating imo

[gizmoh]

After all these insults against bears...

Bear Parade once 500 broken? 

Back to earth bulls!!!!

[emanymton]

IF the bail in for the eurozone works like that of Cyprus, then you may end up "using" your stash rather than exchanging it for worthless euro's

 

I don't doubt it, Germany is pretty much slowing the process down cause why would they want to bail in the others

You don't understand. A "bail-in" is when depositor money is confiscated to save the bank. It's the scenario Germany wants!

It's the scenario every bank in Europe wants, the entire f'ing economy is based on creative accounting so they'll have no trouble with loss-free bankruptcies to get their hands on savers money.

When QE fails, resort to straight up theft...

kleptocratic farcism

That's beautiful, I'm in awe of your linguistic prowess  

I fear I must credit that gem to Marla from the old Zerohedge admin team, before the putsch, it certainly bears repeating imo

If I had a car, I'd get it made into a bumper sticker 

[adamstgBit]

I still haven't been able to figure out what's going on.  All I see are sources. Sources everywhere.  All referencing sources.  I can't decide if I'm supposed to sell all my bitcoins or HL3 is coming out tomorrow.  I'm so confused.  Help!

hahahahahaha!
lol yes! i know! wtf right
 HELP!
hahahahaha!

[windjc]

After all these insults against bears...

Bear Parade once 500 broken? 

Back to earth bulls!!!!

So its pretty obvious you are hoping the bottom falls out of the bitcoin price. Where do you realistically want to buy back in. I mean the ironic thing about you bears is that you want back into the very thing you are trying to bash.

[Davyd05]

After all these insults against bears...

Bear Parade once 500 broken? 

Back to earth bulls!!!!

yeah cause bears were in the closed door meetings with unconfirmed news from unconfirmed sources, hello full on panic bears.

[simonk83]

After all these insults against bears...

A broken clock is still right twice a day

It's not that hard to constantly predict that the price will drop.  Of course at some point it will.

[tarmi]

rpietila strong!

make love with you bears long time!

[dgarcia]

source: http://tech.sina.com.cn/it/2013-12-17/01139011174.shtml#483253-tsina-1-18627-1cf60a7c37a7bc296a2ba7aba0120190
1. This article is posted on sina. Sina is the top 5 online medai brand in China, equivalent to Yahoo here.
2. The rumor posted on Chinese version of twitter(weibo) is true.
3. People's Bank of China banned all the third party payment company doing business related to bitcoin, including bitcoin exchange platforms.
For those who is currently doing, they are required to completely cut off bitcoin related business by the Chinese new year, which is at the end of Jan 2014.
For the business held by entity outside of China, they haven't decide what to do, but very likely to be negative.
3. Btcchina is operated in the Shanghai's new pilot free trading zone. It is at a awkward spot. They has terminate the partnership with Tenpay(probably second largest third party payment company under Alipay). They are now using Yeepay, which is probably a random small company I have never heard of.
4. You can now only withdraw your fiat fund from btcchina through online banking. You can still deposit via Yeepay and online banking, for now.
5. After Dec 5, small merchants or online shop owner could still accept bitcoin as payment and comfortably convert them to rmb through exchange like btcchina. In the future , this is going to be much harder and completely illegal after the Chinese new year. Basically, bitcoin is dead in China for the most part. People can only use it as speculative investment and store of value, but it is going to very hard for them to realize their potential profit legally in the future.
6. In the future, if bitcoin still managed to success internationally without China market, people in China would still be able to own it and sell it in a similar way how people deposit and withdraw money from Pokerstars. But it probably wouldn't be a hot topic as it was months ago.
7. People ask if btcchina will be shut down. I don't know. Btcchina is the only exchange located in the Shanghai's free pilot trading zone, it could possibly survive. But the best case scenario is that btcchina is going to the only one left.
Since people couldn't read, I just made make some words bold.

[proudhon]

I still haven't been able to figure out what's going on.  All I see are sources. Sources everywhere.  All referencing sources.  I can't decide if I'm supposed to sell all my bitcoins or HL3 is coming out tomorrow.  I'm so confused.  Help!

hahahahahaha!
lol yes! i know! wtf right
 HELP!
hahahahaha!

BRB, checking to see if HL3 is out...

[JimboToronto]

Still waiting. Bear for another day.  

[dwdoc]

http://finance.ifeng.com/a/20131217/11286572_0.shtml

Bitcoin party payment channels close or exit the Chinese marketAt 03:51 on December 17, 2013
Source: Daily News

Strengthen the central bank once again shot bitcoin supervision.

Microblogging spread a message yesterday (December 16), said the central bank has interviewed the bank, Paypal, money paid through other relevant person in charge, explicitly require banks, payment institutions can not give bitcoins, Wright currency (a kind provided based on the "peer" technology networks currency) trading sites such as payment and settlement services; institutional business for payment has occurred, should be lifted business cooperation; For stock funds withdrawal to be completed before the Spring Festival, the new payment services shall not occur.

This message, the "Daily Economic News" reporter contacted Paypal, money paid through other third-party payment agencies and has been confirmed. Market analysts believe that the regulatory punch shot this in mind, it may cause massive Bitcoin trading halt, bitcoin future possibility exists exit the Chinese market.

Reporters from Alipay stakeholders informed that the company has indeed communicate with the central bank, and have closed the transaction window. Paypal pointed out that currently appear on the Bitcoin trading site Paypal interface are all individual transactions between accounts, pay the company has nothing to do with, but also to remind the majority of users pay attention to risk.

In addition, yesterday, TenPay stakeholders also confirmed the news to reporters. Players Bitcoin trading site also told reporters, "Today, when mention is found to be paid through an account with a fortune."

Reporters learned that the interview content is mainly required to pay agency can not provide payment and settlement services to Bitcoin, Wright currency and other trading sites, payment institutions business has occurred should be lifted business cooperation.

Earlier, the People's Bank of China and other five departments issued "on guard against the risk of Bitcoin notice" clearly requires all financial institutions and payment institutions may not engage in bitcoin-related businesses. Meanwhile, financial institutions and payment institutions may not bitcoin for a product or service pricing, may not be sold or traded as a central counterparty bitcoin not covered with bitcoin-related insurance business or insurance coverage into bitcoin shall not directly or indirectly providing customers with bitcoin other related services.

Bitcoin currency network trading platform fire ticker, 0:00 yesterday, Bitcoin transaction price is 5370 yuan / month; as of 20:20, transaction prices fell to 4,720 yuan / month, fell more than 11%.

Financial analysts believe that this is the state of bitcoin measures to strengthen the supervision of another one, and had "a bit on guard against currency risk notification" form "combined."


A Chengdu Bitcoin players told reporters bluntly: "The regulatory hand or China Bitcoin transaction causing a fatal blow." According to him, at present China Bitcoin transactions are mainly in two forms, one is the third-party payment, such as Paypal, money paid through other platforms; another bank. "Yesterday began, third-party payment channels can not be used, so, it is estimated the bank stopped is a matter."

"For the miners, the mining revenue has continued to decline." Yesterday, the players in some bitcoin transaction the group, the topic of ongoing discussion. Some of the main group, told reporters that the incident could cause a bit out of the Chinese currency trading, the player may be transferred abroad

[Krabby]

I think shatoshi should buy out the entire orderbook.

[adamstgBit]

I still haven't been able to figure out what's going on.  All I see are sources. Sources everywhere.  All referencing sources.  I can't decide if I'm supposed to sell all my bitcoins or HL3 is coming out tomorrow.  I'm so confused.  Help!

hahahahahaha!
lol yes! i know! wtf right
 HELP!
hahahahaha!

BRB, checking to see if HL3 is out...

whats HL3

seriously tho...
the answer is to never panic.
you should have taken some profits already, and you should not be invested more then you can afford to lose. etc etc.

if you understand how strong the fundamentals are you know to be a buyer in the bear market, and sell when the fallowing bull market runs over you

[tarmi]

I bet that those bid walls at bitstamp at 650 are fake.

when or after they are pulled out, we will have our catharsis.

[byronbb]

Silkroad 2.0.

[gandhibt]

double bottom at stamp soon, it might broke later thou

[emanymton]

I bet that those walls at bitstamp at 650 are fake.

when or after they are pulled out, we will have our catharsis.

I think 6-650 will be another resistance level and we will see a small bounce from there... followed by further capitulation... mostly