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

[Brewins]

4:11PM EST

thanks for the smaller graphic

[fonzie]

So this is how the average chinese bitcoiner looks like:  




http://www.scmp.com/news/hong-kong/article/1707565/investors-fear-hk3b-losses-closure-bitcoin-trading-company

"In December, the company changed its trading rules, forbidding investors to cash in all their bitcoins unless they manage to find more clients."


@JorgeStolfi, do you know if BIT investors meanwhile are allowed to cash out, or is it still prohibited?

https://twitter.com/barrysilbert/status/551553942745006080

[Sitarow]

4:11PM EST

thanks for the smaller graphic

NP

[aztecminer]

ok this is the rumor. do we buy or sell on this rumor ?? i think is not HAMMER TIME yet so that means we should be selling .

It's "buy the rumor and sell the news". No matter what the rumor or news is. Just buy the rumor, and then sell the news. Works always, guaranteed.

ah alright i got it. i knew was something like that.

[unununium]

So this is how the average chinese bitcoiner looks like:  




http://www.scmp.com/news/hong-kong/article/1707565/investors-fear-hk3b-losses-closure-bitcoin-trading-company

"In December, the company changed its trading rules, forbidding investors to cash in all their bitcoins unless they manage to find more clients."


@JorgeStolfi, do you know if BIT investors meanwhile are allowed to cash out, or is it still prohibited?

https://twitter.com/barrysilbert/status/551553942745006080

Bad luck...

[LFC_Bitcoin]

It could be a good thing if that exchange has gone down.
More coins are lost which limits supply hence a price rise.

[NotHatinJustTrollin]

It could be a good thing if that exchange has gone down.
More coins are lost which limits supply hence a price rise.

Yeah but the coins are not "lost", the scammers have them, and you can only guess what they are gonna do with them  

[BlindMayorBitcorn]

It could be a good thing if that exchange has gone down.
More coins are lost which limits supply hence a price rise.

Only a degen bitcoiner would look at the ruin of others as the silver lining to his own bag. Kuddos

[Eamorr]

Not even the Pope himself would be able to move the price $10 away from $220.

It's so tight out there at the moment.

[fonzie]

It could be a good thing if that exchange has gone down.
More coins are lost which limits supply hence a price rise.

One should consider the possibility that a lot of potential chinese BTC investors will be scared due to this news. They will probably think twice before putting anything into it. Bitcoin will always get labeled as that "ponzi thing" in China from now on. At least for the average chinamen. And these are the people bigger fools, that bitcoin would  desperatley need now to end the bear market. It will be interesting to see if the PBOC decides to do something now? Maybe more regulations, ban or something else. For all we know a lot of these exchanges aren´t working really transparent and are possibly acting fractional reserve.
Bullish?

[octaft]

It could be a good thing if that exchange has gone down.
More coins are lost which limits supply hence a price rise.

Only a degen bitcoiner would look at the ruin of others as the silver lining to his own bag. Kuddos

Considering some of these people look at full economic collapse as a great thing (for bitcoin, of course), I'm not sure why this surprises you.

[JorgeStolfi]

Lets not forget that if [ mycoin.hk ] was anything like gox an unknown percentage of coins and/or fiat might not have existed in the first place.

I would expect that too.  It probably was like MtGOX, the Madoff ponzi, or the silver scam of James Ray Houston, father of BFL's CEO: the clients invested X, their account balance was (say) 5 times X, but the site's coffers were actually empty.

[aztecminer]

It could be a good thing if that exchange has gone down.
More coins are lost which limits supply hence a price rise.

it was a mining contract scam ?? i think i will HODL ....

[fonzie]

It could be a good thing if that exchange has gone down.
More coins are lost which limits supply hence a price rise.

Just like the MtGox collapse and it´s missing 800kBTC made the price skyrocket.

[pippo]

Go out from Bitcoin and all in at Darkcoin ;-)

[ChartBuddy]

Coin
Explanation

[gentlemand]

It could be a good thing if that exchange has gone down.
More coins are lost which limits supply hence a price rise.

Only a degen bitcoiner would look at the ruin of others as the silver lining to his own bag. Kuddos

'Free market in action' 'be your own bank' 'shoulda seen it coming' 'if you don't got your private keys' 'due diligence' etc.

Lots of people love to preach this until it happens to them.

I sympathise with anyone who loses anything. With BTC world as it is though, the risks are too high to be giving coins away unless someone can present a cast iron case.

[Brewins]

So this is how the average chinese bitcoiner looks like:  




http://www.scmp.com/news/hong-kong/article/1707565/investors-fear-hk3b-losses-closure-bitcoin-trading-company

"In December, the company changed its trading rules, forbidding investors to cash in all their bitcoins unless they manage to find more clients."


@JorgeStolfi, do you know if BIT investors meanwhile are allowed to cash out, or is it still prohibited?

https://twitter.com/barrysilbert/status/551553942745006080

it seems to be big if true. Enough to crash the prices to the 100's.

Why no moves so far?

[NotHatinJustTrollin]

It could be a good thing if that exchange has gone down.
More coins are lost which limits supply hence a price rise.

Just like the MtGox collapse and it´s missing 800kBTC made the price skyrocket.

[samsonn25]

It could be a good thing if that exchange has gone down.
More coins are lost which limits supply hence a price rise.

Just like the MtGox collapse and it´s missing 800kBTC made the price skyrocket.

Yes.  Haha