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

[Assmaster2000]

ELI5 how debasing yuan counters the anti-dumping tax?

it strengthens US dollar = shit for stocks + makes exports more expensive imports cheaper. if exports are more expensive it means less foreign currency flowing in and more flowing out. singapore is an interesting exception to the rule, being the only island city state in the world: tiny with little capacity to produce physical goods, they have to import a shit lot and cant export much so a strong currency actually suits them quiet well cos it makes imports cheap and exports expensive. its vice versa to the US and china. it makes labor more expensive in the US too, basically exporting jobs to, guess where, china, where it just got cheaper to produce goods.

edit: it doesnt so much counter the tax,, its more like a big "fuck you i can play dirty too" "best change your tone or shits guna go south for you quick"

I'm not following. Ignoring your Singapore tangent, how is devaluing the yuan "make labor more expensive in the US"?
And you do know that US minimal wage is far better than Chinese average wage, so which jobs would they be stealing that they ain't already got?
Not seeing much of a "fuck you" there, to be honest.

so if you wana hire 1000 people to make t-shirts, who do you employ? the ones who demand high pay, or the ones you can employ to do the same thing for a fraction of the price.

I'll employ the cheap Chinese. The ones I would have hired anyhow, only now they'll cost me less, if they still make the same in yuan.

so if im in england, i want 1,000,000,000 t-shirts, im guna hire the chinese instead of the americans.

If you're not crazy/don't want to go broke, sure. I hope you weren't planning on hiring Americans before the yuan got devalued a few points, because then you're not to be trusted with money and should consider voluntary commitment.

so my money then flows into china instead of america. and then because the dollar is strong, and the cost of producing the same t-shirt in america is higher, people will buy the t-shirts from me and import them instead of buying from a local producer in america. so 1) the jobs to produce the t-shirts have shifted to china

Yes, roughly 30 years ago.

and 2) when people in america want to buy t-shirtsm they buy the cheaper chinese version causing capital outflow instead of inflow.

Sure, but you, Brit, are also paying UK taxes, and paying tariff to US (remember the 450% anti-dumping steel tax? like that). So both US and UK are making out just fine

its one country steeling growth from the other.

that 450% means anyone who needs metal will buy in the US instead of china,

Anyone who needs steel in US. Which has nothing to do with you, Brit. You can still get yours from China, probably for less, because glut in China, because none is going to US. Because US steel mills are employing people to make US, domestic steel. Duh.

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[Fakhoury]

For Allah (God) sake, check the BOLD PART !!

Guess what my friend, between tri and bi, your life changes 180 degrees. Did you witness how much trivial and small we are

I like this quote as well, if you know what I mean

[hd060053]

2-years high on okcoin is 4214, will they break it today 

[Gyrsur]

<-- what's this! 

[Assmaster2000]

Cheer up, gentlefolk. The price isn't falling that fast. Why would it, after such healthy organic growth?

[criptix]

Leverage long see ya suckers  

[Ted E. Bare]

Cheer up, gentlefolk. The price isn't falling that fast.

Falling? The price is increasing. You must have your chart upside down.

[zimmah]

Lauda's cat is prepared.

If we hold over 500 expect to see 600+ before the end of next week...china is pumping now!  

It is already at ~545$ over there.

3860 CNY = ~$587

[Assmaster2000]

Cheer up, gentlefolk.  The price isn't falling that fast. Why would it, after such healthy organic growth?

Falling? The price is increasing. You must have your chart upside down.

Sure, falling

But ... chin up! Easy come, easy go, amirite?

[zimmah]

Cheer up, gentlefolk.  The price isn't falling that fast. Why would it, after such healthy organic growth?

Falling? The price is increasing. You must have your chart upside down.

Sure, falling

But ... chin up! Easy come, easy go, amirite?

bears are always bearish, even with a rise like this, they complain as soon as the price drops by $1 even for 2 minutes.

Pathetic people with severe depressions, seriously.

[Assmaster2000]

bears are always bearish, even with a rise like this, they complain as soon as the price drops by $1 even for 2 minutes.

Or by $16, but who's counting?

[Ted E. Bare]

This can't be serious. Nice way to present your graph. No one is going to fall for that.
Maybe if you zoom in a little more you can even claim that the price has not been moving at all.  

Good luck shorting this pump. You will need it!

[zimmah]

bears are always bearish, even with a rise like this, they complain as soon as the price drops by $1 even for 2 minutes.

Or by $16, but who's counting?

who cares about a drop of $16 when we just rose by $100

seriously, are you fucking blind or what?

[Assmaster2000]

This can't be serious. Nice way to present your little graph. No one is going to fall for that.
Good luck shorting this pump. You will need it!

Sir! This rocket engine? Belong to you? Where the rest of your rocket at? Out with it!

[Assmaster2000]

bears are always bearish, even with a rise like this, they complain as soon as the price drops by $1 even for 2 minutes.

Or by $16, but who's counting?

who cares about a drop of $16 when we just rose by $100

seriously, are you fucking blind or what?

Well, not unless you're leveraged long, that is. In which case there's simply no avoiding it

[Pruden]

The evolution of the bid sum on various exchanges does not support a bullish scenario. Compared with December with a top of 475$, the bids are now much lower on
western exchanges, down to 50% on Bitstamp. On Huobi, I suspect a whale / miner bullish manipulation: some 30 - 40 million CNY have been added to the bids during the
last month, but without a real intent on buying, or we would be over 500$ already. Those bids have been pulled every time a minor dump occurred.

Did you add USD and EUR bids at Bitstamp? The splitting of trading activity into 2 currencies has made historical figures hard to compare.
But most importantly: Where do you see bid sums? I miss coinorama so much...

[BlindMayorBitcorn]

This is mental. No way this holds. I'm buying a rug on Overstock.

[Adrian-x]

This is mental. No way this holds. I'm buying a rug on Overstock.

nice. I hope its a good one. Sheets are a popular choice too.

I went out and had an endorphin rush when I checked the price after I returned. I'm all in now so I'm hoping this holds too, at least until the next wave of fomo fiat hits the exchanges.

Check out the CNY exchange rate RMB3845 = USD 585  that's an 11% arbitrage margin, I'm betting it holds for a little while until the bureaucrats in China figure out whats happening. 

[BlindMayorBitcorn]

This is mental. No way this holds. I'm buying a rug on Overstock.

nice. I hope its a good one. Sheets are a popular choice too.

I went out and had an endorphin rush when I checked the price after I returned. I'm all in now so I'm hoping this holds too, at least until the next wave of fomo fiat hits the exchanges.

Check out the CNY exchange rate RMB3845 = USD 585  that's an 11% arbitrage margin, I'm betting it holds for a little while until the bureaucrats in China figure out whats happening. 

I thought the exchanges in China promised the PRC no more bubbles? What a bunch of cowboys.

[2015Bubble]

See you guys at 2k usd buttboys