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

[JayJuanGee]

Now paging JJG who's going to condescendingly reply to this and tell me that I'm an idiot, that my theory has no merit, that he's the smartest person here, blah, blah,blah...  

I'm gonna concede defeat on this one.       

[ImI]

lol the good ol "china bans bitcoin" song

[redsn0w]

[TERA]

We're going to keep hearing "Chiba bans Bitcoin" until they actually do.

[bitebits]

We're going to keep hearing "Chiba bans Bitcoin" until they actually do.

And then realize they can't.

[Globb0]

lol the good ol "china bans bitcoin" song

Its just lucky they cant pronounce bitcoin properly. So far they have accidentally banned batcoin, betcoin and bitchcoin   

[TERA]

We're going to keep hearing "Chiba bans Bitcoin" until they actually do.

And then realize they can't.

Sure you can have romanticized thoughts about how Bitcoin is impervious to the government with current technology but the reality is the Chinese government has many ways in which they could basically decimate the level of Bitcoin usage in China:
1. Shut down exchanges and stop all Bitcoin relared wire transfers from banks.
2. Firewall all Bitcoin sites,  flag all Bitcoin software as malware in operating systems, firewall tor exit nodes, don't route bitcoin traffic, stop postal shipments from wallet vendors,  etc. Only the most sophisticated hackers will still be able to use bitcoin.
3. Pass laws against bitcoin use with penalties of jail and fines. The Chinese are very obedient and fearful of their government and will comply.

[bitebits]

^ And that is why Bitcoin still has such a tiny market cap. The probability of your fud is discounted in the price already.

[Ted E. Bare]

Bull Vs. Bear battle at the moment.

[JimboToronto]

Bull Vs. Bear battle at the moment.

Battle? More like a dance.



 

[podyx]

A weekend rally tomorrow?

[JimboToronto]

A weekend rally tomorrow?

Hopefully. We're already almost halfway back from yesterday's little panic.

It's not quite as fast as the recovery from the Silk Road Bust panic that preceded the autumn 2013 rally, but it shows that the bull is ready to keep charging.

[luckygenough56]

guys bitcoin is illegal in China look :

https://twitter.com/cnLedger/status/793675026402717698

[Ted E. Bare]

That is one legitimate data center.

[fichtn12345]

A weekend rally tomorrow?

Hopefully. We're already almost halfway back from yesterday's little panic.

It's not quite as fast as the recovery from the Silk Road Bust panic that preceded the autumn 2013 rally, but it shows that the bull is ready to keep charging.

Confirmed.

[AZwarel]

We're going to keep hearing "Chiba bans Bitcoin" until they actually do.

I do not want to be a dick, but this is a really good read about all this China FUD http://fintekneeks.com/zerohedge-fakes-bitcoin-panic/. Especially the part, where they point to the fact, that China had a +buy volume during the selling, and how insignificant bitcoin is in a 100 trillion market.

Just a thought.

[JayJuanGee]

A weekend rally tomorrow?

Why wait until tomorrow?  May as well wait until Sunday then, no?  I guess it does not matter too much on which day it starts and how long it lasts, as long as it does.

[European Central Bank]

We're going to keep hearing "Chiba bans Bitcoin" until they actually do.

I do not want to be a dick, but this is a really good read about all this China FUD http://fintekneeks.com/zerohedge-fakes-bitcoin-panic/. Especially the part, where they point to the fact, that China had a +buy volume during the selling, and how insignificant bitcoin is in a 100 trillion market.

Just a thought.

it doesn't matter what the truth is. there are enough scared children in the bitcoin market willing to shit the bed and run straight into the hands of the adults controlling them. this'll carry on until a majority of coins are in the hands of more hardened traders.

[ImI]

We're going to keep hearing "Chiba bans Bitcoin" until they actually do.

I do not want to be a dick, but this is a really good read about all this China FUD http://fintekneeks.com/zerohedge-fakes-bitcoin-panic/. Especially the part, where they point to the fact, that China had a +buy volume during the selling, and how insignificant bitcoin is in a 100 trillion market.

Just a thought.

we were overdue for a little correction after the nice runup. so this compared with some fuddish-zerohedge-article is the perfect situation to get a setback.

everything fine, except for the fact that ZH should be seen as the hub of trash,fud and crap that it is.

[bit tired]

We're going to keep hearing "Chiba bans Bitcoin" until they actually do.

I do not want to be a dick, but this is a really good read about all this China FUD http://fintekneeks.com/zerohedge-fakes-bitcoin-panic/. Especially the part, where they point to the fact, that China had a +buy volume during the selling, and how insignificant bitcoin is in a 100 trillion market.

Just a thought.

There's another really good read about all the FUD here.

It explains it was FUD then points out that during bull runs these fake China bans Bitcoin stories often appear in the news, but it never gets banned. Zerohedge lost some credibility in return for making some money from shorting. That's the real reason it published that FUD.

https://news.bitcoin.com/reports-china-bitcoin-exaggerated/

Furthermore historically when the price of Bitcoin rises stories of China and other countries banning Bitcoin have appeared in great number. When Bitcoin was on a tear in 2013 reaching close to $1150 per BTC, these stories came out often. Publications like Bloomberg reported on China cracking down on Bitcoin as well as Forbes, the New York Times, and many others. Typically when these reports published, the price took a dive, but government officials banning Bitcoin never materialized.