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

[600watt]

http://uk.reuters.com/article/us-china-bitcoin-idUKKBN14Q1A4

China's institutional and individual investors should take a rational approach to investing in virtual currencies such as bitcoin, the central bank said on Friday.

Bitcoin prices had showed abnormal fluctuations, the Shanghai head office of the People's Bank of China (PBOC) said in a notice.

This prompted branch officials to meet representatives of a major bitcoin trading platform in China, BTCC.

They cautioned against potential risks in the platform's operations and asked it to carry out "self-inspection" according to the law, the bank said.

It stressed bitcoin is not a currency and cannot be circulated as a real currency in the market.

(Reporting by Yawen Chen and Kevin Yao; Editing by Clarence Fernandez)

so with "rational" they mean "no bubbling"?

this is really weird. chinese folks invest in anything that serves the intention. even gemstones and other bizarre stuff. pboc never cares about this. but bitcoin they have on the radar. a measly 15 billion market. that is like an average s&p500 company = nothing. the only explanation is: bitcoin is a chinese gov project. and they want it to succeed carefully. they aim at the dollar. we are safe.  /tinfoil hat off...

edit: typo

[rezurect]

Yeah if it can make them money they will invest, easy as that.

[Scaccomatt0]

someone is walling down

[slap]

Too much of coincidence it hit 8888 on huobi just before sliding down.

[savetherainforest]

Too much of coincidence it hit 8888 on huobi just before sliding down.

They are a gambling nation... Some bought in at 8888 because they thought it was lucky.. and some sold at 8888 because it thought it was lucky! ... Its just the usual, casual chinese nonsense! Chinese logic! $Cha-Ching! $Cha-Ching! 

[Spaceman_Spiff]

I am quite sure we are going up now.
Unfortunately I underestimated the magnitude of the downwards correction, so now I am mostly looking to recoup my losses.
I know hindsight is 20/20, but this was really within the range of the predictable, and I should have made out like a bandit   .  Ah well...

[BlindMayorBitcorn]

What a joke.

[offliberty]

I am quite sure we are going up now.
Unfortunately I underestimated the magnitude of the downwards correction, so now I am mostly looking to recoup my losses.
I know hindsight is 20/20, but this was really within the range of the predictable, and I should have made out like a bandit  .  Ah well...

Cheers mate. Happy recovering. Stuck as well  Shitty day to start the week end.


Which are your favorite crypto-related Twitter accounts to follow ? I'm currently setting up alerts via IFTTT that automatically pushes me news I would miss otherwise.

[arklan]

well, that drop hurt, and i'm only watching.

[Spaceman_Spiff]

I am quite sure we are going up now.
Unfortunately I underestimated the magnitude of the downwards correction, so now I am mostly looking to recoup my losses.
I know hindsight is 20/20, but this was really within the range of the predictable, and I should have made out like a bandit  .  Ah well...

Cheers mate. Happy recovering. Stuck as well  Shitty day to start the week end.

Which are your favorite crypto-related Twitter accounts to follow ? I'm currently setting up alerts via IFTTT that automatically pushes me news I would miss otherwise.

I don't actively follow any twitter accounts.  Guess I am getting old  .

[JimboToronto]

Good morning Bitcoinland.

Just got back from from buying a little more, just a half a coin today, but half a coin is better than none at all. Missed the bottom yesterday but hopefully caught it today.

Now we're scrapping over support at $900... currently $918USD at Bitcoinaverage. Meanwhile we're hanging tough at $1208 CAD, basically where we were at Xmas.

Hopefully that was the double bottom that will send it back up.

[rezurect]

Good morning Bitcoinland.

Just got back from from buying a little more, just a half a coin today, but half a coin is better than none at all. Missed the bottom yesterday but hopefully caught it today.

Now we're scrapping over support at $900... currently $918USD at Bitcoinaverage. Meanwhile we're hanging tough at $1208 CAD, basically where we were at Xmas.

Hopefully that was the double bottom that will send it back up.

Double bottom on which timeframe?

[JimboToronto]

Double bottom on which timeframe?

Correction/profit-taking of the last couple of days.

[SnokkomBTC]

Good morning Bitcoinland.

Just got back from from buying a little more, just a half a coin today, but half a coin is better than none at all. Missed the bottom yesterday but hopefully caught it today.

Now we're scrapping over support at $900... currently $918USD at Bitcoinaverage. Meanwhile we're hanging tough at $1208 CAD, basically where we were at Xmas.

Hopefully that was the double bottom that will send it back up.

Double bottom on which timeframe?

6H till 30M

[ACAB]

Just a normal shakeout after a pump like btc just saw. in a month we'll be heading back up and we'll be even stronger.

[DefendKebab]

Just a normal shakeout after a pump like btc just saw. in a month we'll be heading back up and we'll be even stronger.

[molecular]

There is no doubt in my mind that the peoples of this world desperately need cryptocurrency. They NEED bitcoin.

Governments all over the world are trying to eliminate cash, they are confiscating gold, stealing wealth from the people. They want all your money in a bank account so it can be tracked or taken from you at any time.

The Central Bankers, in their endless greed profit from this system in many ways, endlessly concentrating the vast majority of the world's wealth in the hands of only a few dozen people. This is creating untold suffering and a system of economic slavery that is destroying the planet itself.

The fucking world needs this fucking technology to succeed, god damn it.

We better get our fucking shit together and make this shit fucking work. The scaling issue MUST be solved, one way or another. Core needs to get on board or they need to get kicked the FUCK out.

This isn't just about personal profit, although we will all certainly be billionaires if we succeed. A convenient side effect.

But what it's really about is breaking the yoke of oppression that has been forced on this world by those who have betrayed humanity itself for their own personal wealth.

That's all I have to say.

this.

right on!

[molecular]

There will be one more dump to about 700/650 and then it will go up again.

no, there won't. 

We wait to tomorrow and see who is right If The price drops to my prediction dont forget to comment

Where are you my friend? 

He's at 650 - 700, right next to his bids. Still waiting.

[practicaldreamer]

What role does shorting play in a market ?

What does it bring to the table ?

Serious question.

Or is it just parasitic ?

[JimboToronto]

What role does shorting play in a market ?

What does it bring to the table ?

Serious question.

Or is it just parasitic ?

 

Of course it's parasitic. All margin trading is.

It's showmen (exchanges) preying on the rubes (traders).