BlindMayorBitcorn
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Activity: 1260
Merit: 1116
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September 08, 2017, 09:21:36 PM |
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Meuh6879
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Activity: 1512
Merit: 1012
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September 08, 2017, 09:34:27 PM |
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_javi_
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September 08, 2017, 09:37:20 PM |
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http://www.caixinglobal.com/2017-09-09/101142821.html?sourceEntityId=101142797"the source added that the crackdown targets unauthorized trading at virtual currency exchanges, rather than Bitcoin and the underlying blockchain technology." it is not about BTC, not even a ban. the PBoC just want to keep stuff under control.. no surprise there. ok, now you can continue dumping, dumbasses.. see ya next year at 10k.
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JayJuanGee
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Activity: 3850
Merit: 10884
Self-Custody is a right. Say no to"Non-custodial"
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September 08, 2017, 09:39:42 PM |
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Interesting, the volume ... decrease. More waves for october/november ... or january ? I find the weekly volume to be a better indicator than the daily volume - and even a better indicator than the 3 day volume bars. Whales move their volume in a couple day (or even several day) increments, so frequently, it is difficult to see through some of the noise when you attempt to rely upon either the three day candles or the 1 day candles to make trade volume trend determinations. Also sometimes it takes several weeks to come to any kind of meaningful conclusion about whether BTC trade volumes are up, down or flat. Personally, I have tentatively determined that at this time, we are in about a 20 week streak of higher than average BTC trade volumes, and the previous time that we had this kind of streak of higher than average BTC trade volumes was in late 2015 - which was in the lower 20 weeks. That streak was about between early August and late December 2015 before we experienced a kind of consolidation period. Surely the battle was not resolved in 2015, and later we realized that the bulls had won that battle; however, largely we were not able to clearly come to such conclusion until after the about 6 month consolidation period in which in May 2016 BTC prices clearly and unambiguously broke above $500 - never to return to those levels (so sometimes it can take a considerable amount of time to actually see what is happening and to determine either what the shorter term outcome has been and possibly figure out if we are in a bear market, bull market or still transitioning in some kind of way). Surely, BTC trade volumes can dry up at any time; however, I am thinking that currently, we have so much fucking craziness going on in the crypto-space (certainly including bitcoin) that we are likely to continue to have these kinds of price battles and above average trade volumes continuing from here and until at least the beginning of 2018. By the way, a price battle means that the sides cannot agree about the current price and they are willing to bet money in each direction in order to attempt to get their way and to get the price to move in the direction that they believe it should go. Of course, bears are betting downwards and bulls are betting upwards. So, yeah, I don't know what it is going to mean in terms of the BTC price or the resolution of the BTC price in this clearly ongoing battle that is about week 20 of its current iteration; however, as I type, I think that there are pretty decent odds that bulls are going to win this particular BTC price battle - and especially by sometime before early 2018 (could happen sooner or could happen later) and due to the likely victory of the bulls (maybe greater than 58% chances?) we are going to get overall upwards BTC price movement before we get downwards - and that BTC trade volume will only go back to more "normal" levels after these up and down price movements and battles have resolved - in either direction... and like I already asserted, it could take several months for the battle and the movement to play out.
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gentlemand
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Activity: 2590
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Welt Am Draht
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September 08, 2017, 09:43:41 PM |
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http://www.caixinglobal.com/2017-09-09/101142821.html?sourceEntityId=101142797"the source added that the crackdown targets unauthorized trading at virtual currency exchanges, rather than Bitcoin and the underlying blockchain technology." it is not about BTC, not even a ban. the PBoC just want to keep stuff under control.. no surprise there. ok, now you can continue dumping, dumbasses.. see ya next year at 10k. “It means platforms facilitating trading between virtual currencies and legal tenders will not be allowed in China,” That rather sounds like all of it. Your quoted sentence means Bitcoin isn't banned, just the ability to trade it on exchanges.
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becoin
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Activity: 3431
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September 08, 2017, 09:52:58 PM |
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see ya next year at 10k. 10k is this year, not next year! China will never really ban bitcoin whatever they say. If they ban it now there will be nothing to ban next time! They can't afford saying "we can't do anything about bitcoin being regulated". Because they must earn their salaries. They'll keep trying although they know they can't do anything. China is not an exception. Many regulatory agencies in many countries are exactly in this same situation. So, nothing really new.
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El duderino_
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Activity: 2646
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BTC + Crossfit, living life.
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September 08, 2017, 09:57:40 PM |
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http://www.caixinglobal.com/2017-09-09/101142821.html?sourceEntityId=101142797"the source added that the crackdown targets unauthorized trading at virtual currency exchanges, rather than Bitcoin and the underlying blockchain technology." it is not about BTC, not even a ban. the PBoC just want to keep stuff under control.. no surprise there. ok, now you can continue dumping, dumbasses.. see ya next year at 10k. Mmmm you think 10k only to be Deen next Year....??
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xhomerx10
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Activity: 3976
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September 08, 2017, 10:04:03 PM |
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I saw that same image last night and rushed outside only to see clouds. I saw the most beautiful display about 11 years ago and I've been waiting to see them again ever since. Some day if bitcoin continues to cooperate, I'm going to take a trip to Alaska... Or Finland... Maybe both!
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Last of the V8s
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Activity: 1652
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Be a bank
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September 08, 2017, 10:05:41 PM |
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600watt
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September 08, 2017, 10:20:46 PM |
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http://www.caixinglobal.com/2017-09-09/101142821.html?sourceEntityId=101142797"the source added that the crackdown targets unauthorized trading at virtual currency exchanges, rather than Bitcoin and the underlying blockchain technology." it is not about BTC, not even a ban. the PBoC just want to keep stuff under control.. no surprise there. ok, now you can continue dumping, dumbasses.. see ya next year at 10k. “It means platforms facilitating trading between virtual currencies and legal tenders will not be allowed in China,” That rather sounds like all of it. Your quoted sentence means Bitcoin isn't banned, just the ability to trade it on exchanges. it is bizarre that 9 hours after the beginning of this fuck up, it is not even known for sure what is really going on. even by bitcoin standards. I mean, all participants are digitally interconnected in multiple ways, and yet we have no fucking clue what is really true.
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gentlemand
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Activity: 2590
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Welt Am Draht
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September 08, 2017, 10:24:23 PM |
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it is bizarre that 9 hours after the beginning of this fuck up, it is not even known for sure what is really going on. even by bitcoin standards. I mean, all participants are digitally interconnected in multiple ways, and yet we have no fucking clue what is really true.
I seem to remember it took multiple months before anyone knew what the score was with the China Ban in 2013.
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Romanknickl
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September 08, 2017, 10:29:13 PM |
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China Bitcoin ban Number 17 or 18..? that's ridiculous!
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JayJuanGee
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Activity: 3850
Merit: 10884
Self-Custody is a right. Say no to"Non-custodial"
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September 08, 2017, 10:36:52 PM |
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It is just time for a deeper correction, nothing more.
I beg to differ. It had already corrected. I think today's dip can be directly attributed to news of China announcing a clampdown on exchanges. This is a similar situation to last January when the natural correction after breaking $1k was immediately followed by The PBoC announcing an investigation of the exchanges, causing a panic. After a short recovery, the PBoc started visiting the exchanges and then froze btc withdrawals causing another panic. This time the natural correction after passing $5k was immediately followed by the PBoC outlawing ICOs, causing a panic. After a short recovery, the news of yet another Chinese action against the exchanges caused another panic. We all know what happened to the price after January's panic subsided. Didn't we learn that China's importance in Bitcoin was over-rated? This too will pass. so you think no bigger dive for this time ?? just bought few coins like 1 hour before the dip Sell everything micgoosens!!!!!!!! no my friend THAN the whole market will colapse Well, we would not want the whole BTC market to collapse, right? - so maybe it would be a good idea for you to give a little bit more of your stash away, in order for you to stave off some of your sell inclinations.
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soullyG
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September 08, 2017, 10:36:58 PM |
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it is bizarre that 9 hours after the beginning of this fuck up, it is not even known for sure what is really going on. even by bitcoin standards. I mean, all participants are digitally interconnected in multiple ways, and yet we have no fucking clue what is really true.
I seem to remember it took multiple months before anyone knew what the score was with the China Ban in 2013.
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itod
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Activity: 1974
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^ Will code for Bitcoins
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September 08, 2017, 10:52:45 PM |
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it is bizarre that 9 hours after the beginning of this fuck up, it is not even known for sure what is really going on. even by bitcoin standards. I mean, all participants are digitally interconnected in multiple ways, and yet we have no fucking clue what is really true.
I seem to remember it took multiple months before anyone knew what the score was with the China Ban in 2013. Is it so hard for someone who speaks a language to translate the essence in two sentences? There are not so many options, most probably: a) China banned going in/out from fiat (Yuan) to crypto, or b) China banned crypto/crypto exchanges, or c) something completely different. It looks to me that a) is in case here, and people want at least some Yuan to cover the expanses before that possibility is removed. This can explain this $1000 daily price drop.
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El duderino_
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Activity: 2646
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BTC + Crossfit, living life.
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September 08, 2017, 10:55:13 PM |
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It is just time for a deeper correction, nothing more.
I beg to differ. It had already corrected. I think today's dip can be directly attributed to news of China announcing a clampdown on exchanges. This is a similar situation to last January when the natural correction after breaking $1k was immediately followed by The PBoC announcing an investigation of the exchanges, causing a panic. After a short recovery, the PBoc started visiting the exchanges and then froze btc withdrawals causing another panic. This time the natural correction after passing $5k was immediately followed by the PBoC outlawing ICOs, causing a panic. After a short recovery, the news of yet another Chinese action against the exchanges caused another panic. We all know what happened to the price after January's panic subsided. Didn't we learn that China's importance in Bitcoin was over-rated? This too will pass. so you think no bigger dive for this time ?? just bought few coins like 1 hour before the dip Sell everything micgoosens!!!!!!!! no my friend THAN the whole market will colapse Well, we would not want the whole BTC market to collapse, right? - so maybe it would be a good idea for you to give a little bit more of your stash away, in order for you to stave off some of your sell inclinations. Mmmm i was offring to make another guessing game..... but you said its not the micgoossens show-attention attemp-blabla..... So i respect This maybe understand few Guy's dont like something like that in here , but for the other that did like iT as a kind of amusement ..... i think its sorry Just dont understand why you ...? Maybe because you absoluty did't had any clue of what was happening and surely didn't have a opinion to back youre date up .....can't be anything else :-) :p
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BlindMayorBitcorn
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September 08, 2017, 10:56:32 PM Last edit: September 09, 2017, 12:22:35 AM by BlindMayorBitcorn |
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I saw that same image last night and rushed outside only to see clouds. I saw the most beautiful display about 11 years ago and I've been waiting to see them again ever since. Some day if bitcoin continues to cooperate, I'm going to take a trip to Alaska... Or Finland... Maybe both! I understand Yellowknife is nice this time of year. Lots of Japanese tourists. Edit: It's actually a godforsaken, snow-covered moonscape.
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DaRude
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In order to dump coins one must have coins
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September 08, 2017, 10:57:20 PM |
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it is bizarre that 9 hours after the beginning of this fuck up, it is not even known for sure what is really going on. even by bitcoin standards. I mean, all participants are digitally interconnected in multiple ways, and yet we have no fucking clue what is really true.
I seem to remember it took multiple months before anyone knew what the score was with the China Ban in 2013. Welcome to unregulated market. There's nothing to prevent someone from front running the news. Looks like currently China is trading at deep discount, which brings some validity to the rumors. BTC is priced for its potential and not current utilization, as such market is very emotional and will react violently to any news. Money always brings smart people who will pick up on these things and try to exploit it. So yes it will continue for foreseeable future, now the game is to wait for actual news to hit and figuring out if the market over or underestimated it.
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kurious
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September 08, 2017, 11:04:15 PM |
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it is bizarre that 9 hours after the beginning of this fuck up, it is not even known for sure what is really going on. even by bitcoin standards. I mean, all participants are digitally interconnected in multiple ways, and yet we have no fucking clue what is really true.
I seem to remember it took multiple months before anyone knew what the score was with the China Ban in 2013. Welcome to unregulated market. There's nothing to prevent someone from front running the news. Looks like currently China is trading at deep discount, which brings some validity to the rumors. BTC is priced for its potential and not current utilization, as such market is very emotional and will react violently to any news. Money always brings smart people who will pick up on these things and try to exploit it. So yes it will continue for foreseeable future, now the game is to wait for actual news to hit and figuring out if the market over or underestimated it. i'd wager... overestimated it. HoneyBadger don't give a shit.
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