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

[KieranJones1]

The important thing is that the Chinese government have eventually 'showed their hand', which we have all been waiting for. And it's not good news.

Oh my god, you don't get it, do you? We "bulls" (as you call us) have explained why we think this is good news. If you want to argue, you need to explain why you think this is bad news. If you can't do that, we're going to carry on ignoring you.

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[Davyd05]

This is just getting started guys, stop suffering from myopia.

When I step back, by 20/20 vision sees triangles forming. Are you suggesting that they should see the price dropping further?

Yes, I'd say theres a relatively small percentage of the bitcoin world actually seen this crash and news so far. Lets even say 50%. When they log on and see their purchases at 1050+ are now sub 1000, there could be even larger sell off's.

But the news has already updated to say it's not such bad news. With that, I can't see latecomers panic selling when the charts also look like they might be bottoming.

Dude stop reading what some bull manipulates the news to say as fact. It's bad news full stop. China's banning financial institutions from handling bitcoin transactions, if you see that as good news for Chinese exchanges or for bitcoin in China alone, your deluded.

"At this stage, all financial institutions and payment institutions" - http://www.reddit.com/r/Bitcoin/comments/1s5hzl/my_human_translation_of_the_china_regulation/

Do you actually inform yourself before posting? I take this as "We'll first check how we can tax the shit out of this"

The important thing is that the Chinese government have eventually 'showed their hand', which we have all been waiting for. And it's not good news.

What by following suit with North America.. lol @ chicken little.

[Rampion]

This is just getting started guys, stop suffering from myopia.

When I step back, by 20/20 vision sees triangles forming. Are you suggesting that they should see the price dropping further?

Yes, I'd say theres a relatively small percentage of the bitcoin world actually seen this crash and news so far. Lets even say 50%. When they log on and see their purchases at 1050+ are now sub 1000, there could be even larger sell off's.

But the news has already updated to say it's not such bad news. With that, I can't see latecomers panic selling when the charts also look like they might be bottoming.

Dude stop reading what some bull manipulates the news to say as fact. It's bad news full stop. China's banning financial institutions from handling bitcoin transactions, if you see that as good news for Chinese exchanges or for bitcoin in China alone, your deluded.

"At this stage, all financial institutions and payment institutions" - http://www.reddit.com/r/Bitcoin/comments/1s5hzl/my_human_translation_of_the_china_regulation/

Do you actually inform yourself before posting? I take this as "We'll first check how we can tax the shit out of this"

The important thing is that the Chinese government have eventually 'showed their hand', which we have all been waiting for. And it's not good news.

Don't know if you are:

1) a troll
2) a pig getting slaughtered (A.K.A. "a retard")
3) a noob trying to talk down the price down so he can load the truck with cheap coins

Please advise.

[rpietila]

Dude stop reading what some bull manipulates the news to say as fact. It's bad news full stop. China's banning financial institutions from handling bitcoin transactions, if you see that as good news for Chinese exchanges or for bitcoin in China alone, your deluded.

Is your perspective now the following hours, days, weeks or months?

"Bad news for Bitcoin" as a generalization does not exist, because nothing can stop Bitcoin. It is just a question of the way.

Pls elaborate.

[niothor]

Don't know if you are:

1) a troll
2) a pig getting slaughtered (A.K.A. "a retard")
3) a noob trying to talk down the price down so he can load the truck with cheap coins

Please advise.

How much fiat/bitcoins % you in right now?

[maz]

The important thing is that the Chinese government have eventually 'showed their hand', which we have all been waiting for. And it's not good news.

Oh my god, you don't get it, do you? We "bulls" (as you call us) have explained why we think this is good news. If you want to argue, you need to explain why you think this is bad news. If you can't do that, we're going to carry on ignoring you.

Please go ahead, your an idiot.

[iarsenaux]

have you noticed that btcchina is still down? any idea why is it still down right now?

[CryptStorm]

so, check this out

"...The Notice requires, the Bitcoin websites that act as the main trading platform, should follow the Telecommunications Act and the Regulation on Internet Information Service, and register according to law. ..."

Somebody just got a sweet deal *cough, owner of BTCChina, cough*

Must be nice to get an inside deal. *cough, money exchanges hands, cough*

[niothor]

You guys realize we had so much China hype , China that , China is and 4 hours after this s** was unleashed we still have just one so and so translation about what's going there?
Real information about China trends are at minimum?

[ajax3592]

Brace yourselves market gonna crash. Two reasons -

#1 China banned banks from Bitcoin transactions

#2 Sheep Market place theft of $400 million, much bigger than silk road

[wachtwoord]

so, check this out

"...The Notice requires, the Bitcoin websites that act as the main trading platform, should follow the Telecommunications Act and the Regulation on Internet Information Service, and register according to law. ..."

Somebody just got a sweet deal *cough, owner of BTCChina, cough*

Must be nice to get an inside deal. *cough, money exchanges hands, cough*

What advantage does BTCCHina have for which you suggest they've had to pay?

[wachtwoord]

Brace yourselves market gonna crash. Two reasons -

#1 China banned banks from Bitcoin transactions

#2 Sheep Market place theft of $400 million, much bigger than silk road

Remember when Silkroad closed down?

[Rannasha]

Nice panic-crash today. I have more BTC and more € than when I woke up this morning.

It's too bad that I can't move my € around between exchanges fast enough

[KieranJones1]

Brace yourselves market gonna crash. Two reasons -

#1 China banned banks from Bitcoin transactions

Please explain why this is going to destroy bitcoin. Banks are definitely, definitely not why bitcoin has historically been valuable in the US or in China. This is less relevant than if, for instance, they'd banned fancy dress costume shops from using bitcoin.

#2 Sheep Market place theft of $400 million, much bigger than silk road

This is only an issue if the person who stole the coins sells them all at once, which would be a really stupid idea since it would give away their identity straight away. I think the coins will be slowly sold off. Very slowly.

[CMMPro]

have you noticed that btcchina is still down? any idea why is it still down right now?

BTCChina is not down. I see trades running normally.
They are coming back up as fast as we did.

[niothor]

Brace yourselves market gonna crash. Two reasons -

#1 China banned banks from Bitcoin transactions

#2 Sheep Market place theft of $400 million, much bigger than silk road

How did you get by that number?  Weren't 95000 coins?

[maz]

Dude stop reading what some bull manipulates the news to say as fact. It's bad news full stop. China's banning financial institutions from handling bitcoin transactions, if you see that as good news for Chinese exchanges or for bitcoin in China alone, your deluded.

Is your perspective now the following hours, days, weeks or months?

"Bad news for Bitcoin" as a generalization does not exist, because nothing can stop Bitcoin. It is just a question of the way.

Pls elaborate.

Yes I agree, just getting caught up in the excitement. Like I said earlier I still think 1mill per coin is going to happen. But this is a temporary bad news. I think we will feel the effects of this for a few weeks, if not months. Not only because of what has happened in China but because it will effect the confidence of all our new investors, small or big. The media which has helped rally us to our latest ATH with such voracity will act as a two edged sword and now do the opposite touting the crash which will upset our adoption rate.

I don't think we will see several months like the last time, but we will have to go into a bear market for a few months, forget this bad news, recuperate, get more good news, and advance on another ATH attack, how long that takes, I have no idea.

This could be a possibility.

[ajax3592]

Brace yourselves market gonna crash. Two reasons -

#1 China banned banks from Bitcoin transactions

#2 Sheep Market place theft of $400 million, much bigger than silk road

How did you get by that number?  Weren't 95000 coins?

Check this transaction
https://blockchain.info/address/1CbR8da9YPZqXJJKm9ze1GYf67eKAUfXwP?offset=0&filter=0

[BitThink]

Simply said, what China bans in this notice does not exists in any country yet. As far as I know no bank is using bitcoin as a currency in all over the world. Even Germany treats it as a private currency. Could you tell me any bank is doing bitcoin transactions? Do you really believe any bank will accept bitcoin as one of the currencies in the near future? The announcement of China has no surprise at all.

On the other hand, previously exchanges are in gray area but now they have chance to be 'white'.

[Davyd05]

Dude stop reading what some bull manipulates the news to say as fact. It's bad news full stop. China's banning financial institutions from handling bitcoin transactions, if you see that as good news for Chinese exchanges or for bitcoin in China alone, your deluded.

Is your perspective now the following hours, days, weeks or months?

"Bad news for Bitcoin" as a generalization does not exist, because nothing can stop Bitcoin. It is just a question of the way.

Pls elaborate.

Yes I agree, just getting caught up in the excitement. Like I said earlier I still think 1mill per coin is going to happen. But this is a temporary bad news. I think we will feel the effects of this for a few weeks, if not months. Not only because of what has happened in China but because it will effect the confidence of all our new investors, small or big. The media which has helped rally us to our latest ATH with such voracity will act as a two edged sword and now do the opposite touting the crash which will upset our adoption rate.

I don't think we will see several months like the last time, but we will have to go into a bear market for a few months, forget this bad news, recuperate, get more good news, and advance on another ATH attack, how long that takes, I have no idea.

this was a smaller crash than last week.. if China was so bearish from the news they'd be selling.. they're not, they'll gox test the 1100s first for sure.