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

[Spaceman_Spiff]

If I were chinese I would buy the BTC, withdraw, and then sell OTC, since there won't be any other ways for getting BTC for chinese people in the future.

[QuestionAuthority]

Does anyone have a link for the latest news from China? I'm a little groggy from an all night booze up.

Supposidly Chinese government has banned payment processors from working with Bitcoin exchanges. Leading to the "ok situation" where you can buy and sell bitcoins and withdraw your cash, but you can't put more cash back into the system. (?)

http://www.coindesk.com/china-bans-payment-companies-working-bitcoin-exchanges-sources-claim/

Unfortunately, it seems to be shaping up to be true. :-(

Thanks

Shit, and because of the advice of you dumbasses I reserved half. Fuck!

teach you to listen to us

I should have known better. lol

I did it too...

so now we sell into this 20% drop???

F that, lets see how this plays out.

I may as well at this point.

[crazy_rabbit]

If I were chinese I would buy the BTC, withdraw, and then sell OTC, since there won't be any other ways for getting BTC for chinese people in the future.

Who is going to buy your BTC? It's not like they can give you a crappy rate and turn around and sell them on the exchanges, can they? We were silly to be so gung how about China in the first place.

[adamstgBit]

 

[Spaceman_Spiff]

If I were chinese I would buy the BTC, withdraw, and then sell OTC, since there won't be any other ways for getting BTC for chinese people in the future.

Who is going to buy your BTC? It's not like they can give you a crappy rate and turn around and sell them on the exchanges, can they? We were silly to be so gung how about China in the first place.

Someone who wants to own assets that can escape capital controls.  A rich chinese guy that thinks about a future abroad.

[N12]

We were silly to be so gung how about China in the first place.

Yes, we were.

I predict a massive rise in anti-Chinese sentiment among younger geeks in Europe and North America as this bear market unfolds.

[mmitech]

3900 and counting down

[Mirsad]

3900 and counting down

If we breach 3821, bulls are doomed.

3878! Falling.. 3858

[spooderman]

4001....

[hd060053]

fist time i made market sell order...

[Krabby]

This is a great time for my BTC to be trapped in an exchange huh?

[windjc]

If I were chinese I would buy the BTC, withdraw, and then sell OTC, since there won't be any other ways for getting BTC for chinese people in the future.

Who is going to buy your BTC? It's not like they can give you a crappy rate and turn around and sell them on the exchanges, can they? We were silly to be so gung how about China in the first place.

Well this is worse case scenario.

And ideally we all would have loved for China to help bitcoin reach new heights. But, I put up a poll just 2 weeks ago, asking what would happen if bitcoin got banned in China. I put up that poll because it just felt wrong to have China so bullish on bitcoin. Its a communist state. China are copiers, not innovators. America is an innovator. That is what we do.

So, worst case scenario bitcoin lives without China now. Long term I think this is just fine.

[crazy_rabbit]

OKCoin is reporting they had a theft of over $100,000.  

Of course, that isn't so big in bitcoin land, but it's going to be bad combo of bad news. Not only have they been robbed, but now no way to get more money in the system. One wonders if they might be stuck fractional reserve trading. Of course- not like I could understand something like that through google translate, but more doom and gloom.

https://translate.googleusercontent.com/translate_c?act=url&depth=1&hl=en&ie=UTF8&prev=_t&rurl=translate.google.com&sl=zh-CN&tl=en&u=https://bitcointalk.org/index.php%3FPHPSESSID%3Dcojnmnqfdembvvqfi8907ovvn0%26topic%3D371675.msg3988620&usg=ALkJrhhw5dfkKJgVCgEfGXvHQOJT19Y02A#msg3988620

[Mirsad]

fist time i made market sell order...

SELL



3836 CNY...

3820CNY! YEAH!

Epic Bulltrap closed.

[seljo]

I will buy 50 for 30...

[N12]

When it rains, it pours. Expect more bad news.

[MAbtc]

WEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE 

[Kj1]

CHOOCHOOO MOTHERFERS
To the moon!
Buy Buy Buy!
It'll be a weekend rally!

Glad i didn't listen to you guys

[mmitech]

3800 and still counting down

[crazy_rabbit]

3800 and still counting down

A dead cat bounce down the stairs. There seems to be discussion that you can still withdraw your funds from exchanges, you just can't fund them. So we might be seeing people just cashing out and calling it a day.