600watt
Legendary
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Activity: 2338
Merit: 2106
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December 16, 2013, 07:30:00 PM |
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QuestionAuthority
Legendary
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Activity: 2156
Merit: 1393
You lead and I'll watch you walk away.
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December 16, 2013, 07:30:32 PM |
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It looks like OKCoin is owning the problem. Not so bad, right?
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tutkarz
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December 16, 2013, 07:30:52 PM |
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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. they can sell them in Japan for example and start there normal life
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mmitech
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Activity: 1148
Merit: 1001
things you own end up owning you
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December 16, 2013, 07:31:16 PM |
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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. well it will take us log time to recover, so I am not worried about missing to buy back...
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macsga
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Activity: 1484
Merit: 1002
Strange, yet attractive.
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December 16, 2013, 07:31:23 PM |
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11ams
Newbie
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Activity: 56
Merit: 0
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December 16, 2013, 07:31:29 PM |
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After factoring the news from China into the stages of a bubble model and extrapolating, I've come to the following conclusion: https://i.imgur.com/eup4OKl.jpg
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oda.krell
Legendary
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Activity: 1470
Merit: 1007
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December 16, 2013, 07:31:38 PM |
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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. Probably not advisable. Sell into the rebound, then wait for the next leg down Until you realise you sell at the bottom and that rebound keeps going up..... Easy profit as they say? Not to be a dick, but do you really think we're done with this correction? Not today, I mean, but in the coming weeks?
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N12
Donator
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Activity: 1610
Merit: 1010
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December 16, 2013, 07:32:07 PM |
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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. Damn. The Chinese exchanges are going to be completely emptied this week. Farewell, China. It was nice while it lasted.
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adamstgBit
Legendary
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Activity: 1904
Merit: 1037
Trusted Bitcoiner
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December 16, 2013, 07:32:15 PM |
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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.
if no new money can flow into btcchina, but people can still withdraw money, btcchina is going to near 0. and some luck chinese guy will buy everyone bitcoin really cheap b4 btcchina is forced to close its doors. this is going to be brutal...
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jojo69
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Activity: 3346
Merit: 4655
diamond-handed zealot
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December 16, 2013, 07:33:19 PM |
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After factoring the news from China into the stages of a bubble model and extrapolating, I've come to the following conclusion: post of the day
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mb300sd
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Activity: 1260
Merit: 1000
Drunk Posts
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December 16, 2013, 07:33:57 PM |
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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. I have nothing against the Chinese people. But FUCK YOUR GOVERNMENT! Overthrow that shit already, theres way more of you.
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Tzupy
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Activity: 2170
Merit: 1094
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December 16, 2013, 07:34:29 PM |
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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.
if no new money can flow into btcchina, but people can still withdraw money, btcchina is going to near 0. and some luck chinese guy will buy everyone bitcoin really cheap b4 btcchina is forced to close its doors. this is going to be brutal... And then they'll dump the coins on Western exchanges. That's going to hurt too...
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SheHadMANHands
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Activity: 1168
Merit: 1000
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December 16, 2013, 07:35:12 PM |
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Party is over! Sell your bitcoins and run for cover!
Someone is going to make a killing off this dip. Down 25% due to a rumor about a dictatorship 1/2 way around the world, where you couldn't buy anything with BTC anyway.
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QuestionAuthority
Legendary
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Activity: 2156
Merit: 1393
You lead and I'll watch you walk away.
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December 16, 2013, 07:35:22 PM |
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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.
if no new money can flow into btcchina, but people can still withdraw money, btcchina is going to near 0. and some luck chinese guy will buy everyone bitcoin really cheap b4 btcchina is forced to close its doors. this is going to be brutal... I hope Goat is still asleep. That bastard will buy it all before we get a chance.
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TheCoinBull
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December 16, 2013, 07:35:44 PM |
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Just cashed out 3k for now
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adamstgBit
Legendary
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Activity: 1904
Merit: 1037
Trusted Bitcoiner
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December 16, 2013, 07:36:57 PM |
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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.
if no new money can flow into btcchina, but people can still withdraw money, btcchina is going to near 0. and some luck chinese guy will buy everyone bitcoin really cheap b4 btcchina is forced to close its doors. this is going to be brutal... I hope Goat is still asleep. That bastard will buy it all before we get a chance. oh this sucks this sucks bad.
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adamstgBit
Legendary
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Activity: 1904
Merit: 1037
Trusted Bitcoiner
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December 16, 2013, 07:38:04 PM |
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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.
if no new money can flow into btcchina, but people can still withdraw money, btcchina is going to near 0. and some luck chinese guy will buy everyone bitcoin really cheap b4 btcchina is forced to close its doors. this is going to be brutal... And then they'll dump the coins on Western exchanges. That's going to hurt too... not before Western exchanges have already dropped alot to price in this calamity omg this is so bad.
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oda.krell
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Activity: 1470
Merit: 1007
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December 16, 2013, 07:38:12 PM |
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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. I call bullshit on the "Chinese are copiers, American's are innovators". That's exactly what Europe said about the US ~100 years ago. Took a while, then the US became an innovator itself. Will be exactly the same with China, only faster IMO. Anyway, let's be realistic about China's influence on price, and what it all means for us: I don't buy the narrative that the entire wave up from 125 USD (bitstamp) was due to the Chinese miracle, but it was a large factor. So realistically, anything above the April's ATH of ~250 is a gift. And I don't even see us going that low quite yet (although 500 is a real option, I'd say)
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adsdas
Sr. Member
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Activity: 337
Merit: 250
https://streamies.io/
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December 16, 2013, 07:38:41 PM |
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Bitcoin is officially dead! Time to move on with our lives!
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jojo69
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Activity: 3346
Merit: 4655
diamond-handed zealot
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December 16, 2013, 07:39:22 PM |
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lol
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