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

[DaRude]

Wait a second a communist country with the  firewall of china blocking facebook, youtube, twitter etc... Has two different currencies (CNY CNH)  for mainland and others, and only allows their citizens to withdraw $50k a year out of the country didn't embrace a revolutionary free currency it cannot control with open arms?!?! No way!!! Although to be fair i expected it to be a bit further in the game

[TheCoinBull]

Bottom: When china is awake...., and a low has been reached..... stage two rebound. from 3251 - current 3670, almost as if the dumb china have sold, while smart held and are buying. almost how the rest of the world loses on BTC everyday... imagine that

[adamstgBit]

without deposits coming in and withdraws still going out, BTCChina will become the opposite of gox and always be 2-5% lower?
or btcchina crashes to zero?

this gana be weird.....

they should just halt trading and give everyone their monies back, but they wont do that, so this is gana be weird....

WTF? where did you get this FUD?

BTCchina users have already said bank withdraws still work...

Only the specified payment networks are no longer available...

This is why you should just lock this damn thread. All FUD and BS.

the news was saying withdraws will still work but deposits will stop

no?

No from what i read the "news" (not even a news but rumours), after Chinese New Years all institutions will halt business with btc exchange awaiting for rules and regulations.

3rd Party payment network decide to stop on their own.

so we bounce now?

we need more info to move, price needs to stop moving on this FUD

i'm pretty sure buying the dip was a good idea....

[adamstgBit]

when i wake up tomorrow, price will be .... 800!

ok go!

[seriouscoin]

without deposits coming in and withdraws still going out, BTCChina will become the opposite of gox and always be 2-5% lower?
or btcchina crashes to zero?

this gana be weird.....

they should just halt trading and give everyone their monies back, but they wont do that, so this is gana be weird....

WTF? where did you get this FUD?

BTCchina users have already said bank withdraws still work...

Only the specified payment networks are no longer available...

This is why you should just lock this damn thread. All FUD and BS.

the news was saying withdraws will still work but deposits will stop

no?

No from what i read the "news" (not even a news but rumours), after Chinese New Years all institutions will halt business with btc exchange awaiting for rules and regulations.

3rd Party payment network decide to stop on their own.

so we bounce now?

we need more info to move, price needs to stop moving on this FUD

i'm pretty sure buying the dip was a good idea....

I still dont get why there is no official statements from either CCCP or payment networks or exchanges.

Bitcoin is way beyond China anway. I dont expect any future services/features built on BTC coming from China. As for speculative vehicle, btc will be used for anything from tax evasion to capital leaking in China if this the way CCCP choose to handle btc.

As much as they want to control Internet content, the best they could do was steal Google and forced Baidu..... well not very effective is it?

[jl2012]

without deposits coming in and withdraws still going out, BTCChina will become the opposite of gox and always be 2-5% lower?
or btcchina crashes to zero?

this gana be weird.....

they should just halt trading and give everyone their monies back, but they wont do that, so this is gana be weird....

It won't crash to zero. For example, the exchange operator could buy up all the cheap coins, and sell at a higher price overseas.

And also, theoretically, people could deposit with cash.

[BitThink]

without deposits coming in and withdraws still going out, BTCChina will become the opposite of gox and always be 2-5% lower?
or btcchina crashes to zero?

We still have no proof that BTCChina is shutting down, correct?

Here are the possibilities as I see them:

1.  All yuan transfers to BTCChina are banned.

2.  Only 3rd-party payment processor transfers are banned.  That is, you are still permitted to deposit and withdraw to/from BTCChina using your bank account.  (This change was made so that China could keep a better track of capital flows for AML purposes.)

3.  This is all FUD and nothing has changed.

It's most likely 2, but meanwhile bank support will be strictly controlled.

[TheCoinBull]

when i wake up tomorrow, price will be .... 800!

ok go!

i suspect this might be the case

I concur

[BitThink]

without deposits coming in and withdraws still going out, BTCChina will become the opposite of gox and always be 2-5% lower?
or btcchina crashes to zero?

this gana be weird.....

they should just halt trading and give everyone their monies back, but they wont do that, so this is gana be weird....

It won't crash to zero. For example, the exchange operator could buy up all the cheap coins, and sell at a higher price overseas.

And also, theoretically, people could deposit with cash.

Deposit is still possible, just the daily limit of the new 3rd part service is small, at least for me.

[BitThink]

without deposits coming in and withdraws still going out, BTCChina will become the opposite of gox and always be 2-5% lower?
or btcchina crashes to zero?

this gana be weird.....

they should just halt trading and give everyone their monies back, but they wont do that, so this is gana be weird....

WTF? where did you get this FUD?

BTCchina users have already said bank withdraws still work...

Only the specified payment networks are no longer available...

This is why you should just lock this damn thread. All FUD and BS.

the news was saying withdraws will still work but deposits will stop

no?

No from what i read the "news" (not even a news but rumours), after Chinese New Years all institutions will halt business with btc exchange awaiting for rules and regulations.

3rd Party payment network decide to stop on their own.

so we bounce now?

we need more info to move, price needs to stop moving on this FUD

i'm pretty sure buying the dip was a good idea....

I still dont get why there is no official statements from either CCCP or payment networks or exchanges.

Bitcoin is way beyond China anway. I dont expect any future services/features built on BTC coming from China. As for speculative vehicle, btc will be used for anything from tax evasion to capital leaking in China if this the way CCCP choose to handle btc.

As much as they want to control Internet content, the best they could do was steal Google and forced Baidu..... well not very effective is it?

It's an internal meeting between central bank and 3rd payment service providers. It's not necessary needs to be public, but it has been publicly reported in the media already. Moreover, Tenpay has been removed from all exchanges already.

What remains uncertain is only whether bank service will be allowed and how supportive the banks could be.

[Phinnaeus Gage]

without deposits coming in and withdraws still going out, BTCChina will become the opposite of gox and always be 2-5% lower?
or btcchina crashes to zero?

this gana be weird.....

they should just halt trading and give everyone their monies back, but they wont do that, so this is gana be weird....

It won't crash to zero. For example, the exchange operator could buy up all the cheap coins, and sell at a higher price overseas.

And also, theoretically, people could deposit with cash.

Or sell to all the rappers and rapper-wanna-bes to wear as bling.

[jojo69]

(or thats how the CCCP think)\

[Bitcoin Machine]

I personally like to keep healthy thoughts based on long term projections within healthy ranges.  A healthy Bull is good too.

[Vigil]

Gox is having multiple personality disorder and I think it is driving me insane along with it.

[DaRude]

Wait a second a communist country with the  firewall of china blocking facebook, youtube, twitter etc... Has two different currencies (CNY CNH)  for mainland and others, and only allows their citizens to withdraw $50k a year out of the country didn't embrace a revolutionary free currency it cannot control with open arms?!?! No way!!! Although to be fair i expected it to be a bit further in the game

They use 2 currencies to keep their internal economy separate from their external economy, its hard to make your books balance when the stuff goes out and doesn't come back, you have to keep printing more just to keep buying. I doubt there's much stopping anyone taking bucket loads of the internal cash over the border but it wouldn't be much use to them once its out. The currency for external trade would be easy to manage except there's some creative accounting with exchange rates, the only reason China has to go against bitcoin for that is it would make their own creative accounting more difficult.

I'm not sure maybe someone can answer how friendly communist border guards are, but i for one wouldn't want to be caught with over $50k on a Chinese border

[ChartBuddy]

[TiagoTiago]

Btw, does anyone knows what happened to that Chinese factory that was accepting payments in Bitcoin for building ASIC chips? (i forgot which company had that deal)

[slakeco]

On the day when China goes to the Moon

http://news.bbcimg.co.uk/media/images/71745000/jpg/_71745914_020346695-1.jpg

it stops BTC momentum dead in it's tracks.

http://news.bbcimg.co.uk/media/images/71745000/jpg/_71745916_020343580-1.jpg

Quit hogging all the Moon China!

http://www.bbc.co.uk/news/science-environment-25356603

[User705]

Wait a second a communist country with the  firewall of china blocking facebook, youtube, twitter etc... Has two different currencies (CNY CNH)  for mainland and others, and only allows their citizens to withdraw $50k a year out of the country didn't embrace a revolutionary free currency it cannot control with open arms?!?! No way!!! Although to be fair i expected it to be a bit further in the game

They use 2 currencies to keep their internal economy separate from their external economy, its hard to make your books balance when the stuff goes out and doesn't come back, you have to keep printing more just to keep buying. I doubt there's much stopping anyone taking bucket loads of the internal cash over the border but it wouldn't be much use to them once its out. The currency for external trade would be easy to manage except there's some creative accounting with exchange rates, the only reason China has to go against bitcoin for that is it would make their own creative accounting more difficult.

I'm not sure maybe someone can answer how friendly communist border guards are, but i for one wouldn't want to be caught with over $50k on a Chinese border

That's the point, if you want something you can use outside China you need the external currency which is controled, the internal currency would be worthless because it cant be exchanged for anything outside China.

Exactly so Bitcoin won't help them with that since sellers still need to pull cny out of the country somehow and that's not possible.  I wonder if there's a way to use that currency to purchase goods for export.

[TheCoinBull]

Its 1PM in China. BTC-e China 3800. Mt. Gox 700 Still lol. Bitstamp 660... Need I say more. The Asians who are still in will always be in because they understand the fundamentals. Suckers sold, an have hopefully lost enough to gain some sense.