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

[nanobrain]

you can still send your fiat instantly with no fees to the exchange and buy bitcoins, same thing other way around, in china, am i correct?

Well, I just checked my BTChina account because there would be some lovely arb opportunities if you could get fiat on there from overseas but it looks very much like the only options are via banks in mainland China.  I asked them last month about HK banks and they said no.  So, getting funds in from o/s looks difficult.

Where's Bitpirate?  I'd be interested in his take on things and how its impacted on rmbtb.com

[smashing]

I wonder when this story will be picked up more in the English press than it has so far (no Techcrunch yet - which will pull in the mainstream media). I guess if/when BTC releases something official on their website.

In the meantime...
http://technode.com/2013/12/17/alipay-and-tenpay-terminate-payment-and-clearing-services-for-bitcoin

[mmitech]

I have a strong feeling that we will be all up after few hours....

[seleme]

This is important thing. Many people here are talking about third party payment processors being banned but articles usually list banks there too. If banks are too banned, then it's game over for China (farewell boys):

The PBOC met with around ten top Chinese third-party payment providers yesterday, banning banks and third-party payment firms from providing settlement and clearance services for transactions based on virtual currencies, like Bitcoin and Litecoin, as well as other peer-to-peer currency trading sites.

[gandhibt]

you can still send your fiat instantly with no fees to the exchange and buy bitcoins, same thing other way around, in china, am i correct?

Well, I just checked my BTChina account because there would be some lovely arb opportunities if you could get fiat on there from overseas but it looks very much like the only options are via banks in mainland China.  I asked them last month about HK banks and they said no.  So, getting funds in from o/s looks difficult.

Where's Bitpirate?  I'd be interested in his take on things and how its impacted on rmbtb.com

i meant that chinese people in china can still speculate the shit out from bitcoin and that is what has been helped a lot in this recent rise from $125

[Dragonkiller]

honestly i can see china trying to control the flow of bitcoins soon as well. they are trying to control the fiat going in and out of the exchange, but if the btc can be transferred out easily that reduces the effectiveness of their policy.

or am i missing something?

[optimi]

i meant that chinese people in china can still speculate the shit out from bitcoin and that is what has been helped a lot in this recent rise from $125

Just wondering: How many % of the chinese people are aware of bitcoin? How many hold them?

Is it still pretty much underground or full mainstream?

[gizmoh]

honestly i can see china trying to control the flow of bitcoins soon as well. they are trying to control the fiat going in and out of the exchange, but if the btc can be transferred out easily that reduces the effectiveness of their policy.

or am i missing something?

Authorities might now grasping the risk of btc to their currency control and leakage. They are gradually putting measures to squeeze cash flow to btc while letting investors out without causing sudden price crash.  Next step might be to prevent exchanges from using chinese banks.

[GreekGeek]

i meant that chinese people in china can still speculate the shit out from bitcoin and that is what has been helped a lot in this recent rise from $125

Just wondering: How many % of the chinese people are aware of bitcoin? How many hold them?

Is it still pretty much underground or full mainstream?

underground
http://stats.grok.se/zh/latest90/bitcoin

[gandhibt]

honestly i can see china trying to control the flow of bitcoins soon as well. they are trying to control the fiat going in and out of the exchange, but if the btc can be transferred out easily that reduces the effectiveness of their policy.

or am i missing something?

Authorities might now grasping the risk of btc to their currency control and leakage. They are gradually putting measures to squeeze cash flow to btc while letting investors out without causing sudden price crash.  Next step might be to prevent exchanges from using chinese banks.

chinese government has been positive about bitcoin to this day, there's no reason to believe that they wanted anything more than to take control of fiat which goes in/out, at least until proved otherwise

[Dragonkiller]

honestly i can see china trying to control the flow of bitcoins soon as well. they are trying to control the fiat going in and out of the exchange, but if the btc can be transferred out easily that reduces the effectiveness of their policy.

or am i missing something?

Authorities might now grasping the risk of btc to their currency control and leakage. They are gradually putting measures to squeeze cash flow to btc while letting investors out without causing sudden price crash.  Next step might be to prevent exchanges from using chinese banks.

chinese government has been positive about bitcoin to this day, there's no reason to believe that they wanted anything more than to take control of fiat which goes in/out, at least until proved otherwise

but don't they have a policy of only being able to take $50,000 per person per year out of the country? as far as i know, there are currently no limits to how much you can invest in bitcoin. what's stopping someone from buying $1m in bitcoins through btcchina using their chinese bank account then transferring to bitstamp and withdrawing $1m anywhere in the world?

[marcelus]

Is it not the case that most 3rd party payment providers in the US won't go near bitcoin exchanges with a barge pole? And if so, is the situation in China now not pretty similar?

[tutkarz]

we should let China drop to $1 then buy them back

[optimi]

i meant that chinese people in china can still speculate the shit out from bitcoin and that is what has been helped a lot in this recent rise from $125

Just wondering: How many % of the chinese people are aware of bitcoin? How many hold them?

Is it still pretty much underground or full mainstream?

underground
http://stats.grok.se/zh/latest90/bitcoin

Thanks.

[Voodah]

Hmmm... so how's it looking guys??

Where are we headed? Will I get my 650 again?

[gandhibt]

reversed head and shoulders in all 4 main exchanges

[ChartBuddy]

[electronistul]

reversed head and shoulders in all 4 main exchanges

Where are we headed right now ?

[gandhibt]

reversed head and shoulders in all 4 main exchanges

Where are we headed right now ?

idk, if 650 holds then maybe this was it but if not then we go lower

theres a lot of support at 650 i think it will hold for now

[seleme]

reversed head and shoulders in all 4 main exchanges

Where are we headed right now ?

idk, if 650 holds then maybe this was it but if not then we go lower

badass answer, have you smoked again?