delphic
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February 13, 2014, 04:58:32 PM |
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Obviously you are wrong, because according to you, 95% of November rally price is from China and it hasn't dropped to 5% of ATH yet, or is that what you are predicting? If I lived in China, I'd be a hodler. Moreso than now even. I can do international wire xfers. The Chinese can't. Bitcoin can be spent almost anywhere. The renmimbi can only be spent in China.
I will happily accept your RMB. LOL you're like that really smart kid in the front of the class who finds fault with the oversimplification of the idea I give to the slower learners. And you're right, our student doesn't really understand the definition of "zero-sum". Mining is a break-even proposition, which means half the mining makes a profit and the other half loses money. Bitcoins are produced, so there is a positive sum. 'Student'... LOL, I wish I was a student again.... but that was a very, very long time ago. Happy days.
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ChartBuddy
Legendary
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Activity: 2296
Merit: 1801
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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February 13, 2014, 05:03:06 PM |
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podyx
Legendary
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Activity: 2338
Merit: 1035
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February 13, 2014, 05:05:13 PM |
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Cheap coins everywhere, Christmas came early There's no such thing as a cheap coin. It is the current market price. Bitcoins have no intrinsic value, only a current market price. if you think the current price is low compared to what you think the price could/should be, remember that the 'low' price is 'low' because the market implicitly disagrees with you. What it will be worth in the future is conjecture. u must be very new here just a couple days ago there was a flash crash down to 530
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aminorex
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Activity: 1596
Merit: 1030
Sine secretum non libertas
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February 13, 2014, 05:05:55 PM |
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...assumption that the Chinese government understands all the implications of Bitcoin is questionable.
The Chinese government is incredibly conservative in outlook. Any potential for transformative change is threatening. They are institutionally very ill-equipped to deal with technical innovation with the potential to change relative power structures, and they are deeply, deeply antipathetic to such innovation. The inner circles of the CCP form a network of extremely wealthy families, which have co-opted the interests of their society in a superlative fashion. Defectors from their ranks will be required in order for bitcoin to get any sort of sanction. Historical materialism may motivate defections. It's ideology is pervasive in the CCP, and it forms a potent argument for the inevitability of socioeconomic transformation driven by technological change. I find it difficult to assess the importance of this motivation. Certainly it will only affect a very small minority of the power players, but if it affected a critical few, it would become an important factor in events.
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billyjoeallen
Legendary
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Activity: 1106
Merit: 1007
Hide your women
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February 13, 2014, 05:08:39 PM |
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One has to give Gox some credit actually. At least this time they are Goxxing everyone before the rally rather than during it.
What's funny is that the Gox announcement has a worse effect on the price than the DDOS attack, at least so far. We've had so much bad news, we are growing immune.
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fonzie
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February 13, 2014, 05:11:40 PM |
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lower lows on BTC-E - 616$ Choo choo, bullish as fuck to the mooon Gox going to break 450$ in the next hours to da moon you bulltards BillieJean are you still happy as fuck with your cheap 790$ coins All credit cards maxed out already?
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JorgeStolfi
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February 13, 2014, 05:12:36 PM |
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When the guy disburses his supply of Yuan to the other traders, that increases supply and devalues it (a little).
It only moves Yuan from a Chinese pocket to other Chinese pockets. The total amount of Yuan in China remains the same. Most Governments dislike their currency being exported because any foreign bank or government that gathers enough of it can manipulate their exchange rates, import/export balance, and inflation. Some governments try hard to limit export of their currency, others may just live with it, others may have other motives to encourage it.
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oda.krell
Legendary
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Activity: 1470
Merit: 1007
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February 13, 2014, 05:16:23 PM |
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Let's test those buyers' resolve on Bitstamp a bit. Just the tip, promised ^__^
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ShroomsKit
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February 13, 2014, 05:18:54 PM |
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Ok serious question. Why do people start to panic sell on Stamp when Gox prices go down?
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adamstgBit
Legendary
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Activity: 1904
Merit: 1037
Trusted Bitcoiner
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February 13, 2014, 05:19:38 PM |
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roslinpl
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Activity: 2212
Merit: 1199
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February 13, 2014, 05:20:47 PM |
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Bitcoin price is so unpredictible
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oda.krell
Legendary
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Activity: 1470
Merit: 1007
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February 13, 2014, 05:21:44 PM |
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Ok serious question. Why do people start to panic sell on Stamp when Gox prices go down?
Where do you see panic selling?
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ShroomsKit
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February 13, 2014, 05:24:02 PM |
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Ok serious question. Why do people start to panic sell on Stamp when Gox prices go down?
Where do you see panic selling? Not on a large scale but obviously people are quickly selling because Gox is going down. I call that panic. Why would people do that. Is there a reason i didn't think of or just pure stupidity?
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billyjoeallen
Legendary
Offline
Activity: 1106
Merit: 1007
Hide your women
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February 13, 2014, 05:25:41 PM |
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...assumption that the Chinese government understands all the implications of Bitcoin is questionable.
The Chinese government is incredibly conservative in outlook. Any potential for transformative change is threatening. They are institutionally very ill-equipped to deal with technical innovation with the potential to change relative power structures, and they are deeply, deeply antipathetic to such innovation. The inner circles of the CCP form a network of extremely wealthy families, which have co-opted the interests of their society in a superlative fashion. Defectors from their ranks will be required in order for bitcoin to get any sort of sanction. Historical materialism may motivate defections. It's ideology is pervasive in the CCP, and it forms a potent argument for the inevitability of socioeconomic transformation driven by technological change. I find it difficult to assess the importance of this motivation. Certainly it will only affect a very small minority of the power players, but if it affected a critical few, it would become an important factor in events. Yes, power structures will be disrupted. It won't be easy. It won't be pretty, and it won't be overnight, but it is inevitable. The only way to avoid that is for the elite to adopt the technology first, but they are too conservative to do that.
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oda.krell
Legendary
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Activity: 1470
Merit: 1007
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February 13, 2014, 05:27:27 PM |
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Ok serious question. Why do people start to panic sell on Stamp when Gox prices go down?
Where do you see panic selling? Not on a large scale but obviously people are quickly selling because Gox is going down. I call that panic. Why would people do that. Is there a reason i didn't think of or just pure stupidity? You sound kind of judgmental about that... it's just the market, relax. Remember how Bitstamp, the old bear, kept pulling the rest down when gox was trying a rally? So, now it's the other way around. I don't see sub-500 coins on gox and plus-600 coins on stamp as a stable situation. And right now, it's more likely to resolve downwards then upwards IMO.
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fonzie
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February 13, 2014, 05:27:29 PM |
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Ok serious question. Why do people start to panic sell on Stamp when Gox prices go down?
Huobi bots track Gox -> Huobi users follow the local bots -> Stamp users follow Huobi.
Chain reaction. BITCOIN IS DOOMED AND EVERYONE WITH HALF A BRAIN IS AWARE OF THAT AND TRYIN TO GET OUT ASAP! FTFY
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adamstgBit
Legendary
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Activity: 1904
Merit: 1037
Trusted Bitcoiner
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February 13, 2014, 05:28:52 PM |
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Ok serious question. Why do people start to panic sell on Stamp when Gox prices go down?
Where do you see panic selling? Not on a large scale but obviously people are quickly selling because Gox is going down. I call that panic. Why would people do that. Is there a reason i didn't think of or just pure stupidity? price is dropping, not rising, thats pretty clear, so... poeple are scared!
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ShroomsKit
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February 13, 2014, 05:29:51 PM |
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Ok serious question. Why do people start to panic sell on Stamp when Gox prices go down?
Where do you see panic selling? Not on a large scale but obviously people are quickly selling because Gox is going down. I call that panic. Why would people do that. Is there a reason i didn't think of or just pure stupidity? You sound kind of judgmental about that... it's just the market, relax. Remember how Bitstamp, the old bear, kept pulling the rest down when gox was trying a rally? So, now it's the other way around. I don't see sub-500 coins on gox and plus-600 coins on stamp as a stable situation. And right now, it's more likely to resolve downwards then upwards IMO. I understand how it normally would react to eachother but as far as i know Gox prices aren't relevant anymore. It's a non functioning exchange. Why would someone trading on Stamp even pay attention to gox anymore.
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fonzie
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February 13, 2014, 05:31:15 PM |
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@ShroomsKit It´s ovious that the owner of Sheepmarketplace is loadin off some of his stolen 100000 BTC. He hasn´t really started to dump until now. Watch out for more sheep action(you bulltard)
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ShroomsKit
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February 13, 2014, 05:31:25 PM |
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Ok serious question. Why do people start to panic sell on Stamp when Gox prices go down?
Huobi bots track Gox -> Huobi users follow the local bots -> Stamp users/bots follow Huobi. Chain reaction. Hm ok.
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