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

[shmadz]

Greenland would be mostly underwater if the glaciers melted. It would be an archipelago.

uh oh, that's bad news.

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bitcoin banned - confirmed.

Confirmed by whom? Proof or didn't happen, and not that shitty chinese news site that spread the FUD last time.

Tarmi is a known troll, dont concern yourself. Could it be legit? Yeah. But hes just a FUD spreader.

But do they have any real independent source?

http://www.cryptocoinsnews.com/2014/03/27/pboc-orders-all-chinese-banks-third-party-payment-processors-shut-accounts-15-chinese-bitcoin-exchanges-april-15th/

even more bad news???

in times like these, when the charts are looking like waterfalls of blood, I like to listen to this song ...

https://www.youtube.com/watch?v=8bRDFgmFFGE    <- may this be love - jimi hendrix

[chessnut]

so if china "orders all bitcoin third party accounts to be closed" then the effect might be bitcoin withdrawals? if you dont want to mess around with fiat, just buy bitcoin and get out right?

[FTWbitcoinFTW]

But do they have any real independent source?

This is a bullshit website, they just copy any reddit post with 100pt or more

[chessnut]

looks to me like a big hidden order on BFX at 562.66

[donut]

Everyone panic.

http://www.cryptocoinsnews.com/2014/03/27/pboc-orders-all-chinese-banks-third-party-payment-processors-shut-accounts-15-chinese-bitcoin-exchanges-april-15th/

China Central Bank just ordered ALL banks and third party processors to close any account connected to an bitcoin exchange.

This is it.

[chessnut]

Just bought at the bottom (so called) wish me luck  

@562.66

[el_rlee]

Everyone panic.

http://www.cryptocoinsnews.com/2014/03/27/pboc-orders-all-chinese-banks-third-party-payment-processors-shut-accounts-15-chinese-bitcoin-exchanges-april-15th/

China Central Bank just ordered ALL banks and third party processors to close any account connected to an bitcoin exchange.

This is it.

It's almost lunchtime now in China, and no trace of real panic on the Chinese Exchanges. -10% is not panic in Bitcoin world, so people move on, there is nothing to see here.

[FTWbitcoinFTW]

It's almost lunchtime now in China, and no trace of real panic on the Chinese Exchanges. -10% is not panic in Bitcoin world, so people move on, there is nothing to see here.

This

If chinese trader would belive this shit, price will be lower than that.

[KeyserSoze]

It's almost lunchtime now in China, and no trace of real panic on the Chinese Exchanges. -10% is not panic in Bitcoin world, so people move on, there is nothing to see here.

The fat lady is backstage warming up.

[chessnut]

my moma always tought me to be greedy when chinese panic.

[chessnut]

 I believe she ate a whole live chiwawa and the opera has been cancelled.

[deadfi$h]

Here's a little reddit repost for you guys:

http://finance.jrj.com.cn/2014/03/27101116938690.shtml[1] In this report, the reporter claimed he called a person in charge of Huobi and BTCTrade CEO, both said they have received no notice from PBOC. Currently, they are doing business as usual.

[JorgeStolfi]

so if china "orders all bitcoin third party accounts to be closed" then the effect might be bitcoin withdrawals? if you dont want to mess around with fiat, just buy bitcoin and get out right?

Bitcoins would be useless to most Chinese, I believe,  They already cannot use them for anything except trading.

If the news is real, I guess that most clients of the Chinese exchanges will want to sell at any price they can and withdraw their money.

The only buyers in the Chinese exchanges would be arbitragers, or more generally people or partnerships with accounts on both Chinese and Western exchanges.  They can buy cheap bitcoins in China and sell them for somewhat higher price in the West.  That will depress the price in the West to some extent, while in China it will go to zero.

However, if the ban on depositing money is effective immediately, those arbitragers will be limited to their current CNY balances in the exchanges, so the price in China may go to zero very fast.  In any case, I suppose that all the bitcoins held by the exchanges will be sold in the West,  on the open market or off it.

The price on Huobi is holding at ~3400 now. Are they thinking that the ban may be a hoax?  Or is arbitrage propping up the price?  Or only 7% of the Huobi clients have seen the rumor?

[FTWbitcoinFTW]

Here's a little reddit repost for you guys:

http://finance.jrj.com.cn/2014/03/27101116938690.shtml[1] In this report, the reporter claimed he called a person in charge of Huobi and BTCTrade CEO, both said they have received no notice from PBOC. Currently, they are doing business as usual.

Tell me more about how exchange manager tell you always the true

[JorgeStolfi]

Is Leah now reporting from China? 

[BubbaGumpShrimpinBoatCapn]

Here's a little reddit repost for you guys:

http://finance.jrj.com.cn/2014/03/27101116938690.shtml[1] In this report, the reporter claimed he called a person in charge of Huobi and BTCTrade CEO, both said they have received no notice from PBOC. Currently, they are doing business as usual.

And we trust bitcoin exchange operators now because exactly why?

[Dalmar]

Here's a little reddit repost for you guys:

http://finance.jrj.com.cn/2014/03/27101116938690.shtml[1] In this report, the reporter claimed he called a person in charge of Huobi and BTCTrade CEO, both said they have received no notice from PBOC. Currently, they are doing business as usual.

Obviously they are going to milk the cash cow to the last drop.

[deadfi$h]

Here's a little reddit repost for you guys:

http://finance.jrj.com.cn/2014/03/27101116938690.shtml[1] In this report, the reporter claimed he called a person in charge of Huobi and BTCTrade CEO, both said they have received no notice from PBOC. Currently, they are doing business as usual.

And we trust bitcoin exchange operators now because exactly why?

Just trying to put a little anti-FUD into the mix. The Huobi price is far more telling.

So far we have:
sketchy website likely full of shit linking to something I can't read - 1
something in Chinese I can't read - 1
Huobi price not plummeting mid-day in China -  100

[fonzie]

Groundhog Day pt.5 6 7??

[Nicholas-Carraway]

http://arxiv.org/abs/1403.6676

Interesting read re mtgox malleability issue