Chalkbot
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April 01, 2014, 08:55:42 PM |
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"I don't know if you noticed, but I almost knocked him out just then." lol
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surfer43
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April 01, 2014, 09:02:55 PM |
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Heavy buy support, low sell support... ![Cool](https://bitcointalk.org/Smileys/default/cool.gif) 460 has 2.2K buy support. 500 less than 1K
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EuroTrash
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April 01, 2014, 09:04:13 PM |
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Am I seeing a daily green candle with higher high, higher low and more volume than yesterday? I know that one alone is not enough to say we're out of muddy waters, but hey! That bottle of champagne wine has been sitting in the fridge for too long, so fuck this I'm gonna open it anyway.
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adamstgBit
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April 01, 2014, 09:07:51 PM |
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Great news everyone! Bitcoin NOT banned in China! BREAKING NEWS: Bobby Lee Confirms Bitcoin China Ban hmmm.... interesting.
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chessnut
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April 01, 2014, 09:12:33 PM |
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Great news everyone! Bitcoin NOT banned in China! BREAKING NEWS: Bobby Lee Confirms Bitcoin China Ban hmmm.... interesting. only one thing for certain - the price is rising
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BitChick
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April 01, 2014, 09:15:04 PM |
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I should apply. This is a programming job even I could handle.
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roslinpl
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April 01, 2014, 09:17:32 PM |
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Yes this is not bad! I hope this price is a result of Bitcoin power! ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) As I see it wont come >400$ ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) and I am very happy with that.
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JorgeStolfi
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April 01, 2014, 09:18:49 PM |
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Trying to summarize the situation again: * A Caixin reporter claimed last week that he saw a PBoC document, to be sent to banks and third-party payment processors, prohibiting them to pass CNY deposits to the exchanges immediately (through corporate or personal accounts), and setting a deadline of april 15 for them to stop processing withdrawals too. * The Chinese exchange Bter warned their clients that their payment processor stopped all deposits to them. So that part of the Caixin claim, at least, was true. * As for the bank part of the Caixin claim, so far there is only ONE source for that claim. namely that Caixin reporter. * Bter did not use banks, and other exchanges have not reported any blocking of deposits yet. * On the other hand, the PBoC has not denied that claim yet, five days after it was leaked. * The exchange CEOs commented the matter at first, but have been silent since then. I do not know what to think, and apparently the Market is confused too. If the bank blockade order is real, perhaps the exchange CEOs are lobbying the PBoC to reverse or soften it --- hence their silence? I recall reading somewhere that workers in China get paid at the end of the month; is that so? Perhaps the exchanges' corporate bank accounts were kept open until now so that they can pay their staff? Another (very unlikely) possibility is that the banks understood the order to mean that they can accept the client deposits into the exchanges' accounts, but cannot allow the exchanges to withdraw money from those accounts? (In that case the exchanges could still function normally, by leaving all the deposited money in that account and executing client CNY withdrawls from it, until April 15; except that they could not collect the deposit/withdrawal fees.) What is the mechanics of depositing CNY on the Chinese exchanges through the banks? Would the exchanges notice immediately if the deposits are blocked? If the exchanges have other sources of revenue, or investor funds in the bank, would they be blocked too? How would the banks know which money is which? ![Huh](https://bitcointalk.org/Smileys/default/huh.gif)
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JayJuanGee
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Self-Custody is a right. Say no to"Non-custodial"
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April 01, 2014, 09:20:00 PM |
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When Mt Gox was dying, the market slid for months. When they stopped accepting deposits (for the last time), the market crashed to $400 and immediately rebounded to $710. The slide from $710 to $436 was because the eventual banning of BTC exchanges was being priced in. There was some confirmation of this with two small exchanges that took us from $486 back down to $440.
Markets hate uncertainty more than they hate bad news. Bad news can be priced in. Uncertainty by it's very nature cannot. What is certain is that when and if a final confirmation from the PBoC comes out or Chinese exchanges stop accepting deposits, the China Syndrome will be behind us and other factors will dominate price action.
The time to buy is when things are at their worst, when things can't get any worse. The irony is that Wall Street money will likely not come in until after we sell. If we never sell, it could take them months, years or eternity. Wall street doesn't want to share our success. They want to take our success from us. They're not angels. They are vultures. The only way to keep them out is to bootstrap another rally without them, have them buy in and we slowly and methodically take profits on the way up. It would require a level of support at least twice as high as what's on our current order books.
The two external possibilities that can save us are an official denial by the PBoC of an imminent bitcoin ban or a influx of billionaire whale money. Both are very possible but unlikely. As a community, the way we can save ourselves is for The Bottom to be defended on very high volume. Next dip below $550, buy like crazy and don't sell till you see $100 profit. That dip will come unless a whale intervenes. There will be no organic rally without another defense of the bottom.
Disclosure: I'm not talking my book here. I'm trapped in a leveraged long position and resigned to either sell at a profit or get wiped out in a margin call. I got screwed because I thought the PBoC would either confirm or deny the rumor by now. They claim to be concerned for the welfare of speculators and consumers and then keep us in the dark. I guess that's what we should expect from banksters.
Your attempt at concerted action is like herding cats..... I admire it, but really, I doubt you are gonna get people to engage in some mass buying campaign... b/c each of us is in a different position.. and maybe we do NOT have enough capital to buy, buy, buy.... I know the other strategy is to hodl and don't play the selling game..,..,. and that could cause prices to rise with smaller volume and cause a whale to come in that does NOT want to lose out on the upward momentum..... You are correct about the intense bitterness that wallstreet likely has in regard to bitcoin investors and they are likely very reluctant to empower the "undeserving" early bitcoin adopters to make any high level(s) of profit.
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seleme
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April 01, 2014, 09:22:59 PM |
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Can't wait for April 2nd, no way to believe any news today ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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JayJuanGee
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Self-Custody is a right. Say no to"Non-custodial"
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April 01, 2014, 09:23:35 PM |
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So considering all that’s going on, when do you think is a good time to put in a large purchase at coin base?
not now, china is about to ban bitcoin for the 3rd time, its not getting old. nope! This is the kind of news that people love... over and over and over... nice solid "news"
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surfer43
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April 01, 2014, 09:25:30 PM |
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Can't wait for April 2nd, no way to believe any news today ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) hmm.. think other speculators are thinking the same way? ... ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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edwardspitz
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April 01, 2014, 09:27:08 PM |
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"I don't know if you noticed, but I almost knocked him out just then." lol Ha ha! Reminds me of Walter from The Big Lebowski: https://www.youtube.com/watch?v=WiQmQhA-OrM Must be a 1st April joke, otherwise I think they would have stopped filming :-)
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JayJuanGee
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April 01, 2014, 09:27:47 PM |
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China likely won't criminalize ownership for a long time, if ever. What they can do is make it difficult for the Chinese people to buy bitcoins. As the current price is not a function of current utility, but a discounted expectation of future price, this could lead to a drop in price. The knowledge of less money flowing into bitcoinisphere from the Middle Kingdom is a downward pressure on price.
If I had billions, I would be pouring it into Bitcoin now, but I don't. If I had millions, I would be building walls around support at $400 to $450 (but I don't).
The utility of Bitcoin is still increasing rapidly. The system is anti-fragile and will survive and grow, but it will not be overnight and bitcoin profit will be earned- not given to you.
That's where the luck comes in, NO? Sometimes, if you are in the right place at the right time, viola!!!! Don't really know when and where that is gonna be... but with bitcoin, the rocket, bullet, train, is likely coming soon.. but based on some of the recent distractions and negative press may have been delayed by a month or two.
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minerpumpkin
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April 01, 2014, 09:29:36 PM |
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OK, so how did the Chinese read the Coindesk article? Source: Coindesk article ( http://www.coindesk.com/ceo-bitcoin-officially-bans-china/), translated to Chinese and back to English by Google Translate: CEO of China official ban Bitcoin
Following China 's plans to ban bank transfer rumors to Bitcoin exchange , CEO bitcoin ™ has decided to ban Chinese .
The decision was adopted unanimously by the shareholders of Bitcoin , about Bitcoin Board , HaCkerz4BITZ and Bitcoin 's steering committee.
April 8 , Bitcoin and from the glory of the People's Republic of China will no longer be supported by the Bitcoin network ™ . The decision will not affect China 's Republic of China ( Taiwan ) - unless it is aggression simultaneously. It is unclear whether it will apply to Hong Kong , which is a little part of China, but in reality it is not - you know what?
Preemptive ruling People's Bank of China
The decision was announced by the bitcoin am CEO Warren Winkleberg ™ by reddit (Tuesday ) . It is composed of the following members of the Bitcoin community , China 's exchanges and Dorian S in the own extensive discussion.
Although there are some dissenting voices, they were drowned in a lengthy discussion , thanks to Godwin 's law - and therefore decisions are consistent.
As a result , Bitcoin company ™ decision to China 's official People's Bank of China (PBOC) notice is expected to effectively prohibit banks from doing business Bitcoin exchanges in China, which happens to be the first to be announced fully -owned subsidiary of Bitcoin the company ™
Warren Winkleberg said:
"Given China's imminent decision to ban Bitcoin exchanges, we have no choice but to completely ban China , we know that this decision will affect the long-term price of Bitcoin and proliferation , but frankly , we have no choice . "
"We have to act in the best interests of our shareholders and global bitcoin ™ investors , " he added .
Reaction , rebound, anti- backlash reaction
Internet ™ 's KalEl Al - Al Gore 's chief executive officer told CoinDesk, although this decision is controversial, in the grand scheme of things , this will help in the Bitcoin community as a whole and the Internet ™ . He added:
" China 's Great Firewall has hindered the development , erode our profits over the years here, in the internet ™, we know that certain circles , restrictive policies advocated by the Chinese government may adopt a new growth and the devastating impact of technology and I should know, I invented the Internet ™. "
"In addition, carbon dioxide emissions caused by the firewall is caused by China 's air quality problems , they have become a public health issue and we all need to reduce our carbon footprint ."
Dogecoin ™ CEO , Chairman Shibah iNews said:
Duke Mr. interactive news station modeled Mensweardog In addition, bitcoin miners Socialist Union warned that the decision would not do much to help China 's Bitcoin miners, who are often forced to difficulties in the absence of union protection under the harsh conditions of instability bitcoin mining work.
ILO report , more than a dozen canaries ( keeping their " Bitcoin " yellow tint ) bitcoin mining in China died last year .
"The children were forced to mine block to the main block chain , but the difficulty is astronomical - and these kids do not even make the transaction costs they're digging , " the investigator told the premier news source Bitcoin 's Coinion last December .
Even Apple has asked the authorities to investigate thoroughly .
"It's worse than Foxconn , we do not believe this is whatever , but it was," Apple CEO Tim Cook tweeted response. " It's almost inhuman to read the terms of iTunes service ."
Wild price fluctuations
The move is expected to result in greater volatility on the currency market has been a bit turbulent . Many Chinese investors and exchanges, is expected to start dumping their bitcoins held in the coming week . This could trigger a chain reaction , causing many investors to the former price of tanks, please uninstall your wallet .
Bit o coin prices fell | create infographics
However, it is seen as speculators and even some government a chance. Ukraine rumored to be planning to acquire up to $ 1 billion worth of bitcoins , it plans to use it to repay its $ 1.6 billion natural gas bill and angered Russia in this process .
Russian President Vladimir Putin did not leave a deep impression.
. " I bought into bitcoin $ 14 and $ 800 to sell all my prince, " he said, adding : "Under the leadership of Vladimir Putin , Russia 's Bitcoin exchange you."
Analysts expect prices bottoming out later this month , but it does when we come to spend a few weeks in negative territory , literally .
This is not all bad news. Speculators can expect if they pounce at the right moment huge returns. In related news , the mountain. GOX is widely expected to miraculously "discovered" hundreds of thousands of Bitcoin once, they are worth very little .
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chessnut
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April 01, 2014, 09:31:55 PM |
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Am I seeing a daily green candle with higher high, higher low and more volume than yesterday? I know that one alone is not enough to say we're out of muddy waters, but hey! That bottle of champagne wine has been sitting in the fridge for too long, so fuck this I'm gonna open it anyway.
Thats the spirit! this was the plan all along, never mind the fud.
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