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

[slapper]

 This is some intense drug. How can people concentrate at work with all the drama going on past few days? It is just surreal. I am watching from a distance as I don't have chips in play here, but man I feel for everyone involved.

[fonzie]

Huobis says: "Huobi has checked with their third party payment service providers and banks and was informed that no instruction from PBOC had been received."

Other exchanges say that they already have received the information that banks will no longer work with them....

China
Huobi

[dreamspark]

Guys, nobody would be happier if I am wrong than I would be. It's extremely likely we'll either go sideways for a long time or down. If we go down, $400 support will be tested and may or may not hold. 3600 coins mined per day on top of Chinese arbitragers constantly buying on Huobi, and selling on Stamp. There's simply too much liquidity to soak up without a strategic retreat in price.

It's a great time to buy if you don't mind waiting months or years to see a significant profit, but a rocket ride up past $500 before April 15 is delusional, unless there's possibly a spike that immediately crashes back down. Bitfinex walls keep moving, but the Bitstamp wall is staying solid and immovable at $400.

I know opinions change and this isn't a low blow particularly but you really must be taking your forced liquidation badly. Two days ago it was choo choo and now your saying that anyone buying coins here would have to wait years for a profit.

What's changed in a day or so?

I wasn't force liquidated although I might have been close by now if I had held. I saved thousands by wimping out at $478. Cutting your losses when the market turns against you is an essential part of trading. Just reading this forum, it is obvious that all of the weak hands have not been shaken out.

Okay fair enough I read it that you were forced liquidated. Well yeah obviously that's a good trade then but that still doesn't explain what you feel has changed in the last two days from being bullish to now super besrish . I'm just interested not calling you out . I don't think the forum sentiment has changed in the last two days...

[hdbuck]

it cant be bullish as we just experienced a new bottom @416 (on stamp). each time we dip it goes lower.. and lower... and each run up is weaker than the previous one. plus it normally "flash" crashes before going up back to where it was before although now it just stays low... smells bad indeed.

[thefunkybits]

Key points of Huobi's announcement:

1. Huobi has checked with their third party payment service providers and banks and was informed that no instruction from PBOC had been received.
2. Huobi will stop all third party payment services on 05-04-2014.
3. Huobi will ramp up its manpower to 7*24 on internet fund transfer. All bank deposits and withdrawals are not affected.

really?

china ban doesn't affect Huobi??

I really hope this doesn't come down on us in another month or two....

[Nicholas-Carraway]

Finally, the coin of fire NET declares:
" Users want platform for short message is bad, once good will usher in scolding the sound or vice versa. "

Didn't that make you smile, even just a little?

[adamstgBit]

Key points of Huobi's announcement:

1. Huobi has checked with their third party payment service providers and banks and was informed that no instruction from PBOC had been received.
2. Huobi will stop all third party payment services on 05-04-2014.
3. Huobi will ramp up its manpower to 7*24 on internet fund transfer. All bank deposits and withdrawals are not affected.

really?

china ban doesn't affect Huobi??

I really hope this doesn't come down on us in another month or two....

thats what kinda pisses me off

china has been banning bitcoin for months now, can we just get over it already....

[mooncake]

Key points of Huobi's announcement:

1. Huobi has checked with their third party payment service providers and banks and was informed that no instruction from PBOC had been received.
2. Huobi will stop all third party payment services on 05-04-2014.
3. Huobi will ramp up its manpower to 7*24 on internet fund transfer. All bank deposits and withdrawals are not affected.

really?

china ban doesn't affect Huobi??

China ban? Source? Caixin? If you trust Caixin, then yes. Huobi says they and their financial partners have not received the news from PBOC yet.

[mooncake]

Key points of Huobi's announcement:

1. Huobi has checked with their third party payment service providers and banks and was informed that no instruction from PBOC had been received.
2. Huobi will stop all third party payment services on 05-04-2014.
3. Huobi will ramp up its manpower to 7*24 on internet fund transfer. All bank deposits and withdrawals are not affected.

I'm still trying to get my head around the China thing. A while ago Stamp/UK banned deposits via Transferwise and other third parties for AML reasons. It was a pain in the butt as it made things more expensive and awkward, but you could still use a regular bank account.
Is this roughly the same deal (at least for now)?

It is different.

[fonzie]

Key points of Huobi's announcement:

1. Huobi has checked with their third party payment service providers and banks and was informed that no instruction from PBOC had been received.
2. Huobi will stop all third party payment services on 05-04-2014.
3. Huobi will ramp up its manpower to 7*24 on internet fund transfer. All bank deposits and withdrawals are not affected.

really?

china ban doesn't affect Huobi??

China ban? Source? Caixin? If you trust Caixin, then yes. Huobi says they and their financial partners have not received the news from PBOC yet.

"The new announcements are the latest indication that China’s central bank, the People’s Bank of China (PBOC), may be following through on its decision to more actively enforce prior rulings related to how domestic financial service providers can interact with the bitcoin exchanges.

For example, while OKCoin was contacted by its third-party processor, FXBTC has been contacted by commercial banking providers."

http://www.coindesk.com/chinese-bitcoin-exchanges-okcoin-fxbtc-report-new-deposit-freezes/

[FlyingLotus]

How about this - Huobi = People's Bitcoin Bank of China ?

Socialism at work gentlemen

 

[mooncake]

Key points of Huobi's announcement:

1. Huobi has checked with their third party payment service providers and banks and was informed that no instruction from PBOC had been received.
2. Huobi will stop all third party payment services on 05-04-2014.
3. Huobi will ramp up its manpower to 7*24 on internet fund transfer. All bank deposits and withdrawals are not affected.

really?

china ban doesn't affect Huobi??

China ban? Source? Caixin? If you trust Caixin, then yes. Huobi says they and their financial partners have not received the news from PBOC yet.

"The new announcements are the latest indication that China’s central bank, the People’s Bank of China (PBOC), may be following through on its decision to more actively enforce prior rulings related to how domestic financial service providers can interact with the bitcoin exchanges.

For example, while OKCoin was contacted by its third-party processor, FXBTC has been contacted by commercial banking providers."

http://www.coindesk.com/chinese-bitcoin-exchanges-okcoin-fxbtc-report-new-deposit-freezes/

[fonzie]

What do you wan´t more? Mao zedong coming back from the dead and doin a speech on CNN?

[billyjoeallen]

Guys, nobody would be happier if I am wrong than I would be. It's extremely likely we'll either go sideways for a long time or down. If we go down, $400 support will be tested and may or may not hold. 3600 coins mined per day on top of Chinese arbitragers constantly buying on Huobi, and selling on Stamp. There's simply too much liquidity to soak up without a strategic retreat in price.

It's a great time to buy if you don't mind waiting months or years to see a significant profit, but a rocket ride up past $500 before April 15 is delusional, unless there's possibly a spike that immediately crashes back down. Bitfinex walls keep moving, but the Bitstamp wall is staying solid and immovable at $400.

I know opinions change and this isn't a low blow particularly but you really must be taking your forced liquidation badly. Two days ago it was choo choo and now your saying that anyone buying coins here would have to wait years for a profit.

What's changed in a day or so?

I wasn't force liquidated although I might have been close by now if I had held. I saved thousands by wimping out at $478. Cutting your losses when the market turns against you is an essential part of trading. Just reading this forum, it is obvious that all of the weak hands have not been shaken out.

Okay fair enough I read it that you were forced liquidated. Well yeah obviously that's a good trade then but that still doesn't explain what you feel has changed in the last two days from being bullish to now super besrish . I'm just interested not calling you out . I don't think the forum sentiment has changed in the last two days...

That's my whole point. Nothing's changed but me. The down trend is still in effect. I wouldn't even call myself super-bearish. I still hold out hope that $400 will hold. TERA makes infinitely more profit than me and she thinks I'm a starry-eyed optimist.

[p0peji]

With Chinese news you always have to read between the lines.

[adamstgBit]

Key points of Huobi's announcement:

1. Huobi has checked with their third party payment service providers and banks and was informed that no instruction from PBOC had been received.
2. Huobi will stop all third party payment services on 05-04-2014.
3. Huobi will ramp up its manpower to 7*24 on internet fund transfer. All bank deposits and withdrawals are not affected.

really?

china ban doesn't affect Huobi??

China ban? Source? Caixin? If you trust Caixin, then yes. Huobi says they and their financial partners have not received the news from PBOC yet.

"The new announcements are the latest indication that China’s central bank, the People’s Bank of China (PBOC), may be following through on its decision to more actively enforce prior rulings related to how domestic financial service providers can interact with the bitcoin exchanges.

For example, while OKCoin was contacted by its third-party processor, FXBTC has been contacted by commercial banking providers."

http://www.coindesk.com/chinese-bitcoin-exchanges-okcoin-fxbtc-report-new-deposit-freezes/

ya we all know that

so why is Huobi not saying the same thing?

How about this - Huobi = People's Bitcoin Bank of China ?

Socialism at work gentlemen

 

not a half bad theory  

With Chinese news you always have to read between the lines.

China is the FUD generator

[thefunkybits]

thats what kinda pisses me off

china has been banning bitcoin for months now, can we just get over it already....

Lets hope that western exchanges decouple from china and take the lead before (if) this becomes an issue

[Cassius]

Key points of Huobi's announcement:

1. Huobi has checked with their third party payment service providers and banks and was informed that no instruction from PBOC had been received.
2. Huobi will stop all third party payment services on 05-04-2014.
3. Huobi will ramp up its manpower to 7*24 on internet fund transfer. All bank deposits and withdrawals are not affected.

I'm still trying to get my head around the China thing. A while ago Stamp/UK banned deposits via Transferwise and other third parties for AML reasons. It was a pain in the butt as it made things more expensive and awkward, but you could still use a regular bank account.
Is this roughly the same deal (at least for now)?

It is different.

Thanks, that is about as enlightening as a PBOC statement.

[darklight]

Contrary to what people on this forum seem to believe, the world doesn't revolve around them and their Bitcoins. To the banks this will just be another account they need to close, and each bank will have a different process and timescales. They aren't going to accelerate this because OMG Bitcoin. Just because some exchanges haven't had any news yet, doesn't mean they aren't going to. The news is still only a few days old, and banks are not normally known for their ability to do things quickly

[TERA]

thats what kinda pisses me off

china has been banning bitcoin for months now, can we just get over it already....

Lets hope that western exchanges decouple from china and take the lead before (if) this becomes an issue

Where are these "western" exchanges?