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

[aminorex]

Explanation

Like looking in a mirror O_o

whilst wearing 3-d glasses

[oda.krell]

I'm still hesitant. I don't really see how the bubble can un-pop in 5 days... that would be have to be some sort of record!

Don't worry. You're not the only one who feels that way :)

[Threebits]

However, the pboc has right to forbid his currency, rmb yen to link with bitcoin. This what they are doing.

They are doing links cut, not bitcoin ban. The deadline is for links cut, not for bitcoin ban. This is important to read, methinks.

This is another, more subtle falsehood.  It is perfectly legitimate, legal and feasible in china to purchase BTC with CNY.

Only banks are forbidden from doing this right?

That is correct.

Agree. What I say links cut is not quite right. People are legitimated to buy BTC with CNY, but not via banks. I would change the analogy as , one can have water, but can not have the glass, as the glass is mine.

[mmitech]

on the shadow of the latest PBOC released statement about not banning Bitcoin, There is someone who claims that he have some friends who are in the industry and work with a couple major Chinese Conglomerates, he stated They have all said (his friends) that the Chinese Government employees are loading up on BTC behind the scenes, and working on regulation, meanwhile others are dumping....

[dreamspark]

on the shadow of the latest PBOC released a statement about not banning Bitcoin, There is someone who claims that he have some friends who are in the industry and work with a couple major Chinese Conglomerates, he stated They have all said (his friends) that the Chinese Government employees are loading up on BTC behind the scenes, and working on regulation, meanwhile others are dumping....

Who is this someone ?

[mmitech]

on the shadow of the latest PBOC released a statement about not banning Bitcoin, There is someone who claims that he have some friends who are in the industry and work with a couple major Chinese Conglomerates, he stated They have all said (his friends) that the Chinese Government employees are loading up on BTC behind the scenes, and working on regulation, meanwhile others are dumping....

Who is this someone ?

a person ?

[ihaveaquestion]

on the shadow of the latest PBOC released a statement about not banning Bitcoin, There is someone who claims that he have some friends who are in the industry and work with a couple major Chinese Conglomerates, he stated They have all said (his friends) that the Chinese Government employees are loading up on BTC behind the scenes, and working on regulation, meanwhile others are dumping....

What do you mean by loading up?

[mmitech]

on the shadow of the latest PBOC released a statement about not banning Bitcoin, There is someone who claims that he have some friends who are in the industry and work with a couple major Chinese Conglomerates, he stated They have all said (his friends) that the Chinese Government employees are loading up on BTC behind the scenes, and working on regulation, meanwhile others are dumping....

What do you mean by loading up?

buying

[podyx]

^

lolol to the moon!

[mmitech]

here https://litecointalk.org/index.php?topic=17188.msg157943#msg157943

[hdbuck]

on the shadow of the latest PBOC released statement about not banning Bitcoin, There is someone who claims that he have some friends who are in the industry and work with a couple major Chinese Conglomerates, he stated They have all said (his friends) that the Chinese Government employees are loading up on BTC behind the scenes, and working on regulation, meanwhile others are dumping....

sooo obvious

[fonzie]

I can smell a train/huge spike? Someone else too?

[oda.krell]

However, the pboc has right to forbid his currency, rmb yen to link with bitcoin. This what they are doing.

They are doing links cut, not bitcoin ban. The deadline is for links cut, not for bitcoin ban. This is important to read, methinks.

This is another, more subtle falsehood.  It is perfectly legitimate, legal and feasible in china to purchase BTC with CNY.

They are cutting the (by volume) most /relevant/ links.

Happy now?

I agree that it is likely that the largest volume of CNY inflow to BTC in China was via bank transfer.
I do not know whether that is true today.  
I do not know whether it will be true again after the regulatory environment and business practices have stabilized.  
Indeed, not only do I not know, but the distribution is without informative priors.  
Moreover, anyone with the ability to estimate the latter on the basis of informative priors is an official of the PBoC or one of the big 4 SOE banks in China.
Whenever anyone has a view on this, who is not in such a position, the probability of the view being correct is essentially noise.
It is precisely this condition of ignorance which is used by bear trolls to inflame fearful sentiment.
That is the very essence of FUD.

You just made up an entirely meaningless definition of "FUD". Your list defines "bearish rumors", which are as likely (and justified) driving price down as "bullish rumors" are justified in driving it up.

'FUD proper' is the concerted effort by group of market participants to drive down price by a disinformation campaign (which did in fact take place, at least in this forum -- hard to say how much it mattered though).

If you really can't see the difference between what I describe above, and the (justifiable) concern that volume in Chinese exchanges will dry up and trading upon that concern, you've lost your empirically motivated view, and replaced it with one that is dictated by wishful thinking.

[JorgeStolfi]

What are the Canadian regulations that apply to the bitcoin trading services of Cavirtex and other Canadian exchanges (apart from common laws, such as fraud, property theft, money laundering, etc.)? (Serious question.)

They pretty much have to adhere to the same regulation as banks, if not more. They' got their MSB license as well.

Thanks! However, those regulations do not include insider trading or fractional BTC holding, correct? Banks do those things all the time, and the Canadian "Fed" surely does not regulate BTC holdings.  Insider trading laws are specific to stock and commodity markets.

When the market wants more tightly regulated exchange they'll occur we already have the Winklevoss and Silbert funds which are just beginning. NY or Texas will probably launch a North American exchange that will foster growth due to many people not investing because of the arguments you pointed out with regulation abroad and other uncertainties.

Great, we will see...

More so generally the financial markets that claim to have regulation have enough loop holes that we have already got lots of Ponzis from the likes of Madoff to Merriman, taking peoples "safer" Fiat currency.

The Euro bosses and Cypriot banks, IIRC, "stole" 6--10% from all bank accounts in Cyprus.  Neo & Bee's Danny Brewster then told Cypriots that his bitcoin-based bank would keep their money safe from further bank and government theft.  Eventually he disappeared, leaving behind many debts to contractors and staff, having spent all the 12,000 BTC he got from investors without any accounting or revenue, and after allegedly selling to two Cypriot citizens several thousand euros's worth of bitcoins that were not delivered.  Oh, and there are also allegations of insider trading of Neo & Bee shares on his own bitcoin-based securities trading platform, which of course was unregulated.

So much for bitcoin protecting us from greedy and unscrupulous bankers.

[podyx]

I can smell a train/huge spike? Someone else too?

[bitcoinsrus]

I can smell a train/huge spike? Someone else too?

[podyx]

What is obama cooking?

[magicmexican]

12-6-4-2hours macd look good, it could be a run to 3000 on huobi

[podyx]

I'm still expecting $500 coins this weekend or on monday, tuesday maybe

[hdbuck]

i fear this might be a bull trap.