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

[ChartBuddy]

Explanation

[p0peji]

Great, that stupid POS news killed all the great downward momentum, now it is back to playing the waiting game... 

[windjc]

Dec 5th statement agrees wind..I just dunno how the PBOC sucks at enforcing it so badly.

I mean for the Chinese they have digested the good and the bad.. but I would agree they expect more bad...we'll see how Mother's Day ends up

The chinese businessman in the other thread explains it very well. Basically the PBOC is too big to typical involve itself with something as small as bitcoin (which shows how threatened they are by it). For this reason, because the PBOC communicates with only the top level bank officials, the top level bank officials feel its beneath their pay grade to deal with and it gets passed down and eventually lost, because the people authorized with the responsibility don't want to do it - its embarrassing for them. It is in fact the exact opposite of what many bitcoin enthusiasts imagine - bitcoin is actually TOO SMALL for the banks to want to deal with closing all the accounts.

[TERA]

Dec 5th statement agrees wind..I just dunno how the PBOC sucks at enforcing it so badly.

I mean for the Chinese they have digested the good and the bad.. but I would agree they expect more bad...we'll see how Mother's Day ends up

The chinese businessman in the other thread explains it very well. Basically the PBOC is too big to typical involve itself with something as small as bitcoin (which shows how threatened they are by it). For this reason, because the PBOC communicates with only the top level bank officials, the top level bank officials feel its beneath their pay grade to deal with and it gets passed down and eventually lost, because the people authorized with the responsibility don't want to do it - its embarrassing for them. In it in fact the exact opposite of what many bitcoin enthusiasts imagine - bitcoin is actually TOO SMALL for the banks to want to deal with closing all the accounts.

Here's the article:

http://bitcoinblog.de/2014/04/28/chinese-banks-dont-know-how-to-act-appropriate-cause-bitcoin-is-too-tiny/

[billyjoeallen]

Great, that stupid POS news killed all the great downward momentum, now it is back to playing the waiting game... 

Kinda what I was thinking. The market's been high on Hopium for a damn month. No reason for it. Hangover's gonna be a bitch.

[windjc]

Great, that stupid POS news killed all the great downward momentum, now it is back to playing the waiting game... 

Kinda what I was thinking. The market's been high on Hopium for a damn month. No reason for it. Hangover's gonna be a bitch.

Hopium.

That's the ideal word for it.

The market reacts like its the worlds last bitcoin, everytime it has the slightest reason to.  Meanwhile, no new fiat is coming in and traders are just passing coins back and forth while money slowly leaves the exchanges.

[JayJuanGee]

Great, that stupid POS news killed all the great downward momentum, now it is back to playing the waiting game... 

Kinda what I was thinking. The market's been high on Hopium for a damn month. No reason for it. Hangover's gonna be a bitch.

Hopium.

That's the ideal word for it.

The market reacts like its the worlds last bitcoin, everytime it has the slightest reason to.  Meanwhile, no new fiat is coming in and traders are just passing coins back and forth while money slowly leaves the exchanges.

Hopium.  I concede that I have that affliction, too.

[Davyd05]

Dec 5th statement agrees wind..I just dunno how the PBOC sucks at enforcing it so badly.

I mean for the Chinese they have digested the good and the bad.. but I would agree they expect more bad...we'll see how Mother's Day ends up

The chinese businessman in the other thread explains it very well. Basically the PBOC is too big to typical involve itself with something as small as bitcoin (which shows how threatened they are by it). For this reason, because the PBOC communicates with only the top level bank officials, the top level bank officials feel its beneath their pay grade to deal with and it gets passed down and eventually lost, because the people authorized with the responsibility don't want to do it - its embarrassing for them. In it in fact the exact opposite of what many bitcoin enthusiasts imagine - bitcoin is actually TOO SMALL for the banks to want to deal with closing all the accounts.

Here's the article:

http://bitcoinblog.de/2014/04/28/chinese-banks-dont-know-how-to-act-appropriate-cause-bitcoin-is-too-tiny/

Probably clearer to a Chinese person what was defined on Dec 5th.. but that article with the two small argument sounds silly...there is easily enough here to blanket ban...

"Notice" requirement , at this stage , financial institutions and payment institutions are not allowed to Bitcoin price for the product or service , may not be sold or traded bitcoins as a central counterparty shall not be covered with bitcoin -related insurance business or insurance will be included bitcoin range not indirectly provide customers with bitcoins other services, including direct or : to provide customers with Bitcoin registration , trading, clearing and settlement services ; accepts bitcoins or bitcoins as payment and settlement tools ; carry with bitcoins RMB and foreign currency exchange services ; conduct Bitcoin storage , hosting, mortgages and other services ; issue with bitcoin -related financial products ; would bitcoins as trusts, investment funds and other investment targets .

no need for picking or choosing.. I think its highly likely we're just watching gov. manipulation happen with zero fucks given on being obvious or not.

[Searing]

Dec 5th statement agrees wind..I just dunno how the PBOC sucks at enforcing it so badly.

I mean for the Chinese they have digested the good and the bad.. but I would agree they expect more bad...we'll see how Mother's Day ends up

The chinese businessman in the other thread explains it very well. Basically the PBOC is too big to typical involve itself with something as small as bitcoin (which shows how threatened they are by it). For this reason, because the PBOC communicates with only the top level bank officials, the top level bank officials feel its beneath their pay grade to deal with and it gets passed down and eventually lost, because the people authorized with the responsibility don't want to do it - its embarrassing for them. In it in fact the exact opposite of what many bitcoin enthusiasts imagine - bitcoin is actually TOO SMALL for the banks to want to deal with closing all the accounts.

Here's the article:

http://bitcoinblog.de/2014/04/28/chinese-banks-dont-know-how-to-act-appropriate-cause-bitcoin-is-too-tiny/

Probably clearer to a Chinese person what was defined on Dec 5th.. but that article with the two small argument sounds silly...there is easily enough here to blanket ban...

"Notice" requirement , at this stage , financial institutions and payment institutions are not allowed to Bitcoin price for the product or service , may not be sold or traded bitcoins as a central counterparty shall not be covered with bitcoin -related insurance business or insurance will be included bitcoin range not indirectly provide customers with bitcoins other services, including direct or : to provide customers with Bitcoin registration , trading, clearing and settlement services ; accepts bitcoins or bitcoins as payment and settlement tools ; carry with bitcoins RMB and foreign currency exchange services ; conduct Bitcoin storage , hosting, mortgages and other services ; issue with bitcoin -related financial products ; would bitcoins as trusts, investment funds and other investment targets .

no need for picking or choosing.. I think its highly likely we're just watching gov. manipulation happen with zero fucks given on being obvious or not.

I'm unclear does all this apply to bitcoin manufacturer's? ....in other words you have a company that 'builds' asic devices for sale ....does this also effect them?

[Davyd05]

Dec 5th statement agrees wind..I just dunno how the PBOC sucks at enforcing it so badly.

I mean for the Chinese they have digested the good and the bad.. but I would agree they expect more bad...we'll see how Mother's Day ends up

The chinese businessman in the other thread explains it very well. Basically the PBOC is too big to typical involve itself with something as small as bitcoin (which shows how threatened they are by it). For this reason, because the PBOC communicates with only the top level bank officials, the top level bank officials feel its beneath their pay grade to deal with and it gets passed down and eventually lost, because the people authorized with the responsibility don't want to do it - its embarrassing for them. In it in fact the exact opposite of what many bitcoin enthusiasts imagine - bitcoin is actually TOO SMALL for the banks to want to deal with closing all the accounts.

Here's the article:

http://bitcoinblog.de/2014/04/28/chinese-banks-dont-know-how-to-act-appropriate-cause-bitcoin-is-too-tiny/

Probably clearer to a Chinese person what was defined on Dec 5th.. but that article with the two small argument sounds silly...there is easily enough here to blanket ban...

"Notice" requirement , at this stage , financial institutions and payment institutions are not allowed to Bitcoin price for the product or service , may not be sold or traded bitcoins as a central counterparty shall not be covered with bitcoin -related insurance business or insurance will be included bitcoin range not indirectly provide customers with bitcoins other services, including direct or : to provide customers with Bitcoin registration , trading, clearing and settlement services ; accepts bitcoins or bitcoins as payment and settlement tools ; carry with bitcoins RMB and foreign currency exchange services ; conduct Bitcoin storage , hosting, mortgages and other services ; issue with bitcoin -related financial products ; would bitcoins as trusts, investment funds and other investment targets .

no need for picking or choosing.. I think its highly likely we're just watching gov. manipulation happen with zero fucks given on being obvious or not.

I'm unclear does all this apply to bitcoin manufacturer's? ....in other words you have a company that 'builds' asic devices for sale ....does this also effect them?

pretty sure as ..they pretty much couldn't sell them via alipay and or alibaba is it? yeah and http://www.reuters.com/article/2014/01/08/us-china-bitcoin-idUSBREA070F620140108
I mean.. perhaps they're just sadistic and are killing bitcoin of like young kids might kill insects... one appendage at a time

I will admit I do say fuck you to my sleeping schedule whenever China starts banning and the traders start the p&ds .. and I'm not even long or short.. lol

[magicmexican]

haha just woke up, and it bounced from 2550, what a shocker

[chessnut]

Looks like all shorts on Huobi will have to be closed, sooner or later.

May the back stabbing begin!

[p0peji]

Looks like all shorts on Huobi will have to be closed, sooner or later.

May the back stabbing begin!

Why would only the shorts have to be closed?

[ChartBuddy]

Explanation

[chessnut]

Looks like all shorts on Huobi will have to be closed, sooner or later.

May the back stabbing begin!

Why would only the shorts have to be closed?

In the statement, Leverage trading will cease. shorts will be closed on the 10th if not before.

"Close currency financing financial services implementing rules 1,5 month beginning at 0:00 on the 10th , the fire will stop currency net new financing financing currency after currency to pay off all of the facility or stopping leveraged finance transactions."

[p0peji]

Looks like all shorts on Huobi will have to be closed, sooner or later.

May the back stabbing begin!

Why would only the shorts have to be closed?

In the statement, Leverage trading will cease. shorts will be closed on the 10th if not before.

"Close currency financing financial services implementing rules 1,5 month beginning at 0:00 on the 10th , the fire will stop currency net new financing financing currency after currency to pay off all of the facility or stopping leveraged finance transactions."

And there is no such thing as a leveraged long?

[chessnut]

Looks like all shorts on Huobi will have to be closed, sooner or later.

May the back stabbing begin!

Why would only the shorts have to be closed?

In the statement, Leverage trading will cease. shorts will be closed on the 10th if not before.

"Close currency financing financial services implementing rules 1,5 month beginning at 0:00 on the 10th , the fire will stop currency net new financing financing currency after currency to pay off all of the facility or stopping leveraged finance transactions."

And there is no such thing as a leveraged long?

No it's a real thing they do exist.

[p0peji]

Looks like all shorts on Huobi will have to be closed, sooner or later.

May the back stabbing begin!

Why would only the shorts have to be closed?

In the statement, Leverage trading will cease. shorts will be closed on the 10th if not before.

"Close currency financing financial services implementing rules 1,5 month beginning at 0:00 on the 10th , the fire will stop currency net new financing financing currency after currency to pay off all of the facility or stopping leveraged finance transactions."

And there is no such thing as a leveraged long?

No it's a real thing they do exist.

Do you have any idea of the meaning of the word "leveraged"?

[TERA]

I don't think China gov cares about asic miners - building miners is an actual good being produced, actual jobs being created, technology advancements, and money being pulled into the country with sales - often in fiat. I think what the China gov is mostly concerned with is the rampant daytrading on exchanges.

[dreamspark]

I think this market has completely lost its mind.

Also has anyone got a link to the 10th being a day something is supposed to be happening? Only thing I can find is about a Bitcoin conference or something.