Cassius
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May 07, 2014, 05:57:58 PM |
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Last chance to buy EVER.
Why? China is buying all the coins and never selling any of them. Bitcoin will go to the moon but no one will be able to buy them again.
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ChartBuddy
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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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May 07, 2014, 06:00:58 PM |
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cbeast
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Let's talk governance, lipstick, and pigs.
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May 07, 2014, 06:05:00 PM |
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Last chance to buy EVER.
Why? China is buying all the coins and never selling any of them. Bitcoin will go to the moon but no one will be able to buy them again. Maybe that's why China has created a moon landing program and are starting the world's largest IPO.. They will open Alibababitcoin stores on the moon.
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aliro38
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May 07, 2014, 06:09:36 PM |
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Last chance to buy EVER.
Why? China is buying all the coins and never selling any of them. Bitcoin will go to the moon but no one will be able to buy them again. Maybe that's why China has created a moon landing program and are starting the world's largest IPO.. They will open Alibababitcoin stores on the moon. Oh yea, to da moon on da moon! I'm buying! Show me da coins. Wait a minute: from the moon shouldn't be "to da earth"?!
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akujin
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May 07, 2014, 06:25:55 PM |
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I saw 1.3k and some 190 to 200+ btc transactions from here: http://www.listentobitcoin.com/So maybe the chinese are moving out to another exchange? But i'm not sure if the site really show the latest btc transactions... EDIT: I checked blockchain.info and it does show the latest transaction
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Walsoraj
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May 07, 2014, 06:35:16 PM Last edit: May 07, 2014, 06:50:07 PM by Walsoraj |
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I saw 1.3k and some 190 to 200+ btc transactions from here: http://www.listentobitcoin.com/So maybe the chinese are moving out to another exchange? But i'm not sure if the site really show the latest btc transactions... EDIT: I checked blockchain.info and it does show the latest transaction By "chinese" do you mean the pooled funds controlled by a single trader, or very small group, that uses HFT to manipulate the price with minimal risk?
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windjc
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May 07, 2014, 06:42:47 PM |
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I'm curious if this rally on Houbi was ignited by short covering after the announcement that leverage trading would end May 10th. Thats the only plausible legal reason why that announcement would have a bullish effect.
The announcement is terrible for Houbi traders as it restricts the kind of trading that has made that exchange so popular. However, there were probably more shorts than longs (then again, looking at Finex, maybe not).
At some point longs will have to cover too. But then what? We know very little new money is going to be able to come into the exchanges in the future, so what is going to dictate the price?
If you can't withdraw fiat from an exchange, miners won't sell their coins on there.
So basically, the Chinese are just going to become a bunch of traders who are selling BTC to each other, but have to buy BTC to withdrawal? That sounds exactly like what happened to Gox.
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latoxine
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May 07, 2014, 06:47:42 PM |
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So basically, the Chinese are just going to become a bunch of traders who are selling BTC to each other, but have to buy BTC to withdrawal? That sounds exactly like what happened to Gox.
is it impossible for chinese to trade BTC and deposit/withdraw on foreigner markets ?
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JayJuanGee
Legendary
Online
Activity: 3878
Merit: 11064
Self-Custody is a right. Say no to"Non-custodial"
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May 07, 2014, 06:50:12 PM |
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Isn't it 1h am in china ? They don't sleep ?
usually things append around 8h am chinese time no ?
We are ignoring China now. They can join us or get left behind. I don't think so. High volume on all the exchanges. yes, now, but when I look the charts, it seems that the last big dump moove were in the morning around 6-8h am chinese time...And usually quite at this evening time... May the gravity law be the stronger, I want to buy some coins at good price before I die ! It could very well be a "good price" right now. Please no ! I'm loosing my hair ! Was about to buy at 420 ( trigger at 403 ) And I'm waiting for a good pump...Is it make me what you call a bear ( beer ? ) EDIT : waiting for a dump, not a pump. Seems like a losing strategy to wait for the best possible price to buy BTC. Seems better (and safer) to buy BTC as the price is going down. Even though you may NOT minimize your average price per BTC, at least you will NOT be chasing the price up or be left at the train station.
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Walsoraj
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May 07, 2014, 06:52:16 PM Last edit: May 07, 2014, 07:15:00 PM by Walsoraj |
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Seems like a losing strategy to wait for the best possible price to buy BTC. Seems better (and safer) to buy BTC as the price is going down. Even though you may NOT minimize your average price per BTC, at least you will NOT be chasing the price up or be left at the train station.
Translation: Contrary to the advice of every experienced trader, trying to call the bottom is a good idea. *edit* And I bought a lot of bitcoin at much higher price and desperately need the support of greater fools.
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Bitcoin_is_here_to_stay
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May 07, 2014, 06:53:58 PM |
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I'm curious if this rally on Houbi was ignited by short covering after the announcement that leverage trading would end May 10th. Thats the only plausible legal reason why that announcement would have a bullish effect.
The announcement is terrible for Houbi traders as it restricts the kind of trading that has made that exchange so popular. However, there were probably more shorts than longs (then again, looking at Finex, maybe not).
At some point longs will have to cover too. But then what? We know very little new money is going to be able to come into the exchanges in the future, so what is going to dictate the price?
If you can't withdraw fiat from an exchange, miners won't sell their coins on there.
So basically, the Chinese are just going to become a bunch of traders who are selling BTC to each other, but have to buy BTC to withdrawal? That sounds exactly like what happened to Gox.
I was also wondering about that - I think it must be some way left of withdrawing fiat from Chinese exchanges? I though only new fiat deposit are prohibited. If you can no more withdraw fiat than your only option would be to buy btc. Who would sell btc in such situation - exchange owners?
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akujin
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May 07, 2014, 06:55:10 PM |
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I saw 1.3k and some 190 to 200+ btc transactions from here: http://www.listentobitcoin.com/So maybe the chinese are moving out to another exchange? But i'm not sure if the site really show the latest btc transactions... EDIT: I checked blockchain.info and it does show the latest transaction By "chinese" do you mean the pooled funds controlled by a single trader, or very small group, that uses HFT to manipulate the price with minimal risk? The chinese trading at the chinese exchanges This is the first time I watched the btc transactions.. I think I've seen more than 20k btc transaction in a few minutes... Does this normally happen everyday?
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Cassius
Legendary
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Activity: 1764
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May 07, 2014, 06:57:27 PM |
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I wonder if a side effect of China's exchanges being hamstrung (at best) is that Chinese miners will stop mining because there's no easy way to sell their coins. That would lead to a drop in difficulty, benefiting miners elsewhere - though potentially placing further downward pressure on prices on the remaining exchanges.
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Bitcoin_is_here_to_stay
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May 07, 2014, 06:59:00 PM |
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So basically, the Chinese are just going to become a bunch of traders who are selling BTC to each other, but have to buy BTC to withdrawal? That sounds exactly like what happened to Gox.
is it impossible for chinese to trade BTC and deposit/withdraw on foreigner markets ? They definitely can send BTC to foreign exchanges. It is impossible to effectively forbid it. I imagine they should no problems trading at least at exchanges who are relaxed about customer verification, like BTC-e. With some other, I do not know. Chinese seem to have limit on how much money you can transfer abroad every year - I do not know if there are any restrictions on bringing money in (i.e. selling BTC on Bitstamp and wiring $$$ back to China)? Theoretically, Chinese authorities should like $$$ flowing into the country - but not all of their actions seem logical
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ChartBuddy
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Activity: 2338
Merit: 1802
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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May 07, 2014, 07:00:57 PM |
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Bitcoin_is_here_to_stay
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May 07, 2014, 07:01:17 PM |
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I wonder if a side effect of China's exchanges being hamstrung (at best) is that Chinese miners will stop mining because there's no easy way to sell their coins. That would lead to a drop in difficulty, benefiting miners elsewhere - though potentially placing further downward pressure on prices on the remaining exchanges.
Yeah, I was also wondering that. I do not remember what is the Chinese authorities stand on mining, mining equipment vendors etc? To some extend, even if any transferring BTC out of China would be profibited, one can imagine big players buying them from smaller miners at discount and than doing a big smuggling operation.
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Bitcoin_is_here_to_stay
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May 07, 2014, 07:03:02 PM |
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So basically, the Chinese are just going to become a bunch of traders who are selling BTC to each other, but have to buy BTC to withdrawal? That sounds exactly like what happened to Gox.
Gox was even worse at the end - you could not even withdraw BTC. We later learnt why ...
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akujin
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May 07, 2014, 07:09:09 PM |
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JorgeStolfi
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May 07, 2014, 07:10:19 PM |
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So basically, the Chinese are just going to become a bunch of traders who are selling BTC to each other, but have to buy BTC to withdrawal? That sounds exactly like what happened to Gox.
Mark first delayed withdrawals without admitting it. Then, when people began to realize what he was doing, he blocked all withdrawals by surprise. Doing so he trapped half a billion USD worth of coins and cash, without giving the users a choice. I suppose that the Chinese exchanges will never block BTC withdrawals, and will give advance warning of the end of yuan withdrawals. So, when the latter happens, I expect that only a few traders will be left, and most of them will have means to withdraw, e.g. in cash. However, the bank statements may be read as barring the exchanges from having bank accounts at all, even if they are for internal use only and clients cannot deposit there. If this interpretation is correct, then the exchanges will not be able to keep clients' yuan at all (they would not hold cash in a safe, I suppose), and will have to close, like FXBTC did. In any case, most traders will probably sell all their bitcoins and cash out, others will buy those bitcoins, withdraw them, and transfer them to Western exchanges or hoard them. That shoudl cause the price to drop in China and in the West together.
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