YipYip
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June 01, 2014, 06:48:34 AM |
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They are using "4th party processor", i.e. recharge voucher
1st parties are the exchanges and client 2nd party is the commercial banks 3rd party is the Alipay (like Paypal)
PBoC banned 2nd and 3rd parties, so the exchanges add one more layer on top of that.
All noobs and non-believers should have sold during the capitulation. The Chinese who are buying now are those really understand the value of bitcoin.
Do they seriously think the PBOC won't ban "4th party" too, or didn't intend to ban it already? The exchange operators seem to be playing an extremely dangerous game here. China can push it as far underground as they want to, but making it a 100% black market is not going to stop it. BTC is too great of a tool to get money both in and out of china. Sure the volume reported on exchanges might go down, but the trade can not be stopped. Oh look con master 2000 shows his theifing head Dont you have money to steal from others somewhere ??
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YogoH
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June 01, 2014, 06:49:47 AM |
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I can't imagine how average Joes [in China] are still brave enough to flow in with pboc's gun on the back?
I don't think that average Joe clients are under any pressure or threat. At most they may have their bank accounts closed if they manage to use them to trade bitcoins. If there will be penalties, they should fall only on card processors, exchanges, brokers etc.. Hm, clearly the money flow is not cut out but it isn't sufficient for why China is taking lead again. Why China is taking the lead again, even though money flow in is more complicated than other areas? -Chinese are real bitcoin believers? -chinese are more greedy? -chinese whales are special? What else? Maybe because China has a population of like 1 billion. Even if a less percent of the Chinese use bitcoin, it is still a greater number than in the west.
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Parazyd
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June 01, 2014, 06:52:58 AM |
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Damn it feels so much better to wake up in uptrends then downtrends
Same here... It's gonna be a nice summer
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MahaRamana
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June 01, 2014, 06:54:40 AM |
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I can't imagine how average Joes [in China] are still brave enough to flow in with pboc's gun on the back?
I don't think that average Joe clients are under any pressure or threat. At most they may have their bank accounts closed if they manage to use them to trade bitcoins. If there will be penalties, they should fall only on card processors, exchanges, brokers etc.. Hm, clearly the money flow is not cut out but it isn't sufficient for why China is taking lead again. Why China is taking the lead again, even though money flow in is more complicated than other areas? -Chinese are real bitcoin believers? -chinese are more greedy? -chinese whales are special? What else? Maybe because China has a population of like 1 billion. Even if a less percent of the Chinese use bitcoin, it is still a greater number than in the west. You mean 1.35 billion.
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Parazyd
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June 01, 2014, 06:56:51 AM |
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It's different people, a different world. We only follow them when they get the price up.
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ChartBuddy
Legendary
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Activity: 2324
Merit: 1801
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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June 01, 2014, 07:00:25 AM |
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Threebits
Member
Offline
Activity: 75
Merit: 10
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June 01, 2014, 07:02:40 AM |
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I can't imagine how average Joes [in China] are still brave enough to flow in with pboc's gun on the back?
I don't think that average Joe clients are under any pressure or threat. At most they may have their bank accounts closed if they manage to use them to trade bitcoins. If there will be penalties, they should fall only on card processors, exchanges, brokers etc.. Hm, clearly the money flow is not cut out but it isn't sufficient for why China is taking lead again. Why China is taking the lead again, even though money flow in is more complicated than other areas? -Chinese are real bitcoin believers? -chinese are more greedy? -chinese whales are special? What else? Maybe because China has a population of like 1 billion. Even if a less percent of the Chinese use bitcoin, it is still a greater number than in the west. For the educated, I wonder whether Chinese population is really bigger? I tend to believe the main reason lies in RMB yuan. Chinese people has less confidence in their currency than other areas. Before Yuan collapses, China may inevitably take lead.
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Parazyd
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June 01, 2014, 07:05:54 AM |
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Why would Yuan collapse? It's as good as ever.
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YipYip
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June 01, 2014, 07:08:39 AM |
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Why would Yuan collapse? It's as good as ever.
Huge banking sector bubble similar to japan in the late 80's
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pinky
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June 01, 2014, 07:19:45 AM |
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Why would Yuan collapse? It's as good as ever.
Huge banking sector bubble similar to japan in the late 80's The whole world is in bubble and no one knows when and if things will collapse. Many well-known people (banking, hedge funds) are saying China will collapse, USA will collapse, Japan will collapse, EU will collapse, stock market will collapse, etc., but so far they are 100% wrong for many years since financial crisis and people listening to them are losing money not participating in the markets! Some are even saying BTC has no future and is doomed to fail, but 100x gain in one year shows you how no one has a clue what's going on. I am just saying markets are irrational and things can go on like this for years and years.
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Parazyd
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June 01, 2014, 07:24:01 AM |
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Why would Yuan collapse? It's as good as ever.
Huge banking sector bubble similar to japan in the late 80's The whole world is in bubble and no one knows when and if things will collapse. Many well-known people (banking, hedge funds) are saying China will collapse, USA will collapse, Japan will collapse, EU will collapse, stock market will collapse, etc., but so far they are 100% wrong for many years since financial crisis and people listening to them are losing money not participating in the markets! Some are even saying BTC has no future and is doomed to fail, but 100x gain in one year shows you how no one has a clue what's going on. I am just saying markets are irrational and things can go on like this for years and years. Exactly.
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TERA
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June 01, 2014, 07:27:19 AM |
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Bitcoin's collapse will probably just be one big candle straight to 0 - not something gradual that we predict and chart out with TA. Maybe the same with the economy.
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Threebits
Member
Offline
Activity: 75
Merit: 10
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June 01, 2014, 07:29:00 AM |
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Why would Yuan collapse? It's as good as ever.
Huge banking sector bubble similar to japan in the late 80's The whole world is in bubble and no one knows when and if things will collapse. Many well-known people (banking, hedge funds) are saying China will collapse, USA will collapse, Japan will collapse, EU will collapse, stock market will collapse, etc., but so far they are 100% wrong for many years since financial crisis and people listening to them are losing money not participating in the markets! Some are even saying BTC has no future and is doomed to fail, but 100x gain in one year shows you how no one has a clue what's going on. I am just saying markets are irrational and things can go on like this for years and years. Huobi is currently $10 higher than that of stamp. Will China take lead for this rally again? If so, why China always takes lead? Irration does not explain this. There must be something else behind.
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HairyMaclairy
Legendary
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Activity: 1414
Merit: 2174
Degenerate bull hatter & Bitcoin monotheist
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June 01, 2014, 07:30:00 AM |
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Why would Yuan collapse? It's as good as ever.
Huge banking sector bubble similar to japan in the late 80's And the yen has not collapsed. Don't fool yourself the yuan isn't going anywhere. All of that debt is public debt and the Chinese debt to GDP ratio is only 31%. Without even considering tools like quantative easing.
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MahaRamana
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June 01, 2014, 07:37:44 AM |
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Why would Yuan collapse? It's as good as ever.
Huge banking sector bubble similar to japan in the late 80's The whole world is in bubble and no one knows when and if things will collapse. Many well-known people (banking, hedge funds) are saying China will collapse, USA will collapse, Japan will collapse, EU will collapse, stock market will collapse, etc., but so far they are 100% wrong for many years since financial crisis and people listening to them are losing money not participating in the markets! Some are even saying BTC has no future and is doomed to fail, but 100x gain in one year shows you how no one has a clue what's going on. I am just saying markets are irrational and things can go on like this for years and years. Huobi is currently $10 higher than that of stamp. Will China take lead for this rally again? If so, why China always takes lead? Irration does not explain this. There must be something else behind. Capital controls actually make bitcoin more attractive to wealthy chinese than to wealthy people living in free capital countries. People in free capital countries know they can enjoy their money wherever they go in the world. People in China not. What is better for them than to hold some of their wealth in BTC ?
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Cassius
Legendary
Offline
Activity: 1764
Merit: 1031
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June 01, 2014, 07:45:38 AM |
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I can't imagine how average Joes [in China] are still brave enough to flow in with pboc's gun on the back?
I don't think that average Joe clients are under any pressure or threat. At most they may have their bank accounts closed if they manage to use them to trade bitcoins. If there will be penalties, they should fall only on card processors, exchanges, brokers etc.. Hm, clearly the money flow is not cut out but it isn't sufficient for why China is taking lead again. Why China is taking the lead again, even though money flow in is more complicated than other areas? -Chinese are real bitcoin believers? -chinese are more greedy? -chinese whales are special? What else? Maybe because China has a population of like 1 billion. Even if a less percent of the Chinese use bitcoin, it is still a greater number than in the west. For the educated, I wonder whether Chinese population is really bigger?
I tend to believe the main reason lies in RMB yuan. Chinese people has less confidence in their currency than other areas. Before Yuan collapses, China may inevitably take lead. What are you suggesting? Fake volume?
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Parazyd
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June 01, 2014, 07:48:33 AM |
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I can't imagine how average Joes [in China] are still brave enough to flow in with pboc's gun on the back?
I don't think that average Joe clients are under any pressure or threat. At most they may have their bank accounts closed if they manage to use them to trade bitcoins. If there will be penalties, they should fall only on card processors, exchanges, brokers etc.. Hm, clearly the money flow is not cut out but it isn't sufficient for why China is taking lead again. Why China is taking the lead again, even though money flow in is more complicated than other areas? -Chinese are real bitcoin believers? -chinese are more greedy? -chinese whales are special? What else? Maybe because China has a population of like 1 billion. Even if a less percent of the Chinese use bitcoin, it is still a greater number than in the west. For the educated, I wonder whether Chinese population is really bigger?
I tend to believe the main reason lies in RMB yuan. Chinese people has less confidence in their currency than other areas. Before Yuan collapses, China may inevitably take lead. What are you suggesting? Fake volume? Oh come on... So China is a small-populated country today. Seriously?
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magicmexican
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June 01, 2014, 07:48:54 AM |
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I need my dose of the bear fud, anyone?
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TERA
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June 01, 2014, 07:50:08 AM |
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I need my dose of the bear fud, anyone?
The U.S. Dollar is suddenly going to get very strong and rally.
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Parazyd
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June 01, 2014, 07:51:52 AM |
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I need my dose of the bear fud, anyone?
Nope, soz It's just too good.
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