|
JorgeStolfi
|
 |
June 29, 2014, 03:27:09 PM |
|
So 6 months of fear, panic, fud, crashes and more fear over nothing. Who would've guessed. And the worst part is when there turns out to be no China problem at all I suppose that the interview must have been news for those readers who have put everyone here on ignore. For the others, it has only confirmed what has been said many times here. The "China problem" is that bitcoin cannot be used as currency for e-commerce. Also people cannot deposit money directly through Alipay or bank transfers, they must use an indirect route (the accredited brokers, for OKCoin). The only news (old though) is that bitcoincharts is finally including OKCoin in their volume piecharts. However, they still don't include Huobi and several other Chinese exchanges that we barely know about. Oh well. |
|
|
|
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
|
|
N12
Donator
Legendary
 Offline
Activity: 1610
Merit: 1010
|
|
June 29, 2014, 03:27:23 PM |
|
China turns out be what everyone knew it was already. 6 months of fud. 6 months of made up news to cause constant crashes. 6 months of a group of people controlling this and getting rich. And every time they laughed their asses off in pure amazement that all the idiots fell for it again.
Everyone knew this was happening yet every time the idiot traders couldn't control their panic.
Oh when i say everyone knew this was happening i mean everyone but the forum clown. Blitz was crying non stop about his "facts you dislike" stuff. I can't even see anymore if he is 100% trolling or 100% stupid.
And here we are now. The pboc said there is room for Bitcoin. There turns out to be no ban whatsoever.
Show me one quote where I claimed that China banned Bitcoin per se. China has been cracking down on ways to deposit to Bitcoin exchanges (banks, payment providers), that is indeed a fact. In addition to that, they have disallowed Bitcoin to be used for commerce (Alibaba etc.). Do you want to contest that?  |
|
|
|
|
|
JorgeStolfi
|
|
June 29, 2014, 03:30:48 PM |
|
What's even worse is this: The exchange operators/reps of OKCoin, Huobi, and BTCC couldn't have gotten together like 4-5 months ago and presented an official, detailed joint explanation of this VERY SAME INFORMATION, HELPING TO COMBAT ALL THE FUD AND NEGATIVITY? WTF, REALLY? We needed to wait 4-5 fkn months after all the bullshit to die down for this to be officially said and presented to the community?
They did. Blame the bitcoin media (and those who believe them) for pretending that China did not exist. |
|
|
|
|
ChartBuddy
Legendary
Offline
Activity: 2170
Merit: 1776
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
|
 |
June 29, 2014, 04:00:40 PM |
|
|
|
|
|
|
ChartBuddy
Legendary
Offline
Activity: 2170
Merit: 1776
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
|
|
June 29, 2014, 05:00:40 PM |
|
|
|
|
|
|
Torque
Legendary
Offline
Activity: 3556
Merit: 5041
|
|
June 29, 2014, 05:07:53 PM |
|
What's even worse is this: The exchange operators/reps of OKCoin, Huobi, and BTCC couldn't have gotten together like 4-5 months ago and presented an official, detailed joint explanation of this VERY SAME INFORMATION, HELPING TO COMBAT ALL THE FUD AND NEGATIVITY? WTF, REALLY? We needed to wait 4-5 fkn months after all the bullshit to die down for this to be officially said and presented to the community?
They did. Blame the bitcoin media (and those who believe them) for pretending that China did not exist. Point me to the official statement link please, or stop making stuff up. |
|
|
|
|
|
vleroybrown
|
|
June 29, 2014, 05:43:35 PM |
|
China turns out be what everyone knew it was already. 6 months of fud. 6 months of made up news to cause constant crashes. 6 months of a group of people controlling this and getting rich. And every time they laughed their asses off in pure amazement that all the idiots fell for it again.
Everyone knew this was happening yet every time the idiot traders couldn't control their panic.
Oh when i say everyone knew this was happening i mean everyone but the forum clown. Blitz was crying non stop about his "facts you dislike" stuff. I can't even see anymore if he is 100% trolling or 100% stupid.
And here we are now. The pboc said there is room for Bitcoin. There turns out to be no ban whatsoever.
Show me one quote where I claimed that China banned Bitcoin per se. China has been cracking down on ways to deposit to Bitcoin exchanges (banks, payment providers), that is indeed a fact. In addition to that, they have disallowed Bitcoin to be used for commerce (Alibaba etc.). Do you want to contest that? Exactly this, do you think for a minute that if Wall Street has a serious Bitcoin offering or institution by the time the Alibaba IPO is available they wont be on that train. I say that they will be a knife in the side of Visa, MasterCard, Paypal etc. whatever they use since I haven't ever really gotten anything from them, but know loads of professionals that do use it. |
|
|
|
|
|
JorgeStolfi
|
|
June 29, 2014, 05:47:51 PM |
|
What's even worse is this: The exchange operators/reps of OKCoin, Huobi, and BTCC couldn't have gotten together like 4-5 months ago and presented an official, detailed joint explanation of this VERY SAME INFORMATION, HELPING TO COMBAT ALL THE FUD AND NEGATIVITY? WTF, REALLY? We needed to wait 4-5 fkn months after all the bullshit to die down for this to be officially said and presented to the community?
They did. Blame the bitcoin media (and those who believe them) for pretending that China did not exist. Point me to the official statement link please, or stop making stuff up. The changes to the deposit methods were announced on their homepages, as they happened over the past four months. I posted at least a dozen links to the notices in Chinese with Google Translations, others posted human translations, as well as Chinese media articles. Obviously they could not explain 4 months ago the changes that they were forced to make 2 months ago. In contrast, only months after Huobi had become the largest exchange by volume in the world did CoinDesk get up from their desk and arrange an interview their CEO. (And in that article they stated that China had 60% of the trade volume in the world, when in fact it had closer to 90%.) It took them a couple more months before they bothered to interview the CEO of OKCoin. Yet they don't spare screen space when they are interviewing "bitcoin entrepreneurs" who have only rosy promises to show. Have you ever seen them express any doubts about the soundness of a bitcoin venture, or the credibility of its proponents? |
|
|
|
|
ChartBuddy
Legendary
Offline
Activity: 2170
Merit: 1776
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
|
|
June 29, 2014, 06:00:40 PM |
|
|
|
|
|
|
Torque
Legendary
Offline
Activity: 3556
Merit: 5041
|
|
June 29, 2014, 06:05:50 PM |
|
The changes to the deposit methods were announced on their homepages, as they happened over the past four months. I posted at least a dozen links to the notices in Chinese with Google Translations, others posted human translations, as well as Chinese media articles. Obviously they could not explain 4 months ago the changes that they were forced to make 2 months ago.
I'm not talking about announcing changes to the deposit methods. I'm talking about the fact that the Chinese exchange operators could have gotten together 4-5 months ago, had a meeting, and then published an official joint statement saying something to the effect of, "China has not banned bitcoin, and will never ban bitcoin. Whatever you read, whatever you hear, it is not banned and will never be banned. Do not believe any supposed China news FUD that you read that claims otherwise. Also do not believe any Chinese FUD related to our eventual exchanges demise. Our Chinese exchanges are not only legal, but we will never shut down. We will continue to work around the deposit issues with the PBOC. Do not believe the FUD! Also, OKCoin's volume is skewed based on 0% fees and HFT only, but it's not fake per se. But yes, it is a little misleading for sure." They could have offically published this in English for the Westerners, and on official sites like Coindesk. But they didn't do that, now did they? No official joint statement at all to help reassure the public and quell fears. Hell, the individual Chinese exchange operators barely even spoke (except for Bobby Lee) during that time. Their PR was just as bad, if not worse, than Mark Karpeles. It was as if they WANTED the continued ambiguity to fuel the ongoing FUD panic selling. And that's exactly what it did. In contrast, only months after Huobi had become the largest exchange by volume in the world did CoinDesk get up from their desk and arrange an interview their CEO. (And in that article they stated that China had 60% of the trade volume in the world, when in fact it had closer to 90%.) It took them a couple more months before they bothered to interview the CEO of OKCoin. Yet they don't spare screen space when they are interviewing "bitcoin entrepreneurs" who have only rosy promises to show. Have you ever seen them express any doubts about the soundness of a bitcoin venture, or the credibility of its proponents?
I do agree with you on this point. Very much so. |
|
|
|
|
aminorex
Legendary
Offline
Activity: 1596
Merit: 1029
Sine secretum non libertas
|
|
June 29, 2014, 06:13:37 PM |
|
Regarding volume, the article by Zhang Weiwu suggests to me that some work needs to be done in order to compute representative relative volume numbers. However, that work can't be done without knowledge of the amount of BTC and fiat on deposit at each exchange, knowledge which is not generally forthcoming.
|
|
|
|
|
oda.krell
Legendary
Offline
Activity: 1470
Merit: 1007
|
|
June 29, 2014, 07:00:13 PM |
|
The changes to the deposit methods were announced on their homepages, as they happened over the past four months. I posted at least a dozen links to the notices in Chinese with Google Translations, others posted human translations, as well as Chinese media articles. Obviously they could not explain 4 months ago the changes that they were forced to make 2 months ago.
I'm not talking about announcing changes to the deposit methods. I'm talking about the fact that the Chinese exchange operators could have gotten together 4-5 months ago, had a meeting, and then published an official joint statement saying something to the effect of, "China has not banned bitcoin, and will never ban bitcoin. Whatever you read, whatever you hear, it is not banned and will never be banned. Do not believe any supposed China news FUD that you read that claims otherwise. Also do not believe any Chinese FUD related to our eventual exchanges demise. Our Chinese exchanges are not only legal, but we will never shut down. We will continue to work around the deposit issues with the PBOC. Do not believe the FUD! Also, OKCoin's volume is skewed based on 0% fees and HFT only, but it's not fake per se. But yes, it is a little misleading for sure." They could have offically published this in English for the Westerners, and on official sites like Coindesk. But they didn't do that, now did they? No official joint statement at all to help reassure the public and quell fears. Hell, the individual Chinese exchange operators barely even spoke (except for Bobby Lee) during that time. Their PR was just as bad, if not worse, than Mark Karpeles. It was as if they WANTED the continued ambiguity to fuel the ongoing FUD panic selling. And that's exactly what it did. That's not how it works in China, unless you want to make sure your business is shut down faster than you can say Socialism with Chinese Characteristics. |
|
|
|
|
ChartBuddy
Legendary
Offline
Activity: 2170
Merit: 1776
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
|
|
June 29, 2014, 07:01:30 PM |
|
|
|
|
|
|
Dragonkiller
Sr. Member
Offline
Activity: 378
Merit: 250
Super Smash Bros. Ultimate Available Now!
|
|
June 29, 2014, 07:11:47 PM |
|
|
|
|
|
|
adamstgBit
Legendary
Offline
Activity: 1904
Merit: 1037
Trusted Bitcoiner
|
|
June 29, 2014, 07:13:47 PM |
|
|
|
|
|
|
podyx
Legendary
Offline
Activity: 2338
Merit: 1035
|
|
June 29, 2014, 07:20:40 PM |
|
They're going for a premium, surprise surprise!! Honestly though, I don't think anyone with some sense in their head thought they would go below the market price. |
|
|
|
|
|
ShroomsKit
|
|
June 29, 2014, 07:21:45 PM |
|
Since there are quite some "experts" here who are sure that the price will be lower or higher than market will we hear from them when they turn out to be wrong? Will they make a post how they were completely wrong and maybe next time should be less arrogant. Or will they be quiet and simply do it again at the next event? Acting like the know all. |
|
|
|
|
|
CEG5952
|
|
June 29, 2014, 07:22:45 PM |
|
They're going for a premium, surprise surprise!! Honestly though, I don't think anyone with some sense in their head thought they would go below the market price. I don't think anyone with sense in their head thinks they are going for $1800 a pop either.  Who is this guy anyway? I can't imagine he's serious with a statement like that... |
|
|
|
|
podyx
Legendary
Offline
Activity: 2338
Merit: 1035
|
|
June 29, 2014, 07:23:54 PM |
|
They're going for a premium, surprise surprise!! Honestly though, I don't think anyone with some sense in their head thought they would go below the market price. I don't think anyone with sense in their head thinks they are going for $1800 a pop either. Who is this guy anyway? I can't imagine he's serious with a statement like that... Yea. 1.8k sounds a bit high, true I was expecting $700-$1k |
|
|
|
|
zimmah
Legendary
Offline
Activity: 1106
Merit: 1005
|
|
June 29, 2014, 07:24:03 PM |
|
lol, that's a little too optimistic. I don't think it's less than $600, but i don't think it's over $800 either. But on the other hand, they go on localbitcoin for over $1000 sometimes so it's actually maybe not that much of a stretch. But it would be nice if it was that high though. |
|
|
|
|
|
Poll
