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Author Topic: Calm those tits guys, the China "issue" is not an issue..  (Read 1354 times)
ProfessionalGoogler
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February 09, 2017, 01:48:43 PM
 #1

Boo hoo 1 month delay in withdraws for the sake of KEEPING BITCOIN LEGAL IN CHINA and fighting against money laundering!

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February 09, 2017, 02:27:43 PM
 #2

even if they are regulating bitcoin, as long as there are anyway to access the internet unless North Korea like, bitcoin to China, nothing at all.

there are a major drop over here right now, though.

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February 09, 2017, 02:46:06 PM
 #3

even if they are regulating bitcoin, as long as there are anyway to access the internet unless North Korea like, bitcoin to China, nothing at all.

there are a major drop over here right now, though.

Does China have localbitcoins? Thats the way to go, exchanges are too centralised
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February 09, 2017, 04:01:51 PM
 #4

It provided a good opportunity to buy cheap bitcoins though. Thank you china. It seems that while china is dumping, the rest of the world is pumping.


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February 09, 2017, 04:59:29 PM
 #5

Bitcoin price recover so fast today, even though price decline were significant.
Chinese are not longer could manipulate bitcoin price so deep like before as we have spread widely over the world. I don't read the recent news about 1 month delay for bitcoin legality in China, may anyone share some good articles related to this.
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February 09, 2017, 05:05:49 PM
 #6

Erm.. not saying its 'good' - but its an explainer at least..

https://cointelegraph.com/news/bitcoin-price-falls-9-overnight-as-2-chinese-exchanges-stop-withdrawals

The next 24 hours are critical!
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February 09, 2017, 07:32:55 PM
 #7


This is one panic drop I can understand. I would have a problem and panic too if the exchange I used held up my coins for a month. Who knows, maybe they confiscate coins next?
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February 09, 2017, 08:39:12 PM
 #8

It provided a good opportunity to buy cheap bitcoins though. Thank you china. It seems that while china is dumping, the rest of the world is pumping.
Do you mean the rest of world is actually doing what China did previously and China also vice versa ?
I guess we need not to give more weightage to China no more, for that the good supporting evidence must be recent stable prices above $1000. But it is obvious any exchange causality will affect bitcoin prices hence market will bounce back. We can just use this as an buying opportunity.
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February 09, 2017, 09:24:54 PM
 #9

Boo hoo 1 month delay for the sake of KEEPING BITCOIN LEGAL IN CHINA!

 Roll Eyes



Do you use those exchanges?
How would you feel if they had your coins stuck now or if you were lucky your coins weren't there at the wrong time?

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February 09, 2017, 09:44:31 PM
 #10

It's not like people didn't have plenty of warning to get their coins out... you know with the ongoing investigation into BTC exchanges in China.



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February 09, 2017, 10:16:33 PM
 #11

It's not like people didn't have plenty of warning to get their coins out... you know with the ongoing investigation into BTC exchanges in China.

I consider keeping coins at an exchange to be foolish. Exchanges are vulnerable to attack from hackers, governments, dishonest employees, and other lowlifes.

There's also no reason. It takes very little time to transfer bitcoins to an exchange if you wish to sell them.

Transferring fiat to exchanges is what is slow and expensive. It is also far less likely to be stolen.

I can see leaving a small amount of Bitcoin at an exchange for immediate trading, and larger amounts of fiat there for convenience, but not any sizeable amount of Bitcoin.

Paper wallets rule.
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February 09, 2017, 10:21:59 PM
 #12

Boo hoo 1 month delay for the sake of KEEPING BITCOIN LEGAL IN CHINA!

 Roll Eyes



Do you use those exchanges?
How would you feel if they had your coins stuck now or if you were lucky your coins weren't there at the wrong time?
Getting your coins stuck like that in exchanges really sucks.What is the difference between fiat and bitcoin when the exchanges we trade have more control on our assets than the owner itself and people should stop going to these exchanges in the future as they do not regard its valued customers .
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February 09, 2017, 11:22:35 PM
 #13

It's not like people didn't have plenty of warning to get their coins out... you know with the ongoing investigation into BTC exchanges in China.

Very disturbing timeframe, but indeed been not-so-threatening to people affected. Announced in advance.
But why are they acting that harsh right now, since on coindesk.com you could read the statement that PBoC did NOT forced them to halt withdrawals. This has been their own decision.
Totally uneccessary!

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February 10, 2017, 03:52:38 AM
 #14

anything China related has always been exagerated and put under magnifying glass. and it always affects the price first because of the shake outs that come afterwards.

and it seems like people never learn! they continue to panic and sell their coins to the whales over and over again.



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February 10, 2017, 03:57:42 AM
 #15

anything China related has always been exagerated and put under magnifying glass. and it always affects the price first because of the shake outs that come afterwards.

and it seems like people never learn! they continue to panic and sell their coins to the whales over and over again.

this is what happen now and i think china is getting affects with the price, before the news about PBOC, the price is stable in $1k but after the PBOC release the news, then the price is suddenly getting down too deep and even it reach $9xx number. it seems china wants to control and make the market panic and i think they are successful to reach the goal and now, we are only waiting for a good news and we can hope that the price will be back.


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February 10, 2017, 04:04:09 AM
 #16

anything China related has always been exagerated and put under magnifying glass. and it always affects the price first because of the shake outs that come afterwards.

and it seems like people never learn! they continue to panic and sell their coins to the whales over and over again.

this is what happen now and i think china is getting affects with the price, before the news about PBOC, the price is stable in $1k but after the PBOC release the news, then the price is suddenly getting down too deep and even it reach $9xx number. it seems china wants to control and make the market panic and i think they are successful to reach the goal and now, we are only waiting for a good news and we can hope that the price will be back.

you do realize that the majority of the dumps happened in the western exchanges not Chinese. it started on big exchanges such as bitfinex and bitstamp when whales were dumping big amounts of bitcoin and you can see it on the charts with a vertical red candlestick showing the size of their dumps.
and if you can find the history of it there were dumps as big as 100 to 500 bitcoins at a time.



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JimboToronto
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February 10, 2017, 04:59:56 AM
 #17

you do realize that the majority of the dumps happened in the western exchanges not Chinese.

Traditionally prices on Chinese exchanges were considerably higher than on western exchanges. Wealthy Chinese were willing to pay a premium for coins at home just to get them to western exchanges, where they were willing to sell them at a discount just to get their coins out of China, despite capital controls.

Of course the dumps happened at western exchanges, just as the price rallies mostly originated in China

Isn't this why the PBOC pressured the exchanges into suspending Bitcoin withdrawals?

Since the withdrawal limitations, this gap has narrowed, and at times Chinese prices have actually been lower.

The PBOC seems to be accomplishing what it set out to do: stemming the outflow of yuan from China.


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February 10, 2017, 06:06:25 AM
 #18

The only issue is the block size.



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February 10, 2017, 09:08:51 AM
 #19

this is not an issue, it is an opportunity.
whenever there is a dip like this, it can be a potential chance for buying cheaper bitcoins before it is back up again.
China is never going anywhere so as other 100 or so countries which have been buying bitcoin nonstop.

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February 10, 2017, 10:50:48 AM
 #20

this is not an issue, it is an opportunity.
whenever there is a dip like this, it can be a potential chance for buying cheaper bitcoins before it is back up again.
China is never going anywhere so as other 100 or so countries which have been buying bitcoin nonstop.
As mentioned China doesn't move anywhere. Its just to make some systematic regulations to avoid money laundering and avoid illegal mining operations. As countries are competing to be digitized China won't move out of digital development as well digital currency making. In the past bitcoin price variation happens in relation to China's bitcoin market now such scenarios have changed a lot.

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