Positive news for Chinese players : We are going to see $2000 in March itself ?

[beerlover]

PBOC cleared no banning of exchanges but only close monitoring. Does it mean we are going to see Chinese traders influencing bitcoin prices again. I really want to watch their exchange volumes to outnumber rest of world's.

https://www.cryptocoinsnews.com/bitcoin-exchanges-wont-be-prohibited-will-see-strict-supervision-pboc-official

[jjacob]

PBOC cleared no banning of exchanges but only close monitoring. Does it mean we are going to see Chinese traders influencing bitcoin prices again. I really want to watch their exchange volumes to outnumber rest of world's.

https://www.cryptocoinsnews.com/bitcoin-exchanges-wont-be-prohibited-will-see-strict-supervision-pboc-official

Chinese prices were at a discount to world prices, after the PBOC imposed restrictory measures last month. Now I think the price will catch up to the world prices. Close monitoring by the PBOC could also be perceived negatively. I don't think we will have a break out in the price because of this.

[gentlemand]

I really want to watch their exchange volumes to outnumber rest of world's.

Why? They're a bunch of dump happy pricks. Look what the market did when they were MIA. I assume fees are going to dampen their behaviour but they're degenerate gamblers who bring nothing to Bitcoin whatsoever.

[Omega Weapon]

PBOC cleared no banning of exchanges but only close monitoring. Does it mean we are going to see Chinese traders influencing bitcoin prices again. I really want to watch their exchange volumes to outnumber rest of world's.

https://www.cryptocoinsnews.com/bitcoin-exchanges-wont-be-prohibited-will-see-strict-supervision-pboc-official

Nope, at best we are going to see a small pump and nothing more, the price did well without the Chinese trying to influence the price with fake volume, so 2k by the end of march is too soon.

[X-ray]

PBOC cleared no banning of exchanges but only close monitoring. Does it mean we are going to see Chinese traders influencing bitcoin prices again. I really want to watch their exchange volumes to outnumber rest of world's.

https://www.cryptocoinsnews.com/bitcoin-exchanges-wont-be-prohibited-will-see-strict-supervision-pboc-official

Nope, because the chinese exchange still can do the trade activities since the PBOC try to blocking the withdraw service from some exchange sites. But i think it will not giving anything for the price of bitcoin right now because they're on the PBOC's eyes.

[pooya87]

PBOC cleared no banning of exchanges but only close monitoring. Does it mean we are going to see Chinese traders influencing bitcoin prices again. I really want to watch their exchange volumes to outnumber rest of world's.

~cryptocoinsnews~

this is nothing new! from the start, PBoC wanted to "regulate" these exchanges so that they work according to the law of their country. it is just like a Forex broker, these exchanges worked with fiat and needed to abide by fiat laws.
also Chinese real trade volume was never higher and will never be higher than the rest of the world but they will start having high volume soon when people come back from other exchanges to old Chinese ones.

[phr0stbyt3]

That's really some good news but of course every good news has a bad news also. Do you think if on 20th march for example the price reaches 2000$ people won't actually sell it. If you see currently there is a steady growth in the price and if there is a huge bump there is of course going to be lots of selling and the price will again come down.

[michkima]

I really want to watch their exchange volumes to outnumber rest of world's.

Why? They're a bunch of dump happy pricks. Look what the market did when they were MIA. I assume fees are going to dampen their behaviour but they're degenerate gamblers who bring nothing to Bitcoin whatsoever.

I agree with this. THere is no point really relying on the chinese market on the prices of bitcoins. They generally disrupt the flow or it and it's natural course. Mostly we hear that chinese bitcoin exchanges really just inflate and cheat their volumes to influence and control the market. Which is bad as people from around the world tends to watch chinese markets. This should change.

[jjacob]

I really want to watch their exchange volumes to outnumber rest of world's.

Why? They're a bunch of dump happy pricks. Look what the market did when they were MIA. I assume fees are going to dampen their behaviour but they're degenerate gamblers who bring nothing to Bitcoin whatsoever.

Ha ha... Whatever we do, we can't ignore the Chinese. Let us not forget that Chinese account for the largest mining power as well. If they truly dumped bitcoins (and were not just MIA), the market would take a beating.

[gentlemand]

Ha ha... Whatever we do, we can't ignore the Chinese. Let us not forget that Chinese account for the largest mining power as well. If they truly dumped bitcoins (and were not just MIA), the market would take a beating.

Indeed, but I'll assume the serious miners never go anywhere near exchanges. They'll have very juicy OTC deals as they're the go to source for large amounts of coin. Big league buyers won't have many other options.

[Hazir]

Isn't this news caused price of bitcoin to drop yesterday and today? Chinese traders are reacting allergically to every piece on information issued by PBoC.
It doesn't even matter that PBoC said they will only monitor situation and watch more closer if trading on Chinese exchanges is done by the book.

Thinking that we will see $2000 because China is decided to keep status quo for now is foolish IMO.

[Herbert2020]

why are people in this board always so dramatic about bitcoin price.
when there is a small dip or a bad news of any kind they start putting up obituaries about price falling under $1000 and everything is finished, blah blah.
and when there is a small rise or a good news of any kind they start talking about moon and prices going up in a short time.

$2000 in March! no way. but there will be a big rise soon because of this trace back and because of all the money we all gained from the rise.

[lordquanta]

Did you check this news from bloomberg which mentions that major chinese exchanges are still continuing the suspension. Only this time it is indefinite!!

https://www.bloomberg.com/news/articles/2017-03-08/china-s-top-bitcoin-exchanges-extend-suspension-of-withdrawals

[alyssa85]

Did you check this news from bloomberg which mentions that major chinese exchanges are still continuing the suspension. Only this time it is indefinite!!

https://www.bloomberg.com/news/articles/2017-03-08/china-s-top-bitcoin-exchanges-extend-suspension-of-withdrawals

They're also going to be blacklisting addresses - presumably because they think money laundering is going on. What happens to the coins owned by the blacklisted addresses? Will they seize them and auction them? Or dump them on another exchange?

It is this kind of thing that might give the SEC pause when deciding whether to approve the ETF.

[Omega Weapon]

Did you check this news from bloomberg which mentions that major chinese exchanges are still continuing the suspension. Only this time it is indefinite!!

https://www.bloomberg.com/news/articles/2017-03-08/china-s-top-bitcoin-exchanges-extend-suspension-of-withdrawals

They're also going to be blacklisting addresses - presumably because they think money laundering is going on. What happens to the coins owned by the blacklisted addresses? Will they seize them and auction them? Or dump them on another exchange?

It is this kind of thing that might give the SEC pause when deciding whether to approve the ETF.

This is why it is important to introduce anonymity features to bitcoin, if those features are not put in place then the fungibility of bitcoin is going to be put to test since coins that have gone through the dark web or casinos will not be accepted any longer.

[~Bitcoin~]

They're also going to be blacklisting addresses - presumably because they think money laundering is going on. What happens to the coins owned by the blacklisted addresses? Will they seize them and auction them? Or dump them on another exchange?

It is this kind of thing that might give the SEC pause when deciding whether to approve the ETF.

Nobody can control any bitcoin addresses that are held by other people so they may blacklist some bitcoin addresses but owner can easily escape it by using multiple bitcoin mixer to send coins out from those addresses to new one and PBOC will have hard time to track all of those new addresses and at some point they may just stop tracking it.  

[Idrisu]

That's really some good news but of course every good news has a bad news also. Do you think if on 20th march for example the price reaches 2000$ people won't actually sell it. If you see currently there is a steady growth in the price and if there is a huge bump there is of course going to be lots of selling and the price will again come down.

if bitcoin price get to $2000 the economic laws of diminished return will force the price down but not too deep. I terms close people bank of china monitoring bitcoin and others crypto currencies exchangers like bitcc, okcoin etc as a good news as they comment and decision always affect the market in negative way.

[olushakes]

PBOC cleared no banning of exchanges but only close monitoring. Does it mean we are going to see Chinese traders influencing bitcoin prices again. I really want to watch their exchange volumes to outnumber rest of world's.

https://www.cryptocoinsnews.com/bitcoin-exchanges-wont-be-prohibited-will-see-strict-supervision-pboc-official

I wont be banking on the Chinese words for whatever because they are the ones that are saying something now, then later they say something else and moreso that statement is ambiguous because keeping close watch could mean they can wake up tomorrow and start another round of investigation anytime they deem fit to stir the market in whatever direction they deem fit.

[Omega Weapon]

They're also going to be blacklisting addresses - presumably because they think money laundering is going on. What happens to the coins owned by the blacklisted addresses? Will they seize them and auction them? Or dump them on another exchange?

It is this kind of thing that might give the SEC pause when deciding whether to approve the ETF.

Nobody can control any bitcoin addresses that are held by other people so they may blacklist some bitcoin addresses but owner can easily escape it by using multiple bitcoin mixer to send coins out from those addresses to new one and PBOC will have hard time to track all of those new addresses and at some point they may just stop tracking it.  

If a blacklist was initiated then eventually all the addresses involved in mixing coins could be blacklisted and in that way you will be unable to use them in exchanges and websites like that.

[hase0278]

2000$ price I think is too big to be reached now in march specially now that ETF has been expressedly denied by SEC. We might be in a rising movement again but bitcoin going to moon like that won't be easy. If there should be addrresses that will be blacklisted, I wish at least the bitcoin they got on those addresses will be sold and continue to be part of market's supply.