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Inedible (OP)
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May 04, 2013, 06:55:50 PM |
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After the CCTV (Chinese TV station) broadcast their Bitcoin documentary, I believe the price will rise to approximately $150 within the next 10 days. The price rise won't come into effect till end of next week as it'll take time for people to read and understand about Bitcoin before putting money into the system. Putting money into the system will take time too. Despite the number of users signing up from China, the volume of each user will be lower due to lower incomes. See you at the top... Edit: The reason why I don't think there will be a massive increase in price is because the people that bought near the top of the last spike will be looking to exit and might just be looking to limit their losses. Some FunFor China is a country that will bring us to our knees. http://www.youtube.com/watch?v=58mE7Vy1XrcOr if that's blocked in your country, try this one: http://www.youtube.com/watch?v=ikOvrPmsYDw (this one was performed infront of the Queen of England) |
If this post was useful, interesting or entertaining, then you've misunderstood.
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"I'm sure that in 20 years there will either be very large transaction volume or no volume." -- Satoshi
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ElectricMucus
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May 04, 2013, 06:58:53 PM |
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China was in on it on the way to 266. It's the gambling culture over there that's interested, buy low sell high... they are in it for the extra yuan.
Did you actually read the translation of the CCTV piece? It's not exactly what I would call "bullish".
In fact they even conclude that it's a bubble at the end.
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Crazy
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May 04, 2013, 07:03:37 PM |
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This China hype machine is roaring now.
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Elon Krusky
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ElectricMucus
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May 04, 2013, 07:07:57 PM |
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This China hype machine is roaring now.
Bulls grasping yet another straw. |
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Frozenlock
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May 04, 2013, 07:08:49 PM |
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How does that work? I win if I take the longest, right?
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ElectricMucus
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May 04, 2013, 07:10:39 PM |
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How does that work? I win if I take the longest, right?
I think so. |
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Birdy
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May 04, 2013, 07:13:16 PM |
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China was in on it on the way to 266. It's the gambling culture over there that's interested, buy low sell high... they are in it for the extra yuan.
Even if all they do is gamble, they need to buy in first to start gambling. |
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ElectricMucus
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May 04, 2013, 07:14:49 PM |
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China was in on it on the way to 266. It's the gambling culture over there that's interested, buy low sell high... they are in it for the extra yuan.
Even if all they do is gamble, they need to buy in first to start gambling. They already have. |
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bitcon
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May 04, 2013, 07:14:54 PM |
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China was in on it on the way to 266. It's the gambling culture over there that's interested, buy low sell high... they are in it for the extra yuan.
Did you actually read the translation of the CCTV piece? It's not exactly what I would call "bullish".
In fact they even conclude that it's a bubble at the end.
i read this, and i call it bullish  cheers http://www.reddit.com/r/Bitcoin/comments/1dosc3/im_a_chinese_born_us_citizen_heres_what_i_thought/ |
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Frozenlock
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May 04, 2013, 07:15:00 PM |
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China was in on it on the way to 266. It's the gambling culture over there that's interested, buy low sell high... they are in it for the extra yuan.
Even if all they do is gamble, they need to buy in first to start gambling. No, they can short.  |
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Birdy
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May 04, 2013, 07:15:21 PM |
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China was in on it on the way to 266. It's the gambling culture over there that's interested, buy low sell high... they are in it for the extra yuan.
Even if all they do is gamble, they need to buy in first to start gambling. They already have. Why do they need to download the clients then? No, they can short. Wink Yes, but those sites need to buy Bitcoins,too. Okey they could bet without buying something, but that wouldn't influence the BTC price at all and they wouldn't need to download clients for that. |
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ElectricMucus
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May 04, 2013, 07:17:48 PM |
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China was in on it on the way to 266. It's the gambling culture over there that's interested, buy low sell high... they are in it for the extra yuan.
Even if all they do is gamble, they need to buy in first to start gambling. They already have. Why do they need to download the clients then? Seeing what this curiosity is all about. What this does is helping to establish a bottom, not make the prices rise. People who are downloading the client are far from buying coins. |
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Frozenlock
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May 04, 2013, 07:18:07 PM |
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Yes, but those sites need to buy Bitcoins,too.
As ElectricMucus said, they already have. |
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Frozenlock
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May 04, 2013, 07:18:50 PM |
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Why do they need to download the clients then?
To make me rageclose mine after busting my upload limit? |
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bitcon
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May 04, 2013, 07:21:26 PM |
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Yes, but those sites need to buy Bitcoins,too.
As ElectricMucus said, they already have. so everyone in China already knew about bitcoin before this CCTV event?  LOL. |
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ElectricMucus
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May 04, 2013, 07:22:10 PM |
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Yes, but those sites need to buy Bitcoins,too.
As ElectricMucus said, they already have. so everyone in China already knew about bitcoin before this CCTV event? LOL. Everyone that matters at this point. |
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bitcon
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May 04, 2013, 07:26:37 PM |
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Yes, but those sites need to buy Bitcoins,too.
As ElectricMucus said, they already have. so everyone in China already knew about bitcoin before this CCTV event? LOL. Everyone that matters at this point. proof? |
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bitleif
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I'm always grumpy in the morning.
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May 04, 2013, 07:28:16 PM |
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I suspect this is going to be another buy the rumor sell the news event.
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ElectricMucus
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May 04, 2013, 07:30:50 PM |
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Yes, but those sites need to buy Bitcoins,too.
As ElectricMucus said, they already have. so everyone in China already knew about bitcoin before this CCTV event? LOL. Everyone that matters at this point. proof? Not exactly. You can't prove this either way, but you can use common sense. They are reporting on Chinese already involved in BTC and their stories, plus a little bit of what goes on overseas. I suggest you also look at the client downloads and node statistics from way back. What also helps is look through the descriptions of the process a potential Bitcoin user goes through, you can also remember your own... As I said downloading the client is a far way from buying coins. |
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bitcon
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May 04, 2013, 07:37:50 PM |
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Yes, but those sites need to buy Bitcoins,too.
As ElectricMucus said, they already have. so everyone in China already knew about bitcoin before this CCTV event? LOL. Everyone that matters at this point. proof? Not exactly. You can't prove this either way, but you can use common sense. They are reporting on Chinese already involved in BTC and their stories, plus a little bit of what goes on overseas. I suggest you also look at the client downloads and node statistics from way back. What also helps is look through the descriptions of the process a potential Bitcoin user goes through, you can also remember your own... As I said downloading the client is a far way from buying coins. whats more relevant are the client DL stats from today that have it up from 10k to 30k and the top country being China with 42% of all downloads. http://sourceforge.net/projects/bitcoin/files/stats/timeline |
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