Bitcoin Forum
July 23, 2019, 07:15:18 PM *
News: Latest Bitcoin Core release: 0.18.0 [Torrent] (New!)
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: What will happen when Chinese exchange will resume withdrawal ?  (Read 304 times)
fabrizeo
Newbie
*
Offline Offline

Activity: 43
Merit: 0


View Profile
June 12, 2017, 05:12:10 AM
 #1

Hello,

Currently, i checked all the Chinese exchange have blocked their withdrawal, you can put money it but can't take fiat out.

My assumption is that many people in China are just holding on it waiting for the withdrawal to resume in order to cash out...

Do you think this could have a negative effect on the price?

1563909318
Hero Member
*
Offline Offline

Posts: 1563909318

View Profile Personal Message (Offline)

Ignore
1563909318
Reply with quote  #2

1563909318
Report to moderator
1563909318
Hero Member
*
Offline Offline

Posts: 1563909318

View Profile Personal Message (Offline)

Ignore
1563909318
Reply with quote  #2

1563909318
Report to moderator
"In a nutshell, the network works like a distributed timestamp server, stamping the first transaction to spend a coin. It takes advantage of the nature of information being easy to spread but hard to stifle." -- Satoshi
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1563909318
Hero Member
*
Offline Offline

Posts: 1563909318

View Profile Personal Message (Offline)

Ignore
1563909318
Reply with quote  #2

1563909318
Report to moderator
Amph
Legendary
*
Offline Offline

Activity: 2226
Merit: 1003



View Profile
June 12, 2017, 05:21:56 AM
 #2

no because if they are ready to cash out they shoudl dump at what they think it will be the correct value to cash out, which they cannot predict in any way

so when the withdrawal will be resumed, it could be that it's not the right time to sell and therefore they would keep buying, i can't see the correlation really...

also japan is leading the volume now, china is no longer the big factor here
Yuuto
Hero Member
*****
Offline Offline

Activity: 644
Merit: 501



View Profile
June 12, 2017, 05:33:46 AM
 #3

Hello,

Currently, i checked all the Chinese exchange have blocked their withdrawal, you can put money it but can't take fiat out.

My assumption is that many people in China are just holding on it waiting for the withdrawal to resume in order to cash out...

Do you think this could have a negative effect on the price?



I'm pretty sure that it's not the fiat withdrawals that are blocked but rather the bitcoin withdrawals.

I agree with Amph, I don't see any sort of correlation between blocked and unblocked. Unblocked is always better though because people can trade freely again(even though most people already moved their funds to p2p trading).

Chinese exchange volumes are pretty much dead as well, I really don't think that unblocking it will have some sort of major negative effect on bitcoin price at all. Sure they can dump it, but there is really no incentive for them to as the bitcoins they hold came from paying a premium in the first place.
freebutcaged
Hero Member
*****
Offline Offline

Activity: 588
Merit: 541


View Profile
June 12, 2017, 07:36:21 AM
 #4

Hello,

Currently, i checked all the Chinese exchange have blocked their withdrawal, you can put money it but can't take fiat out.

My assumption is that many people in China are just holding on it waiting for the withdrawal to resume in order to cash out...

Do you think this could have a negative effect on the price?



I'm pretty sure that it's not the fiat withdrawals that are blocked but rather the bitcoin withdrawals.

I agree with Amph, I don't see any sort of correlation between blocked and unblocked. Unblocked is always better though because people can trade freely again(even though most people already moved their funds to p2p trading).

Chinese exchange volumes are pretty much dead as well, I really don't think that unblocking it will have some sort of major negative effect on bitcoin price at all. Sure they can dump it, but there is really no incentive for them to as the bitcoins they hold came from paying a premium in the first place.
Bullshit mate, if they block Bitcoin withdrawal then time to forget such exchanges for good, best thing about Bitcoin nothing and no one could block

Your transactions other than all the miners combined, if BTC were blocked then people would've dumped them for fiat since they were unable to take

out any coin so they would've wanted fiat instead, don't give misinformation if you have no idea what is going on. OP what do think, do you really

Think Chinese are unable to move their coins into other exchanges and then cash out there? even if they dump who do you think will buy from them?

Such a dumping is a blessing IMO and opportunity for others if haven't got the chance so far to buy some cheap coins.
magmar
Sr. Member
****
Offline Offline

Activity: 476
Merit: 250



View Profile
June 12, 2017, 07:45:14 AM
 #5

Hello,

Currently, i checked all the Chinese exchange have blocked their withdrawal, you can put money it but can't take fiat out.

My assumption is that many people in China are just holding on it waiting for the withdrawal to resume in order to cash out...

Do you think this could have a negative effect on the price?


Possibly but not certainly because as bitcoin pumps and they can withdraw it, they make bemefit of it. Another reason, bitcoin gets stronger in other countries thus China's influence in bitcoin became weaker than last months which cause volitality when there is an issue there.
fitty
Hero Member
*****
Offline Offline

Activity: 714
Merit: 501


★Bitvest.io★ Play Plinko or Invest!


View Profile
June 12, 2017, 07:49:47 AM
 #6

I think yes and they do this for a reason ithink.We all know that china has the biggest numbers of bitcoins users so maybe satoshi nakamoto is around there who maybe lead or instruct to stop withdrawal for bitcoins price to easily pump because huge withdrawal action may bring bitcoins price to get down



.
.BIG WINNER!.
[15.00000000 BTC]


▄████████████████████▄
██████████████████████
██████████▀▀██████████
█████████░░░░█████████
██████████▄▄██████████
███████▀▀████▀▀███████
██████░░░░██░░░░██████
███████▄▄████▄▄███████
████▀▀████▀▀████▀▀████
███░░░░██░░░░██░░░░███
████▄▄████▄▄████▄▄████
██████████████████████

▀████████████████████▀
▄████████████████████▄
██████████████████████
█████▀▀█▀▀▀▀▀▀██▀▀████
█████░░░░░░░░░░░░░████
█████░░░░░░░░░░░░▄████
█████░░▄███▄░░░░██████
█████▄▄███▀░░░░▄██████
█████████░░░░░░███████
████████░░░░░░░███████
███████░░░░░░░░███████
███████▄▄▄▄▄▄▄▄███████

██████████████████████
▀████████████████████▀
▄████████████████████▄
███████████████▀▀▀▀▀▀▀
███████████▀▀▄▄█░░░░░█
█████████▀░░█████░░░░█
███████▀░░░░░████▀░░░▀
██████░░░░░░░░▀▄▄█████
█████░▄░░░░░▄██████▀▀█
████░████▄░███████░░░░
███░█████░█████████░░█
███░░░▀█░██████████░░█
███░░░░░░████▀▀██▀░░░░
███░░░░░░███░░░░░░░░░░

██░▄▄▄▄░████▄▄██▄░░░░
████████████▀▀▀▀▀▀▀██
█████████████░█▀▀▀█░███
██████████▀▀░█▀░░░▀█░▀▀
███████▀░▄▄█░█░░░░░█░█▄
████▀░▄▄████░▀█░░░█▀░██
███░▄████▀▀░▄░▀█░█▀░▄░▀
█▀░███▀▀▀░░███░▀█▀░███░
▀░███▀░░░░░████▄░▄████░
░███▀░░░░░░░█████████░░
░███░░░░░░░░░███████░░░
███▀░██░░░░░░▀░▄▄▄░▀░░░
███░██████▄▄░▄█████▄░▄▄

██░████████░███████░█
▄████████████████████▄
████████▀▀░░░▀▀███████
███▀▀░░░░░▄▄▄░░░░▀▀▀██
██░▀▀▄▄░░░▀▀▀░░░▄▄▀▀██
██░▄▄░░▀▀▄▄░▄▄▀▀░░░░██
██░▀▀░░░░░░█░░░░░██░██
██░░░▄▄░░░░█░██░░░░░██
██░░░▀▀░░░░█░░░░░░░░██
██░░░░░▄▄░░█░░░░░██░██
██▄░░░░▀▀░░█░██░░░░░██
█████▄▄░░░░█░░░░▄▄████
█████████▄▄█▄▄████████

▀████████████████████▀




Rainbot
Daily Quests
Faucet
Mometaskers
Hero Member
*****
Offline Offline

Activity: 1134
Merit: 554



View Profile
June 12, 2017, 08:48:33 AM
 #7

The fear before was that they'd all immediately dump their bitcoins once the government lifts the restriction on withdrawals. With Japan and Australia starting to recognize bitcoin as a means of payment though, that might not happen, or if it does, it might be just minimal.

Let's remember the crackdown was because of capital flight. Those who had money in there just for investment might opt to just keep their bitcoins in and wait for further hikes. Of course, I'm still not discounting the possibility that there might be groups there that might decide to dump everything in an attempt to affect the price.

<|°_°|>
susila_bai
Hero Member
*****
Offline Offline

Activity: 1204
Merit: 524


View Profile
June 12, 2017, 09:04:10 AM
 #8

If i am not wrong chinese exchange have resumed the withdrawal and that was the effect of the last dump and now their is no fear and this boom price of bitcoin is good and very soon we can see more high price of bitcoin. Apart from that their are also good time for some good altcoin as they are also going to reach high price
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!