BITCOIN DUMP - CHINESE ARE OFFLOADING...

[Kakmakr]

He seems to be upto something! The 3 coins he sold to you maybe a "bait". Why wouldn't he not auction the coins online if he needed money? He isn't expecting someone will handover 150K in cash?

Yes, something is smelling fishy here. A lot of people use situations like this to exploit and scam people. They gain your trust by selling you cheap coins at bargain prices and once trust is gained, they encourage you to buy in bigger volumes. Once a big sale goes through they find a way to run with the money, before they hand over the coins. If this is a cash purchase, the thugs wait for you and they rob you. So you should always do this in a public place, where there are CCTV cameras and many law enforcement authorities around.

People are very creative and before you know it, you are robbed and out of pocket with thousands of dollars. If it is too good to be true, it most probably is.

These people might even have stolen these coins and are off-loading the stolen coins onto you. You will have zero evidence that you bought it off a guy from the street. ^hmmmmm^

[panju1]

I've picked up some extra BTC over the last couple of days, in my hometown there was a local seller on LBC - a chinese man. He said he had to dump all his coins within the next couple of days and offered me 45 BTC for $150k. I don't have 150k laying around, but i picked up 3 for 10k

he said his friends had hundreds of BTC if i was interested.

Is a monster dump on the way?

I wonder what is stopping him from dumping immediately at an international exchange. A dump might be on its way, but there is no reason why the price being transacted now should be very different from the market price of Bitcoin. What happens in the future depends on Chinese regulators.

[Seansky]

I wonder what is stopping him from dumping immediately at an international exchange. A dump might be on its way, but there is no reason why the price being transacted now should be very different from the market price of Bitcoin. What happens in the future depends on Chinese regulators.

If there was something stopping him to dump it immediately at an international exchange, maybe the friends of the one who offered cheap bitcoins to OP cannot really convert into fiat something that big from their international exchange because it has limits. That might be the case if it were true but it seems fishy how they are willing to sell bitcoins at a very low price if I were you OP I would just not buy again from him and instead I will dump the bitcoins I bought right away and rebuy at cheaper prices.

[squatter]

Is a monster dump on the way?

I'm looking at the charts and seeing quite the opposite. I am seeing loads of FUD combined with incredibly bearish sentiment. And all the while, bears simply can't push the price down. Rejected over and over. Accumulation.

We are setting up for another strong leg up. It might be the blow off top that the bears were hoping for. I suspect the current consolidation is garnering lots of short positions which will be squeezed at the top. Then we can finally have a real correction. $6000s-$7000s IMO.

[lonelypride]

this is just a mirage



Chinese people are sick of shares, debentures, and property
bitcoin is the new upcoming of  instruments

easy to store
easy to transfer
high liquidity
without raising tax alert

[Soros Shorts]

I'm not making shit up, you can see by monitoring a few chinese on LBC that they are dumping and smaller prices (australia and NZ) People have gone from 0 Trades to 100+ in a space of a few hours.

Could you show some of them? I have found just one https://localbitcoins.com/accounts/profile/nuooo/

Total trade volume for nuooo is 5-10 BTC ... hardly a big dumper. I doubt he is one of them (if they even exist).

The idea of Chinese dumping coins for foreign cash that they'd have difficulty to bring back into China does not make sense. And if they already live outside China they are not subject to these bans anyway.

[Baofeng]

Is a monster dump on the way?

I'm looking at the charts and seeing quite the opposite. I am seeing loads of FUD combined with incredibly bearish sentiment. And all the while, bears simply can't push the price down. Rejected over and over. Accumulation.

We are setting up for another strong leg up. It might be the blow off top that the bears were hoping for. I suspect the current consolidation is garnering lots of short positions which will be squeezed at the top. Then we can finally have a real correction. $6000s-$7000s IMO.

I think consolidation has started and trying to see if we can get to $4500 tops. The FUDs and this negative news coming from China should be over at least that way I see it. They already made their moved a couple of days ago. So I think they have complete stop the dump or just thinking of transferring their coins to other exchange outside of China. I'm with you with the $6000-$7000 prediction,. But I want to see the price hold on $5000 and see that the steam has been brewing before hitting $6000-$7000 in the coming months.

[Cerbera]

The Chinese are offloading. Great, time to back up the truck. Oh heck, I don't have a truck!

[iamTom123]

Another newbie account created to spread FUD. If there were any truth in this, you would have seen a massive drop in the price. Some people are just trying to push down the price, by spreading all these rumors. We have gone through this before a couple of years before and they still use bitcoins. The exchanges are still operating and the miners are still mining. The price has gone up, since these shills has started to post FUD. Nice try, but we are not falling for this. Hodl for life!

Yes, we should all be holding our share of Bitcoin as much as we can. We have already discounted the China Effect and i am hoping that soon any news coming from China should be treated as just non-news. Maybe it is really high time that we disconnect ourselves from the immense power the China government may exercise over us. As to the ban of exchanges, nothing is definite yet and all of this news are just rumors for now...and I am hoping that it stayed that way.

[alyssa85]

I've picked up some extra BTC over the last couple of days, in my hometown there was a local seller on LBC - a chinese man. He said he had to dump all his coins within the next couple of days and offered me 45 BTC for $150k. I don't have 150k laying around, but i picked up 3 for 10k

he said his friends had hundreds of BTC if i was interested.

Is a monster dump on the way?

I wonder what is stopping him from dumping immediately at an international exchange. A dump might be on its way, but there is no reason why the price being transacted now should be very different from the market price of Bitcoin. What happens in the future depends on Chinese regulators.

I think the Chinese exchanges have been enforcing stringent KYCs since February (when the Chinese regulators closed them for two months to investigate them).

And I don't think they can sell them on international exchanges because they have no way to open bank accounts outside the country to withdraw the fiat to.

So it's possible that this man is selling in person to avoid any tracking by the authorities. Things are different in China than they are in the west (no fair trials, arbitrary kidnappings and arrests and so on). So a person has an incentive to keep a low profile.

[squatter]

The Chinese are offloading. Great, time to back up the truck. Oh heck, I don't have a truck!

This time, it's westerners, not the Chinese, who are dumping. The west reacted to today's FUD much more strongly -- I wonder why? Is Jamie Dimon really that effective?!

I'm still preparing to back the truck up, but I'm a bit more cautious about my bullishness than I was yesterday. On one hand, bears can't seem to break down past $4,000. On the other hand, the FUD is never-ending and maybe this sideways will end with a crash.

Either way, I'm holding.

[cocoinin]

Investors fix profit, that's OK. No FUD, guys! Hodl.

[investeerder]

Another newbie account created to spread FUD. If there were any truth in this, you would have seen a massive drop in the price. Some people are just trying to push down the price, by spreading all these rumors. We have gone through this before a couple of years before and they still use bitcoins. The exchanges are still operating and the miners are still mining. The price has gone up, since these shills has started to post FUD. Nice try, but we are not falling for this. Hodl for life!

Yes, we should all be holding our share of Bitcoin as much as we can. We have already discounted the China Effect and i am hoping that soon any news coming from China should be treated as just non-news. Maybe it is really high time that we disconnect ourselves from the immense power the China government may exercise over us. As to the ban of exchanges, nothing is definite yet and all of this news are just rumors for now...and I am hoping that it stayed that way.

Holding is a great things we need to do here but if you have some extra balance to buy some bitcoins at this downfall rate then you should do its since by the time chinese fuds will fadeaway then price of bitcoins will surely fly again. Let's keep ourselves to not get affected by the fuds since in the end of the day dumpers will be the losers of this psycho games on fud spreading game.

[vanessa98]

that person op is talking about probably needs liquidity which is why he did that if that was a real scenario..

As for the market reacting its just another day at the park playing ball where everyone loves the game.

Its a matter of who owns more at the end of the day by getting there quicker imo.

[john2231]

I think op better to share the contact of the man who are selling bitcoin for cheap price i'll be willing to buy to him if ever i contact and verify the price.. maybe i will buy lots of bitcoin to him because its really cheap and i can sell them right now if ever so that i can make profit and buy again in that man..
But since the post from newbie i think this is  1% true and 99% lie..
Except if he can prove that this is real someone are selling bitcoin for cheap price..

[Nivir]

I think op better to share the contact of the man who are selling bitcoin for cheap price i'll be willing to buy to him if ever i contact and verify the price.. maybe i will buy lots of bitcoin to him because its really cheap and i can sell them right now if ever so that i can make profit and buy again in that man..
But since the post from newbie i think this is  1% true and 99% lie..
Except if he can prove that this is real someone are selling bitcoin for cheap price..

I think its obvious, coming from a newbie account. As usual FUDers trying to sell us out. But if it is true and you could provide us a proof then good for you. I'd prefer holding my bitcoin rather than selling them.

[alyssa85]

I think op better to share the contact of the man who are selling bitcoin for cheap price i'll be willing to buy to him if ever i contact and verify the price.. maybe i will buy lots of bitcoin to him because its really cheap and i can sell them right now if ever so that i can make profit and buy again in that man..
But since the post from newbie i think this is  1% true and 99% lie..
Except if he can prove that this is real someone are selling bitcoin for cheap price..

I think its obvious, coming from a newbie account. As usual FUDers trying to sell us out. But if it is true and you could provide us a proof then good for you. I'd prefer holding my bitcoin rather than selling them.

It might not be FUD. When OP opened this thread, the price was at about $4300. It's now about £4062. It's clinging to the $4000 support by it's fingertips

[shine1123]

I've picked up some extra BTC over the last couple of days, in my hometown there was a local seller on LBC - a chinese man. He said he had to dump all his coins within the next couple of days and offered me 45 BTC for $150k. I don't have 150k laying around, but i picked up 3 for 10k

he said his friends had hundreds of BTC if i was interested.

Is a monster dump on the way?

If your story is real, maybe its because the china government ban ICOs and ban local exchanges so that chinese man sell all his bitcoins and his friends too, i don't know though but it's obvious and your account is a newbie which is hard to believe. Like other people here, Show proofs or it didn't happen.

[lilRoy07]

gg btc .. why would i lie.

[coinzoid]

Turkish exchanges didn't show an immediate act against such news from China. I was expecting a huge drop but apparently most of holders don't wanna sell.