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September 13, 2017, 04:21:25 PM
 #21

The reason why people in china have so much bitcoin is because they hate their own currency and how its controlled.  If I lived in china, and government shut down the exchanges it would make me want bitcoin even more than ever because its actually hurt the government enough for them to bring in regulation or bans.  It also makes it a rarer commodity since you wouldn't be able to get it very easily in china.

I suppose the panic here though is if china are banning it, then where will ban it next?  It would be a massive shame for bitcoin to be shutdown by the very establishment that it was created to defend against.  The thing thats cool is, at least we have their attention now Wink

As for me, I wont selling any of my bitcoin!

The problem with that is, say you were Chinese and had bitcoin. You now can't trade it on Chinese exchanges for yuan, once they have been closed in three months time. And thanks to the Great Firewall you can't access the western exchanges and sell for dollars (and in any case can't open a western bank account to pay those dollars into). And you are scared that your govt will prosecute anyone caught with bitcoin.

You have two choices - sell now while you can (and the price on the chinese exchanges is lower than on the western exchanges, indicating this is what people are doing). Choice #2 is to hold and take a trip to Macau and sell the bitcoins in person to someone from local bitcoins, to cash out later. Most seem to be doing the former.

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September 13, 2017, 04:32:56 PM
 #22

The problem with that is, say you were Chinese and had bitcoin. You now can't trade it on Chinese exchanges for yuan, once they have been closed in three months time. And thanks to the Great Firewall you can't access the western exchanges and sell for dollars (and in any case can't open a western bank account to pay those dollars into). And you are scared that your govt will prosecute anyone caught with bitcoin.

You have two choices - sell now while you can (and the price on the chinese exchanges is lower than on the western exchanges, indicating this is what people are doing). Choice #2 is to hold and take a trip to Macau and sell the bitcoins in person to someone from local bitcoins, to cash out later. Most seem to be doing the former.



Except there is no confirmation that the chinese government have banned it, there's only rumours. The chinese are right to panic, tough, as they live in a dictatorship.
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September 13, 2017, 04:58:51 PM
 #23

The problem with that is, say you were Chinese and had bitcoin. You now can't trade it on Chinese exchanges for yuan, once they have been closed in three months time. And thanks to the Great Firewall you can't access the western exchanges and sell for dollars (and in any case can't open a western bank account to pay those dollars into). And you are scared that your govt will prosecute anyone caught with bitcoin.

You have two choices - sell now while you can (and the price on the chinese exchanges is lower than on the western exchanges, indicating this is what people are doing). Choice #2 is to hold and take a trip to Macau and sell the bitcoins in person to someone from local bitcoins, to cash out later. Most seem to be doing the former.

Except there is no confirmation that the chinese government have banned it, there's only rumours. The chinese are right to panic, tough, as they live in a dictatorship.
In fact, the rumors about China banned crypto market not truth, just by the FUD of China banned ICO market makes the rumors hype more. Therefore, not only Chinese traders  are panic seller, almost speculators also panic and they want to sell their Bitcoin soon.

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September 13, 2017, 05:05:16 PM
 #24

The problem with that is, say you were Chinese and had bitcoin. You now can't trade it on Chinese exchanges for yuan, once they have been closed in three months time. And thanks to the Great Firewall you can't access the western exchanges and sell for dollars (and in any case can't open a western bank account to pay those dollars into). And you are scared that your govt will prosecute anyone caught with bitcoin.

You have two choices - sell now while you can (and the price on the chinese exchanges is lower than on the western exchanges, indicating this is what people are doing). Choice #2 is to hold and take a trip to Macau and sell the bitcoins in person to someone from local bitcoins, to cash out later. Most seem to be doing the former.



Except there is no confirmation that the chinese government have banned it, there's only rumours. The chinese are right to panic, tough, as they live in a dictatorship.
I think it would be better if we calmed down on all these issues, bitcoin prices fell sharply today, but I hope this situation will end soon.



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September 13, 2017, 05:07:05 PM
 #25

The downward spiral started with the Chinese banning ICO's. Then some people saw this statement pushed Bitcoin's

price down, so they fabricated some FUD to push it down even further. {They said, Bitcoin is banned in China} ...So as

usual people just ran with this story and we see massive "panic" dumps. People are handing cheap coins to people who

used their fear tactics to manipulate others to sell.  Roll Eyes

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September 13, 2017, 05:34:41 PM
 #26

Bitcoin is down many more. its now 3800 usd. Is the reason for ban bitcoin on china?
how many decrease can be of bitcoin?
it can down more?
anyone can tell thw news
up and down is fair thing in bitcoin...dont be panic for this situation because decrease or down bitcoin its good way to buying bitcoin now and tomorrow will be up again Smiley



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September 13, 2017, 07:20:08 PM
 #27

The reason why people in china have so much bitcoin is because they hate their own currency and how its controlled.  If I lived in china, and government shut down the exchanges it would make me want bitcoin even more than ever because its actually hurt the government enough for them to bring in regulation or bans.  It also makes it a rarer commodity since you wouldn't be able to get it very easily in china.

I suppose the panic here though is if china are banning it, then where will ban it next?  It would be a massive shame for bitcoin to be shutdown by the very establishment that it was created to defend against.  The thing thats cool is, at least we have their attention now Wink

As for me, I wont selling any of my bitcoin!

The problem with that is, say you were Chinese and had bitcoin. You now can't trade it on Chinese exchanges for yuan, once they have been closed in three months time. And thanks to the Great Firewall you can't access the western exchanges and sell for dollars (and in any case can't open a western bank account to pay those dollars into). And you are scared that your govt will prosecute anyone caught with bitcoin.

You have two choices - sell now while you can (and the price on the chinese exchanges is lower than on the western exchanges, indicating this is what people are doing). Choice #2 is to hold and take a trip to Macau and sell the bitcoins in person to someone from local bitcoins, to cash out later. Most seem to be doing the former.



what if.... there are tons of chinese shops here, like 4-5 for every average town and they're once a year going to China and I've seen them video chatting with their family or friends. So, can we maybe use them to get to other people that might hold bitcoin, to use them as a wallet transport and us here as an exchange? i mean, they can surely send a  wallet address like that with no problem.
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September 14, 2017, 02:33:32 AM
 #28

I think it's pretty obvious that the recent news about China is behind the drop in value.
It's actually a great time to buy if we wait out the current events, I could definitely see the price shoot up again in a couple of days.

If it goes even lower than this, I'd be a little bit worried but not too much.

I guess it because about the crowdfunding banned in China, that is why bitcoin's price is affected by this event. A lot of people already sell their bitcoins because of this huge price drop, but I'm just going to hold my bitcoin and wait for the next PUMP to convert some.

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September 14, 2017, 04:09:59 AM
 #29

Bitcoin is down many more. its now 3800 usd. Is the reason for ban bitcoin on china?
how many decrease can be of bitcoin?
it can down more?
anyone can tell thw news

Well this seems like the price is still floating around the $3.8k mark.

I'm not sure what is the main reason behind this, since none of the exchanges are shut down in China still(i could be wrong but didn't hear any news whatsoever). IMO it's just people panicking over the situation, causing a panic dump.

The price could potentially go down to $3.5k or even less this month but should recover to $4k+.














 

 

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September 14, 2017, 04:20:09 AM
 #30

The ongoing price fluctuations is purely uncontrolled and none has found the reality behind the ongoing drop. The price probably increases soon when certain drop point is reached. This will make the price start pump once again and cross the long expected price barrier of $5000.

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September 14, 2017, 04:55:29 AM
 #31

i think this is because ico's been banned in china. and also there's a lot of people who actually panic selling because bitcoin keep decreasing the price . and they will regret it later when bitcoin price pump again. i don't sell on alow price i sell on a high price and then buy bitcoin on a low price. don't panic selling because bitcoin will definitely go bubble again.

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September 14, 2017, 06:07:58 AM
 #32

I think it's pretty obvious that the recent news about China is behind the drop in value.
It's actually a great time to buy if we wait out the current events, I could definitely see the price shoot up again in a couple of days.

If it goes even lower than this, I'd be a little bit worried but not too much.

I guess it because about the crowdfunding banned in China, that is why bitcoin's price is affected by this event. A lot of people already sell their bitcoins because of this huge price drop, but I'm just going to hold my bitcoin and wait for the next PUMP to convert some.

That is one of the major reason why we suffered from a big fall right now but hopefully the price of bitcoins will recover if there's another great events will counter it nor the trust of the people will comeback to stake again with bitcoins. But for now we shouldn't get panic since everything is still under control.

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September 14, 2017, 06:14:40 AM
 #33

Btc is down, but don't make this is our spirit down to earning profits. I'm sure this decline is only temporary, will not go down and continues to $3000. Btc price will rising again after this, i'm sure it will be.

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September 14, 2017, 06:24:06 AM
 #34

Some of person here say the reason of decrease bitcoin is China , so what the future of bitcoin if countries joined to China

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September 14, 2017, 07:26:28 AM
 #35

Btc is down firstly because of news or rumors from China. Those who speculate then saw the time to sell their btc and take profit of the August rise. They'll buy again for cheaper and the btc will go up again. That's how it works. Not time to sell now imo, I just hold my btc.

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September 14, 2017, 07:31:38 AM
 #36

Some of person here say the reason of decrease bitcoin is China , so what the future of bitcoin if countries joined to China
If countries began to join China in their ban, and if it turns out the banning of btc there is true and other countries follow, we will probably see the biggest dump ever we would see in bitcoin history, the dumping from 3800+$ to somewhere between 500-600$ probably but it wont happen right away maybe as some countries like Japan are enjoying the benefits of using bitcoin. I hope they wont join China soon because if that happens, we might see a dump crazier than mt. Gox's period and even crazier than my prediction because there is a probability that price might go way beyond 400$ below if that happens.

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September 14, 2017, 08:30:50 AM
 #37

Some of person here say the reason of decrease bitcoin is China , so what the future of bitcoin if countries joined to China
If countries began to join China in their ban, and if it turns out the banning of btc there is true and other countries follow, we will probably see the biggest dump ever we would see in bitcoin history, the dumping from 3800+$ to somewhere between 500-600$ probably but it wont happen right away maybe as some countries like Japan are enjoying the benefits of using bitcoin. I hope they wont join China soon because if that happens, we might see a dump crazier than mt. Gox's period and even crazier than my prediction because there is a probability that price might go way beyond 400$ below if that happens.

I don't think that countries will join China if they are really planning a full scale war against bitcoin. Other nation haven't recognized or embrace bitcoin yet so its gonna be just China against bitcoin. But It looks like that China is not totally banning bitcoin per se, and they are not closing exchanges, they are rather tightening the screws once again. So this panic has no basis, it just articles are spun, put out of context to looks like China is clamping down local exchanges. But it effects is irreversible now, price going down everyday and has settled down around $3800-$3900. When everything is calm and settled down, we may see the price picking up once again and maybe touch $5000 in the next couple of months.

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September 14, 2017, 09:25:46 AM
 #38

Bitcoin is down many more. its now 3800 usd. Is the reason for ban bitcoin on china?
how many decrease can be of bitcoin?
it can down more?
anyone can tell thw news

Seems to be quite some support at the $3800 level.

I don't think that we have sustained a price that was any lower than the $3800 level right now. Currently around $3810 on coinmarketcap, and somewhat higher on western exchanges such as bitfinex. But still a lot of sideways movement with no clear direction.

We may see the floor adjust to $3700, but i think that we may see a recovery fairly soon to $4k+. Should be a good time to buy the dip.

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September 14, 2017, 09:54:43 AM
 #39

Bitcoin is down many more. its now 3800 usd. Is the reason for ban bitcoin on china?
how many decrease can be of bitcoin?
it can down more?
anyone can tell thw news

It's much more than just China.

Mr. Jamie Dimon has yet again been talking about how crap bitcoin is, and how it has no future(surprise surprise, he said the same thing about bitcoin back when it was dirt cheap at $200.) Somehow people are still taking him seriously.

I think this, plus the rumours from China is what is negatively affecting the price right now. Price could definitely go down more, but i don't think it'll go down to less than $3.5k per coin at the very worst this month. Should see a recovery soon, as well. Potentially to $4.5k+.


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September 14, 2017, 10:55:20 AM
 #40

I did not expect a bitcoin price reduction to be so fast. After everything went well all this time, this is unexpected because bitcoin prices are well below 4K $. If it all happens because of the decision of china then I will be very upset, even all the people in this world will also think the same. Bitcoin falls and slumps is an adverse event. Including me that keeps a lot of bitcoin. We must take immediate action to avoid further losses.

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