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Author Topic: China is buying - Something's coming up  (Read 1170 times)
exstasie
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September 17, 2017, 11:36:24 PM
 #21

The inability to buy and sell Bitcoin in a convenient manner is brewing, that's what.

It looks like Chinese folks are already planning their post ban trading options and it's going to be a lot more ramshackle than their current choices. They may as well either stock up or get rid beforehand. There's going to be a lot more friction once it's in place.

Yeah, it sounds like Telegram OTC trading is one of the most likely options, given what I am hearing. That's crazy given what Chinese traders are used to. My friend in Shanghai said fiat withdrawals in and out of Okcoin took 10-15 minutes. Going from liquid order book exchanges to LocalBitcoins-style trading on Telegram? What a drag. I bet that, in time, the authorities will then ban Telegram.

Surely the Chinese government doesn't think they can stop people from trading cryptocurrency entirely?! What percentage of the population uses Facebook despite the blocked access, for instance?

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September 18, 2017, 02:40:26 AM
 #22

The inability to buy and sell Bitcoin in a convenient manner is brewing, that's what.

It looks like Chinese folks are already planning their post ban trading options and it's going to be a lot more ramshackle than their current choices. They may as well either stock up or get rid beforehand. There's going to be a lot more friction once it's in place.

Yeah, it sounds like Telegram OTC trading is one of the most likely options, given what I am hearing. That's crazy given what Chinese traders are used to. My friend in Shanghai said fiat withdrawals in and out of Okcoin took 10-15 minutes. Going from liquid order book exchanges to LocalBitcoins-style trading on Telegram? What a drag. I bet that, in time, the authorities will then ban Telegram.

Surely the Chinese government doesn't think they can stop people from trading cryptocurrency entirely?! What percentage of the population uses Facebook despite the blocked access, for instance?

Yes I agree people in china has to become freely despite of the resitance of the government, and I don't think exchanges can't be stopped now. I am certain people will eventually invest and will still trade their holding as there were many ways to access the net anonymously. So I believed another price surge will happened going october this year and hopefully we are at $5000 soon and success will come to all of us here.

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DrGuns4Hands
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September 18, 2017, 04:35:50 AM
 #23

I don't get it. china declared that they're going to banned exchanges of coins from their country that's why people do panic selling that's why bitcoin had a big dump this past few days. and now they're buying ? hmm. I smell something from this scenario. im lucky because i didn't sell out my coins when bitcoin had a big dump under $3000.

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September 18, 2017, 06:10:38 AM
 #24

That's what everyone is doing right now waiting for price to drop but the opposite happens now if they buy at higher orice it will take more time to get profit so best solution you have a voice which people follow tell some shit about bitcoin or ban exchanges price crashes enter the market enjoy the profit. The best part is suddenly government's are so interested in bitcoin

exstasie
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September 18, 2017, 06:58:38 AM
 #25

The inability to buy and sell Bitcoin in a convenient manner is brewing, that's what.

It looks like Chinese folks are already planning their post ban trading options and it's going to be a lot more ramshackle than their current choices. They may as well either stock up or get rid beforehand. There's going to be a lot more friction once it's in place.

Yeah, it sounds like Telegram OTC trading is one of the most likely options, given what I am hearing. That's crazy given what Chinese traders are used to. My friend in Shanghai said fiat withdrawals in and out of Okcoin took 10-15 minutes. Going from liquid order book exchanges to LocalBitcoins-style trading on Telegram? What a drag. I bet that, in time, the authorities will then ban Telegram.

Surely the Chinese government doesn't think they can stop people from trading cryptocurrency entirely?! What percentage of the population uses Facebook despite the blocked access, for instance?

Yes I agree people in china has to become freely despite of the resitance of the government, and I don't think exchanges can't be stopped now. I am certain people will eventually invest and will still trade their holding as there were many ways to access the net anonymously. So I believed another price surge will happened going october this year and hopefully we are at $5000 soon and success will come to all of us here.

At first, I thought that the government was just rolling out licensing and regulation. But now there are rumors that they want to block the entire P2P network within China, and promote the use of a blockchain currency issued by the Bank of China. I wonder how many Chinese people would really fall for such a bait-and-switch. Cheesy

I don't get it. china declared that they're going to banned exchanges of coins from their country that's why people do panic selling that's why bitcoin had a big dump this past few days. and now they're buying ? hmm. I smell something from this scenario. im lucky because i didn't sell out my coins when bitcoin had a big dump under $3000.

One issue here is that it's going to be considerably more difficult for traders to buy/sell BTC. So those that want to use BTC to move to overseas exchanges need to do so sooner than later, before the exchanges shut down.

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September 18, 2017, 07:30:01 AM
 #26

I don't get it. china declared that they're going to banned exchanges of coins from their country that's why people do panic selling that's why bitcoin had a big dump this past few days. and now they're buying ? hmm. I smell something from this scenario. im lucky because i didn't sell out my coins when bitcoin had a big dump under $3000.

The initial reaction was of course panic selling, but if you give people one they will reflect on their positions. While exchanges may be shut, buying and selling Bitcoin over the counter is allowed. If I was in China, this might be an opportunity to build a nice crypto portfolio.

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September 18, 2017, 09:03:20 AM
 #27

I don't get it. china declared that they're going to banned exchanges of coins from their country that's why people do panic selling that's why bitcoin had a big dump this past few days. and now they're buying ? hmm. I smell something from this scenario. im lucky because i didn't sell out my coins when bitcoin had a big dump under $3000.

The initial reaction was of course panic selling, but if you give people one they will reflect on their positions. While exchanges may be shut, buying and selling Bitcoin over the counter is allowed. If I was in China, this might be an opportunity to build a nice crypto portfolio.

I also think that Chinese traders will now buy up coins and take them out for purses for long-term storage. Or for trading on other exchanges

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September 18, 2017, 09:07:18 AM
 #28

I don't get it. china declared that they're going to banned exchanges of coins from their country that's why people do panic selling that's why bitcoin had a big dump this past few days. and now they're buying ? hmm. I smell something from this scenario. im lucky because i didn't sell out my coins when bitcoin had a big dump under $3000.

The initial reaction was of course panic selling, but if you give people one they will reflect on their positions. While exchanges may be shut, buying and selling Bitcoin over the counter is allowed. If I was in China, this might be an opportunity to build a nice crypto portfolio.

But what would you do with the portfolio you built up? The Chinese can't access the western exchanges thanks to the Great Firewall. So to sell they'd need to travel in person to Macau or Hong Kong and find a local bitcoin dealer to sell to. And all that travelling, hotel costs etc adds cost to the sale.

I think they'll get out of crypto and find something else to put their money in.

jerowacik
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September 18, 2017, 09:18:29 AM
 #29

I don't get it. china declared that they're going to banned exchanges of coins from their country that's why people do panic selling that's why bitcoin had a big dump this past few days. and now they're buying ? hmm. I smell something from this scenario. im lucky because i didn't sell out my coins when bitcoin had a big dump under $3000.
this does look quite strange. like there is an odd scenario. China has previously done bitcoin sales thoroughly, but now when we see the volume in the exchange china seen there is a significant increase. I will not take a headache, the most important bitcoin price increases and I can still earn from bitcoin.
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September 18, 2017, 09:22:48 AM
 #30

I don't get it. china declared that they're going to banned exchanges of coins from their country that's why people do panic selling that's why bitcoin had a big dump this past few days. and now they're buying ? hmm. I smell something from this scenario. im lucky because i didn't sell out my coins when bitcoin had a big dump under $3000.

The initial reaction was of course panic selling, but if you give people one they will reflect on their positions. While exchanges may be shut, buying and selling Bitcoin over the counter is allowed. If I was in China, this might be an opportunity to build a nice crypto portfolio.

I also think that Chinese traders will now buy up coins and take them out for purses for long-term storage. Or for trading on other exchanges

I do not buy this point when Chinese government has clearly started a ban on ICO and asking the exchanges to shut this means they are not in a favor of bitcoin. And now if people does buy bitcoin though there is no official ban as of now in China for people to buy coins but sooner or later I personally think this might come up so people would be cautious and will not buy coins.

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