BTCChina offline

[slothbag]

So BTCChina, the market leader who has been driving the price higher and higher is now offline.

Either..

a) Surge in demand killed their servers
b) Decided to call an end to the pump and dump

[jfrenchy]

they are up, just experiencing troubles with all the traffic they are probably getting right now

try reloading

[StarenseN]

Heu, no.

[Xer0]

https, dude!

[TheJuice]

My account on btcchina was frozen for 3 hours "for my protection." Interesting.

[slothbag]

I'm still getting a TCP error notice from Incapsula..  Although I see bitcoinity is still showing trades from btcchina??

So the Chinese people who decided after 3 months to go all-in on Bitcoin bidding the price up to $300 per bitcoin over the price on the more popular exchanges have all of a sudden decided its not worth the premium anymore.  And the exchange that rocketed to number one exchange based volume which ended up overtaking the previous market leader Mtgox by 3 times..

I mean, the western world has been wrapping their heads around bitcoin for 4 years and is still a pretty small number of people who believe in it.. The Chinese took 3 months to overtake?

In another thread, I got like 2 relatively new accounts vouching that they use BTCChina..

Sorry, something smells fishy.

[rampantparanoia]

Sorry, something smells fishy.

Don't mind it. Its just Chinese food.

[beaconpcguru]

Interesting to note how quickly greed makes people willing to trust a communist government.  "I'll just send my bitcoins to China for a quick gain in the market, trade all they want and then mysteriously can't get their funds out."  I am willing to accept I'm paranoid but I'll skip that honeypot in favor of peace of mind.

[slothbag]

Interesting to note how quickly greed makes people willing to trust a communist government.  "I'll just send my bitcoins to China for a quick gain in the market, trade all they want and then mysteriously can't get their funds out."  I am willing to accept I'm paranoid but I'll skip that honeypot in favor of peace of mind.

You could be right, it could be a honeypot though that thought had not crossed my mind..

I don't trust the volumes or prices being reported from that exchange.. there is no proof that there is anyone in China buying and its not just the exchange operator pumping up the price hoping other exchanges follow the price up..

[mrjeff]

https://vip.btcchina.com works for me

[slothbag]

https://vip.btcchina.com works for me

Thanks mrjeff, that link is working for me.  That's a good start.

[beaconpcguru]

Its all speculation I'm more of the mind, or paranoia, that a government that loves only one thing more than money and power which is control now has the supposedly leading exchange.  They don't even have to try to tell people its illegal if they wanted, supposedly all the coins are being sent to them anyway and any outsider who sells there gets an instant minimum 20% or so premium just for doing so, all with free trading!  If it sounds to good to be true... well you know, communists love bitcoin!

[superduh]

HTTPS solves all connection issues