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accord01
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December 19, 2013, 02:01:40 PM |
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No it was not. But even if it was a sham, bitcoin has been oversold badly in the last several months and crash is imminent.
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colinistheman (OP)
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December 19, 2013, 02:03:14 PM |
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No it was not. But even if it was a sham, bitcoin has been oversold badly in the last several months and crash is imminent.
Ok that's good that at least the news is accurate then. I would hate to think we all just got fooled. And yes, I agree the price is way over what it should be.
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btcrich
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December 19, 2013, 05:05:02 PM |
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No it was not. But even if it was a sham, bitcoin has been oversold badly in the last several months and crash is imminent.
I feel the same way. We were going to see this movement in price regardless of the news from China. My technical analysis was posted here well before the news. (It's TA of LTC/USD, but applied to Bitcoin as well due to the correlation) https://bitcointalk.org/index.php?topic=191485.msg3951933#msg3951933
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guybrushthreepwood
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December 19, 2013, 05:10:31 PM |
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No it was not. But even if it was a sham, bitcoin has been oversold badly in the last several months and crash is imminent.
Ok that's good that at least the news is accurate then. I would hate to think we all just got fooled. And yes, I agree the price is way over what it should be. What price should it be at?
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Ozymandias
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December 19, 2013, 06:07:51 PM |
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No it was not. But even if it was a sham, bitcoin has been oversold badly in the last several months and crash is imminent.
Ok that's good that at least the news is accurate then. I would hate to think we all just got fooled. And yes, I agree the price is way over what it should be. What price should it be at? $10 when I want to buy and $10k when I want to sell
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luqash3
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December 19, 2013, 07:13:01 PM |
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Colinistheman yes unfortunately Chinese authorities have took harsh measures against bitcoin which was sky rocketing but now due to all the mess in china the price of bitcoin has lost more than half of its value like it was nearly $1200 but now $500 is a support. By the way you may search various sites in English which shall give you info about bitcoins.
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empoweoqwj
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December 20, 2013, 01:38:42 AM |
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Don't use google translate ... there are plenty of places to get real news out of China, nobody should ever rely on GT for making invesment decisions
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accord01
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December 20, 2013, 01:43:08 AM |
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A lot of people think the Chinese government, when prohibiting something, is like the USA government. The US gov't, for example, in the unlawful online gaming act, just prohibits payment processors, and that is it. And it took them a long time to do so and USA people can still play poker/gamble online.
The Chinese government is NOT the same. Once you undermine they're policies AND intent, they will go even more harsh. It took them just 1 month to come up with this act.
If it was USA, it take years to forbid payment processors with bitcoin. The Chinese government moves overnight.
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Honeypot
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December 20, 2013, 02:04:13 AM |
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A lot of people think the Chinese government, when prohibiting something, is like the USA government. The US gov't, for example, in the unlawful online gaming act, just prohibits payment processors, and that is it. And it took them a long time to do so and USA people can still play poker/gamble online.
The Chinese government is NOT the same. Once you undermine they're policies AND intent, they will go even more harsh. It took them just 1 month to come up with this act.
If it was USA, it take years to forbid payment processors with bitcoin. The Chinese government moves overnight.
Unless it's their own corruption and deceit, which took half a century to even admit
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BitJock-e
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December 20, 2013, 02:31:49 AM |
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If you do a quick google search on the topic, there are several very legitimate new organizations carrying the story.
How would it be a sham?
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empoweoqwj
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December 20, 2013, 02:39:15 AM |
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If you do a quick google search on the topic, there are several very legitimate new organizations carrying the story.
How would it be a sham?
Course its not a sham. Someone on reddit was mucking around. It happens.
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titulng
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HubrisOne
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December 20, 2013, 07:05:49 AM |
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I also heard that false trading on OKcoin and BTCchina, chinese bitcoins trade platform. the news form sina : http://blog.sina.com.cn/s/blog_8b6a56cf0101e44o.html But I don't know the info true or false too.
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hilariousandco
Global Moderator
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Join the world-leading crypto sportsbook NOW!
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December 20, 2013, 11:34:37 AM |
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I don't know if it was a sham, but it was blown out of all proportion. This is what happens when fools panic.
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guybrushthreepwood
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December 20, 2013, 11:45:14 AM |
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It's the exact opposite of true trading.
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empoweoqwj
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December 20, 2013, 12:01:31 PM |
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It's the exact opposite of true trading. Still none the wiser. What is "true trading". These aren't terms that appear in investopedia you know
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Barek
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December 20, 2013, 12:06:45 PM |
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Still none the wiser. What is "true trading". These aren't terms that appear in investopedia you know False trading could be selling to yourself to fake volume. Since there was no transaction fee, this did not cost anything.
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guybrushthreepwood
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December 20, 2013, 12:07:14 PM |
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It's the exact opposite of true trading. Still none the wiser. What is "true trading". These aren't terms that appear in investopedia you know Haha, I have no idea either. Maybe he meant like insider trading or misinformation or something, or maybe he just heard some bullshit of somebody else?
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empoweoqwj
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December 20, 2013, 12:08:36 PM |
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Still none the wiser. What is "true trading". These aren't terms that appear in investopedia you know False trading could be selling to yourself to fake volume. Since there was no transaction fee, this did not cost anything. Thank you. That makes sense. But any website could do that anyway, regardless of transaction fees or not, just by "internal accounting" methods.
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