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Author Topic: Effects of China and India News on BTC Price  (Read 3208 times)
MatTheCat
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December 29, 2013, 12:16:18 PM
 #21

I heard an awful lot of folks calling for BTC to fall further on China/India news and it's held it's own and done really well the past few days.  I'm getting ready to pull the trigger on some more BTC.

As a late late comer to Bitcoin investment, I am being very hesitant with trading/investing and ultra cautious whenever their is a change in the wind (I liquidate everything). If we are in for another shit-storm in Bitcoin, it will be a shit-storm down the ways, not up.

I feel it in my gut, you feel it in your gut, everyone feels it in their gut, and for good reason. Doesn't mean its gonna happen but there sure is tremendous potential for it. I have the feeling that this whole überinflated market is not being held up by market forces, but by the whim of a relative few individuals, which causes me to find all the self-congratulatory splurge of Bitcoin hitting 1K again by Jan 2014, China being irrelevant, and then Bitcoin 2 da moon, all the more disgusting.


If however I was sitting on a big stash of Bitcoin bought at sub $100:

So you are one of those weak hands ready to bail out every time someone starts spreading bad news. Thanks to people like you we have panic sells you can be proud of yourself.

I would say...FK U Traitor and your limp wristed weak hands. It is people like you that are preventing me from being a millionaire for doing jack shit.

Buy in at any price and HOLD!

Kraken Account, Robbed/Emptied. Kraken say "Fuck you, its your loss": https://bitcointalk.org/index.php?topic=1559553.msg15656643#msg15656643

Bitfinex victims. DO NOT TOUCH THE BFX TOKEN! Start moving it around, or trading it, and you will be construed as having accepted it as an alternative means of payment to your USD, BTC, etc.
bryant.coleman
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December 29, 2013, 02:14:50 PM
 #22

More than 50% can't afford a single satoshi let alone a bitcoin.

I don't understand what you mean!

1 Satoshi is equal to $750 / 100,000,000  = $ 0.0000075

Are you sure that people can't afford it?

jamesc760
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December 29, 2013, 02:30:57 PM
 #23

More than 50% can't afford a single satoshi let alone a bitcoin.

I don't understand what you mean!

1 Satoshi is equal to $750 / 100,000,000  = $ 0.0000075

Are you sure that people can't afford it?



If you ever go to India, you will know what abject poverty means. I am sure more than 50% of people in India can't afford to pay for 1 Satoshi currently.
empoweoqwj
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December 30, 2013, 02:43:39 AM
 #24

More than 50% can't afford a single satoshi let alone a bitcoin.

I don't understand what you mean!

1 Satoshi is equal to $750 / 100,000,000  = $ 0.0000075

Are you sure that people can't afford it?



If you ever go to India, you will know what abject poverty means. I am sure more than 50% of people in India can't afford to pay for 1 Satoshi currently.

Well, whatever "cash" they have, they certainly won't be putting into a cryptocoin. Goes straight to feed the family and medicine. That's it!
ElectricMucus
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December 30, 2013, 03:22:11 AM
 #25

LOL at the clueless idiots thinking India is a poverty stricken 3rd world country. It has more top universities than any central European country and a quite healthy middle class. It is similar to China in that respect, it just has different politics. Yes the rural population is fucked, but that's no different than in China.
empoweoqwj
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December 30, 2013, 03:30:36 AM
 #26

LOL at the clueless idiots thinking India is a poverty stricken 3rd world country. It has more top universities than any central European country and a quite healthy middle class. It is similar to China in that respect, it just has different politics. Yes the rural population is fucked, but that's no different than in China.

Compare the GDP of China and India ...

Anyway, India has just tried to arrest everyone using bitcoins. Its not a country that will be relevant to bitcoin for a good while.
Apostata
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December 30, 2013, 03:38:03 AM
 #27

LOL at the clueless idiots thinking India is a poverty stricken 3rd world country. It has more top universities than any central European country and a quite healthy middle class. It is similar to China in that respect, it just has different politics. Yes the rural population is fucked, but that's no different than in China.

Compare the GDP of China and India ...

Anyway, India has just tried to arrest everyone using bitcoins. Its not a country that will be relevant to bitcoin for a good while.

No they didn't.  They raided exchanges for not having the proper licenses. 
ElectricMucus
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December 30, 2013, 03:44:20 AM
 #28

LOL at the clueless idiots thinking India is a poverty stricken 3rd world country. It has more top universities than any central European country and a quite healthy middle class. It is similar to China in that respect, it just has different politics. Yes the rural population is fucked, but that's no different than in China.

Compare the GDP of China and India ...
GDP is not a measure of personal income, in the case of China it includes all those export businesses of which profits go to offshore firms.

Any way China and India compose about half of the world population, if you don't think that is a dramatic longterm development what is?
undeadbitcoiner
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December 30, 2013, 03:51:08 AM
 #29

Quote
If you ever go to India, you will know what abject poverty means. I am sure more than 50% of people in India can't afford to pay for 1 Satoshi currently.
Quote
Well, whatever "cash" they have, they certainly won't be putting into a cryptocoin. Goes straight to feed the family and medicine. That's it!
Only feed Family that is also Hardly forget about Medicine. If someone is sick either he-she dies in his-her home or in some municipal hospital

LOL at the clueless idiots thinking India is a poverty stricken 3rd world country. It has more top universities than any central European country and a quite healthy middle class. It is similar to China in that respect, it just has different politics. Yes the rural population is fucked, but that's no different than in China.
Which Econimic are you talking about?
Just come out from Chennai, Hydrabad, Banglore and Delhi you will see what the poverty is. Staying in this 4 big city you will never see poverty. You cant never compare with china. India is one country where 1 person can Feed whole india for few months and in the same place atleast 100's people are diying every Minute because of Lack of food.

undeadbitcoiner
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December 30, 2013, 03:56:41 AM
 #30

LOL at the clueless idiots thinking India is a poverty stricken 3rd world country. It has more top universities than any central European country and a quite healthy middle class. It is similar to China in that respect, it just has different politics. Yes the rural population is fucked, but that's no different than in China.

Compare the GDP of China and India ...
GDP is not a measure of personal income, in the case of China it includes all those export businesses of which profits go to offshore firms.

Any way China and India compose about half of the world population, if you don't think that is a dramatic longterm development what is?
Just holding population is nothing
having more then 1 B people is not such important if there are only few thousands people are capable and few 100s people are holding billions of money. India is not till compareable to China not even Population i can see your post about university can you tell me the Education % states rather then few 5-6? Your population even dont Understand and Speak your National Language and as well as English and you say you have top University?

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December 30, 2013, 03:57:43 AM
 #31

India has a pretty high gini index, that's what I mean. But the wealth distribution is flatter at the top, leaving you with a similar situation to China.

If you leave away the lower 50% of China/India you almost have a western industrial nation, not quite but it's getting there - fast.
phoenix1
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December 30, 2013, 11:54:27 PM
 #32

2 words re India ... GO THERE

"Before you embark on a journey of revenge, dig two graves"  - Confucius (China 551BC-479 BC)
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