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Author Topic: So, nobody really gives a crap?  (Read 5474 times)
BTCalexxx2.0
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January 09, 2014, 03:14:16 AM
 #1

I mean about the Chinese deadline on January 31st...

When searching the forums, it just seems like nobody really cares and I was wondering why. Am I missing something here or is this some sort of tabu that mustn't be discussed, so that we can keep on dreaming about 10K+  Huh

Can ANYONE give me a single convincing and profound reason why the market should not entirely collapse by the end of this month LATEST?

I used to be a BTC bull myself by the way, but serious doubts about BTC surviving 2014 kinda took over recently.

Looking forward to your replies.


Cheers
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January 09, 2014, 03:23:00 AM
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Because the US plans on taxing it. We more or less already lost China once and BTC took a hit.  The reason why it won't die out, though, is because every time the price has a huge dip a new wave of investors comes in for the cheap buy.  It is too far into the spotlight to die now unless the US strikes it down, which, won't happen this year.

I'm too lazy to write a long-winded response but that is one of the very simple answers Smiley If big money pulls out over this, then you can start panicking because then there is no political leverage.
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January 09, 2014, 03:31:27 AM
 #3

EDIT: Sorry didn't see you have been editing your post. Give me some time to think about it again. Cheers  Wink


Aight.

So, how are US taxing plans exactly connected to China banning the Bitcoin for good?

Honestly speaking, I cannot see any.
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January 09, 2014, 03:32:17 AM
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People use what is easiest or the most profitable. Bitcoin is both in many areas. Doesn't matter what any given country or government does, it will keep growing because it is useful.

Look inside yourself, and you will see that you are the bubble.
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January 09, 2014, 03:33:54 AM
 #5

I mean about the Chinese deadline on January 31st...

When searching the forums, it just seems like nobody really cares and I was wondering why. Am I missing something here or is this some sort of tabu that mustn't be discussed, so that we can keep on dreaming about 10K+  Huh

Can ANYONE give me a single convincing and profound reason why the market should not entirely collapse by the end of this month LATEST?

I used to be a BTC bull myself by the way, but serious doubts about BTC surviving 2014 kinda took over recently.

Looking forward to your replies.


Cheers

Because China, however big, is one of over 200 countries in the world. Why should the market collapse because one country is clamping down (and may change its mind in the future anyway)
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January 09, 2014, 03:52:23 AM
 #6

Yeah. Thanks for your replies so far. I guess you all got a point there, but not enough to convince me at all.

Since I am expecting something profound, I guess I should be more clear about my concerns as well.

First of all, what is going to happen with all those coins that are being traded on Chinese exchanges? Will they just vanish? Or exported? Or drop to 0 without influencing the other exchanges? Why would any Chinese who is not interested in illegally exporting money (CNY) to other countries hold any BTC in the near future in the first place? Are there any exchanges that are going to provide Chinese investors with an overseas trading platform?

Those are some of the questions I ask myself while trying to figure this whole madness out.

empoweoqwj
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January 09, 2014, 03:57:22 AM
 #7

Yeah. Thanks for your replies so far. I guess you all got a point there, but not enough to convince me at all.

Since I am expecting something profound, I guess I should be more clear about my concerns as well.

First of all, what is going to happen with all those coins that are being traded on Chinese exchanges? Will they just vanish? Or exported? Or drop to 0 without influencing the other exchanges? Why would any Chinese who is not interested in illegally exporting money (CNY) to other countries hold any BTC in the near future in the first place? Are there any exchanges that are going to provide Chinese investors with an overseas trading platform?

Those are some of the questions I ask myself while trying to figure this whole madness out.



The government cannot take the coins off the people. The people will either keep them for a long time, travel abroad and sell them, or find other ways to trade on exchanges. All is not lost in China.
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January 09, 2014, 04:02:22 AM
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Doesn't matter what happens to the chinese coins. They will stay in the economy, in which case business as usual, or they will disappear thus making the remaining coins worth more.

That's one of the many beauties of bitcoin, even if you destroy most of them the economy as a whole remains as strong as ever.

Look inside yourself, and you will see that you are the bubble.
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January 09, 2014, 04:04:12 AM
 #9

I'm guessing a good percentage of people in the West buying now are buying to hold for the long term just as many Chinese people are. If I knew an easy channel to obtain Bitcoins was closing I'd be grabbing as many as I could and stashing them.

In the future I'm sure there'll be other ways to buy and sell them regardless of where you are. For mainland Chinese people I'd guess that would mean Hong Kong or Macau as the easiest options.

The people who keep reassuring themselves that China is now totally over and no longer affects the market price are totally deluded, but it is just another bump in the road and perhaps the market has partially taken it on board.

Why would it collapse? It could still knock a big chunk off values for a while but that's about it. The entire Bitcoin protocol was compromised in 2010 and it was addressed and rapidly bounced back.

China is just one country, albeit a massive player, and it's much healthier for the Chinese government position to have been clarified so quickly than for it to have happened much further down the road. As others have said there's the rest of the world at play.

BTCalexxx2.0
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January 09, 2014, 04:05:33 AM
Last edit: January 09, 2014, 04:57:32 AM by BTCalexxx2.0
 #10

Because the US plans on taxing it. We more or less already lost China once and BTC took a hit.  The reason why it won't die out, though, is because every time the price has a huge dip a new wave of investors comes in for the cheap buy.  

Yeah. China was lost once and came back to life again. But only to go to hell next time I guess. Moreover, I cannot see any serious investors joining the market anymore. Nobody seriously wants to deal with this insane volatility. Latter is also the reason why BTC will never ever be a widespread currency leaving it just as that what it is. A speculative toy for criminals and banksters.

And I start realizing that the market is deeply manipulated by individuals or institutions who are going to teach us a very painful lesson. The only question is not if but when they gonna let the whole thing burn down to its digits and letters.
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January 09, 2014, 04:06:38 AM
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Quote
So, how are US taxing plans exactly connected to China banning the Bitcoin for good?

I mean't in reference to Bitcoin completely dying that it will not die out (at least in 2014).  It will definetly have a massive drop in price because the Chinese have a huge effect on BTC price, but, I think that it will recover slowly until the next big regulation hit comes from some other country.  The good thing is that Bitcoin is becoming more and more accepted with each day that it is alive.

It will really be interesting to see how China tries to bring down BTC globally or how they react if BTC becomes widely adopted enough for them to have to consider taking back their actions.

In the meantime BTC is still profitable by means of margin trading ^.^

 I have to say though, I agree that people are keeping it hushed or ignoring it.  I would really like to see what big investors dump because this is some pretty massive pressure to pull out, even for a trading professional.
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January 09, 2014, 04:07:21 AM
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That's one of the many beauties of bitcoin, even if you destroy most of them the economy as a whole remains as strong as ever.

As Satoshi said in one of the quotes recently published Smiley I think he went further in fact, said "makes it stronger"
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January 09, 2014, 04:08:54 AM
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Quote
So, how are US taxing plans exactly connected to China banning the Bitcoin for good?

I mean't in reference to Bitcoin completely dying that it will not die out (at least in 2014).  It will definetly have a massive drop in price because the Chinese have a huge effect on BTC price, but, I think that it will recover slowly until the next big regulation hit comes from some other country.  The good thing is that Bitcoin is becoming more and more accepted with each day that it is alive.

It will really be interesting to see how China tries to bring down BTC globally or how they react if BTC becomes widely adopted enough for them to have to consider taking back their actions.

In the meantime BTC is still profitable by means of margin trading ^.^

 I have to say though, I agree that people are keeping it hushed or ignoring it.  I would really like to see what big investors dump because this is some pretty massive pressure to pull out, even for a trading professional.

If they were going to dump, they would have done so by now. A few did, hence the price dip from $1200 to $600. But most people are too smart for that. One country does not make bitcoin.

Why do you think China will try to bring down BTC globally?
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January 09, 2014, 04:13:26 AM
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Yeah. China was lost once and came back to life again. But only to go to hell next time I guess. Moreover, I cannot see any serious investors joining the market anymore. Nobody seriously wants to deal with this insane volatility. Latter is also the reason why BTC will never ever be a widespread currency leaving it just as that what it is. A speculative toy for criminals and banksters.

And I start realizing that the market is deeply manipulated by individuals who are going to teach us a very painful lesson. The only question is not if but when they gonna let the whole thing burn down to its digits and letters.


Serious investors any more? There are hardly any yet, especially any tied to institutions. Bitcoin as a whole is chump change and a dot on the financial map. This is still the absolute wild west and will be for a while to come.

There's no point in treating it like any other market. It's still in its absolute infancy. You should be stoked that you're here to witness it.

BTCalexxx2.0
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January 09, 2014, 04:13:36 AM
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Because China, however big, is one of over 200 countries in the world. Why should the market collapse because one country is clamping down (and may change its mind in the future anyway)

Well, it is in fact only one country, but a country in which 25% of all BTC are traded. Putting this into perspective makes China fucking HUGE!
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January 09, 2014, 04:16:37 AM
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Because China, however big, is one of over 200 countries in the world. Why should the market collapse because one country is clamping down (and may change its mind in the future anyway)

Well, it is in fact only one country, but a country in which 25% of all BTC are traded. Putting this into perspective makes China fucking HUGE!

Yes and the price dropped 50% on the news. Its been discounted. Move on.
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January 09, 2014, 04:21:56 AM
 #17

It's not time to move on yet. People are still very twitchy about every snippet that comes out of China. I really don't know why they should pay it any more attention but they still do and I REALLY don't know why it's been so hard to get straightforward information.

The big Chinese exchanges might continue to splutter onwards somehow and drive the price all over the place as markets in other countries monitor them closely.

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January 09, 2014, 04:22:46 AM
 #18

Quote
Why do you think China will try to bring down BTC globally?

Solely because of competition with the US.  I don't mean a massive campaign but maybe some little things behind the scenes.  Every market in the world is manipulated by people for and against things.  It doesn't seem fitting of China to just keep their opinions in their country ^.^

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January 09, 2014, 04:24:27 AM
 #19

Quote
So, how are US taxing plans exactly connected to China banning the Bitcoin for good?

I mean't in reference to Bitcoin completely dying that it will not die out (at least in 2014).  It will definetly have a massive drop in price because the Chinese have a huge effect on BTC price, but, I think that it will recover slowly until the next big regulation hit comes from some other country.  The good thing is that Bitcoin is becoming more and more accepted with each day that it is alive.

It will really be interesting to see how China tries to bring down BTC globally or how they react if BTC becomes widely adopted enough for them to have to consider taking back their actions.

In the meantime BTC is still profitable by means of margin trading ^.^

 I have to say though, I agree that people are keeping it hushed or ignoring it.  I would really like to see what big investors dump because this is some pretty massive pressure to pull out, even for a trading professional.


I like that. Too bad that there is no Facebook like button to express it  Roll Eyes
BTCalexxx2.0
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January 09, 2014, 04:33:30 AM
 #20

...and I REALLY don't know why it's been so hard to get straightforward information.


Exactly! And I can see only one reason for that. Trapping even more capital before they finally blow up the whole thing.

I mean let's be honest, do you really think Bitcoin can just mess with Central Banks and their "god-given" right to issue currency and simply get away with it? I don't think so.
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