So, nobody really gives a crap?

[BTCalexxx2.0]

Just look at overstock.com launch today. They are taking huge numbers of bitcoins. Once that news spreads, other big players will join the party.

Yeah. I thought so, too. I even bought some BTC again last night. But WTF? Where is the God damn upswing? That it didn't happen clearly indicates, that the whole market is VERY nervous. Seems like everybody is waiting for the next bad news or at least until the China thing is over.

Very interesting times ahead. I am sure about that by now.

Good luck.

[andrewhaas]

The Chinese are known throughout their history for doing things underground despite of government regulations.

What I mean by this is take for example their many secret societies that have co-existed with their authoritarian government throughout their history.

What one should take from this history lesson is these people are resilient and persistent on what they do. Think one-child policy.

If they got into bitcoins and made this much of a difference I highly doubt they would just quit cold-turkey just because their government says so. They will just start hiding more from the government and go "underground" with their operations.

This is the reason why BTC China will never die out because all the major players will just do things 'off the books'

[Chancellor]

By the way, BTCChina is dead, isn't it? It just disappeared from bitcoinwisdom.

Not really: http://bitcoinwisdom.com/markets/btcchina/btccny. It just disappeared as a link from the main page, replaced by Huobi.

[Kungfucheez]

The Chinese are known throughout their history for doing things underground despite of government regulations.

What I mean by this is take for example their many secret societies that have co-existed with their authoritarian government throughout their history.

What one should take from this history lesson is these people are resilient and persistent on what they do. Think one-child policy.

If they got into bitcoins and made this much of a difference I highly doubt they would just quit cold-turkey just because their government says so. They will just start hiding more from the government and go "underground" with their operations.

This is the reason why BTC China will never die out because all the major players will just do things 'off the books'

The Chinese don't have the first damn clue what they want.

And also, the Chinese haven't made any difference to bitcoin. It would be the same with or without them.

[BTCalexxx2.0]

Not really: http://bitcoinwisdom.com/markets/btcchina/btccny. It just disappeared as a link from the main page, replaced by Huobi.

Hm. That is weird. When I checked earlier it wasn't even listed under markets anymore. Well it seems like they are about to go down in any case.

TICK TACK...

[htspringer]

Just look at overstock.com launch today. They are taking huge numbers of bitcoins. Once that news spreads, other big players will join the party.

Yeah. I thought so, too. I even bought some BTC again last night. But WTF? Where is the God damn upswing? That it didn't happen clearly indicates, that the whole market is VERY nervous. Seems like everybody is waiting for the next bad news or at least until the China thing is over.

Very interesting times ahead. I am sure about that by now.

Good luck.

Be patient.
An upswing is imminent.

[BTCalexxx2.0]

And also, the Chinese haven't made any difference to bitcoin. It would be the same with or without them.

That is definitely wrong. In fact, it was China pushing BTC beyond 1000USD. It was them buying Coins like mad men! And it will be them causing a huge crash. All the other exchanges are reacting to what is going on in China right now. Not the other way round. You can even tell from the BTC-e trollbox. China is always mentioned first when the market is moving at the moment.

[Kungfucheez]

And also, the Chinese haven't made any difference to bitcoin. It would be the same with or without them.

That is definitely wrong. In fact, it was China pushing BTC beyond 1000USD. It was them buying Coins like mad men! And it will be them causing a huge crash. All the other exchanges are reacting to what is going on in China right now. Not the other way round. You can even tell from the BTC-e trollbox. China is always mentioned first when the market is moving at the moment.

No. Wrong. China had nothing to do with the price going past 1000usd. If anything I would blame it on the bust and shut down of Silk Road

[pyra-proxy]

China is not out permanently, they're just out for now... as this technology sees wider spread adoption (i.e. Overstock.com now accepting, Virgin Galactic accepting - imho, field trial for the rest of the Virgin group companies, etc.) with larger and more entities, they'll want to be back in and don't be surprised that suddenly a wave of bitcoin millionaires show up in China on that day including government officials.

Their motive is currency protection which they can't easily see as manageable in the Bitcoin ecosystem but if they fall out of favor because they are not on the bandwagon then the corrective action is jump on.  Fiat currencies won't be dieing out anytime soon but cryptocurrency is poised to be the global mediator of currencies and as that becomes apparent currencies which do not allow easy ways in and out of it will have their growth hampered (IMHO)

[cthulu1]

And also, the Chinese haven't made any difference to bitcoin. It would be the same with or without them.

You can even tell from the BTC-e trollbox. China is always mentioned first when the market is moving at the moment.

another reason to not listen to the OP.

[BTCalexxx2.0]

No. Wrong. China had nothing to do with the price going past 1000usd. If anything I would blame it on the bust and shut down of Silk Road

It seems like you don't understand how a market works. It's supply and demand influencing the price. And in those days of the huge rise it was China buying about 10 times (edit: or at least 5 times ) as many Coins as the rest of the world. The Silk Road bust only gave Bitcoin some sort of credibility as well as publicity.

And also, the Chinese haven't made any difference to bitcoin. It would be the same with or without them.

You can even tell from the BTC-e trollbox. China is always mentioned first when the market is moving at the moment.

another reason to not listen to the OP.

  I was just waiting for that. I am not saying that I take the trollbox entirely serious, but it doesn't change the fact that China is moving first.

[BitchicksHusband]

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.

That's the limit by when they can transfer the coins to the central bank.  After Feb 1, they can still transfer them to a gift card and sell that on an auction site or to another individual.  And Huobi still offers 2-way bank wires.

[empoweoqwj]

OP claims to be bigshot in the crypto scene.
creates account yesterday
follows by saying bitcoin will die in 2014 based on......?
 

Say whooot?

I didn't claim shit. Especially not to be some bigshot in whatever scene. Nor did I say that Bitcoin will die in 2014.  

 Funny though. Made my day...

By the way, BTCChina is dead, isn't it? It just disappeared from bitcoinwisdom. PUUUFFFF... And it was gone. LOL

Cheers

Didn't realize bitcoinwisdom had the power to declare which exchanges were dead or alive but there you go.

[FenixRD]

Not really: http://bitcoinwisdom.com/markets/btcchina/btccny. It just disappeared as a link from the main page, replaced by Huobi.

Hm. That is weird. When I checked earlier it wasn't even listed under markets anymore. Well it seems like they are about to go down in any case.

TICK TACK...

Why would they? And what the fuck does tick tack mean? Tick tock, like an infantile clock?

No, they're still on Wisdom, and still up. Volume up too, significantly, since they imemented maker-taker zero-profit fee structure.

Anyone trading in a Chinese exchange has long since made plans for the 31st. Obviously it's not an issue.

[BTCalexxx2.0]

Yeah, whatever. We'll see.

Looking at those tiny orders, which are constantly tiny, one must really wonder how they still keep up such a volume. What makes it even weirder. By now, the whole thing looks like a market entirely run by bots. I mean just look at those candles. It's a fucking joke. There is no real/organic trading going on.

But I am just a n000b and, honestly speaking, I don't give a shit.

[cthulu1]

I used to be a BTC bull myself by the way

But I am just a n000b and, honestly speaking, I don't give a shit.

 

[htspringer]

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.

I agree 100%

[Impaler]

No. Wrong. China had nothing to do with the price going past 1000usd. If anything I would blame it on the bust and shut down of Silk Road

Could you elaborate, the timing is right and I've developed a bit of a theory.

During Pre-takedown era BTC valuation was being weighed down by the Silk-roads coin hoard, they can and would sell when prices rose and even though the coins were not actively ON an exchange they were defacto on the market.  Post-takedown a huge number of coins became frozen and were effectively off the market so the market was uncorked, the 'media' side of the story wasn't the driver it was simple supply-destruction.  Dose this jive with your thinking?

While this might have explained some of the initial movement after the take-down, I agree with others hat Chinese buying presshure was the primary driver of the bubble and what pushed it past 1k.

[Kungfucheez]

No. Wrong. China had nothing to do with the price going past 1000usd. If anything I would blame it on the bust and shut down of Silk Road

Could you elaborate, the timing is right and I've developed a bit of a theory.

During Pre-takedown era BTC valuation was being weighed down by the Silk-roads coin hoard, they can and would sell when prices rose and even though the coins were not actively ON an exchange they were defacto on the market.  Post-takedown a huge number of coins became frozen and were effectively off the market so the market was uncorked, the 'media' side of the story wasn't the driver it was simple supply-destruction.  Dose this jive with your thinking?

While this might have explained some of the initial movement after the take-down, I agree with others hat Chinese buying presshure was the primary driver of the bubble and what pushed it past 1k.

Idk, I was just kidding, I have no fucking clue. I just don't like China and I could care less what they do

[BTCalexxx2.0]

Idk, I was just kidding, I have no fucking clue. I just don't like China and I could care less what they do

Maybe you should start caring... I mean, just in case you are holding BTC

When looking at this >>> http://bitcoinity.org/markets/list?currency=ALL&span=3d <<< I think there is enough said as far as I am concerned.

Good Luck everybody