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Author Topic: January 31st, the Downfall of Bitcoin  (Read 12717 times)
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January 31, 2014, 06:39:06 PM
 #101

January 31st, the Downfall of Bitcoin

Funny how the  price is just humming along without a blip on Chinese exchanges today...

Did you see in one hour on the 29th more than $8 MILLION USD (元50 million) in BTC were PURCHASED on Chinese exchanges in about an hour?

Wait am I appealing to a troll?  What is wrong with me?
Bitcoin mining is now a specialized and very risky industry, just like gold mining. Amateur miners are unlikely to make much money, and may even lose money. Bitcoin is much more than just mining, though!
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January 31, 2014, 07:02:21 PM
 #102

January 31st, the Downfall of Bitcoin
On January 31st, a new law will be effective in China: third party Bitcoin payment processors will no longer be allowed to trade bitcoins. This means that the Chinese can no longer trade-in their bitcoins for fiat money (regular currency), or withdraw their money from the crypto-currency exchanges.

'Bitcoin' was a fun ride, and many people have made a nice profit out of crypto-currencies, but this will come to an end. Governments and established banks will not allow this threat to spread.

Overstock & TigerDirect have started accepting bitcoin. But is this really great news, or relevant to the value/adaption of bitcoin? These companies will probably sell their bitcoins as soon as there is a sign of a major threat. They will leave the small traders and miners out in the cold with their worthless bitcoins.

Let's say this is not about a law implemented by the Chinese government, but a law enforced by the European Union. After January 31st, crypto-currency exchanges in Europe are no longer allowed to deal in bitcoins. After this date, traders can not withdraw their money from European exchanges anymore.

The question we must ask ourselves is: What will the majority of the traders do on, or before January 31st? Will they sit tight and hold on to their bitcoins, or will they trade-in their bitcoins before everyone else does?

One can dream about the possibilities and future value of bitcoins, but these will remain dreams. The reality tells us that after January 31st, bitcoins and fiat money in Chinese exchanges will be as valuable as Monopoly money.

Read more at http://www.liveleak.com/view?i=21a_1390679748#qDSE3sRb5T4ElVDH.99





Is it January 31st yet?  Just wondering because nothing of what you said has happened.....ROFL.

_Crypto made easier than cash_

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January 31, 2014, 07:50:43 PM
 #103

Sorry Chicken Little. The sky didn't fall.
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January 31, 2014, 11:37:04 PM
 #104

My prediction will come true.
And when it does, I expect a donation from everyone here.
Otherwise I will never again share insider information with you guys Wink .

Prediction fail.  This morning the sun rose (except in China where it is too polluted unfortunately). Bitcoins spiked up and then settled at $800.  Man, was I disappointed. If it went up, great!  If it went down, also great!  But it did a big fat nothing.

the 31st isnt over yet
Now it is, now it is my friend.
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January 31, 2014, 11:57:06 PM
 #105


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February 01, 2014, 12:02:51 AM
 #106

bitcoinlitcoinbtcltc, I agree with your analysis, and I'm grateful for your service.  I have confirmed you as a verified and trustworthy bad news source.  

Also, please contribute to the confirmed bad news thread, so people can see all the confirmed bad news in one place.  Thank you, again.


I think it will go down to around $350-400 like the last crash. Maybe even a little bit lower.

Remember people, last year it crashed from 266 to 50. It went down 82%.
It could go down to $150 just as easily (same percentage).

because it went down EXACTLY 82% it WILL go down EXACTLY 82% from last ATH, so clearly anyone buying over (.18xATH) is doomed. also, in this scientific and prooven maths formula WILL hold true on all future price gains, forever, unchangingly.

if price falls only 20%, 30% hell even 80%, we have not seen the bottem. 82% is the ticket people...

even Jesus Christ told of the powers of the 82%, because he lost 82% of his weight after dying, only to return to All Time Highs in heaven (da moon)

You met Jesus??? Or are you referring to a book....




I felt really bad for this lady she was so nice and was just trying to help. She really caught hell for screwing up that painting
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February 01, 2014, 12:06:14 AM
 #107

bitcoinlitcoinbtcltc, I agree with your analysis, and I'm grateful for your service.  I have confirmed you as a verified and trustworthy bad news source.  

Also, please contribute to the confirmed bad news thread, so people can see all the confirmed bad news in one place.  Thank you, again.


I think it will go down to around $350-400 like the last crash. Maybe even a little bit lower.

Remember people, last year it crashed from 266 to 50. It went down 82%.
It could go down to $150 just as easily (same percentage).

because it went down EXACTLY 82% it WILL go down EXACTLY 82% from last ATH, so clearly anyone buying over (.18xATH) is doomed. also, in this scientific and prooven maths formula WILL hold true on all future price gains, forever, unchangingly.

if price falls only 20%, 30% hell even 80%, we have not seen the bottem. 82% is the ticket people...

even Jesus Christ told of the powers of the 82%, because he lost 82% of his weight after dying, only to return to All Time Highs in heaven (da moon)

You met Jesus??? Or are you referring to a book....




I felt really bad for this lady she was so nice and was just trying to help. She really caught hell for screwing up that painting
The road to hell is paved with good intentions.
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February 01, 2014, 12:06:30 AM
 #108

I felt really bad for this lady she was so nice and was just trying to help. She really caught hell for screwing up that painting

LOL - I would call it modern art. We need more of these refinements. Grin


ya.ya.yo!

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bitcoinlitcoinbtcltc (OP)
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February 01, 2014, 12:06:52 AM
 #109

My prediction will come true.
And when it does, I expect a donation from everyone here.
Otherwise I will never again share insider information with you guys Wink .

Prediction fail.  This morning the sun rose (except in China where it is too polluted unfortunately). Bitcoins spiked up and then settled at $800.  Man, was I disappointed. If it went up, great!  If it went down, also great!  But it did a big fat nothing.

the 31st isnt over yet
Now it is, now it is my friend.

I obviously meant the 31st of January, 2015. Not 2014.
Silly you!

(Proudhon please confirm this).
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February 01, 2014, 12:10:26 AM
 #110

LOL, there's still people that believe they are badass because they make negative predictions.

What's the most intense facepalm image you have ever seen?
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February 01, 2014, 12:18:31 AM
 #111

My prediction will come true.
And when it does, I expect a donation from everyone here.
Otherwise I will never again share insider information with you guys Wink .

Prediction fail.  This morning the sun rose (except in China where it is too polluted unfortunately). Bitcoins spiked up and then settled at $800.  Man, was I disappointed. If it went up, great!  If it went down, also great!  But it did a big fat nothing.

the 31st isnt over yet
Now it is, now it is my friend.

I obviously meant the 31st of January, 2015. Not 2014.
Silly you!

(Proudhon please confirm this).
Wtf are you still doing posting? find another cause, you certainly have no aptitude to understand this one. Consider yourself on my ignore list, it consists of 1.
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February 01, 2014, 01:15:48 AM
 #112

My prediction will come true.
And when it does, I expect a donation from everyone here.
Otherwise I will never again share insider information with you guys Wink .

Prediction fail.  This morning the sun rose (except in China where it is too polluted unfortunately). Bitcoins spiked up and then settled at $800.  Man, was I disappointed. If it went up, great!  If it went down, also great!  But it did a big fat nothing.

the 31st isnt over yet
Now it is, now it is my friend.

I obviously meant the 31st of January, 2015. Not 2014.
Silly you!

(Proudhon please confirm this).

My prediction will come true.
And when it does, I expect a donation from everyone here.
Otherwise I will never again share insider information with you guys Wink .

Prediction fail.  This morning the sun rose (except in China where it is too polluted unfortunately). Bitcoins spiked up and then settled at $800.  Man, was I disappointed. If it went up, great!  If it went down, also great!  But it did a big fat nothing.

the 31st isnt over yet
Now it is, now it is my friend.

I obviously meant the 31st of January, 2015. Not 2014.
Silly you!

(Proudhon please confirm this).

Cannot confirm.  Also, as I've completed what I consider my magnum opus, and finding myself seriously exhausted from it, I need to take a breather from the spec forum again.  See you later, guys.


Bitcoin Fact: the price of bitcoin will not be greater than $20k for more than 30 consecutive days at any point in the next 5 years
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February 01, 2014, 01:16:44 AM
 #113

My prediction will come true.
And when it does, I expect a donation from everyone here.
Otherwise I will never again share insider information with you guys Wink .

Prediction fail.  This morning the sun rose (except in China where it is too polluted unfortunately). Bitcoins spiked up and then settled at $800.  Man, was I disappointed. If it went up, great!  If it went down, also great!  But it did a big fat nothing.

the 31st isnt over yet
Now it is, now it is my friend.

I obviously meant the 31st of January, 2015. Not 2014.
Silly you!

(Proudhon please confirm this).

My prediction will come true.
And when it does, I expect a donation from everyone here.
Otherwise I will never again share insider information with you guys Wink .

Prediction fail.  This morning the sun rose (except in China where it is too polluted unfortunately). Bitcoins spiked up and then settled at $800.  Man, was I disappointed. If it went up, great!  If it went down, also great!  But it did a big fat nothing.

the 31st isnt over yet
Now it is, now it is my friend.

I obviously meant the 31st of January, 2015. Not 2014.
Silly you!

(Proudhon please confirm this).

Cannot confirm.  Also, as I've completed what I consider my magnum opus, and finding myself seriously exhausted from it, I need to take a breather from the spec forum again.  See you later, guys.



My time to shine!

Say hello to your new prophet, ladies!
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February 01, 2014, 01:33:39 AM
 #114

Hard to predict BTC china opening deposits... it aint over with tough. They did it on the sly and coordinated it with the new year government action may come after the holiday.

From the head of BTC china

 “We are definitely in compliance with the Dec. 5 memo, but the government and the government agencies can change the rules anytime in the future. So we are going to take a wait-and-see approach,” Lee told the WSJ. We’ve emailed him for further comment.
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February 01, 2014, 02:37:18 AM
 #115

Let's face it, anyone in China who wanted to cash out has probably done so. Why wait for a deadline ?
Also, the no-news will probably give a boost to the price. There's already a +ve trend in the alt-coins (except for LTC /what a dog!/)

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February 01, 2014, 02:42:33 AM
 #116

Let's face it, anyone in China who wanted to cash out has probably done so. Why wait for a deadline ?
Also, the no-news will probably give a boost to the price. There's already a +ve trend in the alt-coins (except for LTC /what a dog!/)



Agree. This info was already long priced in and that's why we didn't a crash this week.
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February 01, 2014, 02:57:50 AM
 #117

My prediction will come true.
And when it does, I expect a donation from everyone here.
Otherwise I will never again share insider information with you guys Wink .

Prediction fail.  This morning the sun rose (except in China where it is too polluted unfortunately). Bitcoins spiked up and then settled at $800.  Man, was I disappointed. If it went up, great!  If it went down, also great!  But it did a big fat nothing.

the 31st isnt over yet
Now it is, now it is my friend.

I obviously meant the 31st of January, 2015. Not 2014.
Silly you!

(Proudhon please confirm this).

My prediction will come true.
And when it does, I expect a donation from everyone here.
Otherwise I will never again share insider information with you guys Wink .

Prediction fail.  This morning the sun rose (except in China where it is too polluted unfortunately). Bitcoins spiked up and then settled at $800.  Man, was I disappointed. If it went up, great!  If it went down, also great!  But it did a big fat nothing.

the 31st isnt over yet
Now it is, now it is my friend.

I obviously meant the 31st of January, 2015. Not 2014.
Silly you!

(Proudhon please confirm this).

Cannot confirm.  Also, as I've completed what I consider my magnum opus, and finding myself seriously exhausted from it, I need to take a breather from the spec forum again.  See you later, guys.



It was a lovely stay, very entertaining and a most triumphant finishing touch.

Keep HODLing brother.

"A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution" - Satoshi Nakamoto
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February 01, 2014, 03:36:24 AM
Last edit: February 01, 2014, 03:51:12 AM by spndr7
 #118



One can dream about the possibilities and future value of bitcoins, but these will remain dreams. The reality tells us that after January 31st, bitcoins and fiat money in Chinese exchanges will be as valuable as Monopoly money.



Now that 31 jan 2014 has gone and market is firm and strong.

Where are the bears who fueled this conspiracy thread ? Give explanation for your failure  Grin

bitcoinlitcoinbtcltc (OP)
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February 01, 2014, 10:26:59 AM
 #119



One can dream about the possibilities and future value of bitcoins, but these will remain dreams. The reality tells us that after January 31st, bitcoins and fiat money in Chinese exchanges will be as valuable as Monopoly money.



Now that 31 jan 2014 has gone and market is firm and strong.

Where are the bears who fueled this conspiracy thread ? Give explanation for your failure  Grin

What part about ''After January 31st'' don't you understand? It's after January 31st 2014 from now until the end of times.
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February 01, 2014, 11:03:49 AM
 #120

Topic says "january 31th the downfall of bitcoin" doesn't it? Well that date passed and I dont see no downfall. Also people this is important, PROUDHON said he's taking some time off, if this isn't bullish I don't know what is. Can you confirm Proudhon?Smiley
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