We might not see cheap Coins anytime soon thanks to BTC China

[GigaCoin]

Thanks to BTCChina, it's likely that we might not see $500 BTC again. Market manipulation and fake volumes by Chinese exchanges like Huobi kept the price up in the previous weeks and now BTCChina is gearing up to take the prices back to $1000+ . It's also important to note that if prices are not allowed to consolidate properly like they should have due to fake volumes, Chinese exchanges maybe creating a really massive bubble out of Bitcoin.

Personally i was hoping for $500 BTC again to buy in cheap, but it seems my hopes for that are eroding. Whatever the price is in the next few days, i welcome it with open arms.

thoughts ?

[Serge]

next few days may actually be quiet due to holidays there. banking probably resumes somewhere in the second week of february

[MAbtc]

As another poster mentioned, it looks like the volume surge pertained to a bot exploiting a market order bot using the maker taker structure. The market order bot has since been turned off.

Was the bank transfer story confirmed? Last night it was just a reddit story confirmed by "John Winklevoss."

[GigaCoin]

As another poster mentioned, it looks like the volume surge pertained to a bot exploiting a market order bot using the maker taker structure. The market order bot has since been turned off.

Was the bank transfer story confirmed? Last night it was just a reddit story confirmed by "John Winklevoss."

It's real, Bobby lee even confirmed it:

http://www.coindesk.com/btc-china-accepting-bank-deposits/

[banaltcoin]

As another poster mentioned, it looks like the volume surge pertained to a bot exploiting a market order bot using the maker taker structure. The market order bot has since been turned off.

Was the bank transfer story confirmed? Last night it was just a reddit story confirmed by "John Winklevoss."

It's real, Bobby lee even confirmed it:

http://www.coindesk.com/btc-china-accepting-bank-deposits/

Bobby lee is going to be put in jail by China government for this

[fonzie]

[Ibian]

Stable prices are good. Falling prices are not. Not even for bears. Every 50% drop damages the public opinion that much more, but as long as it is only ever stable or rising more people will want in.

The current bitcoin market is not a closed entity. We need the other 99% to get on board if we are ever going to see real growth. The final market price will be the same, just a matter of when we get there. Why postpone it for a decade, or even two?

[GigaCoin]

As another poster mentioned, it looks like the volume surge pertained to a bot exploiting a market order bot using the maker taker structure. The market order bot has since been turned off.

Was the bank transfer story confirmed? Last night it was just a reddit story confirmed by "John Winklevoss."

It's real, Bobby lee even confirmed it:

http://www.coindesk.com/btc-china-accepting-bank-deposits/

Bobby lee is going to be put in jail by China government for this

It's a very risky route he's taking i agree.

[Torque]

So Huobi and OKCoin can have bank accounts for deposit/withdrawal, but BTC China can't? Hmmm?  Interesting...

[banaltcoin]

So Huobi and OKCoin can have bank accounts for deposit/withdrawal, but BTC China can't? Hmmm?  Interesting...

no worry, they will soon all meet each other in a small dark room...

[GigaCoin]

So Huobi and OKCoin can have bank accounts for deposit/withdrawal, but BTC China can't? Hmmm?  Interesting...

Huobi has been using a personal account i believe

[coinpharmer]

Thanks to BTCChina, it's likely that we might not see $500 BTC again. Market manipulation and fake volumes by Chinese exchanges like Huobi kept the price up in the previous weeks and now BTCChina is gearing up to take the prices back to $1000+ . It's also important to note that if prices are not allowed to consolidate properly like they should have due to fake volumes, Chinese exchanges maybe creating a really massive bubble out of Bitcoin.

Personally i was hoping for $500 BTC again to buy in cheap, but it seems my hopes for that are eroding. Whatever the price is in the next few days, i welcome it with open arms.

thoughts ?

but when will we see it over 1k, im not sure this news will effect anything until those transfers are able to go threw. granted i know many people have been holding back that are not from china that may jump in now, but as far as Chinese money flowing in, i think thats still several days off.

Personally i was hoping for $500 BTC again to buy in cheap, but it seems my hopes for that are eroding. Whatever the price is in the next few days, i welcome it with open arms.

so true i had to quote it again =)

[aminorex]

It's a very risky route he's taking i agree.

Looks like a win-win for Bobby Lee, as far as I can tell.  He's following the stated rules, and he's very high international visibility.  If he gets shutdown, he loses his business, but that was toast anyhow.  Worst that can reasonably happen is that his exchange gets shut down.  At this point, either they change the rules or he's free to operate.  All the alternatives are pretty much cut off by the international visibility factor.

[tsoPANos]

Hmm, I do think that we WILL be able to buy btc much cheaper.

[banaltcoin]

It's a very risky route he's taking i agree.

Looks like a win-win for Bobby Lee, as far as I can tell.  He's following the stated rules, and he's very high international visibility.  If he gets shutdown, he loses his business, but that was toast anyhow.  Worst that can reasonably happen is that his exchange gets shut down.  At this point, either they change the rules or he's free to operate.  All the alternatives are pretty much cut off by the international visibility factor.

he might lose his freedom too

[banaltcoin]

He's following the stated rules

Is this true? It is not clear to me whether bank transfers were explicitly allowed/disallowed.

No, All chinese banks are not allowed to do anything Bitcoin related, he is trying to use the "PBOC said people can trade bitcoin, which it's just nonsense" stuff to cover up his "accept bank wire deposit again" illegal action

[Dalmar]

He's following the stated rules

Is this true? It is not clear to me whether bank transfers were explicitly allowed/disallowed.

BTCChina is taking a liberal interpretation of the PBOC notice.. (claiming that they are not part of/working with financial institutions) but IMO this is just milking the almost dying cash cow.

[fonzie]

It´s like sending money to Gox.  

[Dalmar]

It´s like sending money to Gox.  

Bitcoin exchanges are all mostly fucked up.. I sincerely doubt that bitcoin will go mainstream with the likes of Mt.Gox (fake fiat), Huobi/BTCChina (illegal operations), BTC-e (anonymous gypsies) dominating the market.  

[chessnut]

we had cheap coins already........ $490. why didnt ya buy then?