China's manipulation

[eggran]

http://thenextweb.com/asia/2014/01/31/influential-bitcoin-exchange-btc-china-begins-accepting-renminbi-deposits-after-6-week-block/#!t3JGC

[Suspicious link removed]j.com%2Farticle%2FSB10001424052702303743604579353783803642644.html

http://www.techinasia.com/worlds-largest-bitcoin-exchange-btc-china-starts-accepting-rmb-deposits/

http://www dot fuckinggoogleit dot com

was there any foul play in this?

were chinese regulators manipulating the markets?

WHO saw this coming?… please, tell me.. i'd love to pick your brain. i really feel like i read a post where someone had a legitimate argument that China would reverse it's decision.


Happy Chinese New Year!!*




*must be their version of April fool's 

[TERA]

I think the people manipulating the market are exchange operators - not the Chinese government. The only thing China did was have PBOC release two statements - no other action was taken. The statements were then interpreted and translated by various third parties and exchange operators acted on those statements by disabling (and later reenabling) withdrawal methods. Suddenly one day Lee decides to change his interpretation of the PBOC statement - that is his own action and nobody else's. So it's really exchange operators and bitcoiners playing this game. The Chinese government has done nothing. We can speculate that Lee has some contact within the Chinese government that's told him that bank transfer is now safe. However more likely that's not true and this seems more of a desperate act to sucker more money out of a sinking business while he still can before more strict regulation and enforcement actions are passed.

[Dalmar]

I think the people manipulating the market are exchange operators - not the Chinese government. The only thing China did was have PBOC release two statements - no other action was taken. The statements were then interpreted and translated by various third parties and exchange operators acted on those statements by disabling (and later reenabling) withdrawal methods. Suddenly one day Lee decides to change his interpretation of the PBOC statement - that is his own action and nobody else's. So it's really exchange operators and bitcoiners playing this game. The Chinese government has done nothing. We can speculate that Lee has some contact within the Chinese government that's told him that bank transfer is now safe. However more likely that's not true and this seems more of a desperate act to sucker more money out of a sinking business while he still can before more strict regulation and enforcement actions are passed.

This is confirmed.

[eggran]

I think the people manipulating the market are exchange operators - not the Chinese government. The only thing China did was have PBOC release two statements - no other action was taken. The statements were then interpreted and translated by various third parties and exchange operators acted on those statements by disabling (and later reenabling) withdrawal methods. Suddenly one day Lee decides to change his interpretation of the PBOC statement - that is his own action and nobody else's. So it's really exchange operators and bitcoiners playing this game. The Chinese government has done nothing. We can speculate that Lee has some contact within the Chinese government that's told him that bank transfer is now safe. However more likely that's not true and this seems more of a desperate act to sucker more money out of a sinking business while he still can before more strict regulation and enforcement actions are passed.

This is confirmed.

TERA, interesting insight..

Dalmar, any links to that confirmation?

[Dalmar]

TERA, interesting insight..

Dalmar, any links to that confirmation?

Our confirm lord Proudhon will provide the necessary details.