Do not expect value-based investors in China to hold a bottom

[zhangweiwu]

I explained this view many times. Even the weathered players on the market are opportunists, vary on degree. Going to fall hard for days, not a splash-fall-and-back-soon. Price difference between China and Bitsamp is only 4.23% - last Government ban caused a 20% difference.

P.S. I reserved 200,000CNY for this predictable fiasco - at the time the price reach 4000, I think a Chinese ban flash-crash would reach 3300CNY so I placed bid there. It was triggered in the precursor cash (a few d ays ago when Bank of China romoured to ban), now with the real crash I wasn't prepared. Pity, because now I expect it fall below 2500CNY.

[1713508848]

1713508848

[Torque]

Every time your country panic sells, we buy.  Pretty soon, the majority of BTC will be back in U.S. hands.  And long term, the U.S. will have the predominate amount of bitcoin holders of any other country.

So yeah China, please keep panic selling.  The new currency war has begun!!  <insert dramatic musical score here>

 

[romang]

Every time your country panic sells, we buy.  Pretty soon, the majority of BTC will be back in U.S. hands.  And long term, the U.S. will have the predominate amount of bitcoin holders of any other country.

So yeah China, please keep panic selling.  The new currency war has begun!!  <insert dramatic musical score here>

 

Finnaly reverse trade for USA

[zhangweiwu]

Every time your country panic sells, we buy.  Pretty soon, the majority of BTC will be back in U.S. hands.  And long term, the U.S. will have the predominate amount of bitcoin holders of any other country.

Indeed it is a buying opportunity. Unfortunately if all coins change hands, that justifies China government's fear of Bitcoin as a western ideology and thus is a road-block of the next 5 year's bitcoin development in the world - that is, if this government managed to exist for another 5 years.

[Dalmar]

lol @ value investors. The Chinese are the biggest bag holders of bitcoin, once the fiat restriction is confirmed by the PBOC they will all panic sell.

[Bit_Happy]

For now, $$$ prices are pretty ugly too.
Good news (from somewhere) will come and prices will rise.

[Brassguy]

China has no choice but to ban bitcoin, and anything else that allows the Chinese people to hedge their wealth internationally that can't be easily seized. If the Chinese government didn't have strict capital controls they wouldn't be able to keep the Yuan's value pegged to another currency.

The scary thing for government-backed currencies is that bitcoin(read cryptomoney) allows for capital flight, in a major way, from their currency in the blink of an eye... much faster than they could ever respond. Granted, the entire cryptomoney space isn't that big in global economic terms, but in a few years it may be big enough to allow for the possibility of complete collapse of a government currency in hours, or less.

[zhangweiwu]

For now, $$$ prices are pretty ugly too.

Of course $$$ price is so beauitful (520) now, or how do you guys usurp the bloody Chinese coins? Arbitrageurs are shiping the coins nights and days to keep USD price down. Just keep buying, if you drop the ball the ball is dropped forever. There will be more Chinese coins to dump. I just don't feel right that the ban only caused 15% drop in price.

When I say 'bloody Chinese coins' I mean it. Quote myself:

I endeavoured to travel hundreds miles away to Xi'an for last weekend's bitcoin event ( www.yangyang.tv hosted it). Given time I'd write a full report, but in this forum of speculators a few words of sentiments should suffice.
.... snip ...
In the event, any time not spent on discussing security and mining, are spent on discussing margin trading. 3 of the 4 top Chinese exchanges are offering margin trading: they are: chbtc, huobi, okcoin. The one not offering margin trading, but instead offered liquidity rebate (a measurement to stablize price, opposite to margin trading) is BTCChina.  To my surprise, only a few are geeks, and that many non-geek participants in the Xi'an event look as if they scrapes by. To think these are the ones engaging margin trading frightens me.

[C10H15N]

Every time your country panic sells, we buy...

You really don't have to let them in on that, you know!    

[MatTheCat]

Every time your country panic sells, we buy.  Pretty soon, the majority of BTC will be back in U.S. hands.  And long term, the U.S. will have the predominate amount of bitcoin holders of any other country.

So yeah China, please keep panic selling.  The new currency war has begun!!  <insert dramatic musical score here>

 

Are you living on fkn Mars? It seems to me that everytime that China panic sells, Bitstamp panic sells 5 minutes later.

.....or am I missing something about that China lead $580 - $505 price slide?

Clown. 

[spazzdla]

Every time your country panic sells, we buy.  Pretty soon, the majority of BTC will be back in U.S. hands.  And long term, the U.S. will have the predominate amount of bitcoin holders of any other country.

So yeah China, please keep panic selling.  The new currency war has begun!!  <insert dramatic musical score here>

 

Are you living on fkn Mars? It seems to me that everytime that China panic sells, Bitstamp panic sells 5 minutes later.

.....or am I missing something about that China lead $580 - $505 price slide?

Clown. 

That is very likly arbitrage that's going on.....  Force price down on Chinese exhange.. buy.. sell on others.. prices level out.. rinse repeate.

[MatTheCat]

That is very likly arbitrage that's going on.....  Force price down on Chinese exhange.. buy.. sell on others.. prices level out.. rinse repeate.

I understand the concept and realise that there will be individuals set up to take advantage of arbitrage across all the major exchange which is why traders on each exchange tend to follow activity on the other exchanges, cos if they don't act in accordance with activity on other exchanges, then the arbitragers will and will get bigger profits and they will lose. Considering that most trading is done by bots that will be pre-configured to respond to correlative price action on other exchanges, and this relationship becomes even concrete.

So, we have this very simply understood relationship between CNY Bitcoin and USD Bitcoin, yet there are still fkn clowns like Torque around who feel the need to hit forums with their defiant tough talk.....that completely flies in the face of the present and historic reality.

[Torque]

That is very likly arbitrage that's going on.....  Force price down on Chinese exhange.. buy.. sell on others.. prices level out.. rinse repeate.

I understand the concept and realise that there will be individuals set up to take advantage of arbitrage across all the major exchange which is why traders on each exchange tend to follow activity on the other exchanges, cos if they don't act in accordance with activity on other exchanges, then the arbitragers will and will get bigger profits and they will lose. Considering that most trading is done by bots that will be pre-configured to respond to correlative price action on other exchanges, and this relationship becomes even concrete.

So, we have this very simply understood relationship between CNY Bitcoin and USD Bitcoin, yet there are still fkn clowns like Torque around who feel the need to hit forums with their defiant tough talk.....that completely flies in the face of the present and historic reality.

Ok, that's really it for me MattTheCat.  If anyone is a fkn Clown on this forum, it's you.  You throw your weight around this forum like you are some big shit, and constantly feel the need to level profanities at anyone you don't agree with.  Well fuck you.  I've watched you over the past several months botch trades, call bottoms that never came, fk up leverages that didn't swing in your favor.  Hell I'm no day trader, but I've cleaned your clock just selling at $850, patiently waiting 2 months (while you continued to day trade and barely scrape by), and buying back at $550 and again at $520.  No one here respects your opinion because you are always picking fights and acting like a complete asshat.

If you don't like what's going on in the bitcoin world or on this forum, then my advice is to get out of the bitcointalk forum, sell everything, fuck off and go back to snorting coke or whatever it is that you do for a fkn hobby.

[threecats]

For now, $$$ prices are pretty ugly too.

Of course $$$ price is so beauitful (520) now, or how do you guys usurp the bloody Chinese coins? Arbitrageurs are shiping the coins nights and days to keep USD price down. Just keep buying, if you drop the ball the ball is dropped forever. There will be more Chinese coins to dump. I just don't feel right that the ban only caused 15% drop in price.

When I say 'bloody Chinese coins' I mean it. Quote myself:

I endeavoured to travel hundreds miles away to Xi'an for last weekend's bitcoin event ( www.yangyang.tv hosted it). Given time I'd write a full report, but in this forum of speculators a few words of sentiments should suffice.
.... snip ...
In the event, any time not spent on discussing security and mining, are spent on discussing margin trading. 3 of the 4 top Chinese exchanges are offering margin trading: they are: chbtc, huobi, okcoin. The one not offering margin trading, but instead offered liquidity rebate (a measurement to stablize price, opposite to margin trading) is BTCChina.  To my surprise, only a few are geeks, and that many non-geek participants in the Xi'an event look as if they scrapes by. To think these are the ones engaging margin trading frightens me.

Hey, just wanted to say, thanks for your contributions to this forum, it is great having someone from China speak openly across the divide. I always read your posts very closely.

[segeln]

Ok, that's really it for me MattTheCat.  If anyone is a fkn Clown on this forum, it's you.  You throw your weight around this forum like you are some big shit, and constantly feel the need to level profanities at anyone you don't agree with.  Well fuck you.  I've watched you over the past several months botch trades, call bottoms that never came, fk up leverages that didn't swing in your favor.  Hell I'm no day trader, but I've cleaned your clock just selling at $850, patiently waiting 2 months (while you continued to day trade and barely scrape by), and buying back at $550 and again at $520.  No one here respects your opinion because you are always picking fights and acting like a complete asshat.

If you don't like what's going on in the bitcoin world or on this forum, then my advice is to get out of the bitcointalk forum, sell everything, fuck off and go back to snorting coke or whatever it is that you do for a fkn hobby.

I agree,but I strokethrough words I do`nt like and I do`nt use

[GTO911]

Bitcoin will be 200 soon

[windjc]

That is very likly arbitrage that's going on.....  Force price down on Chinese exhange.. buy.. sell on others.. prices level out.. rinse repeate.

I understand the concept and realise that there will be individuals set up to take advantage of arbitrage across all the major exchange which is why traders on each exchange tend to follow activity on the other exchanges, cos if they don't act in accordance with activity on other exchanges, then the arbitragers will and will get bigger profits and they will lose. Considering that most trading is done by bots that will be pre-configured to respond to correlative price action on other exchanges, and this relationship becomes even concrete.

So, we have this very simply understood relationship between CNY Bitcoin and USD Bitcoin, yet there are still fkn clowns like Torque around who feel the need to hit forums with their defiant tough talk.....that completely flies in the face of the present and historic reality.

Ok, that's really it for me MattTheCat.  If anyone is a fkn Clown on this forum, it's you.  You throw your weight around this forum like you are some big shit, and constantly feel the need to level profanities at anyone you don't agree with.  Well fuck you.  I've watched you over the past several months botch trades, call bottoms that never came, fk up leverages that didn't swing in your favor.  Hell I'm no day trader, but I've cleaned your clock just selling at $850, patiently waiting 2 months (while you continued to day trade and barely scrape by), and buying back at $550 and again at $520.  No one here respects your opinion because you are always picking fights and acting like a complete asshat.

If you don't like what's going on in the bitcoin world or on this forum, then my advice is to get out of the bitcointalk forum, sell everything, fuck off and go back to snorting coke or whatever it is that you do for a fkn hobby.

damn

[dropt]

Ok, that's really it for me MattTheCat.  If anyone is a fkn Clown on this forum, it's you.  You throw your weight around this forum like you are some big shit, and constantly feel the need to level profanities at anyone you don't agree with.  Well fuck you.  I've watched you over the past several months botch trades, call bottoms that never came, fk up leverages that didn't swing in your favor.  Hell I'm no day trader, but I've cleaned your clock just selling at $850, patiently waiting 2 months (while you continued to day trade and barely scrape by), and buying back at $550 and again at $520.  No one here respects your opinion because you are always picking fights and acting like a complete asshat.

If you don't like what's going on in the bitcoin world or on this forum, then my advice is to get out of the bitcointalk forum, sell everything, fuck off and go back to snorting coke or whatever it is that you do for a fkn hobby.

+1

[MatTheCat]

No one here respects your opinion because you are always picking fights and acting like a complete asshat.

LOL!

You wouldn't be so mad, if things were going your way and your little paradigm was intact......but they aren't, and it isn't and this will continue to be the case over the coming time period.

If I can help just one person here from being such a self-deluding retard, then I am doing the work that the good lord intended for me to do.

I bid you good day.

[infofront]

No one here respects your opinion because you are always picking fights and acting like a complete asshat.

LOL!

You wouldn't be so mad, if things were going your way and your little paradigm was intact......but they aren't, and it isn't and this will continue to be the case over the coming time period.

If I can help just one person here from being such a self-deluding retard, then I am doing the work that the good lord intended for me to do.

I bid you good day.

You might be better received with a little more tact.