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rix5 (OP)
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April 02, 2014, 10:09:52 PM |
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how stupid it is that a central bank (PBOC) can exercice such a power over bitcoinprices without even dumping themselves?
This selloff is actually pretty hillarious.
'central bank controls bitcoin price'
such fail
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designfail
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Activity: 86
Merit: 10
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April 02, 2014, 10:29:50 PM |
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how stupid it is that a central bank (PBOC) can exercice such a power over bitcoinprices without even dumping themselves?
This selloff is actually pretty hillarious.
'central bank controls bitcoin price'
such fail
They have no choice. Their own currency is over-manipulated by the government. The fact that they started to ban bitcoin in China is a very good sign: without real threat they will not bother. |
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rix5 (OP)
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April 02, 2014, 10:32:36 PM
Last edit: April 02, 2014, 11:40:05 PM by rix5 |
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i think it is problematic. What is achieved now?
Many chinese will be (illegally) continue trading maybe be criminalized.
Over all the POBOC makes china-people poor people. PBOC right now destrois the wealth of chinese citizens and on top of it criminalizing those that will not bow down to the misery. From the peoples standpoint it is the worst. Many honest chinese people are ruined by that zombi-bank
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atp1916
Legendary
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Activity: 854
Merit: 1000
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April 02, 2014, 10:56:24 PM |
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It was 100% naive to think that Bitcoin would have been allowed to operate in China in the first place.
Their government is Communist. It's centralized heaven over there.
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rix5 (OP)
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April 02, 2014, 11:27:14 PM |
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It was 100% naive to think that Bitcoin would have been allowed to operate in China in the first place.
Their government is Communist. It's centralized heaven over there.
funny how 'communism' never works out for 'the people' ... well actually not funny |
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turk
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Activity: 84
Merit: 10
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April 02, 2014, 11:29:04 PM |
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It was 100% naive to think that Bitcoin would have been allowed to operate in China in the first place.
Their government is Communist. It's centralized heaven over there.
funny how 'communism' never works out for 'the people' ... well actually not funny Yet, most people in the US, young hipsters, seem to never figure that out. |
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James222
Member
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Activity: 98
Merit: 10
Wassup?
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April 02, 2014, 11:31:35 PM |
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They get to "control" the prices because bitcoin is dependant of other currencies. Thats why bitcoin would need to be used on more a daily basis, but the problem is that you need your computer around you. If people start putting fixed prices in btc, then it can really start to be independant. Btc value should be determined by other factors.
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Velkro
Legendary
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Activity: 2296
Merit: 1014
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April 02, 2014, 11:33:59 PM |
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stupid or not, price going down, im not worried, will w8  simple as that |
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5thStreetResearch
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April 02, 2014, 11:36:17 PM |
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They get to "control" the prices because bitcoin is dependant of other currencies. Thats why bitcoin would need to be used on more a daily basis, but the problem is that you need your computer around you. If people start putting fixed prices in btc, then it can really start to be independant. Btc value should be determined by other factors.
Its a free market. The only determinant of bitcoins value could only ever be what someone is willing to pay for a bitcoin at any giving moment in time. If someone was to 'fix' bitcoin's price, is would no longer be open and decentralized. |
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edok
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April 03, 2014, 12:24:58 AM |
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It was 100% naive to think that Bitcoin would have been allowed to operate in China in the first place.
Their government is Communist. It's centralized heaven over there.
funny how 'communism' never works out for 'the people' ... well actually not funny Yet, most people in the US, young hipsters, seem to never figure that out. Old hipsters on the other hand... |
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trior
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Activity: 85
Merit: 10
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April 03, 2014, 04:14:20 AM |
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They get to "control" the prices because bitcoin is dependant of other currencies. Thats why bitcoin would need to be used on more a daily basis, but the problem is that you need your computer around you. If people start putting fixed prices in btc, then it can really start to be independant. Btc value should be determined by other factors.
Its a free market. The only determinant of bitcoins value could only ever be what someone is willing to pay for a bitcoin at any giving moment in time. If someone was to 'fix' bitcoin's price, is would no longer be open and decentralized. I think he meant actually the prices of products (sold in BTC) to be fixed ; not the price of bitcoin itself. |
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magnet007
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April 03, 2014, 08:03:29 AM |
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They get to "control" the prices because bitcoin is dependant of other currencies. Thats why bitcoin would need to be used on more a daily basis, but the problem is that you need your computer around you. If people start putting fixed prices in btc, then it can really start to be independant. Btc value should be determined by other factors.
Its a free market. The only determinant of bitcoins value could only ever be what someone is willing to pay for a bitcoin at any giving moment in time. If someone was to 'fix' bitcoin's price, is would no longer be open and decentralized. very true.... |
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Beliathon
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April 03, 2014, 08:08:35 AM |
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It was 100% naive to think that Bitcoin would have been allowed to operate in China in the first place.
Their government is Communist. It's centralized hell over there. Fixed that for you. stupid or not, price going down, im not worried, will wait Me, too. Back when I purchased my first few BTC, I had to wait months to see the value do anything but go down. Believe me when I say my patience and discipline paid off. Over all the POBOC makes china-people poor people. PBOC right now destrois the wealth of chinese citizens and on top of it criminalizing those that will not bow down to the misery. From the peoples standpoint it is the worst. Many honest chinese people are ruined by that zombi-bank Absolutely correct, and the political ramifications (rage of millions of Chinese who lost out on all that wealth) in China when BTC returns to 1,000 will tear that country in half. Watch. China was already overdue for a revolution, this will almost certainly be the straw that breaks the camel's back. Once the people realize how badly they got fucked by their own obedience to tyrants and fools... God help them. |
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jesse11
Sr. Member
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Activity: 333
Merit: 250
Ants Rock
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April 03, 2014, 08:10:48 AM |
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It was 100% naive to think that Bitcoin would have been allowed to operate in China in the first place.
Their government is Communist. It's centralized heaven over there.
funny how 'communism' never works out for 'the people' ... well actually not funny Yet, most people in the US, young hipsters, seem to never figure that out. Old hipsters on the other hand... Fought for this Nation, Love this Nation & Will Never be Forgotten! YEAH! |
Mining with: BE's,BE Cubes, K16's, AntMiners U1's and AntMiners S1's
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zolace
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April 03, 2014, 11:41:45 AM |
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Banks will fail, its up to us to support them, they need us. The governments need them more
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Domino
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April 03, 2014, 11:47:30 AM |
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how stupid it is that a central bank (PBOC) can exercice such a power over bitcoinprices without even dumping themselves?
This selloff is actually pretty hillarious.
'central bank controls bitcoin price'
such fail
They have no choice. Their own currency is over-manipulated by the government. The fact that they started to ban bitcoin in China is a very good sign: without real threat they will not bother. First they ignore you, then they laugh at you, then they fight you, then you win.  |
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polarhei
Sr. Member
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Activity: 462
Merit: 250
Firing it up
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April 03, 2014, 02:52:17 PM |
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Central banks try to push bad messages to get in, This has been doing for years even we are not discussing bitcoin.
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Beliathon
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April 03, 2014, 03:03:55 PM |
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Central banks try to push bad messages to get in, This has been doing for years even we are not discussing bitcoin.
Yep. FUD = Fear, Uncertainty, and Doubt. Psychological warfare 101. |
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