I am so over this never ending story.... Its been known for the last 2-3 months for fuck sake
Fuck the chinese and the horse they rode in on BITCOIN > CHINA
Why do we need them ...really ...just like gox, disappear and be done with it
I agree ... but we must know that China was a huge part of Bitcoin society ...
I guess 50% traders were from China ...
But I think so too! We do not need them. And I am 99% they will never abandon Bitcoin ship x)
AFAIK around 60% of volume was Chinese
So 400-500 would be the neutral China free price. However there was Gox, and there is a lot of emotion now, we could go as low as $260-270, back to the old high last year.
That high of 266, btw., was achieved without almost any Chinese speculation at all.
And infrastructure is much, much better now. THE FALL FROM 266 TO 50 WAS BECAUSE OF MTGOX TRADING ENGINE DELAY REMEMBER?
I wish there was good info on how much BTC is actually owned/sold by Chinese and how much of this drop is caused by Westerners panic selling