Poll: Will we drop to sub $400 today? Inside info about GABI shorting BTC?

[JorgeStolfi]

The lack of new bad news (since April) from China puzzles me. But maybe the PBoC wants the bubble to deflate gracefully, to avoid social unrest.

I don't think that the PBoC is paying attention to bitcoin anymore.  They have blocked all uses that could matter to them, namely as currency of commerce, as investment instrument, and as alternative to official banks.  Bitcoin in China is now just a gambling tool -- and the PBoC does not care about gambling.

If Chinese citizens use bitcoins to move their money out of China, that is actually good for China's economy because it means that foreigners who buy the worthless bitcoins from the Chinese for dollars are paying for their citizens' expenses abroad.  The reverse traffic (foreigners selling bitcoins at the Chinese exchanges and withdrawing the CNY) must be too small to worry.

Other Chinese government agencies may still be worried about uses of biitcoin for illegal commerce, bribery, subversion, etc..  The consumer protection entities may be worried about people believing in moontalk and losing their savings.  However, those agencies already forced the exchanges to use strict KYC/AML procedures, and forbade them to aggressively market bitcoin to the public.  Presumably they are satisfied with the status quo too.

[romerun]

must be the newegg labor sale

[counter]

It is amazing how a period of stagnation can suddenly correlate to the long term failure of Bitcoin...    
I'm truly impressed by the approach and timing of these threads but the lack luster amount of facts given by the OP is just too much for me to ignore.  Even if the price goes to $400 so what?  What has been proven other then a predicitoin for a single day?  Don't people deserve more information then OP is willing to give them in order to be taken seriously?

[DeadCoin]

Death of bitcoin is inevitable, but timing is hard to predict. It could be hours, days, maybe even weeks before it finally collapses.

[exocytosis]

Isn't Coinbase or something pulling a Gox as well?

I've been offline for a couple of days. I just logged on and noticed that BTC had crashed again, thus activating and filling a buy order I foolishly had placed a bit too high, since I've been way too bullish on Bitcoin lately.


EDIT: Phew ... I was wrong. My order was actually placed a bit lower than I thought, just barely low enough to not be activated. So I'm gonna pull it now, and place it somewhere sub-400 instead, since we're going very low near-term, due to the impending collapse of Coinbase and several other BTC entities.

[sx100]

Isn't Coinbase or something pulling a Gox as well?

I heard they recently ran out of bitcoins, but I've not heard anything about them pulling a Gox. Where did you hear that?

[lyth0s]

Isn't Coinbase or something pulling a Gox as well?

I heard they recently ran out of bitcoins, but I've not heard anything about them pulling a Gox. Where did you hear that?

So many newbie account bears & trolls are being made. My only question in regards to them all is how many are owned by falllling?

[Beliathon]

Bitcoin will never again drop below $425 for more than a few seconds at a time.

[falllling]

any one think that GABI is going to short bitcoin with their $200 million dollars?

[fonsie]

any one think that GABI is going to short bitcoin with their $200 million dollars?

NO, it is confirmed by a source inside GABI.

[sx100]

20% in one day? Who on earth would bet on something like this happening?

Somebody stupid like fallling, that's what he did and now he's talking or at least he's trying to talk the price down, so he can buy as much BTC with the money he got from picking up cans at the side of the road.

How much can you earn by picking up cans at the side of the road? There is a guy round our way who does it.

[nemo]

If we see $200 itll only be for a second. Too many of us would sell everything that we own and buy as many bitcoins at that price as we could. Then again, china gave us our most massive pump. They're also the biggest miners and could give us the biggest squeeze. I wouldn't mind a few months of a $200 bitcoin.

[kutaka]

If we see $200 itll only be for a second. Too many of us would sell everything that we own and buy as many bitcoins at that price as we could. Then again, china gave us our most massive pump. They're also the biggest miners and could give us the biggest squeeze. I wouldn't mind a few months of a $200 bitcoin.

Same here. Sometimes I think that I wouldn't mind if 200$ were kept until next halving. I always wanna cry when I see how much money is pumped into mining, with reduced rewards maybe some miners would switch off and some shady asic companies would fall.

[sx100]

If we see $200 itll only be for a second. Too many of us would sell everything that we own and buy as many bitcoins at that price as we could. Then again, china gave us our most massive pump. They're also the biggest miners and could give us the biggest squeeze. I wouldn't mind a few months of a $200 bitcoin.

Same here. Sometimes I think that I wouldn't mind if 200$ were kept until next halving. I always wanna cry when I see how much money is pumped into mining, with reduced rewards maybe some miners would switch off and some shady asic companies would fall.

When is the next halving likely to be?

[exocytosis]

Isn't Coinbase or something pulling a Gox as well?

I heard they recently ran out of bitcoins, but I've not heard anything about them pulling a Gox. Where did you hear that?

So many newbie account bears & trolls are being made. My only question in regards to them all is how many are owned by falllling?

We're all owned by Goldman Sachs and JP Morgan Chase. And The Fed.

[exocytosis]

Too many of us would sell everything that we own and buy as many bitcoins at that price as we could.

Last November, people said the same thing about sub-800 prices as well. Look at the situation now. BTC can't even sustain a price above 500. Too much selling and way too little buying happening.

If we get to 200, those who currently are bulls won't do much buying. Instead, they'll panic sell every bitcoin in their possession.

[Tzupy]

...
If we get to 200, those who currently are bulls won't do much buying. Instead, they'll panic sell every bitcoin in their possession.

Possible. And I'll buy.

[WhatTheGox]

silly people never learn btc goes up always

[minerpumpkin]

So, we're still well above $400 it seems! I guess we can close that poll now, since it didn't happen - as expected. Also, I guess there are no news about GABI, are there? Guess them shorting is rather an interesting conspiracy theory, than an actual possibility.

[falllling]

So, we're still well above $400 it seems! I guess we can close that poll now, since it didn't happen - as expected. Also, I guess there are no news about GABI, are there? Guess them shorting is rather an interesting conspiracy theory, than an actual possibility.

POLL closed, i think they are already shorting with a part of their fund