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maurya78
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September 27, 2014, 03:20:57 PM |
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This is a pretty far fetched theory
Most Ali baba investors are large money manager and fin institutions that haven't exactly yet locked down btc as an investment
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"With e-currency based on cryptographic proof, without the need to
trust a third party middleman, money can be secure and transactions
effortless." -- Satoshi
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jjacob
Legendary
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Activity: 1554
Merit: 1026
★Nitrogensports.eu★
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September 28, 2014, 02:06:51 AM |
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This is a pretty far fetched theory
Most Ali baba investors are large money manager and fin institutions that haven't exactly yet locked down btc as an investment
Possibly, wealthy investors are selling bitcoins and transferring their funds to money managers.  |
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bitsalame
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Activity: 714
Merit: 510
Preaching the gospel of Satoshi
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September 28, 2014, 05:57:22 AM |
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It is not related to the decline in bitcoins, but it has some kernel of truth in its concept.
While Alibaba didn't crash bitcoin prices, it might pump the bitcoin prices to unimaginable levels if Alibaba adopts it.
The world's trading volume is in China, and Chinese people don't give a shit about the US or the rest of the world.
Before, every time there was a very encouraging news from the US, the prices reacted accordingly rationally.
These days, especially after the fall of MtGox, 85% of the worlds volume in trading are spread in the Chinese exchanges (OKCoin, BTCChina and Huobi).
It is not about mainstream adoption anymore, it is about Chinese adoption.
I bet that the markets would have reacted much favorably if instead of Paypal it was Alipay making the announcement of accepting bitcoins.
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ivonna
Full Member
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Activity: 139
Merit: 100
www.secondstrade.com - 190% return Binary option
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September 29, 2014, 03:39:23 AM |
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It is not related to the decline in bitcoins, but it has some kernel of truth in its concept.
While Alibaba didn't crash bitcoin prices, it might pump the bitcoin prices to unimaginable levels if Alibaba adopts it.
The world's trading volume is in China, and Chinese people don't give a shit about the US or the rest of the world.
Before, every time there was a very encouraging news from the US, the prices reacted accordingly rationally.
These days, especially after the fall of MtGox, 85% of the worlds volume in trading are spread in the Chinese exchanges (OKCoin, BTCChina and Huobi).
It is not about mainstream adoption anymore, it is about Chinese adoption.
I bet that the markets would have reacted much favorably if instead of Paypal it was Alipay making the announcement of accepting bitcoins.
I sure hope this is not true as China is starting to take active measures to prevent people from using bitcoin (see the threads about china blocking access to this forum via their DNS servers). I do agree with your conclusion that Alibaba likely did not cause the price of bitcoin to decrease as people who were hoping to try to invest in Alibaba would have probably sold their bitcoin several weeks ago in anticipation of being able to buy via the IPO or shortly thereafter |
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bitsalame
Donator
Hero Member
Offline
Activity: 714
Merit: 510
Preaching the gospel of Satoshi
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September 29, 2014, 04:21:51 AM |
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It is not related to the decline in bitcoins, but it has some kernel of truth in its concept.
While Alibaba didn't crash bitcoin prices, it might pump the bitcoin prices to unimaginable levels if Alibaba adopts it.
The world's trading volume is in China, and Chinese people don't give a shit about the US or the rest of the world.
Before, every time there was a very encouraging news from the US, the prices reacted accordingly rationally.
These days, especially after the fall of MtGox, 85% of the worlds volume in trading are spread in the Chinese exchanges (OKCoin, BTCChina and Huobi).
It is not about mainstream adoption anymore, it is about Chinese adoption.
I bet that the markets would have reacted much favorably if instead of Paypal it was Alipay making the announcement of accepting bitcoins.
I sure hope this is not true as China is starting to take active measures to prevent people from using bitcoin (see the threads about china blocking access to this forum via their DNS servers). I do agree with your conclusion that Alibaba likely did not cause the price of bitcoin to decrease as people who were hoping to try to invest in Alibaba would have probably sold their bitcoin several weeks ago in anticipation of being able to buy via the IPO or shortly thereafter That was precisely my point. China is the protagonist here, whatever happens in China will be strongly reflected in the overall bitcoin price because they own 85% of the world's volume. |
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cbeast
Donator
Legendary
Offline
Activity: 1736
Merit: 1006
Let's talk governance, lipstick, and pigs.
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September 29, 2014, 04:25:59 AM |
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It is not related to the decline in bitcoins, but it has some kernel of truth in its concept.
While Alibaba didn't crash bitcoin prices, it might pump the bitcoin prices to unimaginable levels if Alibaba adopts it.
The world's trading volume is in China, and Chinese people don't give a shit about the US or the rest of the world.
Before, every time there was a very encouraging news from the US, the prices reacted accordingly rationally.
These days, especially after the fall of MtGox, 85% of the worlds volume in trading are spread in the Chinese exchanges (OKCoin, BTCChina and Huobi).
It is not about mainstream adoption anymore, it is about Chinese adoption.
I bet that the markets would have reacted much favorably if instead of Paypal it was Alipay making the announcement of accepting bitcoins.
I sure hope this is not true as China is starting to take active measures to prevent people from using bitcoin (see the threads about china blocking access to this forum via their DNS servers). I do agree with your conclusion that Alibaba likely did not cause the price of bitcoin to decrease as people who were hoping to try to invest in Alibaba would have probably sold their bitcoin several weeks ago in anticipation of being able to buy via the IPO or shortly thereafter That was precisely my point. China is the protagonist here, whatever happens in China will be strongly reflected in the overall bitcoin price because they own 85% of the world's volume. ZOMG! This is yet another China Banned Bitcoin thread! To the Moon! |
Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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seattlenonsmoker
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September 29, 2014, 06:34:03 PM |
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Bitcoin is crashing because normal people can't obtain BTC beyond gambling with their hard earned fiat money. People that buy BTC are most of the time already FIAT wealthy, so this doesn't help as we need 99% acceptance. The 99% don't buy gold, which is the use that most bitcoin buyers are giving to BTC, a sort of an electronic asset, not a currency.
Usually gold is transferred as an electronic currency as well. When is the last time you have "bought gold" and received any in the mail, coins aside? |
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seattlenonsmoker
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September 29, 2014, 06:35:00 PM |
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It is not related to the decline in bitcoins, but it has some kernel of truth in its concept.
While Alibaba didn't crash bitcoin prices, it might pump the bitcoin prices to unimaginable levels if Alibaba adopts it.
The world's trading volume is in China, and Chinese people don't give a shit about the US or the rest of the world.
Before, every time there was a very encouraging news from the US, the prices reacted accordingly rationally.
These days, especially after the fall of MtGox, 85% of the worlds volume in trading are spread in the Chinese exchanges (OKCoin, BTCChina and Huobi).
It is not about mainstream adoption anymore, it is about Chinese adoption.
I bet that the markets would have reacted much favorably if instead of Paypal it was Alipay making the announcement of accepting bitcoins.
Why exactly would Alibaba adopting it bump the prices to unimaginable heights? |
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JessyMatt (OP)
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September 29, 2014, 09:36:39 PM |
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Just too much miner selling their bitcoin...
Miners selling their bitcoins to invest in Alibaba IPO. My point exactly in the article. |
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Spoetnik
Legendary
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Activity: 1540
Merit: 1011
FUD Philanthropist™
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September 29, 2014, 10:21:11 PM |
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this was announced on National news 1 year ago.. so how is it causing a crash right now ?
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FUD first & ask questions later™ |
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Zanywing
Newbie
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Activity: 3
Merit: 0
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September 29, 2014, 10:54:14 PM |
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I would have never really that these two would correlate together, very interesting.
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waterpile
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September 30, 2014, 04:02:08 AM |
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A more opinions and speculations without proof. Just visiting the article you can determine it that its not a legit source
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zyzzbrah
Member
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Activity: 84
Merit: 10
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September 30, 2014, 04:27:57 PM |
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Even chinese capital, who holding a handful of Bitcoin is few, so the number of sold Bitcoin will not be increased much, and the price will be continued to fall.
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trattrat
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October 01, 2014, 07:26:08 PM |
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Supply and demand folks. Not alibabas IPO.
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wangxinxi
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October 25, 2014, 10:35:28 AM |
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causality vs correlation
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calchuchesta
Member
Offline
Activity: 124
Merit: 11
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October 25, 2014, 12:58:58 PM |
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Supply and demand folks. Not alibabas IPO.
Supply and demand can be manipulated and give false impressions. |
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Q7
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October 25, 2014, 01:12:22 PM |
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Why not? If I'm a miner holding onto large stash of btc and not knowing what would happen with a rather bleak forecast, i would take the chance and diversify to buy alibaba ipo instead. One month down the road in october, I'm pretty sure I've made the right decision.
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pattu1
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October 26, 2014, 05:10:24 AM |
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Why not? If I'm a miner holding onto large stash of btc and not knowing what would happen with a rather bleak forecast, i would take the chance and diversify to buy alibaba ipo instead. One month down the road in october, I'm pretty sure I've made the right decision.
A number of IPOs come and go. These miners that you talk about could have diversified into the stock market at any point in time. They didnt have to wait for the Alibaba IPO. |
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BootstrapCoinDev
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October 27, 2014, 08:56:13 PM |
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What is Alibaba? It is a PURE Chinese stock, fully controlled by Chinese Government Authority that is also well-known for banning Bitcoin, with unsure rulings any time. So the stock is partially controlled by the government, not fully by the markets, especially Alibaba's backup (Jiang-family江系) is subject to sanction by the current President (Xi DaDa). The conclusion: Do NOT hold this stock for long time.
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