Come on bears! Weak!!!

Breaking news... bitcoin not banned in china

http://finance.china.com.cn/news/special/boao2014/20140411/2327233.shtml

Excerpt:
China Network Finance April 11 news (reporter Zhang Qian) noon today, the central bank governor Zhou Xiaochuan participate in Boao Forum on the future of the central bank. Zhou Xiaochuan on the forum, said the central bank was not actually bitcoin start, not to mention what banned. But Zhou said his concern is that "Bitcoin is an energy asset transactions, not quite like the currency of payment, such as stamps and the like, are mainly collections."
　　He said that as trading assets. Bitcoin is not part of our jurisdiction, there is no ban issue.

Seems like the chinese are taking the statements to heart though.

Today something dawned on me:

We can actually start seeing signs of "sellers' exhaustion" in volume and price action, but what is fascinating is that, different from the previous cycle, there is no sign yet of "buyers' appetite" re-appearing correspondingly.

https://www.okcoin.com/t-1008417.html

OKCoin will suspend construction of the bank card business and plans to suspend construction progress announcement OKCoin bank card business and plan progress Announcement Dear OKcoin users : This afternoon around 15:50 , OKCoin Branch received a phone call to the Construction Bank: the higher authorities should be required CCB will be suspended for the OKCoin provide services. Subsequently, we conducted in-depth communication with the bank immediately after issuing this Announcement . Communication with the bank details are as follows : (1) the branch of China Construction Bank to receive notice of the higher authorities , the suspension is OKCoin branch of service on the ground , requiring at 16:00 pm on April 18 off households. 2 This notice is oral notice , Branch not received any written document . 3 user banks Katy is not affected. 4 other banks recharge unaffected. Details about the bank card recharge pause : OKCoin be 10:00 am on April 18 officially stopped using the account recharge Branch of China Construction Bank to other banks temporarily affected, users mention now everything is normal , there will be the first news OKCoin time release. OKCoin as Bitcoin investor attention and trust of the professional trading platform, we have been proactive response program to prepare all kinds of emergencies , as far as possible to protect the interests of investors affected. We know that this notice is issued, the parties will have been severely criticized ; But as a platform , we can only be impartial , timely and efficient . We all know that domestic policy adjustments Bitcoin market will certainly have an impact , but we also know that Bitcoin is a prairie in the world , and today we are " a bit of people ." Currently emergency plan follows the progress : 1, OKCoin are communicating with more financial institutions , to build more recharge channels. 2 , recharge code Bye recharge service agents will soon be published . 3, OKCoin overseas operations teams are helping to complete the construction technology overseas stations. OKCoin together bits of marine launched " Bitcoin vending machines ' upcoming production .

So all the announcements today seem to be about this "Construction Bank of China". How about the others banks? These exchanges use multiple banks, do they not?

I was wondering, every Chinese exchange gets their bank acocunts closed, but BTC-China does not have that problem at all?  

I mention this because Bobby Lee keeps saying that it is just business as usual for BTC-China. So you think that they will get away with just creating ATMs? BTW that BS ATM of BTC-China can only be used to buy BTC and not withdraw, how awesome is that?

Let me guess .. the dip is again based on some chinese story?
Is this the chinese version of 1001 stories?

There is no "China ban" their government already stated that there won't be a BTC ban, they want people to trade, the banks are just backing off.
Don't repeat FUD.

this is my non biased day trading approach.   in case it is a bear flag. also break below 490 would be a pretty strong bear signal.

too far too fast. I think a bounce up to 480 is possible and, by my eyes likely.

Because it is the end of Chinese pump era, this time Confirmed!

That may be one reason why Chinese bears are dumping now - perhaps hoping to buy back at much lower price?

EDIT: anyway, for transaction to occur, we need a buyer - and CNY on Huobi . So far the volume there is still nominally high, if true.

That is my understanding too.

Even if all "easy" deposit channels are cut off, I imagine that there will be ways to get money into the exchanges, e.g. taking cash to their offices.  Perhaps even after May 10.

Arbitrage seems to be a lucrative activity for those who have the skills and tools, so they have enough motivation and money to find a way.

I made a small edit. See above.

30 days not 90. 90 is stupid and isn't a bet at all. Don't be typical.

\
fail 

From OKCoin, via http://www.reddit.com/r/BitcoinMarkets/comments/243j3p/how_are_huobi_okcoin_deposit_funding_currently/


And  Huobi apparently has been offline since 01:00 am local time, now it is Monday 07:00 am.

EDIT: some claim that Huobi's catatonia it is a Bitcoinwisdom bug.

How the fuck he lost the bet?

Educate yourself kid... You're not that bright

It's still 28 days left
If you're so lit up on risto that you quote him, I would assume you would read the bet conditions

on another note: pulled my $425 order

Not sure where this is going to be honest

Date: 03.27.2014 17:17

Ignored.

Is there any news?

Of course the bet wasn't finalized. Have you EVER seen Rpeitila actually put his money where his mouth is? You've been here longer than any of us.

Those quotes that were posted of me from months ago - that was a different me. I had only experienced the bull market - I got involved in September. I was caught up in the fever.

Now I am getting to experience the bear. This has been an excellent experience for me.

If we are all lucky enough to see another bull market - if bitcoin does succeed (who knows?) - then I will be greatly prepared to capitalized off of it both ways.

I should have sold at 1100. I should have shorted all the way down.

I was too naive to do so and it cost me millions.  

Not anymore.

There is more suffering to come people. Bitcoin went up 3000% last year. 2014 is a year for pain.

If I were to guess, we are going to reach a point in the next 6 months where the very survival of bitcoin will come into question - not because if we drop to 260 or below that it actually means anything - but because people will perceive it to me so much - miners will panic, VCs will panic, companies will tout other altcoins.

And that will be the time to buy. Although, without China, we won't see 3000% annual gains anymore. That was a special case.

Small partners about bitcoin China suspended all news withdrawals are false news Bitcoin Chinese recharge and withdrawals everything is normal. If you need help, please call customer service phone 400-664-3033

Btw, Houbi's chart looks horrible. (Its finally working on bitcoinwisdom though!). We made new lows today and the 50% fib is acting like resistance. It seems almost inevitable that we see 2500 soon.

If there is no bad news in China why is Houbi breaking down through support?

I had to short some more. Just to obvious that we will see more downside.

Who knows, maybe I am wrong.

https://twitter.com/btcchina/status/460638991629307904

BTC China news

Look. Isn't it kinda of obvious that its just a matter of time now before deposit options are completely are almost completely eliminated?

These exchanges are destined to move offshore.

"BTC China ‏@btcchina  4m
@Quiontron Hi, we are still accepting deposits from Bank of China. All withdrawals are not affected. Thanks."   

I just found this item:
http://www.wired.com/2014/04/darkmarket/

Slightly bullish for adoption if someone really takes off with it.  A more secure Silk Road.

Huixa bans btc

http://www.hxb.com.cn/chinese/callcenter/show.jsp?cid2=691118&id=13986536615280489

withdrawals of funds, purchase and sale of recharge codes related transactions and other activities not through my bank account funds transfer related transactions. Once found, the bank is entitled to take account transactions related to the suspension, cancellation related accounts and other measures.

Interesting. I have read exactly the same notice from 1 3rd party processor and 2 banks. It is a canned statement written by the PBOC

450 bid btc wall gone in minutes. During a rally!

So now we go up slowly until chinese decide to ban some more stuff tomorrow?

Recently, reporters from Hyflux entertainment game's official website informed that the company recently completed a large international Bitcoin transaction again from the international trading market Bitcoin Bitcoin purchased twenty thousand again, coupled with previously acquired two pieces at the beginning of the bit currency, its total to forty thousand, equivalent to more than 120 million yuan.

if they sold 380,000 btc for 3m, that would be $12 each. - must be a portion, or Im missing out on some seriously 'cheap coins'

+1 Same goes for 200,000 Gox BTCs to be liquidated.

And US goverment has now more than  500,000 BTC ?!? 30+k from Silk Road, 130+ personal Ullbricht stash plus 385k from this new drug dealer?

In recent postings, you have become quite intense in your FUD spreading.    

Your above post is filled with many unfounded assumptions.   Coins would have to be sold for much below market rate before there would be an incentive to dump.  I do NOT see whey the GOVT would sell BTC below market rate unless there is some kind of collusion.. .for example selling to some big bank that wants to bring down the BTC market.

Stamp too

Anyone read that Gox is being saved? or am I being trolled

http://www.marketwatch.com/story/mt-gox-stakeholders-to-try-reviving-exchange-2014-04-29#

So in other words China is effectively going to ban Bitcoin, I mean finally getting it over with.  

Is this the day we have been waiting for, when the FUD comes and nobody cares? sell the rumour, buy the news.

RE: CCB "Declaration on the Prohibition of the use of my bank account for Bitcoin transactions."

Hello, my colleagues have been responsible for the company and related verified. No problem, our account hasn't been cancelled. Please rest assured.

Find specific accounts being used for bitcoin trading and then cancelling them is a task ahead of them that they have to do work for and perform. However, it is easy to simply post a statement. The May 10 deadline I believe is just a deadline to make statements and not actually close accounts.

Great. So this shit can continue a few more months.

I don't know why exactly this is happening but i do know if they really wanted to stop this they could ban Bitcoin now and close all related bank accounts. But they won't because someone has an agenda here and is probably making a lot of money.

Where was this posted? (Is it indeed from OKCoin?)

Traders are sheep to the charts. That's the only reason we are going down right now. Nothing has changed and there is no reason to dump, just someone trying to get a jump on a downtrend that may never come. They will just have to buy back at a loss like 99% of traders.

If Houbi breaks down below 2750 and that begins to act as resistance, then things will start to get real bearish, imo.

Tera predicting a big drop   Well if you say the same thing every single day month after month you'll one day be right.
Obsessive compulsive disorder.

Huobi will need license check to run their business in 5 days. The 2013 document states that e-commerce platforms such as huobi will need transaction monitoring to keep platform features online to prevent money laundering, however this could be rumors, news source is not confirmed,

I wish you all the best.

I'm wondering - the Chinese are now up already for ~3hours and we ain't crashing yet... What's different today?

I can't find any new facts about China; only news, such as these:

International Business Times, 2014-05-13:
Chinese Bitcoin Exchanges Planning to go Offshore to Escape PBOC Crackdown
http://www.ibtimes.co.uk/chinese-bitcoin-exchanges-planning-go-offshore-escape-pboc-crackdown-1448335
"Leon Li, founder and CEO of Huobi [said:] 'We don't want to touch the customers' money in China, because maybe [regulation] is going to get worse'"

Want China Times, 2014-05-10
Trading platforms struggle as more banks ban bitcoin in China
http://www.wantchinatimes.com/news-subclass-cnt.aspx?id=20140510000119&cid=1102&MainCatID=11
"'If China maintains tough regulatory policies, the price of bitcoin will definitely keep dropping, 'said Du Jun, co-founder of Huobi. [ ... ] Li Qiyuan, CEO of BTC China, said more exchanges may close down in the future."

Yet, looking at the charts, it seems that the Chinese traders are growing more confident, gradually.  It is the "plane didn't crash yet, perhaps there is no ground below" syndrome?

On the other hand, I understand that some customers of FXBTC are furious because the exchange shut down at 24:00 of May/09 instead of 00:00 of May/10, as they had announced:
http://bitcoinnewsbrief.com/blog/2014/05/14/shutdown-of-chinas-fxbtc-exchange-leads-to-customer-outrage/
 

Why not? I mean, nobody is asking "why the pump?", why do we need a special reason for the dump? Just basic laws of demand and supply - apparently not enough buyers atm at Huobi to support the current price. Knowing Huobi, 15 mins from now it can change dramatically again  

You never heard of bitstamp?  When I first heard of btc (some guy lost a harddrive) I googled bitcoin and I think bitstamp was the first thing I clicked on (to get the price).

As far as bitstamp, enter it into the search box.  There are some reviews.

Appears related to this, per btc-e trollbox:


MarketQ          PBOC to create a special banking unit for the funding of bitcoin exchanges
MarketQ          China Exchange moving oversees
MarketQ          Chinese offshore Yuan available for trading... if you were wondering why its rising, Chinese offshore Yuan available for trading, thats why.

You're just pissed you don't have any more negative China "rumors and bullshit" to post.

Because you said that you loved posting those topics, which makes you a dick IMO.  That's great that you get some BS Chinese news feeds.  Whats even better is that you can't even read Chinese and rely on Google translate when a number of native Chinese speakers have warned that doing so is quite dumb.  

Edit:  And using "facts u dislike" for FUD is almost as stupid as "hodl", neither of which earns the user respect in my book.

May be you should reconsider  

Trying to catch a peak seems just as dangerous as trying to catch a falling knife, especially when the price has risen 1% in the last minute

Oh --- off. You were crying down yesterday; now its up and back down to where it was and you're saying "BAD SIGN " as if you arent totally biased.

Nevermind

What happened to doge? 592? Is that a glitch?

Someone is trying really hard to stop the price from climbing, I mean a 1400BTC sell wall, why would you sell at $550 when there's a rally going on?

Really?  We could easily pop to $650/$700 and it would be nothing compared to Nov/Dec.  I wouldn't consider this some huge rally (from the bottom).  We were at double this 5 months ago.

He doesn't want to sell at $550, he wants to buy all the coins other people put below his wall.

Its BTC1,616 exactly on Bitstamp

Where is that ripple shill troll at now?

any chance we could get a human translation? or just a summary?

thanks

From Google Translate, I can't see any relevance to bitcoin at all.

hasn't china's actions been muted by now? they have cried wolf way too many times. i'm guessing the price reflects china's on/off stance with bitcoin, and the only way it can move the price by now is by making positive news for bitcoin. i guess they could release good news, and then grim again just to mess with the price.

mah87, whats the inside scoop on ripple (Jed bailing)? its crashing hard today, down over 43% according to http://coinmarketcap.com/xrp_7.html

You should start selling those pretty soon.

I found this interesting but why are you updating orders every 2 seconds and positions every 4 secs? I don't use orderbook so sorry if this seems like a dumb question.

Unrelated:
"We've come too far to give up who we are. So let's raise the bar and our cups to the stars." - Daft punk

I'm sorry, I should have been clearer when I said 'Bull trap'. What I meant was:
<humour>
Bull trap.
</humour>
I just figured the context made it as obvious as the trend reversal.

Ok, any 1 reason why the slide in btc today??? I don't have time to read up right now lol so just thought I'd ask

[img]http://upload.wikimedia.org/wikipedia/en/f/f1/Bob_Dylan_-_The_Times_They_Are_a-Changin%27.jpg[/mg]

Why?

This is not my doing. Its likely that the wall holder is setting up an even larger OTC deal, at least that's what I would do.