221–230 of 270 posts
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> It's a 24/7 market; the price responds a lot faster than other markets Weighted by volume or capital flow, most markets are 24/7.
Could you explain what this statement means?
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My guess is food safety. Not quite real food safety, but also not made up. Some European cheeses are not available in here Australia because of regulations about how dairy products have to be processed (Pasteurisation I guess). Not only might that logic work in China too, but the culture is less tolerant of a food-stuff what is after all curdled milk with a fungal infection. (And we in the west get grossed out by chi…
Food safety is a great way to backdoor agricultural import restrictions. Europe has been doing it for decades on GMO's.
Curious if this will have an impact on "liquid' domain names (3 letter .com domains). They spiked a few years back as a way to get money out of China, but slowed recently due to bitcoin being a better option. Would be interesting to see if that activity picks back up.
What's the going prize on 3L.com's right now? Say, a bad combination (Q, X, Y, V, etc.)? Last time I exited this market (2008), lowest tier 3L.coms were selling for $3k
From what I remember, the 3Ls were somewhere around 10-17k? Depending on premium v non-premium & specifically domains that are attractive to Chinese.
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Bitcoin is irrelevant, compared to still-tolerated and massively-more voluminous alternatives, for capital controls. This is a red herring. At one point all crypto had reached $160B in market cap. Not small at all and risked getting much larger. Lesson #1: if China wants something done they will do it. No courts, no public discussion, nothing. Don't be surprised if these execs end up in jail.
It's refreshing that a country can act this quickly even if we don't agree with the action. In many countries this would require several meeting of understanding, a dozen committees forming sub-committees, accusations of corruptions and biased interest and several related court cases, and endless other shit. IMO it's actually a very smart move, to ensure a fair and complete dissolution, and if those execs dont have t…
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What's the going prize on 3L.com's right now? Say, a bad combination (Q, X, Y, V, etc.)? Last time I exited this market (2008), lowest tier 3L.coms were selling for $3k
I have a 4 letter domain that sounds like a common word. What should I sell for?
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I think their point is that while most investors in e.g. equities (stocks) regard out-of-ours trading as "not counting" because it's a much smaller volume than in-hours trading, the amount of money that moves into or out of stocks in out-of-hours trading is still much larger than the amount that moves into or out of bitcoin (at any time). So it doesn't really make any sense to say that stocks are a 9-5 market and bit…
out-of-ours = out-of-hours, for any non-english speakers reading^. (not criticising you lmm, only trying to help)
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Just pointing it out... you don't need to mine the coins in the country to assist Indians (or anyone) in converting their currency to USD beyond the normal limits. So the price of power to mine the coins doesn't really have much to do with it.
How do you mean. So how can I buy bitcoins that aren't mined in India using INR. I probably will have to convert INR to USD by buying USD in India and then buy BTC using USD. No ? Some Indian BTC exchanges might be wrapping these transactions under the hood. No ?
So the PBOC is taking further steps to plug the leak. Not unexpected. China has exchange controls. Internal yuan cannot be easily converted to euros or dollars. There are limits on capital outflows. The controls are leaky; the classic leak is to send all your relatives to Hong Kong loaded up with the maximum allowed amount of yuan in cash. The current limit is about $50K/year/person. Small leaks are thus tolerated. B…
> Why China has tight exchange controls is beyond the scope of this discussion. What's a good resource on this?
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> It's refreshing that a country can act this quickly I'll remind you of how refreshing it is when I drag your family off the gulag without warrant. Its not "refreshing", its scary.
First off - no one has been dragged off, they are merely preventing the exchange operators (that are originally resident in China anyway) from leaving the country until they execute an orderly shutdown. i.e. No holidays for now, we don't want you doing a MarkK. Also, we are talking China here not NK, but don't let the facts get in the way of your point. Btw, you do have "temporary injunctions" in other parts of the w…
China is known for it, here's just one story from the other month https://www.theguardian.com/world/2017/aug/03/china-enforced... you can find plenty more if you look.
Chinese baby factories: http://www.mirror.co.uk/news/world-news/shocking-pictures-sh...
Citizens are also disappeared to provide transplants: https://en.wikipedia.org/wiki/Organ_harvesting_from_Falun_Go...
China is not a nice place, look at their internet crackdown as well.
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China breakdown on exchanges has begun before the ICO rage. Top exchanges did hold crpyto withdrawals for all their users for a long period of time (several months). I think it is a little bit of 1. China understanding the risks posed by bitcoin capital flight and 2. bitcoin turning from a small community to $100bn+ market thing. Needless to say this is about all crypto and not just bitcoin.
There's also the rumour that the exchanges are fractional reserve to a huge extent. I suspect that plays a role.
Cash on hand + Money people owe the bank >= Cash bank owes its customers.
If an exchange is operating in such a manner, this means that:
Cash + BTC on hand We don't call that a fractional reserve. We call it insolvency (And knowingly accepting new deposits in such an exchange is called 'Fraud.')