Bitcoin Value Sinks After Chinese Exchange Move
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Re: Bitcoin Value Sinks After Chinese Exchange Move
#2>"It is not issued by a central monetary authority, it does not have the properties of legal currency and it is not a currency in the real meaning of the word."
Certainly an amusing quote, given the extensive actions to stop the spread of such a non-threatening non-currency.
By "ban", I assume they mean "made illegal." The former of course being a euphemism for the latter. A couple questions come to my mind as such.... How will China enforce such a ban? Can China physically or technologically bar access to Bitcoin deposits?
Regardless of the Chinese government's ability to effectively enforce such a ban, the price of Bitcoin has taken a noticeable dive.
Re: Bitcoin Value Sinks After Chinese Exchange Move
#3>"It is not issued by a central monetary authority, it does not have the properties of legal currency and it is not a currency in the real meaning of the word." Certainly an amusing quote, given the extensive actions to stop the spread of such a non-threatening non-currency. By "ban", I assume they mean "made illegal." The former of course being a euphemism for the latter. A couple questions come to my mind as such..…
> the price of Bitcoin has taken a noticeable dive.
Don't judge on one day. Wait for a week, 10 days before making conclusions on the price of Bitcoin. Bitcoin has shown to be pretty resilient to news that were considered bad by the media. We'll see.
Re: Bitcoin Value Sinks After Chinese Exchange Move
#4China is afraid. Bit-coin is an unregulated way of moving money out of China and they are known for keeping the movement of money in and out of china under very strict control.
The only way of regaining this control is by forcing all major companies to ban bit-coin.
You think the companies are happy about this they were making a very nice profit from the transactions.
Re: Bitcoin Value Sinks After Chinese Exchange Move
#5>"It is not issued by a central monetary authority, it does not have the properties of legal currency and it is not a currency in the real meaning of the word." Certainly an amusing quote, given the extensive actions to stop the spread of such a non-threatening non-currency. By "ban", I assume they mean "made illegal." The former of course being a euphemism for the latter. A couple questions come to my mind as such..…
> the price of Bitcoin has taken a noticeable dive. Don't judge on one day. Wait for a week, 10 days before making conclusions on the price of Bitcoin. Bitcoin has shown to be pretty resilient to news that were considered bad by the media. We'll see.
> Wait for a week, 10 days before making conclusions on the price of Bitcoin
My conclusion is that it's pretty fucked up [1].
Nov 15 $US430
Nov 22 US$843
Nov 29 US$1137
Dec 6 US$552
Dec 13 US$869
Dec 18 US$584
Pick one of those dates before today and imagine saying "wait for a week ... before making conclusions on the price of Bitcoin".
Re: Bitcoin Value Sinks After Chinese Exchange Move
#6>"It is not issued by a central monetary authority, it does not have the properties of legal currency and it is not a currency in the real meaning of the word." Certainly an amusing quote, given the extensive actions to stop the spread of such a non-threatening non-currency. By "ban", I assume they mean "made illegal." The former of course being a euphemism for the latter. A couple questions come to my mind as such..…
> the price of Bitcoin has taken a noticeable dive. Don't judge on one day. Wait for a week, 10 days before making conclusions on the price of Bitcoin. Bitcoin has shown to be pretty resilient to news that were considered bad by the media. We'll see.
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Re: Bitcoin Value Sinks After Chinese Exchange Move
#7China is afraid. Bit-coin is an unregulated way of moving money out of China and they are known for keeping the movement of money in and out of china under very strict control. The only way of regaining this control is by forcing all major companies to ban bit-coin. You think the companies are happy about this they were making a very nice profit from the transactions.
Right. China still has currency controls on the RMB. Makes it a pain for me to move it out of China en masse, not that I've tried yet.
Re: Bitcoin Value Sinks After Chinese Exchange Move
#8Earlier quoted context omitted.
> the price of Bitcoin has taken a noticeable dive. Don't judge on one day. Wait for a week, 10 days before making conclusions on the price of Bitcoin. Bitcoin has shown to be pretty resilient to news that were considered bad by the media. We'll see.
> Wait for a week, 10 days before making conclusions on the price of Bitcoin My conclusion is that it's pretty fucked up [1]. Nov 15 $US430 Nov 22 US$843 Nov 29 US$1137 Dec 6 US$552 Dec 13 US$869 Dec 18 US$584 Pick one of those dates before today and imagine saying "wait for a week ... before making conclusions on the price of Bitcoin". [1] https://coinbase.com/charts
Interesting, you already have the dec 18 value while the day is far from over. You have a strange way to pick up numbers.
Re: Bitcoin Value Sinks After Chinese Exchange Move
#9Earlier quoted context omitted.
> Wait for a week, 10 days before making conclusions on the price of Bitcoin My conclusion is that it's pretty fucked up [1]. Nov 15 $US430 Nov 22 US$843 Nov 29 US$1137 Dec 6 US$552 Dec 13 US$869 Dec 18 US$584 Pick one of those dates before today and imagine saying "wait for a week ... before making conclusions on the price of Bitcoin". [1] https://coinbase.com/charts
Interesting, you already have the dec 18 value while the day is far from over. You have a strange way to pick up numbers.
That price seems way high indeed. But I think the point still stands.
Re: Bitcoin Value Sinks After Chinese Exchange Move
#10In April, I watched the price of bitcoin every day. When it approached $200 I said "f*ck it," took out a student loan and bought in at $225. The VERY NEXT DAY the price collapsed. I watched bitcoin slide to $50 in a state of complete and utter devastation. I felt so stupid. I decided not to sell, and just considered the loan to be a write-off.
Point being, you should assess the quality of your investment in years, not hours. And in regards to the Chinese government, allow me to quote Mahatma Gandhi:
> first they ignore you, then they laugh at you, then they fight you, then you win.