Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[BlindMayorBitcorn]

Just a little more off the top. I guess.

[danherbias07]

It's true this isn't a natural correction but bitcoin was having trouble getting over 4700.
Wouldn't have been surprised to see market go down from there, but not like that  

And they told before it had a  hard time going to 4000 and yet where is it.
They will always tell stories just for fun but the truth will happen and no one can stop it.
It will go the way it should be and that is up.
It had fall way above what we experiencing now and it still seems natural to me.

[JimboToronto]

so you think no bigger dive for this time ?? just bought few coins like 1 hour before the dip 

It seems to be consolidating for now but another PBoC or other announcement could send it into another panic at any time.

This is certainly not a time to sell but it's probably not a good time to buy either. I'm holding as always but I'm keeping an eye on the price with cash in hand.

[Meuh6879]

I'm pretty sure they will not ban Bitcoin.

Like always ... (layers of bureaucraty/idiocraty)

https://www.youtube.com/watch?v=LIQkuF_I5Xo

[podyx]

Why are we not recovering yet?

Perhaps heading further down?

[BitcoinNewsMagazine]

The end of the Cryptocurrency Exchange era in China (translation) - Google Doc

"... It’s important to note, this decision is to close all cryptocurrency to fiat currency exchanges, that is, to halt all exchanged based trading of bitcoin for RMB. But it does not halt all bitcoin and fiat trading outside of exchanges. Someone close to the leadership of the IFRG stated: “what is being closed is bitcoin exchanges, not bitcoin itself”. The same person emphasized, “this ban on exchanges and exchange activity won’t affect the development of blockchain technology.”

[gentlemand]

The end of the Cryptocurrency Exchange era in China (translation) - Google Doc

So they're really going for it according to that. I wonder what measures miners have in place to sell. I assume the proper ones have OTC deals but there must be some stragglers who'll have to get something in place.

I can't say I'll be too sad if China checks out.

[gembitz]

greyhound racing will be good for bitcoin    weeeeeeeeeeeeeeeeeeeeeeeeeeeeee

[DaRude]

The end of the Cryptocurrency Exchange era in China (translation) - Google Doc

So they're really going for it according to that. I wonder what measures miners have in place to sell. I assume the proper ones have OTC deals but there must be some stragglers who'll have to get something in place.

I can't say I'll be too sad if China checks out.

It'd be a great irony if China forces Chinese miners out   that'd be awesome, unfortunately I don't think they're that dumb, they more likely to subsidies BCC

[Ludwig Von]

The end of the Cryptocurrency Exchange era in China (translation) - Google Doc

So they're really going for it according to that. I wonder what measures miners have in place to sell. I assume the proper ones have OTC deals but there must be some stragglers who'll have to get something in place.

I can't say I'll be too sad if China checks out.

Bitcoin will be an export product for China... .

[Last of the V8s]

https://asktom.cf/index.php?topic=2148605.msg21493726#msg21493726

My quick and dirty translation of the notice:
...
3.   Reinforce coin, ICO exchange platform management
From today onwards, so called exchange platforms are not allowed to participate in exchange of fiat vs tokens, fiat vs crypto. They are also not allowed to buy/ sell as a centralised participant. Not allowed to provide pricing or information as an intermediary.
Any platform against these rules will have their website, mobile apps shut down and license to operate revoked.
...

so um that's good news for bitcoin, right?

just ignore me lol

[rjclarke2000]

Have the Chinese exchanges closed right now? Are they still doing business?

This can't be true surely. China shutting down exchanges...wtf.

Is this bullshit again?

[El duderino_]

so you think no bigger dive for this time ?? just bought few coins like 1 hour before the dip 

It seems to be consolidating for now but another PBoC or other announcement could send it into another panic at any time.

This is certainly not a time to sell but it's probably not a good time to buy either. I'm holding as always but I'm keeping an eye on the price with cash in hand.

Good thanks.....

[CristiTCM]

This isn’t the first time China is banning exchanges. Back in 2013, bitcoin dropped more than 50 percent as the government asked BTCChina to stop accepting deposits in Chinese yuan. The government changed its mind later on.
Do you thing something like that can happen now?

[Last of the V8s]

Just a little more off the top. I guess.

meh what comes down must er go up

anyhoo
http://www.columbia.edu/~jl4130/BTC.pdf sorry for pdf
An Economic Analysis of the Bitcoin Payment System

Bitcoin is not regulated. It cannot be regulated.

[becoin]

This isn’t the first time China is banning exchanges. Back in 2013, bitcoin dropped more than 50 percent as the government asked BTCChina to stop accepting deposits in Chinese yuan. The government changed its mind later on.
Do you thing something like that can happen now?

No. China is far less important for Bitcoin now than it was back in 2013.

[xhomerx10]

Just a little more off the top. I guess.

meh what comes down must er go up

http://www.columbia.edu/~jl4130/BTC.pdf sorry for pdf
An Economic Analysis of the Bitcoin Payment System

Bitcoin is not regulated. It cannot be regulated.

 The regulation concerns fiat currency rather than Bitcoin.

[yefi]

Dear China, just ban us already so we can be free of your meddling forever. Thank you.

[jbreher]

No, my claim is that fees are ~1000x more on a Bitcoin Segwit transaction as compared to a Bitcoin Cash transaction.

There are more than 900 altcoins and their tx fees are 1000x less compared to a Bitcoin tx fee. Are they better money than Bitcoin? What's your point, dumby?

My point is that Paashaas' characterization of my position was inaccurate and misleading. So I corrected him/her. My correction thereof is what you quoted above. What is it that compels you to wade in with guns blazing.... dumby?

[El duderino_]

AGAIN only FOOOLS would sell now

what kind of idiot is sitting now behind his pc pushing the buttons to sell BTC