Bitcoin banned in china, about to crash

**Markul** · 12-05-2013, 12:59 AM

We shall see.

**wehateporn** · 12-05-2013, 12:59 AM

**EddyTheDog** · 12-05-2013, 01:03 AM

-15% in the last hour...

Make that -20%.....

oooops - That's -25%....

**srockhard** · 12-05-2013, 01:14 AM

Watching it in real time is true entertainment! http://preev.com/

**Naughty** · 12-05-2013, 01:16 AM

Greenspan calling it a bubble sure doesn't help i'd imagine

**srockhard** · 12-05-2013, 01:19 AM

Originally posted by Naughty

Greenspan calling it a bubble sure doesn't help i'd imagine

Everything has a bubble. I think bitcoin will pull through this.

**- Jesus Christ -** · 12-05-2013, 01:20 AM

Sensationalist garbage.

**EddyTheDog** · 12-05-2013, 01:22 AM

Originally posted by srockhard

Watching it in real time is true entertainment! http://preev.com/

It is coming back up according to http://bitcoinity.org/markets?theme=dark

Don't panic yet...

**srockhard** · 12-05-2013, 01:40 AM

Originally posted by EddyTheDog

It is coming back up according to http://bitcoinity.org/markets?theme=dark

Don't panic yet...

nice charts there thx for the link

**nexcom28** · 12-05-2013, 01:46 AM

Saw it drop. Thought about buying. Waited 10 minutes and price jumped $80. Oh well.

**Naughty** · 12-05-2013, 01:49 AM

Originally posted by nexcom28

Saw it drop. Thought about buying. Waited 10 minutes and price jumped $80. Oh well.

Patience.

**AllAboutCams** · 12-05-2013, 01:56 AM

Nothing will happen

**wehateporn** · 12-05-2013, 02:15 AM

Originally posted by AllAboutCams

Nothing will happen

On it's way down again, I have a feeling that things won't look good by the end of the day, but I hope I'm wrong

**Markul** · 12-05-2013, 02:17 AM

Originally posted by AllAboutCams

Nothing will happen

**just a punk** · 12-05-2013, 02:20 AM

Originally posted by srockhard

Watching it in real time is true entertainment! http://preev.com/

**adultchatpay** · 12-05-2013, 02:20 AM

Originally posted by srockhard

Watching it in real time is true entertainment! http://preev.com/

The conversion changes every 5 seconds. Amazing.

**Naughty** · 12-05-2013, 02:27 AM

Originally posted by adultchatpay

The conversion changes every 5 seconds. Amazing.

That is actually quite normal.

**seeandsee** · 12-05-2013, 02:36 AM

let's see where will shit drop

**Shap** · 12-05-2013, 02:39 AM

one major problem i see for people that are invested in bitcoin is that in a situation where you want to sell you can't.

I haven't heard of anyone being able to move more than $10,000 in bitcoin transactions at a time.

**EddyTheDog** · 12-05-2013, 02:55 AM

Originally posted by Shap

one major problem i see for people that are invested in bitcoin is that in a situation where you want to sell you can't.

I haven't heard of anyone being able to move more than $10,000 in bitcoin transactions at a time.

As far as I know the right column on the site I posted before is transactions and I have seen a few go through for 200+ coins...

**facialfreak** · 12-05-2013, 03:09 AM

FFS man!! Could you fear-monger your headline any more?????

BITCOIN WAS NOT BANNED IN CHINA!!

China banned financial institutions from getting involved in Bitcoin ...

This is a VERY POSITIVE step in China accepting bitcoin as an alternative currency, by NOT ALLOWING BANKS TO MANIPULATE THE VALUE OF BITCOIN!!

You do not buy or sell bitcoins thru a bank ... that defeats their purpose.

This just goes to prove that most people only read what they want to read, and hear what they want to hear ...... LMFAO

**anexsia** · 12-05-2013, 03:12 AM

Things like this are completely normal, bitcoin has had a lot of large crashes but it always ends up jumping back up. When Silk Road went down you had all these people (and even on here) saying bitcoin is fucked (when they don't even understand bitcoin in the first place) and BOOM it rises to new highs.

**Markul** · 12-05-2013, 03:38 AM

Originally posted by Shap

one major problem i see for people that are invested in bitcoin is that in a situation where you want to sell you can't.

I haven't heard of anyone being able to move more than $10,000 in bitcoin transactions at a time.

That's what I pointed out last week too lol

**Penny24Seven** · 12-05-2013, 03:59 AM

it is the same place it was 3 days ago. Does this all the time and if you play it right it means big money

**nico-t** · 12-05-2013, 04:19 AM

not a crash, more like a dip.

**DAMNMAN** · 12-05-2013, 04:28 AM

Originally posted by wehateporn

On it's way down again, I have a feeling that things won't look good by the end of the day, but I hope I'm wrong

I hope you're right and then BUY BUY BUY!!!

**DAMNMAN** · 12-05-2013, 04:29 AM

Originally posted by Shap

one major problem i see for people that are invested in bitcoin is that in a situation where you want to sell you can't.

I haven't heard of anyone being able to move more than $10,000 in bitcoin transactions at a time.

OUT, You mean? In is no problem. >;-))

**Shap** · 12-05-2013, 11:12 AM

Originally posted by DAMNMAN

OUT, You mean? In is no problem. >;-))

Correct I meant out.

Regardless of what any site reports I do not know anyone who has managed to get out more than $10k out a time. And I know people who have tried.

**crockett** · 12-05-2013, 11:19 AM

Originally posted by Shap

one major problem i see for people that are invested in bitcoin is that in a situation where you want to sell you can't.

I haven't heard of anyone being able to move more than $10,000 in bitcoin transactions at a time.

I said this in another topic, the people whom had a lot of coins simply made phantom profits, that can only be realized if they can exchange for a second currency.

**AsianDivaGirlsWebDude** · 12-05-2013, 11:22 AM

French central bank warns over bitcoin risks

(Reuters) - The Bank of France warned on Thursday about risks related to the digital currency bitcoin, adding its voice to growing concerns about the unregulated, online money.

Bitcoin is not backed by any central bank or government, or by physical assets. Their value depends on people's confidence in the currency.

It has been gaining acceptance by the general public and investment community but have yet to become an accepted form of payment on websites of major retailers such as Amazon.com.

The Bank of France said the price of bitcoin in legal currencies was inherently volatile and users may find it difficult to convert to real money.

The anonymity that bitcoin offer users also raises the risk that they could also be used for money-laundering and financing of terrorism, the central bank said in a publication.

"Even if bitcoin is not currently a credible investment vehicle and therefore do not pose a significant risk to financial stability, they represent a financial risk for those who hold them," the Bank of France said.

Though the central bank saw no threat to its monopoly on the issuance of legal tender, bitcoin's growing popularity has increasingly attracted the attention of authorities in several countries, including China and the United States.

The Chinese central bank warned financial institutions on Thursday against trading bitcoin, which has proven particularly popular in China.

The price of the digital currency rose over $1,000 last month for the first time, extending a 400 percent surge in less than a month and fuelling concerns of a bubble in the making.

The Bank of France warned that speculating on the price of bitcoin could become costly if other users became unwilling to convert gains into legal tender, potentially putting the whole system at risk of collapse if bitcoin demand evaporated.

Noting a growing number of retailers and service providers who accept bitcoin for payment in France, the central bank warned they benefited from no guarantee that the bitcoin could be cashed for real money.

ADG

**Tookie-** · 12-05-2013, 11:27 AM

hahahaha

**_Richard_** · 12-05-2013, 11:30 AM

if history is any example, next week itll be 2k?

**onwebcam** · 12-05-2013, 11:31 AM

Originally posted by AsianDivaGirlsWebDude

"Their value depends on people's confidence in the currency."

That's every currency.. Central banks are warning because there is no confidence in their currency.

**_Richard_** · 12-05-2013, 11:31 AM

http://www.coindesk.com/bank-of-america-bitcoin-growth/

'Bank of America: Bitcoin Has Clear Potential for Growth'

**DWB** · 12-05-2013, 11:34 AM

Originally posted by - Jesus Christ -

Sensationalist garbage.

Normalcy bias.

**PornDiscounts-V** · 12-05-2013, 12:08 PM

Looking solid at $1,000+

**SlammedMedia** · 12-05-2013, 12:16 PM

It'll be time to buy tonight!

**SlammedMedia** · 12-05-2013, 12:21 PM

Originally posted by _Richard_

http://www.coindesk.com/bank-of-america-bitcoin-growth/

'Bank of America: Bitcoin Has Clear Potential for Growth'

Obviously.

**SlammedMedia** · 12-05-2013, 12:29 PM

Originally posted by Naughty

Greenspan calling it a bubble sure doesn't help i'd imagine

**jscott** · 12-05-2013, 12:51 PM

I'm not selling...... no plan to

... if the price has a small dive, i'll just buy and wait for the rise again

**halfpint** · 12-05-2013, 01:46 PM

LOL it wont crash.. and this is a good thing cause it keeps the pesky banks out of it for now anyway

**adultmobile** · 12-05-2013, 03:25 PM

Unpredictable enough

**nico-t** · 12-05-2013, 03:39 PM

Latest news is bank of america came out with a bit of a positive statement about bitcoin:
http://www.usatoday.com/story/money/...-pboc/3876727/
Predictions of value, anyone?

**seXXXhub** · 12-05-2013, 03:50 PM

lol, bitcoin wasnt banned ... they said its a risky deal, thats all, fuck media .. and oh ..look ... BTC is just fine and rising

**Chris** · 12-05-2013, 04:18 PM

Originally posted by Shap

one major problem i see for people that are invested in bitcoin is that in a situation where you want to sell you can't.

I haven't heard of anyone being able to move more than $10,000 in bitcoin transactions at a time.

only place having problem getting money to people is mtgox

coinbase / btc-e all can handle very large volume

**Shap** · 12-06-2013, 03:32 AM

Originally posted by Chris

only place having problem getting money to people is mtgox

coinbase / btc-e all can handle very large volume

Do you know anyone personally that has withdrawn more than $10k at one time?

**JFK** · 12-06-2013, 03:35 AM

Originally posted by nexcom28

Saw it drop. Thought about buying. Waited 10 minutes and price jumped $80. Oh well.

ya snooze , ya looze

**quetzalcoatl** · 12-06-2013, 04:14 AM

bitcoin is becoming more interesting

**adultGeek** · 12-06-2013, 09:30 AM

Originally posted by facialfreak

FFS man!! Could you fear-monger your headline any more?????

BITCOIN WAS NOT BANNED IN CHINA!!

China banned financial institutions from getting involved in Bitcoin ...

This is a VERY POSITIVE step in China accepting bitcoin as an alternative currency, by NOT ALLOWING BANKS TO MANIPULATE THE VALUE OF BITCOIN!!

You do not buy or sell bitcoins thru a bank ... that defeats their purpose.

This just goes to prove that most people only read what they want to read, and hear what they want to hear ...... LMFAO

You are damn right! When bitcoin was trading at $50 last year, I remember people freaking out to sell them... And see where it stands today.

No risk, no gain.

Bitcoin banned in china, about to crash

Bitcoin banned in china, about to crash

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