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-   -   Bitcoin banned in china, about to crash (https://gfy.com/showthread.php?t=1127871)

Deputy Chief Command 12-05-2013 02:55 AM
Bitcoin banned in china, about to crash
 
http://www.bloomberg.com/news/2013-1...nsactions.html


Quote:
China Bans Financial Companies From Bitcoin Transactions


http://www.reuters.com/article/2013/...0JK1KZ20131205



Quote:
China central bank warns banks against use of bitcoin


bitcoin to reach sub $500 in next couple of hours .. :thumbsup:2 cents:

Markul 12-05-2013 02:59 AM
We shall see.

wehateporn 12-05-2013 02:59 AM

EddyTheDog 12-05-2013 03:03 AM
-15% in the last hour...

Make that -20%.....

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

srockhard 12-05-2013 03:14 AM
Watching it in real time is true entertainment! http://preev.com/

Naughty 12-05-2013 03:16 AM
Greenspan calling it a bubble sure doesn't help i'd imagine

srockhard 12-05-2013 03:19 AM
Quote:
Originally Posted by Naughty (Post 19896803)
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 03:20 AM
Sensationalist garbage.

EddyTheDog 12-05-2013 03:22 AM
Quote:
Originally Posted by srockhard (Post 19896802)
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 03:40 AM
Quote:
Originally Posted by EddyTheDog (Post 19896808)
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 03:46 AM
Saw it drop. Thought about buying. Waited 10 minutes and price jumped $80. Oh well.

Naughty 12-05-2013 03:49 AM
Quote:
Originally Posted by nexcom28 (Post 19896817)
Saw it drop. Thought about buying. Waited 10 minutes and price jumped $80. Oh well.
Patience.

AllAboutCams 12-05-2013 03:56 AM
Nothing will happen

wehateporn 12-05-2013 04:15 AM
Quote:
Originally Posted by AllAboutCams (Post 19896824)
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 :2 cents:

Markul 12-05-2013 04:17 AM
Quote:
Originally Posted by AllAboutCams (Post 19896824)
Nothing will happen
http://zmypic.com/img/bitcoizuz.jpg

just a punk 12-05-2013 04:20 AM
Quote:
Originally Posted by srockhard (Post 19896802)
Watching it in real time is true entertainment! http://preev.com/
http://ic.pics.livejournal.com/postf...0/7890_640.jpg

adultchatpay 12-05-2013 04:20 AM
Quote:
Originally Posted by srockhard (Post 19896802)
Watching it in real time is true entertainment! http://preev.com/
The conversion changes every 5 seconds. Amazing.

Naughty 12-05-2013 04:27 AM
Quote:
Originally Posted by adultchatpay (Post 19896842)
The conversion changes every 5 seconds. Amazing.
That is actually quite normal.

seeandsee 12-05-2013 04:36 AM
let's see where will shit drop

Shap 12-05-2013 04:39 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 04:55 AM
Quote:
Originally Posted by Shap (Post 19896855)
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 05:09 AM
FFS man!! Could you fear-monger your headline any more????? :321GFY

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 05:12 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 05:38 AM
Quote:
Originally Posted by Shap (Post 19896855)
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 05:59 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 06:19 AM
not a crash, more like a dip.

DAMNMAN 12-05-2013 06:28 AM
Quote:
Originally Posted by wehateporn (Post 19896835)
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 :2 cents:
I hope you're right and then BUY BUY BUY!!!

DAMNMAN 12-05-2013 06:29 AM
Quote:
Originally Posted by Shap (Post 19896855)
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 01:12 PM
Quote:
Originally Posted by DAMNMAN (Post 19896951)
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 01:19 PM
Quote:
Originally Posted by Shap (Post 19896855)
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 01:22 PM
Quote:
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.


:stoned

ADG

Tookie- 12-05-2013 01:27 PM
hahahaha

_Richard_ 12-05-2013 01:30 PM
if history is any example, next week itll be 2k?

onwebcam 12-05-2013 01:31 PM
Quote:
Originally Posted by AsianDivaGirlsWebDude (Post 19897492)
"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 01:31 PM
http://www.coindesk.com/bank-of-america-bitcoin-growth/

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

DWB 12-05-2013 01:34 PM
Quote:
Originally Posted by - Jesus Christ - (Post 19896805)
Sensationalist garbage.
Normalcy bias.

PornDiscounts-V 12-05-2013 02:08 PM
http://img189.imageshack.us/img189/1948/9080.png

Looking solid at $1,000+
:thumbsup:thumbsup

SlammedMedia 12-05-2013 02:16 PM
It'll be time to buy tonight!

SlammedMedia 12-05-2013 02:21 PM
Quote:
Originally Posted by _Richard_ (Post 19897507)
http://www.coindesk.com/bank-of-america-bitcoin-growth/

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

SlammedMedia 12-05-2013 02:29 PM
Quote:
Originally Posted by Naughty (Post 19896803)
Greenspan calling it a bubble sure doesn't help i'd imagine
:1orglaugh:1orglaugh:1orglaugh

jscott 12-05-2013 02:51 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 03:46 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 05:25 PM
Unpredictable enough

http://bitcoinity.org/markets/image?span=7d&size=medium

nico-t 12-05-2013 05:39 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 05:50 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 06:18 PM
Quote:
Originally Posted by Shap (Post 19896855)
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 05:32 AM
Quote:
Originally Posted by Chris (Post 19897859)
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 05:35 AM
Quote:
Originally Posted by nexcom28 (Post 19896817)
Saw it drop. Thought about buying. Waited 10 minutes and price jumped $80. Oh well.
ya snooze , ya looze :2 cents:

quetzalcoatl 12-06-2013 06:14 AM
bitcoin is becoming more interesting :)

adultGeek 12-06-2013 11:30 AM
Quote:
Originally Posted by facialfreak (Post 19896874)
FFS man!! Could you fear-monger your headline any more????? :321GFY

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. :)


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