The Chinese understand the long game better than anyone as one of the oldest civilizations and having existed through so many revolutions
The Chinese are interested in a large variety of markets including speculative markets
With the USD tied to the CNY, the Chinese need alternative value storage vehicles to hedge their bets against USD collapse
The Chinese were privy to a much more elaborate dialogue of the news we are only now accepting/realizing and have already done a lot of profit-taking
For every seller, there's a buyer who wants to profit, so the buyer has to realize that the market isn't going to last forever with no new funds coming in and sees an escape route that isn't visible to the naked eye.
All the arbitrage is going to leave BTChina, at least temporarily. The volume will inevitably drop significantly from this event and the price of BTChina will have a diminishing effect on the other exchanges once it's not #1 any more.
Mt Gox & Bitstamp are being scared into lowering their prices. The higher they keep them, the more incentive Chinese investors have to retain their Bitcoins and seek another way out.
If China had banned Bitcoin when the market valued it at a penny, it would have soared in value. China's statement is a testament to the power of Bitcoin, albeit bad in the short-term by causing mass panic and further speaking to the "instability of the currency".
The problem at BTChina is temporary. Either BTChina goes up in smoke and they liquidate their coins into the other markets or they find another payment processor solution.
Current price is $483 at MtGox and the equivalent of $350 in BTChina, these spreads will continue to increase as they have been over the days/hours because MtGox and Bitstamp know the value of Bitcoin despite this market manipulation, this could find MtGox looking at prices around the last high of $266 while China could find itself at $120 USD.
With all the news on Bitcoin, there is enough money lying in wait to purchase it at a variety of points. Is it enough to keep it above $250?
The old idiom should work backwards if it's about bad news: Sell on the rumor, buy on the news, right?
Our worst fears are confirmed, 50% of the market is experiencing a collapse and dragging the rest with it. The MSM will make this big, will talk about the bubble of Bitcoin, its imminent collapse and all their I-Told-You-So's. This is normal. On the counter side, there will be arguments for free markets and the restrictiveness of the Chinese marketplace. If any other country follows China's lead, they look dictatorial.
I can understand that everyone may be very comfortable with the exchanges we have. I can understand that it may be good to invest in the exchanges we already use. However, if we want to see dogecoin grow...we CAN NOT, EXPECT PEOPLE TO CHANGE OR ADAPT TO US. We need to be very open minded and "fluid". So what I am asking, is that everyone go on Bitcoin and Litecoin and take a look at the exchanges they have. ( you can also look at other coins for suggestions of exchanges). We are missing a lot of exchanges and while yes, we have cryptsy and few others, we are still limited. You want to see the coin grow correct? Then we need to open our availability to more people. This being the Canadian exchanges, Chinese exchanges, etc. We just lost one of our exchanges: Mintpal which helped with a lot of our volume. Like I said, the more we available to people, the faster we can be adopted. This means exchanges, Fiat to Dogecoin, etc. Checkout www.bitcoinwisdom.com to see some of the exchanges that coins have. (These are not all of them of course but some big ones.) Canadian: https://cavirtex.com/home Chinese: https://www.okcoin.com/https://www.btcchina.com/https://www.huobi.com/ European: https://btc-e.com/ We want to be everywhere bitcoin is, and everywhere it isn't. It is the key to our success and future of our coin. Push these exchanges to have us! It will benefit us hugely and especially them! There is no reason why they shouldn't! So send a few emails to their support teams and make them! BTCHINA: [email protected] OKCOIN: https://www.okcoin.com/about/linkUs.do Cavirtex: https://support.cavirtex.com/ TO THE MOON!
BTC China BTC China Exchange – China Bitcoin Exchange. You like games? Then you will love the following bitcoin games! SHARKOIN.com SHARKOIN is a brilliantly simple and very addictive online game! SharkRoulette.com WIN BIG! Play European Roulette with Bitcoin! Primary Sidebar Widget Area. Pages. BTCChina (now BTCC), based in Shanghai, was the world's second largest bitcoin exchange by volume as of October 2014. Founded in June 2011, it was China's first bitcoin exchange, and most of its customers are thought to be Chinese. In November 2013, the company had grown to 20 employees. It announced on 14 September 2017 that it was suspending trading as of 30 September 2017. The service was first seen in June, 2011. The about page shows the exchange as being based on Beijing. Trades for the exchange are reported on Bitcoin Charts as Yuan (BTC/CNY). Adding Funds CNY [not sure if any others, need update] Withdrawing Funds CNY. Funds may be withdrawn Tencent (0.5% fee) or Alipay (1.0% fee). See Also. Selling bitcoins CHINA BTC EXCHANGE - TRADE BITCOINS at 25% ABOVE DAILY MARKET PRICE, NO REGISTRATION REQUIRED ... Responsive support, easy to use system, just what i needed for my bitcoin transactions. Jones Hardre. Dubai. best exchange site, stress free transaction, you guys rock, would definitely come back again. Bart Woodward. Holland. Bitcoin Exchange. Start your trading journey today. Securely buy, sell, and build your cryptocurrency portfolio. Casino. Now you can win big with the official Bitcoin.com casino, play our exclusive games using Bitcoin (BTC). Local. Join our Local Bitcoin Cash (BCH) marketplace to get the best margins on every trade.
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