China bars banks from bitcoin transactions | Page 2 | TigerDroppings.com
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Vols&Shaft83
Tennessee Fan
Member since Dec 2012
23195 posts

re: China bars banks from bitcoin transactions

Fwiw, BUTC (ButtCoin) is up 46% today. I had PF Changs last night.


RickAstley
LSU Fan
Reno, Nevada
Member since May 2011
1649 posts

re: China bars banks from bitcoin transactions
quote:

I had PF Changs last night.


PF Changs converts buttcoins to kurics. 5 kurics = 1 bono? I imagine if I do enough Wiki math, it will all make sense to someone
This post was edited on 12/6 at 1:52 pm


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LSURussian
LSU Fan
Member since Feb 2005
85143 posts

re: China bars banks from bitcoin transactions
After my last post I went to the MtGox website to see if there's anything going on. I couldn't get through to it.

A few minutes ago I received this tweet:
quote:

MtGox.com ?@MtGox 30m

@wtrnl Dear Valued Customer,

Sorry for the delay in response.

Due to high volume of request we are unable to response in time.


I'm NOT their customer. How the hell did they get my twitter account name?!?

ETA: BTW, MtGox is showing a 76 minute time lag in reporting buy/sell transactions and their last reported btc exchange price was $830......an hour and 16 minutes ago.

ETA2: MtGox.com is now frozen and not reporting any transactions.
This post was edited on 12/6 at 2:09 pm


Blakely Bimbo
Alabama Fan
Member since Dec 2010
1169 posts

re: China bars banks from bitcoin transactions
Word going around some sites is that Baidu stopped accepting it as payment due to price volatility. This is being cited as reason for drop. Again, this is internet rumor.

Do your own due diligence.


LSURussian
LSU Fan
Member since Feb 2005
85143 posts

re: China bars banks from bitcoin transactions
I guess all those Chinese women who were buying btc two weeks ago are now selling. ETA: I read a news article today (I was trying to see what was going on with the volatility of btc today) which said 2 million bitcoins changed hands on "China's biggest bitcoin exchange in the past month."

MtGox hit $800 a few minutes ago. The time lag in reporting transactions is down to 49 minutes.
This post was edited on 12/6 at 4:40 pm


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LSURussian
LSU Fan
Member since Feb 2005
85143 posts

re: China bars banks from bitcoin transactions
quote:

Do your own due diligence.

I don't own btc, nor will I. Thanks!


Blakely Bimbo
Alabama Fan
Member since Dec 2010
1169 posts

re: China bars banks from bitcoin transactions
quote:

I don't own btc, nor will I. Thanks!


I KNOW you don't Russian, that was directed at the Wiki's of the world.

The Chinese version of the Mrs. Watanabe's appears to be running for the hills.


Vols&Shaft83
Tennessee Fan
Member since Dec 2012
23195 posts

re: China bars banks from bitcoin transactions


Vols&Shaft83
Tennessee Fan
Member since Dec 2012
23195 posts

LSURussian
LSU Fan
Member since Feb 2005
85143 posts

re: China bars banks from bitcoin transactions


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Broke
LSU Fan
AKA Buttercup
Member since Sep 2006
57936 posts
Online

re: China bars banks from bitcoin transactions
quote:

Vols&Shaft83


Where have you been?


Vols&Shaft83
Tennessee Fan
Member since Dec 2012
23195 posts

re: China bars banks from bitcoin transactions
Ban Land


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LSURussian
LSU Fan
Member since Feb 2005
85143 posts

re: China bars banks from bitcoin transactions
For anyone keeping score, btc hit $650 on MtGox earlier this evening, down 40% from its high this morning.


Lsut81
USA Fan
Member since Jun 2005
65655 posts

re: China bars banks from bitcoin transactions
quote:

btc hit $650 on MtGox earlier this evening, down 40% from its high this morning.


Holy frick


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SonOfMike
LSU Fan
Austin, TX
Member since Oct 2007
5775 posts
Online

re: China bars banks from bitcoin transactions
Great buying opportunity. I love panic sellers. I just increased my position by 20%


Poodlebrain
LSU Fan
Way Right of Rex
Member since Jan 2004
16525 posts

re: China bars banks from bitcoin transactions
quote:

Great buying opportunity. I love panic sellers. I just increased my position by 20%
I give you credit for recognizing you have a speculative position rather than an investment. Those panic sellers are most likely Chinese reacting to the People's Bank announcement that Chinese banks are forbidden from engaging in Bitcoin transactions. That will cause a serious shift in the supply and demand for Bitcoins as the Chinese exit the market.

Just out of curiosity, how many Bitcoins did you sell when the price was >$1,000? Great buying opportunities are worthless if you don't recognize great selling opportunities. And your 20% increase, is that the number of Bitcoins or the value expressed in some other currency, such as U.S. dollars?


LSURussian
LSU Fan
Member since Feb 2005
85143 posts

re: China bars banks from bitcoin transactions
quote:

And your 20% increase, is that the number of Bitcoins

He probably increased his position from .5 btc up to .6 btc.


Poodlebrain
LSU Fan
Way Right of Rex
Member since Jan 2004
16525 posts

re: China bars banks from bitcoin transactions
That would make him a veritable tycoon compared to Josh and his $.25 worth of Bitcoins. What ever happened to him?

When are we going to see some posters telling us about their selling at market peaks? It seems none of them believe in profit taking.


LSURussian
LSU Fan
Member since Feb 2005
85143 posts

re: China bars banks from bitcoin transactions
I think Joshie got tired of embarrassing himself.

quote:

When are we going to see some posters telling us about their selling at market peaks? It seems none of them believe in profit taking.
I would not believe them anyway. Btw, btc bottomed (for now) this morning at $576 on MtGox, which means it only lost 50% of its value in 24 hours.

ETA: And the 24 hour volume of btc traded on MtGox was a little over 100,000 bitcoins. A volume traded = to less than .9% of outstanding btc caused the value to fall 50%!!!!
This post was edited on 12/7 at 11:35 am


Blakely Bimbo
Alabama Fan
Member since Dec 2010
1169 posts

re: China bars banks from bitcoin transactions
Ya'll don't believe that BS about the Tesla selling in Bitcoin. The dealer just said on CNBC that he NEVER held the Bitcoins. He was paid in US Dollars by a program that converts. He only accepts US dollars for payment.


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