Bitcoin exchange rate discussion

[torin3]

Anybody take a look today? Up to about $480.

 

[Janus67]

Yep looking really nice, let's hope it continues.

Any idea what sparked the rise?

 

[Luis_GT]

Still low... or I need a lot more BTC

 

[Silver_Pharaoh]

Yep looking really nice, let's hope it continues.

Any idea what sparked the rise?

+1

up to $489

 

[xsuperbgx]

The chart watchers interpreted their lines and decided it was time. I think there was some Chinese let up on the market. I was looking at fiatleak.com yesterday China was buying like crazy. Whether it was only a time of day difference or what, but China seemed to be buying 10-15x what USA was buying.

 

[ChanceCoats123]

The chart watchers interpreted their lines and decided it was time. I think there was some Chinese let up on the market. I was looking at fiatleak.com yesterday China was buying like crazy. Whether it was only a time of day difference or what, but China seemed to be buying 10-15x what USA was buying.

During the large climb last fall, China was buying up huge amounts of coins. This might be a sign that things are moving up.

On that same note though, the Chinese investors played a LOT of people on the last bubble. Don't be a fool with your BTC (to everyone).

 

[Acuradude]

when you say dont be a fool with our btc what do you mean exactly??

 

[Silver_Pharaoh]

when you say dont be a fool with our btc what do you mean exactly??

Don't spend it on GPU's like I did

i think that's what he means LOL

 

[ChanceCoats123]

I meant be careful with the trades that you make so you don't lose big time. And be careful how much you invest incase the price tanks.

 

[Janus67]

Sending my coinbase account a half btc to tide me over to hope of more positive things ahead.

 

[Acuradude]

does anyone know why china is buying so many btc my info comes from fiatleak.com they are buying hundreds per min. and have been non stop for days

 

[Silver_Pharaoh]

does anyone know why china is buying so many btc my info comes from fiatleak.com they are buying hundreds per min. and have been non stop for days

Have you seen how the Chinese Government controls things?
They can't control Bitcoin, thus the people love it

 

[ssjwizard]

Hands free wealth extraction plain and simple. Buy buy buy to push the rates up and then dump the coins near the top of the bubble. Lots of bad investors and overseas fools will end up buying in at the top and loose their butts, and China comes out laughing.

 

[ChanceCoats123]

Bingo. Most people will end up getting played. But if you're smart about it, you can make money. And if you're like me, you can get yourself a (basically) free motorcycle out of it.

 

[Fever]

does anyone know why china is buying so many btc my info comes from fiatleak.com they are buying hundreds per min. and have been non stop for days

You've only been watching for days, in that case. They've been at it for months. While the rest of the world has been panic selling based on "bad" China news, they've been buying everything they can. They must be laughing their asses off!

 

[Silver_Pharaoh]

You've only been watching for days, in that case. They've been at it for months. While the rest of the world has been panic selling based on "bad" China news, they've been buying everything they can. They must be laughing their asses off!

Yep.

 

[Acuradude]

i had been watch the prices and all for 6 months now but i just learned of the fiatleak site

but i thought china was manipulating the bitcoin market back a few months go when it started going down hill

 

[Silver_Pharaoh]

i had been watch the prices and all for 6 months now but i just learned of the fiatleak site

but i thought china was manipulating the bitcoin market back a few months go when it started going down hill

They are always manipulating the market.
Which is why they buy so much.

 

[Fever]

They are always manipulating the market.
Which is why they buy so much.

Yep. They've got the biggest wallets and that allows them to manipulate the market mostly as they please.

They brought prices up to the moon, "crashed" it down to 400 or so by dumping and are now re-buying everything they can for peanuts.

BTC @ $500 is going to be unthinkable in a few years, lots of bitter tears will be shed. I've bought a lot with BTC lately, but I'm holding the majority of my coins for the future.

 

[ivanlabrie]

I'd be wary of the FBI's 180k btc wallet, and the seized mtgox funds...if few people control those funds the temptation's gonna be too big. Maybe the FBI or NSA is behind the seizure, I mean, theft of coins from mtgox. Either that or Karpeles was an agent.