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Something Snaps In China As Bitcoin Takes Out Stops, Soars Higher
At 1815ET, after trading in a very narrow $1 range for hours, Bitcoin suddenly exploded $17 higher on very heavy volume. Normally this wouldn't warrant an explicit mention, but this time... something odd happened in Chinese currency markets...
Offshore Yuan suddenly snapped 12 pips lower after noise trading in a 1 pip range for hours... just as Bitcoin spiked...
On heavy volume...
Both moves signal a move away from the USDollar with Bitcoin and Yuan strengthening.
The last time Bitcoin spiked notably like this was at the start of the Chinese crackdown on capital controls.
But... with the spread between Offshore and Onshore Yuan (the former dramatically weaker than the latter), it appears the market is expecting a devaluation sooner rather than later...
Perhaps, just perhaps, that is what Bitcoin is 'hinting' at. For sure, a Yuan devaluation now would be enough to spook global markets once again, and force The Fed to put a rate hike on hold... only this time, everyone and their pet rabbit is neck-deep in "priced in" liftoff expectations.
Charts: Bloomberg
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yeah and bitcoin is free from manipulation and speculation
I buried my bitcoin in my backyard so come and get it.......BTW....."currency markets" is a joke right?
OH MAH CHEESUS CRISP SATOSHI, TIZ BITSCOINS ONZ LE INTRAWEBZ AGAIIINNN !
sarc.
HO WE PHOOK! IT'S MOAR BITCOIN ON ZEROHEDGE!!!
$18!!! HOLY SHIT!!!
/sarc
The least interesting aspect of Bitcoin is how many USD it takes to buy one.
Bitcoin clickbait.
Satoshi likely found is the news.
Next will be charts showing bitcoin's effect on gold price. Relax fellow gold bugs, Bitcoin could be the catalyst for breaking the paper gold markets, by way of active participation and innovation outside the national currencies.
Yes! Bitcoin is up 17 whatchamacallits!
Uhmmm... Meh...
Sounds to me that special someone got a quantum computer upgrade early for Christmas.
Seems pretty accurate to me. That said ...
http://debtcrash.report/all-posts-list/all-post-list/entry/bitcoin-reali...
Yeah, looks like the Aussie cops raided Shitoshi Nakamoto errr, ummm, some white guy named Craig Steven Wright's house down in Australia who seems to be sitting on 400 million dollars/yen/yuan/euros/whateverthefuck worth of undeclared currency the state has some questions about.
Well just damn, shame he couldn't have, ya know...transferred it secretly through encryption to some offshore ether-account so he could access it whenever he wants for his upcoming legal fees, it appears it will all now be seized...as evidence.
#JustAnotherInternetBoatingAccidentWaitingToHappen ;-)
This is what the Webbot predicted as far as BTC hitting $400 on its third try. IF the rest of the theory plays out, silver will make a huge move right on its heels. If only by accident, i hope they get one right here. By the way, first heard of this from jsnip4 several weeks ago.
Webbot has been terrible. It's been picking up "chatter" of hyperinflation, death, plague, martial law, etc, etc all happening next week!! for years now.
webbot guy got $1K bit coin right when bit coin was $100.
I watched in disbelief when it happened.
Yeah maybe but that's a "statistic of one". We would need to ignore the webbot's prediction of imminent doom next week, every week for the past several years. Webbot would make a great guest on King World News though.
@SoilMyself bitcoin broke 400 again 3 days ago,not just today.
Thought i had my eye on it, missed that move. Think the last drive up to $400 was supposed to be sustained, unlike the last couple attempts
I excepted it to retrace to 380 before this jump solidly passed 400, but if this is truly Satoshi the market will be euphoric for a while.
Looks like wired found the inventor of BitCOIN:
He’s a former subscriber to the 1990s “cypherpunks” mailing list devoted to anti-authoritarianism and encryption, an advocate of gold as a financial tool, an accomplished C++ coder, a security professional plausibly capable of writing a tough-to-hack protocol like bitcoin, a libertarian who battled with tax authorities, and a fan of Japanese culture.
I have a masters in law…a master’s in statistics, a couple doctorates…”
http://www.wired.com/2015/12/bitcoins-creator-satoshi-nakamoto-is-probab...
I think we'd like this guy.
NOPE.
I was kinda hoping you were going to say something like:
James Orlin Grabbe
You would be getting from absolute cold to freezing cold with that name.
Instead you were below absolute cold.
Good Luck in your search ......
Well I am practicing with Wim Hof right now.
nope. Al Gore invented bitcoin
As in ??? ...
Al Gore Rhythm???
And now, This just in ...
Tuesday 8 December 2015 22.40 EST
http://www.theguardian.com/technology/2015/dec/09/bitcoin-founder-craig-...
Reported bitcoin 'founder' Craig Wright's home raided by Australian policeExclusive: Police search home belonging to Australian entrepreneur and academic, who tech publications claim was key to creation of cryptocurrency and could be figure known as Satoshi Nakamoto
Hey silver, no need to smoke crack when bitcoin makes one of these these tiny pops.
What's not a joke, is that 1 BTC = 100 hrs with Greek chick/MILF.
Assuming 1 hr per visit, that translates into 1 visit every 3 days, IOW... a year's supply of sex.
When I told my wife that this is a LOT cheaper than one year of sex with her, she replied with a wink and a smile: "Perhaps. But wait till you see the price tag for getting out of the Marriage Vow/Contract".
Just hodl for a few years and you will get supply for lifetime.
Supply / demand curves , BTChezz..
BTC cannot be sold naked short - it has a blockchain - aka - a ledger , BTChezzz..
Unlike physical PM that has been naked and double short sold since 1972 ...
BTC has several features that make it superior to PM in that respect.
Only problem is that you cannot hold it in your hand.... But it is still money ,,,
Cue the ZH Flat Earth Society....
....on teh subject of "flat earthers" this seems to be a massive, massive psy-ops online! I'm sure some of them are just genuinely stupid but just wow!
the round earth is a global conspiracy designed to bring in the NWO, I laugh at all you numbskull sheep who can't see through the ruse
Fone , there is every possibility we may actually exist in some kind of 2D reality but perceive it as 3D , or even a 1D universe , or not at all - check out Quantum Computers and Parallel Universe , according to some quantum mathmaticians either there is only one human that exists or an infinite number , you decide. Whatever you decide , or create - be sure to make it a positive outcome !
Hmmm... would have to really meditate on that one and read more. There is a hilarious interview out there on YT though between Molyneux and a flat Earther who refuses to admit defeat!
Of course the earth is fucking round !! Just trying to say that theere may be parallel universes where the earth is actually flat - personally I have not taken enough drugs hard enough to make me belive that but I still keep an open mind on the subject. There was once a time when they though the Earth was the centre of the universe and disbelief was punishable by fire. Molyneux is good though he destroys a lot of these Flat Earthers but I don't know how well he would do against an MIT Quantum Physicist who just came down from a really strong lsd trip ..
selling your book..
String Theory seems to work best with 11 dimensions.
I doubt acid will show you the missing 8, but it will sure make the 3 rather interesting!
It's all a big fractal.
"Only problem is that you cannot hold it in your hand.... But it is still money ,,,"
No, No, I've got actual Bitcoins! They are made of goldtone and weigh about an ounce. Says "Bitcoin" right there on the obverse! Bought mine on Craigslist for cheap.
IMHO, any currency, method or system that favors the Parallel Economy over the official one, falls into the category of "The Enema of my Enemy..."
Nothing is free from manipulation and speculation.
If you want to call teh Chinese trying to get out of China with their wealth and lives intact and sell at the best price, sure it's "manipulation".
Ancient Chinese Seceret Huh?
I love your avatar! +100!!!
TaintGartman would have been good as well(if not taken)
"Something snaps in China". Careful, if you snap your fingers too hard, you might knock the power out.
I posted this time stamp at 14:47 in the Canada NIRP messages.
BTC building up energy and tension funneling into this 390-400 zone. Gonna find out relatively soon if we have further confirmation of major trend change. Check the candles on the 4H since the 5th and see where almost all of them close. I projected $600s by Feb (of course to the amusement of the guys that know everything) so we'll just have to wait and see.
Among other things a CWH within a much larger CWH spanning more than a year (see daily) and former resistance/support right at these levels waiting to be cleared and enforced.
(I know, I know TA doesn't mean jack shit).
"Both moves signal a move away from the USDollar with Bitcoin and Yuan strengthening."
really? dont both moves indicate someone had a bunch of onshore yuan and wanted out - simulataneously shifting some to offshore yuan, and some to BTC?
they went from fx to btc, so it's not onshore to offshore, it's onshore/offshore to btc
channel change
ok - i guess i dont know enough about the onshore-->offshore transfer mechanism.
short that bitchcoin now!
Bitcoin is not a publicly traded stock. Sorry for your stupidity.
But you can still short it, stupid.
on what exchange then?
You can short bitcoin on several exchanges , difference is , unlike PM , you cannot naked short bitcoin , due to it's open ledger. Yet that is. But any exchange or investor that could make leverage'd naked shorts or naked leveraged longs of bitcoin would be opening themselfs up to potentially massive losses - on a price rise or massive gains if it drops down. It's gonna be very interesting to watch this unfold over the next few years.
We higly doubt that one of Satoshi honour who has inherited Bitcoins (saved by their families over teh generations) would lend tehm out so a speculator could make a quick buck!
You can short BTC with USD. The difference you are looking for is that there is many exchanges to choose from, where gold is centralized spot price.
Markets don't seem to care...
A medium of exchange should be stable. Bitcoin is just another gambling game for the time being.
right now it's a channel of exchange
not sure when it can become a (publicly accepted) medium of exchange though
Is the Dollar stable?
Finally.
A BTC thread where we can all extoll the virtues of silver and gold.
Now where to begin-
First off, we don't need no steenking internetz. We got metal and you don't.
neener neener neener
;)
get your goddamn "gold & silver" off teh we's Bitcoin thread now!!
Where the hell did your Fonestar Brigade go anyway?
I kind of miss john conner and the crew...especially the guy who talked about mining for gold on asteroids. He was a beauty!
Fonestar Brigade was made up of guerilla irregulars all coming together under Satoshi hat for Satoshi honour.
extol, not extoll...kiding :)
Rusty spelling, it's like gargantuan, you hardly ever get to use it in a sentence.
.
Gold never corrodes, is super malleable, is rare, easily divisible and readily recognized.
Love this BTC thread!
Silver rocks!
Watch this; look at my latest comment above; having some fun of course...nothing serious.
J.P. Morgan analysts wrote that the three best leading indicators for recession have been credit spreads, the shape of the yield curve and profit margins.
Here are some signs of a coming recession.
1. Investors in high-yield bonds are expecting to see their first negative return since the start of the credit crisis in 2008.
http://www.marketwatch.com/story/deteriorating-junk-bonds-flash-warning-signs-for-stocks-2015-12-07?dist=afterbell
2. Factory orders continue to drop
http://www.zerohedge.com/news/2015-10-02/us-factory-orders-flash-recession-warning-drop-yoy-10th-month-row
3. Default risk spikes
http://www.zerohedge.com/news/2015-10-02/us-financials-default-risk-spikes-2-year-high
4. M&A set record
http://michaelekelley.com/2015/05/29/mergers-and-acquisitions-set-record/
5. Iron ore prices tumble
http://www.marketwatch.com/story/iron-ore-prices-keep-crashing-adding-to-global-growth-fears-2015-11-30
6. Baltic dry shipping index tumbles
http://www.marketwatch.com/story/shipping-index-falls-to-all-time-low-stoking-fears-about-global-growth-2015-11-19
Here is how to prepare.
http://michaelekelley.com/2014/10/16/8-things-to-do-when-recession-happens/
Here is how to get your mind off this stuff.
http://michaelekelley.com/category/humor/
Good luck!
Shitthe Chinese gov better find out the warehouse where the bitcoins are stored and set it ablaze.....
Watch for removal of the dollar peg
Then what? It has already stretched beyond the norms...so I guess the rubber band gets stretched too far and dislocates...then what?
Nobody knows nothing about nada...so naturally I hedge and own both Bitcoin and physical silver. To those on either side...are you SURE that you went the right direction?
How bout that yuan the currency of a country that has red alert air quality as if it is optional to breathe. Poisoning ones own air. How does bitcoin save your lungs after cancer
Don't live in China...and enjoy your bitcoin?
As opposed to Chem-trails??!!
The residents of Beijing live longer than Americans.
Bu bu but I don't know what BitCoin is, so I hate it and bad mouth it to everyone.
I don't know what I'm talking about but I can say....tulips!....Mt. Gox!....Ponzi! ummm......NSA!! that's it! Yeah, it's gotta be because I haven't a clue about BitCoin.
ANYTHING except learning what BitCoin is, NOOOOOOOOOOOOOO, I am NOT learning something new! Can. Not. Do. It.
God, how I hate BitCoin!
Me too!
Amazing.
Yep, due to ignorance. You can fix that.
A breakthrough on how to scale bitcoin and allow more transactions was made over the weekend and could be a gamechanger on how it is used and developed...https://prezi.com/lyghixkrguao/segregated-witness-and-deploying-it-for-b...
Plus Overstock CEO (same guy who hoards gold and food for employees) got SEC approval to issue assets on bitcoin's blockchain yesturday and will most likely come to market before any private (read controlled) "blockchain" by people like Blythe Masters. Exciting time to be a bitcoiner!
He is betting on you and your types; you never win when the house knows your cards before you do.
Sorry; not falling for the BitCoin propaganda. It is pure speculation for the iCoin junkies.
Great. Don't buy bitcoin, it's a scam right now. When it hits $10,000 you will start buying. Guaranteed!
When it hits 10K, then based on current ratios, Gold will be near $24K. $24K is greater than $10K.
Gold: $24k = $192.000 bln valuation = not realistic
BTC: $10k = $210 bln valuation = realistic
Bitcoin will make new highs and ZHers will be left behind.
When it comes to Bitcoin, Zero hedgers have been the sorriest gathering of clueless morons I've ever seen in my life, Tyler excluded. Talk about missing the boat!
The Bitcoin Channel
Disclosure: Long BTC, LTC. Short BTS, ETH, CLAM, DASH, MAID, XRP
Relative to what? One of many inherent flaws. It is a speculative instrument and bankers love that stuff.
Bitcoin started out near the price of Gold and is headed toward the price of silver within 2 years...that is my latest projection. BitCoin was conceived by the Mafia Bankers; it is why they approve.
Bitcoin started out at the price of dirt ($0).
Crock Man: LOL, your statement proves you don't even know what BitCoin is! Too funny.
I have to laugh when people who don't know what they are talking about flap their gums.
Maybe Greece`s refugees have suddenly discovered that their stipend Euro Withdrawel amount, is limited at Greece`s ATM terminals, and have joined the Greek people in their usage of Bitcoin as an alternative to the the Euro......Or the Chinese Army has hacked a Bitcoin bailout of China..........
I will trust Bitcoin when things like this stop happening:
Secret Service Agent Sentenced for Stealing 20,000 Bitcoins Worth $800,000 in Silk Road Investigation
http://www.thedailysheeple.com/secret-service-agent-sentenced-for-steali...
Did you mean to write: " I will trust Secret Service Agents when things like this stop happening." I don't see how that story would make you less trustful of Bitcoin.
OK then, I will trust gold when they stop finding tungsten cores inside gold bars and coins and governments stop trying to confiscate it.