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Bitcoin was discussed on the forum earlier this year during the price hike that took place in April, and we’re in the midst of a very similar pattern again right now. The interesting factor this time around is that China has been taking a big bite for itself in the past couple of weeks, with the price on BTCChina now at !,070 RMB ($175). Meanwhile MtGox continues to lead the charge with $189 and climbing, rapidly. We pipped $195 last week, got sold back to $170 in a flash, already bouncing back toward $200 again.
There’s been a magnitude of press coverage following the Washington ‘meet’ with Bitcoin Foundation members and US regulators a few weeks ago. We then had the FBI’s shutdown of Silk Road, the illicit Tor based site selling drugs, guns, you name it, exclusively for bitcoin. When news broke of the shutdown the price fell like a brick within 3 hours, yet managed to rally above it’s previous high point within days. Any of you who wanted to get in on the previous bubble but missed might want to take another look again now. This next week has the potential to take the price to well above $200 again. The market is clearly feeling more stable, and as an insurance against last April’s DDoS attack the leading exchange (MtGox) recently migrated to new servers. As a further incentive, BTCChina is now offering commission free trading.
Good Luck!
Price on BTCChina now up to a high of 1339 RMB and rising. MtGox at a current high of $231 and rising rapidly. We’re now heading into April’s highs, and fast looking like $300 is a possibility.
Didn’t anyone here get on this since my original post? You’d have made 20%+ since Monday!
Can people buy thru you? I’ll take one….
If anyone is seriously wanting to buy though me I’ll gladly transact, though the volatility at the moment is probably a bit too rich for most.
I’m sat at home day trading, and believe me it takes some nerve at the moment. I’m $2k up so far today though! 😀
I’m late to this party, but DAMN!! BTC is $250 now on MTGox. I really didn’t think it would come back this quickly, but I’m overjoyed that it has. Still not selling, though.
During the last boom and bust I had a feeling that BTC would come out stronger as long as it didn’t completely collapse. It needs to go through periods like that to establish itself as a viable long term currency that can’t be manipulated by hackers or destroyed by national governments.
I also just heard that BTC China is the largest exchange now. Makes sense. I was in a taxi a few days ago and I heard them talking about BTC on the radio.
Here’s a chart from today showing the last 2 months:
MAKE ALL THE MONIES!!!
I’m off to the bank as I type this to float more dollars to my exchange. Working arbitrage like a pack of crack whores fighting over a dime bag.
😀
MAKE ALL THE MONIES!!! I’m off to the bank as I type this to float more dollars to my exchange. Working arbitrage like a pack of crack whores fighting over a dime bag.
You’re buying at a time like this?? True believer!
hi guys, cryptos are insane this days… im currently trading on btc-e with litecoins and namecoins… price of bitcoin is to high and to volatile, so its more easier to generate profit on altcoins… but i have one question
price of btc is lowest on btc-e and the highest on btcchina… does anybody have any experience with arbitrage to btcchina???… are forigners allowed to trade on this exchange?
price of btc is lowest on btc-e and the highest on btcchina… does anybody have any experience with arbitrage to btcchina???… are forigners allowed to trade on this exchange?
Yes, absolutely. Check out their website, it was recently redesigned and now it looks and works much better than before. I spoke to someone today in Europe who is buying BTC in Europe and selling in China through BTCChina.
thanks for info Charlie… do you know some fast and cheap way how to transfer money from chinese bank to europe?… yesterday was difference betwen btc-e and btcchina just 20usd, but today its again 150… so somedays could be arbitrage very profitable.
thanks for info Charlie… do you know some fast and cheap way how to transfer money from chinese bank to europe?… yesterday was difference betwen btc-e and btcchina just 20usd, but today its again 150… so somedays could be arbitrage very profitable.
Yeah, bank transfer is the easiest way. There are several forum threads about transferring money out of China on here. I think you can transfer more money (or with greater convenience) if you have a Chinese person actually initiate the transfer at a Chinese bank.
BTC taking a serious beating since the Chinese government is basically attempting to completely shut it down by disabling money from moving into exchanges like BTC China.
Is anyone buying now? If you’re buying from China, how are you doing that? I’m trying to find convenient ways to purchase BTC now since UnionPay and AliPay are no longer options.
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