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Other Bitcoin price drop due to Chinese restrictions

Discussion in 'General' started by Snips, 18 Dec 2013.

  1. Snips

    Snips I can do dat, giz a job

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  2. TaRkA DaHl

    TaRkA DaHl Modder

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    Me a bit. Loads of others too.

    Bitcoin heavily influences the value of all alt-coins, so they are having pretty much the same issue.

    http://coinmarketcap.com/
     
  3. Snips

    Snips I can do dat, giz a job

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    Ouch unlucky dude
     
  4. rollo

    rollo Modder

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    I said in the other bit coin thread one ban in china or America and prices would tumble. China is basically going to be the first to say no to bit coin. 22% down in 24 hrs expecting it below $400 today.

    All the alt coins rely on bit coin some what so some are down 45% today alone.

    Bit coin to be a success requires the backing of 3 major markets, uk , USA, China. And to some extent the jap area as well.

    I'd of sold when the price hit its peak in November personally plenty of people did.
     
  5. TheGreatSatan

    TheGreatSatan Member for 17 years!

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    All the people who come in to buy dozens of video cards are gonna crap themselves. I hope they all drop to less than zero!!
     
  6. Weekly_Estimate

    Weekly_Estimate Random bird noises.

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    Lol yeah but isn't that bad for your business though? :p
     
  7. TaRkA DaHl

    TaRkA DaHl Modder

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    If you actually look at the prices over the past couple of months for all coins, they have steadily gone up over all. Even with this crash they haven't gone down as low as they were two months ago. There is still profit to be made mining, just not as much.
     
  8. julianmartin

    julianmartin resident cyborg.

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    I've invested a bit on Quarkcoin, just for giggles.

    The world will move on, without China. Cryptocurrencies are definitely here to stay, and the fact that one of the world's most controlling and irrational economies have denounced it, is 1) not that surprising and 2)not hugely worrying. Yes we lose a huge percentage of the world population, but that market is also hugely inaccessible for trade on this level with the rest of the world.
     
  9. sotu1

    sotu1 Ex-Modder

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    Don't assume it will be like this forever. Change is inevitable.
     
  10. julianmartin

    julianmartin resident cyborg.

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    Maybe, and if that happens, a change in their perception of cryptos is likely too.
     
  11. rollo

    rollo Modder

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    China is the biggest untapped market for most USA eu companies. China could also just be the first, if it was the only bit coins price would of rebounded faster instead it's held pretty steady at $600 ish.
     

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