Quote from: macsga on September 28, 2015, 07:08:57 PM

Quote from: noobtrader on September 28, 2015, 05:52:43 PM

there are some rumor that china will do another devaluation http://www.nytimes.com/2015/09/24/business/dealbook/a-big-bet-that-chinas-currency-will-devalue-further.html?_r=0
this might explain the china's bitcoin buying action today, and i believe that btc price will rises further

There's no doubt about it. They won't be able to sustain their economy if they don't. They tried to withhold their economic prosperity while it was visible to everyone that the commodities where declining. No Sales -> No Production -> No need for commodities. Simple as that. Bitcoin role (no matter how we want it to happen) is one of the people's choice to maintain their funds. It's easily movable, they can use it almost everywhere in the world (I believe they can use the BTC credit cards in China as well) so why bother to keep their Juan?

It's China alright. But it could also be great companies that they know their funds belong no more to "safe havens" like The Cayman islands, since they too will have to declare "who's who" to the countries their depositors are keeping their money in their banks. Just imagine how easy will it be to tenfold with BTC if -for example- a company like Apple decides to move some of their $USD into BTC.

Not feasible? Think again. *Hint*

this is Gentleman !!! Grin

i wonder if someone here still shorting btc today lol