Quote from: deisik on February 22, 2017, 02:20:40 PM

Quote from: olushakes on February 21, 2017, 06:52:58 PM

I have read alot about China this and China that but I really dont understand why it has to be like that. Even if they have the farms over there, I believe its other countries that are even giving them the way because of the strict attitude towards bitcoin by other countries. How on earth can one country be deciding the direction of a currency that is even used all over the world. How I wish bitcoin can be strong enough to deflate all sorts of news coming from that end

Welcome to the US dollar, bro

Quote from: pinkflower on February 22, 2017, 06:38:07 AM

Quote from: deisik on February 21, 2017, 04:48:18 PM

Quote from: pinkflower on February 21, 2017, 07:08:55 AM

Heres what I think on the whole PBOC keeping BTC below 1000 US dollars conspiracy. The higher the price of BTC is, the easier it is for money launderers to use it. Think of this, if you want to launder 1 million US dollars, would it be easier for you to launder via BTC if it was at 10 dollars or at 10,000 dollars?

I don't think it actually matters

At least, as long as we talk about the same amount of fiat money (US dollars, euro, yuans, etc). Really, 10,000 dollars will remain 10,000 dollars no matter what Bitcoin price might be. In other words, you don't need to launder bitcoins themselves since they are of no particular use on their own. You can't do much with them (if only gamble them away). You can multiply the coins through trading or other investments but to use them in real life you will still have to convert your bitcoins to fiat first. And this is where the size begins to matter

Of course it does matter. The value of your fiat would depend on it. If you want to launder millions, which in most cases the amounts are, a higher BTC price will not cause any spikes in volatility as compared to when its lower. Pumping millions in and then getting them out will abruptly make the price go up and down.

I think the reality is not quite in line with what you think

Higher prices usually mean there is less supply, that's the reason behind prices rising (apart from demand inflating, of course). The higher prices we see today are in great degree due to July reward halving now taking full effect (i.e. supply side contracting). In other words, with prices rising markets become thinner in general, and it is even truer in case of Bitcoin (since folks right now prefer holding to active trading and selling). So your millions of dollars will cause higher volatility (in both relative and absolute terms) with high prices and low supply in contrast with low prices and high supply

I think youre wrong. Lets pretend BTC reached 10,000 US dollars. Are you saying that those super high BTC markets are now so thin, a slight push up will bring the price easily to 15,000 dollars with a less than a million in volume? Explain to me how that is so.