Quote from: accord01 on December 19, 2013, 10:51:24 AM

Quote from: Miz4r on December 19, 2013, 10:49:21 AM

Quote from: windjc on December 19, 2013, 10:34:20 AM

Worst case scenario (but perhaps most likely) is that this is a dead cat bounce in China.

But regardless, why are people buying BTC at all in China?

I have heard that they would buy it to arbitrage it? Ok, assuming they have a way to keep the money or move it back into China. I doubt, however, this is massive.

I have heard that perhaps they want to still own Bitcoin for black market trading. Possible I suppose, but certainly not widespread.

If I understand correctly, $0 money is coming into BTCChina. Am I right? If not where is money coming from? Because I can't wire money to BTCChina from the U.S. So where can people send it from?

I just do not see how BTCChina continues to exist as it is with no new deposits coming from. And if people can't send fresh money, how the hell are they buying bitcoins?

Do you know how much fiat is sitting on the sidelines there now after the crazy sell-off? Some of it will be withdrawn, but it is also very tempting for those who sold at 4-5k+ CNY to double their bitcoins by buying back in. Bitcoin is not dead in China, and new deposit methods are coming soon and once that is possible again you can pretty much guess what's going to happen. Smart people will want to buy (back) in at a low price before it is even announced that deposits are going to be enabled again.

Yeah and you'd have to go through an arm and a leg to be able to put some $ on the exchange, and also risking that getting closed down too. This is just a temporary bounce with people with chinese fiat trying to make a little profit...

The CCP will never violently closing an exchange. This will lead to social instability and this is the last thing they want. In the worst case, they may close exchanges softly, which means halting the trade and let people withdraw their XBT and CNY balance.