Quote from: nodroids on December 29, 2013, 07:28:19 PM

Watching trading closely with the BTCChina.com price movement, and knowing Chinese culture, where corruption and well positioned networks taking care of theselves isn't really considered corrupt like we in the West think, I think there is little doubt that the very Government officials who banned deposits onto the exchanges are themselves getting Yuan on the exchanges. Even if they aren't getting their own deposits on right now, the Chinese population assumes that's what's happening. It's just the accepted way their economy and culture works, it's considered normal.

BTC made a $120 move in under 48 hours centering on Christmas day when all Western banks are closed. This move was clearly led by China. How do they do that when no new money is allowed on the exchange?

There is $15 Trillion in new money created in China over the last 5 years. You can see that it hasn't been too hard to get the money out if you go to my cities of Sydney and Vancouver. But surely there are many more billion$ to get out of China, enter bitcoin. They will be buying for a long time to come, and will be a big part of the run to $5000 and beyond.

What you say makes a lot of sense; cronyism and tribalism will never be eliminated and this is why we need to limit the power of government -- to minimize the pernicious effects of the misuse of state power.