Quote from: SmokedMolex on March 28, 2014, 06:56:53 PM

A lot of good points are being made here. But there are some of you that fail to recognize the "China" economic policies that are currently in place.

A good amount of you seem to forget that China is still a communist country. Why we have open trade with them and not other communist countries is still a mystery to me but that's besides the point.

Let's step back from the screens for a moment and look at the overall picture of China's economics.

1) Only allow export of manufactured goods.

2) Hoarde world's raw materials including precious metals.

3) Sell back low quality good to people with lots of fiat.

4) Do not permit citizens to move country's currency into other forms to avoid dilution of the state.

5) Prohibit transactions which devalue the currency of the state.

You can call it FUD or whatever you want. The truth is, China has a history of not wanting to let their money leave their country and will go to great measures to protect the state even if it means banning something without any further explanation.

Just google China ghost towns to see what the Chinese have been doing with the funds that are not allowed to leave the country.

China is roughly 60% of the bitcoin market. If that goes away expect the price to fall dramatically to correct levels out of bubble territory.

Trade accordingly and quit crying because you missed the triple tops.

All this is true except for the 60% part. That is not even close to correct. I contend that Chinese is probably 10-15% of the market, that their no trade fees lead to ridiculous high coin circulation AND that most of the traders on China exchanges are not Chinese.