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Offline tomorrow

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Bter has halted CNY deposit
« on: April 05, 2014, 03:31:43 AM »

Dear all, bter has halted CNY deposit due to GOV policy.  http://bter.com/article/403 Basically MMC/CNY volatility is greatly suppressed. This presents an opportunity to "raise" alternative exchanges and form a real market.  They
include but not limited to
http://bittrex.com
http://cryptorush.in  (not recommended ATM)
http://poloniex.com
http://allcrypt.com

If you are buying,  place your limit orders at alternative exchanges. Don't be fooled by the 0.05% transaction fee difference, price is what really matters, isn't it? When the price at bter falls, sellers will go to other exchanges to fill the buying orders (higher price out there) This provide strong support. You don't want the price continuing falling after buying, do you? Bots on the other hand, cannot step out of bter to continue selling, because they are bter bots rather than global bots. Even human, sometimes does not care to step out of the familiar old exchange.

We (community dedicated members and investors who would like see MMC price rising) march on all alternative exchanges. This is much easier, because the thin volume there. We slowly drive the MMC/BTC price up, while the strong support at alternative exchanges behind us. You will find out the real human bears (sellers) are not that strong when the bots are excluded. Intuitively, our strategy is like this

_________                             __________     /\
                |                           |                       |
 bittrex      |                           |     poloniex      |
                |_______________|                       |   Price GO!
                           bter                                    |
                    (bots stuck here)

What do you think?
« Last Edit: April 05, 2014, 06:44:30 AM by tomorrow »
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Offline itsik78

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Re: Bter has halted CNY deposit
« Reply #1 on: April 05, 2014, 05:27:52 AM »
Stay away from CryptoRush until they find a way to solve their issues or (more likely) go bankrupt.
Don't be tempted to sell there as you won't be able to withdraw your BTC.

Offline Delinquency

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Re: Bter has halted CNY deposit
« Reply #2 on: April 05, 2014, 06:39:20 AM »
Bittrex is a new trading exchange I believe in, just after reading the bio about the creators.

I'll switch to them because they promise more enhancements.

Offline tomorrow

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Re: Bter has halted CNY deposit
« Reply #3 on: April 05, 2014, 06:46:34 AM »
Don't be tempted to sell there as you won't be able to withdraw your BTC.
Good to know, thanks! original post updated.

I'll switch to them because they promise more enhancements.
Yes, they have tres bien tech. Let's go and place some orders.
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Offline stalemate

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Re: Bter has halted CNY deposit
« Reply #4 on: April 11, 2014, 09:48:49 PM »
I wish but I'm still not so optimistic about the price will go up after these news. Considering the amount of coins minted, it will take long time for MMC to be stabilized. (my estimation for stabilization is at least a year from this day). It may go above or below the current price about 25% in the short-term (0-3 months) and 10% in the mid-term (3-12 months). After a year, MMC may be stabilized at levels 5%. This is a rough estimation, though.
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