Am I one of the few who is glad China is banning itself?

Domino

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Quote from: MeandMissNoob on April 29, 2014, 07:32:21 AM

As long as there are dumps every time China shouts BAN, the chinese won't stop throwing BAN articles online.
I have seen it so many times these months, China ban article...price drop...days follow prices goes up... China Ban..and down we go etc.
They keep making money spreading FUD so, stop selling and let them make a decicion in or out!

I don't know if those making the decision in China and those spreading the "news" are the same group of people, but definitely some one has been using those "news" to pump and dump bitcoin again and again in previous months.

MeandMissNoob

newbie

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As long as there are dumps every time China shouts BAN, the chinese won't stop throwing BAN articles online.
I have seen it so many times these months, China ban article...price drop...days follow prices goes up... China Ban..and down we go etc.
They keep making money spreading FUD so, stop selling and let them make a decicion in or out!

counter

hero member

Activity: 798

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Time is on our side, yes it is!

I just wish the news would stop causing the market to be so unstable. It would be nice if a transparent decision was made and not so much of the vagueness.

Arghhh

full member

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Another article from Zhang:
http://bitcoinblog.de/2014/04/28/chinese-banks-dont-know-how-to-act-appropriate-cause-bitcoin-is-too-tiny/

Quote

A report says PBOC is angry that after the April 15th deadline Bitcoin’s price rose, and blamed it on the ban not being effectively carried out. In fact, although Bitcoin’s price did rise, this is because it is an international currency and China’s power is already seriously weakened. To interpret this as a “bounce back” for Bitcoin means PBOC is not exactly in “harmony” mode.

Quote

Considering the magnitudes at work here, I never believed that some of the Chinese Bitcoin exchanges had the government support they needed to survive. You have someone in Shanghai government? He won’t be of any help when an order comes direct from PBOC. You have someone in PBOC? No chance, he won’t be interested in supporting a paltry Bitcoin exchange...

PBOC really, really wants to kill bitcoin in China.

Let BTC flow back into the safety of the Western world. Good fucking riddance.

Melbustus

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China has been a giant distraction. The fact that it juiced the run-up was fun, but it did not *cause* the run-up, and is ultimately nowhere near as relevant as the true crypto infrastructure development going on primarily in the US and EU.

Which is why, back in December, I suggested that: The next bitcoin boom phase will be driven by the USA.

LiteCoinGuy

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In Satoshi I Trust

Quote from: 1Referee on April 28, 2014, 02:51:09 AM

China out! After China have banned itself 100 times we can finally move forward.

agree

...but maybe someday china will join again.

gagalady

legendary

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Yes I mentioned that few times before, we hear china news so often with those bans, If this continuous It just wont have any effect on bitcoin in a long run till they'll go out of bitcoin economy totally.

greenlion

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Quote from: HYFR on April 28, 2014, 06:25:26 AM

Quote from: greenlion on April 28, 2014, 05:13:09 AM

It's 100% capital controls and nothing else.

Trading RMB for Bitcoin freely on exchanges is an unlimited circumvention of capital controls. Just that and no other reason requires PBOC to do something, unless we want to believe that all of a sudden PRC has completely rethought its position on capital flight.

Why can't they implement controls?

In principle they could, but it would require bureaucrats to stick their necks out to create rules that they have no incentive to create, that could come back and bite them in the ass, when offshore CNH trading already accomplishes the exact intention of any new rules.

HYFR

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Quote from: greenlion on April 28, 2014, 05:13:09 AM

It's 100% capital controls and nothing else.

Trading RMB for Bitcoin freely on exchanges is an unlimited circumvention of capital controls. Just that and no other reason requires PBOC to do something, unless we want to believe that all of a sudden PRC has completely rethought its position on capital flight.

Why can't they implement controls?

bryant.coleman

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Quote from: greenlion on April 28, 2014, 05:13:09 AM

It's 100% capital controls and nothing else.

In that case, I have a feeling that more countries will follow suit. Russia has already taken similar steps, and BTC-E was forced to stop accepting Ruble deposits as a result. Not a good sign.

greenlion

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It's 100% capital controls and nothing else.

Trading RMB for Bitcoin freely on exchanges is an unlimited circumvention of capital controls. Just that and no other reason requires PBOC to do something, unless we want to believe that all of a sudden PRC has completely rethought its position on capital flight.

Bit_Happy

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A Great Time to Start Something!

Quote from: 1Referee on April 28, 2014, 03:44:29 AM

Quote from: Bit_Happy on April 28, 2014, 03:03:50 AM

Quote from: 1Referee on April 28, 2014, 02:51:09 AM

China out! After China have banned itself 100 times we can finally move forward. Current Bitcoin price is what I consider a legit price in this situation. It may go down a lil bit more, but not too much.

The first thing people need to do is STOP buying these Bitcoin ban articles from China.
How many times will noobs panic sell their Bitcoins, and after that, they buy again for a higher price, while the next day they sell again with a loss... ?? Does that make sense?

Forget China, and focus on other things Cheesy

OK.
The Bitcoin community should do a "crazy stunt" like the DOGE race car, but not another car....something original and memorable.
What can we do?

Hmm, what about a BTC hot air balloon...

hot air balloon?
How about the Bitcoin Blimp!
Fairly expensive but great amounts of attention.

HYFR

newbie

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Quote from: dreamspark on April 28, 2014, 03:46:34 AM

Ill be glad WHEN it bans itself, the process of banning itself that has been happening for 4+ months is something I've not been glad about.

What do you mean bans itself?

ManeBjorn

legendary

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If you want to see huge exposure for Bitcoin then do like doge did only do not throw it away on a driver who usually finishes outside the top 30 nearly every race.

Setup a bounty and get Bitcoin on Dale Earnhardt Jr's car for 4 races. Awareness will boom. His fans will buy and sell and get involved in Bitcoin. They are loyal to his sponsors and he wins the most popular driver year after year.

That would be BTC well spent and get a following that you want to see. Make sure Bitcoin sponsors his car once a year at least after the initial 4 races this year. It will be steep the cost because his sponsorship is paid for well in advance.

Other than that some commercials on a regular basis that can be a positive force to counter all the FUD that gets spread.

Quote from: Bit_Happy on April 28, 2014, 03:03:50 AM

Quote from: 1Referee on April 28, 2014, 02:51:09 AM

China out! After China have banned itself 100 times we can finally move forward. Current Bitcoin price is what I consider a legit price in this situation. It may go down a lil bit more, but not too much.

The first thing people need to do is STOP buying these Bitcoin ban articles from China.
How many times will noobs panic sell their Bitcoins, and after that, they buy again for a higher price, while the next day they sell again with a loss... ?? Does that make sense?

Forget China, and focus on other things Cheesy

OK.
The Bitcoin community should do a "crazy stunt" like the DOGE race car, but not another car....something original and memorable.
What can we do?

dreamspark

hero member

Activity: 798

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Ill be glad WHEN it bans itself, the process of banning itself that has been happening for 4+ months is something I've not been glad about.

1Referee

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Activity: 2170

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Quote from: Bit_Happy on April 28, 2014, 03:03:50 AM

Quote from: 1Referee on April 28, 2014, 02:51:09 AM

China out! After China have banned itself 100 times we can finally move forward. Current Bitcoin price is what I consider a legit price in this situation. It may go down a lil bit more, but not too much.

The first thing people need to do is STOP buying these Bitcoin ban articles from China.
How many times will noobs panic sell their Bitcoins, and after that, they buy again for a higher price, while the next day they sell again with a loss... ?? Does that make sense?

Forget China, and focus on other things Cheesy

OK.
The Bitcoin community should do a "crazy stunt" like the DOGE race car, but not another car....something original and memorable.
What can we do?

Hmm, what about a BTC hot air balloon, or tv-ads, not sure if that is original enough Cheesy

But I think we as community could also do things to help Bitcoin, instead of waiting for retailers to accept BTC
A lot retailers don't know how they can benefit from accepting Bitcoin. And most of them don't even know how Bitcoin works or what it exactly is, except from hearing in the news that the price reached $1000

I will try to talk with some local businesses about how they can benefit from Bitcoin, and how save it is as payment method.

Bit_Happy

legendary

Activity: 2114

Merit: 1040

A Great Time to Start Something!

Quote from: 1Referee on April 28, 2014, 02:51:09 AM

China out! After China have banned itself 100 times we can finally move forward. Current Bitcoin price is what I consider a legit price in this situation. It may go down a lil bit more, but not too much.

The first thing people need to do is STOP buying these Bitcoin ban articles from China.
How many times will noobs panic sell their Bitcoins, and after that, they buy again for a higher price, while the next day they sell again with a loss... ?? Does that make sense?

Forget China, and focus on other things Cheesy

OK.
The Bitcoin community should do a "crazy stunt" like the DOGE race car, but not another car....something original and memorable.
What can we do?

1Referee

legendary

Activity: 2170

Merit: 1427

China out! After China have banned itself 100 times we can finally move forward. Current Bitcoin price is what I consider a legit price in this situation. It may go down a lil bit more, but not too much.

The first thing people need to do is STOP buying these Bitcoin ban articles from China.
How many times will noobs panic sell their Bitcoins, and after that, they buy again for a higher price, while the next day they sell again with a loss... ?? Does that make sense?

Forget China, and focus on other things Cheesy

tins

hero member

Activity: 882

Merit: 500

Yes.
Bitcoin hit $270 before the China boom. With all the press and exposure over the past year, it should be significantly higher, without the involvement of China. The only effect they are having at this point is creating uncertainty in the market. Without them, the market will grow well beyond where it was last year.
Stability is worth more than all the yuan in the world! (Obviously, not really, but making a point.)

PredatorZ

newbie

Activity: 21

Merit: 0

I think so too.

It´s a boring situation which is used by Whales.

Topic: Am I one of the few who is glad China is banning itself? (Read 1877 times)