Topic: Are Chinese bitcoin investors that gullible? (Read 5280 times)

The main problem in China is that you can lose your life for illegal financial transactions. There the government solves the problems very harshly and sharply. The Chinese state itself does not mind making money on the crypto currency, but it's allowed only to him and no one else.

I think not all Chinese are gullible but most of them are can be a gullible. And one more thing, regarding the story above that you had said charlie shrem was imprisoned because of money laundering and has been released after 2years, I don't get exactly what your trying to intend here.

I disagree with this, you have the obligation to prot3ect your money, at best a government will come late to the party and will able to get some money back but don't count on it, so we must be watchful of where we invest our money since we are the only ones that truly care about our economic fate.

In my view ETH is still a ponzi because the market participants sell their coins to a greater fool and it is very much comparable to a ponzi scheme when more money comes in by new speculators and this gives the holders a window to sell to them at a higher price.


From this definition I can see that ETH is a crapcoin. I see that you will not say it directly because of reasons you do not want to divulge. That is ok and I understand.

But with utility or not, if their developers promise something that they cannot deliver then that should be considered a scam.


It is good that it happened or else Bitcoin would ne considered a ponzi crapcoin by many right now.

yes i will agree with you. they are the most hard working people of the world and they all the time thinking about to make their business more and more successful and that work for it all the time and that is the reason that that they are now emerging as the best economic county.

Chinese are business minded peopla and they have the urge to take advantage of any business that offers potential income. They are also risk takers and that is why they have no fear in investing. There are many Chinese who suffered a big loss in their investment but there are also many chinese who hits the jackpot that moment that investment succeeds.

You can remove the word "Chinese" and the answer remains an emphatic, "Yes."

Yes, yes we are that gullible. We fall for it time after time.

It's almost like a rite of passage.

a ponzi is where you hand funds over. and those funds are just used to pay off the middle mans other debtors. where you are left with nothing.
basically hand over X with promises of X+0.X return. but wher X pays out to others as their 0.X return.

totally different game theory to cryptocurrencies

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crap coins are you buying an 'asset' with the knowledge/naivity that the asset may go up or down in value.
if it goes down and becomes worthless. you might aswell have bought a bag of dogs mess..(hence crapcoin)

unless a coin has REAL utility its a crapcoin. and its 'value' is short lived with a pump and dump.
some try to rinse and repeat empty promises of FUTURE POSSIBLE uses.. but unless it has ACTUAL REAL USE NOW. treat it as a pump and dump crap coin.

if a crapcoins 'utility' is just a peg to another coin. but that second coin has no REAL WORLD UTILITY. then defacto the first coin is just as crap.

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EG
bitcoin is great example of how real utility gave real value. it was released in january 2009. but did not actually get any "value" until 2010 when it obtained REAL UTILITY (bitcoin pizza / alpaca socks) and its VALUE increased due to REAL UTILITY (silkroad then more legit merchants).

in short if a coin just mentions future 'possibilities' your playing 100% speculation (pump and dump).

look for where it has REAL AND ACTUAL USE and follow the real and actual utility growth to know of its 'value' and longevity

Franky1, it would be nice if you answer my question in the post I made before this. I would like to know what you think because I value your opinion even if we have different views and opinions sometimes. Thanks.

But what if the platform itself is not scalable and cannot work as promised? These concerns are already slowly being voiced by some observers but they are not recognized by the developers. Instead the developers keep saying that Ethereum will work as promised but there is a chance they are hiding the truth. How would you classify something like that which is still hanging but know that there is a big chance it will not work? Ponzi or not?

well risk should be taken? Yes it should be , but should it be taken with not too much information. Well we study the market very careful before doing anything.

if ethereum cannot function without gas. and if ethereum too has an actual use. thus making 'gas' essential and usable for something real.. then yes it passes the usability test that it can survive beyond some fabricated promotional period.

but if its just a Kenyewest coin. created for no purpose but to have a famous persona brand name.. and wont survive past a promotional period, because people cant use it for anything real. then treat it as a pump and dump coin/novelty.  not as a asset

This brings me to this question. If an ICO coin or token has serves some actual purpose in its own platform like how Ethereum is used for "gas"to run smart contracts in the platform, would you say that kind of "use" is justifiable to not brand it as a pump and dump or ponzi scheme?

first of all i think yobit is russian or mostly of unknown origin and shady.
second of all they will never do that. because listing these shitcoins is how they earn money. first they get paid to list some of these from the developer then they may get paid to pump it. even if they are not they fake pump it when it died and nobody were watching to fool their newbie users to buy from the inflated price and then dump on them.

Chinese exchanges might never touch any ICO again if they follow the self-regulation rules.


https://bitcointalksearch.org/topic/m.17944659

Well you should tell Yobit and the likes to stop listing shitcoins on their platforms to defraud investors of their hard earned money(Bitcoins). They've found the easiest root to riches is to fork coin to create a shit coin and run an ICO.

It's human nature to take risk, only difference is preference.

I don't think they are gullible but they are generally genuine risk takers who want to see the good outcome of a risky venture.

Never invest money in ICO which is found by criminals, your tokens will be worthless if he gets arrested again.

Can you give me the link?