Big Governments Are Crushing Cryptocurrencies -- Bitcoin Down 10 Percent

South Park

hero member

Activity: 2884

Merit: 794

I am terrible at Fantasy Football!!!

Quote from: mostkey on September 10, 2017, 10:33:14 PM

Quote from: South Park on September 10, 2017, 12:02:17 PM

Quote from: 2double0 on September 09, 2017, 03:30:10 PM

Wait what? Bitcoin fell all the way from 5k to 4100 and it was more than a 20% dip, where were you at that time?
And when it recovered back till 4650 and then again 4190, you think it's getting more intense?
Governments, big? Which one, China? Neh, I don't believe any of them could harm Bitcoins because it has become the future of money as well as money of common people and when it's about people, governments can't do anything. They can't stop you breathing, right? It's your right to breathe, to say anything you feel, to use whatever you want. And Bitcoin is unstoppable as said by Bill Gates, so thinking too much over these dips could make us go insane.
They are just spreading rumors and shorting as well as making money over the hype, don't fall.

Bitcoin harms the self interests of China by allowing unregulated capital flight, I think that in the future some countries are going to ban bitcoin because they think it damages their economies, but unfortunately for them bitcoin is unstoppable and they are going to be unable to control the desire of people to get bitcoin.

as strong as any Chinese want to withstand bitcoin use, this will remain difficult, China being one of the countries with the largest bitcoin enthusiasts, with this ban there may be special access for bitcoin users. and this will be an advantage to the agency that can provide free access to the use of bitcoin that is now banned by China

As long as the reasons to use a cryptocurrency exist then people are going to keep using crypto, it is not wonder why China has the most people interested in crypto because that is a country with heavier regulation than countries in the west and as such people want to be free from those constrains.

olushakes

sr. member

Activity: 476

Merit: 254

Even without Chinese government coming into the space with some of their actions every one already knows that the volatility is bound to happen only what is needed is a reason to hold on and that's what the Chinese government have provided for bitcoin. So whether 10% or 20% we are sure to recover in due time and also a creation of opportunity to everyone to either make something good out of it or complain.

mostkey

sr. member

Activity: 742

Merit: 253

Quote from: South Park on September 10, 2017, 12:02:17 PM

Quote from: 2double0 on September 09, 2017, 03:30:10 PM

Wait what? Bitcoin fell all the way from 5k to 4100 and it was more than a 20% dip, where were you at that time?
And when it recovered back till 4650 and then again 4190, you think it's getting more intense?
Governments, big? Which one, China? Neh, I don't believe any of them could harm Bitcoins because it has become the future of money as well as money of common people and when it's about people, governments can't do anything. They can't stop you breathing, right? It's your right to breathe, to say anything you feel, to use whatever you want. And Bitcoin is unstoppable as said by Bill Gates, so thinking too much over these dips could make us go insane.
They are just spreading rumors and shorting as well as making money over the hype, don't fall.

Bitcoin harms the self interests of China by allowing unregulated capital flight, I think that in the future some countries are going to ban bitcoin because they think it damages their economies, but unfortunately for them bitcoin is unstoppable and they are going to be unable to control the desire of people to get bitcoin.

as strong as any Chinese want to withstand bitcoin use, this will remain difficult, China being one of the countries with the largest bitcoin enthusiasts, with this ban there may be special access for bitcoin users. and this will be an advantage to the agency that can provide free access to the use of bitcoin that is now banned by China

South Park

hero member

Activity: 2884

Merit: 794

I am terrible at Fantasy Football!!!

Quote from: 2double0 on September 09, 2017, 03:30:10 PM

Wait what? Bitcoin fell all the way from 5k to 4100 and it was more than a 20% dip, where were you at that time?
And when it recovered back till 4650 and then again 4190, you think it's getting more intense?
Governments, big? Which one, China? Neh, I don't believe any of them could harm Bitcoins because it has become the future of money as well as money of common people and when it's about people, governments can't do anything. They can't stop you breathing, right? It's your right to breathe, to say anything you feel, to use whatever you want. And Bitcoin is unstoppable as said by Bill Gates, so thinking too much over these dips could make us go insane.
They are just spreading rumors and shorting as well as making money over the hype, don't fall.

Bitcoin harms the self interests of China by allowing unregulated capital flight, I think that in the future some countries are going to ban bitcoin because they think it damages their economies, but unfortunately for them bitcoin is unstoppable and they are going to be unable to control the desire of people to get bitcoin.

WatchMaker

full member

Activity: 518

Merit: 104

PUFFY FINANCE

Quote from: sanjeev.lamani@ on September 04, 2017, 02:19:19 PM

Big governments are catching up with Bitcoin and other cryptocurrencies. And are crushing them.

A couple of days after announcing that Initial Coin Offerings (ICOs) are “seriously disrupted the economic and financial order,” the Chinese government banned ICO funding.

That was certainly bad news for cryptocurrencies, which crushed across the board, with Bitcoin losing close to 10 percent, Ethereum 21.74 percent, Litecoin 24.92 percent, and BitConnect 32.10 percent.

Coin/Investment Trust   Change 24H*
Bitcoin (BTC)   -9.84%
Ethereum (ETH)   -21.74
Litecoin (LTC)   -24.92
BitConnect   -32.10

China is the one country with the highest number of cyptocurrency investors.
Currently, China is trying to regulate cryptocurrency exchanges to avoid it people from getting scammed.
That is the reason why there are so many ups and downs in the market.

Oceat

sr. member

Activity: 2506

Merit: 368

Quote from: South Park on September 09, 2017, 12:32:38 PM

Quote from: BUK2016 on September 08, 2017, 03:21:39 PM

Quote from: sanjeev.lamani@ on September 04, 2017, 02:19:19 PM

Big governments are catching up with Bitcoin and other cryptocurrencies. And are crushing them.

A couple of days after announcing that Initial Coin Offerings (ICOs) are “seriously disrupted the economic and financial order,” the Chinese government banned ICO funding.

That was certainly bad news for cryptocurrencies, which crushed across the board, with Bitcoin losing close to 10 percent, Ethereum 21.74 percent, Litecoin 24.92 percent, and BitConnect 32.10 percent.

Coin/Investment Trust   Change 24H*
Bitcoin (BTC)   -9.84%
Ethereum (ETH)   -21.74
Litecoin (LTC)   -24.92
BitConnect   -32.10

This is one of the fundamental issues that usually affect the market value of bitcoin and any other crypto currency. Although the decline is temporal for with time both bitcoin and other crypto currency will bounce back.

Right, this is nothing but speculators taking advantage of the fear the news is going to cause among traders and investors and using that to their advantage, they are crashing the price so they can buy for cheap and then when the price goes back to normal they can get some easy profits.

Oh you mean those whales? If those whales will move of course it could create a panic to every traders and investors since they can manipulate the price range if they want to and could get it back to normal again. If you are always watching the price chart of bitcoin you will notice that whales are moving too fast because it could be too risky to stay long because it could cut their profit once the traders and investors notice it.

2double0

legendary

Activity: 2618

Merit: 1105

Wait what? Bitcoin fell all the way from 5k to 4100 and it was more than a 20% dip, where were you at that time?
And when it recovered back till 4650 and then again 4190, you think it's getting more intense?
Governments, big? Which one, China? Neh, I don't believe any of them could harm Bitcoins because it has become the future of money as well as money of common people and when it's about people, governments can't do anything. They can't stop you breathing, right? It's your right to breathe, to say anything you feel, to use whatever you want. And Bitcoin is unstoppable as said by Bill Gates, so thinking too much over these dips could make us go insane.
They are just spreading rumors and shorting as well as making money over the hype, don't fall.

que91

full member

Activity: 406

Merit: 100

Quote from: South Park on September 09, 2017, 12:32:38 PM

Quote from: BUK2016 on September 08, 2017, 03:21:39 PM

Quote from: sanjeev.lamani@ on September 04, 2017, 02:19:19 PM

Big governments are catching up with Bitcoin and other cryptocurrencies. And are crushing them.

A couple of days after announcing that Initial Coin Offerings (ICOs) are “seriously disrupted the economic and financial order,” the Chinese government banned ICO funding.

That was certainly bad news for cryptocurrencies, which crushed across the board, with Bitcoin losing close to 10 percent, Ethereum 21.74 percent, Litecoin 24.92 percent, and BitConnect 32.10 percent.

Coin/Investment Trust   Change 24H*
Bitcoin (BTC)   -9.84%
Ethereum (ETH)   -21.74
Litecoin (LTC)   -24.92
BitConnect   -32.10

This is one of the fundamental issues that usually affect the market value of bitcoin and any other crypto currency. Although the decline is temporal for with time both bitcoin and other crypto currency will bounce back.

Right, this is nothing but speculators taking advantage of the fear the news is going to cause among traders and investors and using that to their advantage, they are crashing the price so they can buy for cheap and then when the price goes back to normal they can get some easy profits.

If your base price in dips price is right, you will have a profit from that. But if your predict is wrong, you need wait the price of Bitcoin recovery or take loss before the price of Bitcoin continue falls down, always have trap on market, so be careful!

South Park

hero member

Activity: 2884

Merit: 794

I am terrible at Fantasy Football!!!

Quote from: BUK2016 on September 08, 2017, 03:21:39 PM

Quote from: sanjeev.lamani@ on September 04, 2017, 02:19:19 PM

Big governments are catching up with Bitcoin and other cryptocurrencies. And are crushing them.

A couple of days after announcing that Initial Coin Offerings (ICOs) are “seriously disrupted the economic and financial order,” the Chinese government banned ICO funding.

That was certainly bad news for cryptocurrencies, which crushed across the board, with Bitcoin losing close to 10 percent, Ethereum 21.74 percent, Litecoin 24.92 percent, and BitConnect 32.10 percent.

Coin/Investment Trust   Change 24H*
Bitcoin (BTC)   -9.84%
Ethereum (ETH)   -21.74
Litecoin (LTC)   -24.92
BitConnect   -32.10

This is one of the fundamental issues that usually affect the market value of bitcoin and any other crypto currency. Although the decline is temporal for with time both bitcoin and other crypto currency will bounce back.

Right, this is nothing but speculators taking advantage of the fear the news is going to cause among traders and investors and using that to their advantage, they are crashing the price so they can buy for cheap and then when the price goes back to normal they can get some easy profits.

BUK2016

full member

Activity: 770

Merit: 126

Quote from: sanjeev.lamani@ on September 04, 2017, 02:19:19 PM

Big governments are catching up with Bitcoin and other cryptocurrencies. And are crushing them.

A couple of days after announcing that Initial Coin Offerings (ICOs) are “seriously disrupted the economic and financial order,” the Chinese government banned ICO funding.

That was certainly bad news for cryptocurrencies, which crushed across the board, with Bitcoin losing close to 10 percent, Ethereum 21.74 percent, Litecoin 24.92 percent, and BitConnect 32.10 percent.

Coin/Investment Trust   Change 24H*
Bitcoin (BTC)   -9.84%
Ethereum (ETH)   -21.74
Litecoin (LTC)   -24.92
BitConnect   -32.10

This is one of the fundamental issues that usually affect the market value of bitcoin and any other crypto currency. Although the decline is temporal for with time both bitcoin and other crypto currency will bounce back.

eaLiTy

hero member

Activity: 2814

Merit: 911

Have Fun )@@( Stay Safe

Quote from: sanjeev.lamani@ on September 04, 2017, 02:19:19 PM

Big governments are catching up with Bitcoin and other cryptocurrencies. And are crushing them.

A couple of days after announcing that Initial Coin Offerings (ICOs) are “seriously disrupted the economic and financial order,” the Chinese government banned ICO funding.

That was certainly bad news for cryptocurrencies, which crushed across the board, with Bitcoin losing close to 10 percent, Ethereum 21.74 percent, Litecoin 24.92 percent, and BitConnect 32.10 percent.

Coin/Investment Trust   Change 24H*
Bitcoin (BTC)   -9.84%
Ethereum (ETH)   -21.74
Litecoin (LTC)   -24.92
BitConnect   -32.10

These news will not affect bitcoin at all,but the markets reacted to the news banning ICO from China and we saw the markets going down and these things does not have any direct impact on bitcoin to be frank,but the alt coin market is affected with the news as the coins from China cannot fulfill their promises and their future is at stake,it was expect that there will be regulation against ICO since they are getting millions of dollars worth of funds with every ICO,so it is not a big surprise.

South Park

hero member

Activity: 2884

Merit: 794

I am terrible at Fantasy Football!!!

Quote from: sanjeev.lamani@ on September 04, 2017, 02:19:19 PM

Big governments are catching up with Bitcoin and other cryptocurrencies. And are crushing them.

A couple of days after announcing that Initial Coin Offerings (ICOs) are “seriously disrupted the economic and financial order,” the Chinese government banned ICO funding.

That was certainly bad news for cryptocurrencies, which crushed across the board, with Bitcoin losing close to 10 percent, Ethereum 21.74 percent, Litecoin 24.92 percent, and BitConnect 32.10 percent.

Coin/Investment Trust   Change 24H*
Bitcoin (BTC)   -9.84%
Ethereum (ETH)   -21.74
Litecoin (LTC)   -24.92
BitConnect   -32.10

LOL, if that is the best they can do then they need to be worried, bitcoins is more affected by internal news than by these bans coming from governments, by the time they try to something more damaging to bitcoin it will be simply too late since bitcoin will become much more powerful in the next decade.

JL421

hero member

Activity: 812

Merit: 510

Yes even i saw the news the i feel extremely sad that we live in a world were people are getting more returns and the government isn't happy they should think that if we get profit we will spend more and more tax for them i hope the government stops doing this otherwise bitcoin will be destroyed

kehtolo

hero member

Activity: 707

Merit: 500

Get. A. Grip.

ICO's have next to nothing to do with bitcoin. They only get easily confused in somebody's head when they don'T know the difference between their arse and a blockchain.

ICO's - tokens..crowdfunded, capital raising ventures.

Blockchains including bitcoins are mined.

Of course..if you still think China banning ICO's (until further notice i should add, they are planning on regulating and licensing them! - Actually bullish! overall for ICO's and the whole cryptospace as a whole)

has or should have any effect of your bitcoins.. then be my guest. They're not realted, really, they're not.

ankylotic

sr. member

Activity: 477

Merit: 501

Quote from: Cacingkemi on September 05, 2017, 10:34:24 AM

Quote from: sanjeev.lamani@ on September 04, 2017, 02:19:19 PM

Big governments are catching up with and other cryptocurrencies. And are crushing them.

A couple of days after announcing that Initial Coin Offerings (ICOs) are “seriously disrupted the economic and financial order,” the Chinese government banned ICO funding.

That was certainly bad news for cryptocurrencies, which crushed across the board, with losing close to 10 percent, Ethereum 21.74 percent, Litecoin 24.92 percent, and BitConnect 32.10 percent.

Coin/Investment Trust   Change 24H*
(BTC)   -9.84%
Ethereum (ETH)   -21.74
Litecoin (LTC)   -24.92
BitConnect   -32.10

The government is eyeing BTC and destroying it? about 10% to 15% down the price, because the Chinese government is eyeing BTC because of such unique price movements.

i don't think they are very keen to destroy it or disappear it. i think a huge number of population from china is the world of crypto and there are a huge number of bitcoin miners are from china then why the try to destroy it. i think they have taken a good step of banning of ico's because there are a lot of scam ico's too.

Sahyadri

sr. member

Activity: 744

Merit: 266

Isn't market getting back from the crash just after a day? This shows market is today strong enough to bear such negative news. Dump didn't last long. Prices are again increasing of course with some fluctuations. 10-30% ups and downs are common in cryptocurrencies. This should be used as an opportunity to buy some more as top coins can easily get back to high price after a drop. These dumps are short term.

sanjeev.lamani@

member

Activity: 63

Merit: 10

Quote from: yishak on September 05, 2017, 02:02:35 AM

Actually, bitcoin is now down by 20% . The price of bitcoin is now around 4030 dollars Embarrassed

. Unlike what @HotCryptoNews said I agree that big governments like China are crushing bitcoins.

It's almost more than 48 hours but market is struggling to regain his previous position. Few of them are way below. Hope to see market swinging in full pace.

cellard

legendary

Activity: 1372

Merit: 1252

Quote from: alyssa85 on September 06, 2017, 06:34:07 AM

Quote from: cellard on September 05, 2017, 09:46:33 AM

Quote from: alyssa85 on September 05, 2017, 09:33:10 AM

Hong Kong regulators have now issued a warning about ICO's:

http://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=17PR117

Quote

As digital tokens involved in ICOs are transacted or held on an anonymous basis, by their nature they pose inherent and significant money laundering and terrorist financing risks. The SFC reminded licensed corporations and associated entities in its 16 Jan 2014 circular7 to take all reasonable measures to ensure that proper safeguards exist to mitigate these risks. Investors should also be mindful of the potential risks involved in ICOs and investment arrangements involving digital tokens. As these arrangements and the parties involved operate online and may not be regulated, investors may be exposed to heightened risks of fraud.

This feels co-ordinated. First China bans them. Then South Korea says it is thinking of banning them. Now Hong Kong issues a warning about them.

I wonder if Hong Kong is taking a pot shot at bitfinex?

Well, I don't believe in coincidences to be honest. I think it has to be something coordinated, or probably everyone was considering banning ICOs and they were just waiting for someone else to do it first to see how the market would react. Now that they have seen that idiots sell bitcoin too even if it has nothing to do with bitcoin, we are going to see a lot of governments releasing these news of "ICO banned" prior setting shorts on BTC and probably a couple big volume alts, profit from it, then watch it go to ATH.

You think they're trying to drive the cost of bitcoin down? I would have thought their ire was more towards Ethereum, upon which all these ICOs are built upon.

They know that people tend to panic sell whenever crypto related ban news rise, even if they have nothing to do with Bitcoin. Crypto is still a very new phenomenon, so there are a lot of people in Bitcoin that are panic sellers and prone to panic sell to such news, as demonstrated.

And also as expected, BTC hit the double bottom at $4000 and has now rebounded to $4600. The panic sellers that were expecting $3000 got smoked, shorters got annihilated. Holders win another day.

alyssa85

legendary

Activity: 1652

Merit: 1088

CryptoTalk.Org - Get Paid for every Post!

Quote from: cellard on September 05, 2017, 09:46:33 AM

Quote from: alyssa85 on September 05, 2017, 09:33:10 AM

Hong Kong regulators have now issued a warning about ICO's:

http://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=17PR117

Quote

As digital tokens involved in ICOs are transacted or held on an anonymous basis, by their nature they pose inherent and significant money laundering and terrorist financing risks. The SFC reminded licensed corporations and associated entities in its 16 Jan 2014 circular7 to take all reasonable measures to ensure that proper safeguards exist to mitigate these risks. Investors should also be mindful of the potential risks involved in ICOs and investment arrangements involving digital tokens. As these arrangements and the parties involved operate online and may not be regulated, investors may be exposed to heightened risks of fraud.

This feels co-ordinated. First China bans them. Then South Korea says it is thinking of banning them. Now Hong Kong issues a warning about them.

I wonder if Hong Kong is taking a pot shot at bitfinex?

Well, I don't believe in coincidences to be honest. I think it has to be something coordinated, or probably everyone was considering banning ICOs and they were just waiting for someone else to do it first to see how the market would react. Now that they have seen that idiots sell bitcoin too even if it has nothing to do with bitcoin, we are going to see a lot of governments releasing these news of "ICO banned" prior setting shorts on BTC and probably a couple big volume alts, profit from it, then watch it go to ATH.

You think they're trying to drive the cost of bitcoin down? I would have thought their ire was more towards Ethereum, upon which all these ICOs are built upon.

iamTom123

hero member

Activity: 490

Merit: 501

Quote from: sanjeev.lamani@ on September 04, 2017, 02:19:19 PM

Big governments are catching up with Bitcoin and other cryptocurrencies. And are crushing them. A couple of days after announcing that Initial Coin Offerings (ICOs) are “seriously disrupted the economic and financial order,” the Chinese government banned ICO funding. That was certainly bad news for cryptocurrencies, which crushed across the board, with Bitcoin losing close to 10 percent, Ethereum 21.74 percent, Litecoin 24.92 percent, and BitConnect 32.10 percent.

Coin/Investment Trust   Change 24H*
Bitcoin (BTC)   -9.84%
Ethereum (ETH)   -21.74
Litecoin (LTC)   -24.92
BitConnect   -32.10

That news coming from China was quite big and can be a catalysts for some movements in the world of cryptocurrency. However, just days after the market is already colored green again...and weeks from now that decision by China won't matter at all. Slowly but surely, the world of cryptocurrency is not anymore focused on China as there are now bigger and new markets conquered where cryptocurrency can operate with ease (even if there are also some rules and regulations that must be followed).

Months from now, opening of new markets can be happening in the continent of Africa and Europe as well as other countries in ASEAN group of nations. Soon, whatever may happened in China will not anymore affect that much the totality of the cryptocurrency market.

Topic: Big Governments Are Crushing Cryptocurrencies -- Bitcoin Down 10 Percent (Read 1818 times)