Random google search picture of a Chinese lamp post
Are you a bit more relaxed now?
Remember April/May 2013, after the FinCEN ruling, when western exchanges were dropping like flies, because bank accounts frozen or plain theft? The big bitcoin fuckup of 2013? When BTCUSD painfully and slowly slid from 130 to 90, with a few bulltraps along the way?
Well welcome to China fuckup in 2014. With the difference that China is a corrupted country governed by thieves whose agenda is unclear, even to themselves. (Yeah, worse than US). Pricewise, I speculate that such lack of clarity may prolongate the pain.
In 2013, the real bottom came only two months after bad news.
Also the hodlers' and the potential investors' minds are now clouded by the (legitimate) suspect that the price has been propped up all along by Gox cooking their books.
Most acquaintances of mine that know I am involved with bitcoin did not have an opinion about bitcoin in 2013. Now they think that I'm some sort of gambler, or worse that I am involved in criminal activity. I'm serious. Even IT people. It is almost shocking to me, to the point that I do not bother talking about bitcoin anymore.
The masses are reactionary by nature, and hence they'll stay poor by design. There is a reason why they vote for thieves, keep the same job until they lose it, and live all their life in the same country.
It gets darker before the light comes.
