Capital controls in China. No effect on Bitcoin?

Zivdafast

newbie

Activity: 57

Merit: 0

Quote from: hermanhs09 on July 08, 2016, 05:57:52 AM

If we get some crisis in china ( which is pretty impossible for me,they are the best economy so far ) we will get a huuge impact on bitcoin,
im sure about it.
Too many big whales in btc are from there,we have to hope that everything is going to be fine with chinese people Wink

The Chinese are just miners to secure the network of bitcoin. They are hard labours.. There is not many whales there.

hermanhs09

hero member

Activity: 574

Merit: 500

If we get some crisis in china ( which is pretty impossible for me,they are the best economy so far ) we will get a huuge impact on bitcoin,
im sure about it.
Too many big whales in btc are from there,we have to hope that everything is going to be fine with chinese people Wink

yugo23

sr. member

Activity: 476

Merit: 252

Quote from: tyz on January 29, 2016, 03:15:58 PM

Chinese government is considering to extend the capital controls in order to stop the outflows and take away the pressure on the Yuan currency. Obviously, there has been left capital of around 1 trillion dollars within last year. Why does it not produce an sustainable effect on Bitcoin price?
http://www.ft.com/cms/s/0/5213ea3e-c35d-11e5-b3b1-7b2481276e45.html

Why do you believe it doesn't produce a sustainable effect on btc price?
Fluctuations of btc prices come from so many different factors! We can only guess what's really affecting it concretly!
Maybe it's acting and we believe wrongly that brexit is at stake ^^

praprata

sr. member

Activity: 420

Merit: 250

Quote from: Zivdafast on July 08, 2016, 02:28:11 AM

Quote from: noormcs5 on June 19, 2016, 03:28:04 AM

Quote from: Zeke2345 on March 28, 2016, 05:11:03 PM

China has actually been buying up property all around the world to protect its self from being overexposed to the Yuan. Think they are well aware of how things can go sideways on them one of these days. If it does,I expect other currencies to fall as well.

Chinese people always think ahead of time and they know the potential and future of the bitcoins. See the timing of Chinese to invest in bitcoins just a month before halving, making halving too much profitable for Chinese miners as most of the coins are mined in china these days.

So the Westerners should buy more bitcoin as it is the future of money and if you do not want to be a slave, you have hold bitcoin.

For EU people bitcoin is not the main asset to invest it. The EU government is doing all that it can to stop bitcoin by implementing bogus laws.

tyz

legendary

Activity: 3360

Merit: 1533

The brexit has shown that established western fiat currencies like the British pound are not immun against big dumps. I am pretty sure it was not the last major currency which falls in value that much. We just need to take a look at Italy and the hugh problems with banks. The Euro could be the next victim of the massive debts.

Quote from: Zivdafast on July 08, 2016, 02:28:11 AM

Quote from: noormcs5 on June 19, 2016, 03:28:04 AM

Quote from: Zeke2345 on March 28, 2016, 05:11:03 PM

China has actually been buying up property all around the world to protect its self from being overexposed to the Yuan. Think they are well aware of how things can go sideways on them one of these days. If it does,I expect other currencies to fall as well.

Chinese people always think ahead of time and they know the potential and future of the bitcoins. See the timing of Chinese to invest in bitcoins just a month before halving, making halving too much profitable for Chinese miners as most of the coins are mined in china these days.

So the Westerners should buy more bitcoin as it is the future of money and if you do not want to be a slave, you have hold bitcoin.

Zivdafast

newbie

Activity: 57

Merit: 0

Quote from: noormcs5 on June 19, 2016, 03:28:04 AM

Quote from: Zeke2345 on March 28, 2016, 05:11:03 PM

China has actually been buying up property all around the world to protect its self from being overexposed to the Yuan. Think they are well aware of how things can go sideways on them one of these days. If it does,I expect other currencies to fall as well.

Chinese people always think ahead of time and they know the potential and future of the bitcoins. See the timing of Chinese to invest in bitcoins just a month before halving, making halving too much profitable for Chinese miners as most of the coins are mined in china these days.

So the Westerners should buy more bitcoin as it is the future of money and if you do not want to be a slave, you have hold bitcoin.

SilverPunk

sr. member

Activity: 350

Merit: 250

The Blockchain Evolution of Prediction Markets

Quote from: noormcs5 on June 19, 2016, 03:28:04 AM

Quote from: Zeke2345 on March 28, 2016, 05:11:03 PM

China has actually been buying up property all around the world to protect its self from being overexposed to the Yuan. Think they are well aware of how things can go sideways on them one of these days. If it does,I expect other currencies to fall as well.

Chinese people always think ahead of time and they know the potential and future of the bitcoins. See the timing of Chinese to invest in bitcoins just a month before halving, making halving too much profitable for Chinese miners as most of the coins are mined in china these days.

Yes ,chinese is good when it terms of investments thats why even there is a huge number of population there they can still manipulate the richness of their country .they are ahead of technologies business and investing matters .so most of them holds a lot of bitcoins.

noormcs5

hero member

Activity: 2814

Merit: 618

Leading Crypto Sports Betting & Casino Platform

Quote from: Zeke2345 on March 28, 2016, 05:11:03 PM

China has actually been buying up property all around the world to protect its self from being overexposed to the Yuan. Think they are well aware of how things can go sideways on them one of these days. If it does,I expect other currencies to fall as well.

Chinese people always think ahead of time and they know the potential and future of the bitcoins. See the timing of Chinese to invest in bitcoins just a month before halving, making halving too much profitable for Chinese miners as most of the coins are mined in china these days.

OROBTC

legendary

Activity: 2940

Merit: 1865

...

Every report that I have read indicates that the Chinese are doing the bulk of BTC buying over the past 10 days or so. There is an effort among some of the wealthy in China to get money out, without doubt some of that may be via BTC. BTC allows easy "export" of capital, capital controls don't work w/ Bitcoin...

And there are a LOT of ways to get BTC out of China. Hardware wallets (my favorite). blockchain.info wallet & similar (only recommended for short-term use). In a smartphone. Or just direct transmission of BTC to a trusted one already outside China.

Easy peasy.

vero

hero member

Activity: 518

Merit: 500

Quote from: tyz on January 29, 2016, 03:15:58 PM

Chinese government is considering to extend the capital controls in order to stop the outflows and take away the pressure on the Yuan currency. Obviously, there has been left capital of around 1 trillion dollars within last year. Why does it not produce an sustainable effect on Bitcoin price?
http://www.ft.com/cms/s/0/5213ea3e-c35d-11e5-b3b1-7b2481276e45.html

I think if the Chinese government took the decision to take the pressure on the yuan, it will have an impact on price increases due most of the holder of bitcoin is china of course they will secure their money so as not eroded by inflation by buying bitcoin.

Legasean

sr. member

Activity: 338

Merit: 250

Quote from: tyz on January 29, 2016, 03:15:58 PM

Chinese government is considering to extend the capital controls in order to stop the outflows and take away the pressure on the Yuan currency. Obviously, there has been left capital of around 1 trillion dollars within last year. Why does it not produce an sustainable effect on Bitcoin price?
http://www.ft.com/cms/s/0/5213ea3e-c35d-11e5-b3b1-7b2481276e45.html

Spectators think this is the reason of the current rise. Which I doubt.
Every time the price goes up it's on weekends, where banks etc are closed. The price is being manipulated and it's not the chinese people buying in.

tyz

legendary

Activity: 3360

Merit: 1533

Really? Take a closer look at the volume of fiat currencies in Bitcoin trading from March 2016.
https://twitter.com/carsoncole/status/705493658309513216

Chinese Yuan beats US-Dollar and Euro by light years. This means most of the price increasing is because of Chinese trading. If they increase their trading volume than the Bitcoin price will heavily be affected.

Quote from: HeroCat on June 16, 2016, 09:19:39 AM

It will not affect BTC, because BTC market price depend from demand - buy/sell and market is worldwide, especially USA, therefore China can not make real effect on BTC price. Grin

serjent05

legendary

Activity: 3052

Merit: 1281

Get $2100 deposit bonuses & 60 FS

Quote from: HeroCat on June 16, 2016, 09:19:39 AM

It will not affect BTC, because BTC market price depend from demand - buy/sell and market is worldwide, especially USA, therefore China can not make real effect on BTC price. Grin

IF Chinese demand on Bitcoin is permanently increasing day by day, then this will greatly affect BTC price, same goes if they abandoned that demand, the Bitcoin bubble will burst and BTC price will plummet. Either way every single person generally have effect on price of Bitcoin, it might be a nano effect or a huge effect. Remember price is driven by supply and demand so every buy and sell does have a real effect on BTC price.

HeroCat

hero member

Activity: 658

Merit: 500

It will not affect BTC, because BTC market price depend from demand - buy/sell and market is worldwide, especially USA, therefore China can not make real effect on BTC price. Grin

Pab

legendary

Activity: 1862

Merit: 1012

Capital controls in China , Capital controls in USA,Russia,Europe,all govs are trying to control capital
effect on bitcoin,any,if you compere bitcoin market to fiat money market bitcoin is small,but now investors looks at bitcoin more like in the asset to invest

pereira4

legendary

Activity: 1610

Merit: 1183

Bitcoin doesn't care about Capital controls, it just works, that's why millions and millions are being moved as we speak out of china, you can see it in fiatleak.com, the amount of BTC being bought from china increases every day for years now.

tyz

legendary

Activity: 3360

Merit: 1533

Why do Chinese manipulate Bitcoin price in your opinion? Roll Eyes

I think they do no manipulate it accidently, they just want to bring capital abroad and need a "tool" to avoid the capial controls. Bitcoin is such a tool. So it is no price manipulation by accident just a natural increase of demand.

Quote from: DuckKeeper on June 14, 2016, 10:14:04 AM

Quote from: tyz on January 29, 2016, 03:15:58 PM

Chinese government is considering to extend the capital controls in order to stop the outflows and take away the pressure on the Yuan currency. Obviously, there has been left capital of around 1 trillion dollars within last year. Why does it not produce an sustainable effect on Bitcoin price?
http://www.ft.com/cms/s/0/5213ea3e-c35d-11e5-b3b1-7b2481276e45.html

The Chinees try and manipulate the Bitcoin and I do not know why there are doing this. I hope that nothing will change because of this, I am here to make money.

DuckKeeper

sr. member

Activity: 364

Merit: 250

Quote from: tyz on January 29, 2016, 03:15:58 PM

Chinese government is considering to extend the capital controls in order to stop the outflows and take away the pressure on the Yuan currency. Obviously, there has been left capital of around 1 trillion dollars within last year. Why does it not produce an sustainable effect on Bitcoin price?
http://www.ft.com/cms/s/0/5213ea3e-c35d-11e5-b3b1-7b2481276e45.html

The Chinees try and manipulate the Bitcoin and I do not know why there are doing this. I hope that nothing will change because of this, I am here to make money.

Slowturtleinc

member

Activity: 84

Merit: 10

As much as China would love to control everything they just do not have the power set up to push every one aside.

luciann

sr. member

Activity: 252

Merit: 250

Quote from: Hirose UK on March 28, 2016, 07:20:20 PM

Quote from: tyz on January 29, 2016, 03:15:58 PM

Chinese government is considering to extend the capital controls in order to stop the outflows and take away the pressure on the Yuan currency. Obviously, there has been left capital of around 1 trillion dollars within last year. Why does it not produce an sustainable effect on Bitcoin price?
http://www.ft.com/cms/s/0/5213ea3e-c35d-11e5-b3b1-7b2481276e45.html

I'm wondering.
perhaps China's control does not affect the world so much, or it's still trying, in a process of changing the capital.
don't know exactly, just see in a next couple years.

They been trying to control over the us dollar, like someone mention above.

But like you also point out, china still doesnt have much power like we think buts its in the process with them which would take more time.

Topic: Capital controls in China. No effect on Bitcoin? (Read 1966 times)