Topic: CHINA Banning bitcoin: PBOC Says All Crypto-Related Transactions Are Illegal - page 5. (Read 899 times)

I don't know what you are talking about when you refer to the price of crypto - hardly makes any sense to employ such a vague reference in terms of talking about bitcoin prices.  If you are trying to analyze some kind of amorphous concept such as crypto, then of course, you are going to be able to find all kinds of strange stuff with such a meaningless conceptualization.

Surely, you must be wanting to refer to some phenomenon beyond bitcoin when you use the term crypto, but it does not mean anything when you try to lump a bunch of bullshit together and then somehow also tie it to bitcoin, and ultimately whatever you are talking about is vague when you use such term and you think about price performance in such a way, unless you specifically are talking about the price of bitcoin.. and if you are specifically talking about bitcoin, then focus on what is going on with bitcoin and use the word bitcoin to describe what you are talking about instead of using a vague nonsensical term.   

Regarding the price of bitcoin, it's recent performance does not seem strange at all to me.,. or at least, hardly at all.  Every 4-year price cycle that we have had so far, there have been various kinds of attempts to keep BTC's price down during the UPpity part of the cycle - and we seem to be in the midst of such UPpity part right now as I type this post, so even if there are various attempts to stop the Up portion from taking place or to stop it earlier than it would otherwise be going up, there is no real sign, at least not so far, that such efforts to stop the UP movement and up pressures early is successful or that such efforts are going to be successful.

Even if we are attempting to frame BTC's price movements in reference to earlier four year cycles, we should not absolutely expect that it's price movements are going to exactly mirror any of the earlier cycles, even though perhaps in the long term when we are looking back, we are largely going to be able to overlay the cycles and find them to be eerily similar even if while we are going through with them, we can also feel a lot of differences that seem to be going on, while caught up in the midst of the cycle.

Sure, anything can happen in terms of stopping the UP portion of the cycle from happening, but it seems way to early to write it off such up portion from happening.

In other words, what would you describe as strange exactly in terms of what is going on with bitcoin's price, bhooscream?  Anyone else believe that there is something strange that is going on with bitcoin's price movements and price dynamics, currently?  if so, please describe what is strange, exactly?  It's not like we have any guarantees that BTC prices are going UP from here, and where we are at is pretty damned bullish from my point of view, so if you believe it is strange, explain what is the strangeness, exactly?

We might probably gonna have to face this news(again) in the future.

This news will keep on popping every now and then that makes me feel like I'm immune to their BS. It makes me think that most whales are living in China because they are known to making such fud news based on what I've noticed. And anyone who fall for their traps would feel sorry because they suddenly lost what they were supposed to be holding instead.

Well, we gotta ride this fud and buy the dip since only weak hands would fall for their traps.

Same old shit want to spread by those manipulators and only weak hands will gonna buy that shit and  look what happen unto those people who believe easily on unverified fuds spreading for sure they lose their money for dumping yesterday or even last few days. People need to learn to verify what information they are reading and also they need to strengthened there balls to hold if there's something like this since if they keep dumping when there's a fud came for sure they cannot gain from this.

Also time to accumulate once we see the dip almost end since that is the time whales accumulate.

Thanks for your fast clarification, that makes people not assuming China tries another way to shake Bitcoin.
Anyway, I am curious why we saw some bad news about China banning crypto currently. I suspect a group of people take advantage of this situation, they use bad news from China to push people selling their Bitcoin at a cheap price. Look at the market condition and crypto price moves lately, seems a bit strange!!

Yes, you say, this news will certainly test the mentality of investors and cryto users in this world.
But this is a big challenge for the future development of cryptocurrencies.
As happened in 2018 when a lot of negative news about crypto was mainly in the case of hacking.
But we can see that cryptocurrencies are still growing and developing well to this day.

For sure, it will be an important testbed for everyone of us looking at China. How this story will evolve and the resilience of bitcoin there will be of utter importance.

This isn't really unique to bitcoin.  The ccp is exerting increasing levels of control over all aspects of chinese society.  China has always been hostile to foreign tech companies operating in the country, but recently they've started harshly restricting even chinese-based tech companies and basically anything that could exert influence over the society and sap loyalty from the party, including video game makers, tv and movie studios companies and others.  At the core of the moves are promoting ultra-nationalist tendencies as china gears up to challenge the US globally.  With the implementation of the digital yuan, bitcoin is just another element that threatens the party's power because they can't control it.  But unlike the maximalists on these boards that claim it's censorship proof and the government can't stop it, I say just watch how few people are going to be out of compliance now that it's fully illegal.  

China They have been doing this for years now and there will come a time when the world will no longer react to what is happening in that country when it comes to cryptocurrencies. Sure this could be another FUD, but the PBOC has been steadfast in their stance for years: bitcoin and crypto. I can say that this is just another news for Whale to accumulate even more BTC at this price as I have previously seen China ban BTC which led to many massive pumps in the market within a few days. . Bitcoin drops are indeed a normal thing and people are now used to these kinds of drops in the market. I don't care and am not surprised about these moves by China anymore.

Again why is china having problem with bitcon they only thing China don't know is that they don't know the only thing they can do now is only to adopt bitcoin even if they continue to ban bitcoin, Bitcoin is really growing massively which I believe very soon China news won't even have any effect on bitcoin price again. I believe China just there currency to be the best and they don't want any currency that will beat there own that's why they are trying to kill bitcoin.

Once China sees that bitcoin/crypto is in great condition without them, I think, they will change their mind again. It has proven even without them, bitcoin will survive and other entities or countries are very much open arms with bitcoin. Maybe, it is better that China will not participate anymore in this market but this is unfortunate for all bitcoin miners in China. I hope they already find their new place to conduct their business.

Same old same old, China banning Bitcoin. This sums it up





I remember back in old days ( for me that's 2013-2014) I used to worry about news like that, but now I caae t the point where I don't care about short term stuff like that as I am into this for a long run anyway.

People are overlooking the other big piece of news coming out of China now - the collapse of the biggest property company within China that has huge debts. Either one of two things is happening, or possibly a combination of both. Banning bitcoin puts a lot of news out there to distract from this massive company collapse that could ripple through the whole economy and send them into a recession. Secondly, a lot of people within authoritarian regimes are always looking to keep their money out of the hands of the central government that might confiscate it if they fall out of line or they're looking for convenient scapegoats at any time. This is an attempt to stop money fleeing the country in the simplest terms.

I'm a bit hesitant when it comes to China with their enforcement of their laws.

It's true China can't do anything to stop someone from sending a crypto transaction, but this is also a country that will throw you in jail if you criticize the government, so enforcement can occur on a whim if they feel the need that they're losing the crypto battle and want to prop up CNY. Give it enough time and they'll try to start enforcement, and we'll see if they end up being successful or not.

The never ending China ban at it again, and what is even annoying is the way the market is reacting to the whole news, I mean people have lost count of the number of China ban on crypto out there, China are determine to ruin the market with bad news anytime things are about to get into action, anyways, it won't be forever, a time will come when no one will pay attention to them any more.

Who the heck are the PBOC? Also, I stopped caring about what the Chinese government thinks about BTC and the crypto world ever since they made it clear that they want nothing to do with BTC a long time back.

History has proven the fact that no country(No matter how big it is) can successfully stop BTC or the crypto marker which is why this type of news is worthless and meaningless in my opinion.

I strongly believe that BTC will continue marching forward giving more and more power back to the people as time passes.

Oh man, CCP has done it (again).
So crypto transaction is illegal, and now what? They will arrest people if they transact using crypto?
The level of dictatorship there is unbelievable.

The more I read the news, the more I think this is price manipulation just to dump the market. The timing and the frequency are fishy.

It probably does not hurt to have another thread on this ongoing China ban bitcoin dynamic.


Bitcoin gives no shits whether china ban bitcoin or not.... so I am a little worried about your statement of a preference in this matter, and surely we see that china seems to be having quite a few struggles in regards to how to deal with bitcoin.

Years back there may have been many uncertainties in regards to how much governments might be able to stifle bitcoin and its innovations, and surely the chinese government officials are not dummies, and surely that have all kinds of various smart technical and governmental people from whom they can attempt to draw knowledge, but still we witness them shooting themselves in the foot over and over and over, and they still conclude that they are right about this, and they just keep fighting bitcoin in very weird and seemingly draconian ways that seems to cause so many contradictions, including that even their citizens are confused as fuck about what they can do or not do and there remains a lot of lacking of harmony, even though it is quite likely that the Chinese officials are striving to achieve some kind of harmony that is not really possible to achieve with what seems to be their attempts to beat bitcoin down and have wars with bitcoin (and surely shitcoins too.. and I personally am not having as many problems with some of the potential needs to engage in some wars with some of the scamming smoke and mirror bullshit that goes on in some of the shitcoin space)...

I guess my overall point is that china is not getting rid of bitcoin and bitcoin is not getting rid of china, so it seems quasi-nonsensical to be hoping that bitcoin can just move on without china.. because it is not going to happen, even if china may well be causing their lil selfies to be having lesser of a role than what they otherwise would have been able to have if they had figured out some ways in which they might have been able to take some lesser adversarial approaches in their dealing with bitcoin, but hey I am no fucking chinese official, so of course, they have rights to attempt to accomplish objectives that they believe are best  for their own citizenry even though from an outside perspective it seems that they are contributing (or exacerbating) some of the problems that they purportedly are striving to fix.. not that outsiders are going to completely understand their total agenda, even if we might have some clues and try to study into the matter more, to the extent that it matters in terms of our ongoing interactions with china whether it is through bitcoin or other ways... whether we are wanting to travel their, deal with their citizens or even to do business with their citizens, and if they are currently claiming that outsiders cannot do business with Chinese citizens in bitcoin, some of that just seems as a lot of fucking overreaching and maybe going to bite them in the ass in terms of neither really being able to enforce it or having to result in selective enforcement.. which surely many governments engage in those kinds of practices too, especially when they create or maintain laws that are seeming to be greatly out of sync with what people are doing or what people want to do.


I don't disagree with some of your overall points Hydrogen, except to the extent that you are striving to frame these matters in left/right frameworks or commie/capitalism bullshit.

Sure, there are a lot of anti-government folks in bitcoin, and there are people who have their very skewed views of what is too much government or what kinds of areas are o.k. for government intervention and whatnot, and in the end, bitcoin gives no shits... even while in the end, if there are various ways that governments are going to continue to exist (and of course they are), some governments are going to be able to more harmonize themselves with bitcoin and some of the sound money incentives of bitcoin, and some governments are going to have difficulties adapting.  It is going to take a decently long time for the various incentive systems to play themselves out, and perhaps even a couple of generations, even though bitcoin is having increasingly strong impacts, even now.  So, for sure, we know that some governments are panicking in regards to what to do about bitcoin and how to deal with it and to figure out if there are some balances that can be reached in terms of trying to deal with the actual dynamics of bitcoin including even basic shit like recognizing the difference between bitcoin and shitcoins and also trying to stay up-to-date with what is happening in bitcoin..

We do know that information spread is way more global, but also we have physical bodies too, so  the extent to which migration is going to happen into more friendly bitcoin jurisdictions is going to continue to be a phenomena that goes all over the place, including that even governments change who is in charge and also who is able to influence government policy directions change too.. I would not even assert that you are completely wrong in terms of attempting to frame some governments trying to be way more involved in seemingly social benefits areas, and they might end up having struggles in dealing with bitcoin differently than governments who might be less inclined towards providing social benefits, but I doubt that it is helpful to just lump governments into socialist or capitalists and try to presume from there in terms of if there might be more room for their being friendly rather than hostile to bitcoin.

You are welcome:



https://twitter.com/DocumentingBTC/status/1441427718009016325?s=20

Can we have one thread solely dedicated to keeping a count of China Banning bitcoin, I think it's maybe the 7th or 8th time maybe? I would really appreciate it if someone takes the honour and make a thread counting this. I would say this was just another news for Whales to accumulate even more BTC at this price because I have seen in the past that China banning BTC has led to many major pumps in the market within a few days. Bitcoin drops are really a normal thing and everyone now is used to such kinds of drops in the market, Bitcoin has been in the bearish mode for the last 10 days when this FUD wasn't even in the News, if you are blaming China is the reason for the drop then I think bicoin fell directly from 52k to 42k only because of China because Insiders would already have this news and would have sold their holdings.

Right after someday they are doing new drama all county when trying to accept it this time China trying to ban everything I cant understand this matter I have to study this subject.