Topic: China Has a Trick up Its Sleeve (Read 1249 times)

It's been tough to find hard data on this (I've searched).

I would venture a guess that up to half of BTC could be held by Chinese and Russian investors.

It would not be practical for a wealthy person to keep all assets in BTC, but 3-10% would not be unreasonable.

Chinese miners probably hold significantly more of their wealth in BTC- but they are a minority of the investment community. 

More than the attitude of the Chinese, what matters is the attitude of the Chinese government.
There is large scale government intervention by the government across markets.
If they don't want bitcoin to take off as an asset class, it won't

Chinese have shown their love to bitcoin and crypto in past and also recently on november of last year. I also hope to get some huge pump like that before reward halving on july. I think chinese are collecting money to pump up on may or june of this year.

the is one reason whyt hey are doing so, with other altcoin , it's because they hold a vast share of the network, in many alt, not only bitcoin

this mean that they want to preserve their profit in the mining sector, there is now ay they will let bitcoin die, or any other altcoin in which they are heavily involved, rest assured about tis

China really does play a huge role for Bitcoin. If China didn't mine what it does, we would be way short of miners. China is sort of like the backbone of Bitcoin, it holds it up.

yes we have heard about chinese investor are already shifting assets to BTC,can you tell me how much they do that?all of their asset?or just some?and hw about now,bitcoin price going down again,its have connection with china again?

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That's a very interesting and high quality article, litecoinguy, with lots of information I have not seen elsewhere.  I hope that you will consider writing more articles!

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BTW, the estimates of Chinese national gold that I have the most faith in (which is not much faith, China IS secretive) is 4000 - 8000 tonnes.  One idea floating around is that China will wait to announce their NEXT stock holdings of official gold (there is always a lag time between when they acquire gold, then announce how much they have) when they exceed the USA national holdings of +/- 8100 tonnes.  Most American national gold is at Ft. Knox, Kentucky.

That 8100 tonnes (total US) probably does exist, my best guess is that the conspiracy theories are wrong.

(Small amounts of US official gold holdings are in Denver, West Point and a little at the FRBNY, see below.)

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Also note that the Federal Reserve Bank of New York also holds gold, around 6000 - 7000 tonnes (depending on how much Germany and Holland have taken back home), which is mostly FOREIGN owned gold, there is a little bit (400 tonnes) of American national (government owned) gold there.

Note that the Fed does not hold any gold of their own, they own Gold Certificates (non-transferable, bummer!) issued by FDR's government when they confiscated the gold in 1933.  The Fed values their "gold" at $42.22 / oz (that artificial total value is some $9 billion IIRC), but that is paper gold only...

The chinese will manipulate all they can. Good read.

This is very true. Since I was into litecoin it was $2 and decreasing. Now I check and it has almost doubled since I started receiving them 8 months ago. Something driving up the price since I always thought it was in conjuction of what bitcoin was doing but since bitcoin has not doubled in the last year something else is causing this rise in price.

market movers have very deep pockets, especially when they operate as group. it can happen at any time, if it isn't now, then maybe a few months later.

When the Fed is going to realize it plans to increase interest to 1.6 % then we will see EUR/USD parity or probably about.
There are too many elections and callenges for European Union in order to assure a stable currency.

You'd need quite a large investment to influence the price like that though... Not saying it's impossible, but unlikely to happen any time soon.

litecoin is much easier to manipulate. if the same guys will also try to do the same with bitcoin, then they probably can get the price up by $50-$100 at most. which is still a great increase. i only don't like that the price gets dumped down afterwards. these kind of price increases are not what most people are looking for.

I think your analysis is spot on.

Chinese investors are already shifting assets to BTC, in my view, and this explains at least some of the price increase since August.

Very interesting reading with some good points. You really do poses a fantastic ability to simplify a rather complex scenario to plain understanding English.

I believe the same thing will happen to the Russian economy this year as well. But it will just take some time for it to occur to them not to ban something that will eventually take over their own economy one day. It will be out of a sense of fear if they do ban it forever to use it.

Yes curious your article was actually very very good very clear analysis of China and global economy. However you dont have any idea about EUR USD??? Seems a bit strange to me

Very well written article, thanks! Passed on by Twitter and Facebook.

Well, there are some super avid chinese scammers out there, look at the MMM global super ponzi scheme, it was a success, so much people involved.
Litecoin will always have that extra edge on the rest of alts since its in the global conscience of people "the original alt". BTC is king, and LTC is king of alts, so LTC will always be prone to get a good pump when king starts running to the moon again. Im not gonna risk it tho, all in for BTC.

i guess you should do that when you already own bitcoin Mr  


@abs350

Fiat is doomed.