Topic: China Has Something to Do with Bitcoin's Price Increase After All - page 2. (Read 788 times)

Yep, China doesn't actually provide the cheapest option for manufacturing anymore:


I don't believe they orchestrated it, but the market has always been moved by narratives. Support from China (regardless of the authenticity being in question), which is perceived to be a huge thing by a lot of people could build hype and raise prices. No one can really say what drove it, but I'd say it's highly likely that Xi's statement was a factor.

Recently, Bitcoin practically did not react with its price to either positive or negative news. The events that took place in China, namely: the statement of the President of China that the country will strive to become one of the leaders in implementing blockchain technology, as well as that they talked about Bitcoin and the operation of cryptocurrency on state television in China, is not significant, which could lead to a sharp increase in cryptocurrency prices. The reason for the price increase, if any, is something else.

Don't worry man, that's why I put three smiles after the pharmaceutical stuff, it was also a joke.  

But the whole everything is made in China stuff drives me nuts sometimes (not today)
Speaking from central Europe, I think that 90% of our clothes are made in India and Bangladesh. Went to a Nike store a week ago and everything there was made in India, I took the time this morning and checked, my Gillette blades are made in Poland, the foam is actually from the Uk, my shampoo in Germany and the balsam in Poland,  I got a fridge from Poland, the heating is part dutch part finish (the radiators) , the stove is Turkish, a lot of the small stuff like mixer, expresso are in Hungary, Turkey and Germany....actually I have no appliance in all the home that is made in China.

And the funny part, yeah my phone is made in China but my laptop is in Taiwan
Bottom line, nope, not everything is made in China and it simply can't and won't be.

And exaggerations like this drives people to think that China has bumped the price...

ps...
Today I learned a new thing, I was so sure that pangolins live in South America  



Nice contradiction:P
Bro, China matters to the bitcoins just as much as me and you!
The country where the capital city you can die of hunger with a phone full of bitcoins matters zero
All they do is faking, fake numbers, faking volume, faking usage, faking everything.

We knew how China move they will never act or deliver news without their own intentions to be pushed,what is very alarming here is after all their stands and denial about cryptocurrency,now they are seems to be soften their position?the question is why?and what’s the motive?for many reason I am thinking something not right for this blasted news

I'm sorry if it sounded different to you. I admit I should have at least put a  in the end to make everything about my post a bit clearer.

Thank god the top 20 pharmaceutical companies are all located in Europe and the US or else they would have contained all kinds of herbal and opium and some weird parts of weird animals like pangolin and gecko. 

By the way, I am not chinese but through some modern and subtle ways of colonization I can feel that my country is made in china, too.

The truth is the latest news from the president of China stating that they must assume leadership in blockchain technology has had a positive impact, there are many Chinese investors in the cryptocurrency market and with this kind of news there is more motivation and a favorable legal framework is expected for cryptocurrencies in China, where a large volume of people can use them.

I wonder if this is true. Articles I've found also use this Twitter account as their source. It's really hard to tell what China would and wouldn't do at this point. It would also be interesting how people would react to censorship if it (potentially) favors them lol.


They do allow OTC exchanges, which is something I suppose. And the only (or at least largest) reason they banned regular exchanges is to curb capital outflows, or so they say.

I do wonder why Xi himself would publicly come out in support of blockchain tech, but we can only assume they have something big in the works. I don't think it will be good for Bitcoin.

Then she said;
All I can say is this to me it's a sign of begining of the nationalization of Bitcoin/Cryptocurrency related infra in  mainland

Eventually, all things can be state-owned, or at least partially (mining, ASIC, exchanges, wallets, etc etc) Link

However, it's nothing until proven to be true. I don't buy Chinese news regarding bitcoin, they can't control it, they can't control bitcoin users although they have banned major things related to bitcoin.

this is more visible emphasizing the understanding of continuous adoption (propaganda) and in the end they catch many fish at once. But I don't deny they also started to do at least positive education.

so far they have always done the opposite thing on a large scale and I still believe it. Their fundamentals this time look like a "temporary control" technique for taking a stand of what is happening in the US. Then bitcoin rises dramatically? of course due to practical speculation.

Only when China allows local exchanges to operate again, I'll believe in their technocratic blockchain crap.

In the end, it's contradictory to promote blockchain while refraining projects from raising funds from investors.

Well, China is a world of contradictions...

I totally agree with this statement " the entire concept is in direct opposition to their own domestic ideology of control, restrictions and regulations."

Actually the Chinese rich like to buy imported things, often from America and Europe. They even go to a franchise known to sell imported (expensive) American goods called, wait for it... Walmart. Indeed, Walmart China sells expensive American goods that most people can't buy there.

Pharmaceutical companies have a giant gotcha, some countries (i would bet China too) simply don't acknowledge their IP, and whatever those giants make gets copied as generic brands. Neighbor India is very large in that, and quality varies. The fewer Chinese rich can afford the expensive US/EU brands, while the masses go for generics. Just like electronics and clothing.

Declaring Satoshi Chinese is a bit of a stretch, but the other points are true. All Asic production that matters is in China. Bitmain, MicroBT, Avalon, Inno, etc, all Chinese.

China's capacity to manipulate bitcoin price in the market is debatable, but they are one of the largest. No matter how much you dislike them, they are stronger than most countries, its economy far surpassed the others when it became the world's manufacturing hub.

The Chinese rich are a minority, but that minority amounts to about 1 million people. The market of rich people in China is actually larger than in any other country. Have you seen the documentary People's capitalism of China? You would be surprised what those crazy Chinese rich do, and you have seen a few of them in the cryptocurrency space...

Do you know who is going to lose from the "economic war" started by Trump? USA. The Chinese know this very well, and they can simply wait until Trump is gone. Americans on the other hand, well, i guess they are wealthy enough to cope with higher prices of everything...

As much as we want to stop thinking that bitcoin's price in the market is driven by any country, so as china, we can't deny the fact that China's reputation is very huge and powerful that their words could manipulate things. So if they declare that they will be acknowledging blockchain or they've already acknowledged blockchain and commend bitcoin for being one of its greatest customers in using a ledger, they'll surely could take part in changing and influencing people's mind.

We know that the actions of China affects Bitcoin price but of course China is not the only factor on the change of the price. First and foremost, Bitcoin has volatility and there are not certain times about what will happen.

Their reputation is their key. They have enough influence to attract other countries to get along with their decisions. Due to the announcement of the Chinese President, not only the citizen in China but also in other countries are now starting to store bitcoin, they expect to have something huge will happen on its price.

China's population coupled with their wealth can push the price to heaven. Anytime there is positive news from china about Cryptocurrency or blockchain, especially from the government angle, there is always a positive impact on the market. The rate at which the price of bitcoin picked is something else.

You couldn't make it up.



The most interesting thing will be to see how other governments react to this. They can't continue to tread water making vague threats or compliments. And what's doubly interesting is how they choose to treat Bitcoin vs 'blockchain'.

From watching all those Libra hearings there's definitely an awareness that Bitcoin could float away and be embraced elsewhere to the detriment of the US.

China has undoubtedly influenced Bitcoin, supporting the implementation of Blockchain. However, the main reason for the growth was the news about Bakkt and the closure of a large number of short positions

It looks like the most massive advertising of Bitcoin. Although, as statistics show, Bitcoin is not considered the top cryptocurrency in China. The most used there is EOS now. However, perhaps after such a reportage by CCTV.com the situation will change

You're reading way too much into it.
Whenever you will talk about the inception of blockchain, like it or not, Bitcoin gonna come in discussion. Xi Zinping clearly talked about embracing blockchain technology which could be disruptive tech in many sectors. He didn't talk about lifting any kind of ban that Chinese government has imposed on cryto.
Moreover, don't just assume that the whole population of 1.3 Billion gonna watch it. State controlled channels' reach isn't that high.