China Has Something to Do with Bitcoin's Price Increase After All - page 4.

Darker45

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Quote from: NeuroticFish on October 28, 2019, 04:48:25 AM

Quote from: stompix on October 28, 2019, 04:37:11 AM

Oh god, NOT China AGAIN!!! Seriously, no!!!! Cry

And the posts....the posts here... Cry

After such a declaration from China's president, what you expected, really? Grin

Because after god, the chinese president is the most powerful being.

China is so powerful! God created the world, yes. But the rest are made in china.

My pencil, slippers, mouse, keyboards, laptop, cellphone, cap, pen, head set, earphones, toothpick, glass, shirt, and almost everything that I see inside my tiny house are made in china.

The Bitcoin ASIC miners are made in china. The largest Bitcoin mining pools are in china. The price increase of Bitcoin is caused by china. The dump in the prices is also because of china.

Bitcoin is made in china. Satoshi is chinese. Bitcoin is china!

NeuroticFish

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Quote from: stompix on October 28, 2019, 04:37:11 AM

Oh god, NOT China AGAIN!!! Seriously, no!!!! Cry

And the posts....the posts here... Cry

After such a declaration from China's president, what you expected, really? Grin

Quote from: stompix on October 28, 2019, 04:37:11 AM

Blockchain doesn't mean bitcoin, how many times do you people need to read this to understand it?
[~]
As for the buying part, don't apply logic in it, there is no place for it in this madness.

You are right, but don't people buy more on feelings, rumors and FOMO?
I also said that blockchain can also help China in logistics.
But I somehow believe that China doesn't need a presidential statement for that. Of course, this is speculation, and we go back to China + Bitcoin = ~~Love~~ Price.

ivakar

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Quote from: cryptozink on October 27, 2019, 10:06:08 PM

China’s state-controlled television station, CCTV.com, recently hosted a segment breaking down Bitcoin, according to a prominent trader that closely follows the region’s cryptocurrency scene.

China's state controlled television explaining the basics of "first ever blockchain technology" #bitcoin $btc, and how a distributed ledger works

Imagine 1.3 billion people got to know bitcoin because state made an effort to explain how it works.

so do you think that before that day, no one from that 1.3 billion people had no idea about bitcoin?
hardly!
I think that as usually market manipulators played well against the market, they saw the market positions and boomed the market against it.

gentlemand

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Welt Am Draht

This is an interesting and surprising one which does indicate some interest in actual crypto, though certainly not the type anyone wants or needs.

https://twitter.com/DoveyWan/status/1188713741782667264

As for everything else I enjoyed the way people hailed the 'crypto law' that was passed the other day. It appears to be about being more careful with their passwords.

stompix

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Blackjack.fun

Oh god, NOT China AGAIN!!! Seriously, no!!!! Cry

And the posts....the posts here... Cry

Blockchain doesn't mean bitcoin, how many times do you people need to read this to understand it?
Just because Google is pouring money into android you got and buy angry birds shares?

Quote from: pooya87 on October 28, 2019, 12:03:18 AM

then why didn't bitcoin price rise up previous times where similar programs ran on the state television stations?
it seems to me like people are trying too hard to justify a simple price rise that is only a correction of a big drop that created a negative/reverse bubble. the fact that some program ran on TV in one country that many people may not have even seen it is not the reason why price went up, not to mention that even if "new people" were introduced to bitcoin, they wouldn't just run to buy bitcoin right away! specially since there aren't any exchanges left in China for them to buy bitcoin from!

Yeah, we always need to have an explanation for any movement.
If there is a dump, then some whale,CIA,SEC, stuff is the culprit, if there is a movement upwards it's people in Somalia buying coins.

As for the buying part, don't apply logic in it, there is no place for it in this madness.
Remember when during the Cyprus crisis people were buying bitcoin because they had their account locked by the banks? That was the time when the first pidgeon to pidgeon buy happened, Grin

Quote from: NeuroticFish on October 28, 2019, 04:33:45 AM

And the television teaches them about Bitcoin.

The news goes like this:

Quote from: cryptozink on October 27, 2019, 10:06:08 PM

China’s state-controlled television station, CCTV.com, recently hosted a segment breaking down Bitcoin,

Here is the source:
https://twitter.com/PandaofBinance/status/1188450279341076480
and the image

I'm going to award some serious merit to the one that can link that with anything that shows how bitcoin works.

NeuroticFish

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Quote from: cryptozink on October 27, 2019, 10:06:08 PM

Imagine 1.3 billion people got to know bitcoin because state made an effort to explain how it works.

So the president tells that blockchain is good.
And the television teaches them about Bitcoin.
I think that everybody is waiting for the next step: allowing the exchanges operate again in China. Hence the price rise...

pamsugas

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Of course, with the news that China is adopting blockchain technology that is used by bitcoin, it has an impact on the rise of bitcoin and also on January 1 2020, China made crypto regulation which means that China will legalize crypto again.

jseverson

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Quote from: cryptozink on October 27, 2019, 10:06:08 PM

China’s state-controlled television station, CCTV.com, recently hosted a segment breaking down Bitcoin, according to a prominent trader that closely follows the region’s cryptocurrency scene.

China's state controlled television explaining the basics of "first ever blockchain technology" #bitcoin $btc, and how a distributed ledger works

Imagine 1.3 billion people got to know bitcoin because state made an effort to explain how it works.

I don't think this was a direct contributor in the rise. Only OTC exchanges are allowed in China, and they don't have a direct effect on Bitcoin prices -- that means Chinese residents lining up to buy Bitcoin won't affect the market that much and that quickly. It might have influenced people from other countries to buy though, which is what seemed to happen with Xi's statement.

Quote from: Darker45 on October 27, 2019, 10:47:09 PM

China has something to do with Bitcoin's price increase. No one denies that. But, to be clear, the recent Bitcoin price increase is not solely about China. China was not everything to what happened. I don't like hearing statements saying China is the one that caused the pump, China is the reason why Bitcoin's price increased, China caused the massive dump, China is the one that controls the fate of Bitcoin because the largest mining farm is in China, etc. What do all these imply, that China is lording over Bitcoin? Or Bitcoin is in China's hands? I don't share this.

It might be a hard pill to swallow, but China undoubtedly has massive influence over Bitcoin. A vast majority of hashrate is behind their firewall, and we all know their government exerts a sizable degree of control over Chinese businesses (including most miners). Bitcoin can survive without China for sure, but it's going to be a massive stepback.

Wysi

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Quote from: Ailmand on October 28, 2019, 02:42:53 AM

There are a lot of big investors in China and I think a big portion of bitcoin is in China. They can affect and manipulate the price. I think the market price of bitcoin suddenly rose up just after their president announced support for blockchain technology. I guess China has a great influence in the market.

China has been cracking down on bitcoin and miners from few years and all of a sudden their support for blackchain is bit surprising and they do have miners but when it comes to investment there are other counties who have invested much more in bitcoin than China and I feel China is doing this just to control the bitcoin by having people invested and then again might threaten to ban it thus sending a panic selling waves across.

barabarian1

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in my opinion the rise of bitcoin yesterday was indeed more or less influenced by the news about the Chinese president who supported the blockchain. because most investors and bitcoin miners come from China. bitcoin prices in my opinion can indeed be influenced by news about cryptocurrency. Good news will push the price of bitcoin and bad news can also make the price of bitcoin go down.

Darooghe

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A lot of chinese investors and citizens hold or mine bitcoin. i presume it is not a significant portion of their population, but enough to manipulate market. prices have been seen to fluctuate as the Chinese government put out news or provide a glimpse as to where they are on regulating bitcoin and blockchain. China has never been a friend to Cryptocurrencies. the entire concept is in direct opposition to their own domestic ideology of control, restrictions and regulations. A quick google search of their domestic economic policy should give you insight into how they're going to handle bitcoin and other Cryptocurrencies.

As policy updates from the government come out, people are impulsively triggered to act on it and this influences both local and global markets of bitcoin-fiat pricing. There also is lot of speculation on Chinese investors getting into mining and HODLing which eventually secures the network and drives up the price as more people adopt on a global scale. if the Chinese government declares war, say bye to Cryptos adoption, or at least expect a slowly adoption.

Ailmand

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There are a lot of big investors in China and I think a big portion of bitcoin is in China. They can affect and manipulate the price. I think the market price of bitcoin suddenly rose up just after their president announced support for blockchain technology. I guess China has a great influence in the market.

kooboat

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BountyMarketCap

China has always been a major stakeholder of cryptocurrencies and not just bitcoin alone. There are many cryptocurrency enthusiasts who are actively involved in what happens to bitcoin.Most people are wrong when they assume that due to the numerous regulation involving the use of bitcoin, they are not really concerned about the price of bitcoin.

cryptozink

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He didn't have to mention Bitcoin for it to be affected. Remember, the majority of people know about Bitcoin, not blockchain or crypto...BTC is king.

Quote from: Oasisman on October 28, 2019, 12:07:30 AM

Quote from: cryptozink on October 27, 2019, 11:27:08 PM

Read about China's president Xi Jinping announcement yesterday. https://www.cryptozink.io/real-reason-why-bitcoin-price-shot-up-today-china-crypto-news/. I originally wrote that his announcement had nothing to do with the sudden price pump, but I have taken that back.....it has everything to do with it.

Quote from: Oasisman on October 27, 2019, 10:55:45 PM

It's always gonna be better if there's a link provided to validate this claim about China's involvement in the recent price pump. If this news is true, I still dont see any relevance from this news to the price. Not unless, Chinese government will remove the restrictions and bans against bitcoin and other Cryptocurrency, including exchanges. That way people could easily accumulate Bitcoin without being bothered against the authorities, thus, this will surely will make a positive impact in the market due to massive buy out.

I have read the news yesterday regarding the Chinese leader showing interest and future plans in blockchain technology, but he didn't mentioned about Bitcoin and other cryptocurrency ( I may be wrong, since there's a lot of source in the internet )
Now, I'm talking about the television station that has a Bitcoin related segment. Is China making a slow steps to take back what they are against of from Cryptocurrency?

cryptozink

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We're not talking about a regular state program. It's a state program with a population of 1.3 billion. And If any Chinese state program broadcast something like that before, they didn't do it in the same day as President Xi's announcing they're embracing blockchain technology.

Quote from: pooya87 on October 28, 2019, 12:03:18 AM

then why didn't bitcoin price rise up previous times where similar programs ran on the state television stations?
it seems to me like people are trying too hard to justify a simple price rise that is only a correction of a big drop that created a negative/reverse bubble. the fact that some program ran on TV in one country that many people may not have even seen it is not the reason why price went up, not to mention that even if "new people" were introduced to bitcoin, they wouldn't just run to buy bitcoin right away! specially since there aren't any exchanges left in China for them to buy bitcoin from!

cryptozink

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The broadcast is 100% true. Wait and see.

Quote from: blckhawk on October 28, 2019, 12:01:31 AM

Quote from: cryptozink on October 27, 2019, 10:06:08 PM

China’s state-controlled television station, CCTV.com, recently hosted a segment breaking down Bitcoin, according to a prominent trader that closely follows the region’s cryptocurrency scene.

China's state controlled television explaining the basics of "first ever blockchain technology" #bitcoin $btc, and how a distributed ledger works

Imagine 1.3 billion people got to know bitcoin because state made an effort to explain how it works.

Well now I'm quite confused. It really looked like it was only a whale manipulating the market. With much privacy to China, these news isn't relayed to us instantly. I've speculated at first that China has something to do with their announcement, but I certainly didn't know about it going on national television, so I thought it was just another whale. If it's true, then the possibility that China being one of the reason of the sudden surge is likely.

cryptozink

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Yep, that's big news. China allowing its 1.3 billion people to participate in this crypto market is a big game changer for Bitcoin and crypto as a whole.

Quote from: Kyraishi on October 27, 2019, 11:55:04 PM

Quote from: cryptozink on October 27, 2019, 10:06:08 PM

China’s state-controlled television station, CCTV.com, recently hosted a segment breaking down Bitcoin, according to a prominent trader that closely follows the region’s cryptocurrency scene.

China's state controlled television explaining the basics of "first ever blockchain technology" #bitcoin $btc, and how a distributed ledger works

Imagine 1.3 billion people got to know bitcoin because state made an effort to explain how it works.

Damn, that's something new. I thought the biggest reason was due to it being praised by the chinese president and then making a huge annoucment they they would be entering the crypto-currency market, this puts a different spin on things.

I definetly would say that the broadcast showcased that China was fully accepting of Bitcoin and it's likely the government coordinated it like so, and a lot of investers that were only stopped due to China's restrictions if it where finally able to dump funds in the crypto-currency.

They've made a huge impact, the recent price pumps tells us China means buisness.

Oasisman

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Quote from: cryptozink on October 27, 2019, 11:27:08 PM

Read about China's president Xi Jinping announcement yesterday. https://www.cryptozink.io/real-reason-why-bitcoin-price-shot-up-today-china-crypto-news/. I originally wrote that his announcement had nothing to do with the sudden price pump, but I have taken that back.....it has everything to do with it.

Quote from: Oasisman on October 27, 2019, 10:55:45 PM

It's always gonna be better if there's a link provided to validate this claim about China's involvement in the recent price pump. If this news is true, I still dont see any relevance from this news to the price. Not unless, Chinese government will remove the restrictions and bans against bitcoin and other Cryptocurrency, including exchanges. That way people could easily accumulate Bitcoin without being bothered against the authorities, thus, this will surely will make a positive impact in the market due to massive buy out.

I have read the news yesterday regarding the Chinese leader showing interest and future plans in blockchain technology, but he didn't mentioned about Bitcoin and other cryptocurrency ( I may be wrong, since there's a lot of source in the internet )
Now, I'm talking about the television station that has a Bitcoin related segment. Is China making a slow steps to take back what they are against of from Cryptocurrency?

pooya87

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then why didn't bitcoin price rise up previous times where similar programs ran on the state television stations?
it seems to me like people are trying too hard to justify a simple price rise that is only a correction of a big drop that created a negative/reverse bubble. the fact that some program ran on TV in one country that many people may not have even seen it is not the reason why price went up, not to mention that even if "new people" were introduced to bitcoin, they wouldn't just run to buy bitcoin right away! specially since there aren't any exchanges left in China for them to buy bitcoin from!

blckhawk

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Quote from: cryptozink on October 27, 2019, 10:06:08 PM

China’s state-controlled television station, CCTV.com, recently hosted a segment breaking down Bitcoin, according to a prominent trader that closely follows the region’s cryptocurrency scene.

China's state controlled television explaining the basics of "first ever blockchain technology" #bitcoin $btc, and how a distributed ledger works

Imagine 1.3 billion people got to know bitcoin because state made an effort to explain how it works.

Well now I'm quite confused. It really looked like it was only a whale manipulating the market. With much privacy to China, these news isn't relayed to us instantly. I've speculated at first that China has something to do with their announcement, but I certainly didn't know about it going on national television, so I thought it was just another whale. If it's true, then the possibility that China being one of the reason of the sudden surge is likely.

Topic: China Has Something to Do with Bitcoin's Price Increase After All - page 4. (Read 788 times)