China warns Bitcoin is heading to zero - page 5.

suzanne5223

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Quote from: FMCPAY_GLOBAL on June 22, 2022, 11:15:44 PM

Official Chinese national news media outlet warns readers that Bitcoin could go to zero value in order to dissuade them from investing in and using cryptocurrency.

First, we shouldn't expect positive things from a country that's governed in a Communist way and for the record. The Chinese government never supported Bitcoin what they always do is benefit from it and the crypto they once supported was NEO whereas they raised funds for their construction company through IDO in BTC and taxed BTCminers.

We shouldn't expect them to support BTC now after what they did to Bitcoin miners in their country and the far as i could remember they always made this exact statement about Bitcoin when it bears season.

Lucius

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Quote from: _BlackStar on June 23, 2022, 01:55:49 PM

So what do you think about the news? Do you think it will lower the price of bitcoin again in the near future?

Why do you think the OP will answer your question? He does not participate in discussions, but benefits from promoting his project - and anyone who quote his post only gives him extra visibility. In addition, it is more than obvious that he works for CT by shilling their links in every post.

BobK71

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Quote from: Lubcub62 on June 22, 2022, 11:52:14 PM

every year have gotten used to hearing this kind of fud. But strangely, the more fud, the more famous bitcoins become. So don't take it too seriously. just make it an annual entertainment. because many have said that about bitcoin.

Today China is one of the most powerful countries in the world. The country is trying to give the attention to America, especially from the economic point of view. They always think in advance. We know that cryptocurrency is now a potential platform where leading countries want to take control over it. In the Ukraine-Russia war we see crypto currency awareness.

According to us, China works with a very sharp intellect. It is difficult to say what they really want. It could be that they are trying to warn their citizens because of big scams. Maybe they want to bring BTC under control from the dip through negativity.
Personally, I understand that it doesn't matter how much one obstructs BTC, even if it has a temporary effect, it will turn it again.

adzino

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Of course they are going to warn people that bitcoin is going to head to zero. They don't like bitcoin, so they will try their best to stop bitcoin and other crypto currencies to become a mainstream currency. After all, if they do become the mainstream currency, China will be in a serious disadvantage since they have fully banned the usage of crypto currencies in their country and focusing on their own digital currency. All they are trying to do is eliminate their threat.

evichi

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Chinese government is making effort to dissuade its citizens from adopting cryptocurrency, especially Bitcoin. The downtrend of the crypto market offers them the opportunity to make false propaganda of Bitcoin/other cryptos. Obviously the FUD is false, rather I will say that Bitcoin is simply preparing for another bull run. This is not the first time this is happening, according to history.

darkv0rt3x

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Quote from: TimeTeller on June 23, 2022, 05:09:53 PM

Quote from: _BlackStar on June 23, 2022, 01:55:49 PM

Quote from: FMCPAY_GLOBAL on June 22, 2022, 11:15:44 PM

-snip-

So what do you think about the news? Do you think it will lower the price of bitcoin again in the near future?

China is too bad at the moment about how they should make FUD in the crypto market. They don't like decentralization so they have to fight it, but what are the benefits? Nothing, they will just do it and keep doing it and so on until the crypto community truly believes that China is the biggest liar in the crypto world.

Somehow I feel China is just going against the grain regarding the growth of crypto in the world. This was absolutely ridiculous, but it would make weak hands tremble.

We have seen in the past years that China not being friendly towards crypto market.
Remember, when they banned their miners? But despite of that situation, btc continues to survive.
It may have a slight impact on that period but afterwards, it is like the same.
So in that scenario, we have seen that China not participating in this market is no big deal anymore.
I believe that even if they warn btc heading to zero, just ignore it because it won't happen.

Not only that.
I leave a question "in the air".
Is actually mining operations 100% staalled/stopped in China? I mean, I bet there are quite some operations still going strong and who knows if the government themselves aren't backing up a few! This is inevitable. Bitcoin will come sooner or later! The current war is probably "stepping the pedal to the metal" in this regard!

TimeTeller

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Quote from: _BlackStar on June 23, 2022, 01:55:49 PM

Quote from: FMCPAY_GLOBAL on June 22, 2022, 11:15:44 PM

-snip-

So what do you think about the news? Do you think it will lower the price of bitcoin again in the near future?

China is too bad at the moment about how they should make FUD in the crypto market. They don't like decentralization so they have to fight it, but what are the benefits? Nothing, they will just do it and keep doing it and so on until the crypto community truly believes that China is the biggest liar in the crypto world.

Somehow I feel China is just going against the grain regarding the growth of crypto in the world. This was absolutely ridiculous, but it would make weak hands tremble.

We have seen in the past years that China not being friendly towards crypto market.
Remember, when they banned their miners? But despite of that situation, btc continues to survive.
It may have a slight impact on that period but afterwards, it is like the same.
So in that scenario, we have seen that China not participating in this market is no big deal anymore.
I believe that even if they warn btc heading to zero, just ignore it because it won't happen.

justdimin

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Quote from: FMCPAY_GLOBAL on June 22, 2022, 11:15:44 PM

Official Chinese national news media outlet warns readers that Bitcoin could go to zero value in order to dissuade them from investing in and using cryptocurrency.

The Chinese government has capitalized on the violent downturn in the crypto market by warning crypto investors that Bitcoin prices are “heading to zero.”

The South China Morning Post reported on June 22 that Chinese national news media agency Economic Daily had issued the warning about the largest cryptocurrency by market cap to further dissuade citizens from adopting the use of crypto.

The Economic Daily report says the west is to blame for creating a highly-leveraged market that is “full of manipulation and pseudo-technology concepts” which it said was an “important external factor” which contributes to Bitcoin’s volatility.

Of course nobody cares about what china says in the macro sense. Not saying that they do not have the chance to make it go to zero, but it is clear that we are talking about a nation (or government in this case) that hates bitcoin and crypto to begin with and tries to do everything in their power to make it go to zero if they can do it.

So, if they warn about it, that is nothing new, they would be warning obviously because it is something they wish to happen, just because they wish it, doesn't mean that it will happen. I personally believe that bitcoin will be going to 100k+ on the next big bull run, and China will try to do some things to prevent that for sure.

The Cryptovator

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Likely they want to accumulate at a cheap price. Bitcoin is already in a downtrend and they want to dump more. So that they could accumulate more lol. A lot of crypto users in China, so are trying to spread FUD making panic sell and dump more. If Bitcoin comes to the ZERO which isn't possible, the total crypto market will be destroyed. Nothing will exist here. I can't imagine this kind of situation where big institutional investors buy and store Bitcoin. What was the impact when China ban Bitcoin mining? Nothing. So nothing will happen for China FUDs.

_BlackStar

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Quote from: FMCPAY_GLOBAL on June 22, 2022, 11:15:44 PM

-snip-

So what do you think about the news? Do you think it will lower the price of bitcoin again in the near future?

China is too bad at the moment about how they should make FUD in the crypto market. They don't like decentralization so they have to fight it, but what are the benefits? Nothing, they will just do it and keep doing it and so on until the crypto community truly believes that China is the biggest liar in the crypto world.

Somehow I feel China is just going against the grain regarding the growth of crypto in the world. This was absolutely ridiculous, but it would make weak hands tremble.

AakZaki

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China has always done the same. FUD continues to be spread to influence the price of bitcoin so they can buy it cheaply. The current moment is indeed very fitting to spread FUD, but should we be influenced? Of course we are used to news from China. China is indeed the enemy of bitcoin at this time.

FlamingFingers

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Whenever I see a news update like this is one of the best time to either open a long position or buy the dip or probably a bottom of dip had occurred, this is just a pure Fud, only newbies and people who don't know about cryptocurrency will fall for this cheap stunt, bitcoin is here to stay and it will be forever, huge dump might occur but it will never get to zero, no way!

Silberman

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Quote from: Lubcub62 on June 22, 2022, 11:52:14 PM

every year have gotten used to hearing this kind of fud. But strangely, the more fud, the more famous bitcoins become. So don't take it too seriously. just make it an annual entertainment. because many have said that about bitcoin.

It is not really that strange, it is known that the more you try to forbid something the more people want to know why the government wants to suppress that information, China is against bitcoin and we know it, so it is natural they are using the drop in the price to their advantage, however giving so much attention to bitcoin and its supposed bad state can damage bitcoin but only for the short term, over the long term people will realize about such a campaign against bitcoin and will begin to search for information about why this is the case, increasing awareness and ironically bringing a more informed investor to the market, which is way more difficult to scare with FUD.

qwertyup23

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Quote from: FMCPAY_GLOBAL on June 22, 2022, 11:15:44 PM

<...snip...>

I mean, what do you expect from a country that controls and manipulates their media? As far as I know, China also banned and prohibited the utlization of cryptocurrencies in their country- so it is somehow expected that they will force their people to believe such lies.

Though this may be the case, I think this will hurt the price and growth of cryptocurrencies in general. Before, there were tons of Chinese miners but the prohibition had caused a massive reduction of the prices of cryptocurrencies. Hopefully, some countries would show their support towards the movement of BTC and cryptocurrencies in order to at least pacify this situation.

kryptqnick

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Like others here, I perceive it with a smile, 'cause Chinese propagandist warnings and concerns are a joke. China is naturally hostile to Bitcoin because it's an authoritarian regime that wants to get even more control over the lives of people than it already does, and controlling the currency is a part of it. Bitcoin isn't and never will be under the control of Chinese government, and it can be disruptive if people there put more trust into it than into yuan or if people specifically start using cryptos when they don't want the government to know about some funds or purchases. But claiming Bitcoin is heading to 0 is simply ridiculous.

KennyR

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Quote from: JoyMarsha on June 23, 2022, 12:21:11 PM

Right from day one, China has not been in support of bitcoin, they rated bitcoin as their 10th coin. As much, as they try to discredit bitcoin, it keeps excelling beyond their imagination. It pains them, that they have only control over it, If bitcoin was something that can be controlled by technology China would have been the first country to have maximum control over bitcoin long ago.
The financial freedom bitcoin brings, they don't want their citizens to gain or learn from it since they are not the ones that invented bitcoin, so because of that, they are not in full support of it

In the beginning China is one of the country that have helped with the growth of bitcoin. During those days it was China that contributed good with the mining. If there isn't big support during the initial days, the network couldn't have turned this big.

At some point China wanted it to have control over the network network, which isn't possible. Further it started to make ban over cryptocurrency mining. The process is now towards creation of CBDC. When China made the ban, miners started to move towards other countries and the network didn't got affected out of it. Slowly they try to create FUD making use of the market decline.

JoyMarsha

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Right from day one, China has not been in support of bitcoin, they rated bitcoin as their 10th coin. As much, as they try to discredit bitcoin, it keeps excelling beyond their imagination. It pains them, that they have only control over it, If bitcoin was something that can be controlled by technology China would have been the first country to have maximum control over bitcoin long ago.
The financial freedom bitcoin brings, they don't want their citizens to gain or learn from it since they are not the ones that invented bitcoin, so because of that, they are not in full support of it

fiulpro

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China warns people that they are going to ban bitcoins... China bans bitcoin mining..causes a massive brain drain....china allows bitcoins again....china not so sure...now china wants to launch a new digital asset governed by the government... China wants people to invest ..china making statements which are baseless.

They Chinese government just wants their own asset to have a loads of investments therefore what they are doing is trying to somehow prevent people from investing in cryptocurrencies like bitcoins at the end of the day all these comments are not only senseless but one should not give this FUD a platform to be discussed as well.

so98nn

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The Chi. . . who?
Who are they, I am hearing this word for the first time in my life until now. lol (sarcasm)

Thats really funny thing coming from Chinese news channel. They should look after their bread butter rather than poking into bitcoin all the time. First they ban everything from their country, then suddenly bitcoin goes up and then they get jealous about it! They literally thought bitcoin will vanish when they stopped mining operations within their country but opposite happened.

Now as the bitcoin is on the bearish line they are trying to create new sort of FUD. I am sure this warning is for their own peeps and not the other world. Because do whatever you like, I am definitely going to HODL until last coin.

Pesona1

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Quote from: traderethereum on June 23, 2022, 10:53:51 AM

If so, let it be and we will see what will happen with the crypto market.
Bitcoin has been tested many times with drastic price drops; this time, bitcoin is experiencing it again.
But I think people still believe that bitcoin will rise again after this.
It's only natural that China thinks like that to influence people's minds, especially people who have just joined bitcoin.
As long as we don't listen to stories like that, we'll be fine.

So far China is the biggest FUD spreader for bitcoin, even China is a country that is quite anti-bitcoin and they continue to do FUD to mentally bring down bitcoin investors, to be honest after seeing the development of bitcoin so far which continues to rise after the price drop , of course what china says It's not something we need to be afraid of, so I think we don't need to listen to what China has to say about bitcoin and it's better if we stick to what we believe in bitcoin.

Topic: China warns Bitcoin is heading to zero - page 5. (Read 1078 times)