Topic: Disturbing - page 2. (Read 702 times)

China has always been the ingredient to be the most frightening FUD news site, but does everyone here think that this often happens before and doesn't have a positive or even negative effect, many news sites do that because they see a trend when they go up they make positive news when they reach the downward trend they make negative and manipulating news, but I am a lazy person who reads news about any bitcoin out there, just focusing on analyzing charts and any news that comes from China is totally unobtrusive, in my opinion the best thing to invest in bitcoin is the long term

yes you are right op all the policies adopted by the Chinese government regarding cryptocurrency always have an impact on the crypto market. because we know that the biggest crypto traders and miners are from China. and China is also included in a strong country whose decisions can affect the world economy. yesterday when China and the United States conducted a trade war the state of the world economy became weak and caused several countries to experience a recession.

Indeed, it happened before when  there's news from china both good and bad there's following effects to the market. Speculators mostly followed
how the market moves then holders who doesn't have any knowledge about market movements never hesitate to quickly jumped into conclusions.
With this volatile conditions inside the market, every news impacted to the whole industry, investors keeps finding reasons to follow up their assessment and decisions.

How can you say China is controlling the price when they don't show interest to use Bitcoin in the first place?
If you think the price surged just because of the news from the Chinese leader showing interest in blockchain, then think again.
There must be something else that influence the sentiments in the market rather than just the Chinese news alone.

It already happened so many times and almost like China control bitcoin price. If you see some event in past, maybe Chinese Market usually be lead of another exchanges. I mean athough now the news that comes from China about cryptocurrency or maybe blockchain not really affect to the price, but sometimes people still believe it is very influential because of several events in the past.

Maybe planning to gave a centralized exchange where crypto users only deal with the government crypto exchange and it looks like they are moving on it right now. Chinese people should be aware on this and save their bitcoin or any altcoins before its too late, people are panicking again and the recent scam on Korean crypto exchange add the new spiced on this dump, a timely incident and a suspicious one.

Right now, bitcoin back to $7512 and I am happy to see the price can increase after it's down deeper. I see that the price changes too fast at the market and I hope that it could start to rise to a higher price. You can sell your bitcoin now if you buy bitcoin at $7000 and taking $500 is a nice profit. But you can hold for more to sell for another higher price but be careful, we still at the unpredicted of bitcoin price so you need to know what you should do.

Yeah we don't have any power bdw. What we can do if Big whale are taking control over the sea? 
The small fish only watch and follow the game which is made by whale. And China have a great power to do that. Then what will gonna happen with their local exchange like binance, etc?

Ok, I'll throw in the towel, China has 0.001% real effect on the market, the rest is people claiming that China is huge and it matters.
And it's not as important as Nepal but as...Bhutan?


Nope, it means actually watching what happens and how things evolve for six f years.
For six f years, all I've heard is that China is China will do, China is ....and look, 6 years later apart from the obvious fake volume there is nothing coming from China regarding bitcoin!
Nothing!

Look at how many shops are in the western world, look at how many companies are involved, how many people are talking and buying and using it. Yet the only Chinese you hear are involved with bitcoin are the ones fleeing the country  

No, it's not a western-centric point of view, me actually being on the border of eastern Europe, but reality!
For years I've heard stories about the huge growth in Venezuela, Nigeria, Zimbabwe, South Africa..it was all a lie, just like China is.
And the main culprit for this is indeed a biased view, people who hate the US and are trying to deny that the core of usage and ownership and everything regarding bitcoin (apart from mining equipment manufacturing) is based there. The same hate and denial caused by the fact that the US is seen as an emblem of fiat money is making people not see the reality of the BTC markets.

You can lie to yourself how much you want, China's importance in bitcoin is going to zero, and nothing is going to change this.
 

how does that prove that ATMs have a significant effect on the market? show us the numbers.

the existence of ATMs in europe or the USA doesn't change the fact that they never mattered in china.



you did say "there are no more exchanges there". actually there were hundreds before the government shut them down a few days ago. and comparing china to nepal is just ridiculous. i dunno if you just have an incredibly western-centric worldview or what, but that's just insane.


pffff, give me a break. at that time, okcoin was doing the same volume as bitstamp. in 2016, they were doing 10 million BTC volume per day. there is no comparison.

one article citing one source who looked at one 2-hour period is also not a basis to suggest (as you are) that all chinese volume in 2013 was fake. some of the top "western" exchanges like bitfinex and binance have been accused of faking volume too, but that's not a basis to say they have no effect on the market.

anecdotally, i knew dozens of traders in late 2013. nobody even followed gox anymore because we all knew china ran the market. all the moves triggered there (and later on the chinese futures market). by 2015-16 most of us were trading on huobi and okcoin because of the superior liquidity. sure we all joked about the "chopper" and the "volumizer" but at the end of the day, slippage at bitstamp fucked you 10x worse than okcoin. there was undoubtedly lots of real liquidity, more so than any western exchanges.


you're the one claiming china has zero effect on the market. the burden is on you......


that's not an actual argument......

are you suggesting that >4 billion USDT hasn't been issued? that it hasn't grown by 4000% in the last 1.5 years, during a time when chinese traders left mainland exchanges en masse? that 99% of spot trades in china are not using tether?

what exactly are you rolling your eyes at?

the circulating supply says nothing about their dollar reserves. i'm not commenting on that. but it does corroborate chainalysis' report that USDT has completely replaced the yuan for chinese speculators---which you are conveniently ignoring.


i think we've established that the volume numbers were completely inflated by early 2017. (but again, that does nothing to prove your claim that china has zero effect on the market.....)

this is also just localbitcoins, a western site. it offers a glimpse of the p2p market in china. i've been told that wechat and alipay are much more common venues for p2p trading in china but we have no data for that.

I've never seen anyone buying a diamond, thus there are no people buying diamonds.
Then can you explain why the hell do we have 6000 atms? It's businesses wasting money?

The guys from shitcoinclub have a list of their atms and the funds available, I was amazed to see those numbers going down day by day on the order of thousands of euros, and we're talking about eastern Europe here....


Where have I said that bitcoin disappeared from China?
Don't go that way, don't put words in my mouth, I like strawberries:P


If you would know your history you would know that the fake volume war started in 2013:
Chinese Bitcoin Exchange OKCoin Accused of Faking Trading Data
Dec 21, 2013 at 20:10 UTC



Right back at ya!

Seriously?



So, from 25k bitcoin an hour, the amount huobi was claiming to have on the day before.....the response was 1000 Btc a day!
It sounds pretty realistic to me.

Common lines to be spoken off by the community neither both ways.When theres a pump then there would be always a reason and same goes for drop where people do keep pointing on fingers nothing new!

what is this evidence of? i've never seen anyone using a bitcoin ATM. and hardly anyone spends bitcoins at merchants, especially brick-and-mortar merchants. bitcoin is clearly a speculative asset first and foremost. i know chinese traders and they don't give a fuck about bitcoin ATMs lol.

btw, the chinese government just closed down 173 of crypto exchanges/platforms. so you can give up this charade that bitcoin completely disappeared from china when the government banned exchanges in 2017. https://beincrypto.com/china-shuts-down-173-cryptocurrency-exchanges-and-token-issuing-platforms/


if you actually knew your history, you'd know the fake volume wars began in 2015. look at any okcoin chart; its clear as day. yet china was the primary driver of the late 2013 bubble. any old school traders here will attest to that.

nothing you're saying proves that chinese speculation isn't a huge part of the market. the addition of fake volume activity since 2015 obfuscates the true data; it doesn't magically erase china from the earth.


no. i'm trusting chainalysis' report that 99% of chinese spot trading is done with tether, and i'm trusting tether's blockchain issuance.

coinmarketcap's numbers are also inflating bitcoin volumes, not just tether. the point is that tether's massive inflation and trading volumes appear to be directly linked with china's prohibition of centralized CNY exchanges.


yes, from 200 BTC/week.

you're glossing over the fact that nobody traded p2p prior to the withdrawal freeze in early 2017. everybody used exchanges like okcoin because you could do instant e-wallet transfers in and out.

the week before okcoin, btcc, and huobi froze withdrawals, there was 218 BTC in localbitcoins volume. a few weeks later, there was 7300 BTC in localbitcoins volume. more than a 3200% increase, and obviously a direct response to the situation at centralized chinese exchanges.

the gradually declining localbitcoins volume to date coincides with the massive ballooning of tether's market cap from $100 million to over $4 billion. we now know that chinese speculators are a huge part of that. chainalysis says so, and so does the fact that tether is pushing even further into the chinese market by issuing a CNH stablecoin.

Ol' Big Whales!
After a fast bullrun, a drop will surely happens so people can make some profit (2 much 4 big whales), meanwhile other people are discussing why it is up or down, blamin' chinese, russian...

Because there are zero atms, zero business there, you can have a wallet full of bitcoins in the capital but you will have to eat leftover at McDonald's because there is no damn business accepting your coins.
Because from the first moment we had Chinese exchanges they were inflating their numbers by 1000x, because everything coming from there was fake information, fake numbers, fake everything.



Again, you're trusting numbers coming from okcoin&co...seriosuly?
https://coinmarketcap.com/rankings/exchanges/liquidity/


Baloooned to....4000 btc /week?
Or less than Russia was doing on a daily base?
Only to drop after below the UK?
Not impressed!  


Agree with the first part, adding a bit to the last to agree.
It is still one huge FAKE part!  

why do you think that?

the exchange ban just sent chinese exchanges and traders offshore. yuan-denominated trading may be way down since then, but that's all. according to chainalysis, tether is used in 99% of bitcoin spot trades in china.

this year, tether surpassed bitcoin in trading volumes: https://www.bloomberg.com/news/articles/2019-10-01/tether-not-bitcoin-likely-the-world-s-most-used-cryptocurrency

and research now shows that china is responsible for the majority of global tether volumes: https://cointelegraph.com/news/research-china-leads-world-in-tether-trading-volumes-in-2019

we can also see the size of the p2p market ballooned after the major chinese exchanges froze withdrawals in early 2017, suggesting the market is much bigger than centralized exchanges: https://coin.dance/volume/localbitcoins/CNY


they never banned bitcoin usage, p2p trading, bitcoin mining, mining manufacturing. all they banned was domestic ICOs and centralized exchanges. the ICO market is dead anyway and the exchanges all moved offshore.

nothing fundamentally changed---china is still a huge part of the bitcoin market.

Just try to swim with the whales when you're a small fish.

There will still be plenty of Chinese folks who hold a lot of coinage and of course miners will be having plenty of new ones arriving as well.

Even though the whole scene is supposedly nullified there there's got to be some seepage into other markets. The big players won't walk away that easily.

A sudden change on becoming the apple of the eye.
They have done too much ruckus in the crypto space and that is why analysts out there are always looking at their move.
The bad thing though is there is no fact that could back up if they are the reason behind all this pumps and dumps that is happening with bitcoin.

They are just speculating and it could be anything.
Some whale maybe using this opportunity to manipulate the market.

No, you can't know something that doesn't exist!
China has as much influence in crypto right now as Nepal.

What is has, it has a bunch of panicking morons who at every piece of garbage half-line coming of China are screaming like some mad geese and simply won't shut up no matter how many arguments are hammered on their heads.
China means zero, there are no more exchanges there, there are no shops, no ATMs, no real usage, there is only mining and that also slowly dings down. So, for god's sake stop this madness.

And furthermore, how can you even claim they have a big influence when they've already banned it?
Use logic, it's like some hardcore vegans stopped buying honey-baked ribs and now the entire pig industry is in bankruptcy!