Topic: Insights into China Crypto Regulation FUD (Read 168 times)
very interesting...i thought that something like this is heppening. Not sure about redpulse... There was redpuls mania during ICO period.. China ban and kucoin problems and bitcoin fork wounded all altcoins... When altcoins rise, and china market rise (that world know it) i think that redpulse will be "in" again... It would be pitty to kill it...
One more interesting thing, take as fud if you would like.
It seems that a lot of chinese crypto traders aren't too excited about Red Pulse.
Well, this one obviously was his own personal opinion and I think he generalized it to make it sound bigger than it is.
But take it how you would like.
It seems that a lot of chinese crypto traders aren't too excited about Red Pulse.
Well, this one obviously was his own personal opinion and I think he generalized it to make it sound bigger than it is.
But take it how you would like.
Thanks for sharing, China is indeed an intriguing market.
This one is a longer more detailed read, please bear with me.
I just finished a really enlightening conversation with a colleague of mine in China who is part of a couple vast networks of miners, crypto enthusiasts, and investors. It really changed the way I think about what's going on over there vs. how we perceive things to be.
Disclaimer: it was just a one on one conversation. Although he knows a lot involved in crypto it really is the opinion of one guy. As with all advice on bitcointalk, take it with a grain of salt, then research it yourself.
- Overwhelmingly, Chinese investors are frustrated with those outside China reacting to Chinese regulations. Most of the FUD, panic selling, and swaying of markets is caused by those taking news out of context or making huge assumptions with very little information. Most Chinese crypto investors have incredibly simple and practical ways to circumvent any regulation. Something as simple as a VPN as well as complicated things like networks of communities run through hong kong, macau, or taiwan to enable trading and ico production. The banning of ICO and exchanges did nothing to slow down actual Chinese traders and miners.
- Most Chinese see the regulations as an old tactic for certain members in the communist party to monopolize the industry. For example, kicking out youtube from china due to "censorship" was conveniently timed with the chinese version, Youku, gaining steam (youku has several top politicians heavily invested in it). Kick out google, enter baidu. Kick out twitter, enter wechat etc. etc. What this means is that in the near future, there will be one dominant chinese exchange platform popping up along with Chinese ICOs becoming plentiful again, albeit through a centralized controlled system.
- The Chinese are absolutely fanatic about crypto, especially the 18 - 30 year old crowd. Not only as huge profit making ventures but as a huge paradigm shift in Chinese society. It's almost become a tool of social change for them as those leading the Chinese world are young, educated, middle class, and perfectly aware of the problems in their own country.
- The last interesting thing he mentioned is the sheer scale of China: 1.4 billion people, fastest growing economy in the past 10 years (although it's slowed down lately), mining farms the size of small towns, unprecedented advances in Chinese tech companies, etc. The potential of Chinese crypto investment is just barely beginning.
Thoughts: At times it seemed like he was giving an advertisement of sorts, and he is obviously incredibly optimistic. What I thought most interesting is the ingenuity and flexibility of Chinese to work around regulations that we, in the west, perceive as immutable. It shows that even though China is the #1 crypto country in the world, the outside can still heavily sway markets. It's like if I was sick, and I know that it's just a cold and that I will be fine soon, but my mother freaks out and forces me to go the hospital when I know it's not a big deal and all I want to do is move on with my daily life. Another thing I took from it is that it is obvious that the future of crypto in china is bright (whether that is social change is entirely up to you), which means that any temporary "setbacks" are exactly that: temporary.
I just finished a really enlightening conversation with a colleague of mine in China who is part of a couple vast networks of miners, crypto enthusiasts, and investors. It really changed the way I think about what's going on over there vs. how we perceive things to be.
Disclaimer: it was just a one on one conversation. Although he knows a lot involved in crypto it really is the opinion of one guy. As with all advice on bitcointalk, take it with a grain of salt, then research it yourself.
- Overwhelmingly, Chinese investors are frustrated with those outside China reacting to Chinese regulations. Most of the FUD, panic selling, and swaying of markets is caused by those taking news out of context or making huge assumptions with very little information. Most Chinese crypto investors have incredibly simple and practical ways to circumvent any regulation. Something as simple as a VPN as well as complicated things like networks of communities run through hong kong, macau, or taiwan to enable trading and ico production. The banning of ICO and exchanges did nothing to slow down actual Chinese traders and miners.
- Most Chinese see the regulations as an old tactic for certain members in the communist party to monopolize the industry. For example, kicking out youtube from china due to "censorship" was conveniently timed with the chinese version, Youku, gaining steam (youku has several top politicians heavily invested in it). Kick out google, enter baidu. Kick out twitter, enter wechat etc. etc. What this means is that in the near future, there will be one dominant chinese exchange platform popping up along with Chinese ICOs becoming plentiful again, albeit through a centralized controlled system.
- The Chinese are absolutely fanatic about crypto, especially the 18 - 30 year old crowd. Not only as huge profit making ventures but as a huge paradigm shift in Chinese society. It's almost become a tool of social change for them as those leading the Chinese world are young, educated, middle class, and perfectly aware of the problems in their own country.
- The last interesting thing he mentioned is the sheer scale of China: 1.4 billion people, fastest growing economy in the past 10 years (although it's slowed down lately), mining farms the size of small towns, unprecedented advances in Chinese tech companies, etc. The potential of Chinese crypto investment is just barely beginning.
Thoughts: At times it seemed like he was giving an advertisement of sorts, and he is obviously incredibly optimistic. What I thought most interesting is the ingenuity and flexibility of Chinese to work around regulations that we, in the west, perceive as immutable. It shows that even though China is the #1 crypto country in the world, the outside can still heavily sway markets. It's like if I was sick, and I know that it's just a cold and that I will be fine soon, but my mother freaks out and forces me to go the hospital when I know it's not a big deal and all I want to do is move on with my daily life. Another thing I took from it is that it is obvious that the future of crypto in china is bright (whether that is social change is entirely up to you), which means that any temporary "setbacks" are exactly that: temporary.
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