Of course this is a trick that is being played by China, to keep prices relatively stable
and if they also have a role in the fall in the value of bitcoin even though they don't fully play, they are not as stupid as we think, because this is a very common thing to happen in a business world, especially China, which has the most population in the world, they can also do this. whatever they want
Topic: Is China a fool? (Read 414 times)
China is putting herself at a disadvantage by forcing the crypto industry out to other places, but only time will show this.
https://blog.bitmain.com/en/global-suspension-announcement-of-antminer-spot-sales/
"Global Suspension Announcement of Antminer Spot Sales
JUNE 25, 2021
Dear Valued Antminer Users，
In recent times, Chinese customers have been reselling miners to withdraw funds or reduce the time that their mining hardware remains in China. However, the setup of mining farms does not happen overnight, and the second-hand market is under pressure. To assist the industry towards a smooth transition, Antminer has temporarily decided to suspend global spot sales.
Kindly note that customers who have already placed previous orders will not be affected. Bitmain will continue to sell futures orders from September onwards. The suspension of spot sales shall be from June to August."
Large enterprise stops selling, workers will receive lower wages due to downtime
"Global Suspension Announcement of Antminer Spot Sales
JUNE 25, 2021
Dear Valued Antminer Users，
In recent times, Chinese customers have been reselling miners to withdraw funds or reduce the time that their mining hardware remains in China. However, the setup of mining farms does not happen overnight, and the second-hand market is under pressure. To assist the industry towards a smooth transition, Antminer has temporarily decided to suspend global spot sales.
Kindly note that customers who have already placed previous orders will not be affected. Bitmain will continue to sell futures orders from September onwards. The suspension of spot sales shall be from June to August."
Large enterprise stops selling, workers will receive lower wages due to downtime
Instead, what China does is a strategy so that the country is considered a country that plays an important role when regulatory decisions are issued, other countries will talk about China everywhere, in the mainstream media, on television, in articles, journals, and others. all the media that China has wanted.
Doesn't China feel benefited, while on the other hand, the role of the US is increasingly isolated even though all countries are talking about where China is, do they ignore the role of the US in this matter? Nothing
Instead it shows that the US is weakening, and China has shown it without needing to tell the US.
Doesn't China feel benefited, while on the other hand, the role of the US is increasingly isolated even though all countries are talking about where China is, do they ignore the role of the US in this matter? Nothing
Instead it shows that the US is weakening, and China has shown it without needing to tell the US.
China wants to take advantage, China doesn't want to lose, the tactics used by China are the brains of the business, China does everything they can to get what they want, I think China Only shuts down mining that is not controlled by the government, because we all know China is a country. who do whatever it takes to get what they want,
Bitcoin is having a hard time recently due to China's regulation. I wonder what China can gain in cracking down bitcoin trade and mining? Does't the government figure out that cryptocurrency is lucrative and alomst unstoppable? Banning mining is really an insane act as I see it, they are actually expelling money and power!!!
what do you think? leave you comment, thx
Even though china is against bitcoin it will not affect bitcoin till infinity, it can only take a little space for bitcoin recover, for then to ban mining farm that does not mean that bitcoin will be down till infinity as i said before and it's not only china that have mining farm, other farms are ease were, china for them to fight cryptocurrency that shows it's time to bring than their economy, before base on my knowledge any country that adopt cryptocurrencies alway make well through their economy. what do you think? leave you comment, thx
Perhaps they are planning something other than completely banning BTC in their country, like issuing a digital currency, or they can collect a large amount of BTC when its price drops low. .
Bitcoin is having a hard time recently due to China's regulation. I wonder what China can gain in cracking down bitcoin trade and mining? Does't the government figure out that cryptocurrency is lucrative and alomst unstoppable? Banning mining is really an insane act as I see it, they are actually expelling money and power!!!
what do you think? leave you comment, thx
It looks to me that if a powerful country like China is trying to remove something so fundamental to the new industry revolution that later it will feel sorry for doing so. what do you think? leave you comment, thx
Yes, true, today China is where most of the miners are so having a anti-mining government who doesn't stop at nothing less than cracking down the market then that leaves more opportunity for the rest of the countries, providing them with an advantage they will take. So if not China, another country will adopt the mining power and the crypto isn't going to stop. It will be one lost opportunity for China.
China is not stupid china is far ahead in terms of bitcoin mining the use of bitcoin as a digital currency is high in their country. China is far ahead of other countries and occupies one of the top positions in terms of sales and popularity of products made in china in the world market the process of negotiating with china is not complicated and every trader with basic knowledge and entrepreneurial experience can work successfully in this market without initial investment or with little investment. The best option to start a trade career is to have partnerships with companies that will help russia deliver affordable and in demand products.
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You are right. I mean, they came a long way and look at their developments, they're behind the US compared to other countries.
One thing for sure, their spending power is tremendous too. That's how they gain influence over other countries by pouring in development funds.
many give opinions without clear sources, I know china is a country that is very observant of financial problems they are only looking for profit and don't know losses so I think china is not a stupid country they have their own reasons why ban bitcoin miners in their country if bitcoin miners are profitable China, of course, the Chinese state will not ban it, but currently China is banning bitcoin miners, meaning that there is a possibility that the Chinese government will be wary of these bitcoin miners.
All news portals write that China is fighting bitcoin because bitcoin is preventing China from launching its own CBDC.
Thinking hard, how can Bitcoin harm China's CBDC?
I think this is one of the more complex game combinations that we don't know about yet.
Because then it would be wise to start shutting down companies that make mining equipment.
Thinking hard, how can Bitcoin harm China's CBDC?
I think this is one of the more complex game combinations that we don't know about yet.
Because then it would be wise to start shutting down companies that make mining equipment.
i guess a lot of bitcoin abuse from china, like the exchange that once existed in 2018 he is idax. came from China, but was hit by a criminal case. That has kept the chinese government from limiting the circulation and business of bitcoin.
Does't the government figure out that cryptocurrency is lucrative and alomst unstoppable? Banning mining is really an insane act as I see it, they are actually expelling money and power!!!
And why does everyone taking for granted the fact that is also lucrative for the government?
Has anyone to date seen a single tax filing of a mining farm in China?
Does anyone know how much they have paid in taxes or how many people they employ and what wages they pay?
What if at the end of the day it turns out that most pay zero taxes as they "forget" to declare income, they hire little to no people, and on the other hand they draw subsides power from the grid that China has no interest in producing anymore, like all that coal power they want to replace with nuclear reactors and solar energy?
People are always saying if governments ban crypto they lose money, but let's be honest, excluding the western world, who is paying taxes on crypto gains? 1-5%?
China can just order the mining rig manufacturers such as Bitmain and Canaan to close down their operations and cease the export of mining hardware. And that will destroy the mining sector in the long run, because it is not viable for these companies to move their operations abroad.
All the chips are made by TSCM and Samsung, the technology is not lost if China bans it, the gear can be manufactured somewhere else, Vietnam, India, Thailand, short-run there might be a problem with acquiring gear but long term no! With the mining profits going up someone will start manufacturing those tempted by $.
They want to eliminate competition for their own digital currency which is set to be used in public this year or in the next year, and that's not how a fool moves, it's actually the opposite.
correct, and they don't want crypto currency mining because they want to make their own way to gain more money than bitcoin, simple as that. Actually some say it's because china has a low power when it comes electricity that's why they ban bitcoin, but i don't believe in such reason because it's totally nonsense, and in fact there's a bunch of country that still mining even they're all had the same situation with china,
maybe the fact that they are not really convinced with it comes the benefits of bitcoin that's why they decided to make their own way to fulfil their needs and preferred to ban it. Perhaps that's the real story..
Bitcoin is having a hard time recently due to China's regulation. I wonder what China can gain in cracking down bitcoin trade and mining? Does't the government figure out that cryptocurrency is lucrative and alomst unstoppable? Banning mining is really an insane act as I see it, they are actually expelling money and power!!!
what do you think? leave you comment, thx
They can do whatever they want since they are a communist country however, do you think they can let the free money gone on their side. Im thinking that this us a hard shell game and they are making it real to create fud. Once it goes down to the bottom then they will reclaim back the decision. Just an opinion. Therr is also a rumor that they want to let their country their own digital cryptocurrency. Well soem Chinese definitely sticking to bitcoin, natural and totally decentralized and not manipulative. what do you think? leave you comment, thx
I heard that China seems to be launching its own country’s digital renminbi. Perhaps this explains why China has issued various policies to prohibit bitcoin transactions and mining. They are the people who control their own country and want to replace bitcoin with digital renminbi. This is impossible, but they did it, but the trend of Bitcoin is unstoppable, and this approach is doomed to fail.
China is not stupid as we think. Of course they are playing a trick right now. By banning bitcoin in their country. Their price can dominate world economic trade. So they need to play some tricks to run their business.One of them by banning bitcoin trading in their own country. in this way slowly but surely they can easily master bitcoin not only in their country but even in the world
They want to eliminate competition for their own digital currency which is set to be used in public this year or in the next year, and that's not how a fool moves, it's actually the opposite.
and here lies the difference being tested, in fact they are one step ahead of us and they are trying to eliminate bitcoin in order to reap greater profits. and this is definitely the case with fud like that and judging by the current prices I think they are quite successful in doing it although I'm not worried at all about it because I'm sure bitcoin will return to normal even more than your imagine 
regardless of whether they are stupid or not, actually China has their own plans but we don't know what China will do after banning bitcoin mining in their country, especially if we see and read the information that has been circulating, basically one of their goals is that they want to eliminate competition for digital currency that they created themselves and one of the factors or the biggest rival of digital currency is none other than bitcoin because this is one of the big scourges for the coins they create.
I don't think this can be called stupid but their actions are quite brave
I don't think this can be called stupid but their actions are quite brave
Bitcoin is having a hard time recently due to China's regulation. I wonder what China can gain in cracking down bitcoin trade and mining? Does't the government figure out that cryptocurrency is lucrative and alomst unstoppable? Banning mining is really an insane act as I see it, they are actually expelling money and power!!!
what do you think? leave you comment, thx
what do you think? leave you comment, thx
i see some legit news on twitter . china government start investigating mining company more and arrest their assets if they are not stopped using high resource power for their own benefit . and government thought they printing money from it .
it is difficult to predict what the Chinese government will do, maybe this is the beginning of the price fall of bitcoin. We hope this is only a temporary thing, maybe with the ban by the Chinese government this is a strategy that inflates bitcoin prices as usual time, as happened in the past few years.And we can only hope that this will actually happen
Bitcoin is having a hard time recently due to China's regulation. I wonder what China can gain in cracking down bitcoin trade and mining? Does't the government figure out that cryptocurrency is lucrative and alomst unstoppable? Banning mining is really an insane act as I see it, they are actually expelling money and power!!!
what do you think? leave you comment, thx
what do you think? leave you comment, thx
The mining sector is still heavily dependent on China. Mining farms may be able to relocate to countries such as Kazakhstan, Russia or Mongolia. But what about the mining rig manufacturers? China is having almost 100% monopoly in this sector. China can just order the mining rig manufacturers such as Bitmain and Canaan to close down their operations and cease the export of mining hardware. And that will destroy the mining sector in the long run, because it is not viable for these companies to move their operations abroad.
For me, China is always a fool, they only think about themselves and their mindset is only about their own growth even if it harms other people.
China's dream is to make their one and only cryptocurrency that only revolves around their country and they want it to become popular.
Maybe that's one of the reason why they ban bitcoin in their country, but we can't blame them, they are really a communist country.
China's dream is to make their one and only cryptocurrency that only revolves around their country and they want it to become popular.
Maybe that's one of the reason why they ban bitcoin in their country, but we can't blame them, they are really a communist country.
They are proving one thing, They have the right to make the price of BTC go up and down according to their intentions, The continuous creation of FUDs and suppression of mining projects from China shows that they are The obvious intention is to get rid of the BTC mining process in China?
China is betting on the digital Yuan and does not want to have competition with bitcoin.
Chinese bitcoin miners will have to leave the country and install their mining centers in other countries. One of the possible places that has been heard a lot is Texas.
Chinese bitcoin miners will have to leave the country and install their mining centers in other countries. One of the possible places that has been heard a lot is Texas.
Quote
With China's crackdown on the crypto mining industry, companies are looking to migrate elsewhere. Along with Kazakhstan, BIT Mining has also invested $ 25 million in a new mining center in Texas.
https://www.coindesk.com/chinese-bitcoin-mining-company-delivers-first-machines-to-kazakhstan
https://www.coindesk.com/chinese-bitcoin-mining-company-delivers-first-machines-to-kazakhstan
I guess China government is a fool because that can be one of their strategies to make panic for the crypto people to use it for their benefits. When China releases something, they will have more things that we don't know what their real reason for that thing is. I guess China wants to play with the market and will still do that in the future. I doubt they really close the bitcoin mining as what they say because we don't know if that is really happening or not.
China can play with the crypto market, but it will not do that forever. We need to believe that bitcoin will be strong after the bad news. Just hold your bitcoin, buy back if you think that is the good price to buy, and then hold it for some time.
China can play with the crypto market, but it will not do that forever. We need to believe that bitcoin will be strong after the bad news. Just hold your bitcoin, buy back if you think that is the good price to buy, and then hold it for some time.
what do you think? leave you comment, thx
China is not stupid, the Chinese are smarter and cunning, they are bestowed with a genius brain, because their genius, intelligence and cunning make them greedy in trade / Economics, they will do anything for money and their business runs perfectly.In the current state that it seems they aim to make all kinds of ways for Bitcoin users/miners etc., they have a mission that we don't know about in the future, this kind of thing happened a few years ago, because they can't control Bitcoin, they have other ways to suppress their citizens who are involved in Bitcoin like the news today.
Under these circumstances, I don't think Bitcoin will crash, On the contrary it will, if you carefully assess China's behavior, there is an element of shrimp behind the rock.
They to war, without using nuclear weapons, they fight with the economy / money, every mission they always take victims from the community coldly, without injury but the enemy is made to boil brain without moving.
I don't think that China will have that balls if they don't have a nuclear power or the military might that they are arrogantly showing off to the world.
You are right. I mean, they came a long way and look at their developments, they're behind the US compared to other countries.
One thing for sure, their spending power is tremendous too. That's how they gain influence over other countries by pouring in development funds.
Imagine a CEO (Melon Musk) could shake the prices single-handedly, China be like, "hold my tea" 
I don't think that China will have that balls if they don't have a nuclear power or the military might that they are arrogantly showing off to the world. 
As a government am sure they want to look like they are in charge and will only tolerate crypto coins under their control.
We all know how China loves control, and knowing they can't have bitcoin under their wing they are targeting miners...which is all a temporary phase FYI. No need to panic we shall get over this or take the crypto mining business elsewhere and forget about China.
We all know how China loves control, and knowing they can't have bitcoin under their wing they are targeting miners...which is all a temporary phase FYI. No need to panic we shall get over this or take the crypto mining business elsewhere and forget about China.
That could be another way of looking at the move that China does on the bitcoin scene and so far, they are doing great in terms of shaking off the weak hands.
Imagine a CEO (Melon Musk) could shake the prices single-handedly, China be like, "hold my tea"
If there is one thing we know about China,,, it is that it is not a fool. They have been content being a silent superpower for such a long time. Choosing not to go to war but to dominate the world through economy. Which they still have not fully unleashed by the way. In other parts of Asia and Africa and even South America they have dug their nails in.
This is all digital yuan coming,,, they know what they are doing.
This is all digital yuan coming,,, they know what they are doing.
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China is a world-class player, they are free to make decisions and in the end they will still gain the most. This is indeed quite unfair, for people who are affected by all of China's regulations. Many people are harmed by declining assets in large quantities.
We must be able to respond to every decision made by China.
We must be able to respond to every decision made by China.
~
Exactly my thoughts. They help to shake off the weak hands while the smart ones dive in to scoop.
Bitcoin is having a hard time recently due to China's regulation. I wonder what China can gain in cracking down bitcoin trade and mining? Does't the government figure out that cryptocurrency is lucrative and alomst unstoppable? Banning mining is really an insane act as I see it, they are actually expelling money and power!!!
what do you think? leave you comment, thx
They are not planning to eliminating the whole crypto market but instead it is only bitcoin that they are targeting because this coin is the biggest competitor of their Own cryptocurrency .what do you think? leave you comment, thx
in short they want to get Bitcoin out so their people will have no choice but to use their coin or at least altcoins.
The established Bitcoin will be a threat to what they are planning so eliminating this will make all happy in chinese government.
But what about their people? would they be happy truly or just because they have no option but to follow as communist party?
Bitcoin is having a hard time recently due to China's regulation. I wonder what China can gain in cracking down bitcoin trade and mining? Does't the government figure out that cryptocurrency is lucrative and alomst unstoppable? Banning mining is really an insane act as I see it, they are actually expelling money and power!!!
what do you think? leave you comment, thx
what do you think? leave you comment, thx
Stop spreading FUD.
The Bitcoin price is stable.Bitcoin isn't having a "hard time recently".Can you mention a news source,stating that Bitcoin is having a "hard time" in China or that China had banned BTC mining recently?
China might ban Bitcoin/crypto mining,but this will happen in the future.
Banning crypto mining might cause problems for the mining hardware companies like Bitmain,but the Chinese government doesn't care that much about one company.The people,who lose their jobs,due to a mining ban,will find new jobs somewhere else.
They want to eliminate competition for their own digital currency which is set to be used in public this year or in the next year, and that's not how a fool moves, it's actually the opposite.
Exactly my thoughts. They help to shake off the weak hands while the smart ones dive in to scoop.
Bitcoin is having a hard time recently due to China's regulation. I wonder what China can gain in cracking down bitcoin trade and mining? Does't the government figure out that cryptocurrency is lucrative and alomst unstoppable? Banning mining is really an insane act as I see it, they are actually expelling money and power!!!
what do you think? leave you comment, thx
what do you think? leave you comment, thx
Stop spreading FUD.
The Bitcoin price is stable.Bitcoin isn't having a "hard time recently".Can you mention a news source,stating that Bitcoin is having a "hard time" in China or that China had banned BTC mining recently?
China might ban Bitcoin/crypto mining,but this will happen in the future.
Banning crypto mining might cause problems for the mining hardware companies like Bitmain,but the Chinese government doesn't care that much about one company.The people,who lose their jobs,due to a mining ban,will find new jobs somewhere else.
Banning mining is really an insane act as I see it, they are actually expelling money and power!!!
It's hard to know what are their actual plans.
Clean energy was never too high in their priority list. Bitcoin is an easy gateway towards western money they love so much.
My feeling is that they simply play a pump and dump game; it's not the first time they do that. From time to time they make the price fall hard, and in the rest, the price will rise naturally. Between the two, they can earn shitloads of money.
But never forget that it's not (only) China spreading at full power all these news and/or FUD related to China. Many westerners understood this game and play it for their own gains too.
On the long term, all this makes Bitcoin less and less tied to China. This helps both as decentralization and as opposed to the "bitcoin is owned by commies" narrative.
Bitcoin is having a hard time recently due to China's regulation. I wonder what China can gain in cracking down bitcoin trade and mining? Does't the government figure out that cryptocurrency is lucrative and alomst unstoppable? Banning mining is really an insane act as I see it, they are actually expelling money and power!!!
what do you think? leave you comment, thx
what do you think? leave you comment, thx
Bitcoin Miners were drawing more power than China's Energy Infrastructure could deliver.
China either banned the miners or let their power grid be destroyed, so naturally they banned the miners.
Letting the bitcoin miners destroy their power grids, now that would have been insane,
keep an eye on Texas, as miners have been moving there and their warnings of rolling blackouts have already begun.
Bitcoin miners energy drain can grow at 80% in 1 year , that is like adding a whole new country drawing power,
no state or country will be able to provide that for long, expect Texas to start banning mining in less than 3 years.
Once Texas fails to satisfy the ever growing drain for Proof of Waste, no other country or state will bother.
FYI:
Many have been warning of the PoW energy waste issue since 2013,
the only fools are the bitcoiners that refuse to believe it.
Yep they are fools. But you can think a lot of consoiracy theory for it but just simply believe they only want their CBDC to work for the Chinese.
China had been accused for using BTC earlier this year, if this is their reponse to it then they are proving they have nothing to do with it. But this is good for Bitcoin.
China had been accused for using BTC earlier this year, if this is their reponse to it then they are proving they have nothing to do with it. But this is good for Bitcoin.
They want to eliminate competition for their own digital currency which is set to be used in public this year or in the next year, and that's not how a fool moves, it's actually the opposite.
Bitcoin is having a hard time recently due to China's regulation. I wonder what China can gain in cracking down bitcoin trade and mining? Does't the government figure out that cryptocurrency is lucrative and alomst unstoppable? Banning mining is really an insane act as I see it, they are actually expelling money and power!!!
what do you think? leave you comment, thx
what do you think? leave you comment, thx
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