Is the FUD starting to wear off? - page 3.

mk4

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Quote from: bbc.reporter on June 01, 2021, 12:08:05 AM

@mk4. Agreed. However, if you do the research and check some of the news media’s sources, you would see that there is some basis for the news. But what the news media is also doing is add some exaggeration and sometimes misreport the news to make it appear more than what the news really was to clickbait the readers.

Read the article from Okex. That is the real news. There will be policy changes in China but it is not targetted towards bitcoin.

FUD doesn't necessarily mean that there isn't any basis or that the news isn't factual; it's just mostly unnecessarily overblown, exaggerated(as you said), and a lot of times even straight-off misleading. To the point that it isn't even conspiratorial to think that there's likely to be a hidden agenda behind those unnecessarily uber-negative news. But then again, pushing fear towards readers does get a lot of clicks and shares, so there's that.

bbc.reporter

legendary

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@mk4. Agreed. However, if you do the research and check some of the news media’s sources, you would see that there is some basis for the news. But what the news media is also doing is add some exaggeration and sometimes misreport the news to make it appear more than what the news really was to clickbait the readers.

Read the article from Okex. That is the real news. There will be policy changes in China but it is not targetted towards bitcoin.

mk4

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FUD has always been really old knowing that most(if not all) of the Bitcoin FUD has almost always been just rehashed versions of the older FUDs. But of course, there will always be people that will be affected by these FUD. Mostly the beginners that don't even do the slightest amount of research.

bbc.reporter

legendary

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@pooya87. The was only clearly waiting to happen knowing how much leverage took bitcoin to its new all time high.

@Jeeny43. Yes it appears the sensationalized fud from mainstream news and bitcoin news media is losing its effect. Let us wait for updates after Chinese officials meet in Sichuan on June 2 and further announcements from Beijing on June 4.

This article is from Okex and tells the real story. China did not ban bitcoin, however, it will make policy changes to discourage excessive speculation and control carbon emission.

Here’s the real fact based news. China issued a notice last Friday from the State Council, which aims to clampdown on crypto exchanges and mining, mainly due to potential risks for consumers and society in China.

A few days prior to the State Council notice, the China Internet Finance Association warned the public about the risks of investing in cryptocurrencies, listing four specific issues with cryptos they want to address:

Institutions should understand the nature of Bitcoin and digital currencies.

Financial institutions should not engage in crypto-related business transactions.

China does not offer legal protection for crypto-related investment contracts.

Financial institutions should abide by existing regulations regarding digital currencies.

Due to the State Council notice, some miners have decided to look elsewhere for mining in the interim until the notice is enforced. In addition, exchanges such as OKEx have scaled back some services and products offered to Chinese nationals only. Any changes due to this notice are not impacting non-Chinese nationals, and will only affect users who reside in China and use the Chinese currency renminbi.

Source https://medium.com/okex-blog/no-china-didnt-ban-bitcoin-and-cryptocurrencies-815d58ef5134

pooya87

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The main FUD campaign stopped about 10 days ago when price reached the bottom @$30k and market could not be manipulated more than that. What we've been seeing ever since is newbie FUDsters who think they are spreading FUD but all they do is being annoying.

The crash itself is annoying to see but it is a good thing for the market at the same time. It both provides a golden opportunity to everyone to buy bitcoin at a discount and also it acts like a market cleanse where the weak hands are being removed from the bitcoin market which would then solidify the next rise.

Jeeny43

newbie

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As China bans bitcoin again while India unbans bitcoin again, this is getting played out. The energy consumption FUD is tired BS. The tweets, the misinformed articles, media FUD, etc. This is all getting boring. The fundamentals haven't changed, and the manipulation is getting boring. Seems like every rally, the same boring FUD comes in and scares the newest wave of recent buyers. It's cool if you bought within these recent few months, but stop fucking panic selling and wait for fuck sake. Don't like the current price, wait. Not giving you a good profit, wait. Fucking hold and wait.

Topic: Is the FUD starting to wear off? - page 3. (Read 370 times)