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Topic: More Chinese FUD to trigger panic selling on idiots - page 3. (Read 2934 times)

legendary
Activity: 1652
Merit: 1088
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The so called report collected from trusted sources within Chinese officials is probably nothing more than something that a trader who had significant amounts of short positions piled up, leveraged, ready to make a profit commissioning these news reporters to make up news from thin air.



The Chinese central bank put out a statement in English:

http://www.pbc.gov.cn/english/130721/3377816/index.html

Quote
I. The Essential Attributes of Fundraising Through Coin Offering

Financing through coin offerings refer to financing bodies raising virtual currencies such as Bitcoin or Ethereum from investors through illegal sales and circulation of crypto currency or tokens. Such offerings, in essence, are unauthorized and illegal public fundraising and are suspected of involving in criminal activities such as illegal selling of tokens, illegal issuance of securities, illegal fundraising, financial fraud and pyramid schemes. The competent authorities will closely monitor the related developments, strengthen coordination with the judicial departments and local governments, strictly enforce the law and work based on the current mechanism, and resolutely clamp down on market irregularities. Any suspected crimes, once identified, will be transferred to judicial department.

The token or “virtual currency” used in coin offerings are not issued by the monetary authority. Such currency does not have characteristics of money such as legal tender status and mandatory use, has no legal status equivalent to money, and cannot be circulated or used as currency in the market.

II. No Organizations or Individuals Shall Engage in Illegal Fundraising through Coin Offering

From the date of release of this Notice, fundraising through coin offering shall be banned immediately. Any individuals or organizations that have completed fundraising through coin offering shall make arrangements to return the funds raised, and to ensure that the legitimate rights and interests of the investors are protected and the risks involved are properly managed. The government departments concerned will strictly investigate and address the coin offering activities that have continued despite the ban and the illegal activities in the projects that had completed fundraising.

This is the first time the PBOC has decided to clarify in English, and I don't think there is any ambiguity - selling of tokens is illegal and what do exchanges do? Buy and sell cryptocurrency tokens.
hero member
Activity: 588
Merit: 500
http://finance.jrj.com.cn/tech/2017/09/08211823086220.shtml

Weekend is near, and China tested their power again with their ICO news. Well now they spread some rumors about a ban on actual Bitcoin (not just ICOs) to crash the market. They put shorts, they launch the news, they make a killing.

Next week we will recover and China will have even more BTC. This is how China is stealing BTC from the hands of weak-handed panicsellers, they have been doing it for years and will continue to do so for as long as panicsellers panicsell with ban news.

Even if the ban was real, it's irrelevant, the protocol works and it will recover, and then China will have nothing else to FUD with, which is why they will not actually ban it.

This part of your post is completely right in my opinion.

The so called report collected from trusted sources within Chinese officials is probably nothing more than something that a trader who had significant amounts of short positions piled up, leveraged, ready to make a profit commissioning these news reporters to make up news from thin air.

People are starting to realize this now, and price has rebounded back to $4350. Nothing has happened to exchanges, nothing at all. They have all received no news whatsoever of a potential policy change from Chinese regulators. I predict the price to go to $5500+ by the start of next month as the news is confirmed fake and people become confident in trading again.
full member
Activity: 152
Merit: 100
It was so many times before that "China to ban bitcoin" FUD would had turned into bullish  Smiley , but it didn't this time.
I am still not quite sure that speculation about PBoC argueable ICO regulation was the only trigger of cryptomarket  rolling down. Prices dropped at openning American trading session time, not Asian.
full member
Activity: 504
Merit: 100
it is always good news when the panic starts. i see only profit at times like this. i always wait for the panic to end and then i get some money from anywhere i can manage, even if it means borrowing it and then buy as much bitcoin as that money buys me at the bottom and get the reward in less than a weak as those who sold are then buy back from me at a higher price. i give back the money i borrowed and keep the profit in bitcoin Smiley

Yes, that is what I wish I had done after each and every time... but I just am against borrowing money from people I am not 100% sure of, and when this shit happens I never have enough money of my own to buy some more btc. The best thing that could happen is to predict a fall to go further when it starts and sell there your own btc to buy it back in 48hrs or less. Which was, I guess, less this time.
I cannot understand your mean, why we need buy back in 48 hours or less? Do you have any issue for buy later than that limit time? Bitcoin does not increases fast when has panic seller on the market, but you will miss opportunity buy back with cheap price if you buy late Grin
It seems to me that many traders are happy about this news about the panic. The fact is that lately, at all price fluctuations, crypto currency, some people have earned a huge fortune. Thus, the Chinese situation and the excitement in the market in this respect are only positive for us and plays a good role in the purchase of cheap Bitcoin.
full member
Activity: 223
Merit: 250
it is always good news when the panic starts. i see only profit at times like this. i always wait for the panic to end and then i get some money from anywhere i can manage, even if it means borrowing it and then buy as much bitcoin as that money buys me at the bottom and get the reward in less than a weak as those who sold are then buy back from me at a higher price. i give back the money i borrowed and keep the profit in bitcoin Smiley

Yes, that is what I wish I had done after each and every time... but I just am against borrowing money from people I am not 100% sure of, and when this shit happens I never have enough money of my own to buy some more btc. The best thing that could happen is to predict a fall to go further when it starts and sell there your own btc to buy it back in 48hrs or less. Which was, I guess, less this time.
I cannot understand your mean, why we need buy back in 48 hours or less? Do you have any issue for buy later than that limit time? Bitcoin does not increases fast when has panic seller on the market, but you will miss opportunity buy back with cheap price if you buy late Grin
hero member
Activity: 966
Merit: 506
Let them sell. China and the nay sayers are there every couple months and it is not a bad thing in the end. It is a good way to separate the men from the boys and keep the veteran trading group strong with those that can ignore the BS. I would rather see the scared and spineless run and dump rather than have that kind of fickle player in the markets, they are the reason that the prices are harder to predict than in some other markets.
full member
Activity: 260
Merit: 102
it is always good news when the panic starts. i see only profit at times like this. i always wait for the panic to end and then i get some money from anywhere i can manage, even if it means borrowing it and then buy as much bitcoin as that money buys me at the bottom and get the reward in less than a weak as those who sold are then buy back from me at a higher price. i give back the money i borrowed and keep the profit in bitcoin Smiley

Yes, that is what I wish I had done after each and every time... but I just am against borrowing money from people I am not 100% sure of, and when this shit happens I never have enough money of my own to buy some more btc. The best thing that could happen is to predict a fall to go further when it starts and sell there your own btc to buy it back in 48hrs or less. Which was, I guess, less this time.
legendary
Activity: 3108
Merit: 1029
http://finance.jrj.com.cn/tech/2017/09/08211823086220.shtml

Weekend is near, and China tested their power again with their ICO news. Well now they spread some rumors about a ban on actual Bitcoin (not just ICOs) to crash the market. They put shorts, they launch the news, they make a killing.

Next week we will recover and China will have even more BTC. This is how China is stealing BTC from the hands of weak-handed panicsellers, they have been doing it for years and will continue to do so for as long as panicsellers panicsell with ban news.

Even if the ban was real, it's irrelevant, the protocol works and it will recover, and then China will have nothing else to FUD with, which is why they will not actually ban it.

At least some responsible government.  China is making sure, more people will get Bitcoin before it gets to expensive. Without China wise leaders, Bitcoins would be $100k by now and who you think could afford to buy them?

Rothschild's
Walton's
Koch's
Mars's
Slim's
Bettencourt's
Arnault's

same old shit as we have now.

We are lucky some countries are lead smart leaders and not funny hair leaders like North Korea and USA.


bitcoin is flexible, even if the price hits $100,000 dollars it will still affordable even for beggar, what's the matter now. it's not all about the price but just how the regulation of the chinese government could trigger panic sells. one more, there's nothing like "China is making sure, more people will get Bitcoin before it gets to expensive", china government don't give two shits about this and plain BS
legendary
Activity: 3234
Merit: 5637
Blackjack.fun-Free Raffle-Join&Win $50🎲
http://finance.jrj.com.cn/tech/2017/09/08211823086220.shtml

Weekend is near, and China tested their power again with their ICO news. Well now they spread some rumors about a ban on actual Bitcoin (not just ICOs) to crash the market. They put shorts, they launch the news, they make a killing.

Next week we will recover and China will have even more BTC. This is how China is stealing BTC from the hands of weak-handed panicsellers, they have been doing it for years and will continue to do so for as long as panicsellers panicsell with ban news.

Even if the ban was real, it's irrelevant, the protocol works and it will recover, and then China will have nothing else to FUD with, which is why they will not actually ban it.

This certainly makes sense,they have power to do such things and any bad news they publish is make a significant drop in BTC price.But we have very strong resistance at 4000$ and no bad news can crash price bellow that point on western exchanges.But after news is go out, price on Chinese exchanges go under 4000$,I think I see around 3600$.

After ICO&exchanges only thing they can try to regulate next is mining farms,imagine news that Chinese authorities are planning to close down all mining farms in China-that will be big killing&bloodbath for cryptocurrencies...
hero member
Activity: 770
Merit: 500
Bazinga!
it is always good news when the panic starts. i see only profit at times like this. i always wait for the panic to end and then i get some money from anywhere i can manage, even if it means borrowing it and then buy as much bitcoin as that money buys me at the bottom and get the reward in less than a weak as those who sold are then buy back from me at a higher price. i give back the money i borrowed and keep the profit in bitcoin Smiley
hero member
Activity: 672
Merit: 503
http://finance.jrj.com.cn/tech/2017/09/08211823086220.shtml

Weekend is near, and China tested their power again with their ICO news. Well now they spread some rumors about a ban on actual Bitcoin (not just ICOs) to crash the market. They put shorts, they launch the news, they make a killing.

Next week we will recover and China will have even more BTC. This is how China is stealing BTC from the hands of weak-handed panicsellers, they have been doing it for years and will continue to do so for as long as panicsellers panicsell with ban news.

Even if the ban was real, it's irrelevant, the protocol works and it will recover, and then China will have nothing else to FUD with, which is why they will not actually ban it.

At least some responsible government.  China is making sure, more people will get Bitcoin before it gets to expensive. Without China wise leaders, Bitcoins would be $100k by now and who you think could afford to buy them?

Rothschild's
Walton's
Koch's
Mars's
Slim's
Bettencourt's
Arnault's

same old shit as we have now.

We are lucky some countries are lead smart leaders and not funny hair leaders like North Korea and USA.



China is probably funding Bitmain and doing a ton of damage to Bitcoin with their stalling tactics such as Bitcoin Unlimited, Bitcoin Trash or whatever else they feel like shilling at that particular time. They are funding all these trojan horse attempts, trying to control Bitcoin not only in terms of holding BTC, but trying to get rid of Core devs to put China-funded developers that will do what they want.

China is not our friend, no government is our friend when it comes to Bitcoin. They all want to control it and steal it from you so keep your eyes open.
sr. member
Activity: 378
Merit: 250
If this theory of yours is really true? then so be it as people will tend to learn with this and will be more wiser the next time that this will happen and it is the same goes with the Bitcoin itself also. Bitcoin price is really strong though in my own opinion that it really withstand the issues this week and it still never going back to the $3,000+ price.

If the Government of China is really behind with all of this then I think there are group of people who really pursue telling their political agenda.
legendary
Activity: 3024
Merit: 2148
I think most traders know by one that "China bans Bitcoin" is just a classic FUD and an obvious attempt at insider trading, so only noobs believe in it and panic. We can see that any dips caused by panic sells quickly recover.  Now, lets imagine China would actually ban Bitcoin - would it be catastrophic? Obviously no, it's only one government, and it's not even the strongest one economically. Such ban would harm Bitcoin mining, but it will open opportunities for mining in other countries, so Bitcoin will continue to grow in the long run.
newbie
Activity: 1
Merit: 0
Just bought a good quantity of EOS at 0.80!

The chinese opened us a great buy window.
legendary
Activity: 2590
Merit: 3015
Welt Am Draht
https://twitter.com/luluyilun/status/906163511658557440

As ever, the Chinese exchanges, y'know the ones about to die, have heard nothing and are humming away contentedly.

I don't know if the big exchanges have any involvement with the Chinese ICO scene. Perhaps it's just going to be the questionable little ones.
legendary
Activity: 2128
Merit: 1293
There is trouble abrewing
Wow, some bitcoin believers are really living in an alternate reality. Face the facts, sell your coin with a hefty profit, the time to buy back in will come around someday.

you should always sell on top of the dip though. with every minute passing, it becomes later and later to even want to start thinking about selling.
on top, or when the dump begins you can be sure that you are making profit but when some time has passed (usually when the newbies start selling) it is already too late and you will be selling at a loss at the bottom.

in other words if you are a trader and you were fast then sell. it is an awesome opportunity to buy at the bottom from those idiots who dump at the bottom.
but if you are not a trader or you feel you are late, then don't be dumb.Wink
sr. member
Activity: 266
Merit: 250
Wow, some bitcoin believers are really living in an alternate reality. Face the facts, sell your coin with a hefty profit, the time to buy back in will come around someday.
legendary
Activity: 2730
Merit: 1288
http://finance.jrj.com.cn/tech/2017/09/08211823086220.shtml

Weekend is near, and China tested their power again with their ICO news. Well now they spread some rumors about a ban on actual Bitcoin (not just ICOs) to crash the market. They put shorts, they launch the news, they make a killing.

Next week we will recover and China will have even more BTC. This is how China is stealing BTC from the hands of weak-handed panicsellers, they have been doing it for years and will continue to do so for as long as panicsellers panicsell with ban news.

Even if the ban was real, it's irrelevant, the protocol works and it will recover, and then China will have nothing else to FUD with, which is why they will not actually ban it.

At least some responsible government.  China is making sure, more people will get Bitcoin before it gets to expensive. Without China wise leaders, Bitcoins would be $100k by now and who you think could afford to buy them?

Rothschild's
Walton's
Koch's
Mars's
Slim's
Bettencourt's
Arnault's

same old shit as we have now.

We are lucky some countries are lead smart leaders and not funny hair leaders like North Korea and USA.

legendary
Activity: 2590
Merit: 3015
Welt Am Draht
Well, I hope they actually do ban it properly once and for all. As ever it's impossible to tell what's true and what isn't, but they quite clearly don't trust it so they may as well nip it in the bud sooner rather than later.

I assume ICO extermination is a certainty and that's fair enough. Dunno about the rest. I can't say I'll be pining for the Chinese market if it's gone. Its neutering at the start of the year is what started the proper price explosion anyway.
hero member
Activity: 1708
Merit: 606
Buy The F*cking Dip
Their FUD is currently working right now as many people are starting to panic sell. BTC market dipped again together with the alts market. I can't believe that many people are really believing this FUD news. They are selling their coins which I believe they got in a much higher price leaving them at a loss. Weak-hand traders are getting right now especially the noobs and newbies who just got in into cryptocurrency hoping that they could be rich in just a few days.  Roll Eyes Chinese people should be celebrating now as they are getting more Bitcoin at a much lower price.
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