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

FUD = Fear, Uncertainly and Doubt

So FUD can to be true or a lie to create those emotions in people.  So that is why this is FUD, people have fear that exchanges will close down.

How is it FUD when exchanges are actually shutting down though?

curious how much money allocated by some whales to trigger these FUDster to appear on surface. not that usual that this stupid thing are now massly increased among this community and pretty much confused about how people could be affected by such thing. and that's right, the FUD perfectly planned that could change the market behaviour smh.

It is amazing how orchestrsted FUD could change market behaviour. From very premium price to panic the cloud is crashing price. Coutesy ; The noobs.

That's cool. We should keep patience and hold very tightly. Right now, all the FUD going on right now because of people going to panic sell , don't believe the hype.

The State Council has adopted regulations on investigating and punishing unlicensed business operations, according to a circular issued on Aug 23.

The rules, which will take effect on Oct 1, are aimed at safeguarding the market order and economic stability, promoting fair competition and protecting the legal rights of business owners and customers.

According to the regulations, no entity or individual should engage in illegal business operations in violation of laws, administrative regulations or the State Council’s decisions.

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.

I bought at the very top because of my colleague passion about how we could all make fortune in this new currency. Unfortunately it's backfire for me now. Maybe i will just hold like everybody is doing

I predict next time, the price of Bitcoin will fall down and keep around the $3,xxx price range, it cannot drop bellow $3,000 because drop bellow this support = a huge panic selling. The scenario of the market now look like as Bitcoin price when it increases to $3,000 failure and drop down to $1,600.

If it is true this price today is cheap and i think the price will stay mark around 3800 to 3900 and we will see burst increase again back in few weeks or months . for now if you wanted to hold bitcoin and buy for cheap price this time is the right time and hold bitcoin..
Looks like we are below in 4k value and i think the price of bitcoin will not go down anymore..
Honestly i am still holding my bitcoins and i will just holding it until the price hit 8k value maybe next year..

And that's the point many people don't understand. There is something called p2p trading... It has been working for nearly a decade.

-snip-

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.

Turns out that the whole sell-off was triggered by Charles Lee (of Litecoin fame) tweeting that China had indeed banned exchanges (remember his brother owns an exchange in China, so he is reasonably well informed.

He deleted the tweet, but if anyone has an archive tool, they should be able to find it from this url:

https://twitter.com/SatoshiLite/status/907664619279343616

When the tweet url was posted on reddit last night before the tweet was deleted, the reddit tweet bot immediately created a post with the message:

https://www.reddit.com/r/Bitcoin/comments/6zp2pj/why_are_people_panic_selling_over_jp_morgan/dmx0kx4/

which said:



I'm guessing the Anonymous source he trusts fully is is brother.

@SatoshiLite

    2017-09-12 17:58 UTC

    Looks like this time China finally banned Bitcoin exchanges. (Anonymous source I trust fully) There's only one response: JUST HODŁ 😁

Embarrassing that hoards of people are still falling for this to be honest. Some of these weak people don't deserve to be on the bitcoin train, they need to man up.

how are people idiots for selling when they can buy back in cheaper

BitKan, an over-the-counter (OTC) trading service for cryptocurrencies in China, announced today that it will suspend operations amid growing scrutiny from domestic regulators.

In the news post, BitKan said it would suspend its trading service beginning at 12:00 a.m. on September 14, a notable development given rumors that OTC markets may be excluded from a possible ban. The suspension will affect both its Web-based and mobile users, but withdrawals and deposits will remain active, according to the firm.

The statement noted that the suspension is a result of an announcement published by People’s Bank of China on September 4 in which seven local financial regulators announced a ban on illegal initial coin offering (ICO) fundraising and trading activities.

BitKan's statement explains:

    "After the suspension of the OTC service, BitKan’s wallets will continue functioning normally. Deposition and withdrawal of funds will not be affected."

The service did not say when – or whether – it would resume its OTC trading. However, the disclosure nonetheless highlights the escalating impact the Chinese government's recent policy moves have had on the local cryptocurrency industry.

how are people idiots for selling when they can buy back in cheaper

1/ I'm unfortunately serious about the Chinese ban on trading of Bitcoin and Ethereum along with ICOs - this has been confirmed by at least

2/ 3+ sources who I believe to be credible- I've had conversations w leading execs who are on the ground in China- Yes this time it's real

3/ so what's that mean? Well, at least for now the government of the People's Republic of China will NOT allow new trading of Bitcoin or

4/ other digital assets-- this comes from the highest levels in China - even above the PBOC - the word is not ambiguous from an exchange POV

4/ so unfortunately the exchanges are now frozen and in a wind down mode -- this is massive in China - but ultimately not for Bitcoin

5/ mining will be exempted and there are BILLIONS of dollars of wealth of Chinese citizens in Bitcoin so govt is cautious of mass revolt

6/ they will keep this low key and not issue any new statement - they don't want to look backwards or cause market meltdown

7/ but the order to ban exchange of digital assets in China is indeed real - I'm convinced that the sources I've spoken with are accurate

8/ result will be a quick period of a rising black market in China followed by more decentralized exchanges, global growth & tech solutions

9/ Chinese investors and HOLDers will quickly find a way to continue to exchange crappy govt fiat for sound money like Bitcoin

10/ it's sort of a Napster move by the Chinese govt: it will accelerate the bit torrent of Bitcoin exchange - & strengthen black market

11/ they will cave to this failure within a couple years, perhaps within a year -- many reasons: internal pressure / external competition

12/ but the ultimate pressure will be that this tech doesn't work well with regulations & honestly is very difficult to control

13/ Chinese citizens will still continue to HODL, buy, use and accumulate Bitcoin. Ultimately the govt will realize it can't stop this

Market cap is still at 142 Billion. There was some dumping again today, which resulted in another panic run. But I guess its all good because bitcoin will be really tested on this trying times. Its really the news that really pull back the price and whether intentionally by the Chinese it doesn't matter. They can go out now. For me they have benefited from the news they have announce, fake or not. I don't know what they are dumping bitcoin, if they are chasing ICO's the most likely to be affected is Ethereum. That's why it doesn't make sense to me seeing bitcoin being dump by them. So I'm speculating that they are really spreading FUD so that the big whales can benefit from all this panic.

I dont see any big volume with this fall. Market cap is still 144 Billion quit with the FUD. This time, most likely. Hold on tight!

Well i dont think so. it's just whales. I dont see any big volume with this fall. Market cap is still 144 Billion quit with the FUD. This time, most likely. Hold on tight!

That's why I like being here. Ethereum would be the most and overt dumped if it comes to ICO prohibition. What we have now it's 20% correction after August 50% run and that Chinese FUD is only excuse.

I am quite sure that the drop we have experienced recently, is only the result of the long waited for correction. It's a pretty mild correction considering that we are still hovering over the $4000 level. If we look at the crypto market in general, and then directly at what coin should really get affected by this ICO ban, then it's Ethereum. This coin thrives on this ICO boom as insane number of coins get pumped into ICO's, making sure that these coins aren't coming back into the circulating market for quite a while - result in Ethereum's case is clear if we look at how it has exploded in value this year. Bitcoin shouldn't at all get affected by this, so I don't believe this ICO ban has had any effect on Bitcoin's market recently.

The price is beginning to recover as we enter Tuesday, hopefully after another China FUD stunt over the weekend the price picks up & heads towards the range we were at pre dump. Be nice to see somewhere between $4600-$4900 by the end of this week.

maybe my IQ is too low to understand certain things, but look at this:

" 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.
 "

I understand with these words that bitcoin and all altcoins fit into these words.

they need to use another argument to ban ICO's, unless the intention is to ban all “virtual currency”

...

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.

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.

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.

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.

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

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.

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

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.

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.

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.

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.

Embarrassing that hoards of people are still falling for this to be honest. Some of these weak people don't deserve to be on the bitcoin train, they need to man up.

this is starting to become really ridiculous!
the FUD comes, the weak hands panic, price drops, whales enjoy their shorts and make a lot of money, then the buying frenzy starts at the bottom and the price recovers. result? much richer whales!

it is like what they say:
"fool me once, shame on you; fool me twice, shame on me"

this is starting to become really ridiculous!
the FUD comes, the weak hands panic, price drops, whales enjoy their shorts and make a lot of money, then the buying frenzy starts at the bottom and the price recovers. result? much richer whales!

it is like what they say:
"fool me once, shame on you; fool me twice, shame on me"