Topic: Randomness from a chinese. - page 2. (Read 4710 times)

Thanks for this I really enjoyed your reply, my article was written more with my stomach than with the mind linked to my hands. Your reply is much clear and push it forward I hope Everybody will read it carefully.

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Thanks also to BittBurger it wasn't really my purpose to let people buy anything for real haha.

But now after the first sentences about I was a NXT PR, I'm BTC C PR haha. Why people cannot read?

Hi there,
somebody might already know me because of my first introduction in this forum one week ago.

I'm a chinese citizen and I feel strange to read all this news about China, India, Russia, Bulgaria, Slovenia from people that lives in other countries.
I think if people really needs to know something about a country should go there and check or at least talk with a chinese, indian, russian or whoever.

So, here I can tell you my point of view from my window in one of the biggest chinese cities (I wouldn't tell you which one but you can easily guess).

Chinese people has been described as crazy investors, crazy traders, everything crazy.
But the reality is that chinese people are really careful in investments and this means something that probably only a few people knows. The 75% of all the mining activity it's here.
What does that means? Everybody told us that chinese invest invest invest.

No, only a few people invest, and the majority of them it's already gone and actually BTC as itself really didn't care too much about it cos the price is now stable between 700-750.

So what actually happened when there was the biggest bubble in BTC? Chinese investor arrived?
No.

It's the overall people mentality that make that bubble. Like all the other bubble like if today I tell you that my compound friend is buying some scamcoin in particular. I know that for many people it's still hard to think that this market can be real, can be solid and can go far because it's not BTC it's the crypto-coins idea that is strong enough.

Only a few people looked at the BTC China datas(also because at this point of the story it's hard to see anything cos they hide all the details about their losses).

But I can tell you the ones I clearly remember and know.
One month ago BTC China was the biggest Exchange in the world with around 130.000 BTC nobody still seen today how many are the BTCs that they owns. ฿3,456.67 this is the number today.

So to whom still saying china this, china that this is the reality. China is out.
Now many people will come and say yes but you have other big exchange like fxbtc bla bla bla.

The ONLY real company is BTC CHINA. The CEO is litecoin's founder brother, it's a forward-thinking guy for sure.
All the other exchange are personal people that open a bank account and try to obey the law doing some little thing.


So to close this argument (I already know that will never be closed because people thinks that will gain money to invent some good lies about me and my country) the only thing you should care about us is that tons of people is mining BTC in particular. AVALON ASICs are best seller here and even parents of little child do the mining for fun.
This is the real problem, my country is a country that moves like sheep group so if one starts all the other will follow, and after they realise that trading it's dangerous everybody said mining is not. (Even if the investment today it's ridiculous because the difficulty two weeks ago was 900.000 and now is 1.100.000 ahah)


I hope that I made a clear enough description for whom it's really interested in. I also know that many people will say yes, it's ok but you don't have to say the reality cos this market is good just because people is ignorant. Yes.


EDIT: I removed the NXT opinion because everybody thinks that 3 lines in a topic is important to push people to buy some coins.

Please list 100 phone numbers so I can call them and ask.

1. Yes, just watching the data at BTCChina was enough to prove that Chinese are more cautious and less greedy. Also, since I translated the "bad news" out of China through an actual service, not google or reddit, I knew the market reaction wasn't initiated by the Chinese (this was ALSO evident from exchange data), because the news wasn't bad. It grew progressively more strict, but not much more than the US FinCEN's apparent position in March. Perhaps less so. At least China gave specific direction. FinCEN was vague, as if they were trying to leave ways for users to get screwed by them later, when they clarify their position.

Additionally, volatility analysis shows much more "signal" and far less "noise" in BTCChina trade patterns. This is evidence of Western greed and shortsightedness and emotional trades, while China (despite the "source" of bad news) traded logically. You don't need to be an applied math major to see this: just go to the 1hr chart or so, on bitcoinwisdom, and compare the 2 or 3 week periods starting before Thanksgiving. The candles are not anywhere near as thick in either direction of overall movement. Thus, the Chinese (despite great volume and zero fees at the time, which should have encouraged even less thought in trading), at least those investing in Bitcoin, are considerably wiser traders than their counterparts in the rest of the exchanges.

This depresses me, but then given our placement in math and science and other scholastic achievement measures, I can't say I'm surprised that overall, China is a better fit with Bitcoin, both in trading and in ability to understand it in the first place.

2. Yes. Any insight into OKCoin's impossible (??) trade volume? Or is it legit because of the ability to arbitrage using LTC? BTC-e is the top in volume (normalized to BTC) followed by OKCoin, so perhaps it is legitimate?

3. Don't worry, people are testy about alt-coins. I'm not sure about NXT, but the trio of BTC, LTC, and PPC are all in my mind probably pretty permanent in the sector. Competition is good, and not for a warm, fuzzy reason but genuinely because there is extensive math I could whip out (having spent days on it) that shows having at least two, preferably several (subject to the usual law of diminishing returns) solid, differentiated (scrypt / PoW+PoS hybrid / etc.) near-frictionless transparent-chain cryptos is necessary for the market to thrive. Contrary to belief, BTC is worth more, and safer, as a system because LTC exists. PPC, as the 3rd, not as influential but still. Garbage alt-coins (devcoin etc) do weaken the ecosystem somewhat, but not extensively.

Cheers, and keep mining and investing. Don't sweat what "people" think. The market thinks what the math says. Eventually the people will follow, whether they know why or not.

This is why nobody of us talk and explain to anybody else. People thinks that we have some particular interests in talking.
To who says that chinese people it's really about BTC and continuing to buy (even without me )

this is BTC China https://vip.btcchina.com
And I am one of the most rated users as you can check. Btw I'm sorry about my opinion on NXT really If i knew that before I would never talk about it.

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Chinese people has been described as crazy investors, crazy traders, everything crazy.
But the reality is that chinese people are really careful in investments and this means something that probably only a few people knows. The 75% of all the mining activity it's here.
What does that means? Everybody told us that chinese invest invest invest.

No, only a few people invest, and the majority of them it's already gone and actually BTC as itself really didn't  China datas(also because at this point of the story it's hard to see anything cos they hide all the details about their losses).

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The ONLY real company is BTC CHINA. The CEO is litecoin's founder brother, it's a forward-thinking guy for sure.
All the other exchange are personal people that open a bank account and try to obey the law doing some little thing.

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EDIT: I removed the NXT opinion because everybody thinks that 3 lines in a topic is important to push people to buy some coins.

BTTChina was between $100 and $150 higher than Gox for much of the boom.  Yes, that was speculative inteterst, not miners selling.  Was it all foreigners?  Foreign investment was in BTC, not RMB, so how could they push the price up?  Only down.

Kaliber1 I disagree with you, BTC China driven the bubble and everybody followed. I don't think anybody else in the world took the time to transfer money to BTCChina? If it's 10 or 10000 people I don't know.

I've done a tour around China a few months ago, it's a great country full of friendly people.

But sorry you are missing out on BTC, it's definitely going places with or without you. Have fun gambling with NXT

Surprised it took this many posts for someone to call this out.  Obvious NXT fluffer, IMO