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.
