Topic: Reports of China Banning Bitcoin Are Greatly Exaggerated (Read 1585 times)
Such rumours are spread targeting new traders who are mostly panic sellers, Big whales benefit a lot by spreading such rumours.
They could make a lot of noise and try to ban it w/o a lot of result. This would be enough FUD imho to maybe dump the price for a bit say, down to 500 bucks for BTC again.
But on the flip side in say a month or so ...w/o a lot to show for it ..people would just carry on, in my likely clueless viewpoint.
Now if they suddenly went all 'cultural revolution' and banned 'crypto POW mining of sha-256 btc and scrypt...well that would be a whole nother thing like the 'death star'
is parked in orbit kinda scenario.
The key is MORE adoption worldwide! Less reliance on China masses!
But the ways of China Politics are a mystery to me.
Always remember it is a Communist Country playing at being a Capitalist Country..they will tank the economy and
many other things imho to keep power.....just saying..in the west a well running capitalistic society is needed for stable domestic politics, in China
capitalism is just a tool imho
But on the flip side in say a month or so ...w/o a lot to show for it ..people would just carry on, in my likely clueless viewpoint.
Now if they suddenly went all 'cultural revolution' and banned 'crypto POW mining of sha-256 btc and scrypt...well that would be a whole nother thing like the 'death star'
is parked in orbit kinda scenario.
The key is MORE adoption worldwide! Less reliance on China masses!
But the ways of China Politics are a mystery to me.
Always remember it is a Communist Country playing at being a Capitalist Country..they will tank the economy and
many other things imho to keep power.....just saying..in the west a well running capitalistic society is needed for stable domestic politics, in China
capitalism is just a tool imho
On November 3 the Bitcoin price took a dive from a high of US$745 to a low of $675 with news of China circling the internet. A so-called report from the publication Bloomberg had other media outlets assume that China was planning on curbing Bitcoin use in the near future. However, the reports have remained unconfirmed, and many believe the headline was fictitious.
https://news.bitcoin.com/reports-china-bitcoin-exaggerated/
https://news.bitcoin.com/reports-china-bitcoin-exaggerated/
It doesn`t make any sense for China to ban bitcoin.
China controls bitcoin,why would they ban it.
Merry Christmas,by the way
On November 3 the Bitcoin price took a dive from a high of US$745 to a low of $675 with news of China circling the internet. A so-called report from the publication Bloomberg had other media outlets assume that China was planning on curbing Bitcoin use in the near future. However, the reports have remained unconfirmed, and many believe the headline was fictitious.
https://news.bitcoin.com/reports-china-bitcoin-exaggerated/
https://news.bitcoin.com/reports-china-bitcoin-exaggerated/
I wonder which fool actually believed it. All those who deal in Bitcoin will know it that it won't ever happen. This work is of the people who are scared of Bitcoin and thier power. China won't ever do this shit. A advice don't believe everything media shows us, it's paid to promote fear. So I only will believe this is if some some Sr or legendary member would have said it. So in short China and Bitcoin lover affair is not getting over soon.
China is a country of business minded people. They of all person prioritize income and profit before doing something. With regards to bitcoin, China having to own a biggest hold of bitcoins volume would not do this. Bitcoin is one stepping stone for China to step up in the economic system. If bitcoin where to be the universal legal tender then CHina will be at the top of the world's economic system.
On November 3 the Bitcoin price took a dive from a high of US$745 to a low of $675 with news of China circling the internet. A so-called report from the publication Bloomberg had other media outlets assume that China was planning on curbing Bitcoin use in the near future. However, the reports have remained unconfirmed, and many believe the headline was fictitious.
https://news.bitcoin.com/reports-china-bitcoin-exaggerated/
https://news.bitcoin.com/reports-china-bitcoin-exaggerated/
I wonder which fool actually believed it. All those who deal in Bitcoin will know it that it won't ever happen. This work is of the people who are scared of Bitcoin and thier power. China won't ever do this shit. A advice don't believe everything media shows us, it's paid to promote fear. So I only will believe this is if some some Sr or legendary member would have said it. So in short China and Bitcoin lover affair is not getting over soon.
If China really ban bitcoin, it will be a disaster for bitcoin. This is not impossible as Chinese government does not follow any predefined rules. As long as bitcoin does not affect their economy, they will be OK.
I think that is just a rumor or fake news to me. The truth is.. bitcoin is really in demand there. Or its just their marketing strategy. They make bitcoin owners there to panic sell their holding. They do this to make the bitcoin drop its price to make it more affordable to them.
it was mostly fake news.
because at that time they needed to push the price down a little to test the resistance and buy some cheap coins before the big rise happens and now we see the big rise after that fake news.
I think that is just a rumor or fake news to me. The truth is.. bitcoin is really in demand there. Or its just their marketing strategy. They make bitcoin owners there to panic sell their holding. They do this to make the bitcoin drop its price to make it more affordable to them.
China will never ban it outright. Might just small centers that have no effect on it's price and that are insignificant to the overall bottom line to them.
After all: Bitcoin is China's bread and butter.
They are the one's that benefit the most on it's progress in the global market because they do hold the most of it even if you don't want to believe it but it is true and will continue to be as long as they have the most miners in the world within those mines the size of stadiums and located in those military style bunkers.
After all: Bitcoin is China's bread and butter.
They are the one's that benefit the most on it's progress in the global market because they do hold the most of it even if you don't want to believe it but it is true and will continue to be as long as they have the most miners in the world within those mines the size of stadiums and located in those military style bunkers.
was bloomberg the source saying that this was happening? because i heard it on facebook and twitter too but i wasnt sure
Hello everyone! merry christmas! new to the game, looking forward to being a part of this big big world of cryptocurrency!
It doesn't really matter if the reports are fake, exaggerated, or just empty rumors. Some people believe everything at first glance. That pathethic are they. It's the same old trap that people don't seem to learn from time on time again. Always when the price goes up in a solid manner, something pops up that will cause the price to go down. Why do things like these still come as a surprise for people? Either benefit by using that situation in your advantage, or don't moan about it.
well this news is fake to a great level ,as chinese government supports to a very high level .and government has supported in building up many bitcoin mining areas as they want to the most powerful. On November 3 the Bitcoin price took a dive from a high of US$745 to a low of $675 with news of China circling the internet. A so-called report from the publication Bloomberg had other media outlets assume that China was planning on curbing Bitcoin use in the near future. However, the reports have remained unconfirmed, and many believe the headline was fictitious.
https://news.bitcoin.com/reports-china-bitcoin-exaggerated/
https://news.bitcoin.com/reports-china-bitcoin-exaggerated/
I don't know why people believe this kind of crap. It is a good tactic to manipulate the market though. Very clever. People that believe this kind of thing should not be bitcoin holders in the first place. If you don't have faith in your investment then don't make one. It is as simple as that.
ALso thank you for this thread I wa wondering what was going on with the price of btc ^^
Well given the current information about new facility that will be used for bitcoin mining and will be placed in China, I don't think this is somewhat accurate information.
Of course this was exaggerated "news"!
To me it looks like some people aren't ready accumulating cheap coins and therefore spread again some FUD and nonsense.
I mean we were again on the way up, some negative news from china popped up and we crashed.
Nothing will happen!! There will be no ban in China!
To me it looks like some people aren't ready accumulating cheap coins and therefore spread again some FUD and nonsense.
I mean we were again on the way up, some negative news from china popped up and we crashed.
Nothing will happen!! There will be no ban in China!
How can they really even "ban" Bitcoin? By design it is censorship resistant. They could ban the exchanges but the people will find other ways to convert their fiat to Bitcoin. Bitsquare.io is right there waiting, the darknet markets will not go away and there will be other markets that have yet to be discovered right now. They could threaten to "ban" it but they could not do anything except stop the conversion to fiat. That is good because maybe we need to start realizing that there is no need to convert to fiat.
Of course this was exaggerated "news"!
To me it looks like some people aren't ready accumulating cheap coins and therefore spread again some FUD and nonsense.
I mean we were again on the way up, some negative news from china popped up and we crashed.
Nothing will happen!! There will be no ban in China!
To me it looks like some people aren't ready accumulating cheap coins and therefore spread again some FUD and nonsense.
I mean we were again on the way up, some negative news from china popped up and we crashed.
Nothing will happen!! There will be no ban in China!
As many have speculated there will be some price correction after this almost 15% price pump within last few week however price correction came after this chinese FUD. This have stopped the price growth this time however market may need some rest to see another pump again.
Hype/FUD is everywhere and whales always try to play with sentiments of weak hand traders and from this hoax they have successfully fooled the weak hands who sold their bitcoin to whales (strong hand) in cheaper price. Even the news without any source made a big impact on market which has even become reason for others to panic.
That is true, it is those selfish big traders who used to create that tension in the mind of small traders who have limited knowledge on trading. Even when I heard the news for the first time, I never take it to be serious so it is in no way affected me. Hype/FUD is everywhere and whales always try to play with sentiments of weak hand traders and from this hoax they have successfully fooled the weak hands who sold their bitcoin to whales (strong hand) in cheaper price. Even the news without any source made a big impact on market which has even become reason for others to panic.
I don't care whether china use bitcoin or bans bitcoin. China is super clever and are always planning for explosive financial status. we have rest of the world even if China bans bitcoin. well Chinese exchange site will also go down and number Chinese scammer will also get reduced.
I think there are some people who want bitcoin's price going down, so they made opinion on media banning usage of bitcoins. And i think we don't too believe on media, because usually there are no proof about what they wrote on there.
Who sells their coins as a reaction to baseless rumours any way, that's what I want to know.
its called speculation.
if you can use speculation to make 1% a day.. thats 365% a year
if you know speculation can change a price from $745-$675 ~9%
then you can make one dump grab the 9% and take the rest of the week off still able to make 365% a year
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