Topic: The China Effect - page 5. (Read 4117 times)
China is not controlling the price of bitcoin but rather the increase in price as well as the decrease was majorly caused by the bitcoin activities in China. The activities of bitcoin in China especially that they own huge amount of bitcoin will play a huge impact on the market. This fact has caused some major panic to some bitcoin users knowing that China will soon launch its fiat digital currency, they are worried that China will dump huge volumes of bitcoin in the market that will cause a tremendous meltdown in bitcoins price.
We can not do anything with bitcoin because chinese demand is too high and Once there are anything happened with bitcoin or chinese investors of bitcoins. that is very big problem because They owned biggest bitcoins in the world (90% bitcoin amount from China). I think we need another digital coin for the rest of the world.
Where did you get the source that 90% bitcoins are from China, that's an absurdly high number.
http://bitcoincharts.com/markets/
What is happening right now with the value of Bitcoin can all be partly traced to China. Chinese hold a big portion of the quantity of Bitcoin now circulating globally...they can manipulate its value and whatever they do that can affect Bitcoin will have a direct and indirect impact on its market value. Not to mention the fact that pronouncements from the China government in relation to Bitcoin can send the value of Bitcoin tumbling down or rolling up.
And this leads me into thinking...is Bitcoin now tied to China and is there something we can do about it?
And this leads me into thinking...is Bitcoin now tied to China and is there something we can do about it?
As China miners possess higher percentage of bitcoin circulation so they could easily manipulated the market price
They get big profits to sell out at high price and then buy back at cheaper price, wth of bitcoin game.
Hopefully, bitcoin can spread more widely and has more bigger market cap.
The moves are definitely attributable to Chinese authourity involvement and threat of future involvement.
The question is just how much of it is selling by real people or artificial selling by the 4 major exchanges in order to comply with the Chinese central bank after their team meeting. If it's the latter they will be on fractional reserve in a sense and risk a run on their exchanges.
India is in a mess right now and will probably be one of the biggest growth markets for BTC in 2017.
Between them they have a population of 2.5 billion that are being constrained by tighter and tighter capital controls and there are only circa 16 million BTC to exit into...
The question is just how much of it is selling by real people or artificial selling by the 4 major exchanges in order to comply with the Chinese central bank after their team meeting. If it's the latter they will be on fractional reserve in a sense and risk a run on their exchanges.
India is in a mess right now and will probably be one of the biggest growth markets for BTC in 2017.
Between them they have a population of 2.5 billion that are being constrained by tighter and tighter capital controls and there are only circa 16 million BTC to exit into...
What is happening right now with the value of Bitcoin can all be partly traced to China. Chinese hold a big portion of the quantity of Bitcoin now circulating globally...they can manipulate its value and whatever they do that can affect Bitcoin will have a direct and indirect impact on its market value. Not to mention the fact that pronouncements from the China government in relation to Bitcoin can send the value of Bitcoin tumbling down or rolling up.
And this leads me into thinking...is Bitcoin now tied to China and is there something we can do about it?
And this leads me into thinking...is Bitcoin now tied to China and is there something we can do about it?
It is true that Chinese country have to do to much with bitcoin nowadays. The last pump was dedicated to them. The same can be told even the actual dump. What can we do about this? Only one thing: spread the word about bitcoin everywhere. In this way bitcoin will not depend more only from Chinese market and for more from the statements of the Chinese Government which are even the reason of this actual dump.
What is happening right now with the value of Bitcoin can all be partly traced to China. Chinese hold a big portion of the quantity of Bitcoin now circulating globally...
there is no way to know this and you are just making wild assumptions here.
the only thing that we know is that there are big mining farms and mining pools in China, and that is all. the quantity of bitcoin is distributed globally and if anything, i say USA is holding a lot of it.
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they can manipulate its value and whatever they do that can affect Bitcoin will have a direct and indirect impact on its market value.
the manipulation exists in any market and it can be done by whales in all markets, bitcoin is no exception. you can not possibly say Chinese are the only people doing it. and as the market grows the level of manipulation goes down because more investors and lots more experienced investors come in which makes manipulation extremely hard with the pass of time.
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Not to mention the fact that pronouncements from the China government in relation to Bitcoin can send the value of Bitcoin tumbling down or rolling up.
that is mostly FUD in my opinion. and China government has never shown any interest against bitcoin in the past 8 years and if you believe China is holding majority if bitcoins in circulation that means they are rich and rich people will do anything to change the government opinion if they decide to do anything against bitcoin even if it means buying the government.
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And this leads me into thinking...is Bitcoin now tied to China and is there something we can do about it?
what i think is that whenever there is a rise and some people want the price to go down, everybody starts talking about bitcoin being tied to China and whenever the price is stable and wants to rise or on the rise nobody cares about China.
What is happening right now with the value of Bitcoin can all be partly traced to China. Chinese hold a big portion of the quantity of Bitcoin now circulating globally...they can manipulate its value and whatever they do that can affect Bitcoin will have a direct and indirect impact on its market value. Not to mention the fact that pronouncements from the China government in relation to Bitcoin can send the value of Bitcoin tumbling down or rolling up.
And this leads me into thinking...is Bitcoin now tied to China and is there something we can do about it?
And this leads me into thinking...is Bitcoin now tied to China and is there something we can do about it?
You answered your own question.
Bitcoin is very tied to China and this is a major problem for the bitcoin future and growth.
Unfortunately we can`t do anyhting about it.
Of course we can... it won't be easy, it won't be fast, and it may not be possible, but you can't say "we can't do anything", there are always things that people can do to help.
What is happening right now with the value of Bitcoin can all be partly traced to China. Chinese hold a big portion of the quantity of Bitcoin now circulating globally...they can manipulate its value and whatever they do that can affect Bitcoin will have a direct and indirect impact on its market value. Not to mention the fact that pronouncements from the China government in relation to Bitcoin can send the value of Bitcoin tumbling down or rolling up.
And this leads me into thinking...is Bitcoin now tied to China and is there something we can do about it?
And this leads me into thinking...is Bitcoin now tied to China and is there something we can do about it?
You answered your own question.
Bitcoin is very tied to China and this is a major problem for the bitcoin future and growth.
Unfortunately we can`t do anyhting about it.
Question: If it's China that's doing the selling and driving the price down, who are they selling to? And would that not lead to a redistribution of bitcoin? Also, is there any proof of China as a whole being responsible for the drop? I'll admit I read absolutely zero crypto news.
they can sell on those that were believing bitcoin to $2k, or any other country that is buying en mass like india, but i'm more inclined to think that this is a panic selling and a bear trap
it simple increased too fast to be sustainable, also chinese miners if are intelligent enough should hold strong now, because they need bitcoin at that value, and chinese miner are also traders
That's why I made the thread "I don't want a $2,000 bitcoin by February" because I knew if it rose too fast (like it did), it would just come crashing down. Not as badly as 2013, because it didn't rise as badly, but still.
Question: If it's China that's doing the selling and driving the price down, who are they selling to? And would that not lead to a redistribution of bitcoin? Also, is there any proof of China as a whole being responsible for the drop? I'll admit I read absolutely zero crypto news.
they can sell on those that were believing bitcoin to $2k, or any other country that is buying en mass like india, but i'm more inclined to think that this is a panic selling and a bear trap
it simple increased too fast to be sustainable, also chinese miners if are intelligent enough should hold strong now, because they need bitcoin at that value, and chinese miner are also traders
The thing is bitcoin price is been manipulated by the Chinese as majority of the trading volumes for bitcoin comes China. This can lead to massive swings towards up as well as towards down side. We may see more correction in the coming days not just for bitcoins, but also in other altcoins. We will have to wait for the price to settle down and then the people may buy into bitcoin.
its a good thing there are so many coins out there. even if btc fails crypto will surely come up with better coins.
Hmmm, a coin like the one you're trying to promote by spreading FUD? "Pesobit, the Simple Yet Useful Coin"? Haha. You're just like that other guy spreading FUD so he can promote his coin.
So what exactly do you mean by "China has way above 51% of mining power now"? Do you mean the largest pools combined have more than 51%, which also happen to be Chinese companies? If so, that doesn't mean all of that hashing power is coming out of China, it means all of that hashing power from around the world is being pointed at Chinese pools. Hashing power from around the world, that could just as easily be pointed elsewhere if need be.
What is happening right now with the value of Bitcoin can all be partly traced to China. Chinese hold a big portion of the quantity of Bitcoin now circulating globally...they can manipulate its value and whatever they do that can affect Bitcoin will have a direct and indirect impact on its market value. Not to mention the fact that pronouncements from the China government in relation to Bitcoin can send the value of Bitcoin tumbling down or rolling up.
And this leads me into thinking...is Bitcoin now tied to China and is there something we can do about it?
And this leads me into thinking...is Bitcoin now tied to China and is there something we can do about it?
Isn't this a bit obvious? If a country is trading large volumes then obviously they will control the markets.
Unless there are more people outside of China trading there isn't really anything we can do. Anyways why are you worried about it at all?
I wouldn't call this an effect. That's just plain ridiculous.
We can not do anything with bitcoin because chinese demand is too high and Once there are anything happened with bitcoin or chinese investors of bitcoins. that is very big problem because They owned biggest bitcoins in the world (90% bitcoin amount from China). I think we need another digital coin for the rest of the world.
Where did you get the source that 90% bitcoins are from China, that's an absurdly high number.
considering that china has way above 51% of mining power now (maybe 70% or more), they have control of btc now. the biggest miners there can collude and raise the transfer fees and we cant do anything about it. the huge price surge in 2013 was largely attributed to the influx of chinese investors/speculators. china is just too big. even the recent surge is attributed to chinese people trying to circumvent government regulations on moving money. btc is not as decentralized as it is cracked up to be. its a good thing there are so many coins out there. even if btc fails crypto will surely come up with better coins.
Wow, ~70% is really high. I read somewhere that because of the cheap electricity and entrepreneurial spirit, Chinese miners are having a good field year, but 70% is extremely high, and perhaps not too healthy.
I've tried Chinese exchange BTCC and they look pretty solid, the price is in the proper range too and they charge about 0.0001 (iirc it's a small sum) for any transfer out of their exchange.
We can not do anything with bitcoin because chinese demand is too high and Once there are anything happened with bitcoin or chinese investors of bitcoins. that is very big problem because They owned biggest bitcoins in the world (90% bitcoin amount from China). I think we need another digital coin for the rest of the world.
Where did you get the source that 90% bitcoins are from China, that's an absurdly high number.
considering that china has way above 51% of mining power now (maybe 70% or more), they have control of btc now. the biggest miners there can collude and raise the transfer fees and we cant do anything about it. the huge price surge in 2013 was largely attributed to the influx of chinese investors/speculators. china is just too big. even the recent surge is attributed to chinese people trying to circumvent government regulations on moving money. btc is not as decentralized as it is cracked up to be. its a good thing there are so many coins out there. even if btc fails crypto will surely come up with better coins.
We can not do anything with bitcoin because chinese demand is too high and Once there are anything happened with bitcoin or chinese investors of bitcoins. that is very big problem because They owned biggest bitcoins in the world (90% bitcoin amount from China). I think we need another digital coin for the rest of the world.
Where did you get the source that 90% bitcoins are from China, that's an absurdly high number.
Same thought.
The % is high, but not that high.
I heard 68% mining power are from China, not the bitcoin itself. Though these years Chinese bought a lot bitcoins to hide their money, it will be interesting to see what's the percentage they own, but I don't think it is possible.
We can not do anything with bitcoin because chinese demand is too high and Once there are anything happened with bitcoin or chinese investors of bitcoins. that is very big problem because They owned biggest bitcoins in the world (90% bitcoin amount from China). I think we need another digital coin for the rest of the world.
Where did you get the source that 90% bitcoins are from China, that's an absurdly high number.
Same thought.
The % is high, but not that high.
We can not do anything with bitcoin because chinese demand is too high and Once there are anything happened with bitcoin or chinese investors of bitcoins. that is very big problem because They owned biggest bitcoins in the world (90% bitcoin amount from China). I think we need another digital coin for the rest of the world.
Where did you get the source that 90% bitcoins are from China, that's an absurdly high number.
It all comes back to patience. Crypto economy s been constantly growing and I d think once we surpass 25 billion market cap, nothing ll be able to stop that growth anymore. Till then, it s lots of hard work for all of us in promoting crypto projects to the world.
Once we reach this, China will not be such a crucial factor in determining BTC price anymore.
Once we reach this, China will not be such a crucial factor in determining BTC price anymore.
We can not do anything with bitcoin because chinese demand is too high and Once there are anything happened with bitcoin or chinese investors of bitcoins. that is very big problem because They owned biggest bitcoins in the world (90% bitcoin amount from China). I think we need another digital coin for the rest of the world.
Where did you get the source that 90% bitcoins are from China, that's an absurdly high number.
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