The current news in China is just a fud or something more? - page 3.

htsy585

full member

Activity: 573

Merit: 102

Quote from: CrownMade423 on November 24, 2019, 04:24:46 PM

I saw many posts regarding the recent China news or police raid fact. Nothing is real in that case? What's the thing Chinese Gov is going to do in next? Sometime, it seems to me that the Gov is with blockchain, sometimes, they aren't. Feeling confused.

Since China ventured into cryptocurrency officially they have been doing ton of work to crack down on illicit cryptocurrency centers. Its a good thing they are doing but it looks like they are intentionally carrying out the job to cause more fud which is quite relatable since they don't even rate bitcoin above Neo.

poornamelessme

hero member

Activity: 1204

Merit: 509

Quote from: CrownMade423 on November 24, 2019, 04:24:46 PM

I saw many posts regarding the recent China news or police raid fact. Nothing is real in that case? What's the thing Chinese Gov is going to do in next? Sometime, it seems to me that the Gov is with blockchain, sometimes, they aren't. Feeling confused.

According to Binance, there was no raid. It's debatable if they even have a Shanghai office.

It's also kind of moot ... market overreacted to China making a positive blockchain announcement previously. Then backtracked when it became clear that China was referring to just the blockchain, not specific crypto projects.

It came across as simply a way for whales to temporarily manipulate the market to me. News which shouldn't have made a difference = 3K hike. So when it became clear that folks were misreading China's intentions, 3K retrace. And of course alts get smushed both times.

nelson4lov

hero member

Activity: 2100

Merit: 794

Top Crypto Casino

There's a general misconception about the recent news particularly the one about Police raiding Binance office. It appears that was a false accusation against binance.

China is clearly not fans of Bitcoin and other Cryptocurrencies. It's also clear that Chinese government are against Token offerings, be it ICO, IEO, STO etc. They're simply interested in blockchain technology, the distributed ledger that powers all currencies. If China will ever be interested in any cryptocurrency, It'll be DCEP – China's National Digital Currency.

landoffaucets

hero member

Activity: 1204

Merit: 502

China showed interest in a blockchain technology but not in cryptocurrencies like Ethereum or Bitcoin. They are going to create private blockchain powered by digital Yuan, probably to track more chinese citizens and to secure that they are going to ban cryptocurrency trading. Roll Eyes

CrownMade423

jr. member

Activity: 79

Merit: 1

I saw many posts regarding the recent China news or police raid fact. Nothing is real in that case? What's the thing Chinese Gov is going to do in next? Sometime, it seems to me that the Gov is with blockchain, sometimes, they aren't. Feeling confused.

Topic: The current news in China is just a fud or something more? - page 3. (Read 298 times)