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Topic: The People's Republic of China has successfully pumped and dumped Bitcoin - page 2. (Read 4831 times)

newbie
Activity: 52
Merit: 0
After being wary of all those new Altcoin pump and dump twitter accounts, no one was looking in the other direction.

Lets take a moment to remember what those in power do: use that power.
With a dumbed down populace due to the great Firewall, throw some pro Bitcoin messages on the media, and buy up. When we've double topped, dump, and start the flow of bad press.

A simple yet brilliant plan at the same time.


Seems like another conspiracy theory to me. A lot of the money would come from Chinese people, wouldnt it be easier to tax Chinese people more instead?

I don't shy away from conspiracy like theories since Snowden. Anyways, in a troubled country like China with many poor, kept ignorant, and bathed in pollution, a way to lift money without a connection to government may be desirable.
hero member
Activity: 952
Merit: 1000
After being wary of all those new Altcoin pump and dump twitter accounts, no one was looking in the other direction.

Lets take a moment to remember what those in power do: use that power.
With a dumbed down populace due to the great Firewall, throw some pro Bitcoin messages on the media, and buy up. When we've double topped, dump, and start the flow of bad press.

A simple yet brilliant plan at the same time.


Seems like another conspiracy theory to me. A lot of the money would come from Chinese people, wouldnt it be easier to tax Chinese people more instead?
legendary
Activity: 1692
Merit: 1018
China is trying to corner the bitcoin and litecoin markets by dumping the value and buying up cheap coins from panicking speculators.  We need to buy all the bitcoins and litecoins before they get them. 
hero member
Activity: 840
Merit: 1000
After being wary of all those new Altcoin pump and dump twitter accounts, no one was looking in the other direction.

Lets take a moment to remember what those in power do: use that power.
With a dumbed down populace due to the great Firewall, throw some pro Bitcoin messages on the media, and buy up. When we've double topped, dump, and start the flow of bad press.

A simple yet brilliant plan at the same time.

Good point!

China have went from tacitly promoting Bitcoin to totally fkn nailing it within the space of just a few weeks.

In centralised command and control nation such as China, something very fishy about the whole sudden U-Turn.
newbie
Activity: 52
Merit: 0
all the politicians that matter/have power re bitcoin in china have more power and money than bitcoin can provide them.

About 1-2 Billion could have been made, this is enough incentive. Remember those who have massive amounts of money have that much because 'a ton of money is enough' is not their mentality.

The point is it must have been relatively easy to accomplish this and per the value gained it must have been worth it.
hero member
Activity: 602
Merit: 500
all the politicians that matter/have power re bitcoin in china have more power and money than bitcoin can provide them.
hero member
Activity: 980
Merit: 500
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Why not? for its value per effort ratio, its very lucrative

And of course the Gov is made of people who like money

Gov is bathing in money, they for sure do not need to dabble in bitcoin, when they have proven methods of gain.
newbie
Activity: 52
Merit: 0
The Chinese gov is far more centralized than the U.S. - it wouldn't be too hard to have regulators wait to make a cool billion. Remember the currency QQ? and China's capital controls? They wouldn't like Bitcoin normally, but are ok with making money. Hence the strict regulations now.

Let me remind of the famous NY Times article: http://www.nytimes.com/2012/10/26/business/global/family-of-wen-jiabao-holds-a-hidden-fortune-in-china.html

"...politically connected people have profited from being at the intersection of government and business as state influence and private wealth converge in China’s fast-growing economy."
hero member
Activity: 898
Merit: 1000
You think if I had evidence I'd be posting here?

Just postulating what I think per human nature is most likely

I postulate that's stupid.

Its not that stupid. Governments consist of people. People in power.
hero member
Activity: 686
Merit: 500
Whoa, there are a lot of cats in this wall.
You think if I had evidence I'd be posting here?

Just postulating what I think per human nature is most likely

I postulate that's stupid.
newbie
Activity: 52
Merit: 0
You think if I had evidence I'd be posting here?

Just postulating what I think per human nature is most likely
legendary
Activity: 2058
Merit: 1452
provide evidence of government involvement or gtfo.
newbie
Activity: 52
Merit: 0
Why not? for its value per effort ratio, its very lucrative

And of course the Gov is made of people who like money
member
Activity: 84
Merit: 10
I don't exactly think the Chinese government would need to do that in order to raise funds...
newbie
Activity: 52
Merit: 0
After being wary of all those new Altcoin pump and dump twitter accounts, no one was looking in the other direction.

Lets take a moment to remember what those in power do: use that power.
With a dumbed down populace due to the great Firewall, throw some pro Bitcoin messages on the media, and buy up. When we've double topped, dump, and start the flow of bad press.

A simple yet brilliant plan at the same time.
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