Why China is always bad news for bitcoin? - page 5.

cybersofts

copper member

Activity: 658

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Quote from: Carlsen on January 21, 2018, 03:55:48 AM

China was some kind of motor for Bitcoin during the last years.
Unfortunatelly many people in China used it to bring money out of the country, and the government there did not like that.
So chinese government made it harder to work with bitcoin and put up some regulations.
And those regulations the motor, that causes the bad news.

Then you have to keep in mind that in certain time intervalls intentionally rumors were created to bring the price down in order to get cheap coins.
Those rumors work best if they are about troubles in the most important bitcoin country.

I think the Chinese government really like the idea of centralized currency where the government controls every penny. They hate bitcoin because it is the currency which is truly decentralized, they can't control it while their people are using it. Bitcoin is the currency of the people by the people. it gives people freedom by putting them in control of their money.

eloymjb

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we all known that Chinese are known a businessman. all business man do anything to make money. Chinese men do to say negative about bitcoin to make a hard dump on it to buy on dip of the bitcoin. that's why they do anything to have a profit. in the first place Chinese is want our money to become rich.

MGmahesh

newbie

Activity: 98

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I think it's a ploy to make a big plan in mastering the global economy, in every aspect china always wants to master, at least they do not want to rely on the resolve of others, so they will make counter crypto over bitcoin but often their product is always full of manipulation to fulfill his ambitions in world domination.

Edraket31

hero member

Activity: 1190

Merit: 511

Quote from: coynedterm on January 29, 2018, 06:31:19 AM

Quote from: cybersofts on January 21, 2018, 02:49:56 AM

This may sound funny but that is the reality. why?
Though the title says it all, you know China was the once the safe haven for bitcoin and bitcoiners.
Then, China started doing something to hurt the bitcoin and cryptocurrency in-general from banning ICOs to cryptocurrency exchanges and now they are after bitcoin miners, again... What is your thought on this matter? Share with us. thanks

I think it is a type of competition system , like we can see in another field where any type of the rumours they spread to amke Thier own profit and also any type of stupid thing they can , similarly here the same thing happening in the cryptocurrency. As most of the miners as well as most of the bitcoiners crowd is from the China , so here we can expect that there bitcoiners trying to bring new new negative things to make the bitcoin and another altcoins to get dump and after that make buy and make profit with small up , well here we should not se towards the negative news because negative news coming and going are now a usual thing for the bitcoin , so don't care much about them .

For what I am seeing now is that China wanted to have their own crypto that will be out of the market all over the world, they are just being so greed that they don't want bitcoin, not because it is decentralize and it is hard for them to imposed tax on it but because it is not their own coin and they did not create it.

onnz423

hero member

Activity: 840

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China isn't ALWAYS bad news for bitcoin, much of bitcoin's early explosion in growth was due to the miner boom in China. Currently, China holds the lead for the most hashing power, because of this, they always hold a lot of sway in the value of bitcoin, and the level of fees required for transactions to be confirmed quickly. Recently, news about China's changing crypto regulations caused a small crash in the BTC price, due to misinformation, as nobody mentioned a ban, and yet panic still ensues.

coynedterm

hero member

Activity: 882

Merit: 500

Quote from: cybersofts on January 21, 2018, 02:49:56 AM

This may sound funny but that is the reality. why?
Though the title says it all, you know China was the once the safe haven for bitcoin and bitcoiners.
Then, China started doing something to hurt the bitcoin and cryptocurrency in-general from banning ICOs to cryptocurrency exchanges and now they are after bitcoin miners, again... What is your thought on this matter? Share with us. thanks

I think it is a type of competition system , like we can see in another field where any type of the rumours they spread to amke Thier own profit and also any type of stupid thing they can , similarly here the same thing happening in the cryptocurrency. As most of the miners as well as most of the bitcoiners crowd is from the China , so here we can expect that there bitcoiners trying to bring new new negative things to make the bitcoin and another altcoins to get dump and after that make buy and make profit with small up , well here we should not se towards the negative news because negative news coming and going are now a usual thing for the bitcoin , so don't care much about them .

Tony Long

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Quote from: maimainguyen05 on January 29, 2018, 02:32:20 AM

Don't worry about it

) They are the biggest country for now and of course they also has their own cryptocurrency so they're trying to make investors in their country only focus on China cryptocurrency so they often release news has bad effect for Bitcoin

). But it'll not last too long cause Bitcoin is not their own cryptocurrency so they only can affect to Bitcoin price just a little bit

)

You are wrong, they don't have own cryptocurrency.

Tony Long

full member

Activity: 423

Merit: 100

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Quote from: Lemer on January 21, 2018, 02:53:09 AM

This is a stupid country.
Is mainly the corruption in this country is quite serious, so the BTC and encryption currency is the way of the transfer of natural assets, it will make most of the assets transferred to foreign countries, China's so countries need to control the problem of foreign exchange, this is the fundamental.

I think every coin has two sides. Don't you know a man of great wisdom appears slow-witted. This is the strategy. Maybe in the future, China has an integrated regulation. They will open it!
As a participator and entrepreneurs in China, a big country needs to face many risks. Cryptocurrency is one of risks, Chinese like to think twice, then take action. And make a good prepare to take actions.

maimainguyen05

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Don't worry about it

) They are the biggest country for now and of course they also has their own cryptocurrency so they're trying to make investors in their country only focus on China cryptocurrency so they often release news has bad effect for Bitcoin

). But it'll not last too long cause Bitcoin is not their own cryptocurrency so they only can affect to Bitcoin price just a little bit

)

Chrystora123

full member

Activity: 1414

Merit: 228

Omicron is another FUD

I appreciate what the Chinese government is doing to protect their citizens,
so far we know China is a country with a high degree of fraud,
from which it may be the Chinese government considers Bitcoin one of these forms of fraud.

findgreenland

member

Activity: 93

Merit: 10

Quote from: Lemer on January 21, 2018, 02:53:09 AM

This is a stupid country.
Is mainly the corruption in this country is quite serious, so the BTC and encryption currency is the way of the transfer of natural assets, it will make most of the assets transferred to foreign countries, China's so countries need to control the problem of foreign exchange, this is the fundamental.

china is not a open country for fiat currency. While Bit or other altcoins have break such tradition.
Lots of money have exchange abroad by altcoins or bit secreatly without government monitor.
Well, as the feature of bit or altcoins, it is for sure that we still can do something about encryption currency though china has denied it.

paparexon0414

full member

Activity: 432

Merit: 126

We should not blame CHINA for it. I am not a native of this country but i think they are just doing their own business. China is a big country and the people of this country is a big help into the biycoin world. This is the possibilty why somehow bitcoin decrease its value due to massive selling of bitcoin holders from China. Buy what a i read in the website, China wants to create their own token that people from their country should support. Also, they are also preventing any scam from other ICO's (not all, we must say there are some).

zeingrind777

full member

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I think the Chinese government gives a bad image of bitcoin because miners do not pay state taxes so their government is trying to ban its circulation

sotoshihero

hero member

Activity: 850

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Quote from: Abigale123 on January 28, 2018, 09:20:20 PM

Because the government can not control BTC, so of course can not accept him, so there will be no good news

This is the most direct to the point answer whom I agree with. China can not control the bitcoin nor their government can not benefit from it. For them, its better to create a same cryptocurrency or a copy cat that is based on their country besides they have many people or population to used it too which is an advantage to them.

IRISlingk

newbie

Activity: 65

Merit: 0

There are many reasons, of course, but in my mind, it is very likely that they are sending some negative news about bitcoin, causing some Chinese holders to sell bitcoin, the price drops, and the government itself takes the opportunity to buy it. This is my idea because they said it has been a long time since Bitcoin was banned, but until now I have learned that many Chinese are still working on bitcoin.

hghcoin

full member

Activity: 206

Merit: 100

Quote from: zolfa on January 28, 2018, 09:34:03 PM

I think china is in a state of no principle, but certainly china wants to create a new sensation in the world of critics, they want to master and create crypto. so with greed, they are ambitious to mine crypto until they dominate it.

I do not think China is ambitious. China is more worried about it. Fearing that there are still too many people in the Chinese economy to become followers, this is a very serious issue. After the rise and fall of the Internet bubble around 2000, I am also beginning to worry that more people will commit suicide. Therefore, the Chinese government should draw on the experience of the internet bubble and become more rational.

dg2010

sr. member

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China is a country where the Goverment wanna control everything. After a long time can't find the way to control Bitcoin, they ban it. Easy to understand.

gentlemand

legendary

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Welt Am Draht

The Chinese leadership's number one aim has always been to preserve their leadership. Nothing else matters. Something like an unfettered Bitcoin is very certainly not going to help their grip on the country. I'm surprised it took them so long to stop the party.

Nothing good has come out of China for BTC. Their zero fee exchanges had an absolute stranglehold over the price. They would squash every rally from the West and then start over again. The rise above $1000 again only started when they were shut down.

Chinese mining has been a complete cancer on Bitcoin. China has never contributed anything significant to Bitcoin's development. All China has done is take and take and take.

I'd love it if their miners were removed for good, but they're just migrating abroad instead.

wolf one

member

Activity: 133

Merit: 22

Quote from: levvv on January 28, 2018, 09:10:24 PM

I think the government of china doesnt want their peoples get more weatlh from bitcoin.
Not only from bitcoin, also from other altcoins too.
The cryptocurrency can bring profit and wealth for us.

What you are saying is that on the one hand, there is bitcoin that threatens the renminbi status and hinders the Chinese government from restricting the development of bitcoin because it is not good for the Chinese government to master the national economy.

zolfa

member

Activity: 518

Merit: 11

I think china is in a state of no principle, but certainly china wants to create a new sensation in the world of critics, they want to master and create crypto. so with greed, they are ambitious to mine crypto until they dominate it.

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