Topic: why WSJ report about Bitcoin's Price high has little effect on price? (Read 1254 times)

How many countries do even follow The Wall Street Journal  ? They can manipulate the share marketing events by faking the stats not bitcoins.Bitcoins 10 - 0 Wall Street Journal

I think a lot of people who faithfully read the WSJ know whatever they need to know about bitcoin, and my guess is that a lot of them see it as magic internet moondollars.  And extremely volatile ones at that.  I totally wouldn't expect an article to move the price any.
I don't think it would take nearly 50%.  If Warren Buffett dumped his Coca-Cola stock, which is something like 6% of the company, the price would likely fall drastically.  Someone correct me if I'm wrong.

Or maybe that piece of news is already priced in. That usually happens when there are people who know what will come out on the news before it is released. All kinds of news are probably leaked to some of the connected people who have access to the writers.

So? What now? Does it affect the price of bitcoin? Bitcoin right now has a large market capital. I dont think bitcoin can easily drop because of someone that dump all his bitcoin unless he holds atleast 50% of bitcoin. Bitcoin is tested for many years now. Do you think they can kill it easily? As long as many people supports bitcoin, theres no way to kill it. Unless you kill internet.

On the flip side, articles mentioning new organizations accepting bitcoin do not impact Bitcoin's price positively these days. The price rise seems to have no particular drivers. We are in the midst of a bull run and minor news items like these don't seem to have an impact on the rampaging bulls.

What we would end up with, in case of a complete domination over Bitcoin by China, is a fork for the east and one for the west. I don't really see it going that far though. I was really surprised the Asian market didn't latch on to dogecoin more than they did. Maybe there should be a ManekiNekocoin just for them.

market cap?
lol

guys come on wake up

the 16million coins are not all loaded onto exchanges.
the truth is unlike say 2013 where well over 1million coins of 12million coins were loaded onto the main exchange (mtgox)

now only a couple hundred thousand coins at most are loaded onto any exchange at any time. yea it may total over 1mill coins combined. but dont pretend the whole 16m of coins are inplay directly affecting the exchange price.

media news doesnt really affect price anymore. its more about the whim of those running bots and those with just enough coin to create resistance walls or 'whale' orders..

Here is my understanding. In December 2013, China’s government intervened  and cut off the flow of money between Chinese banks and Bitcoin exchanges, later to be poorly and falsely named as a bubble. Not true!  Behind the power of Chinese companies stands Chinese Party members, whom have already come to play a major role in a civil war that has divided Bitcoin followers. This war is part of a much larger financial/ policital moves in line with the Belt and Road Initiative on the global stage. The power of Chinese companies (under a single jurisdiction) has already come to play a major role in a civil war that has divided Bitcoin followers - and China is taking for example IMO SegWit as a `hostage` in those ongoing (secret-cyber-crypto-)battles, united as said under a single jurisdiction, which does not bode well.

China has a majority control of the Bitcoin network, and through its proxy agents for exaplme PR this last year as an "identity-ideology crisis", which they have created at first place, acting mindfully agaist Bitcoin early conception, in they claimed war. Bitcoin was to exist beyond the control of any single government or country. China has become a market for Bitcoin (tokens and blockchain) unlike anywhere else. China’s clout is raising worries about Bitcoin’s independence and decentralization, which was supposed to give the technology freedom from the sort of government crackdowns and interventions - this leads to bigger questions of what Bitcoin should look like in 10 or 20 years?

China has no power and wishes to leadership openly and responsibaly the industry, for so many failing levels and matters. From the beginning, Bitcoin was designed to be decentralized (operated by all the people who joined their computers to the Bitcoin network and helped process the transactions), but China does not stand for that, thus de-facto changing Bitcoin's ecosystem with those they (can) trust. They take more and more voting and programming core power. China’s government can one day decide to pressure miners in the country to their use. The government’s intervention in 2013 suggests that Bitcoin is not too small to escape notice. China will remain dominant in Bitcoin, blockchain and crypto for good.

https://bitcoinmagazine.com/articles/why-the-great-firewall-of-china-is-causing-serious-issues-for-bitcoin-miners-1456508966

That's pretty creepy. Thankfully, they're not even close to being able to do that yet.

You need to read this article, it will help you understand what's going on: http://www.nytimes.com/2016/07/03/business/dealbook/bitcoin-china.html?_r=0

I disagree. The Chinese government is building up a Social Credit Rating System to determine how much trust can be give to every citizen. Imagine you took a ride on the train without a ticket? Cheated on a test in university? Cursed someone online? This system remembers everything and will give scores. These scores will determine whether you should be granted for a loan, or be allowed to have a new job, or to be suitables for booking hotel-room in mainland China or elasewhere worldwide.

Xinhuanet has already reported that the plan for the system "focuses on credit in four areas, including administrative affairs, commercial activities, social behavior, and the judicial system.

This social credit rating system will start operation in 2020. According to the Chinese government, its goal is to allow those trustful people to walk everywhere on earth, and decline the truthless from walking even one step.

This Social Credit Rating System can and will most probably use BTC.

https://en.wikipedia.org/wiki/Social_Credit_System

Bitcoin is an innovative revolutionary technology created as payment system. And money has no country. There were no reason to prevent western societies to use it. If there are more chinese than others in the world this is an indication how many obstacles they face or they don't trust to use their national currency for transactions especially out of their country borders.

Circle used Bitcoin to jump start their business and now that they gathered a good market share, they turn their backs on the Bitcoin

community. We do not need these ass wipes, because Bitcoin was developed as a "stand-alone" technology for person to person tx's, not for

companies to suck it dry, with high fees. 

The Chinese are industrious people who have a knack for making money out of everything they touch.  They have realized they could use their cheaper manufacturing facilities to churn out cheap Bitcoin mining tech allowing them to become the Bitcoin capital of the world. Then the Chinese exchanges picked up steam getting fed a lot of coins from the regional production and kept the ball rolling. It has nothing to do with politics or finances because this is the result of better economic climate in the country towards crypto currencies and trading. China have always copied the Western industry and now they have struck gold with Bitcoin because they can out-mine and undercut us.

Bitcoin was designed to give people financial freedom from trusted third parties. That's exactly what the Chinese are using it for regardless of whether they use it for speculation or purchases. Western intrinsic racial and national origin prejudice makes them believe there's something wrong with the Chinese using Bitcoin more than they do. That thinking is wrong on many levels.

Is BTC becoing more-and-more China's blockchain playground? What is their bigger understandings for their Commusint politics & finance in this Global digital era?

Anyone that reviewed their original business model or prospectus would understand that Circle never really was going to be a crypto company. They were always poised to copy the most sellable features of crypto but remain tied to the traditional banking model.

Bitcoin's exchange rate is created almost entirely from the foreign exchange market (Forex) where currency "pairs" are traded back and forth for a quick profit. Much of the current Bitcoin pair trading is happening in the Chinese market. The Chinese traders would be less likely to care about the implications of an American business pulling out of Bitcoin. Also, Forex and day traders are a money savvy group of people that read money news constantly and would have already understood the above long before it happened. 

Marketcap is still tiny if you put it in context with other businesses, currencies etc. But yeah I guess that it's now big enough that a single article can't do much, but ironically the price has been rising again in past hours and we are sitting at 770+. We are only a few dollars away to challenge again the 778 peak of the other day which I think we are going to pass soon.

Sorry but bitcoin has failed to live up to the/my 2013-14 expectations (when i first learnt and used BTC).

Cryptocurrency is now a big industry and can now stand on its own. In the future it may be more stable than stocks exchange in the wall street.

Soon the currency used in stocks exchange will no longer be US dollar but bitcoin.

If you notice forex has already bitcoin in it and it is called bitforex.

Marketcap is large now, one news article doesn't move the price as easily as it used to.