Will the Chinese turn into Bitcoin after the this stock market crisis? - page 2.

Amph

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Quote from: gkv9 on July 09, 2015, 05:36:07 AM

Quote from: Amph on July 09, 2015, 04:28:18 AM

i don't believe so, they were in a huge bubble, and now it's crashed, they were at double the value since their bubble started, so there isn't exactly a loss

also they already control 60% of the mining activity, so everyone who is interested in bitcoin in china, has already bitcoin in his pockets

Are Chinese actually the most important part of Bitcoins???
I mean I have seen many people talking about Chinese mostly whenever it comes to Bitcoins...
So, does that mean that if they decide to get out of this, then Bitcoin will become a total mess for everyone who are possessing them???

yeah they seems very interested in the profit to be made out of bitcoin not in bitcoin itself, i'm sure they will not leave as long as there is profit

if we imagines a huge price drop ,that will force 60% of chinese to go out, then everyone else will leave bitcoin as well, at least for the mining until the diff can match the price as usual

neoneros

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I can draw your avatar!

The Chinese have the biggest part at the moment in mining. If they choose to stop, nothing will get messy, it might take some time before the mining power is up to par again and the difficulty is reset to the new amount of hashing power available. No need to worry at all.

gkv9

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!!! RiSe aBovE ThE StoRm !!!

Quote from: Amph on July 09, 2015, 04:28:18 AM

i don't believe so, they were in a huge bubble, and now it's crashed, they were at double the value since their bubble started, so there isn't exactly a loss

also they already control 60% of the mining activity, so everyone who is interested in bitcoin in china, has already bitcoin in his pockets

Are Chinese actually the most important part of Bitcoins???
I mean I have seen many people talking about Chinese mostly whenever it comes to Bitcoins...
So, does that mean that if they decide to get out of this, then Bitcoin will become a total mess for everyone who are possessing them???

Amph

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i don't believe so, they were in a huge bubble, and now it's crashed, they were at double the value since their bubble started, so there isn't exactly a loss

also they already control 60% of the mining activity, so everyone who is interested in bitcoin in china, has already bitcoin in his pockets

gogxmagog

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Ad maiora!

The stock market in China is so inflated that if anyone got in early enough and got out now they'd still be ok. As it drops the more they'll jump out but there's still a long way down to go.
They will remain Chinese though. And if anything it looks like they'll go litecoin Tongue

gkv9

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!!! RiSe aBovE ThE StoRm !!!

The title should be "Will the chinese turn into Bitcoins after the this stock market crisis?" so I FTFY...
And no, there seems that you are trying to clash their crisis with Greece, but there doesn't seem any possibility or reasons for Chinese to turn back to Bitcoins, I guess they are already in Bitcoins but playing safely rather than those old-school pump-dump games...

EternalWingsofGod

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It's hard to estimate the demand however it is possible to see some of the equity trickle into Bitcoin by individuals as they stay the hell out of the present market.

An FT article summarizes the Chinese pattern
“According to my friends who go to casinos and watch the Chinese gamble, they tend to jump on a ‘trend’ such as red coming up on the roulette table repeatedly — never mind that the odds are only ever 50-50. Red is seen as hot and therefore the way to bet. That carries over into trading styles. …”
http://www.marketwatch.com/story/chinas-stock-market-crash-is-just-beginning-2015-07-08?page=2

Herbert2020

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i think it is possible but not all the way. chinese has been in bitcoin market for some time now, and i think it is safe to assume that now that the stock market is at a bad stage some of the investors might turn to bitcoin as an investment.
but most probably the large amount of them would wait for a better opportunity to go back in the stock market again at lower prices.

viboracecata

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The answer is no, all the money out of stock market are waiting for the low price and run into it again

Argwai96

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With all the attention on Greece the Chinese stock market crash has gone by pretty silent.

The Shanghai Composite dropped 3% at the opening bell, but quickly reversed course and jumped into positive territory. The index couldn't hold onto the upward momentum, however, and was flat after roughly an hour and half of trading.

The smaller Shenzhen Composite and Hong Kong's Hang Seng fared better, gaining around 2% after a slow start.

Since June 12, the Shanghai Composite has lost an unnerving 32%. The Shenzhen market, which has more tech companies and is often compared to America's Nasdaq index, is down more than 40% over the same period.

http://money.cnn.com/2015/07/08/investing/china-stock-market-crash/index.html

Will the Chinese turn into bitcoin after this?

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