Bitcoin Forum

Don't you think if the news from China had come earlier like 5 years ago, it would have crashed the emergence of cryptos. I think that was the news that saw bitcoin heading downwards.
Whats your view?

I definitely not involved in crypto world 5 years ago, any link to source of the news?
China government have their own reasons to do whatever they want, including ban exchanges or maybe bitcoin in the future without tell the truth.
The latest crash of bitcoin price just another clue for everyone about how volatile bitcoin if facing uncertain regulation in big country like China which most biggest mining pools located in there.

I was around here just around last quarter last year so also don't know much long the Chinese have been trying to play this game. I'd definitely want them out of this, they are contributing to most of the uncertainties with their announcements. I think bitcoin would survive without them, of course assuming that the mines stay in place. Still, if it ever comes to that, I'm still optimistic that some other country would become a large mining site. Maybe Norway? They don't have cheap parts but they do have cheap electricity.

Very similar news came out of China in late 2013 when they banned bitcoin and this was one of many reasons why bitcoin took a huge dump from over 1k to around $200. Bitcoin and crypto's survived it then which was 4 years ago so I think it would have survived had it of been a year premature.

The above is true ^.

At the time, bitcoin's net worth was much more centralized in china and relied more on china as a proportion of its market cap. Now with bitcoin being more decentralized throughout countries other than china, and relying less on china for value, the same announcement is having less of an effect.

There could be something said of the centralization vs decentralization debate, there.

i think china want crypto can control price
i think china goverment can create new crypto with flat price, or can control price, china not like crypto because price can't control
next after ready create new crypto and this name china bitcoin, can open market with pair bitcoin too

I agree with your opinion, because china may want to control and control the price of Cryptocoin. After they make the bitcoin price down they will make a massive purchase to dominate the market and bitcoin prices. they will resell the bitcoin as the price begins to rise to gain the most profit. Then they make another lie so they can do the same thing.

my "view" is that you need to do a quick google search to find your answers :)

the "China news" aka FUD has been around for a very long time. i can not remember anything from 5 years ago although there may be more but i can remember 1 from 4 years ago where the media was filled with the news that China banned bitcoin and not only nothing happened but also bitcoin price went up to the first ATH of that time!

you see, people usually forget that they are talking about bitcoin which is decentralized and does not belong to a country or a government or any other entity like that. none of them can do anything to bitcoin other than causing temporary swings in the price.

The impact china to btc  and create a lot of bad things to the BTC price drops. It is not so important don't bad effect to  it, and many traders know it means that it grows stronger.

Five years ago there was no chinese involvement in crypto. The rise of asics and their markets only happened in 2013. Funnily enough they mangled that rally and then put out a documentary outlining the risks of bitcoin without mentioning they themselves were the risk.

If the news had come 5 years ago, although according to historical account it came 4 years ago, it did came and the effect was massive but the price was able to recover after a long period of time. But this time when the population has increased largely, its safe to say that acts as a buffer against the news and thats why the fallout was still within acceptable range.

In the future when the expectant population of people who believe in bitcoin has increased and multi-nationals use the currency as well as countries adopting it, effects of news like this will only be marginal or not affect it at all. Till then, we still have to live with this and hope to get out this recession pretty soon.

Yeah 5 years ago was too early for them to care. Probably around the MtGox era, if they had cracked down on mining farms and exchanges too at the same time as MtGox (the biggest and pretty much only exchange) crashed, it would have been a bigger disaster. But the thing is, they don't care until it's too late, and now it's too late for them to stop bitcoin, it's simply out there, it's impossible. Pandora's box has been opened and no amount of governments can close it back.

China is taking more measures to prevent the use of crypto currency. After the ICO ban, the government of the country ordered banks to freeze accounts related to crypto-exchange exchanges and imposed a ban on Internet access to everything that is somehow connected with the crypto-currency trade. After that, once the world's largest Chinese crypto-exchange exchanges lost most of the turnover and were forced to change their jurisdiction, and the miners also began to look for opportunities to move.

Thus, the PRC was the strictest regulator of the Crypto-currency. This is a strange turn of events, because in 2017, Chinese bitcoin miners left more than 70% of all world's miners, and the popularization of crypto-currency in China passed at a speed much ahead of other countries.

Most likely, the strict measures of the Chinese government are connected with the country's orientation toward combating capital outflow and corruption.
 ::)

The funny thing about the news in China is that it never gets old and it still doing the sam old trick to the people which is creating FUD in the market. I don't even know why we keep falling and falling from the same trick over and over again. Also even if China really bans cryptocurrency it is not the end o f us or their citizens as one way or another they will find a way to use it legally. I think if the news of China came in 5 years early we wouldn't be much affected by now.

Obviously they can do what they want as they already knew that they are the biggest contributor of crypto. Absolutely their decision of banning crypto have a very huge effect on crypto market,  but not exactly they think that it could fully disappear these technology. We know already that not only china is supporting crypto and much more biggest country behind this thing that makes us no worries even it goes down due to China's judgement.

I think it is not, Chinese is a great investor of cryptocurrency though those Chinese have no control to their government, they are just citizens that need to follow the rules of the country.
Bitcoin have got so much attention from the people all over the world and now the government and banks are having their way to stop the commotion before they get too late of having their taxes cut to 50%. but they don't need to do this but to regulate taxes . just for me.

I think I’ve heard numerous news about China in the past and you no longer get suprised when their government comes up with something new and declares something that is related negatively towards bitcoin. 5 years ago, there must have been not much crypto involvment within their country so there wouldn’t be that much of an impact if that were the case. China always create regulations like this so there wouldn’t be much of a difference, I guess.

The fluctuation of bitcoin price is due to chinese New year as like in past year of January and February.
Chinese also play a major role in the growth of Crypto currency.In Asia ,there are 30-45 percentage of investors are their.Before this chinese new year their may be dip in the price of bitcoin.

I still claim that the influence of China on Bitcoin is exaggerated and users themselves are to blame for that. They give too much importance to the news from China and then react on that news creating mess on the market.
Still, five years ago the influence wouldn't be so big as now exactly because Bitcoin wasn't so developed and popular then.

That's my thought as well. I remember how quite some people were predicting Bitcoin to suffer a major blow after the Chinese exchanges were forced to shut down, but it didn't do anything long term wise. Instead, the market became stronger than it has ever been. It basically goes up for other types of fud as well, if people themselves didn't take fake news serious anymore, the market would become a whole lot more resistant to manipulators pumping paid articles into the net, and have people shill for them in an attempt to get the price to tank. The sooner people get over all this fud, or ignore all this completely, the stronger this market becomes, but that a bit too much to expect from a market with a high influx of constantly entering noobs.

Its not just china always to be honest! Many times different things can come across the bitcoin to destroy it, such as American stocks exchange fall. When federal bank declared that they are going to incur 2-3% of interest rate on the investment then the market was shaken badly and we saw the dow's fall. This is what happen when the powerful countries sneeze! The whole world goes crazy and this time it was crypto which fallen against the power of America but not the china really. Chinese lunar year and everything related to FUD was just the added stuff which made the whole situation worst. But surely few years back like 5 years, china was mining legend and I think they would never have thought of banning it because they did not know the power and value of the bitcoin like the way it has today. It was worth nothing thats why no body really cared about it.

The market would not collapse, but its development has greatly slowed down. I would not be surprised if China soon allowed ICO, and then legalized the stock exchanges like in Korea.

Does it really hurt that bad?

The FUD from China. It is somehow old and never even tried to believe it.
Why is it that too many people panic just because of that.
Well you can see here who are the real supporters.

We all want money and aiming for a better one. But I would not go to the extent to panic and not trust the technology.
This FUD's will never work if people would just try to look at their environment. The world is changing and it is going to a better and faster one. We lazy people want faster transactions and it is now being offered and yet we panic because crypto currencies will be zero?

Hard to believe that now.

Definitely china had the lion's share in cryptos especially bitcoin during that time being dominant in bitcoin mining.Chinese played  in manipulating bitcoin market as they wished.If China had taken such steps during that time,then for sure crypto market would have collapsed.

Chinese people are very particular in different businesses, they are people called business minded people, they can easilly adjust and adopt ideas on how to go with the flow of business future impact, so, when price of cryptocurrency going down chinese people are busy on buying because they knew already that price will coming back to the higher level.

Chinese people are famous for their craft and their ever-frugal lifestyle. For those who buy cheap goods it does not matter and they love to save. It keeps them in a state of urgency and faces financial problems, because they have savings. Chinese people are also famous for the development of technology and its industry. Many goods are manufactured by chinese people and they definitely get a lot of profit because of that. Well, though we often hear about how bad their products are. I think their influence is also very big in this crypto world. Especially with their industry or mining companies are so big. I think they can make a lot of Bitcoin every day.

The characteristics of chinese people is very different among others. They are good in businesses strategies especially in thier fields of technology they are very observants and can easily adopt the idea. One of the reason why china until now is very progressive country  because they adopt the imitation processes.like what they did in cryptocurrency flatforms they block  all transaction of bitcoin coming to thier country because they want to make thier own coins.

China, home to the world’s biggest community of Bitcoin miners, is cracking down on cryptocurrency activity. ... First it banned initial coin offerings, or ICOs  the equivalent of initial public offerings for new virtual currencies.

unhealth market if chinese still dominant at crypto market.other community must show their interest to prevent fud from anywhere.many people and institution want bitcoin and cryto died

china is one of the largest and biggest country in the universe. it comprises of different states and has a distinct and unconquerable culture. its government has a good agenda for its people. so, i guess chinese propaganda is a good one because it is not selfish. in terms of leadership, their leaders are good and idealistic. they are thinking of how to improve and to have peace and order in their country.

and chinese government only want to prove one thing,that they are big country and can do anything what ever they want that can affect the crypto market,they are capable to tell some story in every part of the world,in every possible way.

even though China is having ban still bitcoin is trading exchange and mining all happening in China so no government can ban bitcoin it proves in consideration of China equation

i think 1 billion people can change everything they touch, so if they will  start popularisation of bitcoin - it will jump into everybodies life

I think that China entering the market brought a lot of money with it, which was mirrored by the data provided by their exchanges, even though some of it was being faked. After the gov crackdown the data started to look real, and at that time it was still far above what the Western exchanges could show. So, in 2013 and 14, Mt.Gox wasn't the only culprit behind the rally to 1000 USD.
You should also note that most Chinese had nothing to do with the propaganda and wanted to trade some coins or mine. The group that did all the manipulation with fake news had good connections with the government. Most likely had someone inside because they were leaking information that was being discussed behind closed doors. Last but not least it's all over, all China can do now is lift the bans and follow the rest of the world. The days when their FUD had any value in the crypto world are long gone.

On my opinion media, television and all those in government hands are huge tool of manipulation with people thoughts and views.

 China’s government has their own way of thinking. To base or believe anything they say should be unlikely. Most is propaganda

What I've seen for China nowadays was really unbelieveble, I think they're trying to be a good economy country, not just in the crypto world but in the real life also they kinda want to hold them all,  I was thought that Japan will become a super power but I think China would go first.

No one cares about China and their news. If they do not like Bitcoin, that is their problem. But I believe would have been very beneficial for them if they accepted it. As a mater of fact, there are many unemployed people in there. It does not matter if they do not have big capital. But with a small one, they can invest in bitcoin and bit by bit, they can make money. The only thing that the government cares about is itself.

I don't think so, although I think I understand why you are saying that. China had a huge influence on the way bitcoin start spreading. The first real adoption came from them, and that drove the price a lot, resulting in more and more interest. If they had made the ban years ago it would probably stall its evolution, specially in the mining industry, but it would hardly stop BTC from growing. Let's not forget that BTC came from zero, so the interest in the coin started growing gradually, and no matter what countries do, there will be always someone that will see potential in it's concept. I think that is also the reason why bitcoin will never go to zero, because there will always be someone that will buy it if it's price goes down.

sometimes we have to be heartened by the news, china has always had a bad response to crypto, so naturally if they spread the news that it is cornering and dropping the world of crypto, let's show that here we are still strong and endure and always optimistic with this cryptocurrency, here's my opinion on this

What propaganda do you have in mind? China isn't fighting cryptocurrencies or trying to discourage people from using them. They used their ban hammer and that's all there is to say. The only thing that was close to propaganda was the FUD when they were saying that they are going to ban exchanges and didn't do it for 2 years. That was a really bad move that made the bear market last so long in 2015.

China is a great power country, which is significant at the world stage...I believe they have a great influence on the bitcoin price and opinion of people about crypto

This is an old topic and this has already been discussed by some members here.
there is nothing to be worried about right now, China is not a threat to cryptocurency. China holds 20% of world trade volume, and will increase in the future.

American movie producers targets Chinese audinces because it can greatly affect the profit of the projects. Although foreign movies are required to have chinese actors cast in the movie before the government allows the movie to be shown in their country.

Point is, China's population market can greatly contribute or even dictate a project's success.

perhaps China is one of the best imitator countries in the world and its residents are also required to prioritize the use of domestic products. Maybe their motto is 'if I can make it, why should I buy it'. As with cryptocurrency especially bitcoin, which could be considered to be threatening their currency. Finally, a ban is done, and it's enough to shake the market. Maybe again, the ban is done so that people prefer to use cryptocurrency he made.

I also think so, somehow Chinese always do the same thing to bitcoin, it happens very often, sometimes it seems to me that China is just wanting to take advantage of itself from the panic they spread

Naturally, in China there is a rejection of bitcoin transactions because they consider illegal transaction bitcoin used for crime transactions and pay hackers

There are so many people in China!

BTC users are also very many, but BTC is forbidden in China!

If BTC is legal in China, the development of BTC and cryptocurrency will threaten their financial order!

No, I don’t think this news is authentic. Why China will not be part of bitcoins and the crypto world as they better know that for becoming super power, they have to take out the mark over international economics. And in future, everything would just be dealt and measured in bitcoins and crypto so they must not be ignoring and banning bitcoins if they have such wish to become.

it is certain that China will do such a thing because they are planning to make a new digital currency that will be specially used in their own country which ultimately does everything against other currencies that are planning to rise in the country.

True that, nowadays there is no point in that "China" or "USA", whales from lot of different countries has a huge influence and they're doing that not for national interests but for profits

i also had a headache reading thread that cryptoworls in china are considered illegal. maybe this is china plan that wants to feel free by creating their own digital currency so they can develop it themselves. we know that china is a big industrial country

There are few companies in China who prefer to give a part of the salerie3s to their employees. But again according to the question and some other facts, China is against Bitcoin despite being the top spot for mining Bitcoin. This really shows two faces of China which might be due to political purposes or may be they do not want to loose the hard earned money by investing in Bitcoin.

will i thinks this feed news coming from china have no relevant in the situation 5 years ago happen,because the situation now that  this chinese government they only want to make there own digital currency system on there own thats why they do not allowed,foreign ICO project development  to establish a bussiness in means of cryptocurrency to there homeland because they want to create there own,and not to crashed the emergence of cryptocurrency system.

China is a big investor boasting a huge fraction of the world's population within it's borders. But whether not China joins in the crypto currency world, crypto currencies will still fly and will definitely still be strong. Although it won't hurt if China actually joins in. But then again, other countries will fill the void that China left. Then again, this news is from last year so i don't think it is still relevant.

it is still like this incident from some time back china opened the cap of access to his country against crypto whether this is a mere politics or not. Indeed China is the first country to successfully develop a crypto that can spread to other countries in the world until finally they plan to make their own crypto.

Chinese government never want something in their country which influence their own currency value in the international market. Because of Chinese government bitcoin is ban in many country. According to Chinese government and politician Bitcoin negatively affect their country economic growth and also affect their central bank profit. Chinese government want their full control on their country currency value but Bitcoin affects that thing in many way. So these are some reason behind Chinese propaganda.

Yes, when icos on china has announced earlier then there is no way for bitcoins today to become very powerful like the price today is rising into a very huge amount.