Bitcoin Forum

Freaking China.

Ok, I'll be brief and to the point. 

I spoke to a good friend of mine Xui, who is a Hedge Fund manager at one of the largest firms in mainland China (Hong Kong is NOT China people.) and he confirmed that there is NO current legislation or even PROPOSAL to ban mining.  None.

The bulk of this downtrend has been of the coat tails of China declaring that it is going to regulate ICOs (This is gonna make the Chinese market much stronger and when they are back in the game full swing, watch the prices MOON.)  and exchanges.

China is not stupid, they are also not the USA.  They have a vastly different approach to government and legislation. 

Back to my point.  The FUD over China banning mining and network is false. 

You are going to hear about this more on Monday, but to my dear friends on here, get your trades in over the weekend. 

Picks of the day:
NEO @ $17.10 or better
ARK @ $2.57 or better
OMG @ $8.09 or better
WAVES @ $3.10 or better

*All long terms HODLS. 
*I have a position in all

Ofcourse you have.

don't know man, it was so obvious to me that it's a fud. One question - what would we hear on Monday? Official statement?

i believe OP is making most of it up and there is no friend (although i am not saying he is wrong, he is actually correct).

and the thing about Monday is that many believe that market price goes down on weekends and it recovers with the start of the week. an since bitcoin has already started down today it would be a safe assumption.

I still don't know whether or not to believe anything you say ... But, this is essentially what I thought was going on from day one. ICO regulation was never a "bad thing" as most of them currently are scams (I have been scammed by one). All the other stuff is simply misinformation or down right lies to dump the market temporarily -- and guess what? It worked like a charm.

I currently hold some of each of the coins you listed and also intend to pick up some more WAVES & ARK (and maybe a few others) this weekend.

They have played all their scenerios. They don't have any options. What can they do more?

Hey guys -

Time will tell if I can be "trusted"  ;)


There will be an article on Coindesk about the FUD BS re:China on Monday that will help flip the market trends.  We will see more growth early Oct once the Chinese FUD and "Ghost Month" pass.

Is it too odd to think that someone has a friend in China?  Even the Chinese hedge fund managers have friends, believe it or not.

Until then!

you're correct

but forgot monaco

Sad to hear that. hope China stop all china miner in their country. make dif decrease so we can mine bitcoin easier

Confirm, only FUD...

https://twitter.com/SatoshiLite/status/911067464796053506

I've been saying this all along, Chinas crypto scene will come out of this stronger than ever.
The only mistake I did is that I underestimated how the sheep will react. Would have made huge gains if I did and I know I will next time.

I don't believe the mining ban will happen. I also don't believe they need legislation to do it, they can find existing rules or just express their displeasure.

Only idiots would carry on.

I also don't see how some guy who works in finance has the slightest clue about the internal workings of the chinese government.

So did you buy NEO at $50?

Brucey boy you have me intrigued! I hope you're genuine and prove the haters wrong.

Keep up the posting, it's certainly interesting :D

I hope they won't ban otc trading.

what can prove your statement is indeed true what you say
in some news in china media they will close all exchange related to virtual currency as quoted in some media

Even if true, I find it highly doubtful that a random hedge fund trader in Hong Kong is privy to this kind of information and that shares it with a newbie acct on here. Just saying.

Imo solid coin picks, though.

This is what i think about. I dont believe if china ban mining. They got a lot of money from selling miner. They got a lot of profit. How come the largerst country which p4oduce miner will ban mining. They are not fool..

Cmon..you may hate ico coin but do not hate minrd coin..

I suppose we'll know for sure on Monday if he's right or not.  ;)

That was what some people said about the exchanges been closed, that is just a FUD, I'm not say yoor source is not solid but sometimes you need to prepare for the reality like this, it will likely affect the market in short term but the space will surely evolve

When China banned Facebook or google did it affect their stock? Would be interesting to know

Thanks for this. I also think that regulating ICO is good for all because it gives confidence to all investors specially for those new to crypto currency.

However i am not sure if CHINA will ban mining and exchanges from their country. you can still buy BTC in china thru OTC.

what can we do now is patiently wait for china government actions.

here's another FUD. CHINA will block all VPN by 2018
https://www.theguardian.com/world/2017/jul/11/china-moves-to-block-internet-vpns-from-2018
will this affect CHINA miners?

so what, there is all kinds of rumor these days, this is just the short side and long side are playing games, i suggest you guys better to hold the fiat and wait for the chance to buy on the bottom someday

China is unpredictable, I wouldn't trust anything from media or even individual at this moment until their madness is over

Personally, I think that regulation of ICO's in China is a really good thing. Just look at how many Chinese guys are making new accounts and creating ICO's that lead to absolutely nothing. Hopefully this cuts down on some of this. This whole ICO trend is getting way out of hand in my opinion

Its intresting to see that China is effecting the Bitcoin prices throughout the world.
Let wait and see what MONDAY has to offer

on the bright side if they don't make a step back...this will end on October the 30th ;)
then its time to watch BTC start a new run

Until then... we will just have to wait if what you're saying is true. I even think this news about China and all the banning of ICO's or exchanges are just temporary. China is smart and I think they have a big plan about the cryptoworld, for sure they will come up with something in a few months or weeks  right after the "ghost month".

China's gov not stupid. But they want to control so money flow and it is not bad, only business. All gov's want it but China says it straight.

From what? that didn't affect the china miners. You think the only tool to pass the banned ip or similar with it just through the VPN? That doesn't make sense at all. I understand how people are feeling worried due to the FUD to the miners in china. But that was senseless. Venezuela should be a good example how the people still mining it although they should be arrested if got caught  by the police.

I think it grew even more that china is getting out its hands from such companies.  ;D Kind of insulated the companies from someone or something whose mind you know are kind of mischievous. Bitcoin is going to grow whether or not china is supporting it. It does not need china after all.

Yes, I agree with you but many people from China that the government is forming rules and regulation for cryptocurrency in order to protect their investors. We have wait and see what was their official announcement about Bitcoin and CryptoCurrency.

These are all rumours and fake leaks to manipulate the price of bitcoin and altcoins. I dont believe to anyone but only the official announcement regarding china.

if there a legit news that will bring this out I guess that's the time to believe from this rumors but if there's none we should not take it seriously
as it is another way to make people to panic and connect this concerned with bitcoin value.

Same here China love to manipulate the price of bitcoin ::)

I was thinking this was the case too! But what about all the exchanges that have confirmed they will shut down? That confirms that all the fud is true. Unless china decides to reverse that decision, it leads me to believe that the rumors are true.

In my opinion, those at the upper echelons of finance and banking are basically afraid of what Cryptocurrencies can bring to the world and they are using I think China in their goal to destroy Crypto. Maybe by manipuulating China in manipulating the ICO's. Come think of it, once there will be a big crash, those in the upper classes will now be able to make more money bby buying lots of cryptocurrencies at cutthroat prices.

Are dumb are you even aware of what you are saying the difficulty of mining will reduce are you even aware if china decided to ban mining how much time and fees it will take for transactions to process. Other countries will take advantage of this but it will have a negative effect on btc for months.
Even if that happens us mining won't make a different they have the most efficient miners and have speeds at 1k ph/s we will never get that.

It looks very interesting with truth, but I will see till to the October 30th to find real answer. I don't think they will ban on VPN's because people use for different purposes not just for Bitcoin.

China is not stupid. They see what is happening in crypto world. They also want their part of a cake. In future this regulation can only bring good things, but for now we are all sad because of losing our % of profit. Just imagine how many people lose their money because of scam ICOs?! Regulations are necessary.

Anyone have any idea how much OTC trading was actually going on? Not sure this kind of vol is public...

I have been suspecting that the reality about China regulatory agency banning bitcoin and others altcoins mining to be fake.  Chinese economy is a big economy and I think if they want to growth they economy and make it great which I no they want then the right thing to do now is to allow cryptocurrency be as many traders see the FUD as reality. I am happy for op confirmation of what I have been feeling concerning this whole games.

China maybe wants to collect all of bitcoin and altcoin by this rumor. chinese people wants to Manipulated the all of cryptocurrency world.

Its mainly because of Xi wanting to stay in government, he has to appease his communist supporters. After the election, don't be surprised if all the Chinese exchanges come back up... it's not guaranteed but highly likely.

I just have the feeling that china is making fake news to trigger panic, I am sure china wants to buy back bitcoin at a very low price, I do not believe if they really ban bitcoin, because the price drops to $ 2k, but in a short time the price back to $ 4k, this looks like fake news

But what about Russia? The United States? What are they doing so that they could prevent the Chinese from getting the big share of Bitcoin hence the capability to control Cryptocurrency? That is why I am still waiting for that one coin that will shatter all links with Bitcoin and can exist independently of it, unaffected by the almost centralization that is going on.

I the beginning I thought so. The people love the panic and the collapse of a large part of the market!

That's the difference between a regulated market and an unregulated market like crypto. Because we are free to invest in what we want news will manipulate the market whether it's true or not. Governments will try to manipulate markets in order to get a piece of the cake, but the true winners are we that where in it from the start and HODLing till we go to the moon

The patient man always wins in the world of crypto, I've experienced some losses in the crypto world, but as you say "the holder is the winner in the world of crypto"

To get low price and to control the citizens of the central Chinese government.

They are trying to purchase Bitcoins for a cheap price. The mining of the coins is expensive as it is.

There is no China impact,good lesson for long time investment.Big Govts. cant stop crypto coins

That is the thing that I always want to believe in. That no matter what the Big players pull theirselves into, they will never beat Cryptocurrencies. Also many crypto enthusiasts know this too since they should be aware why bitcoin was created in the first place.

Even i agree to this. There is no official announcement or even government related source have made any claim that China is banning exchanges or mining. This rumor gained grounds with BTCC owner claiming to suspend their exchange working by end of September. Many experts are calling that to be a manipulative move solely done for his own profits to buy in more cryptos at better price. Market has been highly volatile recently. He just took the benefit off panic sellers.

They only winner when the price of Bitcoin still cheap and they have a base price in that time. If you are holder Bitcoin when its price is $4000, today you have some loss when you are holding your Bitcoin haha.

You had me at Zencash.

I went through your posts and like a lot of the general advice you’ve been giving:
Diversify, find a good team, hold long term; all proven to work.

I’m a big believer in Zencash. They have a great team, an excellent governance model, and when Secure Nodes launch next month will be unique in the crypto space. Charles Hoskinson and his IOHK team have been helping in an unofficial capacity which tells me there’s more here than meets the eye.

I like Waves also, but need to do more research on the team.

Anyway, you do realize you made a do-or-die statement when you said:
“There will be an article on Coindesk about the FUD BS re:China on Monday that will help flip the market trends”

If this happens tomorrow you will gain a big following, if not, most will ignore anything else you have to say. For various reasons I hope your statement comes to pass.

After ZenCash got their public approval from Ethereum's Byzantine which went live this week, you can be sure that they are going to get a lot more recognition from the coming weeks. My only issue is that I still feel it is overpriced at almost $7 now. I have to wait at least for 4.50 before trying to get in on ZCash. Oh and yes I'm also waiting for tomorrow's FUD to see if this thread is true.

China does not prohibit mining only ico projects that are banned because there are some alesan until the decision is made. so what's the right news?

This guy is the worst fucking liar I've ever seen. Anyone who is here long enough knows China's banning minnig operations news are highly speculative lies. He acts like he discovered a secret, LOL!

i hope we will see tomorrow a last FUD or lie from BITMAIN like:

"we will stop mining by 30 septembre" so we can grab more coins at cheap prices!!!

Can't wait for Monday to come. It's been a while since we saw stable green market

That is what i keep on telling to my friends. But they do not want to believe me.  They went on and kept dumping not just the coins on the list but all they have and even btc because they said it wont be long till other governments ban all crypto currencies. Cant wait to rub it in their faces when the prices rise up. Too bad i only have a strong heart and belief with the coins but no funds to buy myself a lot of them. Sad.

Because of the way Chinese government works, these back and forths are perfectly possible. I don't discard a ban on chinese hosted mining, with (along with the exchange ban) a back pedaling that will consist mostly on issuing licenses and legislation where the Chinese State can get their cut. So what im saying is, I predict there will be a ban, and then both exchanges and mining will come back, all heavily monitored by Chinese government and all under strict licenses and paying a fee on everything.

All they want is to milk Bitcoin and make money doing so, I don't think the Chinese are strategically stupid enough to ostracize themselves into irrelevancy in the most relevant active that any nation should be aspiring to accumulate above gold for the first time in history.

Remember, bans can be lifted. The Chinese government has so far enforced bans, which it later lifts, when it comes to Bitcoin and crypto currency. The bans are usually just to keep things stable while they do their work.

I too do not see the connection between a hedge fund manager and government news waiting for release. But that is exactly how connected people work, to be honest.

I spoke yesterday with Chang, the guy who is in charge of writing the legislation on crypto. It's all fine, don't worry guys!

...

Oh come on....

But horrible things happen to some successful ICO months ago, such as STOX, OAX, MTH, AVT. maybe china people have sold all their coins so the price drop is very significant

It seems when there aren't any news from China, everything goes up  :) we just need them to be quiet for a month or two, and most crypto will reach their previous ATH

Well China might not be banning mining, but they are banning ICO's - so all those tips of yours for China based ICOs are poor.

How can anyone recommend purchasing a Chinese based ICO like Neo with a straight face?

I think it is 7pm now in China (mainland). Was really hoping to see some kind of news update but I guess I should have just checked now instead of every hour since 10am haha. Maybe no news is good news, is what OP was referring to? Anyway, trend looks to be going stable for now. Or China is waiting for Tuesday to troll people today.

Because there if a difference between banning ICOs once and for all and temporarely bunning ICOs to regulate them. It all comes down to how much risk you are willing to take for a possibly good return.

Well, I just warned people to not buy NEO a couple post above, but im looking at the charts right now and it seems like the price is going up pretty nicely. Who knows if it will test $40 again, without the help of the Chinese market?

And who knows if a ton of Chinese people haven't found workarounds for the ban?

We may be overplaying the importance of the Chinese ban on Chinese projects. If anyone has enough money to buy crypto and knows how to do it, he should know how get an VPN and circumvent any bans and keep buying anything they want, so let's not get ahead of ourselves here because Chinese projects may still rise under the ban, but im rather cautious there so im not going to buy for the time being.

But, are chinese exchanges going to shut down on Sept 30? Or not?

If yes, don't you think this can make all go down? (being the response justified or not).

I heard somewhere that whales are going to take advantage of this, and near Saturday they are going to dump ultra-hard to cause panic and re-buy later.

much Chinese money should already be out of those exchanges, while it was news of two weekends ago that the larger ones have been allowed to operate till Oct 31 https://news.bitcoin.com/bitcoin-markets-rebound-as-more-chinese-exchanges-plan-to-close-operations/ so, i think the exchanges FUD has already been internalized by the market, at least in good part, but there may still be major reactions, whether positive or negative, to other news and announcements to come

You can imagine the effect any positive outcome would be!

As soon there is a sign of china coming back in trading...the market will pump!

look at NEO price. 24$. If you dont believe China gov and FUD you will be rich now. 17 -> 24$ can u believe that and i think it will reach 30$ soon

There is nothing really bad with mining, So China is not a fool to ban mining since nothing is wrong with it. The news are obviously just FUD and fake news, and add the Ignorant CEO that talks like LaVar Ball. And remember that ICO'S are just temporarily banned, not permanently. They are just finding ways to regulate it because the China Central Bank said that it's somehow disturbing the natural order of "their economy". So it was all just exaggeration and FUDs.

All you can say is ban, ban, ban.
The only ban is they are not allowed to do a ICO and as for neo they are complying with the regulation and they can continue to operate. LMAO

is that hearsay?

[/quote]

I think it will all be fully cleared up after China's 5-yearly party congress is over in later October:

https://cointelegraph.com/news/chinese-ico-ban-may-end-after-oct-18-with-communist-congress-elections

In the meanwhile, it is time to accumulate any good coins at good prices.

Really i don't care about china propaganda right now i am enjoying NEO & ARK trading in bittrex .

Well I see that coins are rebounding back up and that is good. No matter how China tries to manipulate (that is my opinion), they will not succeed in doing so, because people are much mature than what they perceive they are.

It's obvious that the China ban only created a temporary downturn in the market. I think the slightest hint that the exchanges may come back up under Chinese regulation could really cause the market to move up in a dramatic fashion.

Last chance to buy
NEO is now. I think news will be coming out soon.

China FUD is mostly over already and the rest is likely to over after their elections next month.
It is a good time to buy quality coins at bargain prices.

Super sad I can't get in on these discount prices, we're going to be mooning soon at this rate, WAVES is already to 5$ almost doubling the money of folks who grabbed it @ $3.10.

I can see the price of NEO reaching new highs soon because Red-Pulse ICO will be on the platform and this is a going to drive the price up, as more ICO comes on the platform just like Ethereum the price will keep moving up.

Who has the power and most of the money in every country? who are these whale investors pushing Bitcoin up ever since 2013? when there is an opportunity to make more money and take control of the markets it is the governments doing all the heavy investing, they say Trump is the president but the whole world knows there is a group of elites running the show, they say Wu is the biggest miner in the world, is he?
OP I bet you are a facking youtuber having such title to attract more audience. lol

These dips were great for buying NEO, so happy.