Bitcoin Forum

Up until recently I've been quite bearish but seeing all the "strong hands" out there is impressive. And let's be honest, the China news and the bullshit negative propaganda is losing its power rapidly - generally things are looking bright for the future. I'm starting to believe that things are going to keep moving between 700 and 1000 until January, when things push upwards. Are all those waiting for the 450 mark really never going to see their dreams come true?

What do you mean bullshit propoganda? China -- the country of 1 billion + and second largest economy in the world -- essentially banned bitcoin today. I'd say that's bad news... maybe the worst single one day event in the history of bitcoin, and it's really unlikely that we're going to rise back to the one thousand range anytime soon. It's a big blow, and the bitcoin nutters are going to have to really try their hardest this time to put any kind of positive spin on it. They'll try though.

They haven't banned it. You could buy it with your normal bank account right now. They are trying to put a leash on it. We'll see whether that's possible.

It's not positive. It is a humongously long way away from the worst day in the history of Bitcoin.

By bullshit propaganda I am referring to the "drugs, anonymous assasins, evil hackers" stuff.

The China issue is not so straightforward. The world is a big place. There is room for massive growth in America alone. Did you really believe that Bitcoin would become the currency of the entire World?

Bitcoin also grew plenty in the early days, without the whole "China" thing. Most of the logarithmic percentage graph shows progress in the days pre-China mania.

Of course it is an obstacle, but at this stage of early growth it is not at all as bad as it may seem when phrased as "The second-largest economy of the world pulls out of Bitcoin!!"