Bitcoin Forum

Some of the harshest words I've seen coming out of China recently. All though this paper (based in hong kong) isn't government owned by mainland China the owner of this paper has long been "pro beijing" and it has history of firing editors who have said anything deemed negative about the government in mainland china.

No way to prove it, but having experience reading/watching pro beijing news I suspect some of the comments to be 'fake' as well... such as:   Great article, Andy Xie, this is the most intelligent and well informed writing on Bitcoin. "Bitcoin is a bubble that foreigners cooked up and, by all appearances, is designed to rob the credulous Chinese masses" This is the most courageous statement and highly significant.



http://www.scmp.com/comment/insight-opinion/article/1404497/bitcoin-bubble-wont-last-without-beijings-approval

Fuck china. Bitcoin was around and on upward trend long before they were in the picture.

Lol china

I will say though that they make some valid points , such as China was a very large factor in the huge upswing in the value of bitcoin.  It is true that Chinese people were (and I believe still are)  buying up more coins than anywhere else in the world.

With that said, this article is obviously a propaganda peace and quite trashy imo.

Maybe there should be a "no China news day" on the forums? Their puppet government acts more and more like North Korea. Some countries are just doomed, let them swim in their puddle hate until they drown.

their Pandas are super cool tho . just saying.

Can't argue with that!  :D

Well , if China is doomed , you panda , you're going down with them , no matter if you're a bear or not.
Bitcoin will survive :)

China was responsible for a good chunk of the rise, but China's involvement arguably encouraged the US government to recognise and work with bitcoin for fear that China would reap the benefits otherwise. 

Replace China with the U.S. or almost any government for that matter.

I advise you to stop reading after the "Bitcoin is a Ponzi scheme masquerading as a futuristic currency" line.

Panda 256

http://3.bp.blogspot.com/-HK8dH0g94O8/T_qoQx2YIzI/AAAAAAAACzY/iaOYEoxbgec/s1600/Funny-Panda-01.jpg
Life could be a dream, SHA-boom, SHA-boom!

Brilliant stuff, fearless leaders! Bitcoin is a vast foreign conspiracy against the Chinese people. Seems more obvious that you and your kleptocratic. corrupt, gov't elite are a vast conspiracy against the Chinese people. China will be left in the dust as innovation is crushed under the boot of paranoid totalitarianism.

They're buying low :)
So what? People who want to get involved with BTC will get involved

Feel free to critique the author's work directly on his Facebook page:
https://www.facebook.com/andy.xie.economist?fref=ts

Somebody go show him what a real Ponzi is.

haha,

awesome man, thanks. Posted

"Who paid you to write that FUD BitCoin article?"

brilliant.
i live in Edinburgh, and I get to see the pandas for free. wish my hashrate was free too.

Indeed, He doesn't even pretend to be even the slightest bit impartial....I have read some shit in my time but this guy is unreal!

Calling bitcoin a ponzi scheme only proves that the dude that is doing the name calling does not even know what a ponzi scheme is.

Bitcoin can not be a ponzi scheme for the simply fact that owning bitcoins does not generate any sort of income. One can only run a ponzi scheme with something that is supposed to generate some sort of income. like interest , dividend or whatever and then use the money of new investors into your stock or bond or fund or whatever to pay the fictitious income and it will of course all collapse once you can not find any new investors. Nothing like this is even possible with bitcoin.

It is possible that after the "entire world" has adopted bitcoin, that the price of bitcoin will not rise anymore, but it will not cause a collapse of bitcoin, like when a ponzi scheme can not find new investors anymore.

It is just malicious dumbass FUD to scare the sheep, that all this is

It's just state-funded propaganda don't worry about it.

Ugh china is manipulating price so hard. Like the other day when their version of eBay announced they would "not be taking bitcoin".

That's not them manipulating it; it's people panic selling.

Markets don't care about Chinese announcements anymore. *yawn*

The boy in question is a little cock sucker and chino bitch who like to think writing jr.high level of yellow (heh) journalism than getting pat on the head by his bosses equals professional competence.

He need a boot planted on his face and a cock up his ass. Probably won't be too hard seeing as how he's rimming his bosses all day long and writing this bull shit they cheekily call an article.

Why don't you take your racism out of here? All you do is spout racist crap everywhere and act like a little child. And what is your fixation with putting cocks up men's asses and homosexual sex acts? Is there something you're not addressing there?

I wouldn't have quite put it that way.....but i agree with the sentiment   ;) ;D

Such deep and profound analysis. I am humbled by your 'enlightened' views :)

Quit your bellyaching and trying to play the moral high horse. If you actually understood the sentiment behind how this chino punk spews these 'articles', you will be less inclined to defend it.

Ignorant and naive children masquerading as 'mature' and 'enlightened'. It's so amusing how corrupted and childish the so called 'progressive' people are these days.

Who is being a child, may I ask? :)

This is merely calling it out like it is. Deal with it.  8)

Also, 'andy'. Hahaha what a good 'chinese' name.

It's funny how naive and ignorant immature racists trolls are. What sentiment is behind the Chinese article etc? And what sentiment is behind your racist views? Your White American Supremacy?

What a crock.  ::)
Basically arguing that an uncontrolled free market wont work without.... communism???
I'll take that bet.

BWAHAHAHAHA

I had no idea I was 'white'. I guess it takes such a 'mature' and 'intellgent' people like you to tell me who I am. :)

It's incredibly amusing to watch a fool trying to act intelligent.

Please, check yourself before thinking you can say anything 'intelligent' because you have a mouth. You are starting to sound like this kid who wrote this 'article', I mean 'bitch fest'.

'Laccciiiissstt'. Please. Do you even have your eyes and ears all the way open?

So simple. So naive.

You can't even spell intelligent. You just post the same nonsense constantly without actually putting forth any arguments or reasoning whatsoever, you just resort to childish shit-flinging. I guess you must be pretty angry about your shit life right, so you misplace your hate for everybody else because you think they owe you something?

It's incredibly amusing to watch an ignorant racist fool trying to act intelligent.

The beauty of bitcoin is that it will never depend on china nor on any other country or entity ;-)

The interest of Chinese government is only confirming this.

Guys.... Hate to be the party-pooper but can we stay on topic??

Lets just all agree that the article was a load of shit.....

That's the whole point. Unfortunately these enablers who are too easily swayed and manipulated will spread these foolish bitching as something worth reading.

Article is shit, and so is the intent behind it. I can ask some 17 year old thug wannabe kid to write something with more backbone and substance.

It's also mainly for domestic consumption and self-congratulatory mental masturbation.

They think they are so 'subtle' LOL really?

The South China Morning Post is independent and well respected.  It's not the "party line". Xinhua and People's Daily are the official party line. SCMP criticizes the government of China frequently. They'll mention Falun Gong favorably, and often criticize the "princelings" (sons of older party officials") who are expected to become leaders in China. They're not as independent as they used to be when Rupert Murdoch owned them, though. On business news, they're usually accurate. 

The Hong Kong Economic Journal also considers Bitcoin to be a bubble (http://forum.hkej.com/node/107704), one of many in China.  The Pacific Standard says Bitcoin didn't crash after the China crackdown and may survive. (http://www.psmag.com/navigation/business-economics/bitcoin-crash-never-came-72462/) They point out that customers spent over $100 million last year on Zynga in-game purchases.

You should be reading all of these to find out what's happening with Bitcoin in China.

That's unfortunately some naive claptrap. No other way to put it. They are wrapped up too much in their own delusions and biases that makes al-jazeera look objective.

Many chinese mention such counter-opinions on their own. EVERYONE criticizes the princelings. To call them independent and well respected is the same as calling al jazeera not pro-muslim, pravda not pro-soviet, CNN not pro-democrat, and FOX not pro-republican.

But you mentioned them as if such superficial reasons dilute the essential biases in articles and 'authors' such as these.

That's unfortunately being way too naive about issues such as these, and a prime character in those who are easily swayed and hoodwinked by such obvious ulterior motives.

Why does this come as any surprise, China is listed in 171st Place with regards to freedom of the press.....tis just par for the course....

http://www.csmonitor.com/World/Global-Issues/2010/1020/Press-Freedom-Index-The-top-10-worst-countries/China

Many people, up to estimated about 30%, most of whom are highly educated (not necessarily intelligent or 'mature' as some would casually throw out), wealthy, and influential fled hong kong before 1999.

Ironically, they go to other countries and start to bitch about how they are proud to be 'chinese' while benefiting from other nations' education systems and employment opportunities. With such great chinese names as 'andy'.

Now that china is a little more influential, they are trying to cozy up and suck off PRC, calling on 'ethnic allegiances'.

BWAHAHAHAHAHA you can't make this shit up.

Why are you telling me this??... I live in Singapore....I see it everyday.
However, I also chose to leave my country of birth (mostly for economic reasons) and try to benefit in the same way whilst still being mildly patriotic.... i can't see what  you are getting at??

What I am getting at is the validity and complete lack of any substance behind the words of such people. I think it is apt to say you can measure a man's worth by his actions, not words.

This 'author' has much words, but little follow through. Just some very opportunistic attitude with some ignorant ethnic biases and bitchy mentality thrown in to give 'courage' (LOL) as some ignorant chinese called it, no doubt trying to mentally masturbate to the idea of 'standing up for yourself'. All the while their very identity and actions identify them as opportunistic cowards.

I don't know you, and that was a general detail of the fact about what these kinds of people actually did to put themselves in a position to write such articles.

Generalization is a fool's errand, but they need to get their own acts together if they don't want to be generalized.

Respect is a two way street, and these kinds of people who wrote these 'articles' know little more about them then children.


TLDR - author's a bitch and so is this article. If you want a legitimate criticism against bitcoin, examine the issue with some economists without at least overt political and ethnic biases.

Bitcoin has other uses than just a store of value.

I feel that the bitcoin protocol can be used for specialized services.

For example, bitcoin network can be used to communicate. The fact is that little can be done to prevent such means of communication.

This can be viewed as a loss of control.

So the authors views may be sincere however "Time" and unbiased history will show how misinformed he is.

Possibly, but by responding to racial bigotry with more of the same, you are just taking yourself down to his level.
Surely you can articulate your objective comments without resorting to this??!

I wouldn't worry, the Chinese public can discern what propaganda is quite easily.
In the past though it was very hard to go against the government wishes but Bitcoin makes it easy.
So basically every time they write a negative Bitcoin article or put Bitcoin on the news in China now, they are just giving it more free advertising.


I can already see the comedy show now...

__________________________________________________________________

Chinese government officials are sitting in an office watching a big screen of Bitcoins moving through China on Fiatleak.com.
(Every time it's more than 10 per second it makes the BEEP sound)

Chinese official----------------------------'Find the Bitcoin!'

His soldier races into the village and into people's homes -

- lifting up the mattress---------------- 'Where is the Bitcoin!?'
- rifling through the fridge--------------'Where is the Bitcoin!?'
- putting his head out of the sewer--'Where is the Bitcoin!?'

The Official sees the Bitcoins moving faster on his screen---'Beepy! Beepy! Stop the Beepy!

A soldier is breaking somebodies hardrive and looking through it---'Where is the Bitcoin!?'
The soldier is putting a small torch in someone's ear--------------' Are you remembering the Bitcoin!?'

The Bitcoins are now racing all over the fiatleak screen, the official stamps his feet like a little kid--- 'AHHH!

_______________________________________

Dont be ridiculous.... we all know it was created by the NSA   :P :P :P

if i had the link i'd send you a radio interview WITH satoshi.  he and Clinton were supposed good friends and they both wanted a place to buy and sell drugs so they invented Silk Road????

Really?....I thought that the proliferation of prostitutes/drugs was a NWO objective to dumb-down/placate the population so they would not resist the Greys when they arrive on Planet X.....

Andy is probably one of the most insightful economists you will ever come across. His comments on bitcoin being a craze in china merits consideration. However, on this issue I believe Andy is wrong for the following reasons:

1. Bitcoin is not just a digital currency. I think he doesn't yet realise that bitcoin is decentralised and effectively unstoppable. So, Andy doesn't understand the technology behind bitcoin, which is unfortunate.

2. Andy doesn't realise that the global growth rate of bitcoins is hovering at around 30% per month. Maybe China will have a short term impact on bitcoin values but in the medium and long term, bitcoin's user base is likely to rise towards 10 million. This relates to point 1, because Andy doesn't understand the technology behind bitcoin.

3. Andy doesn't realise that investment trusts are being setup in the US that will buy and hold bitcoins for the long term, starting in 2014. When bitcoins are sold to the public in this manner, the volatility will subside because speculators are being replaced by long term buy and hold investors.

It is not possible to stop bitcoin. Governments can only slow down the adoption rate a little if they tried really hard. BTFD!

I've read this guy's article for a decade and he is bearish on everything :D

"Andy is probably one of the most insightful economists you will ever come across."

I doubt that, I do believe he is probably one of the most insightful economists you will ever come across.

Everyone is entitled to their view and opinion, and obviously I don't know the history or background of this guy so I shouldn't judge too hard.  He's certainly way off on bitcoin though and appears to just be pushing predjiduce propaganda..... such as "bitcoin was created by foreigerners to rob Chinese people"..... I'd say not only is that obviously wrong,  it's borderline racist imo. 

Just my two  cents..

Exactly. Those who live in a glass house should not throw stone or complain about 'racism'. That's a bitch mentality right there.

No one has the obligation to give even a modicum of respect to such people. They are the offenders, and must change their ways or else the retaliation is perfectly justified - other people have little obligation to think otherwise. Fair's fair.

That's because Andy believes that China is in an epic property bubble.  I think he is probably right.  Sure, he is wrong on Bitcoin but he does understand that fiat debt based systems are inherently unstable. The problem is that Andy doesn't understand the blockchain and the benefits that the technology confers. He thinks that Bitcoin is some kind of centralised digital currency.  If you read the rest of what I wrote, you'll see that I'm not defending him.  

Economists generally have a poor grasp of the Byzantine Generals' problem.  They don't understand that this longstanding problem has been solved by Bitcoin.  

I don't know if people like him realize that it's offensive to say things like that or to have "us vs them" mentalitly but it's something I see often living in China.  Even my own Chinese family (in-laws) still often refer to me as "老外"  (foreigner)  when they are talking about me.  They aren't trying to be rude or anything but they and most Chinese people will always view everyone else an outsider and a foreigner, even if you're family.  You can't walk more than a few minutes around in China without hearing whispers of "foreigner foreigner foreigner" as people walk by.  Again, I don't think they do it on purpose or to be rude but it's certainly a mentality that's part of their upbringing.

Anyway, who cares about that really.  It's just sad to see someone so smart misunderstand bitcoin so much.  It's a shame he has no idea nor talks about any of the technological aspects of bitcoin or how it improves things like microtransactions and international transfers (something you would think many Chinese people would like due to how hard it is to move money out of mainland China).

He is correct on some things though, like China fueling the speculative aspect of bitcoin.  I think he's wrong though that bitcoin can't survive with China.  Bitcoin will continue to grow and gain adoption across the world, whether China is on board or not.  Similar to how things like Facebook, Twitter, Google etc etc can flourish without China being on board.

Wearing Tinfoil-Hats seems to be a Chinese thing too....

And nobody has an obligation to respect you or anything you say either. And pretty much nobody does around here.

Your logic of fighting ignorance with ignorance and propaganda with propaganda just makes you look like a hypocritical fool who must not only live in glass house but on a glass planet by the looks of things.

This is some very nasty writing. Not good at all.

Read the rest of his posts then. That's mild in comparison.

Yeah. I see what you mean. A lot of hatred and fear of a country he has probably never been to. I just watched 12 years a slave.  This guy's attitude reminds me of the slavemaster. He doesn't seem to think of other people as human beings but more as objects of hatred.

I wonder what kind of shoes, clothes, computer or car he uses? Pretty hard to avoid Asia. Lol.

He's probably just a troll to be honest. People like that do not think rationally because they are unable to think outside of any boxes except the one they are trapped in. Must be kinda scary to them.