Bitcoin Forum

I reckon this might imply that there are whales who want to create fear to cause bitcoin to fall so they can buy or they are in a short position.

In any case, why this sudden sentiment from a bitcoin news journalist? Did JP Morgan pay for this article hehehe?

https://i.ibb.co/C0w3zL6/image.jpg
Tom Lee disapproves

The Feds Will Kill Bitcoin via Regulation

We’ve seen this before.

In 2011, the online poker world was rocked when the DOJ indicted executives of the biggest poker sites, seized the websites and froze player accounts.  It also turned out Full Tilt Poker was a Ponzi scheme in which only $60 million was available yet players had $390 million owed to them.

Barack Obama’s administration hated payday lenders, gun dealers, and pornography operators. So they attempted to shut those businesses down by choking off their access to the financial system. The FDIC threatened banks with fines and litigation unless they refused their business, while ACH houses that facilitated online payday loan transfers were shut down.

Make no mistake. The federal government wants bitcoin and other cryptocurrencies dead.

They will choke the life out of them through regulation.

Naturally, foolish bitcoin traders rushed into bitcoin and sent its value higher because they don’t really understand what Steven Mnuchin said. Now they do.

Read in full https://www.ccn.com/news/treasury-secretary-seals-bitcoins-impending-death-by-a-thousand-cuts/2019/07/15/?amp

Weird ass article indeed. I was expecting it to be a press release(basically you pay them to post your article), but it doesn't seem to be the case with this article specifically.

Anyway, I checked the writer's profile, and it seems that he's simply just a big bitcoin bear: https://www.ccn.com/author/lawrence-meyers/

He also has an article written titled: "Trump Says Bitcoin is Dumb. He’s 100% Right."

@mjglqw. Did a cryptocoin news site hire him to create a good cop, bad cop routine? When bitcoin's price fluctuation is 10% lower they put his article on the headline and when the price is fluctuating 10% higher they put a bitcoin bull's article hehehe.

from the day they created this shitty site called CCN, they have been publishing articles with the same exact trend. if bitcoin is rising in the previous couple of days they will be publishing articles that talk about how bitcoin is going to the moon and reaching $100.....0 soon! and when in the past couple of days price has been dropping or even stable with sideways action they publish how bitcoin is dead and everyone is aiming to kill it and how it is dropping down to $1000!

if they wanted to kill bitcoin they would have never let it grow and become this big for 10 years!

that's not the impression i get from the press conference. i recommend everyone watch it for themselves: https://www.youtube.com/watch?time_continue=402&v=zAICzg8ir50

it sounds like they're happy with a system of whitelisted, compliant exchanges. everything else runs the risk of being shut down though.

I understand the reason why bitcoin/cryptocurrency related news sites post bull and bear articles when the prices rise/drop(because they garner a good amount of clicks from the newer folks), but this article specifically? It's straight off anti-bitcoin. Not even close to being neutral. It's like an article straight off written by Nouriel Roubini.

Bitcoin compared to poker, pornography, and gun dealers. ::)

FUD. Bitcoin doesn't need permission, and nor does it care. It has been running for more than 10 years, and resisted all kinds of attacks against it. The Fed attacking it through regulation, will not kill it.

people like this dude need to be introduced to the long list of bitcoin obituaries (https://99bitcoins.com/bitcoin-obituaries/) to see that they are not the first idiots who came up with such nonsense about bitcoin. we may never know the true reasons behind the scene about why they keep publishing this type of stuff even though this type of FUD is starting to get real old. my guess is that some entity is paying them to publish negative stuff about bitcoin and they simply google bitcoin FUD and change some words and make an article. their employer can just be the news site itself though, it doesn't have to be a big conspiracy at work.

Is this the crypto news website that was about to close a month ago correct? Well it's about differentiating articles and editorial and that made me research a bit about it.

This author sure is making these articles biased and pure editorial base on what he wants to publish and obviously he's spreading FUD.

Seconded, then again everyone sees what they want to see.

The gist I got was the same it's pretty much always been - play nice, don't be naughty, anyone who does get balls deep is on their own and that's all fair enough.

I can't fully agree with such claim, it's not the way I see it. But I guess everyone interprets news on its own way of understanding. In general I think that many Bitcoin users look at many Bitcoin news like someone wants to harm Bitcoin even when the crticism or opinion is in good intention or shows real issues and problems that Bitcoin and community certainly have.
Don't read and watch such news so much and don't bother so much with other people's opinion, that is my advice.

This is main power of bitcoin, they can make any restriction they want, but at the end it would be only wasted money. What US is actually wants is to put Libra and Bitcoin in same basket, but most of us know that those coins are something completely diametrically opposite.

It is well known thing that the one who controls the media control public opinion about something, and in case of crypto related media I guess some of them are on the government payroll. They can influence our thinking, but they can not change Bitcoin white paper and some basic facts. At the end of the day all that articles are just dead letters in the digital space, with value which is zero or close to zero.

This is cheap FUD. Regulation is inevitable, and its the only way to attract institutional money. Look at how the exchanges have their prices manipulated, going down 30% in a matter of days.

The right way would be to implement a self-regulation within the exchanges, through a independent comitee, but since nobody wants to do that, governments will step in, as they always do. Of course, this on the long term will make the price stagnate, like it happened with gold and silver, but I believe we will see six digits before it happens.

We have seen these sort of bear riders in the past and it is not a big surprise, when the market is looking for a direction these media will come up with something to take the market down and they might achieve that for a while, we cannot do anything for these sort of market manipulation and it will cool down after and i am certain they will take advantage of the situation and earn big bucks with these sort of manipulation.

I understand the reasoning behind it and I can totally agree with them if it was remotely similar but this literally has nothing to do with it.

First of all pokerstars is still running and making a ton of money as well, they are giving away millions from their profits to gamblers all the time. Payday lenders are still making a killing as well, it is one of the biggest downfalls of america. The thing he talks about is that the corporations that is based on USA and government can be blamed of not doing anything about it, if the corporation moves it is headquarters somewhere else and starts to operate in places like Malta or Bahamas and what not then you can easily continue your operations.

Bitcoin doesn't even have a headquarters, what can they do about bitcoin? They can't jail the "owner" since there isn't any, they can't seize the website because there isn't one, it is decentralized and global so they can't do anything about it.

Every bitcoin user in the world is expecting this to happen.Sooner or later,the USA government and the Federal Reserve System will hit cryptocurrencies and will try to burn them to the ground.The important question is,when it will happen?People like Tom Lee are playing with the fears of bitcoin users for their own benefit.

It is happening now, and bitcoin price suddenly drops too deep than before :'(

We don't know if that is because of the news, but I think many people have panic sell their bitcoin. I still believe that there is new hope for bitcoin to be stronger to face this situation. I think the government will use this time to buy bitcoin at a low price because they made people in panic mode.

i was really starting to get concerned about this correction not being accompanied by really scary FUD. it used to be "china bans bitcoin" and now it is "trump will kill bitcoin". a deep correction with no AAA grade FUD would scare the shit out of me. now i feel much better.

the china FUD worked for years and created lots of 40% corrections. price may go down to low $8ks. this is regular bitcoin price action and it will shake the weak hands.

trump will not try to kill bitcoin. think of him what you want, but he is not that stupid. the message is clear: u.s.gov does not want big tech to become global banking players.


long term btc hodlers not affected.

Yup, straight outta anti-bitcoiners head. Trump will never kill bitcoin, and if he does, he should have done it way before it gets big, where it can easily be controlled and contained. If they are really serious in killing bitcoin, they would go for centralized exchanges and completely shutting them off but no, they just imposed these ridiculous regulatory stuff and shooed away international competitors so as to make things 'exclusively American.' Stuff like this pops out of nowhere on CCN every now and then, specifically on times where the price action becomes somewhat dramatic.


I remember that time where China's on-off bans for months affected the price severely, and this was in 2015 I think, where price tanked hard and reached sub-$200 for a brief amount of time. Good times.

look at the articles he writes:

https://www.ccn.com/author/lawrence-meyers/?amp

and look at one of the articles he wrote month ago:

02/06/2019

Bitcoin is for Suckers – Fight Me (https://www.ccn.com/bitcoin-is-for-suckers/)

the guy hates bitcoin and altcoins, but the ridiculous is that he writes it in a site that is related to cryptos. It is a shame that ccn publishes these articles

Bitcoin is down almost $4000 in the last 6 days.  ??? #rektcity

They obviously had the tools and the power to shut it down it they wanted to, but the thing is, the more they try, the more crypto leave them in the dust. I don't know if the author intention is to create a FUD, it's just the state of crypto journalism for years, click bat and misleading articles to get the attention of their readers.

But I guess what the Feds want is complete regulation because I'm sure they know that this can't kill because it's already been out there and growing. And thanks to this article as the price goes down and more players and new and fresh blood will pump the market in the next coming days.

He was hired for moments of dumps and crashes. This will cause their article factory business to have a continous stream of hits and clicks by manufacturing bull and bear articles in pumps and dumps hehe.

We are not new to this type of sponsor's news and articles! This type of articles and news has been there.  We have news before like "bitcoin is dead, bitcoin cannot cross $1,000, bitcoin is going to zero and bitcoin is a bubble"! However, Bitcoin may have put the latest one to shame by pumping from below $9100 to $10600 within 24 hour. It is good and nice that we have started understanding their manipulation through creating of fears.

They must try it and realized that its an impossible thing to happen.Its been here for 10 years and we have seen on the things been experienced by Bitcoin
but still standing strong no matter what.People do compare this to traditional illegal stuffs doesn't really have the idea or knowledge on whats Bitcoin.
Its total non relevant at all.

So many things wrong with this comparison of bitcoin to a confirmed poker ponzi schemes. Literally nothing is similar between the two.

Would certain countries around the world try to "choke off" access of bitcoin businesses to the traditional financial sector? Most likely. We've already seen stuff like this happen in India, China, and a bunch of other countries that are currently poised to restrict access to that area.

But is that going to be enforceable or helpful when it comes to actually deterring people from using bitcoin? I strongly doubt it. Plus, we've seen markets react to certain regulatory concerns before, especially when China banned ICOs. It was never to the magnitude that these people make it seem like.


It's a classic scare tactic. I wouldn't jump to conclusions about a someone behind the scenes 'commissioning' for this fear to be spread, though none of the points raised are valid.

haha, I saw that article too, here is the link if anyone interested: https://www.ccn.com/news/trump-bitcoin-criticism-is-right/2019/07/13/
Btw I think we need someone to tell Roger Ver about this man, he will be huge discovery for bitcoin.com
It's fault when writer states his opinion so directly in article, especially when he says so loudly trump said bitcoin is shit and he is 100% right, such publishers usually are left without jobs or are in shady companies.
Also as CCN stated, they were going to close so why are they still functional?

Yeah everyone always give an opinion no matter what point of idea as long as they've expressed vocally. It's alright to say anything but to the extent that these reports wanting bitcoin to go down of its price, well that's their prerogative and I guess they're part of FUD whose paid to deliver bad news for bitcoin. Their aim is to pull bitcoin from where it is now, then they will purchase btc once it declined on value.

What I don't get is why people are acting like it's such a big deal. US government doesn't like Libra and Facebook. Have we all forgot what Facebook did not too long ago? They sold you to companies and didn't tell you about it. So why would anyone like Libra or anything coming out from Facebook? Come on guys, I would attack them too.

"The US bans Bitcoin" is the new "China bans Bitcoin" FUD - every little bit of news about the US authorities and cryptocurrency will be turned into long sensationalist doomsday articles. These journalists and experts will then keep tying every single price dip to public statements of those authorities, just like they did with Trump's tweets, even if the timing isn't there.

The interesting question here is how is behind the FUD - the people who want to drop the price to buy coins cheap? Bankers? Shitcoiners?

nocoiners have been peddling this narrative for years already. part of it is just the nocoiner psychology---sour grapes when price goes up and schadenfreude when it goes down. i think a lot of them legitimately believe their bullshit due to their biases.

those who lived through the online poker boom and bust are also drawing on a particular experience: black friday marked the end of the poker boom. and tbh it never came back and probably never will. i'm not saying that will happen to bitcoin, but i can see why people who lived through it make the analogy.

there are loads of people who want to see price go down. from those who are shorting bitcoin and have been losing money doing so, to those who have some money and want to dump it to get bitcoin instead. and since the FUD strategy has been successful in some cases everyone who wants a lower price always tries their hand at spreading it as much as they can. they just need some meaningless news to turn negative and push it all over the internet, then the shitty news sites who are always desperate for traffic pick it up and do the rest for them.

News outlets? CNBC has been shilling various coins where for a short period of time even put Bcash above Bitcoin as the investment to go for, then invite Roger Ver to have a chat with. Very suspicious.

I doubt banksters are behind it. I'm pretty sure that most of them want to think less about it than more. Other than news outlets it could very well be wealthy investors or exchanges such as BitMEX that thrive on volatility.

BitMEX couldn't care less about the short term direction of the price, which the CEO Arthur Hayes even said himself. All they care about is that the price bounces up and down and people trade against each other, and BitMEX against them.

he seems to be biased on his opinion but we cant do about it because that what he thinks about bitcoin while other writers are honest and will only write stuffs depending on the current situation of bitcoin   . there are also writers that are being paid to  write fud stuffs so that people will panic and sell  . and lastly there are kind of writers that will write unrealistic stuffs just to catch the attention of the readers  .  let them , bitcoin will still move on its own way  .

I don't think people forgot what Facebook did (i.e. selling user data to third parties), but people simply don't seem to care anymore. I have seen various groups that have been trying to get people to delete their Facebook accounts, but it was a very short lived hype because of how people actually like the service provided by Facebook.

In the end, Facebook's core business model is selling user data, so what's there to complain about? If you sign up to their service you sell yourself to Facebook. Facebook then resells you.  :D

Now where do you see bitcoin down by 4000$ ?  Bitcoin is currently at 10500$ and the maximum it reached in last few days was 13800$. It is mostly trading between 10K - 12K. Also do not forgot that at the beginning of this year bitcoin was only 3.5K so we are almost 3x higher the price as it was in Jan 2019.

These are momentary changes and the crypto market is very prone to such fluctuations and we have been seeing it for quote long times so it should not bother you at all. What you need to worry about is how much of the coins can you own. This is important because if you are able to own some good number of coins, the bullish market and the halving in months to come will make you a millionaire.

it's always the same. you can remember when we fall from ath lower and lower. bitcoin is dead and so on... magically most of the medias stopped to write about bitcoin... they thought its dead or what? as bitcoin started to rise again, medias paying back attention on bitcoin. this comedy show lately about btc is really funny..