Bitcoin Forum

China’s state-controlled television station, CCTV.com, recently hosted a segment breaking down Bitcoin (https://www.cryptozink.io/currencycoin/BTC/bitcoin/), according to a prominent trader that closely follows the region’s cryptocurrency scene.

China's state controlled television explaining the basics of "first ever blockchain technology (https://www.cryptozink.io/what-is-blockchain-technology/)" #bitcoin $btc, and how a distributed ledger works

Imagine 1.3 billion people got to know bitcoin because state made an effort to explain how it works.

There is something fishy how the bitcoin market goes on. I guess the reason why bitcoin market fluctuated weeks ago is in preparation of China's declaration on blockchain technology. Remember they are the biggest miner of bitcoin and thus China has the ability to influence the market greatly. After the announcement of China the market recovered suddenly in big volume. I think its all a propaganda. They are behind the market fall and also the price recovery. I think its a strategy to show the world that their actions have huge impact to the world of cryptocurrency.

 I have no evidence on my claims since this is just an idea I came up when I tried to analyze some data. I dont speak of facts but of probability. But I do hope that I am wrong on these.

China has something to do with Bitcoin's price increase. No one denies that. But, to be clear, the recent Bitcoin price increase is not solely about China. China was not everything to what happened. I don't like hearing statements saying China is the one that caused the pump, China is the reason why Bitcoin's price increased, China caused the massive dump, China is the one that controls the fate of Bitcoin because the largest mining farm is in China, etc. What do all these imply, that China is lording over Bitcoin? Or Bitcoin is in China's hands? I don't share this.

It's always gonna be better if there's a link provided to validate this claim about China's involvement in the recent price pump. If this news is true, I still dont see any relevance from this news to the price. Not unless, Chinese government will remove the restrictions and bans against bitcoin and other Cryptocurrency, including exchanges. That way people could easily accumulate Bitcoin without being bothered against the authorities, thus, this will surely will make a positive impact in the market due to massive buy out.

Zuck getting grilled in Washington was the reason for the crash. China, manipulations/shorts are responsible for the sudden price jump.

No one speaks of facts when it comes to crypto or BTC. It's all opinions and speculations; for now.

all related to the increase in bitcoin not just china but some countries have contributed to the rise in bitcoin ,although everything is directed to china but we must realize that the whole world is enlivening demand and supply so let's be more united in growing the value of bitcoin

Damn, that's something new. I thought the biggest reason was due to it being praised by the chinese president and then making a huge annoucment they they would be entering the crypto-currency market, this puts a different spin on things.

I definetly would say that the broadcast showcased that China was fully accepting of Bitcoin and it's likely the government coordinated it like so, and a lot of investers that were only stopped due to China's restrictions if it where finally able to dump funds in the crypto-currency.

They've made a huge impact, the recent price pumps tells us China means buisness.

Well now I'm quite confused. It really looked like it was only a whale manipulating the market. With much privacy to China, these news isn't relayed to us instantly. I've speculated at first that China has something to do with their announcement, but I certainly didn't know about it going on national television, so I thought it was just another whale. If it's true, then the possibility that China being one of the reason of the sudden surge is likely.

then why didn't bitcoin price rise up previous times where similar programs ran on the state television stations?
it seems to me like people are trying too hard to justify a simple price rise that is only a correction of a big drop that created a negative/reverse bubble. the fact that some program ran on TV in one country that many people may not have even seen it is not the reason why price went up, not to mention that even if "new people" were introduced to bitcoin, they wouldn't just run to buy bitcoin right away! specially since there aren't any exchanges left in China for them to buy bitcoin from!

I have read the news yesterday regarding the Chinese leader showing interest and future plans in blockchain technology, but he didn't mentioned about Bitcoin and other cryptocurrency ( I may be wrong, since there's a lot of source in the internet )
Now, I'm talking about the television station that has a Bitcoin related segment. Is China making a slow steps to take back what they are against of from Cryptocurrency?

Yep, that's big news. China allowing its 1.3 billion people to participate in this crypto market is a big game changer for Bitcoin and crypto as a whole.

The broadcast is 100% true. Wait and see.

We're not talking about a regular state program. It's a state program with a population of 1.3 billion. And If any Chinese state program broadcast something like that before, they didn't do it in the same day as President Xi's announcing they're embracing blockchain technology. 

He didn't have to mention Bitcoin for it to be affected. Remember, the majority of people know about Bitcoin, not blockchain or crypto...BTC is king.

China has always been a major stakeholder of cryptocurrencies and not just bitcoin alone. There are many cryptocurrency enthusiasts who are actively involved in what happens to bitcoin.Most people are wrong when they assume that due to the numerous regulation involving the use of bitcoin, they are not really concerned about the price of bitcoin.

There are a lot of big investors in China and I think a big portion of bitcoin is in China. They can affect and manipulate the price. I think the market price of bitcoin suddenly rose up just after their president announced support for blockchain technology. I guess China has a great influence in the market.

A lot of chinese investors and citizens hold or mine bitcoin. i presume it is not a significant portion of their population, but enough to manipulate market. prices have been seen to fluctuate as the Chinese government put out news or provide a glimpse as to where they are on regulating bitcoin and blockchain. China has never been a friend to Cryptocurrencies. the entire concept is in direct opposition to their own domestic ideology of control, restrictions and regulations. A quick google search of their domestic economic policy should give you insight into how they're going to handle bitcoin and other Cryptocurrencies.

As policy updates from the government come out, people are impulsively triggered to act on it and this influences both local and global markets of bitcoin-fiat pricing. There also is lot of speculation on Chinese investors getting into mining and HODLing which eventually secures the network and drives up the price as more people adopt on a global scale. if the Chinese government declares war, say bye to Cryptos adoption, or at least expect a slowly adoption.

in my opinion the rise of bitcoin yesterday was indeed more or less influenced by the news about the Chinese president who supported the blockchain. because most investors and bitcoin miners come from China. bitcoin prices in my opinion can indeed be influenced by news about cryptocurrency. Good news will push the price of bitcoin and bad news can also make the price of bitcoin go down.

China has been cracking down on bitcoin and miners from few years and all of a sudden their support for blackchain is bit surprising and they do have miners but when it comes to investment there are other counties who have invested much more in bitcoin than China and I feel China is doing this just to control the bitcoin by having people invested and then again might threaten to ban it thus sending a panic selling waves across.

I don't think this was a direct contributor in the rise. Only OTC exchanges are allowed in China, and they don't have a direct effect on Bitcoin prices -- that means Chinese residents lining up to buy Bitcoin won't affect the market that much and that quickly. It might have influenced people from other countries to buy though, which is what seemed to happen with Xi's statement.


It might be a hard pill to swallow, but China undoubtedly has massive influence over Bitcoin. A vast majority of hashrate is behind their firewall, and we all know their government exerts a sizable degree of control over Chinese businesses (including most miners). Bitcoin can survive without China for sure, but it's going to be a massive stepback.

Of course, with the news that China is adopting blockchain technology that is used by bitcoin, it has an impact on the rise of bitcoin and also on January 1 2020, China made crypto regulation which means that China will legalize crypto again.

So the president tells that blockchain is good.
And the television teaches them about Bitcoin.
I think that everybody is waiting for the next step: allowing the exchanges operate again in China. Hence the price rise...

Oh god, NOT China AGAIN!!! Seriously, no!!!!  :'(
And the posts....the posts here... :'(

Blockchain doesn't mean bitcoin, how many times do you people need to read this to understand it?
Just because Google is pouring money into android you got and buy angry birds shares?


Yeah, we always need to have an explanation for any movement.
If there is a dump, then some whale,CIA,SEC, stuff is the culprit, if there is a movement upwards it's people in Somalia buying coins.

As for the buying part, don't apply logic in it, there is no place for it in this madness.
Remember when during the Cyprus crisis people were buying bitcoin because they had their account locked by the banks? That was the time when the first pidgeon to pidgeon buy happened,  ;D


The news goes like this:

Here is the source:
https://twitter.com/PandaofBinance/status/1188450279341076480
and the image
https://i.imgur.com/QdRcryV.jpg

I'm going to award some serious merit to the one that can link that with anything that shows how bitcoin works.

This is an interesting and surprising one which does indicate some interest in actual crypto, though certainly not the type anyone wants or needs.

https://twitter.com/DoveyWan/status/1188713741782667264

https://i.imgur.com/dheYU68.jpg?1

As for everything else I enjoyed the way people hailed the 'crypto law' that was passed the other day. It appears to be about being more careful with their passwords.

so do you think that before that day, no one from that 1.3 billion people had no idea about bitcoin?
hardly!
I think that as usually market manipulators played well against the market, they saw the market positions and boomed the market against it.

After such a declaration from China's president, what you expected, really?  ;D



You are right, but don't people buy more on feelings, rumors and FOMO?
I also said that blockchain can also help China in logistics (https://bitcointalk.org/index.php?topic=5195956.msg52903496#msg52903496).
But I somehow believe that China doesn't need a presidential statement for that. Of course, this is speculation, and we go back to China + Bitcoin = Love Price.

Because after god, the chinese president is the most powerful being.

China is so powerful! God created the world, yes. But the rest are made in china.

My pencil, slippers, mouse, keyboards, laptop, cellphone, cap, pen, head set, earphones, toothpick, glass, shirt, and almost everything that I see inside my tiny house are made in china.

The Bitcoin ASIC miners are made in china. The largest Bitcoin mining pools are in china. The price increase of Bitcoin is caused by china. The dump in the prices is also because of china.

Bitcoin is made in china. Satoshi is chinese. Bitcoin is china! 

I think there are several factors that can be attributed on Bitcoin's sudden price increase and the announcement from China's President could be one of them! Another reason cited was a ripple effect from a "$150 million Bitmex short positions being liquidated" which also resulted in some kind of FOMO over cryptosphere.

Nevertheless, its not surprising after all considering Bitcoin's inherent characteristic - mainly on its high volatility which by far crypto holders are somewhat accustomed to but its also worth mentioning that some of Chinese crypto projects did exhibit a surge on its crypto prices as well. Imho.

Source: Forget China—Is This The Real Reason Bitcoin, Ethereum, Litecoin, And Ripple’s XRP Bounced?  (https://www.forbes.com/sites/billybambrough/2019/10/25/forget-chinais-this-the-real-reason-bitcoin-ethereum-litecoin-and-ripples-xrp-bounced/#1733c0a445c6)

Nothing against the involvement of China with the sudden increase of bitcoin. It indeed affects the price of bitcoin since the president is looking into the blockchain technology. China is a big country with billion of population. Imagine their president stating a message with regards to his positive insight about blockchain. Although I'm doubting this will last for good. The president might be planning something

China was considered as the sleeping giant and now this giant is all ready to be the next superpower economically, militarily and politically. Soon, it can also be the giant for Bitcoin and of course, the blockchain technology. With blockchain technology, China has been on the forefront developing innovations using the technology. With the recent official statement of China's president on the blockchain technology, many are speculating that it is just a matter of time when the China market will once again open up and dominate the Bitcoin scene. This is quite possible, indeed. Combining the hyped-up power of the halving next year and the coming of the new Crypto Law from China, I am now seeing a real big bull run in 2020. Welcome to the world of China!

The recent surge in the price of bitcoin is as result aftermath of president Xi Jinping pronouncement of the adoption of blockchain technology by china blockchain is the backbone of bitcoin thus well correlated and connected hence will definitely impact its price positively and China is a major stakeholder in bitcoin they have the largest mining farm, Millions of bitcoin hodlers are Chinese recall some few years i think in 2017  when Chinese government raged a war against some crypto trading and close down local bitcoin exchanges that singular act resulted to the drop in the price of bitcoin that shows how China has a huge impact on the price of bitcoin.

I thought that was a link to article/news regarding CCTV.com segment breaking down bitcoin, but apparently only you are promoting your website. Sighs
if there is any source to provide more info about it, maybe someone who lives in China.



Agreed, I don't think China announcement will adopt blockchain has something to do with recent pump, they didn't say anything about bitcoin, but Xi Jinping mentioned how blockchain can be useful in many aspects to develop economics.


Everything to do with it?
Basically you said, Chinese and people around the world were flocking to buy bitcoin because of that announcement?

I prefer this one more than China reasons;

"crypto analytics provide, Eskew uncovered that some investors were shorting their positions by $150 million worth. The $150m were liquidated from Seychelles-based crypto exchange, BitMEX.
The short sales triggered what is called a “short squeeze.” A short squeeze can increase the value of an asset rapidly when sellers attempt to cover their positions. This result in temporary increase of prices due to increased buying volume."

Well China has a very large market and such a massive publicity about it can definitely have a slight effect on the price of bitcoin. However i was thinking you were going to provide us with some reference as to whether this broadcast was actually made but you didn't. Mind sharing with us because i looked it up but could not find any.

Edit
I found this link (https://v.youku.com/v_show/id_XNjYwNTUyOTIw.html/url), hope it helps and the programme's title is Outrageous Bitcoin

Yes, it is obvious. Mostly a government with a technological base has already tried to make a standalone position in the global crypto market. And for this China was the first country who stop using bitcoin. Afterall a government finally understands the potential and importance of Bitcoin and finally technology behind it.

Japan is already using it. And many countries are testing.

Now the fear will take major action as countries who are still not aware of the technology behind Bitcoin, Many poor countries including India have no intention to implement new edge technology. Even many countries are banning it.

Ha ha... I am laughing just because those countries who are still skeptical about bitcoin will have to bear a lot more in an upcoming financial era.

China have make some thing big for bitcoin, China can make bitcoin price down just while time and China can make bitcoin price increase to higher just one day, last week bitcoin touch until $7.5K after China president's announce for adopting bitcoin price increase and up above $8.5K, China really have big power for bitcoin to higher and lower price, always have chance for bitcoin if adopt by China.

I think the country is expanding regarding the benefits of blockchain and not exactly bitcoin. some argue that bitcoin is blockchain but this isn't true. Bitcoin is merely a currency created over distributed ledger system blockchain is very big and generic china wants to familiarise their country with this new technology and not bitcoin.

Well yes, the fact that every single respectable Chinese based crypto currency made over 30-40% + gains over the weekend, outperforming all
others, brought the Chinese influence as the number 1 reason for the recent strong rally.

Zuckerberg's and Libra's sustained fall from grace has only a secondary indirect effect on price action...

It is possible that the increase in bitcoin has to do with China, because the increase in bitcoin occurs to coincide with what was announced by Chinese President Xi Jinping who plans to implement the blockchain and in my opinion it has something to do.
Although there is good news from other countries, China is more accurate with increasing bitocin or cryptocurrency.

Yeah, should really really lower my hopes, for 99% of the board blockchain, bitcoin, binance, bounty mean the same thing, they start with B and they mean money, right?
China might develop its own private centralized blockchain, the next second .....this is good for bitcoin.
But yeah, let's have some hype, China that China this and when it goes down again, we can blame it on, guess what? China not doing what we were thought they were supposed to be doing. And we're again going to have all the screams about conspirations and manipulations.

Seriously now, 1.3 billion possible customers in the so-called biggest economy and all they can do is 2k?
NOT even mentioning the fact that most of the buys that triggered the bull run happened at around 1-2 am China time on a Saturday....which makes so much sense!!



If everything is made in China...can you somehow explain this miracle of economic trade (https://en.wikipedia.org/wiki/List_of_countries_by_exports)?

Lol, one of the miracles of reality!
Of course, it might be that indeed everything you have in your house is from China, if....you're Chinese.


Fortunately enough, top 20 pharmaceutical companies are all located in Europe and US  ;D ;D ;D

With this announcement are we sure that crypto will be safe because of expanding blockchain uses? we know that chinese governments was once planned to ban crypto on their country and all chinese users of crypto will be imprisoned. but the announcement will be about blockchain at all. we saw that this affect bitcoins price as well as altcoins. I was thinking that they contribute to the spread of crypto in different countries and can they help crypto projects to share their aspirations to help everyone especially in needed regions? hopefully this will serve as a way to spread crypto in all regions.

This is really good, but I have doubts that China will support Bitcoin. Most likely it’s just a guide where can Blockchain be used and nothing more. Although the president’s statement about Blockchain support shocked me, I didn’t think that a conservative like China would never do it

Of course they won't support it. They may give attempting to control it or subvert it a try within China.

A Chinese bank just bought into Bitpie, the biggest Chinese Bitcoin wallet - https://en.cryptonomist.ch/2019/10/28/china-merchant-bank-buys-bitcoin-wallet/

At the very least that likely means attempting to bring Bitcoin users into their surveillance, or rather more than they do already.

With China’s new cryptography law will come into effect on January 2020, there’s a great chance that our market would go uptrend. However, I would not really count on that though. Since they’re only endorsing blockchain and not Bitcoin and other cryptocurrencies, there’s no such guarantees that China would finally embrace digital tokens in open arms.

Plus, halving is coming. For those of you who may think that it is going to cause a major uptrend, it will go backwards instead on a short-term basis.

It’s a good thing that China recognizes blockchain very well, but it will come in a long while that they will embrace Bitcoin and other cryptocurrencies as well to be adopted in the country.

It is part of China's strategy to adopt the blockchain, by educating its citizens on technology, products, bitcoin, and other things related to it will greatly assist the process. This article (https://www.reuters.com/article/us-china-blockchain-idUSKBN1X704A) is quite informative, please read.
This is very brilliant I think, the impact is also quite fundamentally significant a few days ago, although this is not the only reason that the price of bitcoin is rising, it is quite influential.

I wrote in the same post: people buy by rumors.
They may expect further moves (which may or may not happen) which could affect the price. It has happened in 2017 too, isn't it?
It was, after all, much bigger than the "usual" week-end "strange" behaviors for the market.
Of course, I may be wrong too. If I'd know for good all these things I'd be rich by now.



I've read @Darker45 post (from start to end!) as sarcasm; it was the only way I made sense to me  ;)

Yes we dont deny the fact that China has contributed to increase in prices as it is the center of mining farms all over world and its decision of adopting blockchain technology has pumped the demand in the market creating huge investments by the investors leading to price pumps over $9500 at this time.If this pace continues than prices can easily cross $10k by the end of the year without seeing any correction.

When i reading the news about the president of China Xi Jinping want to develop blockchain technology. From there I conclude
bitcoin price increases do have a relationship with China. As we know if it is related to economic problems China always wants
to monopolize the market. So China wants to master the blockchain technology, in my conclusion will be interesting in the world
of cryptocurrency. We will continue to see how the continuation of China-related plans this blockchain technology.

You're reading way too much into it.
Whenever you will talk about the inception of blockchain, like it or not, Bitcoin gonna come in discussion. Xi Zinping clearly talked about embracing blockchain technology which could be disruptive tech in many sectors. He didn't talk about lifting any kind of ban that Chinese government has imposed on cryto.
Moreover, don't just assume that the whole population of 1.3 Billion gonna watch it. State controlled channels' reach isn't that high.

It looks like the most massive advertising of Bitcoin. Although, as statistics show, Bitcoin is not considered the top cryptocurrency in China. The most used there is EOS now. However, perhaps after such a reportage by CCTV.com the situation will change

China has undoubtedly influenced Bitcoin, supporting the implementation of Blockchain. However, the main reason for the growth was the news about Bakkt and the closure of a large number of short positions

You couldn't make it up.

https://i.imgur.com/k068Tte.jpg

The most interesting thing will be to see how other governments react to this. They can't continue to tread water making vague threats or compliments. And what's doubly interesting is how they choose to treat Bitcoin vs 'blockchain'.

From watching all those Libra hearings there's definitely an awareness that Bitcoin could float away and be embraced elsewhere to the detriment of the US.

China's population coupled with their wealth can push the price to heaven. Anytime there is positive news from china about Cryptocurrency or blockchain, especially from the government angle, there is always a positive impact on the market. The rate at which the price of bitcoin picked is something else.

Their reputation is their key. They have enough influence to attract other countries to get along with their decisions. Due to the announcement of the Chinese President, not only the citizen in China but also in other countries are now starting to store bitcoin, they expect to have something huge will happen on its price.

We know that the actions of China affects Bitcoin price but of course China is not the only factor on the change of the price. First and foremost, Bitcoin has volatility and there are not certain times about what will happen.

As much as we want to stop thinking that bitcoin's price in the market is driven by any country, so as china, we can't deny the fact that China's reputation is very huge and powerful that their words could manipulate things. So if they declare that they will be acknowledging blockchain or they've already acknowledged blockchain and commend bitcoin for being one of its greatest customers in using a ledger, they'll surely could take part in changing and influencing people's mind.

Actually the Chinese rich like to buy imported things, often from America and Europe. They even go to a franchise known to sell imported (expensive) American goods called, wait for it... Walmart. Indeed, Walmart China sells expensive American goods that most people can't buy there.

Pharmaceutical companies have a giant gotcha, some countries (i would bet China too) simply don't acknowledge their IP, and whatever those giants make gets copied as generic brands. Neighbor India is very large in that, and quality varies. The fewer Chinese rich can afford the expensive US/EU brands, while the masses go for generics. Just like electronics and clothing.

Declaring Satoshi Chinese is a bit of a stretch, but the other points are true. All Asic production that matters is in China. Bitmain, MicroBT, Avalon, Inno, etc, all Chinese.

China's capacity to manipulate bitcoin price in the market is debatable, but they are one of the largest. No matter how much you dislike them, they are stronger than most countries, its economy far surpassed the others when it became the world's manufacturing hub.

The Chinese rich are a minority, but that minority amounts to about 1 million people. The market of rich people in China is actually larger than in any other country. Have you seen the documentary People's capitalism of China? You would be surprised what those crazy Chinese rich do, and you have seen a few of them in the cryptocurrency space...

Do you know who is going to lose from the "economic war" started by Trump? USA. The Chinese know this very well, and they can simply wait until Trump is gone. Americans on the other hand, well, i guess they are wealthy enough to cope with higher prices of everything...

I totally agree with this statement " the entire concept is in direct opposition to their own domestic ideology of control, restrictions and regulations."

Only when China allows local exchanges to operate again, I'll believe in their technocratic blockchain crap.

In the end, it's contradictory to promote blockchain while refraining projects from raising funds from investors.

Well, China is a world of contradictions...

this is more visible emphasizing the understanding of continuous adoption (propaganda) and in the end they catch many fish at once. But I don't deny they also started to do at least positive education.

so far they have always done the opposite thing on a large scale and I still believe it. Their fundamentals this time look like a "temporary control" technique for taking a stand of what is happening in the US. Then bitcoin rises dramatically? of course due to practical speculation.

Then she said;
All I can say is this to me it's a sign of begining of the nationalization of Bitcoin/Cryptocurrency related infra in  mainland

Eventually, all things can be state-owned, or at least partially (mining, ASIC, exchanges, wallets, etc etc) Link (https://twitter.com/DoveyWan/status/1188715523497791488)

However, it's nothing until proven to be true. I don't buy Chinese news regarding bitcoin, they can't control it, they can't control bitcoin users although they have banned major things related to bitcoin.

I wonder if this is true. Articles I've found also use this Twitter account as their source. It's really hard to tell what China would and wouldn't do at this point. It would also be interesting how people would react to censorship if it (potentially) favors them lol.


They do allow OTC exchanges, which is something I suppose. And the only (or at least largest) reason they banned regular exchanges is to curb capital outflows, or so they say.

I do wonder why Xi himself would publicly come out in support of blockchain tech, but we can only assume they have something big in the works. I don't think it will be good for Bitcoin.

The truth is the latest news from the president of China stating that they must assume leadership in blockchain technology has had a positive impact, there are many Chinese investors in the cryptocurrency market and with this kind of news there is more motivation and a favorable legal framework is expected for cryptocurrencies in China, where a large volume of people can use them.

I'm sorry if it sounded different to you. I admit I should have at least put a  ;D in the end to make everything about my post a bit clearer.

Thank god the top 20 pharmaceutical companies are all located in Europe and the US or else they would have contained all kinds of herbal and opium and some weird parts of weird animals like pangolin and gecko.  ;D

By the way, I am not chinese but through some modern and subtle ways of colonization I can feel that my country is made in china, too.

We knew how China move they will never act or deliver news without their own intentions to be pushed,what is very alarming here is after all their stands and denial about cryptocurrency,now they are seems to be soften their position?the question is why?and what’s the motive?for many reason I am thinking something not right for this blasted news

Don't worry man, that's why I put three smiles after the pharmaceutical stuff, it was also a joke.  ;D

But the whole everything is made in China stuff drives me nuts sometimes (not today)
Speaking from central Europe, I think that 90% of our clothes are made in India and Bangladesh. Went to a Nike store a week ago and everything there was made in India, I took the time this morning and checked, my Gillette blades are made in Poland, the foam is actually from the Uk, my shampoo in Germany and the balsam in Poland,  I got a fridge from Poland, the heating is part dutch part finish (the radiators) , the stove is Turkish, a lot of the small stuff like mixer, expresso are in Hungary, Turkey and Germany....actually I have no appliance in all the home that is made in China.

And the funny part, yeah my phone is made in China but my laptop is in Taiwan
Bottom line, nope, not everything is made in China and it simply can't and won't be.

And exaggerations like this drives people to think that China has bumped the price...

ps...
Today I learned a new thing, I was so sure that pangolins live in South America  :'(



Nice contradiction:P
Bro, China matters to the bitcoins just as much as me and you!
The country where the capital city you can die of hunger (https://www.scmp.com/tech/blockchain/article/2164589/can-you-live-cryptocurrency-china-documentary-bitcoin-girl-shows) with a phone full of bitcoins matters zero
All they do is faking, fake numbers, faking volume, faking usage, faking everything.

Recently, Bitcoin practically did not react with its price to either positive or negative news. The events that took place in China, namely: the statement of the President of China that the country will strive to become one of the leaders in implementing blockchain technology, as well as that they talked about Bitcoin and the operation of cryptocurrency on state television in China, is not significant, which could lead to a sharp increase in cryptocurrency prices. The reason for the price increase, if any, is something else.

Yep, China doesn't actually provide the cheapest option for manufacturing anymore:


A quick Google search would show articles being written about it from years ago. A lot of stuff are still made in China, but the world's dependence on them for manufacturing is gradually diminishing. The notion of everything being made in China still has some degree of truth to it now, but is mostly outdated.


I don't believe they orchestrated it, but the market has always been moved by narratives. Support from China (regardless of the authenticity being in question), which is perceived to be a huge thing by a lot of people could build hype and raise prices. No one can really say what drove it, but I'd say it's highly likely that Xi's statement was a factor.

China has contributed much to the crypto market fluctuations that occurred, when the ban on bitcoin exchangers, bitcoin prices began to fall. Continued with news of the adoption of the rising market blockchain. From this incident many perceptions arising from users, especially about the reasons China did it all.

After China have announce with legal using bitcoin and blockchain technology we are still waiting which one country want to adopt and legal for using bitcoin transaction again? have any other bigger country like United Kingdom, Japan, North Korea and Singapore want to adopt and legal bitcoin as transaction payment or not, if have many country available using bitcoin and altcoin as legal transaction payment I think will easy bitcoin raise to higer price.

However, recently we see that Bitcoin is not as active as in 2017, it is responding to various news information. Recent events in China are generally not significant. The Chinese government has previously fully supported and implemented blockchain technology, so nothing, in principle, has changed. This news is not even directly related to cryptocurrency. Therefore, I do not think that the latest news from China has affected the rise in the price of bitcoin and the entire cryptocurrency. The reason for the growth is probably different or the growth is generally caused by a number of random factors.

haha lol such a clown hypocrite they say A today and the next day say Z.
that is what will happened to anybody who thinks and acts aggresively like what china did to ban the whole thing involved bitcoin/cryptocurrency few years ago but in the end they found it something interesting recently and decided to make a bold announcement through their number 1 man in china Xi Jinping.
i don't know if it was a drama made by them , but yes i think china is well known making contradictive policies all the time.

intentionally? i think so , some people think china is pretend to be fool but the actual it is just the part of unusual politics strategy, yes politics! don't call me non sense please , you can read tons of conspiracy theory involved china all over the internet.

it probably has to do with their planned rollout of a state-backed cryptocurrency: China passes cryptography laws, laying framework for a national digital currency (https://www.abc.net.au/news/2019-10-30/china-passes-cryptography-laws-national-digital-currency/11645984)


i'm not sure that it's bad for bitcoin per se, but it looks bad for chinese citizens who will be using the currency. it will likely introduce a new level of mass financial surveillance the world has never seen before.

China was clearly pointing about adoption of blockchain technology, they dont talk about exactly to bitcoin.
And, there are no other countries who are still making a move to legalize cryptocurrency, but they remain as neutral. They are still waiting for the right time as of now

On a contrary it seems that another bull trap was created because of this Chinese presidents statements ,looking at the market until now after couple of days?does it seems to be a legit pump?i am afraid not because nothing good follow that run of more than $1k in bitcoin price and some percentage in altcoins ,I think we are heading for another correction if this is not a trap and another waiting until December to see if growth will be for us or until Halving next year

The Chinese government does not want a decentralized currency to overtake their fiat currency and they will do anything to stop the flow of money and that is what they did by banning all the exchanges and accepting blockchain does not mean they are softening their stance towards the currency part of the blockchain. The reasons are many to accept blockchain and it can be implemented elsewhere too rather than attached to a currency.

in my opinion the rise of bitcoin yesterday has something to do with the statement of the president of China who supports the blockchain. China is a strong and developed country and also the number of investors and the biggest miners of Bitcoin is also from China. so in my opinion it is not surprising that any cryptocurrency or blockchain policy taken by the Chinese government will have an impact on the price of bitcoin and altcoin.

I believe so too and I have also seen so many post that has said one or two things about this also which means big percentage of people also have this line of thought and at least for once in the history of bitcoin, we all have a reason why bitcoin price surge unlike before that we usually don’t know what caused the surge.

This media broadcast which even included the speech of the president as regards his stand for cryptocurrency really made a very great move to encourage lots of bitcoin holder and even made many people to start investing in it and I am sure that by now, India too would have already be dropping their plans to ban cryptocurrency having known that china has stepped down a little bit in his own plan of banning the blockchain projects.

There is no doubt China is the major reason behind the recent bitcoin price boost. China's president announced the Chinese government plant to adopt the blockchain technology and that is enough to change the market conditions. The people would be thinking China will be back again.   

I'm not sure that this statement made such impact on Bitcoin price. It seems that China can't decide what to actually do with Bitcoin and other cryptocurrencies, at one moment they want to ban it and at the other to support itso currently they are sending mixed signals.
However we need to make the difference because the president supported blockchain technology which is not the same as to support Bitcoin but people very often think this is the same thing.

Maybe it's a coincidence that time China explains about blockchain technology in their people is the time that bitcoin price is pump in the market which we can't say that China is the reason. We know that China is not totally support in crypto even before so I think China don't is not the reason of surprise pump yesterday. Yes we know that there's a lot of bitcoin miner in China but we can't say that they are the reason of pumping in the market.

Of course China caused a significant impact on the increase of bitcoin's price in the market.

Be reminded that the price of cryptocurrencies depend on various factors (e.g. political agendas/prohibitions, financial situation of countries, acceptance among countries, etc.) especially considering that China has the highest population which makes them the perfect candidate for miners and users. Along with its prohibition or acceptance, it will determine the outcome of the price in the market.

Before its announcement, the price of bitcoin was sitting around $7,500 and after Xi Jinping announced the acceptance of bitcoin, not only its price increased but also the stocks overall.

I don't think that this is the only reason for bitcoin to increase its price. There are more other reasons why bitcoin price suddenly increase. It is indeed that the announcement of Chinese President make an effect, but it is not the main event for the recent pump that happen in the market.

The fact that cryptocurrency especially bitcoin is not emerging in China, in my opinion, it is not just china that contributes nowadays to the price increase of bitcoin, since most of the time, people around the world are just silent about their investment. They just need a bit of a price increase to make them feel that it is now safe to invest as the market has a reason why to. But in terms of leading the price increase, yes the op is correct, as we can notice, after the news concerning China adoption to blockchain, we can see the market price increase after all.

China has really a huge impact in manipulating Bitcoin's price, remember way back 2018 they banned exchanges and other transaction related with Bitcoin, it really hit hard enough to make a downfall for crypto. And recently, president of China has endorsed Blockchain techology in his speech in fact perhaps this is the reason of sudden fluctuation.

This refers to the adoption of the blockchain and the launch of the digital currency. I think that is the most appropriate way to increase mass adoption and community, so that people will understand the benefits of digital currency. But isn't bitcoin prohibited? I think they provide an understanding of blockchain technology.

I usually report messages in other languages straight awy but for the first time in months, I actually see somebody that if not Chinese at least speaking Chinese commenting on news from China. Unfortunately, nothing too deep but you said something weird:


How does this even qualify as a trojan horse?

Other than that, if you're still around and read this, can you really confirm this news and the screenshot mentioned here:
https://bitcointalk.org/index.php?topic=5196493.msg52903637#msg52903637
was indeed about bitcoin?

From the very beginning, China is a big name of this platform, There are a lot of Chinese investors who are directly involved with this platform since the early period, In recent time, China government has published a positive statement regarding Bitcoin and Blockchain system, I think they are taking it very seriously and they have realized that their people already involved here, so the government is taking some positive initiative towards this platform, not only that but also they are making a plan to create an own cryptocurrency, So this type of news definitely work as an influential factors, So it's very clear that China has a positive impact on this Bitcoin's price.