Bitcoin Forum

Based on the following, I'm assuming the so-called continued crackdown on crypto in China is becoming less and less relevant if users are merely moving away from Chinese exchanges. Anyone have more understanding of this? It also seems that China changes it's mind so often that almost nothing legally sticks in the end anyway.

https://static.coindesk.com/wp-content/uploads/2020/11/photo_2020-11-11-10.44.53-775x358.jpeg


Source: https://www.coindesk.com/china-exchanges-crackdown-binance-huobi-okex

I still remember the "China FUD" in the past, it used to be one of the worst types of FUD I thought. Now it just reads like old news going round in a circle again.

News hasn't really effected the price of Bitcoin at all the last couple of years.

The crash in March this year was a liquidity crisis on all markets; people wanted fiat because of the COVID madness.

The hodlers with true conviction have just been stacking like crazy.

It's going to get volatile again no doubt (20-30% crashes in a day), but in the end it won't matter.

Any news, positive or negative, tends to be good for Bitcoin.'

Honey Badger don't care ;)

China with their regular banning & unbanning of bitcoin used to have a big effect on the price. I don’t think anybody cares any more, the shock value in what China does or doesn’t do in relation to bitcoin doesn’t really cause an impact these days.

Big mining pools are in China but there are very little bitcoin full nodes from China. With 9088 full nodes, total nodes come from China are 186.

If anything bad happens in China, for crypto regulations or for mining pools: shutdowns or restrictions or 51% hashrate centralization, miners will switch to other pools and exchanges will move their main offices and licenses in other nations.

Do you forget the Xi pump last year? After 3 years of FUDs from China, bans on crypto, Xi-news is a nuclear bomb to help bitcoin took off. Don't forget it.
https://bitaps.com/

There's a good chance that the influx of US corporate buyers make China FUD matter much less.
But if I'd trade I'd still be careful with it, since if the stars align correctly their FUD may matter on the markets (even if it'll be for shorter time).

This is a great question and personally a great topic to revisit for myself.  One of the first questions I came on here and asked was about the effects of China banning cryptocurrency.  Back when every time China said anything about bitcoin or crypto the value would either drop or rise significantly.  Anymore today I'm with you and the chart..I don't think it matters at all.  Bitcoin and crypto has become too global, mainstream, and is much bigger than just one country.

China dominated the BTCitcoin market for a long time and majority of the trading volume comes from China and so is the reason anything that comes out from China had an impact on the entire market and the FUD was mainly whenever the market was moving higher and that would halt the movement and we usually see a correction. The ban from the Chinese government was a blessing in disguise for the entire market as it helped the market move away from its clutches ;D. 

At this point we all know China as the grumpy party pooper in the cryptocurrency fiesta. Despite that, they still have an awful amount of traction especially from the newbie demographic. These people are the easiest to sway and persuade. For veterans, we already know how things roll so we are not easily swayed. And with the coming if new investors brought about by the pandemic, they're going to do things to have these people be convinced to not invest or dump.

Regarding the China FUD, if any of you guys are using Binance, have you guys withdraw your funds to a different exchange if your interested in selling when the price reaches ATH?

I believe China FUD became irrelevant a long time ago, we've already saw some attempts to restrict mining and trading in the past few years, and it didn't lead to any bear markets. China might still have a lot of mining, but they aren't a big player in crypto world, they don't have a lot of adoption. If the US or EU made a move against Bitcoin, that would be much more serious, because it would be both new and a lot of adoption, even if it's only adoption as an investment, is coming from these regions.

From what I understand the majority of Bitcoin mining takes place in China nowadays, but I don't think any news of China either cracking down or welcoming/accepting Bitcoin more will have much of an effect on the price. The knowledge of Bitcoin has spread worldwide and it is now nearly a household name. I think if anything, China cracking down on Bitcoin more would only help to increase the price as the news would catch more people's attention and they might think- "If the communist government of China is trying to shut down this whole Bitcoin thing then it must be something of revolutionary ideals that's worth looking into." Just my 2 cents.

It depends on what cycle we have, right now we are in the bullish sentiments, so no matter what negative news we got not just coming from China, it doesn't matter and it doesn't affect the price negatively. And I guess the market and the investors mature already, if this is 2017, I'm sure that those kind of news will have a dent in the market as soon as it is released to the public. But not today, we have come along way that we just shrugged it off, rolling our eyes over, but that's it.

A good test case is the $1 Billion in Bitcoin Moved, Making It the Largest Dollar Value Crypto Transaction in History (https://blockchain.news/news/1-billion-bitcoin-moved-making-largest-dollar-value-crypto-transaction-history). Damn, if that coin moves in 2017, and then later on we know that US files a civil action to that hackers to forfeit and seize? I wouldn't be surprised if the price nose dive to -30% or more following that news.

First of all, the news writer totally doesn't understand what happened to the Huobi COO cause he was not missing but he was actually arrested by the Chinese police just like they did to OKEx founder.
With that been said, the best thing every crypto investors and traders can do is to stay away from every China exchange site but I still don't understand is what gave them the power to arrest the official of an exchange that is not licensed by the Chinese government and also not operating on their soil ever the 2017 issue.

The only FUD that can really affect us is that the Chinese totally shutdowns bitcoin mining. But other than that, since they already made a U-turn on bitcoin and just embraces the technology behind and altcoins/shitcoins.

https://www.chainnews.com/articles/647805801818.htm

Bitcoin is not even in there top ten, lol, and I'm sure the next reports will show bitcoin perhaps in the 15-20 spot. So it just shows that they are no longer in the bitcoin bandwagon, or at least that's what the message the government is trying to send the us.

Well, they know what is the situation in China. And despite saying that they are banning crypto in their area but wondering why there are exchangers still working. We know also that China is very influential and their capability to manipulate people has proven enough. FUD's could still be working, those newcomers will certainly be victims to this scheme and do the panic selling. But the effect is not likely the same as what happens before. Many had already learned from China and only those people who know nothing will be affected.

People are already tired of what they want with crypto.
So right now, don't think it will matter to the crypto community.
They can basically do what they want, and the crypto community will not bother them.


Chinese have different mentality when it comes to business.
So there's really no surprise if there are still big Chinese exchanges that are still operating.
And don't be surprise if tomorrow, we will hear from them about accepting crypto in their system.

We don't know until it happens once again. Perhaps if the FUD is grounded on rumors just like in the past, it won't matter much. But if the FUD is founded upon an actual stricter state policy and serious crackdown actions by the Chinese government, I think it matters still. Bitcoin's strength is growing in so many countries but the Chinese market is admittedly large enough that it is expected to cause some significant movements in the price.

FUD has always been here and will always be in this market in the future. the subject of it changes but the principles are the same. it doesn't even have to be "China" but any other country as we have seen in the past. for instance in the past couple of months they literary replaced the word China with the word USA and released the same exact nonsense FUD.
it is always an attempt to cause panic sells, and sometimes it is successful and sometimes it fails. the important thing is that it will never affect anything in the long run.

you can't make this claim because you are NOT looking at all bitcoin nodes. you are just looking at those which you can see aka the reachable nodes. 90% of bitcoin full nodes don't accept incoming connections which means you won't see them.
the number of bitcoin full nodes is estimated to be around 100k.

People have developed some sort of "immunity" just like how our bodies gets immune to some illnesses. I'm not a medical expert hehe.

You can also add the fact that they have been working on the CBDC and they probably closer to rolling it out to the entire country.

It doesn't have to be a country also. Some financial institutions or some big shot traditional investors creating FUD just so they can buy more BTC at a discount.

the FUD is not created by the big shot investors, countries,etc. it can simply be created by any small time newbie and then spread and become big. years ago someone saw the big numbers the Chinese exchanges reported as their volume and started the trend of "China controls bitcoin" FUD. about 6 months ago someone saw a similarity between bitcoin and stock market for 24 hours and started the FUD that "bitcoin follows stocks and will be dumped whenever stock market dumps".
all you have to do is make it intriguing and post it on the internet, next thing you know all the news sites that are desperate for traffic are writing about that FUD!

As of now, it seems to me that we now over the influence of the Chinese governments as to the price movement of Bitcoin. Or it can be because for the past many months the government has not made any pronouncement relevant to it. However, I also believe that the market has been already wary of the influence which news from China on cryptocurrency. In other worlds, we are fully tired of them and we are not anymore listening though we are still recognizing the fact that many Chinese are holding vast amount of Bitcoin and their actions can still sway the market to go up or down and the fact that Bitcoin mining is still lead by China.

I guess it got blown over already, and any type of similar news would similarly have the same ending. Not to mention that China is advocating for its own cryptocurrency no? Not that I've heard much news about it recently though. Not to mention that the number of exchanges is increasing more and more, and well, if I were them, I'd develop the exchanges to ones that can operate in a global scale. With that, I'd really doubt that crackdowns in china would matter much. Besides, one way or another, FUD is just hyped up news of an event that literally contains about 1% truth. The majority of them are just over-exaggeration of the reality, mainly so that it can actually be called as "news".

Base on the movement of the market, the kind of news like this won't matter that much anymore in the crypto industry. However, they have some better ways to hide the main reason for his disappearance and most of the crypto users leave nothing but to speculate. Okex exchange, on the other hand, has something fishy with their exchanges, they don't give us a valid reason on why our funds stuck on their exchange. there are rumors that this Huobi incident links to what is happening in the Okex exchange right now where they disable the withdrawal for about a month now. Anyway, that just some rumors but still, we want to know the truth.

https://i.ibb.co/FYkcmMH/Screenshot-1.jpg

China FUD is always metter due to the market specific. Everyone scare any FUD in the industry so much that any bad news from china could stop this run and cause big dump

The FUD always have impact one way or the other but what I have noticed since the beginning of this pandemic is that there has been no FUD from them much. I guess they are focused on the health sector than the digital currency world.
The only FUD can be anything about mining which would cause negative impact on BTC because there are lot of miners from there part.

In the past, news related to China being banned by Bitcoin affected the price of Bitcoin, but after Bitcoin became more popular
and several countries legalized Bitcoin. Even some big companies accept Bitcoin, now China FUD is not a problem anymore.
Because many Bitcoin holders don't care about it. So whatever happens in China regarding Bitcoin doesn't have too big an effect
on Bitcoin's price movements anymore.

In my opinion this will not affect Bitcoin, because there is a lot of news about FUD for Bitcoin, especially from China, always seen when the price of Bitcoin goes up there will definitely be news about FUD but all the news they spread has not had a bad impact with Bitcoin until now . So don't panic too much about this FUD news about Bitcoin.

No one cares about any nation's negative perception of bitcoin.  People are wiser now to know that bitcoin is leading the next financial revolution. Holders don't want to be lied to again. Bitcoin always come stronger after every dump, it has proved to be the most profitable investment these days, outperforming gold and silver.

China's strategy to create fear amongst crypto users about their (China's) possession of BTC has turned old and already known to many users. I believe that the negative influence China had on the users was because it probably controlled more than 50% of the total mining hash power, but now things are under control and everything has been spread out. So there's nothing much to worry about.

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Honestly, I'm not a user of okex but I've heard a lot about them before, and it's quite shocking that they've kept their users' funds under their possession for more than a month. Doesn't it look like a scam already happened and they are trying to hide it? I mean, an exchange hack or if that guy Robin may have run away with their funds?

Not really.

I remember Chiese FUD from 2015 and it was all about exchanges being shut down. First they were planning to ban Bitcoin then banned only exchanges, then there were rumors about mining bans and such.

These news mattered for 2 reasons.
1. There were still big exchanges in China and a lot of trading volume came from there. Not anymore.
2. People believed in the news because they thought it could be real but the more of it was disproved the less people reacted to the new ones.

No Chinese users on Bitcointalk to give us an idea of what's going on ? Surely BTC users in China are familiar with using VPNs and the like so I'm surprised nobody is here, or maybe they're incognito.

'

Im aint fan of comparing bitcoin to other traditional investment specially with natural resources that can be found on earth and have that significant value.It is in completely different area imho.

In talks about China FUD then i can say that we are little bit get used to it or even safe to say that we dont really care at all.We've seen in the past that their decisions goes back and forth in regards
to ban and then revoking such law then goes again.

Knowing that theyre one of the main players when it comes to mining industry.They can ban all they want but this market would remain still and this one cant really be controlled off.

We can't deny that China really has greatly impact Bitcoin but that won't be long. China FUD can still affect Bitcoin in some ways but that doesn't really mean it will significantly change Bitcoin. BTC dominance is spreading in different areas, sooner or later we'll have Chinas dominance insignificant.

I think for now, their FUD still matters if they timed it right.

I do not get their government cracking down on bitcoin when they have a state owned bitcoin farm that mines a lot of bitcoin. I agree about the indifference of many people about China's side on bitcoin, good thing that the adoption is spreading around the globe like a wildfire albeit a slow one.

China really doesn't matter in global landscape anymore in any front and definitely not on the crypto scene. Since ages, the Chinese government has tried to bully and threaten their neighbors. Tried to take over the lands and oppressed certain minority communities by throwing them into the jail and so on... The world is slowly started resisting against them and this movement will gain more and more traction in coming years. So the world has started ignoring China for good!

China was never positive about cryptocurrencies and they are the first country to ban ICOs. Now when they have realized that they can't control bitcoin, they are simply abducting the key people from the crypto exchanges. I have been diligently avoiding any Chinese exchange since last few years. And the pricing trend shows that the world will also not give in to China's dismissals. They don't matter anymore! 

 

Chinese government always want their development to see in the top list their main motto is to focus on "Yuan" However BTCs domination is extremely high like BTC they wanted to see Yuan as a more popular coin in the world, Unfortunately this is not going to happen in my personal opinion but still Chinese FUDs are impacting BTC undoubtedly. If they legalize I am sure BTC price will go over the moon.

I like FUD from China, this is a sign where the whale wants to accumulate the Bitcoin price below,
because it is certain that Bitcoin will reach a new all time high, the correction is also quite deep,
the Bitcoin price is below $ 16000 again.

The Chinese government has probably realized that it is impossible to ban a decentralized asset such as Bitcoin. In order to ban Bitcoin, they need to shut down the internet. So they have restricted the exchange of cryptocurrency with fiat cash and seems to be satisfied with the results. The local users have discovered the loophole and instead of fiat, they are using stablecoins such as USDT and BUSD.

The past FUD about china banning crypto becaming trending issue due to the large contribution of the Chinese toward the crypto market. People believe such event might lead to great crash in the price of bitcoin. However, it is becoming like the owe story is an hoax. I could remember a lot of miners were said to be in china and they also pay tax and they are not mining illegally. Which means crypto is part of the area in which china are also generating revenue. No matter how small the revenue generated from it is, it is becoming evident that China is not likely to ban crypto

And they have introduce digital Yuan to boot.

I think what they wanted against bitcoin is the 'capital flight', because we all know that with bitcoin and crypto, you can simply hedge your wealth to it, put in your hardware wallet and exchange outside of the country.

That's why they really attack bitcoin and make a hard line stance, threatening to ban bitcoin mining, ban ICO's imposed fees on bitcoin exchanges in 2017. But even after that although it has created a big impact on the price back then. But right now a news coming from China doesn't have 'jolt' anymore.

Fud now becomes no impact little by little because this community are learning and since FUD from the past makes the market shaking and fell badly,now those are just a hearsay and no impact at all.

We are more mature now.

Actually when I was new here?i am always being affected of those Fud and instead of Holding I am forced to withdraw not knowing that Whales are just manipulating the system.

If they want to stop the capital flight, then they need to stop manipulating their stock market and the national currency. Forcing the citizens to make investments in overpriced assets is not going to work. Thousands of Chinese investors are renouncing their passports and migrating to Western nations every year. Their stupid anti-Bitcoin policies will worsen this situation even further.