Bitcoin Forum

we have seen the same FUD that has been spread over the past month for the past years too. they don't even change the contents or make any new effort, it is all the same and yet people react to it the same exact way by handing over their bitcoins to whales.

i am wondering how many more times are we going to see the same "China banned bitcoin" FUD before people stop reacting to it?
or is the market cursed and for the next 100 years we are going to see China ban bitcoin every year and people panic sell :D how many times can a country ban bitcoin anyways?

Is there a theory that you'll always have a greater supply "stupid" people, then ones who'll learn...

I don't even know what's going on atm because all I look at for problems with my investments is mainstream media - they'll report the big stuff you need to worry about anyway. Probably a lesson in that...

It's weird anyone cares about China banning stuff, I don't think China has near half the hashrate anymore? Bitmain have put operations in texas and somewhere in Europe. Even if half the hashrate is Chinese, that's just 20 minute blocks instead of 10 minute ones while the people in China work out their moving plans.

Shouldn't it go the other way? Fewer bitcoins mined (at least until the next diff adjustment), lower supply, less dumping by miners to pay their electric bills.

This will never end.

FUD is always started with people that a new to cryptocurrency. Old crypto enthusiasts know, that the price will most likely recover. But newbies never experienced the path of "drop from 20k to 4k and a recovery to 60k bucks". Why it will never end? Because newbies wont stop bringing fresh money to crypto. It is a cycle of newbie-money-FUD.

but we should expect that those who are already old in this market to know this and the market be mature enough that their panic sell doesn't cause big changes like we are seeing today.
are you suggesting that bitcoin market doesn't or cannot mature over time?

Honestly , easier said than done!

People investing in crypto don't only do this financially, there is an aspect of emotion that's invested too,so it makes many people vulnerable to FUD but this will always remain a learning curve for those that survive it, as they are unlikely to fall for it the next time it happens.

Stay strong hodlers and take that FUD antidote to survive this blizzard :).

They'll keep on using it as long as there are a lot of people buying it.

I guess we're now going to see another surge once this huge correction is done. This is getting more excited than what the usual people see the drops of bitcoin.

For those people that are discouraged with the drop, look at the brighter side.  8)

Hmm, this doesn't bode well!

https://haschinabannedbitcoin.com

Maybe who already seen it think it is common thing. But in other side, there are a lot of new people too that joined crypto community and maybe a lot of them don't really see what happened in past. That is can be seen in some forum, or maybe social media when there are some people still discuss about that "china ban bitcoin" thing.

I dont think most people fall for the FUD and panic sell. Most of them think if I sell now I buy back lower. And if everybody does this after a FUD we see what happens. There are always some speculators who sell the bottom of the FUD and then go on the web and start talking about 6K Bitcoins lol.

There are just way too many people who think that every fall will be the end of bitcoin and they are very wrong, this is why there are just way too many people who get out of crypto world the moment it drops and they claim that bitcoin is a scam all over the world.

The main problem begins with when they come, during the bull run they do not come in at the 10k mark, they do not even come at the 20k mark, most new people came in when things started to get super high, a lot of people came in after the 40k mark, it wasn't like a small number of people neither, the increase in buying of bitcoin after 40k is just insane. It means that there are now people who bought bitcoin for the first time ever after hearing about it for years, and then they lost their money in a month or two, that is just the way it is and the reason why they are scared and selling is that they bought at the wrong time.

We would continue to see like this whenever there are FUDS that do circle around in the market as if people never gets learn on the things in the past.
As long there would be involvement with big and known countries on a certain issue then its just really hard to tell the market or community that they shouldnt react because its just normal that the market would really be shaken off by something and it is just that we cant just ignore and tell that well
it wouldnt affect the market anyway but when the time that the price is start to fall down without any reason then this is where we do usually reacts.

The "FUD" is the real news and the non-FUD-news is the fake news. That's the important fact to remember about bitcoin world.

I think this will never end IMO, as long as there are always newcomers in the market, expecting that there's a new holder of Bitcoin will get FUD and others also followed because as what they heard in news.  In fact, they don't even know how it will work upon investing in crypto and the cycle will always be repeated every time when there's a newcomer come.

We can't blame them because they are here knowing they will easily get rich without proper knowledge about Bitcoin.  They will think that it's the end of Bitcoin when they saw a long drop in the price, they don't even think that it is a great opportunity to reinvest and hold.

We might stop calling it fud because large miners are really being pushed out of China. There are evidences that they are moving to Kazahkstan, America and other places.

However, despite this bad news this whale of the mainstream market appear to be bullish on bitcoin. Ark Invest bought Coinbase stock and Grayscale Bitcoin Trust stock during the big dump.



Buy   COIN   COINBASE GLOBAL INC   214,718
Buy   GBTC   GRAYSCALE BITCOIN TRUST BTC   1,046,002

Source https://247wallst.com/investing/2021/06/23/cathie-woods-ark-invest-buys-for-6-22/

I don't think that these people will ever learn a thing or two because they have been so accustomed to panic that everytime the prices go down, they automatically sell their portfolio.

FUD makes newbie investors move, traders who know how to take advantage of it also move, which is probably what really happened. That, or what you said honestly. I'd rather believe the former since I still believe humanity still holds that bit of intelligence. I mean, the FUD here is that miners leaving China should affect Bitcoin when in fact, miners would just migrate to other countries and the process would still be fine and all. It shouldn't affect Bitcoin at all, nor should investors and traders be afraid that China banning crypto mining negatively affects Bitcoin.

Nothing is real in this world. We all live in a simulated environment. Life is a simulation, reality is an illusion. That's why this world isn't real. It's a virtual world. We are merely entertainment, nothing more.

People who already joined in the crypto will not fall from the bad news, but I am worried that new people who do not have much experience in crypto will fall because they can panic to see what is happening in the market. They do not feel confident of holding and worrying when they see the price is falling and nothing they can think of except selling their coin before it's going down for more. We can not blame them for doing that because that is out of our control and if they can learn about holding their bitcoin from the bad news and use the moment to buy bitcoin at a low price, they will get the benefits later.

For sure.

Unfortunately, the reason why people are still panicking over this type of news is that they have been so heavily levered up during the run-up to the bull market peak that they are now forced to unwind some of these positions.

Essentially, people are playing with money that they never could afford to lose in the first place, which is obviously a big no-go in investing. I have heard so many of my friends and acquaintances talk about absurd amounts that they have dropped on cryptocoins that they just think "sound cool". When you don't even understand what you're buying into, there is no way that you are able to hold onto that investment no matter how strong the fundamentals are.

nobody said miners moving out of China is the FUD. the FUD part that causes panic is when they say that this migration is going to mess up bitcoin (they go as far as saying kill bitcoin) and saying it is a logical move to sell it!
and it is not just the FUD, we are talking about a bigger market manipulation at work with FUD on top. all the dumping that starts by the manipulators or the fake big sell walls that kept moving up as price kept rising.

Miners can move as well as sell, when they sell they are not selling it to a garbage, they are selling it to other people and those miners will still work and protect the system anyway, blockchain will be fine. And if they just move it? Well all the same. All that is going on right now is a break period where miners will or already not working and eventually move or sell they will once again start to work and make a difference in the blockchain. That is why I believe that is not the reason of the FUD, miners could do whatever they want and it will not matter.

The only time we should care about the miners would be during halving because that always comes out as a bull run sign, has been for the past 3 halvings and I am sure it will on the fourth one as well. That is just how it works, miners only cared during halvings and all other times totally ignored.

today's news:

Chinese Bitcoin miners ‘not even in the mood to drink anymore’ (https://cointelegraph.com/news/chinese-bitcoin-miners-not-even-in-the-mood-to-drink-anymore)


life must be very difficult for the miners who were doing mining business in china, and this situation is something understandable that many people start selling their bitcoins to take profits and buy in a possible price drop, we also have to take considering that someone is Chinese and did this mining business in china and that person doesn't want to leave china so that person can sell their bitcoins to do another business or pay bills in the real world

^^ Who wouldn't be in the mood to drink? there is nothing to celebrate when you see your business giving you so much profit in the last 8 years or so suddenly went into a halt because your government doesn't want you to continue your business because of 'implications".  :)

For sure majority of them can't get out of China to continue mining, so the only options is to sell some bitcoin to bring food into the table for their families. Not sure what alternatives for these Chinese miners right now.

I don't think that people are going to learn anything about FUD, they will probably fall for it all the time since they have fallen for it many times already. There's still hope for some of them though as any kind of people, they will still be able to learn and understand information, it's just a matter of open mindedness.

It's not that we don't learn, it's just that we will find it very difficult to distinguish news that contains FUD elements only and news that is truly enlightening. imagine the news coming out of the mainstream media, and we take it for granted. does that mean we should not easily believe the news? That's right, we need to identify, seek, and research the truth of the news.

The problem is that not everyone has such intelligent thoughts. in fact we often swallow that statement without having to delve into it any further.

FUD has become a strategy for high-ranking officials to recognize huge profit, and the victims are not ordinary people, they can be artists, investors, entrepreneurs, and worse, people who only think the news is the truth.

Be it an old one or a beginner, caution must be applied and alertness is the best way. It's just that their version of responding to Fud is different, depending on the experience and knowledge aspect of the year-to-year cycle of how crypto growth started.
and our task is to be a pioneer so that we can provide these insights, both in this forum and those around us who have started to get to know Crypto.
sometimes insight into crypto is used as routine learning. I believe beginners will gradually adapt to market conditions, Fud, and news news that threaten their portfolio.

I think that this kind of news won't have any effect on the market at some point. As you said, China have banned Bitcoin many times so far. And they will maintain this loop for years, I'm sure of it.  ;D  But it will lose its effect on the market slowly in time I believe.

Reaction would really vary on how someone is being too experienced in the market on which when you are already aware then you would know on what you do gonna do compared into those first timers who hadnt actually able to experience these situations.

Actions would be made will be depending on how much you've been aware on this market because if you had been on this market for a while now then
you are much pretty aware on what would possibly happen next.

People never ever learn? Its common even us experienced ones would fall out on the same emotion and reaction no matter how many times we had experienced it.

But the actions of the majority still affect the price even most people knows that its only a fud.

And there are lot of someone who got a hell of a fortune in every dump like this.

I do believe that there is a good chance that we may not end up with something as radical as that anymore. If they end up having this hardship but then they could just find another way that means they are going to feel a lot better. I hear Georgia has cheap electricity (the nation and not the state!) and that means if all the miners move to Georgia not only they will get out of Chinese rule, but they would also be able to run their business uninterrupted and even get support from nation since they would pay soooo much taxes.

This is why I believe all the miners in china should run away with their nations to some other nation, would be a lot better. Why stay in a dictatorship who gets half of your money and own half of your business and tell you what you do and you have no chance to even say anything back because you would be murdered, just go to a democratic nation and feel at ease.

There is not a single answer for that, for many of us we either learned the lesson the hard way or we never fell on it, however many people are new to the market and have not experimented this so it is natural they fall at least once for it, as long as they learn I am not worried about them, however there is a portion of those newbies which I think is the majority that not only fell on this FUD they will keep doing it and will never learn anything and will only stop losing money once their capital reaches zero.

There would be only two possible way which is;

1.Profit taking
2.Fud results or effects

There are indeed lots who are really making money on times like this and of course to those people whom do see this as an opportunity to buy cheaper coins.

You would eventually understand on how the market works when you had already gained sufficient experience and knowledge of it.

The FUD will never end. Well, this is so silly but in fact, there will be other FUD that is spreading around the world because there are still many people who don't like crypto.
And about the impact of FUD itself, we cannot determine for ourselves. FUD will really give a certain impact on the crypto market. And for individuals, some are triggered by the FUD and become panic to sell which leads to the price dropped very easily. But, some are strong enough and have been usual with the FUD, so no panic sell or buy. Just be yourself and respond to face every FUD and FOMO in crypto.

Fuds always exist when there a bad news or even good news in the crypto space wherein they will never stop doing stupid things and spreading negative because that's how they work in here. I dont know if someone paying for them because it's literally a waste of time in my opinion. Just imagine instead of spreading good news they are always preferred to share bad news just to make the situation worse. how they can get benefits on that way?

For as long as there are newbies, emotionals, and weak hands, this cycle won't stop. This is an old yet recycled FUD and many of us might not fall for it anymore. But to those who have just gotten into the bandwagon, for example, this thing is rather new to them and they might react to it as if it is something huge and shocking.

Take, for example, the big price swings. Many newbies panic in the face of it. But to us who have been here for quite a while, it's not a big deal anymore. We've been familiar with the ride.