Why isn't everyone talking about China's currency devaluation?!!

[pliv84]

This is exactly what we have all been waiting for! When fiat currency goes to sh*t, Bitcoin will go to the moon.

After China devalued it's currency twice in two days, I would have expected both more discussion in the forums, and also a huge move in the price of Bitcoin. Why not?!

China's move to devalue it's currency by 3.6% is not the last event. China will go further, and also other countries will have to respond with similar action to remain competitive in the world economy. A so called "currency war." This is very likely to be the beginning of worldwide inflation - AKA the demise of fiat. This is going to be A HUGE DEAL for Bitcoin. I really don't understand why the markets have not already responded.

[Hazir]

This is exactly what we have all been waiting for! When fiat currency goes to sh*t, Bitcoin will go to the moon.

After China devalued it's currency twice in two days, I would have expected both more discussion in the forums, and also a huge move in the price of Bitcoin. Why not?!

China's move to devalue it's currency by 3.6% is not the last event. China will go further, and also other countries will have to respond with similar action to remain competitive in the world economy. A so called "currency war." This is very likely to be the beginning of worldwide inflation - AKA the demise of fiat. This is going to be A HUGE DEAL for Bitcoin. I really don't understand why the markets have not already responded.

You are wrong. I saw some posts about devaluation of Yuan in the Economic section, you just need to find the right topic. People of bitcointalk are concerned as well while general public are either oblivious to this move or does not care. So far there are literally any bitcoin price rise (on the contrary bitcoin price dropped a little) caused by this, and I wonder if that devaluation was that severe as people thought it was.

[pedrog]

Well, you talk like a true prophet of the apocalypse.

No one is talking about it because no ones cares, the ones who care don't understand shit about economics and think this is the end of the world as we know it when it's just another boring Wednesday.

[Paashaas]

So much doom porn these day's, i dont believed it anymore. The're hyping the schit out off it, only to increase there userbase, it's always the same and ends the same; business as usual.

The lastest hype doom porn was Grexit, Euro-collapse, stock market crash of epic proportions followed with a huge war. Ppl where adviced to stock of loads of food/water en guns wich wasn't needed after all and all that food is at this time over-date..lol.

[spazzdla]

We've been in a currency war for a few years.. just some big arty going off past couple days, no big deal.  Wait till merica starts firing their guns then things will get interesting.

[alva5763]

Devaluation of the yuan affects fiat but bitcoin is not an established monetary unit on the financial markets eg how many stock exchanges accept bitcoin?

[willope]

Because China devalued the yuan against dollars. AAAnd, people in China don't give a shit about US dollars. Yesterday they bought a brad with the same amount of money than today or tomorrow. The internal market of China hasn't changed at all.

[funkenstein]

Because China devalued the yuan against dollars. AAAnd, people in China don't give a shit about US dollars. Yesterday they bought a brad with the same amount of money than today or tomorrow. The internal market of China hasn't changed at all.

True, except they are used to massive inflation over there already, even worse than occupied north america. 

[Harry Hood]

A so called "currency war." This is very likely to be the beginning of worldwide inflation - AKA the demise of fiat.

This is going to be A HUGE DEAL for Bitcoin. I really don't understand why the markets have not already responded.

I was with you until "AKA the demise of fiat". For fiat to go away Governments and their respective Countries will also have to see their demise - is that what you're predicting?

It's not going to happen and if it did there would be so much chaos that Bitcoin would potentially have little value - remember that for bitcoin to have value we need order and access to the original blockchain, the internet.

[Insertion]

They have devalued their currency second day also. this change will surely hurt USA companies that do a lot of business inside china, like apple and coca-cola. the Chinese economy has been weak, they have tried in many ways to boost their economy but nothing has worked that well. So now they’re turning to the currency as an added boost.