Let China do their own thing!

The longer the Bitcoin community in America, Europe, etc. keeps their eyes glued on China the more drawn out the situation will be. The situation is very different in China and it is ridiculous to maintain this "China leads" attitude. Up until October this year it was not "China leads" but "China follows", and people should revert to this attitude (non-chauvinistic, just common sense relating to Bitcoin) straight away. Be brave for crying out loud and stand on your own two patriotic feet! (Ahem) Was this what Bitcoin was meant to be about? China?

There are already the first signs that we are becoming resistant the China effect - nourish these shoots of hope and dash the FUD on the rocks, people!

Think about Facebook: just because it's banned in China should we all close our Facebook accounts? (Erm... maybe that wasn't the best example)

But seriously, get back to thinking about how amazingly far Bitcoin has come - no one thought it possible - and how far it still has to go in so many places all over the world.

Thank you... Thank you...

Quote from: T.Stuart on December 30, 2013, 03:02:16 PM

I agree let's go back to "china follows". Well wipe the slate clean starring with another crash into the $400s and see where that leads.

Quote from: TERA on December 30, 2013, 03:09:36 PM

I agree let's go back to "china follows". Well wipe the slate clean starring with another crash into the $400s and see where that leads.
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Whatever it takes but its time to move on mentally ASAP.

China's always been following. Throwing money at something doesn't make you 'lead' anything.

They are trying hoard BTC. However, this is a fallacy in a sense that those who can do so competitively within china already have that money to blow while those who cannot will be lucky if they can even see the crumbs off the table.

This will eventually result in net loss for china as money is being spent on a non-chinese source of commodity that the rest of the world holds much greater sway on.

Bitcoin is still vastly undervalued. Let weak hands take the damage. Let the fools run after China and what not. This is just nature sorting things out.

Quote from: Hyena on December 30, 2013, 03:59:54 PM

Bitcoin is still vastly undervalued. Let weak hands take the damage. Let the fools run after China and what not. This is just nature sorting things out.

The fools will always run after the scraps that are thrown at them in this sub-forum

I have introduced dozens of Chinese people to bitcoin in the past few weeks since the government announced its regulations, and have gotten one restaurant (in a city other than Beijing or Shanghai) to accept bitcoin payments. Small steps, but bitcoin is not dead in China yet.

Quote from: Siegfried on December 31, 2013, 12:20:48 AM

That's good to hear, and I would feel the same way if you were in any other country.

But Bitcoiners big and small need to stop pinning their hopes on China. This doesn't require a blind leap of faith; the attitude just isn't realistic at the moment as right now Bitcoin does not need one particular country on board to grow much bigger.