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Author Topic: Will the Chinese turn into Bitcoin after the this stock market crisis?  (Read 1390 times)
Argwai96
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July 09, 2015, 04:24:12 AM
 #1

With all the attention on Greece the Chinese stock market crash has gone by pretty silent.

The Shanghai Composite dropped 3% at the opening bell, but quickly reversed course and jumped into positive territory. The index couldn't hold onto the upward momentum, however, and was flat after roughly an hour and half of trading.

The smaller Shenzhen Composite and Hong Kong's Hang Seng fared better, gaining around 2% after a slow start.

Since June 12, the Shanghai Composite has lost an unnerving 32%. The Shenzhen market, which has more tech companies and is often compared to America's Nasdaq index, is down more than 40% over the same period.

http://money.cnn.com/2015/07/08/investing/china-stock-market-crash/index.html

Will the Chinese turn into bitcoin after this?
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July 09, 2015, 07:33:19 AM
 #2

The answer is no, all the money out of stock market are waiting for the low price and run into it again

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July 09, 2015, 07:40:52 AM
 #3

i think it is possible but not all the way. chinese has been in bitcoin market for some time now, and i think it is safe to assume that now that the stock market is at a bad stage some of the investors might turn to bitcoin as an investment.
but most probably the large amount of them would wait for a better opportunity to go back in the stock market again at lower prices.

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EternalWingsofGod
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July 09, 2015, 07:51:35 AM
 #4

It's hard to estimate the demand however it is possible to see some of the equity trickle into Bitcoin by individuals as they stay the hell out of the present market.

An FT article summarizes the Chinese pattern
“According to my friends who go to casinos and watch the Chinese gamble, they tend to jump on a ‘trend’ such as red coming up on the roulette table repeatedly — never mind that the odds are only ever 50-50. Red is seen as hot and therefore the way to bet. That carries over into trading styles. …”
http://www.marketwatch.com/story/chinas-stock-market-crash-is-just-beginning-2015-07-08?page=2

gkv9
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July 09, 2015, 08:01:10 AM
 #5

The title should be "Will the chinese turn into Bitcoins after the this stock market crisis?" so I FTFY...
And no, there seems that you are trying to clash their crisis with Greece, but there doesn't seem any possibility or reasons for Chinese to turn back to Bitcoins, I guess they are already in Bitcoins but playing safely rather than those old-school pump-dump games...

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July 09, 2015, 08:12:33 AM
 #6

The stock market in China is so inflated that if anyone got in early enough and got out now they'd still be ok. As it drops the more they'll jump out but there's still a long way down to go.
They will remain Chinese though. And if anything it looks like they'll go litecoin  Tongue

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July 09, 2015, 08:28:18 AM
 #7

i don't believe so, they were in a huge bubble, and now it's crashed, they were at double the value since their bubble started, so there isn't exactly a loss

also they already control 60% of the mining activity, so everyone who is interested in bitcoin in china, has already bitcoin in his pockets
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July 09, 2015, 09:36:07 AM
 #8

i don't believe so, they were in a huge bubble, and now it's crashed, they were at double the value since their bubble started, so there isn't exactly a loss

also they already control 60% of the mining activity, so everyone who is interested in bitcoin in china, has already bitcoin in his pockets

Are Chinese actually the most important part of Bitcoins???
I mean I have seen many people talking about Chinese mostly whenever it comes to Bitcoins...
So, does that mean that if they decide to get out of this, then Bitcoin will become a total mess for everyone who are possessing them???

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July 09, 2015, 09:46:24 AM
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The Chinese have the biggest part at the moment in mining. If they choose to stop, nothing will get messy, it might take some time before the mining power  is up to par again and the difficulty is reset to the new amount of hashing power available. No need to worry at all.

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July 09, 2015, 09:46:54 AM
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i don't believe so, they were in a huge bubble, and now it's crashed, they were at double the value since their bubble started, so there isn't exactly a loss

also they already control 60% of the mining activity, so everyone who is interested in bitcoin in china, has already bitcoin in his pockets

Are Chinese actually the most important part of Bitcoins???
I mean I have seen many people talking about Chinese mostly whenever it comes to Bitcoins...
So, does that mean that if they decide to get out of this, then Bitcoin will become a total mess for everyone who are possessing them???

yeah they seems very interested in the profit to be made out of bitcoin not in bitcoin itself, i'm sure they will not leave as long as there is profit

if we imagines a huge price drop ,that will force 60% of chinese to go out, then everyone else will leave bitcoin as well, at least for the mining until the diff can match the price as usual
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July 09, 2015, 11:20:46 AM
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The Chinese have the biggest part at the moment in mining. If they choose to stop, nothing will get messy, it might take some time before the mining power  is up to par again and the difficulty is reset to the new amount of hashing power available. No need to worry at all.

Only mining??? I thought that as people are talking "Chinese" all the time, the Chinese must be the creators and supplemental to Bitcoins and no one else exist except them to continue the cryptographic world...


i don't believe so, they were in a huge bubble, and now it's crashed, they were at double the value since their bubble started, so there isn't exactly a loss

also they already control 60% of the mining activity, so everyone who is interested in bitcoin in china, has already bitcoin in his pockets

Are Chinese actually the most important part of Bitcoins???
I mean I have seen many people talking about Chinese mostly whenever it comes to Bitcoins...
So, does that mean that if they decide to get out of this, then Bitcoin will become a total mess for everyone who are possessing them???

yeah they seems very interested in the profit to be made out of bitcoin not in bitcoin itself, i'm sure they will not leave as long as there is profit

if we imagines a huge price drop ,that will force 60% of chinese to go out, then everyone else will leave bitcoin as well, at least for the mining until the diff can match the price as usual

Profit is everything people are here for, else Bitcoins would have become mainstream so far before...

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July 09, 2015, 11:32:54 AM
 #12

The Chinese have the biggest part at the moment in mining. If they choose to stop, nothing will get messy, it might take some time before the mining power  is up to par again and the difficulty is reset to the new amount of hashing power available. No need to worry at all.

no need to worry? it's not that easy. especially since china is good for around 50% of the total hash power. if they stop, bitcoin will get less safe and will suffer much easier from a 51% attack. it will have a very bad impact on the price as well.
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July 09, 2015, 12:20:00 PM
 #13

The Chinese have the biggest part at the moment in mining. If they choose to stop, nothing will get messy, it might take some time before the mining power  is up to par again and the difficulty is reset to the new amount of hashing power available. No need to worry at all.

no need to worry? it's not that easy. especially since china is good for around 50% of the total hash power. if they stop, bitcoin will get less safe and will suffer much easier from a 51% attack. it will have a very bad impact on the price as well.

If they stop completely, the remaining hash power is still very large, larger than 12 months ago.
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July 09, 2015, 01:24:58 PM
 #14

I could see some Chinese turning into bitcoin after the margin trading disaster, most of this people where getting loans to do margin trading which was pretty profitable, lets see if bitcoin is attractive to them at lease.
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July 09, 2015, 01:32:14 PM
 #15

Chinese never ever turn their central currency to the Bitcoin, but they will re-invent some other crypto currency similar to Bitcoin, this is what they have been doing for years and years means copycat. I do not think that Chinese will face any sort of risk at this current situation.
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July 09, 2015, 01:36:11 PM
 #16

Bitcoin is not ready for the big volume that it would bring, the network would collapse. Thank god that people aren't ready for Bitcoin as well, they are clueless.
It will take more time, but of course that speculation about it could lead to a big price pump.

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July 09, 2015, 01:52:26 PM
 #17

i dont think so, this seems like a typical cras bubble so i bet that in a short period of time things will be more stable for them.

in the other side there is a possibility that things goes back again but with much more lower prices and stay there, hell everything is posible Tongue

but my bet is that this is just a simple bubble crash.

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July 09, 2015, 02:05:19 PM
 #18

Chinese turn into Litecoin already, but not Bitcoin!
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July 09, 2015, 02:07:00 PM
 #19

Soon some smart traders will make a lot of money out of this crisis! Smiley
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July 10, 2015, 08:02:00 AM
 #20

Chinese turn into Litecoin already, but not Bitcoin!

Litecoin mining is controlled by the ASIC miner manufacturers. There is no actual use of the coin. More adoption is needed.
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