Bitcoin defeats the Chinese government

[shield132]

If control on bitcoin from chinese side is reduced, it means a lot because the word "decentrilez currency" is destroyed by them but people want decentralization. But this doesn't means they can't control bitcoin and who knows, maybe it's the end of new begining, to my mind many attempts will come from their side, everyone knows how they want to take bitcoin in their hands.

[1714852910]

1714852910

[1714852910]

1714852910

[1714852910]

1714852910

[1714852910]

1714852910

[1Referee]

But what you don't realize is the fact that it actually worked and lots of people panic sold so, idk, Bitcoin prices are going back up but I'm sure people got burned.

And that's exactly what they are looking for, because they know it works, and they know that it will work another time as well. I am trading and monitoring the market since very early 2013, and time on time again the market remains sensitive to certain news articles, where it results in panic. As long as it works, the people (whoever they are) will continue to do so. It makes them millions as this is basically the same as trading with insider information. People shouldn't underestimate China's influence even though their fake volumes are gone...

but if everyone sell just to buy back later more coins it can't be called burned, they have just increased their bitcoin

Weird definition of burned you have. In my books burned is when you end up selling at a loss, and buy back at a price higher than what you sold at. It will result in you decreasing your coins.

cellard is saying that this is working less and less and you can't fool investors 2-3 times, you can see that each dump is smaller and the recover is faster

Read the first part of my post. Yes, the price does happen to increase afterwards, but this manipulation game works time on time again. It doesn't really matter who gets fooled and sells in panic, the point is, if they so wish, the market will tank. Weird that some people still don't seem to understand these basics.

[jcpone]

seeing how much volume has so quickly jumped to other exchanges show that it really has nothing to do with the "Chinese" dominating bitcoin, it's just that everyone flocks to the best exchanges to use at the time, the high frequency day traders, they are from all over the world..

You maybe correct here, but we know before that China has more miners. Bt with current news that many of them are busted and raided I thin it is starting to diminish now. Its good that it is not dominated by any country as of now. Do we have wallet distribution by which country has massive bitcoin volume? Glad to know.

It was not China being more miner but China being the place where most miner enthusiast and farm chose because of the cheap electricity cost.  Who know who really are the owner of those mining machine.  Maybe most are europeans or americans and some asian not Chinese that invested to that huge farm.

[talkbitcoin]

we all keep saying decentralized but many don't get what it means that is why they think China or any other country for that matter, has a say in this. they do not.

bitcoin is going to exist and get stronger every day and there is no stopping it. and believe me when i say they already know this, otherwise they would have done something about it already in the past 8 years.

all the FUD and all the negativity that has been thrown at bitcoin could only slow it down, and could never shake it from its real path towards adoption.

[szpalata]

Panic selling has been the order of the day for several days and weeks and I'm surprised to here that China is behind these fluctuations, it's really got people burned so bad with their BTC's. Unless perhaps you made it through the margins. It's a terrible experience to lose so much and I'm glad Bitcoin always rises to the occasion to defeat these oppressors.

[odolvlobo]

I have an idea that will change the world. I know it sounds really stupid, but I know how to do it. I think it could actually work.

Good luck.

[odolvlobo]

China has been trying to short the bitcoin market a couple of times now by making weak hands panic sell on every of their PBOC announcements.
The PBOC is obviously using their power to destabilize the market in order to keep stealing money from weak hands and profit from margin traded short positions as well.

So, you believe that the PBOC is buying bitcoins and/or shorting it? I'm skeptical. Where's your evidence?

[panju1]

seeing how much volume has so quickly jumped to other exchanges show that it really has nothing to do with the "Chinese" dominating bitcoin, it's just that everyone flocks to the best exchanges to use at the time, the high frequency day traders, they are from all over the world..

You maybe correct here, but we know before that China has more miners. Bt with current news that many of them are busted and raided I thin it is starting to diminish now. Its good that it is not dominated by any country as of now. Do we have wallet distribution by which country has massive bitcoin volume? Glad to know.

It was not China being more miner but China being the place where most miner enthusiast and farm chose because of the cheap electricity cost.  Who know who really are the owner of those mining machine.  Maybe most are europeans or americans and some asian not Chinese that invested to that huge farm.

The ownership really doesn't matter. The bottom line is that those farms are in China and if the Chinese government decides they can close down or even take over those farms. All it takes is one executive order.

[tabas]

China has been trying to short the bitcoin market a couple of times now by making weak hands panic sell on every of their PBOC announcements.
The PBOC is obviously using their power to destabilize the market in order to keep stealing money from weak hands and profit from margin traded short positions as well.

So, you believe that the PBOC is buying bitcoins and/or shorting it? I'm skeptical. Where's your evidence?

This is what I'm thinking too. Their mindsets of being greedy is the one that makes me think about this to PBoC. They saw that there is money in bitcoin and they don't want to see others dominate with it. Great authority, great power leads to money.

[CraigWrightBTC]

China has been trying to short the bitcoin market a couple of times now by making weak hands panic sell on every of their PBOC announcements.
The PBOC is obviously using their power to destabilize the market in order to keep stealing money from weak hands and profit from margin traded short positions as well.

So, you believe that the PBOC is buying bitcoins and/or shorting it? I'm skeptical. Where's your evidence?

This is what I'm thinking too. Their mindsets of being greedy is the one that makes me think about this to PBoC. They saw that there is money in bitcoin and they don't want to see others dominate with it. Great authority, great power leads to money.

Yes and their mindset is traders we can see almost around the world people from China is a trader,
they know how to take profit from trading,
they know how to take a chance for making profit from uncontrol situation of markets bitcoin
they know to manage the markets of bitcoin until they can taking money of there.

[bravehearth0319]

China has been trying to short the bitcoin market a couple of times now by making weak hands panic sell on every of their PBOC announcements.
The PBOC is obviously using their power to destabilize the market in order to keep stealing money from weak hands and profit from margin traded short positions as well.

But something is clear: Every time they come up with a bullshit excuse to crush the price, bitcoin rises stronger and their effect on the price weakens:



By looking at this, and also by looking at the price difference between Okcoin and western exchanges, it is clear that china is no longer a dominant market maker.

They can try to shoot at him along the way, but it will keep recovering.

Bitcoin wins again and the path towards glory continues.

Bitcoin proved once again, that being decentralized it shows none of the government in each country they cannot control it. at least we the community of bitcoin now have the reason to be more aggressive into bitcoin. They've lost because o f their greediness in money, so God didn't allow it to be happen still the bitcoin enthusiast won the market.

[Vaccinus]

But what you don't realize is the fact that it actually worked and lots of people panic sold so, idk, Bitcoin prices are going back up but I'm sure people got burned.

And that's exactly what they are looking for, because they know it works, and they know that it will work another time as well. I am trading and monitoring the market since very early 2013, and time on time again the market remains sensitive to certain news articles, where it results in panic. As long as it works, the people (whoever they are) will continue to do so. It makes them millions as this is basically the same as trading with insider information. People shouldn't underestimate China's influence even though their fake volumes are gone...

but if everyone sell just to buy back later more coins it can't be called burned, they have just increased their bitcoin

Weird definition of burned you have. In my books burned is when you end up selling at a loss, and buy back at a price higher than what you sold at. It will result in you decreasing your coins.

cellard is saying that this is working less and less and you can't fool investors 2-3 times, you can see that each dump is smaller and the recover is faster

Read the first part of my post. Yes, the price does happen to increase afterwards, but this manipulation game works time on time again. It doesn't really matter who gets fooled and sells in panic, the point is, if they so wish, the market will tank. Weird that some people still don't seem to understand these basics.

if they dump but buy back at lower price how can you call it burned? and if they buy back it make no sense for them to dump and kill the price they would only lose money isn't it true? only a moron would kill the price by losing his coins

[Xester]

China has been trying to short the bitcoin market a couple of times now by making weak hands panic sell on every of their PBOC announcements.
The PBOC is obviously using their power to destabilize the market in order to keep stealing money from weak hands and profit from margin traded short positions as well.

So, you believe that the PBOC is buying bitcoins and/or shorting it? I'm skeptical. Where's your evidence?

PBOC is not buying bitcoins rather they are crating a third party to monitor the bitcoin trading. Its not PBOC who is destabilizing the market but the Chinese exchangers. PBOC is actually placing laws and regulations to CHinese exchangers so there will be no more market manipulation and sudden volatility. Without PBOC inspection and policies maybe until now Chinese exchangers are still playing with fake volumes and the price of bitcoin and we the users and investors will suffer losses from such wild volatility.

[pinkpanther03]

That's why projects based on P2P protocols are something usually hard to kill . I guess the time has finally come where China no longer control the most of the bitcoin supply , potentials investors could feel more secure now while investing and knowing that the price cannot be manipulated that easy.

One more reason why china cant control bitcoin price specially in case of dumping is that people all over the world trust bitcoins. So if the China decided to dump the coins, the people wont support it as people have trust in bitcoins. So no one country now cant have any big influence on bitcoins.

In this case, you have a point, It is true that almost all bitcoin lovers won't support any dump which other group are planning to do it.  It is really shows only bitcoin decentralization was very effective and powerful ,

[xuan87]

This is great, decentralized was the reason bitcoin created, with no one dominated the market bitcoin surely will rise even further, it has proven people power is very effective against domination, there are a lot of party trying to control bitcoin, but because the user is widely spread so it is not that easy to control bitcoin, I am really glad no one is controlling bitcoin because it is the freedom currency that I always wanted

[The_Dark_Knight]

But what you don't realize is the fact that it actually worked and lots of people panic sold so, idk, Bitcoin prices are going back up but I'm sure people got burned.

It worked but only for a limited amount of time and for a limited amount of people beside one of things those people don't realize is that the more you use an strategy the less effective it becomes because we get used to it and we may even use it to our advantage.

[equator]

But what you don't realize is the fact that it actually worked and lots of people panic sold so, idk, Bitcoin prices are going back up but I'm sure people got burned.

It worked but only for a limited amount of time and for a limited amount of people beside one of things those people don't realize is that the more you use an strategy the less effective it becomes because we get used to it and we may even use it to our advantage.

What you said is perfect, when a same thing is repeated then it losses its value and it wont carry effect and the same thing is happening with china market before they were success with this trick but now other country users are having more faith on bitcoin and on every decline they are buying as it is a buying opportunity for them

[ekoice]

Bitcoin has been increasing in number of users along with the increasing adoption. Chinese market is much adopted to fake volume to make the transactions high. After PBOC's inspection upon exchange websites this came to an end, soon price became stable and started to have a real increase in price.

Bitcoin is now more or less free from chinese gamblers and manipulators and its good for bitcoin progress.Bitcoin was created mainly as a decentralized currency and china was a great threat to this decentralization feature these much days.Here after,bitcoin price will reflect its real value and not a manipulated value.

[bra4our]

I doubt there is anything that any government can do to destroy bitcoins like the US government did to Liberty Reserve, am sure thats one of the reason why satoshi has remained anonymous so far . he doesn't want any charges of money laundering and tax evasion brought against him by any government.

[joshy23]

I doubt there is anything that any government can do to destroy bitcoins like the US government did to Liberty Reserve, am sure thats one of the reason why satoshi has remained anonymous so far . he doesn't want any charges of money laundering and tax evasion brought against him by any government.

Satoshi is one step ahead of the government that's why he hide his identify because he know that the government will run after him for creating bitcoin technology. I think bitcoin will continue to exist even though any government or country for that matter will labeled bitcoin as illegal. Also, bitcoin is decentralized as we all understand it, so no government not even China could stop bitcoin.