China and price

[bit1]

Current mild upward trend of bitcoin markets, is making me think that we may see an end of China dictating and slowing bitcoin by holding the price down.
Top 3 Chinese exchanges stopped withdrawals of BTC/LTC - normally this would cause huge uproar, chaos and panic sell. So why we are not seeing any decline?
But instead price is slowly gaining momentum?

Probably yes, but it would also be logical to think that the increase can be brought about precisely due to the impossibility of that they can make withdrawals of their funds which has led to a sudden drop in offer elsewhere, this coupled with the perspective of confidence that exists to maintain those levels.

[Gameroid]

Now I know China has been accused of keeping the price of their fiat down, so this leads me to a question.

Why would china want to keep the price of btc at or below 1000? And I'm not asking for answers around curbing the use of it, because I don't believe they want that. I'm asking for genuine thoughts on how it would benefit china to keep the price low. What long term strategy would they have? Because we all know china doesn't just do things because they want to. They've probably had meeting after meeting on how best to optimize bitcoin for their benefit.

First how sure are we that China wants to keep the price of BTC at or below $1,000?  As I think of it China don't care about BTC, as the way you wanted to hear it, they only want to make sure that these exchanges that had been loose for some years to follow what the rule stated with regards to AML and  KYC stuff.  It is that these market manipulator take advantage of the news and twist the idea to suit what they wanted to the price of BTC.

yes these are just assumptions and there is no reality about this. in fact the it in is now become very difficult to manipulate the price of bitcoin. because the number of bitcoin users are now increasing. therefore it is now become difficult for a single person or a group of people to manipulate the price of bitcoin.

[carlerha]

Now I know China has been accused of keeping the price of their fiat down, so this leads me to a question.

Why would china want to keep the price of btc at or below 1000? And I'm not asking for answers around curbing the use of it, because I don't believe they want that. I'm asking for genuine thoughts on how it would benefit china to keep the price low. What long term strategy would they have? Because we all know china doesn't just do things because they want to. They've probably had meeting after meeting on how best to optimize bitcoin for their benefit.

First how sure are we that China wants to keep the price of BTC at or below $1,000?  As I think of it China don't care about BTC, as the way you wanted to hear it, they only want to make sure that these exchanges that had been loose for some years to follow what the rule stated with regards to AML and  KYC stuff.  It is that these market manipulator take advantage of the news and twist the idea to suit what they wanted to the price of BTC.

yes these are just assumptions and there is no reality about this. in fact the it in is now become very difficult to manipulate the price of bitcoin. because the number of bitcoin users are now increasing. therefore it is now become difficult for a single person or a group of people to manipulate the price of bitcoin.

yes there is no doubt about this that the number of bitcoin users are more in china as compare to other countries bu ti think it does not mean that they are controlling bitcoin at all. bitcoin is a universal currency and it is not so easy to manipulate or control bitcoin.

[ged00u]

Now I know China has been accused of keeping the price of their fiat down, so this leads me to a question.

Why would china want to keep the price of btc at or below 1000? And I'm not asking for answers around curbing the use of it, because I don't believe they want that. I'm asking for genuine thoughts on how it would benefit china to keep the price low. What long term strategy would they have? Because we all know china doesn't just do things because they want to. They've probably had meeting after meeting on how best to optimize bitcoin for their benefit.

First how sure are we that China wants to keep the price of BTC at or below $1,000?  As I think of it China don't care about BTC, as the way you wanted to hear it, they only want to make sure that these exchanges that had been loose for some years to follow what the rule stated with regards to AML and  KYC stuff.  It is that these market manipulator take advantage of the news and twist the idea to suit what they wanted to the price of BTC.

yes these are just assumptions and there is no reality about this. in fact the it in is now become very difficult to manipulate the price of bitcoin. because the number of bitcoin users are now increasing. therefore it is now become difficult for a single person or a group of people to manipulate the price of bitcoin.

yes there is no doubt about this that the number of bitcoin users are more in china as compare to other countries bu ti think it does not mean that they are controlling bitcoin at all. bitcoin is a universal currency and it is not so easy to manipulate or control bitcoin.

No, it is not about the number of China people. It is about how much money and efforts they have spent in Bitcoin. AS you can see, there are likely a thousand investors and they have put a million dollars in this field. Therefore, it is obvious that the Chinese are controlling the Bitcoin prices they day by day

[whizter]

Now I know China has been accused of keeping the price of their fiat down, so this leads me to a question.

Why would china want to keep the price of btc at or below 1000? And I'm not asking for answers around curbing the use of it, because I don't believe they want that. I'm asking for genuine thoughts on how it would benefit china to keep the price low. What long term strategy would they have? Because we all know china doesn't just do things because they want to. They've probably had meeting after meeting on how best to optimize bitcoin for their benefit.

First how sure are we that China wants to keep the price of BTC at or below $1,000?  As I think of it China don't care about BTC, as the way you wanted to hear it, they only want to make sure that these exchanges that had been loose for some years to follow what the rule stated with regards to AML and  KYC stuff.  It is that these market manipulator take advantage of the news and twist the idea to suit what they wanted to the price of BTC.

yes these are just assumptions and there is no reality about this. in fact the it in is now become very difficult to manipulate the price of bitcoin. because the number of bitcoin users are now increasing. therefore it is now become difficult for a single person or a group of people to manipulate the price of bitcoin.

yes there is no doubt about this that the number of bitcoin users are more in china as compare to other countries bu ti think it does not mean that they are controlling bitcoin at all. bitcoin is a universal currency and it is not so easy to manipulate or control bitcoin.

No, it is not about the number of China people. It is about how much money and efforts they have spent in Bitcoin. AS you can see, there are likely a thousand investors and they have put a million dollars in this field. Therefore, it is obvious that the Chinese are controlling the Bitcoin prices they day by day

but how can a person know that they have more investment in bitcoin. although their number of using bitcoin is more that any other country but it does not mean that they have the most investment. my be a single person from USA has invested more that 1000 users from China.

[bajing]

Now I know China has been accused of keeping the price of their fiat down, so this leads me to a question.

Why would china want to keep the price of btc at or below 1000? And I'm not asking for answers around curbing the use of it, because I don't believe they want that. I'm asking for genuine thoughts on how it would benefit china to keep the price low. What long term strategy would they have? Because we all know china doesn't just do things because they want to. They've probably had meeting after meeting on how best to optimize bitcoin for their benefit.

First how sure are we that China wants to keep the price of BTC at or below $1,000?  As I think of it China don't care about BTC, as the way you wanted to hear it, they only want to make sure that these exchanges that had been loose for some years to follow what the rule stated with regards to AML and  KYC stuff.  It is that these market manipulator take advantage of the news and twist the idea to suit what they wanted to the price of BTC.

yes these are just assumptions and there is no reality about this. in fact the it in is now become very difficult to manipulate the price of bitcoin. because the number of bitcoin users are now increasing. therefore it is now become difficult for a single person or a group of people to manipulate the price of bitcoin.

yes there is no doubt about this that the number of bitcoin users are more in china as compare to other countries bu ti think it does not mean that they are controlling bitcoin at all. bitcoin is a universal currency and it is not so easy to manipulate or control bitcoin.

No, it is not about the number of China people. It is about how much money and efforts they have spent in Bitcoin. AS you can see, there are likely a thousand investors and they have put a million dollars in this field. Therefore, it is obvious that the Chinese are controlling the Bitcoin prices they day by day

Not for long china can controlling bitcoin price, im sure now they on trouble due their efforts to make the price under $ 1000 always can not last long and now all trader are smart they not easy get in on the trap.

[BigBall]

China dont have now so much affect to bitcoin it have less and less because now exhangers are checked so often from inspection so they cant do illegal things in market.

[lionheart78]

Not for long china can controlling bitcoin price, im sure now they on trouble due their efforts to make the price under $ 1000 always can not last long and now all trader are smart they not easy get in on the trap.

Honestly I used to believe that China is trying to control the price when  Bitcoin price go up more than $1000 but the last two press release of PBOC does not mean that they are or in a position of wanting to control Bitcoin price.  They are just after the implementation of the law regarding money laundering and possible support to the terrorist activities.  There is no way in their announcement that they are banning or want to control bitcoin price.  they are just preparing their exchanges for a more legal way of implementing rules on the transactions of Bitcoin.

[pitham1]

Not for long china can controlling bitcoin price, im sure now they on trouble due their efforts to make the price under $ 1000 always can not last long and now all trader are smart they not easy get in on the trap.

Honestly I used to believe that China is trying to control the price when  Bitcoin price go up more than $1000 but the last two press release of PBOC does not mean that they are or in a position of wanting to control Bitcoin price.  They are just after the implementation of the law regarding money laundering and possible support to the terrorist activities.  There is no way in their announcement that they are banning or want to control bitcoin price.  they are just preparing their exchanges for a more legal way of implementing rules on the transactions of Bitcoin.

Their interference stems from a desire to prevent ordinary Chinese from getting hurt. Other countries do it by issuing advisories and warnings; China does it by interfering in the market. Chinese are by nature gamblers and so Bitcoin is very attractive to them.

[pooya87]

Not for long china can controlling bitcoin price, im sure now they on trouble due their efforts to make the price under $ 1000 always can not last long and now all trader are smart they not easy get in on the trap.

Honestly I used to believe that China is trying to control the price when  Bitcoin price go up more than $1000 but the last two press release of PBOC does not mean that they are or in a position of wanting to control Bitcoin price.  They are just after the implementation of the law regarding money laundering and possible support to the terrorist activities.  There is no way in their announcement that they are banning or want to control bitcoin price.  they are just preparing their exchanges for a more legal way of implementing rules on the transactions of Bitcoin.

Their interference stems from a desire to prevent ordinary Chinese from getting hurt. Other countries do it by issuing advisories and warnings; China does it by interfering in the market. Chinese are by nature gamblers and so Bitcoin is very attractive to them.

what you say is called conspiracy theory with a hint of racism
Chinese do the same thing as any country, they have been issuing warnings to their people about bitcoin to make them understand it is not magic money to make them rich and warn them about not investing their whole life it in. nothing weird is going on there, and bitcoin market is too small for a country to even consider keeping its price down. while there are huge markets such as Gold and Forex with much more investors.

[pinkflower]

Heres what I think on the whole PBOC keeping BTC below 1000 US dollars conspiracy. The higher the price of BTC is, the easier it is for money launderers to use it. Think of this, if you want to launder 1 million US dollars, would it be easier for you to launder via BTC if it was at 10 dollars or at 10,000 dollars?

[szpalata]

Heres what I think on the whole PBOC keeping BTC below 1000 US dollars conspiracy. The higher the price of BTC is, the easier it is for money launderers to use it. Think of this, if you want to launder 1 million US dollars, would it be easier for you to launder via BTC if it was at 10 dollars or at 10,000 dollars?

Exactly, so the conspiracy is rather in the right place to help curb money laundering and discourage illicit use of Bitcoin as a payment system for fraud and illegal businesses. I give thumps up to the Chinese.

[deisik]

Heres what I think on the whole PBOC keeping BTC below 1000 US dollars conspiracy. The higher the price of BTC is, the easier it is for money launderers to use it. Think of this, if you want to launder 1 million US dollars, would it be easier for you to launder via BTC if it was at 10 dollars or at 10,000 dollars?

I don't think it actually matters

At least, as long as we talk about the same amount of fiat money (US dollars, euro, yuans, etc). Really, 10,000 dollars will remain 10,000 dollars no matter what Bitcoin price might be. In other words, you don't need to launder bitcoins themselves since they are of no particular use on their own. You can't do much with them (if only gamble them away). You can multiply the coins through trading or other investments but to use them in real life you will still have to convert your bitcoins to fiat first. And this is where the size begins to matter

[carlerha]

Not for long china can controlling bitcoin price, im sure now they on trouble due their efforts to make the price under $ 1000 always can not last long and now all trader are smart they not easy get in on the trap.

Honestly I used to believe that China is trying to control the price when  Bitcoin price go up more than $1000 but the last two press release of PBOC does not mean that they are or in a position of wanting to control Bitcoin price.  They are just after the implementation of the law regarding money laundering and possible support to the terrorist activities.  There is no way in their announcement that they are banning or want to control bitcoin price.  they are just preparing their exchanges for a more legal way of implementing rules on the transactions of Bitcoin.

i think now china cannot manipulate the price of bitcoin. may be in past they were responsible for that bit i think now they are not responsible for that but now it is one of the most difficult job to do so.

[deisik]

Not for long china can controlling bitcoin price, im sure now they on trouble due their efforts to make the price under $ 1000 always can not last long and now all trader are smart they not easy get in on the trap.

Honestly I used to believe that China is trying to control the price when  Bitcoin price go up more than $1000 but the last two press release of PBOC does not mean that they are or in a position of wanting to control Bitcoin price.  They are just after the implementation of the law regarding money laundering and possible support to the terrorist activities.  There is no way in their announcement that they are banning or want to control bitcoin price.  they are just preparing their exchanges for a more legal way of implementing rules on the transactions of Bitcoin

There are still a few other possible explanations

Which they may not want to widely talk about. The most likely one is that the Chinese authorities just don't want their population to be involved with Bitcoin since Bitcoin is a direct competitor to the Chinese yuan. The US dollar is a competitor too but they can control it through banks, while Bitcoin is totally beyond their control. That's why they are so vigorously attacking the exchanges since this is the weakest link. Forcing these exchanges to disable deposits and withdrawals follows their strategy perfectly. The next step would be banning Bitcoin for personal use and ownership altogether

[olushakes]

Now I know China has been accused of keeping the price of their fiat down, so this leads me to a question.

Why would china want to keep the price of btc at or below 1000? And I'm not asking for answers around curbing the use of it, because I don't believe they want that. I'm asking for genuine thoughts on how it would benefit china to keep the price low. What long term strategy would they have? Because we all know china doesn't just do things because they want to. They've probably had meeting after meeting on how best to optimize bitcoin for their benefit.

I have read alot about China this and China that but I really dont understand why it has to be like that. Even if they have the farms over there, I believe its other countries that are even giving them the way because of the strict attitude towards bitcoin by other countries. How on earth can one country be deciding the direction of a currency that is even used all over the world. How I wish bitcoin can be strong enough to deflate all sorts of news coming from that end.

[number-o]

Previously, the Chinese market controlled over 90% of the global bitcoin exchange market.Currently, Japan, South Korea, Singapore and the Philippines are arguably the most well-regulated bitcoin markets with practical regulatory frameworks and realistic policies in place.The Japanese market and the optimistic viewpoint of its government have also served as a major factor behind the recent decline of the Chinese market.When the PBoC first announced its involvement in the local bitcoin exchange market and led to the decline in the value of bitcoin by halting withdrawals for bitcoin users of Huobi and OKCoin, the US market panicked. The price of bitcoin plunged to $950 at the time. However, the bitcoin price has already recovered back to its previous multi-month high margin and it’s currently showing a value beyond $1,100, which is close to bitcoin’s all-time high price of $1,120 in major markets.

[Erza]

Now I know China has been accused of keeping the price of their fiat down, so this leads me to a question.

Why would china want to keep the price of btc at or below 1000? And I'm not asking for answers around curbing the use of it, because I don't believe they want that. I'm asking for genuine thoughts on how it would benefit china to keep the price low. What long term strategy would they have? Because we all know china doesn't just do things because they want to. They've probably had meeting after meeting on how best to optimize bitcoin for their benefit.

First how sure are we that China wants to keep the price of BTC at or below $1,000?  As I think of it China don't care about BTC, as the way you wanted to hear it, they only want to make sure that these exchanges that had been loose for some years to follow what the rule stated with regards to AML and  KYC stuff.  It is that these market manipulator take advantage of the news and twist the idea to suit what they wanted to the price of BTC.

yes these are just assumptions and there is no reality about this. in fact the it in is now become very difficult to manipulate the price of bitcoin. because the number of bitcoin users are now increasing. therefore it is now become difficult for a single person or a group of people to manipulate the price of bitcoin.

yes there is no doubt about this that the number of bitcoin users are more in china as compare to other countries bu ti think it does not mean that they are controlling bitcoin at all. bitcoin is a universal currency and it is not so easy to manipulate or control bitcoin.

It depends on how much people carry bitcoin. It is easy to manipulate and control bitcoin and if you said that most of China user hold more bitcoin, I think that they have higher chance that they can manipulate the price and control the price exactly. But I wonder if any big whale of gambler that participate in controlling and manipulating price. May be if big whale of gambling include in this part may be China user can't manipulate it though

[pinkflower]

Heres what I think on the whole PBOC keeping BTC below 1000 US dollars conspiracy. The higher the price of BTC is, the easier it is for money launderers to use it. Think of this, if you want to launder 1 million US dollars, would it be easier for you to launder via BTC if it was at 10 dollars or at 10,000 dollars?

I don't think it actually matters

At least, as long as we talk about the same amount of fiat money (US dollars, euro, yuans, etc). Really, 10,000 dollars will remain 10,000 dollars no matter what Bitcoin price might be. In other words, you don't need to launder bitcoins themselves since they are of no particular use on their own. You can't do much with them (if only gamble them away). You can multiply the coins through trading or other investments but to use them in real life you will still have to convert your bitcoins to fiat first. And this is where the size begins to matter

Of course it does matter. The value of your fiat would depend on it. If you want to launder millions, which in most cases the amounts are, a higher BTC price will not cause any spikes in volatility as compared to when its lower. Pumping millions in and then getting them out will abruptly make the price go up and down.

[stepwilli]

Current mild upward trend of bitcoin markets, is making me think that we may see an end of China dictating and slowing bitcoin by holding the price down.
Top 3 Chinese exchanges stopped withdrawals of BTC/LTC - normally this would cause huge uproar, chaos and panic sell. So why we are not seeing any decline?
But instead price is slowly gaining momentum?

Probably yes, but it would also be logical to think that the increase can be brought about precisely due to the impossibility of that they can make withdrawals of their funds which has led to a sudden drop in offer elsewhere, this coupled with the perspective of confidence that exists to maintain those levels.

China has the largest share of the hashing power when it comes to mining bitcoin and that gives us the general idea of how much it can control the price of the bitcoin because it all depends on their miners and how much are they willing to go before releasing those coins, the market is on high demand right now that is why the price is high these days.