My conspiracy theory about CHINA...what is yours?

[HashFace]

China does not like the exporting of their wealth ... they limit their wealthy citizens to $50,000/yr in international transfers, to force reinvestment at home instead of abroad.  China starting cracking down on BitCoin earlier this year as it was believed their wealthy citizens were using Bitcoin to export more wealth than allowed.  This may be another reason why China choose this path ... they found it was too hard to control and perhaps found the problem was worse than they thought.

[senin]

A conspiracy in China may indeed take place. However, conspiracy of certain groups with different interests. The game for a decrease in the rate of crypto currency is held, it is unambiguous. Otherwise, the ordering of the circulation of the crypto currency and the conduct of the ICO would be much faster and more thoughtful. However, we observe some kind of chaotic and ill-considered actions of the Chinese government and this led to a sharp drop in the rate of the Crypto-currency.

[Freddoe]

I think its very simple. They simply do not want a currency they cannot control. They want to be able to ban ppl from using, they want taxes, they want to be able to monitor every citizen. This cannot be done with Crypto. Therefor China does not want any of it.

He hit the nail on the head.  China wants to control the flow of money within its borders, as do all states so its not really a conspiracy.  China will allow the exchanges to operate but they will have more stringent reporting in place which is not entirely bad.  There are certainly pros and cons. 

I completly agree with you he hit the nail on the head. We can talk about that the crash is over. But if the Chinese are closing down then we are proberbly now witness to one of the biggest pump and dump. If you have the cash I think that the months to come will be very nice to buy. If you don't then hold your coins and close your ayes for the comming months.

[BitcoinArsenal]

I do not believe in a conspiracy. China has an interest to avoid that money leaves the country. The Chinese regime needs economic success to get peace in the population. If the economy no longer grows and much capital leaves the country, this could lead to revolts. There are capital controls in the country and Bitcoin can be use to bypass the controls. This is, in my opinion, the main intention.

[goldade]

1.  I think China want to temporarily crash the market so they can collect more BTC (and other coins dirt cheap) before announcing that they are officially adopting.  At that point BTC (and other crypto) will sky rocket.

2. They don't want their citizens to trade cryptocurrency and earn (relatively easily) in fear of losing their cheap labor force.  They will then try to make it as difficult as possible for it to flourish in their country.

Which is it???

It does not matter whether its a conspiracy or a fact. They have come to state that crypto currency trade is disrupting their financial system simply because they cannot control bitcoin. The moment that can be achieved by them either directly or otherwise, they will come back to their senses and every crash that have happened won't matter any longer again.

[bytiges]

I don't get it about conspiracy theories. The BTC cap is what ? 59 billion ? Most of it is hodlers. The liquid capital is much less, say 1/10th. Now, 6 billion is something a lot of hands can manipulate, easily.

It does not get simpler than that.

[Jerfer]

I think its very simple. They simply do not want a currency they cannot control. They want to be able to ban ppl from using, they want taxes, they want to be able to monitor every citizen. This cannot be done with Crypto. Therefor China does not want any of it.

He hit the nail on the head.  China wants to control the flow of money within its borders, as do all states so its not really a conspiracy.  China will allow the exchanges to operate but they will have more stringent reporting in place which is not entirely bad.  There are certainly pros and cons. 

I completly agree with you he hit the nail on the head. We can talk about that the crash is over. But if the Chinese are closing down then we are proberbly now witness to one of the biggest pump and dump. If you have the cash I think that the months to come will be very nice to buy. If you don't then hold your coins and close your ayes for the comming months.

It might be a conspiracy. Why did 2 exchanges shut down voluntarily like that??? They did nothing wrong, I think china put some pressure and intimidation behind the scenes here.

[MFahad]

Why would I have a conspiracy theory about something? Why don't we just leave it alone and let it do what it does. It has nothing to do with the rest of us and barely affected the price at all. Perhaps we should leave well enough alone and let them crawl away and be all by themselves. Because that's where they belong.

[susila_bai]

1.  I think China want to temporarily crash the market so they can collect more BTC (and other coins dirt cheap) before announcing that they are officially adopting.  At that point BTC (and other crypto) will sky rocket.

2. They don't want their citizens to trade cryptocurrency and earn (relatively easily) in fear of losing their cheap labor force.  They will then try to make it as difficult as possible for it to flourish in their country.

Which is it???

What you are telling is the story which is showed to the world by the big whales of big country who have shorted the bitcoin means they are selling bitcoins from 3000+ level and when they saw it going to show much high they have to cut loss so they with the help of china banned the ICO as they know now the ICO theory is going high so when this news came they also rumoured that chine also banning the local exchanges, this made market panic and it went 40% down the price where they covered their short position and now they are long and will take time to move the market more high.

[ruffles2016]

I also think it is very simple. They have controlled state and controlled society. Cryptocurrencies are generally not controllable. That means Chinese government doesn't want sny outcome they can't farsee. This is it.

[tukangkopi]

1.  I think China want to temporarily crash the market so they can collect more BTC (and other coins dirt cheap) before announcing that they are officially adopting.  At that point BTC (and other crypto) will sky rocket.

2. They don't want their citizens to trade cryptocurrency and earn (relatively easily) in fear of losing their cheap labor force.  They will then try to make it as difficult as possible for it to flourish in their country.

Which is it???

could be, because China is very insistent in terms of economic development of their country and their main enemy is the United States

[Jovovich]

1.  I think China want to temporarily crash the market so they can collect more BTC (and other coins dirt cheap) before announcing that they are officially adopting.  At that point BTC (and other crypto) will sky rocket.

2. They don't want their citizens to trade cryptocurrency and earn (relatively easily) in fear of losing their cheap labor force.  They will then try to make it as difficult as possible for it to flourish in their country.

Which is it???

could be, because China is very insistent in terms of economic development of their country and their main enemy is the United States

I dont know about it but china is actually the biggest entity to at least comment that btc is a big scheme and they called it stupid. Well its not china but the Blockchain china said that. But after the latest price increase, it would prove that even that country cant really make a big impact on an organized virtual currency.

[Bay_Harbour_Butcher]

I think your opinion goes in, and I also agree with you about it, but the thing to know is that it is very difficult to control, even impossible to control, I think the Chinese government is not able to control it either. but china is a superpower country, so nothing is impossible

[Patatas]

1.  I think China want to temporarily crash the market so they can collect more BTC (and other coins dirt cheap) before announcing that they are officially adopting.  At that point BTC (and other crypto) will sky rocket.

Nope Chinese Government doesn't really care about the market or bitcoin.It wouldn't take them this long to nuke the mines if they cared about it.They want more money for war with India,American and now Korea.They would tax bitcoin.

2. They don't want their citizens to trade cryptocurrency and earn (relatively easily) in fear of losing their cheap labor force.  They will then try to make it as difficult as possible for it to flourish in their country.

Which is it???

Neither.Since when China started caring about their citizens ? Mark my point 1 and that is the truth you don't wanna digest.

[Zogrd]

Must be very tempting to have the finger on the trigger and also access to the goods ...

[romani245]

1.  I think China want to temporarily crash the market so they can collect more BTC (and other coins dirt cheap) before announcing that they are officially adopting.  At that point BTC (and other crypto) will sky rocket.

2. They don't want their citizens to trade cryptocurrency and earn (relatively easily) in fear of losing their cheap labor force.  They will then try to make it as difficult as possible for it to flourish in their country.

Which is it???

I think it's neither of these things. I honestly think that the government is in a panic over capital flight overseas... and was in a panic over the rate at which the BTC/crypto prices were rising. They know they can't stop the adoption of cryptocurrencies, but they want to steer people towards tightly regulated (AML/KYC) exchanges that will help enforce the yearly capital outflow allocation that each citizen gets.

Right now, the Chinese exchanges are all operating as shadow banks. With cryptocurrencies becoming such a huge market, the government felt the need to step in. They knew it would cause a crash, and I'm sure they were glad to see that, but I don't think that was the primary intention.

[Btc_1856]

Why would I have a conspiracy theory about something? Why don't we just leave it alone and let it do what it does. It has nothing to do with the rest of us and barely affected the price at all. Perhaps we should leave well enough alone and let them crawl away and be all by themselves. Because that's where they belong.

I think they are bothering their economic growth because their money is not controlled with the cryptos. That's why they want to form some legal formats for all formats of these cryptos. Whether they will come with the legal format or not we have to wait and see.

[Soranith]

1.  I think China want to temporarily crash the market so they can collect more BTC (and other coins dirt cheap) before announcing that they are officially adopting.  At that point BTC (and other crypto) will sky rocket.

2. They don't want their citizens to trade cryptocurrency and earn (relatively easily) in fear of losing their cheap labor force.  They will then try to make it as difficult as possible for it to flourish in their country.

Which is it???

I think its number one because as what I observe and as far as what I've read in my research about the history of bitcoin everytime China will release a negative about Bitcoin it is expected that the price of it will go down and then they keep telling that they will ban bitcoin but still they are using and they still have bitcoin up to till now so its just mean that they are making all the FUD to let people sell their bitcoin because they panic and Chinese people are waiting eveyrtime people dumps.