Charlie Lee: Chinese bitcoin FUD is whale manipulation

[Red-Apple]

they keep spreading the FUD and keep insisting on foolish things such as China banning bitcoin, China banning mining, ... and manipulate the price while shorting.

you have been told.

https://twitter.com/SatoshiLite/status/911067464796053506

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[UnDerDoG81]

Bitcoins Intention was to brake the banks dictatorship. As we can see, nothing changed with bitcoin. Instead of banks, now whales dominate everything, manipulate and steal.

[AtheistAKASaneBrain]

Bitcoins Intention was to brake the banks dictatorship. As we can see, nothing changed with bitcoin. Instead of banks, now whales dominate everything, manipulate and steal.

Wrong. Bitcoin was all about putting fair rules for everyone, and the rules are fair and clean, open source, there are no lies within the protocol. You can never stop whales from forming and you can never stop them from telling lines. If you are stupid enough to fall for the FUD and sell and lose your BTC then that is your problem, not anyone's else or BTC's problem itself.

[DaMut]

This is very interesting lately,
we can see a lot of thread opened to tell people that we will be fucked up and told us to sell our Bitcoin,
whatever it is true or not we should can see it clearly and make some preparation to face it.
but i believe it is not the end of the cryptocurrency world because no matter what we still have the world to shoulder it.
(if the chinese confirmed doing all of what they said a while ago)

Bitcoins Intention was to brake the banks dictatorship. As we can see, nothing changed with bitcoin. Instead of banks, now whales dominate everything, manipulate and steal.

Wrong. Bitcoin was all about putting fair rules for everyone, and the rules are fair and clean, open source, there are no lies within the protocol. You can never stop whales from forming and you can never stop them from telling lines. If you are stupid enough to fall for the FUD and sell and lose your BTC then that is your problem, not anyone's else or BTC's problem itself.

fully agree with you,
it's just based on individual view and opinions,
Bitcoin mission is to create a freedom for their users.even if you're using Fiat you will still can see something like this.
so it's not only in cryptos,but in other assets you will something like this.
you will never can stop the whales to manipulate the markets

[mobnepal]

Its well known fact that all chinese bankers want to get their share on bitcoin and they create FUD and different propaganda along with some big whales so they can buy bitcoin at cheaper price.

I am expecting huge accumulation below or around $3k level for next few days before another huge bull run to new ATH price.

[kwukduck]

Lol this guy.
Just two days ago he was tweeting that he heard from "trusted sources" that this was just the beginning of the China ban and that things would get much worse from here.
I think we found one of these whales he's talking about...

It doesn't matter though, even if China wasn't planning to ban Bitcoin initially, you can bet your life that they got wind of the influence Bitcoin has with all this drama and they want nothing of it.
So bans ARE in the works, and not only in China, the only thing allowed to be in control and set strict rules are the Governments and banks in these countries, and they are big in numbers.

My prediction is that within a 2-5 year time frame Bitcoin will be illegal in 99% of the worlds countries and only be allowed in Antarctica or some other place where nobody actually lives or does anything with it.

You have to be really naive to think the 0.1% of people holding 99.99% of the worlds wealth will give that up for a silly monopoly money computer program.

[AtheistAKASaneBrain]

Lol this guy.
Just two days ago he was tweeting that he heard from "trusted sources" that this was just the beginning of the China ban and that things would get much worse from here.
I think we found one of these whales he's talking about...

It doesn't matter though, even if China wasn't planning to ban Bitcoin initially, you can bet your life that they got wind of the influence Bitcoin has with all this drama and they want nothing of it.
So bans ARE in the works, and not only in China, the only thing allowed to be in control and set strict rules are the Governments and banks in these countries, and they are big in numbers.

My prediction is that within a 2-5 year time frame Bitcoin will be illegal in 99% of the worlds countries and only be allowed in Antarctica or some other place where nobody actually lives or does anything with it.

You have to be really naive to think the 0.1% of people holding 99.99% of the worlds wealth will give that up for a silly monopoly money computer program.

Well, and he was right wasn't he? Charlie Lee got accused of being a FUDster himself when he claimed that China was going to ban exchanges. He said he could trust his sources. Turns out hours later, the ban indeed came: Charlie Lee was right. And he is probably right again. There will be no chinese mining ban, and if there is, it's bullish for Bitcoin anyway.

Also in no moment in history have all governments agreed to do something. They will not agree to ban Bitcoin, there will always be places where it isn't banned (other than Antarctica)

[LFC_Bitcoin]

If this is true China will in the short to medium term future announce bitcoin is not banned & the price will moon, right?

[Fortify]

It makes perfect sense for the Chinese authorities to ban bitcoin, they have done plenty of currency manipulation (right or wrong) to the Yuan and place restrictions on wide sections of peoples lives. Whether it is true this time is difficult to ascertain, because the authorities are so opaque. Frankly if the Chinese economy crumbled tomorrow, it would be the fault of their government for being against transparency.

p.s. I always thought "FUD" meant "Fucked up definition", does that have any place in the context used?

[BrewMaster]

Just two days ago he was tweeting that he heard from "trusted sources" that this was just the beginning of the China ban and that things would get much worse from here.

i sometimes think all these weak hands and everyone who repeats the FUD like a parrot has Attention Deficit Disorder!
you people just read the word "ban" and then make up stories in your little heads

have you read the whole thing, i mean the "WORD" that came literary after the word "ban"? i seriously doubt half of you even noticed the other word.
that word was ICO not bitcoin! the two words doesn't even look alike so you have no excuse for confusing them either.

[zokora]

I agree it is a whale manipulation but how low will it go? when will whales be ready to pump next. I hope they wont wait until it decreases under 2k

[Denker]

If this is true China will in the short to medium term future announce bitcoin is not banned & the price will moon, right?

Not if they fud and manipulate the price too much. As soon as we go below the MA20 (so far we always bounced off from this line since late 2015) in the weekly chart the sentiment could turn bearish and we some more downwards pressure.
Let's wait what's going to happen. Whatever happens, I won't sell my coins!!

[Catmony]

I agree it is a whale manipulation but how low will it go? when will whales be ready to pump next. I hope they wont wait until it decreases under 2k

Under $2k is almost impossible, but price can go below $3k again because the recovery we had after a huge dump few days ago wasn't healthy. Recovery from a huge dump like that should take some time to have some liquidity and buy support for another bull run. Price might go sideways for next few days and might drop a little bit before getting pumped again.

[dothebeats]

Bitcoins Intention was to brake the banks dictatorship. As we can see, nothing changed with bitcoin. Instead of banks, now whales dominate everything, manipulate and steal.

The market and the protocol itself are two different things and I don't believe that bitcoin is designed to be like the banks in the first place. Blame greedy investors and not the protocol for what's happening in bitcoin.

On another note, Charlie Lee is right on his recent statements about the banning of exchanges which no one except he and his sources saw coming. Too bad most exchange owners in China cannot go out of that shithole yet due to the order of PBoC. If they ban mining next (another issue), guess who'll profit more on the bloody streets?

[maokoto]

It is good to confirm it. Whales will always be whales... that is pretty much unavoidable. Better start buying if we can to reap some benefit.

[fabiorem]

Wrong. Bitcoin was all about putting fair rules for everyone, and the rules are fair and clean, open source, there are no lies within the protocol. You can never stop whales from forming and you can never stop them from telling lines. If you are stupid enough to fall for the FUD and sell and lose your BTC then that is your problem, not anyone's else or BTC's problem itself.

That is the problem of everyone, because weak hands are the majority, like 99% of users.

And those weak hands are pushing the price down, believing in whales lies.

If a whale sells part of its stash, and the weaklings dont follow him, so the price would not go down, and instead the whale will lose its dominance, since other people will buy it, believing it will go up.

It's the herd mentality which is pushing the price down.

Also, weaklings are always going all-in with bitcoin. They put all their investments into it, put all they have into a single basket. So they despair when it go down.

This is lack of financial education, which most of the herd dont have.

[Wilhelm]

Bitcoins Intention was to brake the banks dictatorship. As we can see, nothing changed with bitcoin. Instead of banks, now whales dominate everything, manipulate and steal.

Wrong. Bitcoin was all about putting fair rules for everyone, and the rules are fair and clean, open source, there are no lies within the protocol. You can never stop whales from forming and you can never stop them from telling lines. If you are stupid enough to fall for the FUD and sell and lose your BTC then that is your problem, not anyone's else or BTC's problem itself.

Just to add on to your post.

"Bitcoin has no ethical rules" it only has "Technical Rules".

Pump&Dump, market manipulation, stealing, scamming, crashing the market and going short on it.... all allowed in Bitcoin.
So Bitcoin is ethically as fair as Anarchy...

[BurstIncomeAsset]

Bitcoins Intention was to brake the banks dictatorship. As we can see, nothing changed with bitcoin. Instead of banks, now whales dominate everything, manipulate and steal.

Wrong. Bitcoin was all about putting fair rules for everyone, and the rules are fair and clean, open source, there are no lies within the protocol. You can never stop whales from forming and you can never stop them from telling lines. If you are stupid enough to fall for the FUD and sell and lose your BTC then that is your problem, not anyone's else or BTC's problem itself.

Just to add on to your post.

"Bitcoin has no ethical rules" it only has "Technical Rules".

Pump&Dump, market manipulation, stealing, scamming, crashing the market and going short on it.... all allowed in Bitcoin.
So Bitcoin is ethically as fair as Anarchy...

Anything can be said about any technology and even about any money.

People have ethics, technologies aren't sentient so they can't have ethics by design

[BitHodler]

As long as people poop their pants when there is whatever Chinese announcement regarding crypto in general, the whales behind all this will continue to play this market like it's a piece of cake.

It shows that people put their hard earned money into something they don't know much about, and don't know how a fairly common form of manipulation works that applies to basically any market in the world.

If people stop reacting to whatever fud attempt, the whales behind all this will no longer have any incentive to continue. It's the people here that are to be blamed, and that time on time again, which is quite embarrassing.

[Morguk]

I think it's pretty clear we're heading for $2500 or even $1800 and then heading back up. The only thing that will put a spanner in the works is Seg2x.