China and Bitcoin Mining

[chiggz]

Hello All,

Quite new to the crypto game and just wanted your thoughts on this, I'm considering buying bitcoin when the price hits its low aftet the recent news from China.

My question is how low do people think it will drop too? How confident are people that it will recover?

Looking at what happened in Sep-17 it went low but then rapidly increased do you think this will happen again.

https://qz.com/1174091/china-wants-an-orderly-exit-from-bitcoin-mining/

If everyone knew when the price would dip and how low, everyone would have bought Lambos long back. People will just speculate so and so might happen. Take it as a grain of salt. Markets go the way they want based on a lot of external factors.

Don't go by bans. It will NEVER be over. Buy BTC because you trust/believe in it, not because you want to make a quick buck.
The governments are basically bought out by banking cartels, and they will never allow Crypto unless it is their own and which they can control. It is about control, power is secondary and it comes as a benefit. Invest wisely and what you can afford to loose.

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[hase0278]

Buy BTC because you trust/believe in it, not because you want to make a quick buck.
The governments are basically bought out by banking cartels, and they will never allow Crypto unless it is their own and which they can control. It is about control, power is secondary and it comes as a benefit. Invest wisely and what you can afford to loose.

Probably buying at any point just because of own belief and trust in btc ain't enough to maximize profit. One of the good ways to do it is to buy after dump occurs in order to have cheaper Bitcoins. As far as I know, governments on some countries allow crypto as is like Japan so why have the thought of banking cartels controlling them? Those countries who banned it just want total control over their citizen's assets.

[chiggz]

Buy BTC because you trust/believe in it, not because you want to make a quick buck.
The governments are basically bought out by banking cartels, and they will never allow Crypto unless it is their own and which they can control. It is about control, power is secondary and it comes as a benefit. Invest wisely and what you can afford to loose.

Probably buying at any point just because of own belief and trust in btc ain't enough to maximize profit. One of the good ways to do it is to buy after dump occurs in order to have cheaper Bitcoins. As far as I know, governments on some countries allow crypto as is like Japan so why have the thought of banking cartels controlling them? Those countries who banned it just want total control over their citizen's assets.

You are talking about some countries. There will be exceptions. But if you are upto date with the news you will read at least one news about Banks and Bitcoin controversy. Banks not only wants to keep our money but also tell us where to spend it and where not.

 
Here I will post some for you to look at

https://www.bloomberg.com/news/articles/2018-01-22/nordea-bans-employees-from-trading-bitcoin-spokeswoman-says
https://www.coindesk.com/merrill-lynch-bans-clients-from-investing-in-bitcoin-fund/
https://dowbit.com/indian-banks-freeze-major-cryptocurrency-exchange-accounts/
https://news.bitcoin.com/korean-crypto-exchanges-share-data-with-banks-new-account-system/

I can go on and on with the links but I guess you get the point.

[Pintasak]

Hello All,

Quite new to the crypto game and just wanted your thoughts on this, I'm considering buying bitcoin when the price hits its low aftet the recent news from China.

My question is how low do people think it will drop too? How confident are people that it will recover?

Looking at what happened in Sep-17 it went low but then rapidly increased do you think this will happen again.

https://qz.com/1174091/china-wants-an-orderly-exit-from-bitcoin-mining/

Its just only a matter of time.Btc mining in China is mainly an opportunistic way of making some money out of the failures and inefficiencies of the power system.

[South Park]

Hello All,

Quite new to the crypto game and just wanted your thoughts on this, I'm considering buying bitcoin when the price hits its low aftet the recent news from China.

My question is how low do people think it will drop too? How confident are people that it will recover?

Looking at what happened in Sep-17 it went low but then rapidly increased do you think this will happen again.

https://qz.com/1174091/china-wants-an-orderly-exit-from-bitcoin-mining/

A significant amount of users in the forum believe the price is going to recover what we do not know is when that is going to happen but it will, bitcoin is just a very volatile asset that can be manipulated by big investors, the only thing you need to do is to hold despite the circumstances however this can be hard if you do not have some understanding of the technology, so I recommend that you read more deeply about how bitcoin works and you will get more confidence to keep holding.

[CongHoan]

It's alway down and up

[Sidiq SP]

for the time being we do not know how deep it is to the lowest point of the decline, but one thing I am sure is that it will rise again, because in spite of any upheaval, big investors and cukongs will not want to lose and will find how to coin this is to rise again, but for the time we may not know when that rise will happen, all we can do now is to stand as hard as possible, do not panicsell, it will make things worse

[yurenchuang7125]

Global bitcoin mining is almost monopolized by Chinese entrepreneurs. China is no doubt the biggest mining country for bitcoin, but the current mining boom may be changed by the government's crackdown. So far lateral comparison, the Swiss encryption monetary dig mining much smaller, but the Swiss stable political situation, the regulatory environment loose, alpine cold climate, water and electricity resources obtaining relatively convenient enough, these factors for encryption monetary miners are advantaged advantage.