Once China fully realizes it has been betrayed...

[totemITnow]

All I see here is... 'please please please let the price crash down a bit so I can buy back my bitcoins, I thought it had peaked so I sold,  but then it went up to $1200 and now it needs to go down a lot otherwise I've lost loads'
Well guys FUD won't help you, wishful thinking won't either.
My biased bullish advice is to buy back in now, and accept your hair cut.

My opinion is no need to hurry buying now, price is relatively stable and can go both ways. Better is wait for more news

[cryptocoinmkt.com]

What is interesting about china is that every body complains about them. They rob our jobs etc.

Actually people do not understand economics very well and do not understand that china has propped our economy up so much with cheap goods and buying our debt. In a way they are just handing us free stuff. It is like if we had a robots here building the stuff for free.

China keeps getting burned though.

But you have to also understand they also stole all our ideas on how to build all these goods and build their economy. If it was not for our technological advancements they would probably be nothing. So they gained and we also gained.

So you can look at this both ways.

+1 Agreed.

I like to add though, that in the past 5 years the U.S Federal reserve has been printing Trillions of U.S dollars.  The chart for the money printing now looks like a hockey stick.

So in the last 5 years, China has gotten really screwed by the U.S.A. 
China owns over 1 Trillion dollars of U.S Treasuries, and as the bankrupt U.S government prints more money, it puts itself further into debt heading toward default and eventually will not even be able to pay interest to investors/holders of U.S bonds/treasuries like China, Japan and Germany (3 largest holders of U.S debt).  So you see, it's not just China that is going to be screwed.

Think about it, if you bought bonds from a bank and the bank defaults and you lose your interest and principle (all your money) investment. Are you going to be happy?

That is why the world is the way it is today, because the U.S government spent tomorrows money today, and it got worst from president to president, they just wracked up the credit card with no intention to pay back.  This will eventually lead to "WAR". Why do you think the U.S is in middle east, why do you think tensions are rising between Japan and China.  A war is being instigated, trying to coax China into a war.

Any, how does all this relate to Bitcoins. 

Bitcoins is a store of value, similar to gold. This comparison has been made several times by finance writers.

The world's geo-political situation is getting worse, and if you can see the writing on the wall ... a United States major devaluation of the dollar or default is coming.  RESET.   This can lead to war and other bad economic events to happen. 

In an environment like that, what are people going to do?  Look towards history.

- People will use their money to buy things of value, because if the U.S dollar doesn't survive,  gold and silver will and possibly Bitcoins and other crypto currencies. During a reset there is also "confiscation of GOLD". 
- People might by Bitcoins because it will be harder to confiscate....who knows.

The really long term view is that if and when the SH!T hits the fan, those stores of value will go up in price significantly. 

Just my 2 cents....and there is a chance I may be completely wrong. 

You can learn more about the U.S economic situation by taking a course , link below:

http://www.peakprosperity.com/video/218/playlist/153/chapter-1-three-beliefs

[sgbett]

China is smarter than "the west". The reason they are all over BTC is because they understand what is happening to the global economy.

Whether bitcoin was invented by the legendary and mystical Satoshi Nakomoto, or is actually the work of some highly secret govt dept in the US that has delivered what it hopes will prevent the total collapse of the USD based currency ponzi. It matters not.

The fact remains the current system is unsustainable, bitcoin conceptually serves as a sound replacement (implementation details are incidental, but to date those details have been pretty goddamn bulletproof, still not the point). All that needs to happen is for the current economic wealth (as measured int he world reserve currency, the USD) to be transferred to bitcoin. Whilst the US govt knows it was fun being able to print money whilst it lasted, it is not *so* stupid as to see that its not really a sustainable model. It knows it needs a 'gold standard' but alas, all the gold is elsewhere so it can't just pet 'er in reverse. Instead its doing what it does best - printing money! Just this money is 'special'. It's actually a digital version of all that gold they once had.

So, when people argue that bitcoin isn't backed by anything, then saying "well neither is the USD" is missing the point.

Bitcoin *is* backed by the USD. The world's reserve currency. If USD is (was?) good as gold, then by extension, so is bitcoin. Sure it will be a easier to swallow once it gets fully recognised by the banking system, and is good for paying taxes etc but patience my children, we can't really expect that at this early stage in the game. As the wealth transfer progresses, these things will come to pass.

So this thread, is absolutely way off the mark. China hasn't *been betrayed* that is just typical western arrogance. Toake a dose in humility, China is once again pwning the rest of the world.

China is and always has been smart. China knows exactly what is going on. I don't see any news stories about how China doesn't have enough gold, is running the presses or is at risk of hyperinflation. Ask yourself why that is.

(Yeah i'm long. Wish I was longer).

[MatTheCat]

China is smarter than "the west". The reason they are all over BTC is because they understand what is happening to the global economy.

China, in order to keep its industry competitive, has pegged its currency to the dollar which broadly speaking means that every time Ben Barnanke or the US banks churn out a new dollar, China must churn out 8 new RMB. China has therefore imported the US's inflation problem or another way of looking at it, China has been accepting US funny money in exchange for real goods and services. Not smart!

However, since u think China is so smart, I will advise that BTC is cheaper now in China than anywhere else.

What do these 'smart' Chinamen know that us dumb westerners don't?

Oh yes, and market seems to be going the way that I am betting it will.

[sgbett]

China is smarter than "the west". The reason they are all over BTC is because they understand what is happening to the global economy.

China, in order to keep its industry competitive, has pegged its currency to the dollar which broadly speaking means that every time Ben Barnanke or the US banks churn out a new dollar, China must churn out 8 new RMB. China has therefore imported the US's inflation problem or another way of looking at it, China has been accepting US funny money in exchange for real goods and services. Not smart!

However, since u think China is so smart, I will advise that BTC is cheaper now in China than anywhere else.

What do these 'smart' Chinamen know that us dumb westerners don't?

Oh yes, and market seems to be going the way that I am betting it will.

Thats good. I hope you do well in whatever trade(s) you make, and are able to get out/in at the right moment. I am envious of those that are successful trading, I hear lots of stories about how much people made. I made a few good trades in my time, but I made more losses. Its funny you don't hear so much about people's losses.

China's currency may indeed be pegged to the dollar, much as every currency is. I think that kind of misses the point that the amount of *money* China has isn't actually affected by US shenanigans. When all is said and done, the great fiat currency experiment will see winners and losers. When the 'war' is finished, I think those on the losing side will find little comfort in the battles they won.

I see BTC as a part of the experiment. In fact I see it as precipitating the endgame. I might be wrong, but if I am the risk to me is tiny. If I am right the reward is high.

More importantly, if you position yourself on the other side of the argument, your risk reward ratio is transposed. I've been around long enough to know that high risk for little reward is not a good bet.

[MatTheCat]

Thats good. I hope you do well in whatever trade(s) you make, and are able to get out/in at the right moment. I am envious of those that are successful trading, I hear lots of stories about how much people made. I made a few good trades in my time, but I made more losses. Its funny you don't hear so much about people's losses.

China's currency may indeed be pegged to the dollar, much as every currency is. I think that kind of misses the point that the amount of *money* China has isn't actually affected by US shenanigans. When all is said and done, the great fiat currency experiment will see winners and losers. When the 'war' is finished, I think those on the losing side will find little comfort in the battles they won.

I see BTC as a part of the experiment. In fact I see it as precipitating the endgame. I might be wrong, but if I am the risk to me is tiny. If I am right the reward is high.

More importantly, if you position yourself on the other side of the argument, your risk reward ratio is transposed. I've been around long enough to know that high risk for little reward is not a good bet.

Meh...I have been using Bitcoin for years but have been speculating with it for not much more than 3 weeks or so......although I have missed the glittering opportunity that most of the rest of you have experienced, I have done pretty well so far....up about £5K - £7K...hard to keep track of exactly how much and of course, I have had some bad trades and there is plenty opportunity yet, for these gains to be reversed and turn into body numbing losses, especially now that I am gambling in a clear and undisputable bear market.

Your post sounded like you were projecting China as some kind of hero that was going to come and save Bitcoin, but in reality, it is the Chinese market that is bringing Bitcoin down.

What you say about BTC 'precipitating' the end game makes you sound like a Bitcoin fundamentalist. Fundamentalistic thought, always leads it's bearers up dead end alleys.