Is China fucking with us so they can get cheap coins?

[BitChick]

I had already thought about this.  Maybe the manipulation was not done entirely on purpose though.  It seemed that China was worried about banks getting involved with BTC which is risky.  We cannot deny that!  So China put some rules into place.  But now they see an opportunity perhaps and realize that they should not be so restrictive, maybe just put more regulation in place like the US so that they can see who is buying coins and then tax them or whatever they need to do.  So they "release" news in a few weeks giving more freedom back to the people.  In the mean time does the goverment buy coins?  That I do not know.

Regardless,  I am pleasantly surprised that in spite of all this crappy news BTC has managed to stay in the $500-$600 range.  I could have been worse.  

Also, China is only one country in all of this.  Granted, it has been the biggest player, but there are more players in the game.

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[accord01]

I had already thought about this.  Maybe the manipulation was not done entirely on purpose though.  It seemed that China was worried about banks getting involved with BTC which is risky.  We cannot deny that!  So China put some rules into place.  But now they see an opportunity perhaps and realize that they should not be so restrictive, maybe just put more regulation in place like the US so that they can see who is buying coins and then tax them or whatever they need to do.  So they "release" news in a few weeks giving more freedom back to the people.  In the mean time does the goverment buy coins?  That I do not know.

Regardless,  I am pleasantly surprised that in spite of all this crappy news BTC has managed to stay in the $500-$600 range.  I could have been worse.  

Also, China is only one country in all of this.  Granted, it has been the biggest player, but there are more players in the game.

It did get worse.  And it will get even more bad as more countries want to protect their citizens and/or despise bitcoin and put some lids on the cryptocurrency.  Denmark is one of them.

[David Rabahy]

If a truly free market can be manipulated by rumors then so be it.  It seems like modern life has created folks that can't take the heat anymore.  Grow a backbone.  Relax and enjoy the ride; or panic if you prefer.  It's a free market, unlike fiat which can be price-fixed.

Can China or anyone for that matter manipulate the exchange rates of Bitcoin?  Heck, I know for a fact that I can personally.  All I have to do is enter a buy or a sell (or both) and the exchange rates will tend to be attracted.  This should come as no surprise.

If you are a believer then be clear what you believe in.  If China denies/resists what you believe in then they just miss out *if* you turn out to be right.

Bitcoin is "An idea whose time has come!" http://en.wikiquote.org/wiki/Victor_Hugo

[Tzupy]

Something is fishy about China IMO: the volume of today's drop seems too low for the third sub-wave of wave C.
I'm not buying until I'm sure that the market has hit the very bottom, and at least for China, I don't think it has yet.

[Hunterbunter]

I see two possible scenarios.

The first is that the OP is correct and the market is being manipulated down via rumours so the chinese can buy up big. They're very smart when it comes to this sort of thing, and play the long game, so I wouldn't put this in the realm of impossiblity.

The second is that the OP is incorrect and they genuinely believe they want to remain in control and protect their national currency. In this scenario, prices return to pre-china (ish) levels, and the rest of the world continues to approve of bitcoins (eg germany), and continue buying and using them, until a point where china has no choice but to realize they made a mistake.

[AnonyMint]

BTC China was a startup with amazing promise.  It was probably valued at 2-3 Billion USD, or more, and growing exponentially, before this mess with government control.  That means that the exchange itself was comparable in value to the entire payment system.  To even suggest that such a valuable company would jeopardize its existence simply to grab coins at a cheap price is lunacy.

The incentives don't add up.  This would be like suggesting Facebook crashes its own stock to buy them back at a cheaper price.  

I didn't suggest BTC China was complicit. I suggested Baidu and some other elite are.

If a truly free market can be manipulated by rumors then so be it.

Astute. The masses must always be wrong.

[seriouscoin]

I see two possible scenarios.

The first is that the OP is correct and the market is being manipulated down via rumours so the chinese can buy up big. They're very smart when it comes to this sort of thing, and play the long game, so I wouldn't put this in the realm of impossiblity.

The second is that the OP is incorrect and they genuinely believe they want to remain in control and protect their national currency. In this scenario, prices return to pre-china (ish) levels, and the rest of the world continues to approve of bitcoins (eg germany), and continue buying and using them, until a point where china has no choice but to realize they made a mistake.

When you said "the chinese" you meant the government and not its ppl did you?

Because.....it wouldnt make any sense other wise.

The CCP only cares about its State and not its ppl ....