China

[Febo]

What will be the effects of China's self imposed exclusion from crypto? not only to the bitcoin price, but to China's economy if/when bitcoin goes huge?

I read in news yesterday that China is coming back to bitcoin and cryptocurrencies.  I think it is all manipulations and also attempts to create opportunity for it citizens to buy cryptocurrencies at cheap price.  I decided to look at the current happened in cryptocurrencies market as a plan for some people to get some coins at cheap price. Remember that big boy and whales makes their money through manipulations and fakes or bad news.

Coming back LOL. One court in china made one decision. That is what courts do. Governments set their own regulations but they should obey the country laws. Some do it faster then others.  But in generally you can see how it is with courts. One day they rule this way and next day totally opposite. Crypto is disruptive and will take long time to settle in countries laws.

[yugyug]

China had a big contribution to crypto industry although their government imposes a stricter policy to their citizens regarding to those who want to involve in crypto bandwagon but the Chinese businessmen has a lot of influence to contribute to crypto mining industries like Bitmain and their Antminer products where it makes the bitcoin mining more profitable compared to other competitors. Combined with all mining pools from China it takes about almost 50% of large mining pool came from them, so we might say that Chinese people contributed a lot crypto industry but Chinese government trying to stop it or regulate it but Chinese people are unbeatable so in the later time Chinese government will soon ride the bandwagon.

[cellard]

I've got mixed feelings about this. I'll agree that the volume on Chinese exchanges was absurd and that price started trending up hard after they were shut down. But that could be coincidental.

More than possible but China did have some weird hold over traders from elsewhere.

When it costs you nothing to trade then that's quite radically opposed to how the rest of the market works and the behaviour will be different accordingly.

Throw in the stupidity of thinking a market is more authoritative because of its fake volume then you have a recipe for a deadlock that needed to be broken, and was.

It looks like China is not even relevant in Bitcoin anymore. I remember when they used to literally manipulate the market with all the PBOC press releases, it was clear in the graph when they released a new statement. I don't see this as clear anymore.

Last time I saw China tumbling down the price was with the ICO ban+exchange shutdown combo:



And still it recovered a while after.