The biggest battle for Bitcoin's life is coming

[Wind_FURY]

BUMP!

I see that the topic was made TWO YEARS early. The largest SOCIO-POLITICAL, and SOCIO-PSYCHOLOGICAL attack is happening RIGHT NOW through the FUD by state-level actors of the Chinese Government. They will try to convince you to sell, DON’T, just HODL. As a community, Bitcoin needs us to stick together, and not be disunited in mind by these FUDsters.

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[iTradeChips]

BUMP!

I see that the topic was made TWO YEARS early. The largest SOCIO-POLITICAL, and SOCIO-PSYCHOLOGICAL attack is happening RIGHT NOW through the FUD by state-level actors of the Chinese Government. They will try to convince you to sell, DON’T, just HODL. As a community, Bitcoin needs us to stick together, and not be disunited in mind by these FUDsters.

Seems like China is upping their game this time though. If they cancel bank accounts based on involvement with Bitcoin, Chinese miners can't sell their Bitcoin.

They have even coined a term for what is happening in China - Great Mining Exodus. From the looks of it, they have no choice but to move their operations to Bitcoin friendly countries. Some chose neighboring Kazakhstan for their mining operations. But the more advanced or monied miners might chose western countries such as Canada, the United States, and northern European countries. Chinese authorities gave them 2 months to pack up and leave.

Source: https://www.cnbc.com/2021/06/15/chinas-bitcoin-miner-exodus-.html

[swiftbits]

We can survive this, it could take longer to recover the losses, but there are still so many possibilities considering how huge our community now.
Keep HODLING your coins, don't sell for negative profit.

[nutildah]

This is hardly one of those epic battles. This is just another price adjustment.

Exactly.

Bitcoin does not care about its price.

[iTradeChips]

This is hardly one of those epic battles. This is just another price adjustment.

Well, for some yes, you can turn a blind eye on the attacks of the different establishments in many countries about Bitcoin. Also, the FUD that is the consequence of it. Many of those who bought in the highs, when Bitcoin was in $50,000 to $60,000 possibly has sold their assets at a big loss, many of them might have hold on. Right now there is a big price correction and the winner of it might always be the monied investors and those who might have the power to manipulate. Not an epic battle for some, but for others this is the real deal and ignoring their sentiments would seem kind of selfish.

[nutildah]

This is hardly one of those epic battles. This is just another price adjustment.

If that's the case then it's good to know, But what could be the stable price adjustment is going to be this end of the month. But I am seeing many people are selling BTC because of FUD, FOMO news, Reading positive comments will surely be helpful to other members who are panicking right now

Meh... more blood needs to be let to cast the nonbelievers out. Let the bloodbath wash away the impurities of heart and soul. Or something.

Sorry that a lot of kiddies had to get rekt but the game has been like this since long before I jumped in.

Crypto markets are like the most hypercapitalistic forces there are... Lessons must be learned quickly or utter rektness is a near certainty.

[Wind_FURY]

This is hardly one of those epic battles. This is just another price adjustment.

Exactly.

Bitcoin does not care about its price.

The price? Who said anything, or mentioned anything about Bitcoin’s price? I believe many people in the community are not fully aware that there’s a large, totalitarian State that’s actually very aggressive in moving against Bitcoin, and its impact.

[clint25n]

if indeed this is a battle then get ready to be involved in it, and whatever happens.then it is very optimistic that bitcoin will win this battle. what's more, bitcoin is currently in such a great shock from the pressure of several countries , one of which is china, and we are very confident that bitcoin is able to win this battle. and the price will return to stable at its original price, as in recent yearsin.the eyes of the public

[fourna]

prob all just starting to normalize. all the nicehash noobs that get paid in btc, selling their rigs for summer money.
just now 50x 3080 for €1200 dropped on mindfactory.
let's see how this ends. I should've bought after the minecraze. what a noob.

typical me. never bothered buying bc of KYC, and now had to KYC anyway and bought at high. hilarious

[nutildah]

Bitcoin does not care about its price.

The price? Who said anything, or mentioned anything about Bitcoin’s price?

You did, though in a roundabout way.

They will try to convince you to sell, DON’T, just HODL.

Or how about this? Use Bitcoin for what it was designed to do and don't worry about its price.

C'mon man. We both know that China can shuffle around miners and turn switches on and off to their hearts content and the end result is some wonky block times.

[gundala]

I thought we've already seen it's biggest battle when it dropped bitcoin to $3200, if this one is bigger, then probably we will go back to $1000.

I don't know where the market goes, but I believe we haven't seen serious concerns from "them" like this before. For the first time, the state-level actors are concerned about losing their power/monopoly over money/currency creation/printing.

this bullrun, marked by the increasing adoption of bitcoin, and more and more new people coming. Moreover, many influencers have started to popularize bitcoin and cryptocurrencies in general. so many newbies come because of hype, fomo, and want instant profit. bought without calculation for fear of missing the ship. Finally, without proper preparation, "they" panic buy, easily carried away by the waves, so they panic sell. it's like you go to the battlefield only with the determination to win, without the preparation of weapons and strategies. how to win? Is it enough to rely on luck alone? well, maybe you can, but luck will not always be on our side.

I prefer a person who is considerate, every decision is made based on what he believes, then accepts the worst case scenario as a risk of getting involved in the crypto ecosystem.

[dzonikg28]

BUMP!

I see that the topic was made TWO YEARS early. The largest SOCIO-POLITICAL, and SOCIO-PSYCHOLOGICAL attack is happening RIGHT NOW through the FUD by state-level actors of the Chinese Government. They will try to convince you to sell, DON’T, just HODL. As a community, Bitcoin needs us to stick together, and not be disunited in mind by these FUDsters.

Seems like China is upping their game this time though. If they cancel bank accounts based on involvement with Bitcoin, Chinese miners can't sell their Bitcoin.

They have even coined a term for what is happening in China - Great Mining Exodus. From the looks of it, they have no choice but to move their operations to Bitcoin friendly countries. Some chose neighboring Kazakhstan for their mining operations. But the more advanced or monied miners might chose western countries such as Canada, the United States, and northern European countries. Chinese authorities gave them 2 months to pack up and leave.

Source: https://www.cnbc.com/2021/06/15/chinas-bitcoin-miner-exodus-.html

Yes I also read some sources where it was said that this is beyond doubt serious by the Chinese government. They won't revoke their decision. That surprises me a bit I must admit. So far it often has all been about threatening, but this time the threats are real and they act upon them.
I think the miners shouldn't have too many problems to transition their operations into another country. I don't know in how far neighboring countries are inclined to host those mining operations. The question is probably anyway whether they can obtain electricity prices as cheap as they could in China in order to stay competitive.

[zanezane]

This was said by someone in my opinion a long time ago when the prices were going down in 2018 so I don't think this title isn't relevant anymore because we all know where this is going in the long run which is consistent to what bitcoin has did for the past decade.

[Wind_FURY]

Bitcoin does not care about its price.

The price? Who said anything, or mentioned anything about Bitcoin’s price?

You did, though in a roundabout way.

I did? Did you read the OP and got the context?

They will try to convince you to sell, DON’T, just HODL.

Or how about this? Use Bitcoin for what it was designed to do and don't worry about its price.

OR, maybe we should be made more aware that Bitcoin might always be under attack from all directions, from State-level actors, from the gnomes behind the Central Banks, from trolls gaslighting the naive. All the FUD.

C'mon man. We both know that China can shuffle around miners and turn switches on and off to their hearts content and the end result is some wonky block times.

I’m talking about the propaganda that goes with it. “It’s not a currency/store of value, too volatile. It’s risky, criminals use it. POW is a waste of electricity, it’s destroying the environment”.

[uneng]

The offensive towards bitcoin is so huge right now because governments are reaching close to the time they are going to launch their own crypto currencies. So they need to defamate and act behind the curtains to weak bitcoin maximum as possible in order to make their own crypto currencies look better to the public's eyes.
Of course China is at the top of this offensive, because crypto community gave too much power to that country, but China isn't by itself on this quest. Even Trump made negative statements about bitcoin recently, what means attacks are coming from all sides.

[lepbagong]

The offensive towards bitcoin is so huge right now because governments are reaching close to the time they are going to launch their own crypto currencies. So they need to defamate and act behind the curtains to weak bitcoin maximum as possible in order to make their own crypto currencies look better to the public's eyes.
Of course China is at the top of this offensive, because crypto community gave too much power to that country, but China isn't by itself on this quest. Even Trump made negative statements about bitcoin recently, what means attacks are coming from all sides.

I hope what you say about the bad news attack, what China has done will actually make many people, especially bitcoin investors, not all affected and want to think clearly. because the goal that is carried out by China is not only this time and has been done before, but really hopes that what is being done now will open their minds to not always believe in bad news. because this will certainly make things that are not positive for future progress.

let what has been going on and resulted in a very deep correction for bitcoin will not continue and there will be other good news that can make bitcoin move up and make those who want to do bad news again, will not be to make bitcoin in the future so slump .

[uneng]

The offensive towards bitcoin is so huge right now because governments are reaching close to the time they are going to launch their own crypto currencies. So they need to defamate and act behind the curtains to weak bitcoin maximum as possible in order to make their own crypto currencies look better to the public's eyes.
Of course China is at the top of this offensive, because crypto community gave too much power to that country, but China isn't by itself on this quest. Even Trump made negative statements about bitcoin recently, what means attacks are coming from all sides.

I hope what you say about the bad news attack, what China has done will actually make many people, especially bitcoin investors, not all affected and want to think clearly. because the goal that is carried out by China is not only this time and has been done before, but really hopes that what is being done now will open their minds to not always believe in bad news. because this will certainly make things that are not positive for future progress.

let what has been going on and resulted in a very deep correction for bitcoin will not continue and there will be other good news that can make bitcoin move up and make those who want to do bad news again, will not be to make bitcoin in the future so slump .

Yes, people need to open their minds and stop giving too much credit to bad news. To do this it's very simple: people just need to stop being immediatist. They want fast profit, double investment in few weeks and no negative fluctuations in btc price. If this mindset is changed and the expectations become focused on the future (at least few years) instead of focusing it on the present, bad news won't influence them anymore in the same way it currently does. We have already seen deep corrections before, and the good side of history is that btc always recovered after all.

[randegibran]

if this is a battle, I'm sure that bitcoin will be able to face this battle. in the midst of such a price drop and some pressure from outside countries.which makes the stock price decline even more. this will be a real battle to see a price that will back to its stability.so therefore I am very sure that bitcoin will be able to win this battle

[nutildah]

I’m talking about the propaganda that goes with it. “It’s not a currency/store of value, too volatile. It’s risky, criminals use it. POW is a waste of electricity, it’s destroying the environment”.

And all this stops bitcoin how exactly?

gaslighting

 

[Kittygalore]

if this is a battle, I'm sure that bitcoin will be able to face this battle. in the midst of such a price drop and some pressure from outside countries.which makes the stock price decline even more. this will be a real battle to see a price that will back to its stability.so therefore I am very sure that bitcoin will be able to win this battle

This is not as bad as 2018 and 2019, the prices are much higher than the past even though the prices are on the red. No real battle in my opinion because the prices are no yet going down the 4 digit territory.