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Author Topic: Does China FUD matter anymore?  (Read 418 times)
DapanasFruit
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November 15, 2020, 06:08:30 AM
 #21


As of now, it seems to me that we now over the influence of the Chinese governments as to the price movement of Bitcoin. Or it can be because for the past many months the government has not made any pronouncement relevant to it. However, I also believe that the market has been already wary of the influence which news from China on cryptocurrency. In other worlds, we are fully tired of them and we are not anymore listening though we are still recognizing the fact that many Chinese are holding vast amount of Bitcoin and their actions can still sway the market to go up or down and the fact that Bitcoin mining is still lead by China.

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November 15, 2020, 06:13:48 AM
 #22

I guess it got blown over already, and any type of similar news would similarly have the same ending. Not to mention that China is advocating for its own cryptocurrency no? Not that I've heard much news about it recently though. Not to mention that the number of exchanges is increasing more and more, and well, if I were them, I'd develop the exchanges to ones that can operate in a global scale. With that, I'd really doubt that crackdowns in china would matter much. Besides, one way or another, FUD is just hyped up news of an event that literally contains about 1% truth. The majority of them are just over-exaggeration of the reality, mainly so that it can actually be called as "news".

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November 15, 2020, 06:23:15 AM
 #23

Based on the following, I'm assuming the so-called continued crackdown on crypto in China is becoming less and less relevant if users are merely moving away from Chinese exchanges. Anyone have more understanding of this? It also seems that China changes it's mind so often that almost nothing legally sticks in the end anyway.



Quote from: CoinDesk
Bitcoin flows to Binance from Huobi reached an all-time high since the Huobi chief operating officer, Robin Zhu, allegedly went missing on Nov. 2. According to data provided by CryptoQuant, a total number of 18,652 bitcoin, worth nearly $300 million, was transferred from Huobi to Binance from that day until Nov. 11.

Source: https://www.coindesk.com/china-exchanges-crackdown-binance-huobi-okex

I still remember the "China FUD" in the past, it used to be one of the worst types of FUD I thought. Now it just reads like old news going round in a circle again.

Base on the movement of the market, the kind of news like this won't matter that much anymore in the crypto industry. However, they have some better ways to hide the main reason for his disappearance and most of the crypto users leave nothing but to speculate. Okex exchange, on the other hand, has something fishy with their exchanges, they don't give us a valid reason on why our funds stuck on their exchange. there are rumors that this Huobi incident links to what is happening in the Okex exchange right now where they disable the withdrawal for about a month now. Anyway, that just some rumors but still, we want to know the truth.

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November 15, 2020, 06:39:21 AM
 #24

China FUD is always metter due to the market specific. Everyone scare any FUD in the industry so much that any bad news from china could stop this run and cause big dump
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November 15, 2020, 07:25:15 AM
 #25

The FUD always have impact one way or the other but what I have noticed since the beginning of this pandemic is that there has been no FUD from them much. I guess they are focused on the health sector than the digital currency world.
The only FUD can be anything about mining which would cause negative impact on BTC because there are lot of miners from there part.
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November 15, 2020, 07:57:29 AM
 #26

In the past, news related to China being banned by Bitcoin affected the price of Bitcoin, but after Bitcoin became more popular
and several countries legalized Bitcoin. Even some big companies accept Bitcoin, now China FUD is not a problem anymore.
Because many Bitcoin holders don't care about it. So whatever happens in China regarding Bitcoin doesn't have too big an effect
on Bitcoin's price movements anymore.

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November 15, 2020, 08:16:23 AM
 #27

In my opinion this will not affect Bitcoin, because there is a lot of news about FUD for Bitcoin, especially from China, always seen when the price of Bitcoin goes up there will definitely be news about FUD but all the news they spread has not had a bad impact with Bitcoin until now . So don't panic too much about this FUD news about Bitcoin.

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November 15, 2020, 07:30:50 PM
 #28

No one cares about any nation's negative perception of bitcoin.  People are wiser now to know that bitcoin is leading the next financial revolution. Holders don't want to be lied to again. Bitcoin always come stronger after every dump, it has proved to be the most profitable investment these days, outperforming gold and silver.

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November 15, 2020, 07:42:24 PM
 #29

China's strategy to create fear amongst crypto users about their (China's) possession of BTC has turned old and already known to many users. I believe that the negative influence China had on the users was because it probably controlled more than 50% of the total mining hash power, but now things are under control and everything has been spread out. So there's nothing much to worry about.



--snip--

Honestly, I'm not a user of okex but I've heard a lot about them before, and it's quite shocking that they've kept their users' funds under their possession for more than a month. Doesn't it look like a scam already happened and they are trying to hide it? I mean, an exchange hack or if that guy Robin may have run away with their funds?

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November 15, 2020, 08:48:03 PM
 #30

China FUD is always metter due to the market specific. Everyone scare any FUD in the industry so much that any bad news from china could stop this run and cause big dump

Not really.

I remember Chiese FUD from 2015 and it was all about exchanges being shut down. First they were planning to ban Bitcoin then banned only exchanges, then there were rumors about mining bans and such.

These news mattered for 2 reasons.
1. There were still big exchanges in China and a lot of trading volume came from there. Not anymore.
2. People believed in the news because they thought it could be real but the more of it was disproved the less people reacted to the new ones.
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November 15, 2020, 09:27:30 PM
 #31

No Chinese users on Bitcointalk to give us an idea of what's going on ? Surely BTC users in China are familiar with using VPNs and the like so I'm surprised nobody is here, or maybe they're incognito.
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November 15, 2020, 09:56:42 PM
 #32

No one cares about any nation's negative perception of bitcoin.  People are wiser now to know that bitcoin is leading the next financial revolution. Holders don't want to be lied to again. Bitcoin always come stronger after every dump, it has proved to be the most profitable investment these days, outperforming gold and silver.
'

Im aint fan of comparing bitcoin to other traditional investment specially with natural resources that can be found on earth and have that significant value.It is in completely different area imho.

In talks about China FUD then i can say that we are little bit get used to it or even safe to say that we dont really care at all.We've seen in the past that their decisions goes back and forth in regards
to ban and then revoking such law then goes again.

Knowing that theyre one of the main players when it comes to mining industry.They can ban all they want but this market would remain still and this one cant really be controlled off.

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November 16, 2020, 03:34:04 AM
 #33

We can't deny that China really has greatly impact Bitcoin but that won't be long. China FUD can still affect Bitcoin in some ways but that doesn't really mean it will significantly change Bitcoin. BTC dominance is spreading in different areas, sooner or later we'll have Chinas dominance insignificant.

I think for now, their FUD still matters if they timed it right.
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November 16, 2020, 03:58:29 AM
 #34

China with their regular banning & unbanning of bitcoin used to have a big effect on the price. I don’t think anybody cares any more, the shock value in what China does or doesn’t do in relation to bitcoin doesn’t really cause an impact these days.
I do not get their government cracking down on bitcoin when they have a state owned bitcoin farm that mines a lot of bitcoin. I agree about the indifference of many people about China's side on bitcoin, good thing that the adoption is spreading around the globe like a wildfire albeit a slow one.

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November 16, 2020, 04:08:00 AM
 #35

China really doesn't matter in global landscape anymore in any front and definitely not on the crypto scene. Since ages, the Chinese government has tried to bully and threaten their neighbors. Tried to take over the lands and oppressed certain minority communities by throwing them into the jail and so on... The world is slowly started resisting against them and this movement will gain more and more traction in coming years. So the world has started ignoring China for good!

China was never positive about cryptocurrencies and they are the first country to ban ICOs. Now when they have realized that they can't control bitcoin, they are simply abducting the key people from the crypto exchanges. I have been diligently avoiding any Chinese exchange since last few years. And the pricing trend shows that the world will also not give in to China's dismissals. They don't matter anymore! 

 

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November 16, 2020, 04:15:42 AM
 #36

Chinese government always want their development to see in the top list their main motto is to focus on "Yuan" However BTCs domination is extremely high like BTC they wanted to see Yuan as a more popular coin in the world, Unfortunately this is not going to happen in my personal opinion but still Chinese FUDs are impacting BTC undoubtedly. If they legalize I am sure BTC price will go over the moon.









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Untomabur
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November 16, 2020, 04:54:56 AM
 #37

I like FUD from China, this is a sign where the whale wants to accumulate the Bitcoin price below,
because it is certain that Bitcoin will reach a new all time high, the correction is also quite deep,
the Bitcoin price is below $ 16000 again.

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bryant.coleman
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November 16, 2020, 05:34:25 AM
 #38

The Chinese government has probably realized that it is impossible to ban a decentralized asset such as Bitcoin. In order to ban Bitcoin, they need to shut down the internet. So they have restricted the exchange of cryptocurrency with fiat cash and seems to be satisfied with the results. The local users have discovered the loophole and instead of fiat, they are using stablecoins such as USDT and BUSD.
thesmallgod
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November 16, 2020, 06:06:23 AM
 #39

The past FUD about china banning crypto becaming trending issue due to the large contribution of the Chinese toward the crypto market. People believe such event might lead to great crash in the price of bitcoin. However, it is becoming like the owe story is an hoax. I could remember a lot of miners were said to be in china and they also pay tax and they are not mining illegally. Which means crypto is part of the area in which china are also generating revenue. No matter how small the revenue generated from it is, it is becoming evident that China is not likely to ban crypto
Jating
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November 16, 2020, 06:09:35 AM
 #40

The Chinese government has probably realized that it is impossible to ban a decentralized asset such as Bitcoin. In order to ban Bitcoin, they need to shut down the internet. So they have restricted the exchange of cryptocurrency with fiat cash and seems to be satisfied with the results. The local users have discovered the loophole and instead of fiat, they are using stablecoins such as USDT and BUSD.

And they have introduce digital Yuan to boot.

I think what they wanted against bitcoin is the 'capital flight', because we all know that with bitcoin and crypto, you can simply hedge your wealth to it, put in your hardware wallet and exchange outside of the country.

That's why they really attack bitcoin and make a hard line stance, threatening to ban bitcoin mining, ban ICO's imposed fees on bitcoin exchanges in 2017. But even after that although it has created a big impact on the price back then. But right now a news coming from China doesn't have 'jolt' anymore.

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