China trying its best to get hated

[cryptomaniac_xxx]

The hatred only comes from crypto supporters who see China as a barrier to global adoption or creating bearish sentiment. So far don't know the exact percentage of the entire human population that actually supports crypto. If it was only a small part, then this hatred was nothing to them.
But who denies that China is a great business paradise? Chinese people will not really run in that country because their government offers better things (in their opinion), on the contrary they always attract the attention of non-Chinese. And in fact, China dominates the technology market share worldwide.

The Chinese Government, can be insensitive about the effect of their actions on people and countries outside China, chinese are good in business, going into partnership with private companies, other government, giving away of loans, but many of their partnership or business don't consider humans, eco system, I don't find it excitingly New if china take decisions on Crypto-currency, that can effects it in set-backing ways.

The loans though are double edge sword, specially loaning to a poor and developing countries in Africa and Asia, they will benefit from it in the long run.

As for the latest "crypto banning", not the first, we have heard and seen it before, so I wouldn't be surprised. But the thing is that this news has been in the first week of September if I'm not mistaken, so some entity has created a FUD again.

[Quidat]

I honestly think that people are starting to get really sick of China's behavior.


What's really amazing is that they don't understand that they are cutting themselves out from a super-growing market, letting all major investor taking all their money to other countries (like the mining exodus happened recently).


Should we really expect a bear market?

If you are just new into this market then better have some research on what are the actions been made by China back in the past but i would do it for you.
https://thechinaguys.com/china-crackdown-bitcoin-cryptocurrency/#:~:text=Following%20the%20cryptocurrency%20bull%20run,rampant%20fraud%20and%20pyramid%20schemes.
https://www.forbes.com/sites/rogerhuang/2020/12/31/why-china-is-so-afraid-of-cryptocurrencies/
https://www.cnbc.com/2021/07/06/china-cracks-down-on-crypto-related-services-in-ongoing-war-on-bitcoin.html
https://www.voanews.com/a/east-asia-pacific_voa-news-china_why-china-cracking-down-bitcoin/6207912.html

They do have their own perspective towards crypto so its their action to take.Lets just not mind them.

[watergold]

we can't equate the old system with the current one, for those in the past (ancestors) maybe it was true that they didn't need money for everything (because at that time there was still no money ) and indeed at that time the system was still using barter as well as commodities,
but this has actually been abandoned since our ancestors discovered primitive money around 1200 BC even though at that time primitive money was still in the form of shells or mollusks.
and I disagree a little when I say that, when the ancestors made a complex tool to exchange something and left the former system (barter and commodities) it was to make life easier because in barter and commodities there were so many shortcomings.
and you still want to use it and make it look like we don't need the money? I think you are too naive.

[dothebeats]

Well, for one, they aren't really gaining any haters. Just a few people annoyed of their antics and maybe that's it. The market has since moved on from China's tantrums, and they only release statements that mining or crypto is banned, but they are not actively enforcing it within the country. How many years has it been since their first bans? China is still one of the main hubs of mining, and a lot of Chinese are still using and owning bitcoin.

China's mind games affect no one anymore.

[Slow death]

I honestly think that people are starting to get really sick of China's behavior.

honestly, are there still people who believe in china? really? we are talking about a country where there is no democracy, a country where information about them is restricted, people outside of china know absolutely nothing about what happens inside china they only know what the chinese government makes available, how would a place like this accept bitcoin something decentralization

Should we really expect a bear market?

the price will recover

[adzino]

I honestly think that people are starting to get really sick of China's behavior.


What's really amazing is that they don't understand that they are cutting themselves out from a super-growing market, letting all major investor taking all their money to other countries (like the mining exodus happened recently).


Should we really expect a bear market?

I really don't think anyone is getting sick of their behavior. In fact people are now ignoring what China is doing or thinking about bitcoin. How many times are they going to ban bitcoin? They keep on doing the same thing again and again. If China hates bitcoin, then let them hate. It shouldn't bother us. But you should stop creating threads like this as it will only spread FUDs among readers.

[Gyfts]

...

The intent for China to ban bitcoin has essentially been there for ages, so there shouldn't be a sudden shift in the price. The lower price right now is because of China's housing market crash.

Now, this could change if their economy is in such disarray that they're forced to prop up their currency and they start taking direct action against crypto users. Their track record says their bluffing, but also within the context of Covid and a rough economy, who knows what actions they might take moving forward.

My prediction? They'll try very hard to limit crypto and ban it outright, their economy is in for a rough time.

[bittraffic]

China is indeed famous for its strong economy, they will do whatever they want, in my opinion stupid people, China must have certain intentions, 2017 China banned bitcoin, 2018 it banned again, now 2021 it's doing the same thing again, even their ban on crypto is getting worse, I think they want to manipulate the market, I'm sure the Chinese government is also playing crypto, the proof is that even though the government has banned crypto in their country, crypto is mushrooming there..

This has been on my mind for quite some time now, and you totally pinpoint my thoughts. Although this attention that is being accumulated due to such announcements and news releasement, I think makes the publicity that is maybe, somehow, connected to what China is planning to do towards its take with crypto.

The government has seized a huge amount of Bitcoin from miners and while they are banning it, Chinese Bitcoin investors are still consolidating BTC. We just have no proof of it but I also believe the government of China is playing the crypto market and they could suppress the price with their simple news. They even have a list of coin rankings of their own.

But what is infuriating is that its neighboring countries couldn't just bomb the country because the wealthy investors all over the world including the US investors are in China. Their factories and assembly lines are installed in China.

[uneng]

China is indeed famous for its strong economy, they will do whatever they want, in my opinion stupid people, China must have certain intentions, 2017 China banned bitcoin, 2018 it banned again, now 2021 it's doing the same thing again, even their ban on crypto is getting worse, I think they want to manipulate the market, I'm sure the Chinese government is also playing crypto, the proof is that even though the government has banned crypto in their country, crypto is mushrooming there..

This has been on my mind for quite some time now, and you totally pinpoint my thoughts. Although this attention that is being accumulated due to such announcements and news releasement, I think makes the publicity that is maybe, somehow, connected to what China is planning to do towards its take with crypto.

The government has seized a huge amount of Bitcoin from miners and while they are banning it, Chinese Bitcoin investors are still consolidating BTC. We just have no proof of it but I also believe the government of China is playing the crypto market and they could suppress the price with their simple news. They even have a list of coin rankings of their own.

Of course they are playing with bitcoin market and I don't doubt China holds some decent number of bitcoins unofficially, while lobbying with businessmen also involved with btc, allied of the regime.

For a heavily hostile country towards crypto currency, it just doesn't make sense they are still so influent in this market. If these bans were for real, since 2017 their influence would have been decreasing along the years and powerful investors would have moved themselves to another countries around the world and especially in Asia. There are many options around to escape chinese tyrany, but for some reason investors haven't felt they needed doing this, what reinforces the theory China is constantly simulating a stance regards bitcoin that isn't for real.

But what is infuriating is that its neighboring countries couldn't just bomb the country because the wealthy investors all over the world including the US investors are in China. Their factories and assembly lines are installed in China.

Are you saying figuratively or literally?

[Kong Hey Pakboy]

To be fair, if you put your shoes in their perspective, that's not your goal in doing all this stuff, the stuff that they did are justified in their own selfish interests. Preventing terrorism by suppressing and putting the Muslim minority in concentration camps, harvesting organs of members of Falun Gong. It's easy to say we hate them until we become them.

[junmisakiro]

The Chinese government basically wants to dominate the world in terms of economy and technological innovation, so seeing what this country is doing now is just to kill the growth and success of bitcoin, because they can't compete with bitcoin technology so they will always do FUD when the bitcoin price starts to rise so that people stay away from bitcoin.

[Dr.Osh]

Well, this proves the strength of China in the investment world. even with the same news over and over again, the effect is still the same, sometimes even hitting the bitcoin price much lower. I don't know what the Chinese population is and the assets they have for crypto, but I don't think that the same news continues to have the same effect. I don't know what China is up to, but they are great at pushing this technology backwards.

[Nunoluck]

I personally think that China will not give big impact to bitcoin market anymore. In the past, China was dominated bitcoin market but now everything is change. Bitcoin adoption is growing, more countries accept bitcoin, more cryptocurrency related business emmerged to help the growth of cryptocurrency environment include infrastructures and system. Our community is getting bigger now. In my point of view, china regulations will effect cryptocurrency market but not for long time. I still expect bullish market trend in October or atleast November.

[Bazley]

I didn't see the great influence of China's cryptocurrency friends, but we reacted so much. There are only a few countries that openly support bitcoin in the world, and most countries oppose it. This is not a new thing. Bitcoin will never be affected by this. The prohibition of any country can not stop the development process of bitcoin.

[llooafer]

The news in China has an impact on the cryptocurrency market. Will Chinese cryptocurrency enthusiasts give up Bitcoin? Encryption enthusiasts may continue to like cryptocurrencies in other places. But there will still be people who can't leave their hometown and give up Bitcoin. This makes them resent China.

[KaliLinux]

I honestly think that people are starting to get really sick of China's behavior.


What's really amazing is that they don't understand that they are cutting themselves out from a super-growing market, letting all major investor taking all their money to other countries (like the mining exodus happened recently).


Should we really expect a bear market?

Was this even new NEWS out of China? I believe that people that want to manipulate the market will continue to put out all this FUD and it is just so unfortunate that with all China has been doing against Bitcoin, it makes it easier to always put China out there because it influences the market quicker. but at the end of the day, Investors should only know how to take advantage of the market conditions whenever the opportunity arises.

[iyamoxjhian]

Maybe their government is threathened that People who were working with bitcoin can be more powerful and influential and might overcome them. We know that not all of their citizens agrees with their government and its propagandas. And most of those rebellious people or against their government wills are smarter than them. It might be a threat for them that they will be forced out by these people who are working with bitcoin. They believe that once you are wealthy and rich then you are powerful and not all officials or in higher positions in their government is against with bitcoin. Infact, who knows, maybe their one of the popular people whose working with bitcoin too.

[worle1bm]

This has been like what? The 74278323th time China has dropped a hammer on bitcoin/crypto already? And funnily enough, the FUD is still working lol.

They have developed a hobby of announcing such things after some intervals

The current year 2030: Media and articles be like China has ban bitcoin trading in the country

Fed up with their boring bans all the time.

[MIldic1c]

China has always been less optimistic about cryptocurrencies, opposed to cryptocurrencies, and explicitly proposed a series of measures such as prohibiting domestic mining. It is understandable that they have their own currency. For the benefit of their own country, we cannot interfere in the decision-making of their government. We just make our own choices.

[Dread Pirate Roberts]

What's really amazing is that they don't understand that they are cutting themselves out from a super-growing market, letting all major investor taking all their money to other countries (like the mining exodus happened recently).

Maybe people's perception of bitcoin is more dominated by China is still exist today. even though the news of the rejection of crypto's existence in China has always been discussed by the crypto community, and it is possible with this to create a new view that crypto does not depend on an economy or the regulations of a particular country. if bitcoin can survive and get through news like this without making too much of an impact I think that's a good thing.