I can't be the only one sick to the back teeth of the Chinese FUD.
Seems like it happens periodically, sending all my profitable positions into the red. Well it's happening again today. Bitcoin has dropped to $3,500, and while the Ark coin I have is surging, other promising coins are taking a hammering.
It comes with the news that China is "definitely" banning cryptos. I doubt it, I just think it's more FUD, but I hope it's true. I would be happy to go back to $1000 BTC just to be rid of them as they are making doing anything in the cryptosphere difficult or maybe even impossible.
All these promising coins and companies are placed into turmoil every time some idiot from the PBoC opens his big gob.
They are holding us back. We should worry less about China banning us and focus on how cryptocurrencies can go forward without the Chinese.
For people who might not have heard, here's the latest cause of a BTC crash...
My thoughts exactly!
It's really getting tiresome now isn't it?
They now only account for 20% of the market yet send it into turmoil regularly.
I personally hate the fucking commies, and have no clue how they are able to manipulate so much of the cryptocurrency space either, and people really have to stop thinking that because they have such a large population... that somehow all of them are going to be interested in cryptocurrencies?
Mining, they account for 80% of the hash power, but losing that won't be a big deal because of the difficulty scale, it will just make it easier for the rest of the world to mine.
Bye bye China. Enjoy squashing this Bitcoin thing on all Chinese street corners while the grown up world moves on in a further digitalising environment.
The Chinese have a very strange attitude to business. They will always choose short-term financial gain over building something lasting. So if they don't ban cryptocurrencies, they will keep on damaging them.
Interesting video on the subject. It's ingrained in the culture.
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