Apparently today's bitcoin dip is due to more shenanigans in China

StrangeWizard
StrangeWizard

Apparently today's bitcoin dip is due to more shenanigans in China.

First there was some fake news about stolen bitcoin and bitfinex being suspended:
http://www.nbd.com.cn/articles/2017-01-11/1069119.html

Then there was more PBOC meddling with the announcement of "inspections" regarding bitcoin at certain businesses, including BTCChina:
http://shanghai.pbc.gov.cn/fzhshanghai/113571/3233069/index.html

All of this is merely hot air, since the Chinese know it would make no sense to outright ban bitcoin; though they may even try that if they're desperate enough.

In the short term, these things are going to cause bitcoin to dip because it just makes people skittish; but they are obvious signs of desperate strong-arm measures that are sure to further undermine the credibility of the Yuan.

All urls found in this thread:
http://www.nbd.com.cn/articles/2017-01-11/1069119.html
http://shanghai.pbc.gov.cn/fzhshanghai/113571/3233069/index.html
Emberfire
Emberfire

To add: the Turkish Lira and Mexican Peso are at historic lows.

Shouldn't be too long until more people than the Chinese and Venezuelans wise up.

LuckyDusty
LuckyDusty

memecoiners trying to explain themselves

BinaryMan
BinaryMan

b..but muh fake news caused it!
coinfags using mental gymnastics to try and escape the fact their meme currency is finished

Guess what retards. Actual currencies aren't vulnerable to "fake news" and governments fucking about. Shitcoin is on its deathbed.

CodeBuns
CodeBuns

Bags getting heavy uh ya stupid fucking coiner

Spazyfool
Spazyfool

@BinaryMan
Shitcoin is on its deathbed.

No way, there's way too many whales out there who haven't pumped and dumped yet. This is just another cycle to defraud coiners. Plenty more to come.

Raving_Cute
Raving_Cute

Actually buying bitcoins when 2017 is the year of emerging market currency valuation
Just avoid bitcoins altogether this year. China is being very aggressive in upgrading their economy. Does a bunch of fat manchildren think they can win against the biggest/second biggest economy in the world?

Garbage Can Lid
Garbage Can Lid

@BinaryMan
look at Turkey and Venezuela you tard

Sir_Gallonhead
Sir_Gallonhead

@Garbage Can Lid
Implying tiny irrelevant economies will offset China in devaluating bitcoins

Soft_member
Soft_member

BUY THE DIP NOCOINERS

DO IT NOW BEFORE PLUTO MISSION

OR LEARN TO

COPE COPE COPE

farquit
farquit

@BinaryMan
Actual currencies aren't vulnerable to "fake news" and governments fucking about.
This post is pure irony.

viagrandad
viagrandad

@Soft_member
All of this is merely hot air, since the Chinese know it would make no sense to outright ban bitcoin; though they may even try that if they're desperate enough.
loool right.

SomethingNew
SomethingNew

@viagrandad
Did you have a point?

cum2soon
cum2soon

What's the dividend yield on Bitcoin?
What do you mean there's no actual reward for buying this crap?

Inmate
Inmate

@cum2soon
Lol.
What's the dividend yield on US dollars? Or gold?

idontknow
idontknow

@Inmate
It's not based on memes, that's the difference.
buying anything else than stocks in 2017

kizzmybutt
kizzmybutt

@idontknow
fiat money / shiny metal
not memes

Also, thank you for conceding that your dividend argument is butt retarded.

Methnerd
Methnerd

@kizzmybutt
Listen to me bro: Memecoin a shit. A shit.

PackManBrainlure
PackManBrainlure

@Methnerd
Next time just post that. Save yourself the embarrassment.

Firespawn
Firespawn

@PackManBrainlure
Where excactly did you embarass me you fucknut? I don't invest in any kind of memes. Your shit will crash and that's why you're angry lmao

5mileys
5mileys

@Firespawn
I don't invest in any kind of memes.
So then why are you so upset?

Flameblow
Flameblow

@Firespawn
We've all heard this before, shut the fuck up

Dreamworx
Dreamworx

@Flameblow
Are you nervous, user?
Kekkkk

farquit
farquit

@LuckyDusty
@BinaryMan
This. Happens every time lol.

In reality, the wealthy are scamming the poor (/biz/) out of money with pump n dumps. It has absolutely nothing to do with muh china.

Evilember
Evilember

@viagrandad
90 percent of Bitcoin volume is Chinese. Guess what that is going to mean?

RavySnake
RavySnake

In reality, this is just Buttcoin.

When you buy Bitcoin, you are only buying 'hope' - a hope that the price will rise, and you can sell to another sucker that hopes they can do the same at the given price.

The problem is - there is no value, no dividend, no interest, absolutely no reason to hold Bitcoin at all.

The sad thing is, selling actually indicates you have lost hope in it, and that it can't rise higher - if another idiot is stupid enough to buy in, then that's their loss.

Bitcoin is a zero-sum game, where 99% of people will lose in the end.

DeathDog
DeathDog

@RavySnake
be the 1%

FastChef
FastChef

@RavySnake
99% of people will lose
kek

New_Cliche
New_Cliche

@Evilember
90 percent of Bitcoin volume is Chinese. Guess what that is going to mean?
That means China determines the future of Bitcoins. China currency appreciation = dead Bitcoins.

Sir_Gallonhead
Sir_Gallonhead

@New_Cliche
Someone gets it

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