Ninjastic
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Board Economics
Re: China and price
by
bajing
on 20/02/2017, 17:40:10 UTC
Quote from: ged00u on February 20, 2017, 08:52:29 AM
Quote from: carlerha on February 20, 2017, 08:37:43 AM
Quote from: Gameroid on February 19, 2017, 09:05:33 PM
Quote from: cryp24x on February 15, 2017, 08:03:51 PM
Quote from: debtstack on February 13, 2017, 09:46:44 PM
Now I know China has been accused of keeping the price of their fiat down, so this leads me to a question.

Why would china want to keep the price of btc at or below 1000? And I'm not asking for answers around curbing the use of it, because I don't believe they want that. I'm asking for genuine thoughts on how it would benefit china to keep the price low. What long term strategy would they have? Because we all know china doesn't just do things because they want to. They've probably had meeting after meeting on how best to optimize bitcoin for their benefit.

First how sure are we that China wants to keep the price of BTC at or below $1,000?  As I think of it China don't care about BTC, as the way you wanted to hear it, they only want to make sure that these exchanges that had been loose for some years to follow what the rule stated with regards to AML and  KYC stuff.  It is that these market manipulator take advantage of the news and twist the idea to suit what they wanted to the price of BTC.
yes these are just assumptions and there is no reality about this. in fact the it in is now become very difficult to manipulate the price of bitcoin. because the number of bitcoin users are now increasing. therefore it is now become difficult for a single person or a group of people to manipulate the price of bitcoin.
yes there is no doubt about this that the number of bitcoin users are more in china as compare to other countries bu ti think it does not mean that they are controlling bitcoin at all. bitcoin is a universal currency and it is not so easy to manipulate or control bitcoin.
No, it is not about the number of China people. It is about how much money and efforts they have spent in Bitcoin. AS you can see, there are likely a thousand investors and they have put a million dollars in this field. Therefore, it is obvious that the Chinese are controlling the Bitcoin prices they day by day
Not for long china can controlling bitcoin price, im sure now they on trouble due their efforts to make the price under $ 1000 always can not last long and now all trader are smart they not easy get in on the trap.