Quote from: ButtCrack on September 09, 2017, 03:41:00 PM

Quote from: Manuj on September 09, 2017, 11:41:11 AM

Quote from: RawDog on September 08, 2017, 03:05:15 PM

Why don't we just ban China?

LOL.

But, yes, why can't we just ban them and sail smooth in the crypto world without these people. After all, they seem to be manipulating the market with their decisions. There would not have any drop in price without them. But it seems the market they are offering is really big.

If they want to create a panic market, why do we need to go along with them? Cryptocurrency is decentralization, so we do not let by small community like China control us, we can counterattack them and take advantage cheap price for buy back, then profits is ours.

China is not a small community as you describe, they are the number 1 or 2 in terms of trading volume in a 24 hours basis. So the problem is that their announcement has really carry a big impact on the ecosystem. Remember that they have total monopoly of mining farms and there are a lot of big whalers coming from China as well. Admitted or not, any news coming from them will have a big influence on us. And once from the other side of the globe sees that the price is going down, they easily panic and sell the push button. Again, the timing is really off so I'm speculating that someone is trying to manipulate the price in their favor. But yes, we should buy in this dip to offset those who are dumping today.