Quote from: Rexler on February 06, 2018, 06:23:26 AM

Quote from: bisdsad on February 06, 2018, 03:58:54 AM

Quote from: bayu7adi on February 06, 2018, 01:40:33 AM

why is China so influential on BTC market?
every statement always raises a commotion in the world of crypto

China, as the largest miner, government news will affect miners' decisions. When the country begins to ban it, they will start to be nervous and will sell their coins, thus affecting the market.

It's not even about miners selling mined coins/tokens. People are naturally scared and a bad news about cryptocurrency shakes them so much and they panic leading to a huge sell off. Don't forget that majority of the people in the space are noobs who were only told about the potential profits you can make. They don't know It might goes sideways too.

well, I agree here, quite a lot of newbies came into BTC. They bought it on very high price, like 15-17k usd, some even 19K I guess.
now, they short like 3x times, some even more. And those news from China or Korea or US that governments wants to ban BTC do not give positives, all this stuff just make things worse and the price tends to fall more creates more and more panic on the market.
So of course news that miners can mine some coins and sell them even through great filrewall is a good news, so I think DeepOnion was one of the first coin which integrated new versions of tor, OBFS4 and MEEK, I guess other privacy coins will update the wallets as well and that would be really good news for miners.