Re: Confirmed Bad News Sources Thread - No FUD, Just Facts!!!1
Please use this thread to only post confirmed news from confirmed sources to help everyone understand what is obvious - bitcoin is in a downtrend to oblivion.
My latest find comes, of course, from official sources in China and details how the Chinese government is planning a massive 99% attack on the blockchain. I'll put the main points below, but anyone can check the facts from the source:
1. Chinese offials delcare bitcoin a global financial virus
2. Officials from other nations are in agreement withchina China, including the US
3. The Chinese government has millions of petahashes ready to deploy on the blockchain to destroy the protocol
4. In addition to attacking the blockchian, China will sell all their mined bitcoins on MtGox
It's obvious bitcoin has gone as far as it can go, but any other thoughts about this devastating news?
My latest find comes, of course, from official sources in China and details how the Chinese government is planning a massive 99% attack on the blockchain. I'll put the main points below, but anyone can check the facts from the source:
1. Chinese offials delcare bitcoin a global financial virus
2. Officials from other nations are in agreement with
3. The Chinese government has millions of petahashes ready to deploy on the blockchain to destroy the protocol
4. In addition to attacking the blockchian, China will sell all their mined bitcoins on MtGox
It's obvious bitcoin has gone as far as it can go, but any other thoughts about this devastating news?
Well, I think that most of this is FUD
Only point that I agree on was 1. The Chinese government has made a clear anti-bitcoin stance by saying that they don't want to see any legal business activity involving bitcoins.
It made me wonder on why did they change their stance when they were pro-bitcoin at November?
In my theory, the Chinese govt. thought at first that BTC could be a threat to dollar as an global currency. They thought that BTC could actually be a monetary system what is free from leeches of the western financial world. So they thought that promoting BTC is actually good for China and therefor the piece covering/promoting bitcoin was shown on an chinese national news program that is known for government propaganda. And remember that the news piece was the actual start of this new rise that started in autumn.
Now, why did they suddenly change their stance on the start of December? I think that the reason was that they gave further studies into the nature of bitcoin and it's market system. They probably discovered the "public secret" that most of the BTC are actually owned by the same people who profit most on the success of the dollar. They discovered that most of the bitcoin is owned and the market system is run by groups from wall street. Then they saw that with promoting BTC in China, they are actually helping wall street players to rake up money from the Chinese people.