China is just possibly the largest bubble the world has ever seen. From their MASSIVE housing bubble leaving many cities simply being ghost towns, to the fact they have just horrible loans, something far worse then 2007 because it's the actual goverment that's fucked. Essentially one of these issues will choke china and send, not only china, but, the whole world into a global recession.
Why does this matter to you? Well because the entire cryptocoin market is owned by chinese. Just about 99% of all bitcoin is owned by chinese individuals. When china goes to shit, guess who's gonna cash out so they don't starve to death? you see the issue here?
Essentially if china goes, so does all of crypto. If you are looking to get into crypto or still trading, I'm not telling you to sell. All I'm saying is you must watch china as much as you do crypto itself.
China is fine, have you even been there or you just watched a sixty minutes episode from five years ago?
Henry Sanders
you've got it backwards, when china goes to shit guess what they'll all be fleeing into? crypto. the few that are already into crypto might cash some out to survive, but the literal hundreds of millions others are going to be rushing to get in. crypto is essentially making the bet that you believe governments are going to collapse.
Jose Kelly
Reliable source on chinese market shares please
James Howard
Yeah BEING there completely invalidates satistics. You know a bubble doesn't really show up in everyday life. A bubble may seem like a golden age to anyone living under it untill it simply pops. Remember when everyone was buying homes in 2005-2006?
I agree with you. If China goes, the US is beyond fucked once they spiral out of control. The world is also filled to the brim with personal debt and a huge housing bubble is global. Either way, we’re all fucked and it would be a recession like the world has never seen. Absolutely no idea why I am so excited by the idea of the world burning this way. I’m 70% in Chinese crypto so hoping for one big pump to sell some positions.
Well unless there's a really stable crypto, then shit like bitcoin will be sold because it's not really liquid. You know if you wanna spend money, you have to have it liquidated it into something that everyone in your area accepts. Venezuela Attempted to make an Oil backed Crypto but nobody really got it. Essentially people will be trying their best to get cash FAST!
Hunter Adams
good point whole world economy is standing right in front of cliff's edge and still holds on, it's uncertain what will trigger the situation, but (when) it will, there will be not that much survivors
>crypto is essentially making the bet that you believe governments are going to collapse. nice, I will steal this
however due to lack of information from China rest of the world could only guess what's going on. they understand our language so they can get info from first source, but we don't understand their innerworkings so probably when it will turn over it will be "surprise" for many of us
Jaxon Diaz
DESU Crypto's that do well in this crash will be very random. something you'd want out of a Post-crash currency is stability. So any crypto like Bitcoin or any of the other coins you trade are out the window. Essentially you can't bet agianst an economy with crypto because the crypto that rises will be random and probably new.
Ether/MakerDAO/DAI It's what brought me safely through the bear market of 2018 without needing to rely on Tether and the Chinese will possibly realize this as well since there is no real alternative right now.
Michael Roberts
Haven't seen so much cope and salt from Pinko homos in a while.
The US is more likely to collapse than China now. It didn't use to be that way pre-2008 but every recent event alludes to the fact that the USA have been living on borrowed time.
Blake Cox
Yeah the chinese OWN crypto. I thought this was common knowledge and I was simply preaching to the choir. I not saying you're stupid but I'm shcoked by how unaware the board seems about it.
>implying the bear is over
We are quite a bit away from bear season being over. big dogs are not confident and if they are not confident, no way we're escaping a bear market anytime soon.
Noah Sanders
Let me spell it out for you albino monkeys: Real economy >>>>>>>>>> your fakeass service economy every. single. time.
If you look how desperate various countries and governments try to get in before it's not too late I think chances are crypto will survive however we don't know what (((they))) will do in that case, hedge in crypto making 40 trillion golden bullrun bubble, then pop it and get back to stocks, or will it be end of civilization / crypto world
I'm very indifferent at the moment due to (possible) release of Satoshi's book and picture which was drawn by Luka Magnotta (aka time traveler 2025). For some reason I have vibe that 2025 also was written by Satoshi and that's kind of scenario we're driving into. If yes, kinda makes sense looking at how much immigrants invaded west countries in last years I'm not tinfoil, just everything happening right now is totally irrational and my mind tries to find at least some theory which will fit in order to avoid that "missing" feel in a big picture
Zachary Morales
I was aware that the chinese mining farms are huge but not 99% huge. Thought koreans and japs have at least a bit of the market share
Justin Johnson
China won't collapse because of recession, they will suck it up and the government will remove those who don't. However I very much doubt they would cash out, buying CNY is kind of retarded when you know your government is on the brink to massively print money, chances are they will go in gold, they would pick crypto only if it's easy enough to use and it scaled.
Jose Price
The Koreans are the biggest buyers in crypto. The Japanese not so much...
Jordan Martinez
>buying CNY is kind of retarded when you know your government is on the brink to massively print money By that reasoning, every forex currency is untouchable from the USD to the EURO/YEN
Logan Campbell
So mr. chang, how much did Xi pay ya to shill that everything is alright? The chinese always release flase info to tell the markets everything is alright but everyone knows they are not. Why do you think the chinese have put billions of their wealth over seas? They know something is about to happen and they want to put their wealth oversea before shit goes down.
i don't know about this user, chinks never trusted it and fucking hate chink money, they have already been desperately cashing out and the situation is so bad they can literally be executed for doing it. maybe they are cashing out to burger money but there is no way in hell they are going to bring it back into china especially at that point.
James Mitchell
>Another Gweilo who thinks he knows better than the natives who lived their entire lives in their own country because of a few headlines I actually know some of these rich 1st gen & 富二代. And they have in fact been moving billions away from the US for the past year or so. When shit inevitably hits the fan, they are all ready to up and leave at a moment's notice.
Dylan Perry
>Why do you think the chinese have put billions of their wealth over seas? That's to balance the trade surplus. As evryone knows China has a major trade surplus with the USA and most other countries. To stop their currency hyperinflating from all this money, China is forced to invest heavily in other countries.
This is part of the reason Trump is a retard because he thinks trade deficits are a bad thing (they're neither good nor bad) and that he will solve the US's deficit by cutting taxes (that will exacerbate the problem)
Jose Young
Well on one hand I understand that but on the other-hand I don't think china has a very integrated use of crypto. Most people use crypto as an investment rather then a currency. Essentially if you want to get food or buy anything practical really, you would use cash. EVEN if you don't believe in the CNY, everyone uses it. Do you want to be the idiot walking around with a USB yelling "I NEED SOME FOOD, I HAVE 20 ETH"
You know I can see people starting to use crypto if the CNY falls too but it's not going to be something that exist now. It'll be formed as the crash occurs. People want stability in crisis and the last thing they need is a currency that could feed you one day or make it so you're broke the next
>implying china would tell it's citizens shit about the country other then good news
>Actually talks and interact with the 1st gen/fuerdai >Retarded Gweilo insists you are wrong despite already being BTFO'd I'm done. You faggots have no reading comprehension at all. All regurgitation and zero 'critical thinking'
this isn't the government, this is private money and it isn't billions it is fucking trillions, chink government has had to burn reserves to prop up the currency up
Nathaniel Jackson
It's shocking someone as stupid as you even remembers how to breathe.
Lincoln King
What the actual fuck? This is big news for me. I thought chinks were banned from crypto.
Juan Mitchell
Americans here are pretty deluded, they are more or less circlejerking in an echo chamber. Doesn't help that a lot are from Jow Forums and therefore clinically retarded.
Jayden Cox
Well they still own BTC but chinese are now investing heavily in shit like EOC and ETH.
If anyone knows mandarin and can read this, it would be greatly appreciated. I kinda get a gist of what it means but it would help.
So china did something weird, they proceeded to "ban" crypto but at the same time start a ranking system of cryptos. It's quite batshit crazy and it seems the chinese are not actually going to enforce shit.
my uncle is a globalist economics guy. worked on the bush administration. head of economics at a prestigous college in new york, written a bunch of books. he told me back in2014 or 13 he had been shorting china for years because he is 100% confident it will collapse but china just keeps going and he keeps losing money. he said economists make shitty traders but swears china will be the bigest bubble soon
Alexander White
how does a person even short china? did he short bonds or chinese stocks or what?
Ayden Robinson
Well your uncle is kinda retarded for shorting for a bubble which is like a regular bubble we've seen in the US. China has much finer control over their economy so they could keep a bubble afoat untill shit literally hits the fan. your uncle failed to see that untill china runs out of funds, the economy and the bubble will be maintained. Granted you can't predict when the crash will actually happen because the chinese figures are false. China releases false info to keep the market comfy and feel secure.
Your uncle will make big bucks but it'll take a few years. Might be in the next 3 years but the real wall will be when most of chinas population is too old to work in 20 years.
Just like venzuela who used fucking pepecash out of all the cryptos they could have chosen. They chose that shit.
Jonathan Collins
Yeah and even then nobody REALLY uses it. It's just a small group of people who have the knowhow to use it.
Kayden Scott
im not 100% sure what cause hes on that level where he understands derivatives of derivatives and could be trading on things ive never even heard of but likely things like yuan rmb value, major companues with exposure etc
Austin Wood
yeah he i asked him for stock tips and he said economists are shitty traders cause markets tend to be irrational despite of fundamentals and thats when he talked about china
Andrew Edwards
would you mind asking him pls? I'm thinking of doing the same but on a different point in time.
Nathan Morgan
Well being a good trader is really all about research. Being a good economist means you need to know how people think and feel.
Like I kinda predicted this bear season and told a friend of mine who invested in some stupid Reddit coin. I told him right after bitconnect shutdown that the big dogs are worried, either they'll hold or sell, anything would set them off and start selling. Now here we are in the beginning stages of bear season.
Ayden Wright
get him to read up on soros' paper about reflexivity sentiment matters more than fundamentals if you've watched "the big short" you'll have noticed that the first guy who called it lost money for 2-3 years before being right
Caleb Edwards
>Chinese have one of the highest IQs in the world. No influx of low IQ immigrants either. Better nutrition is putting the Flynn effect on steroids. >Around 75% of Chinese are still poor or lower middle class. Middle class is growing at an enormous rate. The growth potential is huge. >”China doesn’t innovate, only copies, etc” is a meme. The same thing has been said of Japan in the post war period. China’s industry is starting to be more and more innovative. >OBOR is the biggest infrastructure project in human history. It will bring enormous wealth and open up large untapped markets. >Geopolitically we are moving to a multipolar world. The Petro Dollar will lose its dominance. China will have some challenges in the near future (Trumps trade war, housing bubble, Taiwan shenanigans, etc) but long term I’m bullish af.
My brainlet math works that out as around $1800 debt per customer they have in China. That doesn't include the millions of corporate clients whose debt would skew this massively.
Seems fine to me
Jordan Morales
I'm in the same boat, the empty cities and mismanagement are only the result of the government trying to plan everything but as they've begun to liberalize certain markets it's become pretty clear that China is a huge economic threat
Christian Collins
that was before they banned crypto for the thousandth time last year, chinese market share dumped severely since last fall. Now it's mostly gooks, us and europe.
Dominic Hall
chinese market share never dumped, their money was never coming back, they either locked the price in hardware wallets or are still trading on foreign exchanges. the unfreezing of chink exchanges last year demonstrates the truth
Gavin Williams
China's bubble still has 4-6 years in it - the West will pop first.
Brody Watson
Lmao, you actually believe this IQ bullshit? The general Chinese population is incredibly stupid and backwards and resistant to any change. Yes, they have very intelligent (and figuratively robotic) students who do very well on exams to help skew these results, but the average Chinese citizen is not what you think they are.
t. international school teacher in China
Asher James
Also you have no knowledge of what you talk about...explain the Taiwan 'threat' for instance?
"Oh China doesn't actually copy, they're more and more innovative, I swear"
kek, look at the houses, Made in China written all over those straw shacks
Gabriel Young
They burn dogs alive, fucking apes.
Gabriel Peterson
Chinese corporations have won the most patents for ai the past few years. even compared with the next five nations combined. americucks btfo.
William Collins
your own bet is the assumption people make rational decisions. people are by and large dumb animals who follow the crowd, and most people in crypto are here because they expect to make "real" fiat gains out of it. any economic crash will come with a significant crypto crash as well. but crypto is more likely to recover in the long run
Isaiah Gray
I fully believe the IQ part. Their culture and government fuckery may hold them back, but I see no reason to believe otherwise about IQ.
Lincoln Brooks
So the only thing i took away from this thread is to buy more bch
Ryan Barnes
Your truly a complete idiot. I mean, you really tried to think this one through. But, you are just painfully wrong. Kys.
Camden Morris
So we are blessed we are in crypto right now right? BTC bubble already popped in January, so we can only go up from here. Fucking pajeet
I'm willing to believe that the population IQ data China reports is about as legitimate as all those record-breaking harvests Mao presided over. America is tied with Japan for IQ if you leave niggers out of the data.
Jaxon Wood
you had better pray the chinks blow themselves to hell, if not they will consume their neighbors, and then the rest of the world
they are already doing it to australia, canada, new zealand and northwest usa
Matthew Butler
The doomsday scenario you libtards describe would make "cashing out" useless
No I don't agree, if the whole worlds market goes a lot of money will pour into crypto, not all of it, but enough. So Wealthy Chinaman will likely not sell and as Chinese see its going up they FOMO in causing more price rampages and spark a domino effect See how it can work the other way around aswell?
Jordan Price
I also fund it hard to believe. Is it known why the Yen is so strong in btc transactions? I'm surprised that usd doesnt have a higher market share
Cameron Gonzalez
I know some japanese, so I was going to try and translate some of the hanzi for you, but a lot of them are simplified chinese characters and most of the grammar doesn't translate at all.
I understood "中文名" - "Chinese name" "英文名" - "English Name" though, but that's probably the most obvious.
The rest of this is speculation >far right columns, _合排名, maybe popularity ranking
>second from right, *指数 - some about indices
>third from right, _新力 - new power? >fourth, 应用性 - "应用性" translates to "'should/ought/might-ability", so maybe something like applicability? Liquidity >基础技术 - "base technology", blockchain maybe?
Brandon Adams
USD would have a higher percentage if it wasn't for USDT. Is that simple.
Evan Anderson
>how can the fucking CHINKS be doing better than europe and america white people are the MASTER RACE
The Chinese like to think of themselves as smart for lying, their culture is actually based on lying as much as possible and not getting caught out. Corruption is also rife there, like any 3rd world country. Very soon, their lies will catch up with them, their economy is totally built on shit loans and overpriced property that no one there can afford. They are fucked long term.
I doubt they will cash out to RMB when everything falls though. OP has got it backwards, they will look to crypto as a hedge, they will run TO crypto, not away from it. The RMB is gonna get kill.
Chase Evans
This
Jackson Bell
The people who bought houses in 2005-2006 are really bad off right now, right?
Luis Ramirez
This. Chinese numbers are fake (but don't worry, funds are safe).
You know. Their business plan is built around deceit and corruption
Bentley Ortiz
well at least it's not a nigger and their offspring will actually be productive members of society
Parker Ward
nice id
Isaiah Jackson
what are the based non-bagholder Nations?
asking for a friend
Easton Brown
I give sex direct like a true American. My id is the name of my startup
Nicholas Rogers
CHAD
Zachary Anderson
>bitcoin this is where I stopped reading.
Austin Brooks
At this point, maybe Iceland? Pretty much everybody's fucked m8.
Wyatt Murphy
op you fucking pos pajeet. chinks cannot buy crypto with cny. ITS BANNED you no brained single cell parasite.
and if shit really goes down there they will rush to buy btc otc and we will hit 50k.
why do you think they was so crazy after btc anyways? because they know their chink shit currency is manipulated poverty junk
Cameron Scott
fucking retard this was before they banned trading last year you fudding pajeet brainlet.
Ethan Adams
this. there's a reason they study for hours on end and it's not because they want to succeed
Kevin Adams
>China starts to collapse >Their population is much smarter than Amerimutts, who just started occupy movements >99% of the population all in's to crypto and carry on as usual
Benjamin Hill
>implying it's difficult to get around capital controls in China Nice try Wang. The game is up.
Jack Thompson
>Not realizing this is only positive for bitcoin, The yuan will need to be devalued.
China needs an industrial bubble to grow into. Half the state of over a BILLION people have yet to urbanize. There are more farm dwelling, impovrished chinese living on cents a day than all citizens of western Europe and the US.
Ghost towns to eventually be populated are inevitable
Noah Turner
I cannot wait of sht so I can crush your chink skull under my jackboot
Joshua King
If China goes down, bitcoin will moon
Dylan Davis
>banned trading
they're still holding it dipshit. If they needed to sell it then they would.
Eli Gomez
thanks user, thats the newest crypto raiting from the chinese goverment.
Parker Evans
Why the fuck would they sell their BTC for a fiat going to shit? Are you retarded? BtC and crypto is a replacement
