/biz/ - Business & Finance

>>15116789
I'd say it's more bullish for TRV, considering the Asia crypto bubble that will happen in 2020.

>>15116897
You smell like shit and curry

>>15116897

Anytime there is a move out of the Chinese Yuan, it's into other currencies, assets or crypto.

That's why you had such a big move up today.

Congrats, Bitcoin is seen a safe haven asset.

>>15116789
If you were a chinese citzen on of the 1200b of them it means that now you can buy less usd.

As a result their wages are lower as a result you have 1200b people with lower wages now and as a result it's exports are cheaper and they have less money to buy imports.

This is massive , chinese exports are now cheaper and they will import less things.

As a result us will now export less to china and import more from there.

But drumpf wants to put more tarrifs and china can do this.
So only way that drumpf can bypass this is by devaluating the usd and pumping cryptos in the process.

Why is a failing local currency, in a country known for capital flight, bullish for a pseudonymous store of wealth that can be transported across borders with a mere password?
Gee good question anon, it's really got me stumped too.

>>15116913
>Congrats, Bitcoin is seen a safe haven asset.

This anon get's it Bitcoin last two years has been reacting to news like interest rates or trade wars.
And that is ignoring the halving pump , as a result even boomers are starting to see it as a hedge.
Tough they don't buy directly there are funds like grayscale bitcoin fund that let's them buy through proxy.

Bitcoin has become a heaven against inflation , trade wars , devaluation and capital controls, and as the hashrate increases soon it will become a global bank as negative interest rates are pushed into everyone to pump the scam economy we are in worldwide.

>>15116920

This. The Chink diaspora wanted to get into a liquid asset to avoid their holdings being devalued in China.

Trade war's heating up yo.

>>15116931
>And that is ignoring the halving pump
Also this. I know what the halving is but I don't get why the price will surely increase... What if it doesn't and miners simply get half the cake?

>>15116789
Because the Chinamen are going to be shoveling their money into portable wealth that they can get out of China.

CNY has already dropped against the USD (and this is how China thinks they are going to escape the sanctions trap) -- used to be 6 CNY per USD, now it's 7 CNY per USD. This devaluation of their currency will continue.

It's exactly the same reason that the Yellow Peril were buying up rotting falling-down houses in Vancouver and Miami and Christchurch and Sydney and everywhere else on the planet that would protect them against their own government. They needed to get their shekels out of China before devaluation and before the banking crisis wipes out everyone there.

Seriously, you guys have NO idea what a complete train wreck China's banks are. Companies have been taking out loans against, say, a pile of copper ore at a shipping depot -- note plural "loans", the companies take out eight or nine loans for the full value of the pile per each loan, then the officers of the companies either "invest" the money into some financial scam or they simply disappear. All those loans go up in smoke, seven or eight of the banks are left with nothing, and the last bank is left with a lawsuit against it by all of the others.

End result is going to make the 2007-9 Amerifat mortgage crisis look like happy fun times. This is going to wipe out nearly everyone in China who didn't buy a foreign house, shovel shekels into Bitcoin, or otherwise maneuver their way out ahead of the wreck. China is going to start multiple wars to distract its population from how utterly fucked they are.

>>15117441
Most miners sell off at least some of their crypto in order to pay for electricity and more new mining computers. Suddenly they're getting half as much newly-mined crypto to sell off to the plebians. The price is just the matching point of the supply and the demand. So, reducing the newly created supply is bullish for Bitcoin's price, assuming demand stays flat.

>>15118359
Again, what if demand isn't willing to pump the price to double its value? Most miners stop minimg and btc will go in a death spiral?

>>15118317
That’s hilarious, I’ve heard horror stories of Westerners doing business with Chinese companies that set up shop and suddenly disappear like bandits in the night with your money, but they even do it to each other. It really is amazing for a society supposedly built on rigid law and order, in some ways it is complete anarchy as well.

>>15119135
less demand
less miners
lets assume apocalypse level stuff
you still will have some miners with free electricity, BTC will still be there

however if the price goes lower, the store of value meme will pop

>>15119175

Thats in the chinese DNA. It's their nature to lie and cheat, just like jews.

>>15118317
Neat

>>15116789
China has extreme regulations to prevent capital flight

> be China
> sell all crypto
> next day
> ban all crypto
> buy all crypto
> next day
> unban all crypto
> repeat until dominant power

Why are the insects not doing this??

Check this out
https://crypto-markets.news/article/profile/197/bitcoin-breaks-$11,000-again
>tensions between HK & China
>tensions between Taiwan & China
>Tradewar with Trump
>Low oil prices

The HKers and richer Chinese mainlanders are moving their holdings to BTC after a crash with the Yuan and HK dollar

>>15119411
They are.

feelsgood bros, can't wait to get rich off the backs of impoverished and starving ching chong insectoids.

>>15116919
halfway decent assessment, as could be done by anyone that ever sat through an econs class. I'm impressed with this board today!

>>15120287
Thanks fren

>>15116913
My mom said ooh look at bitcoin, I’d invest in it if it was legal

>>15118317
My mom also predicted a war , she said China is going to find a way to distract its people from the fact their starving

>>15119135
The same thing that happened when Jihan Wu and Bitmain tried to destroy Bitcoin two years ago -- a few miners will shut down, others get free electricity and keep going, still others tough it out and mine at a loss for a couple of weeks, yet others power up their boxed-up old hardware because suddenly the machines could be profitable again. Block rate goes down a bit for two and a half weeks, difficulty adjusts, the world goes on, shorts and shitcoin shills get BTFO as usual.

You'd think the shitcoin shills would have figured it out by now after multiple 85% price drops -- bitcoin badger don't give a fuck.