This type of news reminds me of a COMEDY movie named "A Fish called Wanda"...I'll show you what I mean.
Here's a news article about it:
https://qz.com/1174091/china-wants-an-orderly-exit-from-bitcoin-mining/
Here's the leaked document tweet about it:
https://twitter.com/cryptovenus/status/949405526315716608
- cryptovenus
In short, China is trying to get large scale mining operations to stop consuming so much power and shut down their operations in an orderly fashion. They need power to go to legitimate use, and not wasting so much of their resources on Bitcoin mining.
...so what could we expect from that?
As this happens in China, naturally these profitable mining houses are simply going to move elsewhere or it will open new opportunities for Bitcoin mining in other geographic places.
- How will this affect Bitcoin?
- Other than speculation price, I think it will be business of usual.
However this brings me to realize what mainstream media always does... when it comes to Bitcoin. They bang their drums and shout as loud as they can when there is some negative Bitcoin news to spread.
..
This is FUD, just like the movie clip below.
..
FUD (Fear, uncertainty and doubt) is often used by investor trolls who try and cause unnecessary panic selling when they want to buy more of something.
FUD by mainstream media and governments is often used to try and cause unnecessary harm and panic to cryptocurrency trading in general.
So now we look at how successful the character Otto was (Kevin Kline) in convincing this lady of the ultra secretive government move happening in her neighborhood:
Listen to the conversation Otto has with her acting as Mr. Manfrengensen a secret agent:
That movie clip is just as silly as many new Bitcoin media reports out there that gets people freaking out and cashing out of cryptocurrency.
What is it that everyone is afraid of?
I see a bunch of unnecessarily nervous people out there. It gets silly to watch the dumping of Bitcoin when this constantly happens.
I look forward to another big Bitcoin upswing near end of January to mid-February 2018. We'll see if I am right.
This isn't investment advice. It's simply my opinions and my observations.
What do you think about all of this?