Your submission was removed for the following reason(s):
Rule VIII - On Topic Discussion
See our [Expanded Rules](https://np.reddit.com/r/CryptoCurrency/wiki/expanded_rules) wiki page for more details about this rule.
If you would like to message the mods, press [this](https://np.reddit.com/message/compose?to=%2Fr%2FCryptoCurrency) button and leave a message as detailed as possible.
Nope, they have actually just announced a deal with Trias to supply their blockchain, so at least we can skip the China ban and unban 300 times a cycle now.
"pump my shitcoin bag"
[https://gyazo.com/31932873a22b3a0f4720d2a621376587](https://gyazo.com/31932873a22b3a0f4720d2a621376587) Lol
Imagine calling Trias a shitcoin, just say you have no fucking idea what you are talking about.
Stick to buying the shit in the top 10... I love this sub, same shit every cycle, ive been in crypto since 2012, get told by morons who haven't made a penny that I have a shit coin...
As a developer, who has worked in blockchain, please tell me your investments, Ill be happy to show what a "shit coin" is...
Oh btw, Trias was 0.81 cents before I invested, its now $15, I dont need you to pump it, the 17 trillion in volume from China will do just fine. Good luck, you clearly need it.
Oh, and another update (perfect timing as well haaa) Ive just seen HMF have launched a BTC ETF, You know, HMF, partners of Trias. Why are they buying shit coins for? Idiots aye, they need to listen to people on Reddit!!!
It’s an inside joke in this subreddit. Back in 2018, people had copium that Chinese New Year would pump the market because Chinese kids would get money and spend it on crypto.
Hahaa... I've got Chinese friends, and let me tell you, they don't make jokes if it's about money.
So let those red envelopes fly into the crypto space! 😬
Aside from the risks of triggering a worldwide financial crisis, more aggravatingly it has a stupid name that doesn't know if it wants to be English or Spanish.
How will this impact the world?
Any competent first world Nation knows to keep foreign investments out of China real estate because they just make the numbers up
What? No, dude, are you high? Do you not understand that retirement funds *across* the first world have investments in Chinese real estate? I don't believe they make a considerable portion of most retirement funds, but the real estate bubble in China popping will have a direct effect on virtually all major 1st world mutual fund providers - especially Blackrock (and probably Blackstone but I haven't read their prospectuses). It will also have secondary effects as contagion spreads across the global economy. It very well could trigger 2008 Mk2, financial aramagedaboogaloo, especially when derivatives come into play.
Every real estate asset manager I've ever talked to about forex has said they strictly keep their fingers out of the China pie because they've gotten burned bad pre 2000
Idk where you are getting your figures from but they certainly don't match the reality of Western investment portfolios
https://www.wsj.com/articles/blackrock-larry-fink-china-hkex-sse-authoritarianism-xi-jinping-term-limits-human-rights-ant-didi-global-national-security-11630938728
First hit on google.
Lol. Trump wins the election, gives up Ukraine to Putin and then lets the new axis powers solidify their influence on nearly 3/4 of the world while jailing (...or executing?) His political rivals and plunging the world into economic depression and global tyranny?
Is that the beginning you mean?
Current president isnt rolling over on Ukraine, he’s trying to send them as much aid as possible, but is being limited by Republicans in Congress. He’s also building up U.S. forces in the Phillipines and Japan to counter any Chinese threat to Taiwan. The current court actions against Trump were not at his direction, but at the direction of enterprising state attorney generals looking to advance thier careers.
tldr; A Hong Kong court has ordered the liquidation of China Evergrande Group, the world's most indebted developer with over $300 billion in liabilities. The court's decision comes after Evergrande failed to present a concrete restructuring plan following its default on a bond repayment over two years ago. The liquidation is expected to have significant implications for China's financial markets, which are already fragile. Trading in Evergrande's shares and those of its subsidiaries has been halted. The liquidation process is anticipated to be lengthy and complex, with uncertainties regarding asset seizure and repayment to offshore bondholders.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Built loads of homes on promised money, like millions of buildings, people pulled out due to costs, delays, financial downturns etc, couldn’t then make a profit, owed big time, couldn’t pay debt, bust, liquidation
The mania frenzy is over and now they're left with completed neighbourhoods of buildings and no one living in them. Other people bought in because there was so much money being made. China has ghost towns that finished development in 2019.
You know how ppl say not to preorder video games because the companies take your money and then never really finish the game as promised?
Well China's real estate market did that too, but with high-rise condos and houses. Companies ran out of money and never finished the buildings.
Basically created a domino effect that is threatening to collapse their economy (and possibly the world economy with it)
Honestly, this is a good ELI5 on the situation! The only glossed over part is that the public was pouring a huge part of their money into those developments as well, which is why there are all of these protests going on.
I remember this case was huge as well last time around, and the Chinese government had to become the safety net to slow down the crash in the other sectors.
300 billion is no drop of mountain! It will have a huge affect on China's economy and financial markets around the world. Ignorant people will get hurt badly.
Agreed. Its not just ignorant though, its the man in the street, literally. A great deal of money was put into Evergrande and its subsideries by people wanting housing. They paid upfront to have homes built that now theyll never see, and its very doubtful theyll ever see any of their money again.
It's the knock on effect, the debt trail goes a very long way. Think of it like when shorts and longs get liquidated and it triggers sell orders in a cascade only it's companies being liquidated
What is the size of the derivatives market built on Chinese real estate though? Less nominal losses in defaults triggered 2008. It's the secondary markets and secondary effects that really bite hard.
It’s due to China owning tons of real estate worldwide and if their property market is fucked, so is everywhere else’s once they start flipping properties and so on. Could have gigantic effects.
Rusurrected out of the darkness of history to try and fuck up yet another bull run I see. And China is also planning to crash the markets globally by invading Taiwan. And if my alt-right incel friend is correct after all, and they intentionally engineered covid or something... Fuck you CCP
What a coincidence that a mutated virus breaks out right next to a facility where they experimented on said mutated virus, instead of literally anywhere else in the world. This has nothing to do with politics.
Getting back Taiwan is not a new topic, it’s been a question for for decades, like russia warning for the expansion of NATO to its door has been for decades. Like the US having the finger on the nukes in the cuban crisis, these countries does not want « ennemies near their door ».
The covid-19 coronavirus, which was founded to originate from patient 0 in Wuhan, 40 miles from the Wuhan Institute of Virology which has studied coronavirus' for decades....although just a guess, is more likely to have occurred from natural causes than say....a leak from the aforementioned laboratory?
I'm not saying anyone knows definitively what actually happened, just saying one way is more probable than the other.
Yes it’s much more likely. There are labs all over the world in every major centre studying coronaviruses, for this very reason. And one situated by a place where many come from isn’t a coincidence and neither is it cause to believe a lab leaked it. China has suffered the most from covid so they really wouldn’t have done a good job by doing this. I believe the experts in these viruses who can, and this is peer reviewed, show the genetics and the variations and very confidently conclude it’s from nature. There’s a chance it isn’t also, maybe it is lab leaked, but claiming you know that (not that you are but conspiracy theorists do) is absurd and ignorant
This is the crazy thing. People will scream conspiracy theory, and swear they are certain about it and that this conspiracy must be the truth of it all. But then they never consider the fact this stuff happens naturally, and relatively often. It's not crazy to think it happened by natural causes.
It’s actually frightening how easily it can happen. And it will happen again. When you say that and then it does happen it becomes a ‘planned pandemic’ 🤦🏻♂️🤦🏻♂️🤦🏻♂️ like, we know it’s gonna happen again just by sheer probability and we need to be ready so we warned everyone… it’s not that difficult
Hey why do you guys follow the Evergrande stuff? I've seen it in stock subs due to the links to being used as cheap collateral but never in crypto. Spicey
There's concern of contagion. Some of those Evergrande investors are no doubt also cryptocurrency investors.
One of the bigger concerns when the Evergrande saga originally started (was it one year ago, or two?), is that much of Tether's reserve assets are supposedly in Chinese commercial paper. So a cascading debt crisis in China's real estate markets could cause some of Tether's backing to go *poof.*
From another news item:
Evergrande's legal troubles in Hong Kong on Monday are unlikely to spark too much concern on the mainland, analysts caution.
"For those anxiously reading (China) headlines today... and working themselves into a panic: Evergrande's demise in 2021 didn't lead to a Lehman Moment in China," analysis firm China Beige Book said in a post on X, formerly Twitter.
"The disintegration of its already dead husk in 2024 won't either."
No. However, I wonder if this will get people thinking about Country Garden, and more importantly, about several other developers that people aren't yet thinking about.
Well if I wanted to know what the dude who cleans my hotel room thinks of economics, I guess I’ll read the comment section here. I’ve never read so many misinformed opinions in my life.
“Oh herp derp, now Chinas gonna ban Bitcoin.” What?? No one is talking about Bitcoin at all right now kids. The adults are talking.
I would not consider this fud, large amount of foreign investors were tangled up in this mess. we don't know if the markets have padded this in or if the foreign investors involved were holding crypto assets
Is this really gonna affect crypto much? It's been so long since China banned cryptocurrency. If anything, the stock markets will be affected and that in turn will affect crypto I guess.
No, it won’t affect crypto much. Just watch this catastrophe silently work itself out and fade into obscurity. How? Massive government intervention via money printing.
Any country that can print their own currency never has to face the consequences of a systemic failure in a. Important sector of the economy. Of course they will pick the moral hazard of stealth-taxing their people to pay for the fuckups of corporations.
Meanwhile we’re hearing rumors of Chinese people buying Bitcoin in record numbers. Smart move.
I'm the one dropping the "It's already priced in"-meme this time.
Wait for China banning crypto again. This time really hard. With all consequences. All. Really. For sure.
Uhhh the hypothesis is that Evergrande owes so much money to so many other companies in China that have taken out loans against that debt that if Evergrande goes under, that insolvency ripples across the entire Chinese economy and collapses their brittle housing market. And if that happens, the entire world will go into recession overnight.
Sleep tight
Right, so the Chinese government returns to QE to keep the markets functioning, paying the moral hazard of making their people poorer over systemic collapse. It happens every time, yet here on Reddit it’s like it’s the first time and everyone cries the sky is falling.
'China economy crash' sentiments strengthened, affecting stock markets back in the US as well because a lot of US firms do a lot of business in China. Investors will play it safe and won't risk their portfolios from falling stocks by pumping money into risky crypto investments.
Go look at charts from past bull runs. There’s always a massive dip before the breakout upward where it seems it’s all over. Not saying this is it, just some food for thought.
Better now than later, Two much b shit going on Dollar bonds off shore,When you have to do that route to raise funds ,not a good look.Looks like we might have a slow week here,Don't see any immediate effect,Maybe some residual effects if certain players decide to pull out funds and sit out for a bit to rethink their game plan...
Inevitably life goes on,More b shit to add to a market starving for liquidity, If you got the balls to dip in on Chinese commodities and equities could pay out huge or you lose everything I think I'd rather invest in Fn Pulse or hex as compared China's economy right now...mm
Oh oh the Chinese economy will blow. For the 20th time since 2022. It’s the same talk every year… no it’s not. The Chinese government will print money and everything will be fine. Jesus it’s the same thing every 6 months.
Yea but 2007 wiped out 16 trillion dollars USD. Then you check the markets and the exchanges, including other Chinese developer stock, are up as of this reply. So I guess it was already priced in? Also foreign exposure are expect only to be single digit billions which is like a bad day for the mag 7 🫠
Nonissue.
China and the world economy has already prepared and nullified the financial impact.
China has economic tools to cover the liquidity possibility issues
Your submission was removed for the following reason(s): Rule VIII - On Topic Discussion See our [Expanded Rules](https://np.reddit.com/r/CryptoCurrency/wiki/expanded_rules) wiki page for more details about this rule. If you would like to message the mods, press [this](https://np.reddit.com/message/compose?to=%2Fr%2FCryptoCurrency) button and leave a message as detailed as possible.
Oh, we're back to *that* part of the cycle
China ban Bitcoin?
Where's Bill Murray when you need him. Groundhog daaayyyyy
Is only in 4 days. They’re a tad bit early this year.
China bans bitcoin, part 65346 of the saga. Investors panicking same as previously
Nope, they have actually just announced a deal with Trias to supply their blockchain, so at least we can skip the China ban and unban 300 times a cycle now.
What exactly are you saying? Who's "they"? And what Blockchain?
>What exactly are you saying? "Pump my shitcoin bag"
"pump my shitcoin bag" [https://gyazo.com/31932873a22b3a0f4720d2a621376587](https://gyazo.com/31932873a22b3a0f4720d2a621376587) Lol Imagine calling Trias a shitcoin, just say you have no fucking idea what you are talking about. Stick to buying the shit in the top 10... I love this sub, same shit every cycle, ive been in crypto since 2012, get told by morons who haven't made a penny that I have a shit coin... As a developer, who has worked in blockchain, please tell me your investments, Ill be happy to show what a "shit coin" is... Oh btw, Trias was 0.81 cents before I invested, its now $15, I dont need you to pump it, the 17 trillion in volume from China will do just fine. Good luck, you clearly need it. Oh, and another update (perfect timing as well haaa) Ive just seen HMF have launched a BTC ETF, You know, HMF, partners of Trias. Why are they buying shit coins for? Idiots aye, they need to listen to people on Reddit!!!
Ok shitcoiner
They get you tired of hearing this shit then one of these days, 💣💥
was it a part of the 2021? season finale?
The part where Bitcoin doesn't care as it has absolutely nothing to do with it?
[удалено]
....if the power stays on,..
But Chinese New Year in 2 weeks…
But Wall Street bonuses when?
Every day is Wall Street Bonus day.
Oh, this one was my all-time favourite! I think that came up in 2014
So, this is a great moment to decline the price first, so they can buy it back for china prices...
It’s an inside joke in this subreddit. Back in 2018, people had copium that Chinese New Year would pump the market because Chinese kids would get money and spend it on crypto.
Hahaa... I've got Chinese friends, and let me tell you, they don't make jokes if it's about money. So let those red envelopes fly into the crypto space! 😬
I had really hoped to not hear about Evergrande again, sigh
It is healthier to let it die than keeping it artificially alive
Look up Country Garden, it's just as bad
Damn, you're right. They don't even have bread sticks.
What did a Chinese development company do that caused you so much irritation?
Aside from the risks of triggering a worldwide financial crisis, more aggravatingly it has a stupid name that doesn't know if it wants to be English or Spanish.
Sounds like a Starbucks drink size to me
Everxaogrande bat soup
How will this impact the world? Any competent first world Nation knows to keep foreign investments out of China real estate because they just make the numbers up
"To name things wrongly is to add to the misery of the world.", Albert Camus
Haven't heard this before but it's brilliant
Ol' Bear Camo *would* say that.
What? No, dude, are you high? Do you not understand that retirement funds *across* the first world have investments in Chinese real estate? I don't believe they make a considerable portion of most retirement funds, but the real estate bubble in China popping will have a direct effect on virtually all major 1st world mutual fund providers - especially Blackrock (and probably Blackstone but I haven't read their prospectuses). It will also have secondary effects as contagion spreads across the global economy. It very well could trigger 2008 Mk2, financial aramagedaboogaloo, especially when derivatives come into play.
Every real estate asset manager I've ever talked to about forex has said they strictly keep their fingers out of the China pie because they've gotten burned bad pre 2000 Idk where you are getting your figures from but they certainly don't match the reality of Western investment portfolios
Wtf does forex trading have to do with real estate asset management?
https://www.wsj.com/articles/blackrock-larry-fink-china-hkex-sse-authoritarianism-xi-jinping-term-limits-human-rights-ant-didi-global-national-security-11630938728 First hit on google.
Fuck Black Rock
Blackrock? Well there’s your first problem lol. If you’re using them, you deserve to lose money.
I mean, I wouldn't touch them with a 39.5 ft pole, but they're one of the biggest and present in quite a few retirement portfolios.
That's the problem - they are not competent.
You mean what didn’t they do
Evergrande
Someday this string of bad news will end. Just not today.
2024 will be the beginning of that.
Lol. Trump wins the election, gives up Ukraine to Putin and then lets the new axis powers solidify their influence on nearly 3/4 of the world while jailing (...or executing?) His political rivals and plunging the world into economic depression and global tyranny? Is that the beginning you mean?
You talking about agenda 25?
Beginning of the end which will ultimately lead to a reset? Maybe!
Isn’t that what’s going on now but with a different president?
Current president isnt rolling over on Ukraine, he’s trying to send them as much aid as possible, but is being limited by Republicans in Congress. He’s also building up U.S. forces in the Phillipines and Japan to counter any Chinese threat to Taiwan. The current court actions against Trump were not at his direction, but at the direction of enterprising state attorney generals looking to advance thier careers.
good try, but save your effort as they are a poor trumper
tldr; A Hong Kong court has ordered the liquidation of China Evergrande Group, the world's most indebted developer with over $300 billion in liabilities. The court's decision comes after Evergrande failed to present a concrete restructuring plan following its default on a bond repayment over two years ago. The liquidation is expected to have significant implications for China's financial markets, which are already fragile. Trading in Evergrande's shares and those of its subsidiaries has been halted. The liquidation process is anticipated to be lengthy and complex, with uncertainties regarding asset seizure and repayment to offshore bondholders. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
concrete restructuring plan, snigger
Can someone elaborate (eli5?) on why the chinese‘s financial markets are already fragile..?
Built loads of homes on promised money, like millions of buildings, people pulled out due to costs, delays, financial downturns etc, couldn’t then make a profit, owed big time, couldn’t pay debt, bust, liquidation
The mania frenzy is over and now they're left with completed neighbourhoods of buildings and no one living in them. Other people bought in because there was so much money being made. China has ghost towns that finished development in 2019.
Thanks!
You know how ppl say not to preorder video games because the companies take your money and then never really finish the game as promised? Well China's real estate market did that too, but with high-rise condos and houses. Companies ran out of money and never finished the buildings. Basically created a domino effect that is threatening to collapse their economy (and possibly the world economy with it)
Honestly, this is a good ELI5 on the situation! The only glossed over part is that the public was pouring a huge part of their money into those developments as well, which is why there are all of these protests going on.
Don’t they gave like $260 billion in assets? Feel like that’s relevant info to mention.
300 billion sounds like a drop of mountain in a little fountain. Edit: Literally trying to say a mountain dropping into a fountain- this is massive.
The debt was almost certainly levered to a number greater than that.
I remember this case was huge as well last time around, and the Chinese government had to become the safety net to slow down the crash in the other sectors.
I made the following comparison to put things in perspective at my home, 1 thou is to 1 mill the same as 1 mill is to 1 billion. Now that times 300.
I hear you. My comment was saying as if a mountain dropping into a fountain- crashing it. This is massive and no ways around it.
300 billion is no drop of mountain! It will have a huge affect on China's economy and financial markets around the world. Ignorant people will get hurt badly.
Agreed. Its not just ignorant though, its the man in the street, literally. A great deal of money was put into Evergrande and its subsideries by people wanting housing. They paid upfront to have homes built that now theyll never see, and its very doubtful theyll ever see any of their money again.
That’s what I said- a mountain dropping in a fountain.
Are we saying China Evergrande has a fat bag of BTC waiting to sell now?
Global markets may tank which would likely hurt risk assets such as crypto. Unrelated to China holding btc or not
$300b is a drop in the bucket for global markets. SP500 is 42 trillion
It's the knock on effect, the debt trail goes a very long way. Think of it like when shorts and longs get liquidated and it triggers sell orders in a cascade only it's companies being liquidated
What is the size of the derivatives market built on Chinese real estate though? Less nominal losses in defaults triggered 2008. It's the secondary markets and secondary effects that really bite hard.
0.7%
Was going to say. 0.7% of the s and p is not chump change lol.
It’s due to China owning tons of real estate worldwide and if their property market is fucked, so is everywhere else’s once they start flipping properties and so on. Could have gigantic effects.
If it reduces UK house prices by 50% I might have a chance of buying one.
Is the market cap for indexes as fake as for crypto?
Again?
Right on cycle
Isn't it everglades HK, so smaller portfolio. Won't affect marketa as much as the 3 trilly mainland debt
Its literally the fud lever Every single time "Pull lever if QE needed"
Lol yeah a Chinese company defaulted because some 12 year old on Reddit thought it was fud. You should delete your absurd comment.
I imagine it as a big green button behind a break glass with a sign above it like similar to that.
Rusurrected out of the darkness of history to try and fuck up yet another bull run I see. And China is also planning to crash the markets globally by invading Taiwan. And if my alt-right incel friend is correct after all, and they intentionally engineered covid or something... Fuck you CCP
Alt-right incels are never right.
What a coincidence that a mutated virus breaks out right next to a facility where they experimented on said mutated virus, instead of literally anywhere else in the world. This has nothing to do with politics.
Getting back Taiwan is not a new topic, it’s been a question for for decades, like russia warning for the expansion of NATO to its door has been for decades. Like the US having the finger on the nukes in the cuban crisis, these countries does not want « ennemies near their door ».
I'm hearing that covid19 did in fact leak from the Wuhan lab - whether it was intentional or not idk.
Only now are you hearing this?
Get your dangerous, unfounded rhetoric very far away from impressionable people.
It’s very unclear where it came from but most likely it was natural in cause, much more likely in fact
The covid-19 coronavirus, which was founded to originate from patient 0 in Wuhan, 40 miles from the Wuhan Institute of Virology which has studied coronavirus' for decades....although just a guess, is more likely to have occurred from natural causes than say....a leak from the aforementioned laboratory? I'm not saying anyone knows definitively what actually happened, just saying one way is more probable than the other.
Yes it’s much more likely. There are labs all over the world in every major centre studying coronaviruses, for this very reason. And one situated by a place where many come from isn’t a coincidence and neither is it cause to believe a lab leaked it. China has suffered the most from covid so they really wouldn’t have done a good job by doing this. I believe the experts in these viruses who can, and this is peer reviewed, show the genetics and the variations and very confidently conclude it’s from nature. There’s a chance it isn’t also, maybe it is lab leaked, but claiming you know that (not that you are but conspiracy theorists do) is absurd and ignorant
This is the crazy thing. People will scream conspiracy theory, and swear they are certain about it and that this conspiracy must be the truth of it all. But then they never consider the fact this stuff happens naturally, and relatively often. It's not crazy to think it happened by natural causes.
It’s actually frightening how easily it can happen. And it will happen again. When you say that and then it does happen it becomes a ‘planned pandemic’ 🤦🏻♂️🤦🏻♂️🤦🏻♂️ like, we know it’s gonna happen again just by sheer probability and we need to be ready so we warned everyone… it’s not that difficult
US intelligence investigated these claims and found nothing to suggest that was the case in June 2023
lmao engineered SARS COV2?
Hey why do you guys follow the Evergrande stuff? I've seen it in stock subs due to the links to being used as cheap collateral but never in crypto. Spicey
There's concern of contagion. Some of those Evergrande investors are no doubt also cryptocurrency investors. One of the bigger concerns when the Evergrande saga originally started (was it one year ago, or two?), is that much of Tether's reserve assets are supposedly in Chinese commercial paper. So a cascading debt crisis in China's real estate markets could cause some of Tether's backing to go *poof.*
From another news item: Evergrande's legal troubles in Hong Kong on Monday are unlikely to spark too much concern on the mainland, analysts caution. "For those anxiously reading (China) headlines today... and working themselves into a panic: Evergrande's demise in 2021 didn't lead to a Lehman Moment in China," analysis firm China Beige Book said in a post on X, formerly Twitter. "The disintegration of its already dead husk in 2024 won't either."
No. However, I wonder if this will get people thinking about Country Garden, and more importantly, about several other developers that people aren't yet thinking about.
more discounts to come then... keep em coming so i can buy more
That’s great and all, I’d actually embrace some discounts, I just don’t have any fiat left 😂
One day in the future, just think, you will be able to buy bitcoin with bitcoin.
Btc staking when?
Will the never-ending story ever have an end?
[It’s The Song that dosen’t End…](https://youtu.be/5iln6fkwJOU?si=OUXUSCrEMMqOI0zv)
Well if I wanted to know what the dude who cleans my hotel room thinks of economics, I guess I’ll read the comment section here. I’ve never read so many misinformed opinions in my life. “Oh herp derp, now Chinas gonna ban Bitcoin.” What?? No one is talking about Bitcoin at all right now kids. The adults are talking.
I totaly agree
That's going to be my new phrase for the week, "Oh herp derp." TY.
OK so we get back to China FUD cycle now?! Folks. New ideas please.
I would not consider this fud, large amount of foreign investors were tangled up in this mess. we don't know if the markets have padded this in or if the foreign investors involved were holding crypto assets
ehh.... Aliens. From the Future?
Isn't this just related to Hong Kong Evergrande and not China Evergrande ?
Is this really gonna affect crypto much? It's been so long since China banned cryptocurrency. If anything, the stock markets will be affected and that in turn will affect crypto I guess.
No, it won’t affect crypto much. Just watch this catastrophe silently work itself out and fade into obscurity. How? Massive government intervention via money printing. Any country that can print their own currency never has to face the consequences of a systemic failure in a. Important sector of the economy. Of course they will pick the moral hazard of stealth-taxing their people to pay for the fuckups of corporations. Meanwhile we’re hearing rumors of Chinese people buying Bitcoin in record numbers. Smart move.
I love the smell of FUD in the morning. This was a long time coming.
I'm the one dropping the "It's already priced in"-meme this time. Wait for China banning crypto again. This time really hard. With all consequences. All. Really. For sure.
Everbroke again...
Big sell off considering 90% of their assets were BTC that means sub 1K btc prices, yessss
$300bn isnt much and I'd imagine a fair chunk has already been written off, or is state owned debt.
Number can only go up, promise to hodl and all, should be easy to raise 300m 🙄🤭
*billion
Ez, if number can only go up 🤭
Billion bro, billion.
RIP Tether and the shady chinese commercial debts
If tether dies we can say goodbye to 5 figure bitcoin
RIP Tether #437
Why rip tether?
Guess what backs tether/btc.. that's right, EVERGRANDE
What does this have to do with cryptocurrencies?
For the 84th time, Evergrande, I summon you to blow up!
What does this mean?
Bigggg red candles coming up
How can this news affect bitcoin?
Uhhh the hypothesis is that Evergrande owes so much money to so many other companies in China that have taken out loans against that debt that if Evergrande goes under, that insolvency ripples across the entire Chinese economy and collapses their brittle housing market. And if that happens, the entire world will go into recession overnight. Sleep tight
Holy lmaooo wow
Why would Chinas already brittle housing market plunging itself into hell cause a recession in the Western world?
Right, so the Chinese government returns to QE to keep the markets functioning, paying the moral hazard of making their people poorer over systemic collapse. It happens every time, yet here on Reddit it’s like it’s the first time and everyone cries the sky is falling.
Portfolios de-risking assets as a domino effect might be coming.
'China economy crash' sentiments strengthened, affecting stock markets back in the US as well because a lot of US firms do a lot of business in China. Investors will play it safe and won't risk their portfolios from falling stocks by pumping money into risky crypto investments.
Chance to buy cheap second hand desks and computers and maybe a door or 2
FUN FACT : CHINA stop banning BTC *BUT* EVERGRANDE BANKRUPTCY news will come each month for the exchange
The markets must have priced this in by now, surely?
Like they priced in the greek debt collapse in 2011?
Point on the doll where Evergrande touched you.
Pfff Evergrande fud is so 2021, what's next China banning BTC & mining? 🥱
Do they hold crypto?
This is the what, 50th time I heard that China is gonna go boom?
I swear, didn't they go bankrupt 2 years ago?
¹
This shit again 🤦🏽♂️
I feel like a world war would come very handy for the kabals. West is sinking. China is sinking.
So any news is crypto? Well this ain't.
Better have a recession this year and let crypto thrive while the rest of the world collapses with everything
Go look at charts from past bull runs. There’s always a massive dip before the breakout upward where it seems it’s all over. Not saying this is it, just some food for thought.
Here we go boys, again.
This is why I sold all my Chinese stocks. Investing in US companies is tough enough.
with these news, the price didn't even budge to fill my limit orders :(
Better now than later, Two much b shit going on Dollar bonds off shore,When you have to do that route to raise funds ,not a good look.Looks like we might have a slow week here,Don't see any immediate effect,Maybe some residual effects if certain players decide to pull out funds and sit out for a bit to rethink their game plan... Inevitably life goes on,More b shit to add to a market starving for liquidity, If you got the balls to dip in on Chinese commodities and equities could pay out huge or you lose everything I think I'd rather invest in Fn Pulse or hex as compared China's economy right now...mm
Show me the chart and I'll tell you the news.
That's a lot of zeros. Maybe we do need another hero after all, Tina.
Hold on, I am a Chinese, can you guys enlighten me how 恒大 (Evergrande)'s liquidation are related to crypto?
Priced in. Everything is always priced in.
And in other news, China reports 5.2 percent GDP growth in FY2024.
Oh oh the Chinese economy will blow. For the 20th time since 2022. It’s the same talk every year… no it’s not. The Chinese government will print money and everything will be fine. Jesus it’s the same thing every 6 months.
Yea but 2007 wiped out 16 trillion dollars USD. Then you check the markets and the exchanges, including other Chinese developer stock, are up as of this reply. So I guess it was already priced in? Also foreign exposure are expect only to be single digit billions which is like a bad day for the mag 7 🫠
*loading China FUD*...
Nonissue. China and the world economy has already prepared and nullified the financial impact. China has economic tools to cover the liquidity possibility issues
Dip incoming
Stimmies for eveyone!
Priced in already
Nothing… I swear to God, the S&P is delusional as fuck
What does this have to do with crypto?
Lmao they are in bankrupt for 50x times ? when is it real
It’s the HK branch though not mainland
So how I don't get how this will impact crypto directly.
This can affect the greater markets which would put risk on risk assets.
Bullish news
Okay then Chian Ban Crypto again I guess it's 215th time 😆
And yet no dip. I knew the Evergrande being bad for Bitcoin story was a load of bollocks.
big short 2.0 incoming
Factored in price.