Bitcoin Forum

New documentary just came out on CCTV in China and it focuses mainly only on negative aspects of bitcoin and people losing money.  Even people in the documentary have come out and said the documentary was heavily edited and didn't show their real thoughts on bitcoin.

In other news Houbi just closed on of it's accounts it allowed people to make deposits into out of fears of getting in trouble.  There's still ways to get money in and out of various exchanges in China but it's certainly getting harder and the places that are allowing it really seem to be skating on thin ice so to speak.

With only one month into the "crackdown"  in China do you expect this trend to continue or will the government do a 360 and allow bitcoin to flourish. What are the odds that exchanges could potentially get shutdown/banned , especially if there's exchanges that continue to allow people to get rmb in/out of the exchange.


Link for reference to the documentary, would be nice if someone could add English subtitles: 
http://www.coindesk.com/chinese-government-backed-tv-program-bashes-bitcoin-outrages-community

yeah you never know the next step, strange behaviour.  :-\

Houbi switched from his personal to business account. This is good in my book.

For now.............

There seems to be little indication the gov. in China want take issue with that as well.  Houbi is still pushing the limit and skating on thin ice to say the least.

So.... there will be another big dip in BTC price?

You make it sound like all of China, people in China, the Chinese people, are against Bitcoin. Let's use more careful language to delineate between the two.

This just means that the Chinese government has finally figured out what Bitcoin is. So they're no longer going to let the Chinese media report truthfully on this subject. There is now an "official" position that the people in the media will feel compelled to approach the subject with.

Yes maybe I should be more clear.... when I say China I mean the Chinese government.  China as in the people of China love bitcoin and are buying it up like crazy, and rightfully so.

I assumed most people would know the difference but you're probably right that going forward I should rephrase it to avoid any confusion or to not risk insulting anyone.

Oh yes, you can bet your left nut on it. China is purposely planning to make the price drop and spread fear so they can keep people away form bitcoin.

China peddling propaganda? Never  ;D.

I wasn't thinking about confusion or "political correctness" - I think almost everyone will internally translate the metonym in your topic title correctly ("China" -> "Chinese authorities")... It's more about clarity of language. Using conflating metonyms is something governments love. Identifying/conflating them (subconsciously in our language) with the people they (pretend they have the authority to) rule over gives them great legitimacy.

Fuck the chinese. Bit coin was around long before they even knew about it. The bubbles and gradual upward trend would have happened with or without the chinese.

Crypto will march on, without the chinese and it will only take a little longer to rise to 1000 dollar + value and beyond.

so the government in china is ok with exporting bitcoin mining equipment but not bitcoin?

Thank god the pathetic people behind the Chinese government are doing this.  They will expose only a small amount of the arrogance of the thinking behind middle earth as bitcoin continues to climb.

Does this explain why the price has dropped in the past day when you'd expect a price increase on news of Overstock and other good news from outside China?  Also what is the percentage of coins in China?

People want what they can't have. They will find ways to get it.

I wouldn't be surprised to see a price rise as the deadline nears, as people rush to get yuan into bitcoin instead of out of bitcoin.
That said, prevailing expectations seem to learn toward a dip.