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Title: china bans bitcoin again. Post by: yomofo on March 27, 2014, 01:53:48 AM http://tech.ifeng.com/internet/special/bitcoin-news/content-3/detail_2014_03/27/35186911_0.shtml
http://pastebin.com/zVXFAYuL 2nd source to substantiate news: http://finance.sina.com.cn/money/bank/bank_hydt/20140327/092518630481.shtml Quote Sources said the central bank notification requirements to close China 15 bitcoin site bank account At 08:01 on March 27, 2014 Source: Phoenix Technologies With a micro-channel two-dimensional code scanning Share to friends and friends Person to comment This will get stricter enforcement of such funds account Bitcoin transactions had to move abroad to become other than disk -based semi- underground market long ago, the world's largest Bitcoin trading platform Mt.Gox therefore internal mismanagement and collapse , currently the world's three largest trading platform for bitcoins Bittamp, Bitfinex, btc-e. PS: be required to terminate the existence of institutions with banks and third-party payment account transactions Bitcoin trading platform has the following 15 : Phoenix Technology News March 27 , according to the new fiscal " Financial Industry Watch" report, the central bank issued a notice in mid- March to prohibit domestic banks and third-party payment mechanism for Bitcoin trading platform account, voucher , payment , cash and other services , ordered them to shut down for the 15 largest bitcoin bank account opened trading platform , financial institutions and cut contact between bitcoin bubble . This will get stricter enforcement of such funds account Bitcoin transactions had to move abroad to become other than disk -based semi-underground market It is reported that the central bank branches to the central bank issued a report entitled "further strengthen risk prevention bitcoins work notice " (the "Notice" ) in mid- March , the document requires banks and third-party payment agencies, Close all trading accounts within the territory of more than a dozen Bitcoin platform. This means that financial institutions trading account opening Bitcoin website platform is not legitimate unless cash transactions, investors not to bitcoin bank transfer transactions in China , third-party payment , unprecedented intensity . "Notice" requirement that all commercial banks and third-party payment agencies to close all accounts of these platforms , the deadline is April 15 . Before this deadline , these accounts can still withdraw cash , but can not recharge. Overdue closed , the central bank will be punished. In addition , the central bank also asked the Association to continue to track the payment and settlement platform recharge means change , and timely notification to commercial banks. After the central bank in March , " notice" , all Bitcoin website company can open a bank account , while using personal accounts recharge once found will be banned . Also means that , after a grace period of April 15 , bitcoin site to the customer no longer has legal access to cash . The document also contains the name of a Bitcoin China (BTCChina), fire currency network , OKCoin currency transactions and other 15 -bit platforms , including the list ( see below ) . March 19 , online news that "the central bank ban Bitcoin trading platform " message. In this regard , the central bank released the same day official microblogging microblogging called " '4 before April 15 to stop all Bitcoin transactions ' is untrue , the attitude of the People's Bank Bitcoin has five ministries in the People's Bank " on guard against the risk of Bitcoin notice "clearly expressed ." But according to the new fiscal confirm that the central bank "notification" true. Just the wrong time news spread that the central bank is not prohibited Bitcoin trading platform , but prohibits banks account for the Bitcoin trading platform , payment, clearing and other services. PS: be required to terminate the existence of institutions with banks and third-party payment account transactions Bitcoin trading platform has the following 15 : Bitcoin China (BTCChina) Fire currency net Okcoin Fxbtc Bitcoin trading network China bitcoin btc100 Bit children 808 bitcoins Bit Era Cattle currency net Bitcoin International Bitcoin days 42btc btc star Title: Re: china bans bitcoin again. Post by: damnek on March 27, 2014, 01:58:14 AM I'm starting to get tired of this
Title: Re: china bans bitcoin again. Post by: chessnut on March 27, 2014, 01:58:37 AM ty for the link I wish I could read chinese though =P
Does everyone have their low buy orders ready??? Title: Re: china bans bitcoin again. Post by: MOB on March 27, 2014, 02:13:40 AM Well, there goes a 220 BTC sell-off. So it begins!
Title: Re: china bans bitcoin again. Post by: chessnut on March 27, 2014, 02:15:15 AM http://tech.ifeng.com/internet/special/bitcoin-news/content-3/detail_2014_03/27/35186911_0.shtml http://pastebin.com/zVXFAYuL yomofo thanks for the snappy update where do I donate? ;) Title: Re: china bans bitcoin again. Post by: seleme on March 27, 2014, 02:24:36 AM Hopefully for good. Cheers China, thanks for so far :)
Title: Re: china bans bitcoin again. Post by: seriouscoin on March 27, 2014, 02:26:34 AM I'm starting to get tired of this Chinese officials dumped their coins and now they want to buy cheap coins.... it will never end. Title: Re: china bans bitcoin again. Post by: gentlemand on March 27, 2014, 02:30:39 AM Can anyone translate the, er, translation?
Title: Re: china bans bitcoin again. Post by: CoinRocka on March 27, 2014, 03:00:57 AM http://www.coindesk.com/coindesk-launches-chinese-yuan-bitcoin-price-index/
Queue the fake Chinese volume bombshell... Title: Re: china bans bitcoin again. Post by: Siegfried on March 27, 2014, 03:28:08 AM It says that using bank accounts to send funds to a Bitcoin trading platform is prohibited, but that cash trading is not (除非现金交易). I wonder how that is going to work. Will people withdraw large amounts of cash and give it to an agent of an exchange? Inconvenient, but it would not deter me from buying.
Title: Re: china bans bitcoin again. Post by: Dalmar on March 27, 2014, 03:31:24 AM It says that using bank accounts to send funds to a Bitcoin trading platform is prohibited, but that cash trading is not (除非现金交易). I wonder how that is going to work. Will people withdraw large amounts of cash and give it to an agent of an exchange? Inconvenient, but it would not deter me from buying. It would effectively dry up fiat liquidity on Chinese exchanges, as time goes by less and less fiat will be available. It's pretty much a death sentence for Chinese bitcoin exchanges. Title: Re: china bans bitcoin again. Post by: Siegfried on March 27, 2014, 03:41:27 AM It says that using bank accounts to send funds to a Bitcoin trading platform is prohibited, but that cash trading is not (除非现金交易). I wonder how that is going to work. Will people withdraw large amounts of cash and give it to an agent of an exchange? Inconvenient, but it would not deter me from buying. It would effectively dry up fiat liquidity on Chinese exchanges, as time goes by less and less fiat will be available. It's pretty much a death sentence for Chinese bitcoin exchanges. Huobi and OKCoin both recently received 10 million dollar venture capital investments. They say they have big plans to expand internationally. I think the odds are that they will again find a way to survive. There is a large Chinese diaspora, so I think they will soon start accepting deposits in other currencies. And as the price starts to rise again due to factors outside of China, Chinese investors will not just sit back and let it happen without them. They will find a way. Title: Re: china bans bitcoin again. Post by: TERA on March 27, 2014, 03:45:16 AM The ban is old news from December, but people chose to ignore it. Now action is being taken to actually close the accounts, I guess. I warned of this over, and over, and over.
Title: Re: china bans bitcoin again. Post by: rjp55 on March 27, 2014, 03:52:27 AM Nostradamus. Surprised you're not filthy stinking rich by now seeing as your word is the Bitcoin bible and everyone follows.
http://www.csuchico.edu/mgmt/gomes/GuvTootingHisOwnHorn.jpg Title: Re: china bans bitcoin again. Post by: aminorex on March 27, 2014, 04:02:39 AM Probable hoax.
http://finance.jrj.com.cn/2014/03/27101116938690.shtml Title: Re: china bans bitcoin again. Post by: Bit_Happy on March 27, 2014, 04:06:15 AM http://www.coindesk.com/coindesk-launches-chinese-yuan-bitcoin-price-index/ Queue the fake Chinese volume bombshell... In addition to the significant volume of bitcoins which are exchanged for CNY, events (or rumors) from China are once again having a material influence on bitcoin. Overall, while there are reasons to be skeptical of self-reported bitcoin volumes, China is clearly a very important market for bitcoin, and CoinDesk feels it is important to launch a dedicated CNY Bitcoin Price Index. Can we bring back ChinaCoin soon? :D Title: Re: china bans bitcoin again. Post by: balanghai on March 27, 2014, 04:07:59 AM Well maybe they banned it again because they now have Hypersonic Missiles. And will just shut down competition. :D
Title: Re: china bans bitcoin again. Post by: aminorex on March 27, 2014, 04:09:44 AM http://www.reddit.com/r/Bitcoin/comments/21h8sw/china_news_is_fake_human_translation_from_okcoin/
Price is stable on Huobi at 553. Title: Re: china bans bitcoin again. Post by: TERA on March 27, 2014, 04:30:12 AM Nostradamus. Surprised you're not filthy stinking rich by now seeing as your word is the Bitcoin bible and everyone follows. How is this my word? It is the word of the PBOC that they issued in December. Why did you ignore the PBOC? Did you think it was a joke? Did you think that the Chinese government (of all countries) does not enforce things and was going to let it go on forever?Title: Re: china bans bitcoin again. Post by: nwfella on March 27, 2014, 05:54:13 AM The great Chinese crypto-gambit of 14'
Title: Re: china bans bitcoin again. Post by: Elwar on March 27, 2014, 05:57:18 AM Umm, this was true a long time ago.
The exchanges get around this by selling vouchers for cash which can be used on their exchange as cash. Title: Re: china bans bitcoin again. Post by: counter on March 27, 2014, 05:59:11 AM So um if they banned Bitcoin again as you say does that mean at some point there was a period when they unbanned Bitcoin?
Title: Re: china bans bitcoin again. Post by: windjc on March 27, 2014, 07:47:20 AM The ban is old news from December, but people chose to ignore it. Now action is being taken to actually close the accounts, I guess. I warned of this over, and over, and over. OHHH NOOOOS! (except it was not a real story). Fool me once, shame on you. Fool me 73 times, shame on me. Title: Re: china bans bitcoin again. Post by: windjc on March 27, 2014, 07:49:43 AM Nostradamus. Surprised you're not filthy stinking rich by now seeing as your word is the Bitcoin bible and everyone follows. How is this my word? It is the word of the PBOC that they issued in December. Why did you ignore the PBOC? Did you think it was a joke? Did you think that the Chinese government (of all countries) does not enforce things and was going to let it go on forever?Yes. Pretty much. They have a history of making statements and not following through because they don't really believe their own statements, but just want other parties to believe them. Do some research. Read about their modern day history. Its not like the Western World. Its a lot of smoke and mirrors. Title: Re: china bans bitcoin again. Post by: BitOnyx on March 27, 2014, 08:01:23 AM Ban again ?
I guess it is hard to force people to stop using bitcoin :D Title: Re: china bans bitcoin again. Post by: MatTheCat on March 27, 2014, 12:54:27 PM OHHH NOOOOS! (except it was not a real story). Fool me once, shame on you. Fool me 73 times, shame on me. Is it a real story or isn't it? Last night it was just rumours on reddit, now it is cropping up in corporate media. Title: Re: china bans bitcoin again. Post by: Mythul on March 27, 2014, 01:11:09 PM Man I'm so angry I'm gonna dump again >:( >:( >:( >:(
Title: Re: china bans bitcoin again. Post by: Icardi09 on March 27, 2014, 02:49:43 PM ban again, idk why china gov are too sentiment with BTC
Man I'm so angry I'm gonna dump again >:( >:( >:( >:( sold now and buy later when $450 ;DTitle: Re: china bans bitcoin again. Post by: Torque on March 27, 2014, 03:10:46 PM ban again, idk why china gov are too sentiment with BTC Man I'm so angry I'm gonna dump again >:( >:( >:( >:( sold now and buy later when $450 ;DBig mistake. Title: Re: china bans bitcoin again. Post by: gaazje on March 27, 2014, 03:14:03 PM Indeed, won't go below 500..
Title: Re: china bans bitcoin again. Post by: C10H15N on March 27, 2014, 03:18:43 PM *Yawn* - So what? ::)
When the price drops, buy as the scared sheep are panic selling. 8) |
