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Title: China orders banks to shut Bitcoin exchange accounts Post by: windpath on March 27, 2014, 02:01:45 PM When the news service Caixin reported this this morning CoinDesk called it "Unfounded rumors"....
Now bloomberg has picked it up, as factual news: http://www.bloomberg.com/news/2014-03-27/pboc-orders-banks-to-shut-bitcoin-exchange-accounts-caixin-says.html If this is true I'd say its a pretty big bummer for the Chinese and a blow to the overall Bitcoin economy, but not a death blow.... Thoughts? Title: Re: China orders banks to shut Bitcoin exchange accounts Post by: bitluryz on March 27, 2014, 02:14:12 PM http://fiatleak.com/
Fake ! Chinese are buying more cheap BTC now Title: Re: China orders banks to shut Bitcoin exchange accounts Post by: windpath on March 27, 2014, 02:24:03 PM http://fiatleak.com/ Fake ! Chinese are buying more cheap BTC now Ha, cool site, hope your right :) Title: Re: China orders banks to shut Bitcoin exchange accounts Post by: Lauda on March 27, 2014, 02:35:28 PM http://fiatleak.com/ That site isn't working correctly. Fake ! Chinese are buying more cheap BTC now Title: Re: China orders banks to shut Bitcoin exchange accounts Post by: Patel on March 27, 2014, 02:46:34 PM http://fiatleak.com/ Fake ! Chinese are buying more cheap BTC now That site shows buys and sells. Probably alot of people selling in China Title: Re: China orders banks to shut Bitcoin exchange accounts Post by: Tonka Branded Truck on March 27, 2014, 02:47:22 PM I feel this is a hoax.
Title: Re: China orders banks to shut Bitcoin exchange accounts Post by: NickPortland on March 27, 2014, 02:50:49 PM So either it's another hoax, rehashed from the old story and people are so stupid as to fall for it
OR China for some impressive coincidence just did what the hoax said they would Either way, weird. Title: Re: China orders banks to shut Bitcoin exchange accounts Post by: Lordoftherigs on March 27, 2014, 02:56:10 PM In case it's not a hoax I wonder what the bottom price could be ?
Title: Re: China orders banks to shut Bitcoin exchange accounts Post by: ~Coinseeker~ on March 27, 2014, 02:58:50 PM When the news service Caixin reported this this morning CoinDesk called it "Unfounded rumors".... Now bloomberg has picked it up, as factual news: http://www.bloomberg.com/news/2014-03-27/pboc-orders-banks-to-shut-bitcoin-exchange-accounts-caixin-says.html If this is true I'd say its a pretty big bummer for the Chinese and a blow to the overall Bitcoin economy, but not a death blow.... Thoughts? They haven't picked it up as factual news, they are simply reporting what Caixin is reporting. That's why it says, "Caixin says" at the end of the title and includes in the first paragraph, "according to a Caixin news report today." This allows them to report on the Caixin report, but can back track if it's false and simply blame Caixin. Title: Re: China orders banks to shut Bitcoin exchange accounts Post by: softron on March 27, 2014, 02:59:39 PM Bad news trying to cause panic selling
Title: Re: China orders banks to shut Bitcoin exchange accounts Post by: S4VV4S on March 27, 2014, 03:01:08 PM It's OK, they are just trying to bring the BTC price down so they can buy more coins cheaper.
Those who know HODL! Title: Re: China orders banks to shut Bitcoin exchange accounts Post by: ljudotina on March 27, 2014, 03:01:16 PM Isnt this news 2-3 days old? Wasnt it dismissed by some china central bank or whatever?
Title: Re: China orders banks to shut Bitcoin exchange accounts Post by: NickPortland on March 27, 2014, 03:01:55 PM Bad news trying to cause panic selling You mean they as in Goldman Sachs? Title: Re: China orders banks to shut Bitcoin exchange accounts Post by: S4VV4S on March 27, 2014, 03:09:09 PM It's OK, they are just trying to bring the BTC price down so they can buy more coins cheaper. Trying? True it has dropped quite a bit but, are you panicking? Title: Re: China orders banks to shut Bitcoin exchange accounts Post by: seriouscoin on March 27, 2014, 03:10:53 PM Gee.... more FUD to buy cheap coins...
Title: Re: China orders banks to shut Bitcoin exchange accounts Post by: windpath on March 27, 2014, 03:14:11 PM Isnt this news 2-3 days old? Wasnt it dismissed by some china central bank or whatever? No this is fresh this morning (or last night in China)Title: Re: China orders banks to shut Bitcoin exchange accounts Post by: S4VV4S on March 27, 2014, 03:14:20 PM Gee.... more FUD to buy cheap coins... ^^^^ EXACTLY!!!! Title: Re: China orders banks to shut Bitcoin exchange accounts Post by: ljudotina on March 27, 2014, 03:16:27 PM Isnt this news 2-3 days old? Wasnt it dismissed by some china central bank or whatever? No this is fresh this morning (or last night in China)So basicly someone reposted old article that was proven to be false? Or is there this time some proof behind it? Title: Re: China orders banks to shut Bitcoin exchange accounts Post by: windpath on March 27, 2014, 03:18:43 PM So basicly someone reposted old article that was proven to be false? Or is there this time some proof behind it? No, they claim its breaking news, here is the original article bloomberg referenced dated today: http://english.caixin.com/2014-03-27/100657518.html Title: Re: China orders banks to shut Bitcoin exchange accounts Post by: ~Coinseeker~ on March 27, 2014, 03:24:28 PM Quote The requirement, which Caixin saw in a document the central bank's headquarters recently sent to regional offices, says money can be taken from the accounts before the deadline, but no deposits can be made. Banks that fail to close the accounts will be punished, the PBOC said, but it did not elaborate on what those punishments would be. Caixin would be taking a big risk lying about seeing this document. I'm gathering Bloomberg feels the same way. It may turn out to be rubbish but it doesn't look good either. Title: Re: China orders banks to shut Bitcoin exchange accounts Post by: windpath on March 27, 2014, 03:25:05 PM True or not, looks like markets coming back up after a ~10% drop on the news... https://www.evernote.com/shard/s91/sh/1884f1bf-40bd-4089-9971-26f072446cb6/2fe6c374c45bf1d444dfd71ef66f315d/deep/0/Bitcoin-Price-Index---Coin-Cadence.png Title: Re: China orders banks to shut Bitcoin exchange accounts Post by: Lordoftherigs on March 27, 2014, 03:29:16 PM how much longer until we will know for sure that this was a hoax ?
Title: Re: China orders banks to shut Bitcoin exchange accounts Post by: MykelSilver on March 27, 2014, 03:31:01 PM I follow this story further on http://www.coindesk.com/bitcoin-price-drops-new-chinese-bank-rumours/
Coindesk seems more serious in comparison to all these rumour news sites Title: Re: China orders banks to shut Bitcoin exchange accounts Post by: Azeh on March 27, 2014, 03:36:18 PM Unfortunately, this is how things happen in China. Everything is presented as rumor to act as a warning before official announcements are released.
First, I feel sorry for the Chinese Bitcoin enthusiasts and I'm sure they will find away around the government meddling. Secondly, Fuck the corrupt Chinese Government. They are doing everything in their power to prevent capital from fleeing the country in the face of an imploding economy as indicated by the increasing number of corporate defaults and the beginning of the end of their real estate bubble. Corruption in China makes the USA look like paradise. Title: Re: China orders banks to shut Bitcoin exchange accounts Post by: Azeh on March 27, 2014, 03:40:08 PM Centralised exchanges need to go the way of the dinosaur in order to prevent these huge panicks and price drops.
Hopefully, the bitcoin community will develop a solution to this problem soon. Decentralised exchanges? Title: Re: China orders banks to shut Bitcoin exchange accounts Post by: Lordoftherigs on March 27, 2014, 03:49:29 PM Centralised exchanges need to go the way of the dinosaur in order to prevent these huge panicks and price drops. Hopefully, the bitcoin community will develop a solution to this problem soon. Decentralised exchanges? Exchanges are certainly happy form all this fuzz, more than 11k BTCs traded in less than hour. Title: Re: China orders banks to shut Bitcoin exchange accounts Post by: ebliever on March 27, 2014, 03:56:44 PM Banks are as relevant to bitcoin as the U.S. Postal Service is to email, and they share pretty much the same relationship. So after the initial reaction to this news, I doubt it will have much long term impact even if true.
Title: Re: China orders banks to shut Bitcoin exchange accounts Post by: C10H15N on March 27, 2014, 04:00:22 PM My educated response: Big F**king Woo! :D
Title: Re: China orders banks to shut Bitcoin exchange accounts Post by: Lauda on March 27, 2014, 04:02:06 PM The opportunity to buy in has arisen.
Title: Re: China orders banks to shut Bitcoin exchange accounts Post by: C10H15N on March 27, 2014, 04:04:32 PM ...and I'm taking advantage of it. :D
Title: Re: China orders banks to shut Bitcoin exchange accounts Post by: Lauda on March 27, 2014, 04:05:57 PM ...and I'm taking advantage of it. :D Then we have a smart buyer here. Title: Re: China orders banks to shut Bitcoin exchange accounts Post by: TTM on March 27, 2014, 04:19:18 PM It remain unclear whether this rumor is correct or not. As far as i know, Caixin is reputable source about finance in China. If it is true, the price might be dropped even much lower, 300 or 400. We'll have to wait for official confirmation/denial from PBOC or commercial banks in China.
In communist or totalitarian states, authorities want to control everything. If there is something they can't control, they'll want to ban or block it. Title: Re: China orders banks to shut Bitcoin exchange accounts Post by: C10H15N on March 27, 2014, 04:23:38 PM Then we have a smart buyer here. "Be fearful when others are greedy and greedy when others are fearful" - Warren Buffett Time to shear the sheep. :D Title: Re: China orders banks to shut Bitcoin exchange accounts Post by: equinox9 on March 27, 2014, 04:28:58 PM Then we have a smart buyer here. "Be fearful when others are greedy and greedy when others are fearful" - Warren Buffett Time to shear the sheep. :D Bitcoin is a moneygram...a mirage - Warren Buffet lol Title: Re: China orders banks to shut Bitcoin exchange accounts Post by: C10H15N on March 27, 2014, 04:31:57 PM Then we have a smart buyer here. "Be fearful when others are greedy and greedy when others are fearful" - Warren Buffett Time to shear the sheep. :D Bitcoin is a moneygram...a mirage - Warren Buffet lol Warren is great with making shitloads of money, but he's terrible with tech! :D Title: Re: China orders banks to shut Bitcoin exchange accounts Post by: TTM on March 27, 2014, 05:25:43 PM http://fiatleak.com/ Fake ! Chinese are buying more cheap BTC now I'm curious how does this site work ? If i'm a Chinese citizen who is buying 10 bitcoin on BTC-e, how do they know ? There is no way exchanges leak my personal information to this fiatleak.com Title: Re: China orders banks to shut Bitcoin exchange accounts Post by: Arghhh on March 27, 2014, 05:32:06 PM How generous of them!
... More hoard for me. Title: Re: China orders banks to shut Bitcoin exchange accounts Post by: mr smith on March 27, 2014, 05:47:10 PM All the bad news from China has been factored in for a long time. I wish they would ban gold imports so i could buy a little on the cheap!!!!!!!!!
Title: Re: China orders banks to shut Bitcoin exchange accounts Post by: bananas on March 27, 2014, 05:52:57 PM Unfortunately, this is how things happen in China. Everything is presented as rumor to act as a warning before official announcements are released. First, I feel sorry for the Chinese Bitcoin enthusiasts and I'm sure they will find away around the government meddling. I don't feel sorry 'cause they are just gamblers, most of Chinese bitcoin traffic comes from Macau. Title: Re: China orders banks to shut Bitcoin exchange accounts Post by: vitarian on March 27, 2014, 09:50:51 PM But this is countered by the GOOD NEWS that the US government is accepting bitcoin as legitimate "property", meaning they WILL indeed allow bitcoin transactions. I would think that the IRS news would trump all the other negative press surrounding bitcoin. Now is the time to BUY BUY BUY!!!
Title: Re: China orders banks to shut Bitcoin exchange accounts Post by: windpath on March 28, 2014, 01:31:39 PM Now is the time to BUY BUY BUY!!! :) UPDATE (28th March, 10:00 GMT): Sources in China have reported since this article appeared that the ‘rumors’ contained in the Caixin story appear to be true, though bitcoin exchanges still have received no official notice from the People’s Bank. The bitcoin price has continued to drop, now sitting just above $500. Title: Re: China orders banks to shut Bitcoin exchange accounts Post by: TTM on March 28, 2014, 02:35:36 PM Now is the time to BUY BUY BUY!!! :) UPDATE (28th March, 10:00 GMT): Sources in China have reported since this article appeared that the ‘rumors’ contained in the Caixin story appear to be true, though bitcoin exchanges still have received no official notice from the People’s Bank. The bitcoin price has continued to drop, now sitting just above $500. There is a rumor on Reddit that the reporter of Caixin article is daughter of vice minister of finance, so it must be true. This ban will cause much more damage than December ban. On December, China forbid all merchants to accept Bitcoin as payment, but traders are still buy and sell normally. However April ban will be different, exchanges now being forbidden from touching banking system, which mean at least 95% of trading volume would be killed. Title: Re: China orders banks to shut Bitcoin exchange accounts Post by: sweetgirl01 on March 28, 2014, 02:42:30 PM Now is the time to BUY BUY BUY!!! :) UPDATE (28th March, 10:00 GMT): Sources in China have reported since this article appeared that the ‘rumors’ contained in the Caixin story appear to be true, though bitcoin exchanges still have received no official notice from the People’s Bank. The bitcoin price has continued to drop, now sitting just above $500. There is a rumor on Reddit that the reporter of Caixin article is daughter of vice minister of finance, so it must be true. This ban will cause much more damage than December ban. On December, China forbid all merchants to accept Bitcoin as payment, but traders are still buy and sell normally. However April ban will be different, exchanges now being forbidden from touching banking system, which mean at least 95% of trading volume would be killed. I live in China, this matter is a rumor, does not have this thing. >:( |
