Bitcoin Forum

Names are not important, what I can tell you is that I am only one person and a nobody per say.  I have helped educate and facilitate moving $20 million out of china via the Bitcoin protocol.

Do you really think China is going to allow this to happen when per capita controls were $40,000 per year.  hahahah.  My buy orders have been set for $530 - $450 for months.  China will soon flip the switch, they will seize Huobi, the Lee brothers will vanish and all of those coins will be owned by teh Chinese Government effectively removing supply.

I expect the price to continue forward with the Chinese Government as a 25% partner in BTC hehe ;)

Come on guys this is a communist regime and Coindesk parades OkCoin and Huobi as if they were credible reliable institutions.  Sad, fault is on coindesk as well for being so naive.  But in their defense I doubt they have much understanding of geo-politics.

BTC must operate in free societies, it can operate in the shadows in others with out doubt but not in the public eye hehehe.  You are about to witness the flip of the switch real soon.

You don't understand how Bitcoin works. There are always countermeasures against seizure.

 ::)

Sorry my friend I KNOW EXACTLY how China works hehe and I have been dealing with helping people get their money out of China for a long time.  Why do you think BTC is popular there!?!?!?!  

It has been funny for me to watch.  It is simply a matter of time when they figure out billions are being shipped out via BTC.  The problem is liquidity isn't enough in the outside World to manage the sales to prospective buyers....that is why the price of BTC increased so much.  It was China but they could not find enough buyers in the outside World to match their demand.

Sorry bud but the Lee brothers will simply vanish and I will laugh my head off again.

I do not think BTC will end.  I think BTC price will sky rocket later this year as 25% of supply is controlled by the Chinese authorities who seize $2B worth of coins.  That means opportunity to me.  All good with me.

I would certainly assume that bitcoin is used quite a bit in China as a means for citizens (or government officials)  to funnel savings outside of China.

And yes if that becomes a big thing I would expect the government in China to try to clamp down on it.

Time will tell..


If the government clamped down harder on Bitcoin it could kill its potential of ever going mainstream in China I would think.  But it certainly wouldn't stop peoples desire to move their money out of China,  that's something a lot of people want, try, and do in China if they have money.  So bitcoin would just move to the black market and flourish there,  with a lot more crimes/theft/fraud  as a result.

We might be coming up on good time to get a great deal on a new set of kidneys!

mdr

$20 million didn't leave China. $20 million worth of bitcoins left China. If the Chinese government does eventually come down hard on the exchanges bitcoins will still continue to enter and leave and China, the only difference being how people acquire them i.e. sell stuff, trade in person etc

I never considered China a market for bitcoin, i consider a bitcoin traded under any leftist totalitarian nation of 0 value.

Two things I find 'interesting' in OP:

- OP 'knows' that 'the Lee brothers will vanish'. OP - what do you mean by vanish?

- OP 'knows' upcoming plans of the Chinese government. OP - how do you come by this knowledge?

I read the rumor/announcement, and it essentially says that the Chinese government will forbid trading of BTC using Chinese banks, however trading is not forbidden using foreign banks and exchanges.   

How hard is it for the average Chinese citizen to transfer Yaun to a foreign bank account?

Finance system of China has strict rules. I heard that a foreigner is permitted to transfer only $500 out of the country per day, for Chinese it is 50k per year. That's why some rich Chinese find Bitcoin as perfect way to move their money out of the country. If the rumour about China forbid its bank to work with exchange turn to be true, we'll have no more buy order on China, Bitcoin price will be crashing hard.

If they don't pay their taxes correctly it is impossible.
If they don't speak english it is unlikely.

And most important, they have barriers over sending money oveseas. They are not free to do it.

The Chinese control all forms of information that flows in/out of the country.  What makes you believe that they don't already know that Bitcoin is being used to funnel money out?  They have to know.  The question is, why haven't they acted on it already?  

So a government clampdown makes sense, if they are trying to prevent this loophole.   Any hope of the Chinese government easing currency restrictions anytime soon?   

Also, who holds all the USD in the country due to the US/China trade imbalance?

He doesn't - its his prediction.  It not worth much as Chinese have been using commodities to do the same and other shadow banking for years and the authorities do nothing about it. 

I don't know if I can trust anyone who writes 'hehe' in their predictions.

OP is from either of the following countries...

1. India
2. Pakistan
3. Bangladesh
4. Srilanka
5. Nepal
6. Bhutan


These country people mainly use the term 'hehe' instead of 'LoLz' ;)

OP. I hope for your sake you are not openly advertising a money laundering service.

hehe and haha and their translations are  the usual worldwide, except in uk and usa

Or hes 12 years old

loled.

That's because smart people who are holding large amounts are careful not to divulge this information to the public.

if China really wanted to ...why not just do it without the warning?  seems it would make more sense for them.....catch more coins

The first post is clearly written by a German fella who was raised in North America I mean isn't it obvious?  I do appreciate the interesting plot suggested to be thickening int the OP.  Just not gonna hold my breath while it potentially unfolds

Is this spam? What OP said he/she is doing seems illegal and I don't think anybody is stupid enough to say it in public, right? Maybe not. Although I agree the Chinese government will take certain actions on Bitcoin but it would seem like they're 'throwing away' what the country's economy can bloom on. Just look at the number of Bitcoin related companies opening up in the eastern world

This has been visible for a while, most likely the funds will pop up in Australia or Canada, just out of curiosity, the parties that create the scare news and the bans, are they corrupt or faithful to the people?

Ancient Chinese secret eh???

China and  Russia prohibit, Usa and Europe make tax on btc: BTC make fear at dictator bank(bce, federal reserve, central bank of china, central bank of russia, fmi, esm)

Or even they want to do business!

China playing with crypto is like watching a 3 year old messing with a hand grenade. 10 Hand grenades.

How many times were they running around like headless chickens trying to make sense of how they will 'control' crypto? :)

Who is manipulating and controlling whom? Only time will tell. One thing's for sure. Crypto ain't chinese invention 8)

I don't know what Russia has banned BTC but China indeed prohibited it Chinese might fear that BTC will affect their currency

All 97 millions of them or only Charlie and Bobby?

Hehe, right....

$20 million didn't leave China. $20 million worth of bitcoins left China. If the Chinese government does eventually come down hard on the exchanges bitcoins will still continue to enter and leave and China, the only difference being how people acquire them i.e. sell stuff, trade in person.  Exactly!!!

Another doom spreading newbie :D Someone is in a trolling mood hehe :D

Its inevitable guy, just a function of common sense.  The great thing is I believe the price will head higher because of it.  If China seizes the exchanges that is.  It has been a very profitable system for quite some time and there are places to move and sell the bitcoins with out tax.  There is no laundering here, simply providing a service for people who wish to invest abroad.  The investments they make still have to be scrutinized with proper ID etc and lawyers.  Most of these people already have investments abroad and are obviously wealthy - it is still just as difficult for them to get money out of China.  It just so happens I assist them to buy real estate.  I completely believe the good times will come to an end soon hehe (from the old BBS days).  However I am working in Bangladesh now, another incredible opportunity.  I have a few clients from there who are uber-wealthy.  There is absolute poverty and there is absolute wealthy there.  The disparity is shocking.  We are setting up the proper infrastructure to be able to move money out of there now (BTC is banned) but it requires some infrastructure, the volumes are too low.  Call me Lord of BTC.

LMAO

You are right on the money here! Much the same as McDonalds has to operate, by not sending out cash, but by buying Chinese product and sending that product to another location.  Eg to send $10M in profits from China, you can buy $10M in potato's and send those to your Singapore locations.  These controls have been lessened considerably but they are still there.  We are shipping potato's at a fraction of the cost of the underworld.

Again, it astounds me that news out of China is even news or moves the price of BTC at all.  Anyone with half a brain knows BTC will is completely useless in China and its price is $0, I expect a full out onslaught of miners and the technology as a whole there.

That would be wonderful and exemplify the significance of the protocol as a whole, got those little China-men in their leadership positions shaking in their boots.  If the people were just slightly empowered it'd be a civil war with a billion people - the current leaders would be quartered and placed into BBQ pork buns! ;)

Well they had that tune on repeat for about a 150 years on and off up until the final Communist takeover in the 50s. It's just possible that they are still sick enough of war that there would be no enthusiasm for it, no matter how tyrannical the leadership gets.