Bitcoin Forum

http://www.coindesk.com/cryptex-bitcoin-debit-card-works-90-us-atms/

What else can I say  ::) ::) ::) ::) ::) ::) ::) ::) ::)

This article is about Hong Kong, the laws in HK are not the same as the rest of China.


edit-- just read all of it, the debit card is definitely a good development

I saw this yesterday, I think its awesome.

You can bet if they are successful on the UnionPay/Discover platform others will follow...

Here is a survey I put together for sentiment about the China/IRS stuff coming down on the 14th:

https://www.surveymonkey.com/s/3JCCVP7

Up to 283 responses, you can see the current results after you submit, will share all the data after it closes on the 13th ;)

I voted on your survey for 600-700$
Right now I belong to the small majority but something tells me things will change before the 14th.

yeah BTC will go down below 300$

http://s7.directupload.net/images/140408/p3irj3gx.gif (http://www.directupload.net)

This was just a fun experiment, but its interesting to see the data...

So far 5.28% agree with you that it will be between $6-700, meanwhile 6.69% think it will be over $1,000 and 3.17% think under $100. Over half (55.63%) are in the $4-$600 range...

Because the government does not understand Bitcoin, so response is slow. The government is afraid of doing something wrong, so also more conservative.

+1
Yes. and what is wrong with that? China is not out to crush bitcoin, they just are afraid of hurting their economy. Those who know the story of QQ money in China know where they are coming from.

This is a good development. At least the people from mainland China can purchase Bitcoins without much legal hassle, if they are ready to travel to Hong Kong. Let's see what the PBOC is going to do about this.

I doubt any government is going to embrace Bitcoin. It's the people who need to embrace it. We're talking about a currency that entirely bypasses the strict and rigid systems China (and other governments) have setup to control their currency. As individual adoption starts thriving, then the governments will do something to earn tax revenue from it (probably by taxing exchanges heavily).

Point is, don't hold your breath for major government adoption. My only hope is for adoption in developing countries where there is no stable currency. That's what will be most powerful in the long run. Lao and Cambodia both have a population with access to the internet and smartphones, yet their economy is a mix of THB/USD and their local unstable currency.

Hong Kong is not China.  Well, it is, but it isn't.  They have their own government.  They are a special administrative region of China, just like Macau.

Hong Kong is not ChinaHong Kong is not ChinaHong Kong is not ChinaHong Kong is not ChinaHong Kong is not ChinaHong Kong is not ChinaHong Kong is not ChinaHong Kong is not ChinaHong Kong is not ChinaHong Kong is not ChinaHong Kong is not ChinaHong Kong is not ChinaHong Kong is not China

Hong Kong is not China. But Mainland Chinese can travel to Hong Kong and indulge in Bitcoin trading without any restrictions. That is the entire point. There is nothing that the Chinese government can do here.

People from mainland China need a visa to get into HK.... not that it's a hard visa to get but it's not as simple as driving down a few miles to another town.

Yes well China is strange place but you must agree that  they love bitcoin and people of china will figure it out somehow. :-)

Even the people of China don't know wheather the government will ban bitcoin , what we can do is waiting.
and the truth will come out in the wash in 4/15

$hit! I thought that travelling from mainland China to HK was way simpler. Anyway, good for the Hing Kong people.

I followed the link in the article to Cryptex. Unfortunately, Firefox indicated a problem with the certificate of the site.

What does this mean? I don't know. But it would seem odd for a financial site to overlook the certificate authority issues.

Yes well. I hope indeed that 15th of April 2014 will be a day of bitcoin :-) a good day for China crypto market.

OMG!!! I just saw this.

China is no longer hoarding US Dollars!!!11!!

http://www.activistpost.com/2013/11/china-announces-that-it-is-going-to.html


Better throw your worthless dollars away now or you will be left holding the bag, Suckers!

Possibly the certificate just expired this week?

OMG!! Panic sell USD!!! Big dump incoming!!  ::)

the big point in that article is, that like I have suggested before, Chinese money will find its way into BTC if Chinese want it. A ban might even backfire on the government because it will result in black markets that are uncontrollable:

UnionPay has been named in a few tax-dodging schemes in China. Last month Reuters reported that state-backed bank cards, including UnionPay, are used to illegally spirit billions of dollars abroad.

Much of the money ends up in Macau and Hong Kong, where number of ‘merchants’ allow Chinese nationals to make fake purchases in Macau and simply turn over cash in exchange for the ‘purchase’.

This is done to get around China’s strict currency export controls. Authorities in China, Macau and UnionPay officials agree that the practice is widespread and the People’s Bank of China (PBOC) is also aware of the problem

 ;D ;D ;D

China Gov't has been stocking up on BTC behind closed doors for quite some time now.   Just like any government, they like to pass laws and regulations for the masses that they themselves don't follow.   Once they have a large enough holding and feel that they can control BTC, they will back off on their restrictions...

China is hoarding "morning after" pills

I just want to say
Nothing is impossible in China.

As long as there is a planet to ban bitcoin on, China will do it. There's no doubt.