Bitcoin Forum

The china ban has now morphed into a bullish signal

the reason being that now that you cant cash out there will be a premium paid to get hold of the hard currency BITCOIN

Moving forward the tighter the controls the more they will be worth in china

its the same in india that you get ~ 10-15% above spot

So bring on teh FUD  8)

I think any new news coming out of China is now meaningless to btc price swings.
The only major story I would expect to move the charts would be if China announces they are dropping the yuan for bitcoin as the national currency.  :o

Aghreed ..people have now calmed down to teh fear factor and will have a frame of mind to think of the implications

this will bring them to the realization to BUY :D

Weak hands get shaked out on the first "ban", and some stronger but still weak hands shaked out on second "ban"... Now the rest of the weak hands do not impact the price on the third "ban" and the fourth and so on...

And what I have learned from BTC, everything on BTC works just twice. Then things change or whales change their tactics...

Really they only work once after discovering them. Then the Borg adapt.

Well, I'm definitely a very strong hand then  ;D

I think China's wariness of Bitcoin is bullish in the sense that it means that one of the most powerful countries in the world is worried about this open source software project. They see its potential appeal.

I think it is also bullish that they have not banned it outright. (they say they cant, but they can 'ban' it just like a drug) if they understood the threat it is to them from the beginning they would not have wasted any time. It also seems that insiders are front running the news - they may have invested interest (very bullish)
with plans to open exchanges in the USA, I think the PBOC will change their policy, having said to follow their lead.

Deacon Frost:
"I'll tell you what Bitcoin is, sister! It's the top of the f'n food chain. The Bitcoin blood god's coming and after tonight, your other forms of currency are f'n history. He's a hurricane. An act of God. Anyone caught in his path will instantly be turned. Every other currency you've ever known... every other currency you've ever f'n loved... it won't matter who's pureblood crypto and who's not. How you gonna cure the whole f'n world? Hm? And Bitcoin's protocol is the key. "
 ;D

Some interesting commentary from an unrelated topic on the Securities sub-board:

https://bitcointalk.org/index.php?topic=99497.msg6465166#msg6465166


This was written by a representative of the ASICminer company. Make of it what you will/can (as it's not entirely unambiguous)

Yes! This information is 100% confirmed!

 ::)

I agree with the OP as far as long bullishness. The smell of fear from China even cuts through their smog filled skies. Apparently bulls have a better sense of smell than bears.

China bans are lowering less and less the market.  Soon will have no effect and the chinas will have to create another instant dropper of price

China is buying bitcoin as much as they can and announce unban of bitcoin... 10x price overnight.

Who exactly is buying in China, can the average person still buy?

This is so true ! I panic sold in December when I was a n00b, only to see it rise and regret it deeply. Then I almost panic sold again on the 2nd ban but somehow managed to wait and move on.

Now on the 3rd and 4th ban....I just don't care anymore really.

Always was...

The fact they addressed Bitcoin is bullish.

Of course the ban was bullish news ::)

I like what the ban has done I'm very happy with the price at the moment and if went up I'd still be happy because it feels low to me.

how many times has China banned bitcoin? seems like 5 or 6 times now to me.  If they banned it, then why do they keep talking about it?

Despite all the talk about China & despite having asked several times what the position is for the ordinary Chinese investor, I still don't know if they can buy bitcoin easily or not! Can anyone elucidate?

Yes, as of now, I can still buy bitcoin very easily with my hard-earned RMB. In all this time, this hasn't changed at all. However, this might finally change in the near future.

You guys are silly to think that the effect of a dead market is going to be greater than the effect of a live market with a consistent cash flow of new fiat in.

The amount of ignorance about finance and markets here is astonishing. I'm glad you guys don't actually manage anything important.

Glad to hear that. I mean that you can buy it, not that that might change in the future :)

Yay more chinese FuD ..drops the price by 2%

Wow ... FXBT as you saw stated "Due to losses" so they where not making any $$ to begin with ...lolz

More chinese need to focus on what they do best "Special Fried chikun" 

ALso this news makes me want to burst into song

"Another one bites the dust....another one down another one down another one bites the dust "

Obviously the chinese have no idea

Bring on Gox 2.0 :D

How do you know exactly what is causing each price movement? The market is collection of buyers and sellers. Are you inside everyone's head?

Its a mystery ..yes

but

1) China anounces more FUD
2) price movement

With the evidence outlined a correlation can be made :P

I am waiting for gas stations to accept BTC.

That would be a windfall.

I heard a rumor that China will unban the banned ban on bitcoin bans in China.

fun fact: the word "ban" was not once used in a PBOC notice.

Obviously, everything has to be good news for bitcoin.
We are going to go from one good news to another until "to da moon".
Everybody knows that repeating something many times makes it true :)

But it has been used numerously in bitcointalk, reddit, etc. :P

Please keep in mind barter is not banned in China. No one is stopping you from bartering your goods for bitcoins in China. There's no proof is that the merchants that have stopped accepting bitcoins have said that they are not sure if merchants can or can not accept bitcoins.

AGreed I know for a fact that you can still purchase "Specila Fried Chikun" with Litecoin ...they even offer free delivery :D

Because ultimately they DON'T want to ban bitcoin. They just want to manipulate the market to buy a bunch of cheap bitcoins at $100-$200 each, then they will stop playing their silly ban/unban game.

https://twitter.com/barrysilbert/status/464059598492925952

Times have changed:

You cannot harm a Bull with a China bear anymore.
They are so cute.  :D
http://images.china.cn/images1/200711/412364.jpg

http://media.heavy.com/media/2012/10/panda-edit.jpg

Thank you lord that the Chinese squirrels are out of the game.

AGreed

Bye  Bye  china....really do not give a flying special fried rice about you and your pump & dumps everyday @ 3 pm

Yep yep, YipYip says "China Bye Bye"  :D
Seriously:
This is May 16th and I haven't been paying attention to China. The May 10th "deadline" was almost a week ago.
What is the update on China, if any?
Are people able to deposit into the exchanges?
Either way it's time to move on... 

http://www.coindesk.com/china-moves-disrupt-access-major-bitcoin-websites/

Official ..."We not ban.... its all sugar & spice"
Un-Offical ..."SHUT THEM DOWN NOW " ...lolz

Chinese True colors are showing ...thank god we dont live over there ...

Also AGreed ..China is done RIP :D

Don't pretend like there won't be any action if the exchanges are actually shut down.

People write (lets call it) controversial things really hoping their post will influence the price. That is very amusing to me.
Anyway, I doubt the chinese government will do much more until the price starts rising fast again. If they were prepared to close the exchanges without a change of circumstances, they would already done that.

Lets all grab our hands and chant TO DA MOON!

CHOO CHOO! CCMF! WE ARE TAKING OFF! TO INFINITY AND BEYOND!