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Title: Does China exactly ban bitcoin? Post by: Nrcewker on August 06, 2014, 09:19:40 AM if it is not, why many exchanges, btchina okcion, had continued to trade in china, and ready to trade in the world.
if it is, why he, Thomas Xie, LakeBTC CEO say “A Ban Should Target Risky Products and Foul Players, Not Bitcoin Itself (http://cointelegraph.com/news/112112/a-ban-should-target-risky-products-and-foul-players-not-bitcoin-itself-lakebtc-ceo-thomas-xie)”? Quote CT: Given China’s restrictive stance on cryptocurrencies, have you faced any pressure from the authorities? Has the ban on third party processors affected your operations? TX: Not at all. The latest official policy was published on December 5 by the five central government agencies including PBOC (People's Bank of China). It's clearly stated that Bitcoin is a type of commodity that people are free to own, buy, and sell. Other than that, everything else is speculation, hearsay or rumors. We are running a legitimate business with all required government paperwork. That being said, there are a number of flash crashes and high-risk products provided by certain local Bitcoin exchanges. If there were a ban, it should be targeting those risky products and the foul players, not Bitcoin itself. The exchanges in question promise 0% fee forever and in the mean time are promoting high-risk businesses such as margin, short trading, and P2P lending without proper risk management. For example, there's an LTC flash crash to 1 CNY from 100 CNY in seconds, thanks to shorting trading in a platform. Also from China, but the view is quite different, how do we judge it? ban or not ban? Title: Re: Does China exactly ban bitcoin? Post by: Ayers on August 06, 2014, 07:03:15 PM i think you can just not buy them on exchange, but i'm not sure
Title: Re: Does China exactly ban bitcoin? Post by: scryptasicminer on August 06, 2014, 07:18:12 PM Stopping all their banking institution from offering services to bitcoin exchange and broker is essentially same as a "soft" ban.
Title: Re: Does China exactly ban bitcoin? Post by: frankh13 on August 07, 2014, 12:16:46 AM if it is not, why many exchanges, btchina okcion, had continued to trade in china, and ready to trade in the world. if it is, why he, Thomas Xie, LakeBTC CEO say “A Ban Should Target Risky Products and Foul Players, Not Bitcoin Itself (http://cointelegraph.com/news/112112/a-ban-should-target-risky-products-and-foul-players-not-bitcoin-itself-lakebtc-ceo-thomas-xie)”? Quote CT: Given China’s restrictive stance on cryptocurrencies, have you faced any pressure from the authorities? Has the ban on third party processors affected your operations? TX: Not at all. The latest official policy was published on December 5 by the five central government agencies including PBOC (People's Bank of China). It's clearly stated that Bitcoin is a type of commodity that people are free to own, buy, and sell. Other than that, everything else is speculation, hearsay or rumors. We are running a legitimate business with all required government paperwork. That being said, there are a number of flash crashes and high-risk products provided by certain local Bitcoin exchanges. If there were a ban, it should be targeting those risky products and the foul players, not Bitcoin itself. The exchanges in question promise 0% fee forever and in the mean time are promoting high-risk businesses such as margin, short trading, and P2P lending without proper risk management. For example, there's an LTC flash crash to 1 CNY from 100 CNY in seconds, thanks to shorting trading in a platform. Also from China, but the view is quite different, how do we judge it? ban or not ban? Do you read about Chines physical btc coin?? NO, i don't think, that it's possible. They can't ban btc. Title: Re: Does China exactly ban bitcoin? Post by: sandykho47 on August 07, 2014, 12:03:27 PM i think no, maybe they just warn all people to not use btc ???
if remember right, anything happen with your BTC. police won't help Title: Re: Does China exactly ban bitcoin? Post by: Datcracktho on August 07, 2014, 03:09:41 PM Chinese is hard on BTC, banning means nothing.
Title: Re: Does China exactly ban bitcoin? Post by: botany on August 07, 2014, 06:21:00 PM They just made life difficult for bitcoin companies.
Title: Re: Does China exactly ban bitcoin? Post by: lucaspm98 on August 07, 2014, 09:01:43 PM They just made life difficult for bitcoin companies. This. It makes it more difficult, but with decentralized things like Bitcoin it will be impossible to totally 'ban' it. That's the beauty of Bitcoin.Title: Re: Does China exactly ban bitcoin? Post by: TheButterZone on August 07, 2014, 10:04:54 PM No summary executions? No ban.
Title: Re: Does China exactly ban bitcoin? Post by: LiteCoinUser84 on August 08, 2014, 02:29:45 AM I am in Shanghai and Id say our government is more cautious than anything else. I mean access to this forum is quite liberal given we have trouble accessing YT FB and other places where open discussions can exist
Title: Re: Does China exactly ban bitcoin? Post by: hua_hui on August 08, 2014, 02:52:55 AM They don't mean to ban BTC. They ban third party transferring processing channels and touch BTC of financial institutions. The gov is against crazy speculation. The activities in exchange is carrying on, deposit, withdrawal,trading etc.
Title: Re: Does China exactly ban bitcoin? Post by: best-miner.com on August 08, 2014, 03:00:28 AM Until now, Chinese goverment is not banned bitcoin extrange website, like okcoin and huobi and btcchina and chinabtc.
All these website is working well, and i think is more convenient than btc-e and bitstamp. people here in China could buy bitcoin in 1 minute and sell bitcoin in 1 minute and get the Really mony in about 24 hours(mostly in 2-3 hours). As Chinese stock market is week since 2008, so some geeks investage BTC, its convinent make here became the largest bitcoin extrange market in the World. We hate bad news from Chinese goverment too, but at least news since this year not destroy the market here, even make people more confident as the most bad news seems gone, then what we need to afraid. Title: Re: Does China exactly ban bitcoin? Post by: Jamacn on August 08, 2014, 04:16:10 AM They don't mean to ban BTC. They ban third party transferring processing channels and touch BTC of financial institutions. The gov is against crazy speculation. The activities in exchange is carrying on, deposit, withdrawal,trading etc. But more speculative products being released by huobi and okcoinTitle: Re: Does China exactly ban bitcoin? Post by: snowdropfore on August 08, 2014, 06:29:38 AM of course not，i can still buy and sell easily.
Title: Re: Does China exactly ban bitcoin? Post by: jaberwock on August 08, 2014, 06:36:28 AM No, they just put lots of restriction about moving fiat and bitcoin and forbid it to be used like a currency.
Only country to really ban bitcoin is Ecuador. Title: Re: Does China exactly ban bitcoin? Post by: Radelderth on August 08, 2014, 01:56:29 PM Yes china ban bitcoin but the exchange site can easily move their company to hong kong...
Title: Re: Does China exactly ban bitcoin? Post by: zolace on August 08, 2014, 02:15:39 PM I do trade with a chinese bitcoin trader now, he uses western union and other types of excahing services that lets him get bitcoin for yuan.
Title: Re: Does China exactly ban bitcoin? Post by: botany on August 08, 2014, 03:32:23 PM I do trade with a chinese bitcoin trader now, he uses western union and other types of excahing services that lets him get bitcoin for yuan. Won't the fees really kill his margins? Title: Re: Does China exactly ban bitcoin? Post by: oceans on August 09, 2014, 04:19:11 PM I don't believe it is banned to be honest I believe there are just a lot of restrictions on bitcoins in China. I know a few people myself who are from China who exchange bitcoins, I don't see them being as brave if there was a total ban however I could be wrong.
Title: Re: Does China exactly ban bitcoin? Post by: michaelwang33 on August 09, 2014, 04:50:31 PM Stopping all their banking institution from offering services to bitcoin exchange and broker is essentially same as a "soft" ban. This is essentially what China has done to bitcoin. It would he nearly impossible to ban bitcoin trade because of TOR and because BTC nodes are coming online and going offline all the time and it would be nearly impossible to keep an up to date list of them all. Title: Re: Does China exactly ban bitcoin? Post by: Omikifuse on August 09, 2014, 06:10:06 PM Stopping all their banking institution from offering services to bitcoin exchange and broker is essentially same as a "soft" ban. This is essentially what China has done to bitcoin. It would he nearly impossible to ban bitcoin trade because of TOR and because BTC nodes are coming online and going offline all the time and it would be nearly impossible to keep an up to date list of them all. Would be possible forbid all bitcoin related business, and make all cryptos passible with immediate confiscation, and make all money made with cryptos illegal money. This is not close to happens in China Title: Re: Does China exactly ban bitcoin? Post by: efreeti on August 10, 2014, 12:25:36 AM The banning on banks to service exchange can't last long.
Most high end ASIC miners are now being produced in China, If bitcoin does well, this will benefit the country directly. Title: Re: Does China exactly ban bitcoin? Post by: l3sny on August 10, 2014, 07:29:02 PM keep us posted with the nut bust ;)
Yea China is big in mining. I do not think any ASIC manufacturer can make their chips competitive no matter if it is 20nm or less. China will produce it in older technology and sell it for pennies. Title: Re: Does China exactly ban bitcoin? Post by: titulng on August 11, 2014, 05:00:57 AM I don't believe it is banned to be honest I believe there are just a lot of restrictions on bitcoins in China. I know a few people myself who are from China who exchange bitcoins, I don't see them being as brave if there was a total ban however I could be wrong. Pretty sure that there is no ban, but it would ban the shady trade and fake volume for some china exchangesTitle: Re: Does China exactly ban bitcoin? Post by: xdominating on August 11, 2014, 08:55:36 AM just the other man on china who want's to monoply their country.
may be we could be the threat for him.. who knows :-\ Title: Re: Does China exactly ban bitcoin? Post by: l3sny on August 11, 2014, 09:08:17 AM I am just wondering what exactly is banned in China? Funding exchanges with fiat for sure. Is selling goods for BTC illegal?
Title: Re: Does China exactly ban bitcoin? Post by: tatu on August 11, 2014, 12:32:55 PM I am just wondering what exactly is banned in China? Funding exchanges with fiat for sure. Is selling goods for BTC illegal? I don't think it is, I just think exchnages are heavily restricted. China has massive mining operations there so it's obviously not banned. Title: Re: Does China exactly ban bitcoin? Post by: bounst on August 12, 2014, 06:19:57 AM I am just wondering what exactly is banned in China? Funding exchanges with fiat for sure. Is selling goods for BTC illegal? bitcoin is defined as a commodity by China gov. Title: Re: Does China exactly ban bitcoin? Post by: HashFarmer on August 12, 2014, 09:52:00 AM China banned everything that related to bitcoin but not bitcoin...
Title: Re: Does China exactly ban bitcoin? Post by: viboracecata on August 12, 2014, 09:57:42 AM At least, in BeiJing and ShangHai, you can buy bitcoin with cash, though it's very inconvenient
Title: Re: Does China exactly ban bitcoin? Post by: nicojuritz on August 12, 2014, 10:31:25 AM There are just restrictions on Fiat but no ban on BitCoin.
Title: Re: Does China exactly ban bitcoin? Post by: l3sny on August 12, 2014, 11:54:12 AM Can I open a webstie in China and sell goods for BTC then? I doubt.
Title: Re: Does China exactly ban bitcoin? Post by: donguan on August 12, 2014, 06:01:48 PM China banned everything that related to bitcoin but not bitcoin... what does it mean? it is not only problems with exchanges?Title: Re: Does China exactly ban bitcoin? Post by: FreedomCoin on August 12, 2014, 09:00:51 PM i believe the banning of something bitcoin related in China caused the crash in January of this year.
Alot of chinese were pumping the price of BTC back in Nov-Dec, and then the rug was pulled out from under the Chinese in Jan causing volume to drop and the price to crash. Title: Re: Does China exactly ban bitcoin? Post by: Mobius on August 13, 2014, 05:09:04 AM Stopping all their banking institution from offering services to bitcoin exchange and broker is essentially same as a "soft" ban. This is essentially what China has done to bitcoin. It would he nearly impossible to ban bitcoin trade because of TOR and because BTC nodes are coming online and going offline all the time and it would be nearly impossible to keep an up to date list of them all. Would be possible forbid all bitcoin related business, and make all cryptos passible with immediate confiscation, and make all money made with cryptos illegal money. This is not close to happens in China Title: Re: Does China exactly ban bitcoin? Post by: keithers on August 13, 2014, 06:19:19 AM It has been extremely quiet out of China for quite some time now. They used to be front page crypto news every day a few months back
Title: Re: Does China exactly ban bitcoin? Post by: frankh13 on August 13, 2014, 10:24:34 AM At least, in BeiJing and ShangHai, you can buy bitcoin with cash, though it's very inconvenient All are using exchanges of btc for buying btc with cash. :o Title: Re: Does China exactly ban bitcoin? Post by: FreedomCoin on August 13, 2014, 03:00:38 PM At least, in BeiJing and ShangHai, you can buy bitcoin with cash, though it's very inconvenient All are using exchanges of btc for buying btc with cash. :o How do they do that? Title: Re: Does China exactly ban bitcoin? Post by: Bitbirdhunt on August 29, 2014, 08:00:03 PM if it is not, why many exchanges, btchina okcion, had continued to trade in china, and ready to trade in the world. I think it's not quite easy to ban bitcoin completely from the country.They might have banned the buying/selling and exchanges of bitcoin throughout their nationality.But I am sure that would't stop the trade eitherif it is, why he, Thomas Xie, LakeBTC CEO say “A Ban Should Target Risky Products and Foul Players, Not Bitcoin Itself (http://cointelegraph.com/news/112112/a-ban-should-target-risky-products-and-foul-players-not-bitcoin-itself-lakebtc-ceo-thomas-xie)”? Quote CT: Given China’s restrictive stance on cryptocurrencies, have you faced any pressure from the authorities? Has the ban on third party processors affected your operations? TX: Not at all. The latest official policy was published on December 5 by the five central government agencies including PBOC (People's Bank of China). It's clearly stated that Bitcoin is a type of commodity that people are free to own, buy, and sell. Other than that, everything else is speculation, hearsay or rumors. We are running a legitimate business with all required government paperwork. That being said, there are a number of flash crashes and high-risk products provided by certain local Bitcoin exchanges. If there were a ban, it should be targeting those risky products and the foul players, not Bitcoin itself. The exchanges in question promise 0% fee forever and in the mean time are promoting high-risk businesses such as margin, short trading, and P2P lending without proper risk management. For example, there's an LTC flash crash to 1 CNY from 100 CNY in seconds, thanks to shorting trading in a platform. Also from China, but the view is quite different, how do we judge it? ban or not ban? Title: Re: Does China exactly ban bitcoin? Post by: DhaniBoy on August 30, 2014, 07:58:55 AM Bitcoin is kind cryptocurrency, bitcoin is used for transactions on the Internet such as purchasing goods, or sell something, if china forbids its citizens to use the internet, then it implies that bitcoin was banned from use in china ...
maybe china government may be able to reconsider the ban on the use of the Internet for its citizens, hopefully ... :P Title: Re: Does China exactly ban bitcoin? Post by: l3sny on August 30, 2014, 08:43:30 AM We can only speculate while this guy knows the things from inside.
The most recent interview with Bobby Lee http://bitcoinmagazine.com/15906/interview-bobby-lee-ceo-btc-china/ Title: Re: Does China exactly ban bitcoin? Post by: milazi on August 30, 2014, 12:33:07 PM Can I open a webstie in China and sell goods for BTC then? I doubt. Certainly you can no doubt itTitle: Re: Does China exactly ban bitcoin? Post by: wildcardstar on September 02, 2014, 08:33:36 AM Actually,China gov attitude towards BTC is quite neutural.
Title: Re: Does China exactly ban bitcoin? Post by: BitCoinNutJob on September 02, 2014, 09:00:18 AM China just state it shouldnt be considered legitimate money for trade vs their fiat system. They offer no logical reason why... it just shouldnt. Kinda like religion you just have to have faith. Title: Re: Does China exactly ban bitcoin? Post by: refreshingfall on September 02, 2014, 09:41:43 AM partially banned in China.
Title: Re: Does China exactly ban bitcoin? Post by: fa on September 02, 2014, 11:57:21 AM Chinese gov does not want to ban btc. Chinese banks do.
Title: Re: Does China exactly ban bitcoin? Post by: refreshingfall on September 02, 2014, 12:12:00 PM The worst thing in China is that it is forbidden to use BTC as payment tool,which has greatly limited its use.
Title: Re: Does China exactly ban bitcoin? Post by: fredthegambler on September 02, 2014, 01:34:58 PM It will be banned as soon as bitcoin poses as a threat to their currency. It will be banned for sure.
Title: Re: Does China exactly ban bitcoin? Post by: Febo on September 02, 2014, 06:40:12 PM I think soon China will adopt BTC and dump all their CYN.
The worst thing in China is that it is forbidden to use BTC as payment tool,which has greatly limited its use. lol so what? in my country BTC is not listed as money, so that just made it is not taxable. i am sure will not stay that way for long, since governments love taxes. lets enjoy it while it lasts. :) Title: Re: Does China exactly ban bitcoin? Post by: GangkisKhan on September 02, 2014, 07:05:30 PM Houbi, Okcoin and BTChina still operating.
Guess China didn't totally banned bitcoin. Title: Re: Does China exactly ban bitcoin? Post by: refreshingfall on September 03, 2014, 12:05:39 PM China goverment wants to ban,but in fact ,it can't .
Title: Re: Does China exactly ban bitcoin? Post by: Febo on September 03, 2014, 12:19:25 PM China goverment wants to ban,but in fact ,it can't . No government cant and as soon as they will realize that better for them. Title: Re: Does China exactly ban bitcoin? Post by: LitecoinBoss on September 05, 2014, 01:18:06 PM They banned twitter, they banned fb.. Its not impossible that they banned bitcoin...
Title: Re: Does China exactly ban bitcoin? Post by: flyingcatt on September 05, 2014, 06:16:58 PM They banned twitter, they banned fb.. Its not impossible that they banned bitcoin... Well, they can't. Its open source and they can't ban the conections in your computer coming to the bitcoin qt app. You can go to another country then download your wallet and use your btc in other non shitty country. Title: Re: Does China exactly ban bitcoin? Post by: giveBTCpls on September 06, 2014, 10:22:34 PM You can only "BAN" bitcoin at the level of not allowing you to cash out on FIAT gov rigged currencies. AKA, the way to fight this is with merchant adoption. More and more and more merchants accepting BTC. THEN you can buy with BTC directly, without FIAT, and gov can do shit nothing about it.
Title: Re: Does China exactly ban bitcoin? Post by: FortuneJack on September 07, 2014, 07:17:01 AM Is this forum banned in China?
Title: Re: Does China exactly ban bitcoin? Post by: Rogue_Transmission on September 07, 2014, 08:07:02 AM News about China and bitcoin are very interesting for me because it's the main thing which can make a price higher
Title: Re: Does China exactly ban bitcoin? Post by: Bitzkrieg on September 08, 2014, 12:17:10 PM They ban everything not china made. lol
Title: Re: Does China exactly ban bitcoin? Post by: mllenios on September 09, 2014, 05:18:09 AM They ban everything not china made. lol What will they get if they ban bitcoin? Title: Re: Does China exactly ban bitcoin? Post by: Champ92 on September 09, 2014, 03:07:47 PM Its either they hate em or theyll love em.. But as of today, ive had a lot of chinese visitors in my site.
Title: Re: Does China exactly ban bitcoin? Post by: realbtcdealers4real on September 09, 2014, 03:45:14 PM They dont do shit, they just scare people away so they can buy more cheap BTC
Title: Re: Does China exactly ban bitcoin? Post by: l3sny on September 14, 2014, 06:49:12 AM Agree. China's government is actually on our side ;)
Title: Re: Does China exactly ban bitcoin? Post by: foxkyu on September 14, 2014, 02:23:49 PM they want do but they can't do that
as long as bitcoin doesn't effect with china economy i think it should be fine Title: Re: Does China exactly ban bitcoin? Post by: misscointamer on September 17, 2014, 11:25:08 AM If China bans BTC, they will make another altcoin for sure.
Title: Re: Does China exactly ban bitcoin? Post by: Stockhome on October 01, 2014, 02:42:46 PM China will not ban bitcoin. China will find a way to immitate bitcoin and then ban it after they can make their own.
Title: Re: Does China exactly ban bitcoin? Post by: l3sny on October 02, 2014, 07:53:32 PM they can't do this. If they could they would ;)
Title: Re: Does China exactly ban bitcoin? Post by: pereira4 on November 05, 2014, 03:50:39 PM they can't do this. If they could they would ;) They can stop any exchange from converting BTC into CNY...And they probably can stop stuff bought directly with BTC (without converting first) by inspecting every sent package. This may seem crazy but in China im sure they can get away with it. Title: Re: Does China exactly ban bitcoin? Post by: Piston Honda on November 05, 2014, 08:40:30 PM Even if they do ban it, people will still use it. If anything it may INCREASE use as they ban it...given we know how society (and history) works.
Embracing it would maybe work out better for the country...but commies won't do that. |