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for once im a little bit faster than yomofo!
no options available for fiat deposits for BTCChina. waiting for Huobi's statement..
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http://www.weibo.com/2149945883/B1wQbdDTM?mod=weibotimeSince China Merchants Bank recently issued a notice, Bitcoin Chinese capital security considerations for users and platform stability operations, decided to suspend the account of RMB CMB recharge. Subsequent updates, stay tuned to our official website and microblogging, Thanks again for your BTCChina's concern and support bulletin Fiat deposit completely frozen for BTCChina now*
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Shut up.
Can't agree more. I check out the speculation forum for anything interesting, and all I ever see is one of these retards talking about China every other week. The new rule for every time something is posted about China should be for the op to be committed to a mental institution, since there is clearly something wrong with the mental processes of these people. forwarding news = being retarded let me guess you're a permabull who doesnt want to face the truth why is btc even worth more than $200 now? one word: china! theres a reason why western price is coupled with huobi. china is too important for btc. I don't care, I've made money every time asshats like you talk about China. It is probably my only saving grace when to comes to my bitcoin decisions. It is getting out of control though that people like you sit there with diarrhea of the mouth, trying to scam people out of their bitcoins every other day. I face the truth every day, and have had very little faith in bitcoin for a while now. I'll have some faith again when I don't see market crashes every time someone post about China. Weird. If you seriously think my word on the speculation forum has any effect on the market book, you're delusional. I'm just reporting the news, that's all. In no way am I trying to "scam" people out of their btcs, lol In fact im probably more morally correct than those permabulls who spam "to da moon", "last chance to hop on the train" everytime theres a little spike on huobi even if were in a long term down trend in a market with no new capital flow etc |
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Shut up.
Can't agree more. I check out the speculation forum for anything interesting, and all I ever see is one of these retards talking about China every other week. The new rule for every time something is posted about China should be for the op to be committed to a mental institution, since there is clearly something wrong with the mental processes of these people. forwarding news = being retarded let me guess you're a permabull who doesnt want to face the truth why is btc even worth more than $200 now? one word: china! theres a reason why western price is coupled with huobi. china is too important for btc. |
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In 2014-3-30, the exponential trendline model gave a buy signal at $460 and the price has been unable to go below it for any extended time even after 4 weeks.
In 2013-11-23 it gave a sell signal at $872 (SlipperySlope's 0.40 confidence) or 2013-11-28 at $1,056 (my 0.45 confidence). It was also unable to stay above it for any extended time.
What odds do you want? As I would be betting to win less valuable coin, you shouldn't get much better than 50%. I think you will offer an unreasonable bet so that you don't have to make one at all. But let me know. Unreasonable? It's $30 to the trigger line (was $20 when I first called it). Are you willing to give 1:1 odds to me that price will hit $495 some point in the future? Of course not, you would not take that even at 10:1. So don't expect the same of me. Lol. You didn't even make an offer. Why am I not surprised? Since you are too chicken s***  to make a bet, here's one for you. Bet 100 btc Duration 30 days If we hit 435 on Stamp and don't hit 500 I win. If we hit 500 and not 435 you win If we hit both or neither its a draw. And we donate 1 btc each to charity. - Mutually agreed escrow holds coins from both from the beginning to the end - 90 days - I propose NewLiberty - (Since the bet amount is so large and therefore foul play possible, I will require 2 bank days to set up my defences) I made a small edit. See above. 30 days not 90. 90 is stupid and isn't a bet at all. Don't be typical. Lol. 90 days or not, windjc will win imo.. Be careful with your money, there are smarter ways to invest than bet for internet reputation |
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I understand that withdrawing BTC from Huobi and such is still possible? If so, I do not believe we can have Gox-style decoupling - arbitrage, a.k.a. dumping Chinese coins on Bitsamp and such is still possible. It was complete inability to withdraw anything from Gox that coused its prices to decouple.
That is my understanding too. Yes but arbing only works for so long when you cant get money back into a Chinese exchange.
Even if all "easy" deposit channels are cut off, I imagine that there will be ways to get money into the exchanges, e.g. taking cash to their offices. Perhaps even after May 10. Arbitrage seems to be a lucrative activity for those who have the skills and tools, so they have enough motivation and money to find a way. Lol. Taking cash to their offices? That is worst case scenario for the Chinese exchanges.They certainly won't make manual trades on a large scale. The only way is to move offshore. All of you guys expect Chinese exchanges to somehow find another workaround. PBOC will ban these workarounds every time. They want the exchanges to move out. They're not banning exchanges themselves, but all the ways to make an exchange profitable. Now they're taking down China Merchants Bank, the only bank offering fiat deposit for BTCChina. Do you really think these guys want to handle cash deposits? lmao Look at FXBTC. All they've said has been true up to now. They've now closed their exchange. suspended fiat deposit and withdrawals. they knew that the ban was real since the beginning. its only chinese exchanges who want to somehow play around the pboc guidelines. this wont last long, i promise |
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There are no bids on Houbi ladies and gentleman.
This is a problem.
It looking more and more like a major decoupling of exchanges is coming soon ala Gox redux.
I understand that withdrawing BTC from Huobi and such is still possible? If so, I do not believe we can have Gox-style decoupling - arbitrage, a.k.a. dumping Chinese coins on Bitsamp and such is still possible. It was complete inability to withdraw anything from Gox that coused its prices to decouple. Yes but arbing only works for so long when you cant get money back into a Chinese exchange. That may be one reason why Chinese bears are dumping now - perhaps hoping to buy back at much lower price? EDIT: anyway, for transaction to occur, we need a buyer - and CNY on Huobi . So far the volume there is still nominally high, if true. A lot of bulls are now stuck in leveraged longs as they didn't expect the Caixin news. Now they have to make a decision: lose a bit of money and close their position, or lose a LOT of money.  |
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LOL at everyone denying the OP. I haven't edited anything in the OP since April 13. Look at the situation today!
Again, final warning. Chinese exchanges WILL move offshore. Capital will stop flowing extremely soon, and these guys will have no way to make trading profitable for themselves. FXBTC has warned everyone since the beginning. Look at them now (Frozen fiat deposit AND withdrawal). PBOC has issued guidelines and Chinese exchanges try to work around them. PBOC DOESN'T LIKE THIS. They want them dead.
And yes, China Merchants Bank will have to halt BTC accounts! Who knows how BTCChina will handle fiat deposits. Same for Huobi!
The only way is OUT.
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There may be some brief Bull-FUD involving such a thing as this. However, I think PBOC has made it clear that they will go after anything that operates like an exchange and offers bitcoin trading en masse with volume to the public. Bitcoin's legality in China is probably intended only for hand to hand person to person transfers such as with localbitcoins.
+1 to bold. They want to stop exchanges |
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I wouldn't blame the Chinese officials for this mess. Those who are to blame are the Chinese exchanges, who are trying to evade the laws and desperately trying to keep their business going
Chinese officials said their stance already in December, that they don't want to see any business activity involving bitcoin. Now they are gradually toughening the laws until everyone finally catches the drift. It's the greedy owners of houbi, btcchina and okcoin, who are trying to pretend that everything is ok and there is nothing to worry about. This is the reason why there is so much confusion on the subject. Those who paid attention, know from December, that the markets in China are running on borrowed time. An efficient market would have reacted strongly on this information, not jump back on-board every time Leon Li and Bobby Lee tell that they have a good feeling that everything will be ok.
+1 |
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Still not banned
Of course it isn't banned. You can legally own bitcoins. You just can't buy them or sell them through exchanges, lol. |
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Again, thanks to Halczy from Reddit who kindly translated the news into readeable English.. OP has been updated
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Why does this ridiculous panic continue? Wth is wrong with these idiots!
Because it is the end of Chinese pump era, this time Confirmed! What he said ^^. China led us from $100 to $1000. China will drive us back to $260. End of story. |
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too far too fast. I think a bounce up to 480 is possible and, by my eyes likely.
+1. Only Alipay has confirmed the news for now. Still more than two weeks for banks to confirm the news and cancel fiat withdrawal, etc... Until then this is hoax |
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If the news are true and they ban fiat withdrawal channel, most Chinese traders will have NO CHOICE but to withdraw in the small window between NOW and MAY 10 at the highest price they can sell their BTC off
On May 10th there will be another rally, just like April 15th.  Dream on. Article clearly states that the Central bank emphasizes that fiat withdrawal channel must be halted. Who will pump BTC? Huobi always led the rallies. now is time for exchanges to move offshore completely |
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Amazing how you just show up out of the blue to enlighten us with this news, just as the price is going down! Uncanny the timing! I'm so glad that you are not affiliated with those idiot troll day traders that have to make up FUD in order to get the price drop that they need to make a quick buck a few days from now. I'm sure that no one in China will buy a single bitcoin after today, as the charts will clearly show. /sarcasm  I don't think you realize how severe the consequences of Caixin news can have on BTC price. If the news are true and they ban fiat withdrawal channel, most Chinese traders will have NO CHOICE but to withdraw in the small window between NOW and MAY 10 at the highest price they can sell their BTC off Didn't a Chinese bank official earlier state that it's impossible to ban btc? I guess this could really slow down the market there, but I don't think they can kill it off completely.
They never planned to ban BTC as a commodity trading item. Never. |
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Okay, the correct translation is this: Central bank bans fiat deposits AND withdrawals (cash), effectively killing all fiat channels related to BTC.
I'll have a translated version soon. Stay tuned
Is that not what they aimed to do on the first ban? 1st ban was ban fiat deposit via bank transfer and 3rd party processors directly related to BTC payment. 2nd ban is ban fiat deposit via bank transfer, cash withdrawal, 3rd party processors directly and indirectly (read: coupons, vouchers, prepaid cards, OKCoin "bypass" methods) related to BTC payment. But this time it is a definite ban (lol) In the most basic terms, they're doing everything they can to kill all fiat channels in/out of BTC. In other words, China will be out of the game extremely soon. There will be no more capital flowing in China markets soon, people will want to withdraw ASAP. |
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Okay, the correct translation is this: Central bank bans fiat deposits AND withdrawals (cash), effectively killing all fiat channels related to BTC.
I'll have a translated version soon. Stay tuned
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Updated official Caixin link. Feel free to use your own translator. Google sucks balls.
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Banks...not government.
Edited |
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