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Simple. They probably wouldn't use the coins. Why would you when banks can drop their fees to zero?
Banks make a lot of money from other products such as mortgage fees.
In Australia we have basically abolished account fees, dishonor fees, it is very likely that international transaction fees are next to be abolished. After all, it doesn't really cost the banks to process it as it is automated.
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Looks like Baidu really has friends in high places to give them a headsup on the CPC policies!
Who is laughing now?
Either way, it looks like we should be reading legal documents conservatively and taking a look at the CPC's goals.
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Can anyone even login?
Create an account, clear cookies and cache, and you can't get back in...
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Has anyone got this to work?
Apparently I can't even login. o_O?
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It already is for those of us that wish to use it.
I heard Bitcoin is very popular amongst migrants.
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Username: lindatess
Great promotion. I wish I had clicked on this thread earlier... I missed two weeks.
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Great faucet. Best wishes into the future.
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Are there any reasons why the transaction fees have dropped to a point where Eligius is pretty much pointless, but the standard free transaction criteria haven't changed at all?
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Yes, the guy could have actually decided to distribute it via unique ip addresses which was already built into the client.
Sadly this was not on the agenda at the time.
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http://www.whois.com/whois/mybitcoinjob.comScam, site was created only a few hours ago and yet claims to have paid over 99 bitcoins away. Some guy in Panama is probably making big bucks with you guys doing free work. If it's like that other website bitcoinget, if you complete the tasks at one website, you lose the opportunity to complete the tasks elsewhere. The same applies with supersonic ads on Facebook.
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It's probably some person in China. Looks like they thought they wouldn't be tracked. They probably used a stolen credit card to create a VPS at Nobistech, chained a proxy and moved your bitcoins. http://www.nobistech.net/companiesOr it could be someone else using a proxy in China, but usually those proxies are slow. There would be better alternatives. It doesn't add up. Why not choose Transnistria? |
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However, general public may trade bitcoin on the internet by taking their own risk.
How is that not uber-bullish? Because if merchants aren't allowed to accept it as currency then that is a major blow for bitcoin adoption in China. However it's not clear to me if that is the case. That depends on how we interpret the institution part... For now, they will probably be allowed to accept until one day the CPC decide to take your money away. That's the risk, but it's a risk that is alright to be taking. It might require some bribes from the merchants, as well as Bobby will have to do some networking to ensure that they don't clamp down. For now I see it as a grey area. As for the person laughing at the foreigners. I bet you don't even know how to interpret it. You just think you do. None of us know. |
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Where did the old posts disappear to? http://www.coindesk.com/commonwealth-bank-closes-coinjars-business-and-founders-personal-accounts/
As Bitcoin is treated as goods, there is no reason for banning banks from deposit and withdrawal money from the registered bitcoin exchanges.
No where does it explicity state that and I don't see how you can draw that inference from what is written there... It is a great arbitrage opportunity for you, if you believe it. Just fly over to China tomorrow and you can make thousands. |
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Even if you can create a BTC-China account. You won't be able to withdraw to a chinese bank account anymore. Is that really the case? I wouldn't have expected Bobby Lee's statement to be as upbeat in that case. http://www.bloomberg.com/news/2013-12-05/china-s-pboc-bans-financial-companies-from-bitcoin-transactions.html“We’re happy to see the government start regulating the Bitcoin exchanges,” Chief Executive Officer Bobby Lee of BTC China, the largest Bitcoin exchange in the country, said today in a phone interview before the PBOC announcement was made. Regulations would be for “the good of the consumer,” he said. BTC is seeking recognition of the currency so it can be used to buy goods and services instead of being used for speculation, he said.
New rules for Bitcoin may not clarify Bitcoin’s legal status as regulators are divided over the issue, the people said. People are free to trade Bitcoin even as China refrains from recognizing it as a currency in the short term, PBOC’s Deputy Governor Yi Gang was cited by the 21st Century Business Herald as saying last month. |
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Why would anyone in China still want to buy bitcoins when this announcement demonstrates there is little hope for them there?
AFAIK, there are no restrictions on who can create an account on BTCCHina. We don't know whether the selloff was actually caused by Chinese traders. Even if you can create a BTC-China account. You won't be able to withdraw to a chinese bank account anymore. That breaks the idea of an online exchange. Only localbitcoins china would work. |
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Careful, Baidu only accepts bitcoin's for their anti-ddos software... You can't use it to shop on baidu or purchase anything else. |
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China’s central bank barred financial institutions from handling Bitcoin transactions. That includes all transactions involving bitcoin. The banks won't process it. The same has happened with CBA, ANZ, WBC in Australia. The same has happened in the United States with many of the larger banks as well.
Apparently it's this line.
二、各金融机构和支付机构不得开展与比特币相关的业务
现阶段，各金融机构和支付机构不得以比特币为产品或服务定价，不得买卖或作为中央对手买卖比特币，不得承保与比特币相关的保险业务或将比特币纳入保险责任范围，不得直接或间接为客户提供其他与比特币相关的服务，包括：为客户提供比特币登记、交易、清算、结算等服务；接受比特币或以比特币作为支付结算工具；开展比特币与人民币及外币的兑换服务；开展比特币的储存、托管、抵押等业务；发行与比特币相关的金融产品；将比特币作为信托、基金等投资的投资标的等。
Why did you deliberately censor it?
It will bring down the exchanges because no one will be allowed to use an exchange. All liquidity will vanish and people will be unable to get rid of their coins easily.
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Why don't you want the money to be put into the account where you deposited from?
The process you are describing makes you seem like a money mule. You should be indifferent to having money in Hungary and Malta.
I don't know what you are trying to do by making this public, but it isn't going to make mtgox care because they just following their AML regulations.
You realise we know that the IBAN starting with HU is from Hungary. Why are you trying to transfer the money to Malta, a known money laundering site and tax haven?
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