Again, it astounds me that news out of China is even news or moves the price of BTC at all.  Anyone with half a brain knows BTC will is completely useless in China and its price is $0, I expect a full out onslaught of miners and the technology as a whole there.

That would be wonderful and exemplify the significance of the protocol as a whole, got those little China-men in their leadership positions shaking in their boots.  If the people were just slightly empowered it'd be a civil war with a billion people - the current leaders would be quartered and placed into BBQ pork buns!

This is not a mystery haha, except that it is finite and metered so accurately there is little anyone can do to corrupt it.  It is nice to witness the birth of something that has so much promise to achieve global equality in commerce.  The puppeteers must be either laughing in ignorance or they absolutely recognize what is coming.

There is something that you are forgetting, when quantum computers are built, a new variation of protocol will have to be developed because quantum computers render difficulty at 0.  Absolutely nothing.  There would be no difficulty rating for a quantum computer.

You are right on the money here! Much the same as McDonalds has to operate, by not sending out cash, but by buying Chinese product and sending that product to another location.  Eg to send $10M in profits from China, you can buy $10M in potato's and send those to your Singapore locations.  These controls have been lessened considerably but they are still there.  We are shipping potato's at a fraction of the cost of the underworld.

Its inevitable guy, just a function of common sense.  The great thing is I believe the price will head higher because of it.  If China seizes the exchanges that is.  It has been a very profitable system for quite some time and there are places to move and sell the bitcoins with out tax.  There is no laundering here, simply providing a service for people who wish to invest abroad.  The investments they make still have to be scrutinized with proper ID etc and lawyers.  Most of these people already have investments abroad and are obviously wealthy - it is still just as difficult for them to get money out of China.  It just so happens I assist them to buy real estate.  I completely believe the good times will come to an end soon hehe (from the old BBS days).  However I am working in Bangladesh now, another incredible opportunity.  I have a few clients from there who are uber-wealthy.  There is absolute poverty and there is absolute wealthy there.  The disparity is shocking.  We are setting up the proper infrastructure to be able to move money out of there now (BTC is banned) but it requires some infrastructure, the volumes are too low.  Call me Lord of BTC.

Sorry my friend I KNOW EXACTLY how China works hehe and I have been dealing with helping people get their money out of China for a long time.  Why do you think BTC is popular there!?!?!?!  

It has been funny for me to watch.  It is simply a matter of time when they figure out billions are being shipped out via BTC.  The problem is liquidity isn't enough in the outside World to manage the sales to prospective buyers....that is why the price of BTC increased so much.  It was China but they could not find enough buyers in the outside World to match their demand.

Sorry bud but the Lee brothers will simply vanish and I will laugh my head off again.

I do not think BTC will end.  I think BTC price will sky rocket later this year as 25% of supply is controlled by the Chinese authorities who seize $2B worth of coins.  That means opportunity to me.  All good with me.

Names are not important, what I can tell you is that I am only one person and a nobody per say.  I have helped educate and facilitate moving $20 million out of china via the Bitcoin protocol.

Do you really think China is going to allow this to happen when per capita controls were $40,000 per year.  hahahah.  My buy orders have been set for $530 - $450 for months.  China will soon flip the switch, they will seize Huobi, the Lee brothers will vanish and all of those coins will be owned by teh Chinese Government effectively removing supply.

I expect the price to continue forward with the Chinese Government as a 25% partner in BTC hehe

Come on guys this is a communist regime and Coindesk parades OkCoin and Huobi as if they were credible reliable institutions.  Sad, fault is on coindesk as well for being so naive.  But in their defense I doubt they have much understanding of geo-politics.

BTC must operate in free societies, it can operate in the shadows in others with out doubt but not in the public eye hehehe.  You are about to witness the flip of the switch real soon.

Always remember fellas who owns what, who knows who.

Much of the media and commentary around Bitcoin is created by the Coindesk method.  This is an old penny stock scheme for news creation and used to get people all excited to create *buzz*.  It is illegal in capital markets but in BTC it can sure be used as a wonderful smoke and mirrors play.  Read between the lines.

Nothing wrong with it you could say, just be aware of where the strings are being pulled so no one gets Coindoxxed.  The community is pretty good at self policing.

Again CoinDesk doing their best at journalism while promoting Lee and the fellas, as well as Ribbit Capital and Pantera...Aye ya.

So if the BTC price decline follows false report of bitcoin ban in china, shouldn't the price go back up considering the report is false?  I am going to suggest to you that there is a more complicated reason the price is falling and will continue to do so to a low of $470-$510, and has NOTHING to do with China.

Bitcoin trading in China already has no value.  Coins being stored on a server that is controlled by the Chinese Government is not what I would call valuable or important in the first place.  I consider all China BTC trading worth $0.  You will be able to value much easier that way.

When the authorities figure out that everyone and their brother is sending BTC out of China to their relatives here it will be all over very quickly.  $40,000 USD yearly limits are being blown right out hehe.  *** One click *** Over.

Sure.  These are Jeds words.

"The deduction is meant as to safeguard against the system being swamped by any one individual who might try to put through millions of transactions at once." regarding his new baby Ripple.  hahaha 50% pre-mine.  Jesus.

He was aware of the importance of dusting the chain, a tactic used for the malleability inefficiencies on Gox.  As well he was COMPLETELY aware of the ineptness and how Mark could be slowly swindled with no risk management controls.  You read the drama as well obviously.

He had the means the motive and the opportunity and some rivalry always helps.

In US Criminal law, means, motive, and opportunity is a popular cultural summation of the three aspects of a crime that must be established before guilt can be determined.

Guys, I posted on another post about this.  Is everyone completely stoned?  I see a bunch of lemmings with glasses on of course, staring into the open sky because it is a giant LED Screen built by BTC China and the lemmings are regarding a digital fairy waving her index finger, calling them to come, come, come....."we must send bitcoins to BTC China - ooooo 0% trading fees --- ooooo"

When they arrive, they are robbed, beaten and left for dead.  And the screen is turned off.

This is China fellas.  No facebook, no reddit.  0% trading fees will soon be made -1% trading fees and you will get paid to trade!  Then in one swift click of a button your coins will be seized by the Chinese Government and the Lee brothers will vanish - * POOF *

You have already seen the $200+ price positive on Gox, for a bankrupt institution that everyone was familiar with yet the price was a net gainer amongst exchanges, not a loser....backwards.  So is China BTC's 0% trading fee.  Man BTC is never going to make it until we get rid of the mindless lemmings.

Hmm another conspiracy theory but Facebook isn't allowed in China guys. Hahaha, I wouldn't be surprised if they instated -1% trading fees where you were paid money to trade.  Draw liquidity and bitcoins into the system and then seize the system with the two brothers no where to be found.  Do remember Gox's higher than average price that drew people in?  Seriously guys are you really retarded?

Come on fellas, think for yourself for once.  If coindesk had lips, they would be blistered from the BTC China blowjob article.

slurp, slurp, slurp.

Hmmm seems a little funny to me, this nepotism, favoritism and smoke and mirrors just like Fortress and Ribbit and Xapo receiving $20 million in funding.  It wasn't $20 million in funding, Fortress has their coins held with Xapo which is them anyway.  Hahaha and then you have Coindesk trying to wrap the whole thing up neatly thinking we are retarded or something.  Oh boy.  Most of the community sees through this stuff but there are still the uninitiated who think its all roses and clouds.  I particularly like the regard the community gave Bitstamp for a unidentified third party auditor - Scooby Doo?  Long way to go people, hopefully the community begins to wake up soon.  Paul Krugman was right no the money.  This is almost embarrasssing.

Anyway who thinks Jed did it or his 'group'?

"Ripple doesn’t collect transaction fees the way PayPal, banks and credit cards do. However, it does take “a small portion of a ripple (equivalent to ~1/1000th of a cent)” from each transaction. That amount is destroyed rather than retained. The deduction is meant as to safeguard against the system being swamped by any one individual who might try to put through millions of transactions at once."

Hmmmmmmm so he knew about dusting the blockchain, Gox's inherent flaws as well.  Scam of the decade as far as I know.  What say you?  Pretty open and close case to me.  Motive, method, all lines up to me. 

Vehicles, cars, are decentralized, identified by VIN's and license plates.  To operate freely they require networks and nodes, roads and cities, with which to travel through, otherwise they would end up in oceans and backyard barbeques. These centralized structures have rules.  They have signs, regulations and are policed to ensure each vehicle behaves properly.

Vehicles like crypto-currencies are also decentralized, identified by hash's and addresses.  To operate freely and proliferate they must travel through networks and exchanges, otherwise you would have to source them through Big Al at the local bowling alley.  The exchanges that operate today, all of them, are sub-standard.  There are no signs, there are illusions and deception, mystery and unaccountability.

Change is coming.