Central bank of China bans bitcoin gain ,banks will suspend all relative trade before 10th May

It’s said that central bank of China discussed with over 20 commercial banks and the third-party payment organizations on 28th April ,demanding them to suspend all bitcoin trading service and write off all accounts .Also ,it demanded the organizations to supervise bitcoin trading funds transference change and react to it rapidly .
According to the media ,largely commercial banks ,Alipay ,Tenpay ,Easy pay Yee pay .com and so on have joined in the discussion .With unclear policy ,many bitcoin trading platforms roll out “recharging code ”.Sell the cards through online shops ,which draws central bank of China attention .
Central bank of China claims “commercial banks and the third-party payment organizations provide bitcoin service for bitcoin trading platforms directly and Sellers (recharging code )indirectly .”Central bank of China demands the two kinds of service to stop .Commercial banks and the third-party payment organizations should clean up all kinds of their accounts .
Bitcoin international summit will hold on 10th May in Beijing ,so central bank of China set the deadline on 10th May .Recently ,China Merchants Banks announced not to support bitcoin service .BTC China and other trading website also claimed that their accounts on China Merchants Banks were closed .
Previously ,Alipay has announced that any organizations or individuals don’t have to use their service in bitcoin and litecoin recharging ,withdrawing deposit and selling recharging code and so on from now on .
In fact ,On the end of March ,the rumor that central bank of China demanded bitcoin trading websites to close all trading accounts before 15th April was popular in the public.Later,bitcoin price fell constantly .After 15th April ,though bitcoin trading websites closed some accounts ,bitcoin price increased to about 3000yuan without any document .According to BTC China ,with the above news again ,bitcoin price fell to aout 2600yuan. 

Remaks: Due to language difference, sometimes people out of China can’t know what happened in China quickly. so we are here to make effort to change little, we will translate 3-4 bitcoin news in China to English everyday to help people out of China know what happened and what people thinks about bitcoin in China, If somewhere translate not that good, pls PM us so that we can  correct it.

The ban to Bitcoin from financial organizations still continues .Recently ,Alipay and China Merchants Banks announced not to provide any service for Bitcoin .Also ,the last recharging mode—virtual recharging card faces up to  difficulties .
China Merchants Banks announced that from now on ,any organizations or individuals don’t have to recharge ,withdraw deposit ,purchase and sale Bitcoin ,litecoin and other virtual currency by our bank accounts .Also ,the public cant use our bank accounts to carry on a series of virtual currency trade .Once being found ,we will close his or her trade or write off the accounts .
Previously ,It’s said that central bank of China has sent a notice about preventing Bitcoin risk ,emphasizing that banks and the third-party payment organizations cant serve for Bitcoin trade .And write off all bank accounts from Bitcoin trading platforms before 15th April .However ,after 15th April ,many Bitcoin trading platforms still can recharge through money remittance and virtual recharging code .Thus ,Bitcoin price comes back to more than 3000yuan again .According to the media ,central bank of China discussed with some commercial banks and the third-party payment organizations again ,hoping to cut off Bitcoin trading funds chain completely .
BTCCHINA was not affected in the past month like huobi and okcoin, but this time, it is named and criticize by PBOC directly, when we browse btcchina yesterday, China Merchants Bank has stop business with them, and “bank of China(bank name) ” still works.
However ,BTC China still can be recharged through money remittance and BTCC recharging code yesterday .Compared with BTC China ,huobi.com and okcoin has suspended money remittance mode ,only being recharged by recharging code .

After money remittance and the third-party was cut off ,BTC China ,huobi.com and okcoin and other Chinese Bitcoin trading platforms recharge through recharging code .But now the mode may be cut off too.
Alipay released a statement banning Bitcoin trading service .It said , from now on ,any organizations or individuals don’t have to recharge ,withdraw deposit ,purchase and sale Bitcoin ,litecoin and other virtual currency through Alipay .Also ,the public cant use Alipay to carry on a series of virtual currency trade .Once being found ,we will suspend all relative service .
Therefore ,as Alipay and banks bans release,virtual recharging code is more difficult .Bitcoin BTCC code recharging platforms include 6 online shop in Taobao ..They said their BTCC recharging code still can be bought normally.
The vice CEO Ling kang of BTC China said ,the latest statement from Alipay will not affect BTC China much .Purchasing BTCC recharging code in which way is chosen by the clients not BTC China .But a Bitcoin expert said ,if virtual recharging code mode is suspended ,it will cut off  the funds chain of Bitcoin trading platforms .,Bitcoin trade may transfer to underground in China.

Remaks: Due to language difference, sometimes people out of China can’t know what happened in China quickly. so we are here to make effort to change little, we will translate 3-4 bitcoin news in China to English everyday to help people out of China know what happened and what people thinks about bitcoin in China, If somewhere translate not that good, pls PM us so that we can  correct it.

Chips is the core to mining machines as well as the source of the whole bitcoin mining machines industry .With about 10 thousand Chinese 28nm mining machines ,they develop rapidly .Also ,all mining machines use the same kind chips A1.When talking about A1,everybody may think about Bitmine .On September in 2013,Bitmine first appeared .At that time ,the company talked about its 28nm bitcoin mining machines chips and named it A1.But recently many bitcoin mining machines with chips A1 are obvious not made by Bitmine ,why ?
   
On the news released on 6th September last year ,it said three companies researched it : Innosilicon(the headquarter in China ), Verisilicon(the headquarter in Finland ), Synapse(the headquarter in France ).

“Its headquarter , located in Suzhou and Wuhan ,is the advanced IC design enterprise in the global .It has developed many IC and IP products successfully ,while clients include many famous design and equipment companies .”

The company has released relative news about chips A2
1000KW power may reach 150M hashrate,each chip is 1.8MHs, avearage power cost is 13W.

Remaks: Due to language difference, sometimes people out of China can’t know what happened in China quickly. so we are here to make effort to change little, we will translate 3-4 bitcoin news in China to English everyday to help people out of China know what happened and what people thinks about bitcoin in China, If somewhere translate not that good, pls PM us so that we can  correct it.

At the end of March ,it’s said that central bank of China may close all recharging entrance from Bitcoin trading platform before 15th April .Now 15th April has gone ,And central bank of China seems really want to ban bitcoin in mainland .These changes Chinese Bitcoin trading market enormously .
For 15th April case ,some Bitcoin fans transferred to Hongkong Bitcoin trading places at the end of March .Native Bitcoin trading market amount also transfer to Hongkong generally .Meanwhile ,Hongkong Bitcoin trading places open CNY recharging ,withdrawing deposit service ,and roll out many services to attract client’s attention .From then on ,Bitcoin trading platforms in mainland of China and Hongkong enter to competition stage

China is the biggest Bitcoin market in the world .Its Bitcoin market daily trading amount over 0.1million .After 15th April ,some Bitcoin fans transfer to Hongkong Bitcoin trading places ,while mainland Bitcoin trading market amount decreases rapidly .
According to the data ,there are some large trading platforms in Hongkong : 796、MYCOIN、ANXBTC、HKCEX、LAKEBTC,while native platforms :BTC China ,China BTC ,huobi.com ,okcoin ,BTCTRADE .Moreover ,native clients often join in 796and mycoin because they support CNY recharging and withdrawing deposit service and roll out many service to attract clients’ attention .
The market amount from Bitcoin trading platforms in China
Hongkong    Native
Name    Market amount    Name    Market  amount
796   30%   okcoin   25%
Mycoin   28%   Huobi.com    21%
Anxbtc   16%   BTC China    18%
Hkcex   11%   China BTC    15%
Lakebtc   6%   Btctrade   7%
Others    9%   Others    14%
(The data is from internet, we are not take responsibility for the reality.)
The Bitcoin investor Mr Hu said ,he is worried for Chinese trading website is usually affected by policy .Especially after affected by the policy ,once a large amount of clients need withdraw deposit ,they are difficult to get their money .When talking about his investing amount ,he was not willing to reveal the concrete number ,only to say about several million yuan .While taling about whether to transfer to Hongkong ,he said he may choose MYCOIN or 796.
Because investors are worried about native trading platforms affected by the policy ,clients choose to transfer to Hongkong platforms,exacerbating the fierce competition today .It’s competition that Bitcoin industry becomes more mature .After that whether Hongkong or native platforms ,their Bitcoin service are on primary stage .Let us to expect the convenient and excellent service through competition in the future .

Remaks: Due to language difference, sometimes people out of China can’t know what happened in China quickly. so we are here to make effort to change little, we will translate 3-4 bitcoin news in China to English everyday to help people out of China know what happened and what people thinks about bitcoin in China, If somewhere translate not that good, pls PM us so that we can  correct it.

It works to a certain extent, i know some platform locate in Hongkong can recharge and withdraw RMB online, but their volume is too small compare to huobi and okcoin. but if Chinese goverment totally baned bitcoin in mainland, those platform can get many customers from huobi and okcoin i think.

No, in mainland of China, there are only 1 side bitcoin ATM in Shanghai from April 15, you can buy bitcoin with cash, but can't sell bitcoin in that ATM.

Alipay has released the announcer on 25th April ,stating clearly it will not provide bitcoin and other virtual currency with recharging and withdrawing deposit service .Meanwhile ,it doesn’t allow to deal in bitcoin recharging code in Taobao .(Alipay is like chinese paypal in China)
Alipay stated that any organizations and individual don’t have to use our payment service to bitcoin ,litecoin and other trade recharge ,withdraw deposit and purchase recharging code from now on .If being found ,we will stop all service .

Alipay also emphasized it hasn’t provided any bitcoin registration ,trade ,reckoning and outturn service for the third-party ,warning clients to pay attention to bitcoin risk .
At present ,because the third-party payment recharging way has been banned ,Chinese main bitcoin trading platforms –BTC China ,okcoin and huobi.com main provide two CNY recharging ways :transferring accounts by bank and saling recharging code .Alipay may have an effect on the latter .
The vice ceo Ling kang of BTC China said on the interview that Alipay statement will not make a big effect to BTC China .He said ,whether saling BTC recharging code in any way ,it depends on merchants not BTC China .
BTC China also shows thaty 10 online shops sale BTCC recharging code , six is from Taobao .Before releasing the report ,the online shops haven’t responed anything to Taobao statement .
In advance ,Taobao has set bitcoin as search unshielded word .After the new rule has been ensured ,saling bitcoin recharging code in Taobao may be more difficult .
Compared with that ,huobi.com may face up to a more difficult problem .

At the beginning of the month ,huobi.com claimed to give up bank transferring accounts way for many banks stopped their service to bitcoin platforms .So if clients want to recharge on the platform ,they must buy recharging card from the third-party online shops .This is the main recharging way in huobi.com .
However ,huobi.com reveals today their online recharging shop still can transfer accounts by Alipay .If Alipay latest policy is confirmed ,the online shops will face up to difficulties ,threating capital inflow on huobi.com .
In addition,central bank of China discussed with some commercial banks and the third-party payment organizations how to prevent bitcoin risk ,hoping to cut off bitcoin trade funds chain completely .
According to the report ,central bank of China demands commercial banks and the third-party payment organizations to express their attitude to the public not to provide any financial service for bitcoin trade ,leading people to be far away from bitcoin trade .Maybe Alipay knows the supervision thought of central bank of China ,so it decided to ban bitcoin completely yesterday night .
Alipay also said it’s checking all bitcoin recharging code online shops ,and it will close all of them later .

Remaks: Due to language difference, sometimes people out of China can’t know what happened in China quickly. so we are here to make effort to change little, we will translate 3-4 bitcoin news in China to English everyday to help people out of China know what happened and what people thinks about bitcoin in China, If somewhere translate not that good, pls PM us so that we can  correct it.

The first two-side bitcoin ATM machine appears in HongKong .Purchasing bitcoin or exchanging cash is less than 1 minute ,while traditional bitcoin ATM machines need several hours to open the accounts on platforms .Meanwhile ,this machine don’t save individual information ,saving bitcoin in electronic wallet rather than network platforms which improves the safety .
When informed whether not saving individual information will be convenient to money laundering ,the bitcoin ATM machine founder said ,exchanging cash through electronic wallet should input password and be kept record .Additionally ,we have software to supervise .So we enjoy supervision ability to some suspicious trade.Its stragety master Lin zhi da said ,we will save clients’ information if the supervision organizations demand .He also emphasized ,with cooperating with operators ,they can trade and provide service through bank accounts .Thus ,they have the ability to control money laundering to some extent .
Its founder pointed that as electronic currency ,the supervision ordinance in HongKong and Macao defines bitcoin as goods not currency ,while bitcoin two-side trade is similar to goods trade ,but not accept deposit .Therefore ,it doesn’t refer to the limit of money trade license.

Yes !The HongKong Monetary Authority will not manage now ,but it will warn the public to pay attention to bitcoin change and risk .
The HongKong Monetary Authority reacted to the media with 4 point .First ,virtual goods price may change rapidly in a short time ,so customers and commercial organizations may get a big loss for changing price .
Second ,Because virtual goods usually are not published by identifiable publishers ,so if virtual goods are stopped to be traded ,customers and commercial organizations will not gain any refund .
Third ,we warn customers and commercial organizations to prevent virtual goods trade risk ,improving their warning .
Finally ,the public should know the machine is a kind of automat ,not common ATM .In addition ,we also warn all customers and commercial organizations that the machine isn’t run by banks .

Remaks: Due to language difference, sometimes people out of China can’t know what happened in China quickly. so we are here to make effort to change little, we will translate 3-4 bitcoin news in China to English everyday to help people out of China know what happened and what people thinks about bitcoin in China, If somewhere translate not that good, pls PM us so that we can  correct it.

Bitcoin mining solution supplier Avalon claims not to sale any goods on its official website ,entrusting its third-party emporium EHash.com to do .

All goods EHash.com sales are from Avalon ,including A3255 and A3233chips ,mining machines .The goods support bitcoin payment. After ordering ,clients will receive an email with wallet address ,payment two-dimensional code and shopping

information .After confirming the information ,clients can put bitcoin into the wallet to finish the payment. All products on EHash.com support bitcoin payment .Its manager said that we have confidence in bitcoin development and future application .Whether bitcoin changes ,we still use bitcoin .

Though with excellent goods ,Avalon saling way still exists its problem .Now it decides to sale all goods to the third-party professional team ,leading into top saling service and aftermarket and technological supports .

Avalon team is the famous global bitcoin mining solution supplier ,concentrating on providing the best mining products and software for the global .

Since 2012, Avalon has rolled out the first bitcoin mining machine on the global .It concentrates on bitcoin ecologic environment construction and legal process ,insisting to improve design.Also ,It constantly provides the best solution for clients

Remaks: Due to language difference, sometimes people out of China can’t know what happened in China quickly. so we are here to make effort to change little, we will translate 3-4 bitcoin news in China to English everyday to help people out of China know what happened and what people thinks about bitcoin in China, If somewhere translate not that good, pls PM us so that we can  correct it.

Different people have different opinions to bitcoin .Somebody believe that it will be the currency ,throwing dollars ,Euro and yen and so on into historic dustbin While some say that it’s only a newly software which make economics hard to explain its highness.It’s the competition between tradition and newly things .
Unfortunately ,the focus of the argument is wrong .The main sense of bitcoin is not for whether it can replace cash ,but for whether a breakthrough can defeat some industries .
Compared with e-mail and internet creative application .But after 40 years ,we should admit that Internet enjoys endless uses ,while e-mail is one of them .Meanwhile ,currency is bitcoin creative application ,but it will not only be currency in the future .

The key to bitcoin is that it is able to finish the trade without the third-party payment .Bitcoin can finish the trade through distributed ledger .Of course ,users should activate the ledger slot .
The system obviously will make a challenge to existing payment industry—banks ,credit card companies and cable transfer department and other disintermediation .Bitcoin not only can decrease handling charge but can iron out the behavior cheating customers and stealing information .Boston Consulting Group report said ,last year ,the income between the global payment and financial trading service reaches 52.4billion dollars ,estimating the figure will increase to 1.1trillion dollars within 10 years .
But ,Surprisingly ,In theory ,the concept of distributed ledger owns different kinds of application ways ,not only for payment .Individually ,if you don’t need the telephone companies to specify telephone number for you ,what is the outcome ?Or if you search for something without Google ,what is the outcome ?It sounds intemperate ,but that time nobody can guess e-mail may destroy a disc entertainment.

“Many things live under the large organizations ,while they may be the challenging aim of bitcoin .”Bitcoin expert Anders Brownsworth in Boston said .
No wonder some famous risk investors pay more attention to bitcoin and some relative companies .For example , Andreessen Horowitz has invested 50million dollars to the industry . Accel Partners,which has invested facebook ,cooperates with Jeremy Allaire investing 9 million dollars to a newly bitcoin company .The investor ,who has invested Twitter ,recently cooperates with Union Square Ventures investing a bitcoin wallet company called Coinbase.
The investors all want to make profit from bitcoin trade .However ,it awakes me of Howard Anderson , who has founded Yankee Group and Battery Ventures,said in 2006 when talking about American speculative organizations invest Chinese entrepreneurship :many investors who invest Chinese entrepreneurship will be frustrated .But they said “I know this is the risking cost .”That is to say ,now you should gain some attack ,but later you will gain success .
Risk investors play a long –term game in Bitcoin .Because they realize that bitcoin has the ability to increase Internet function ,whether payment or other aspects .Finally ,they care little about the return from which currency .

Remaks: Due to language difference, sometimes people out of China can’t know what happened in China quickly. so we are here to make effort to change little,we will translate 3-4 bitcoin news in China to english everyday to help people out of China know what happened and what people thinks about bitcoin in China, If somewhere transalte not that good, pls PM us so thatwe can  correct it.

The president candidate in America in 2016 criticizes Federal Reserve System,claiming to accept bitcoin

Darryl W.Perry，the president candidate in America in 2016,from the liberal Party ,claims to only accept bitcoin,litecoin ,gold ,silver and cupreous on the electing donation .Perry is not only a publisher ,TV presenter as Well as an writer ,but also he is a bitcoin advocate.

Perry wrote on his website :the president competitor in 2016 Darryl W.Perry will not accept any currency according to the law ,but accept bitcoin ,litecoin and valuable metal .

Perry said now the financial and currency system is building on the basis of cheating ,stealing and forcing .He also believes that central government is forcing people to use the currency they don’t want to use .

Perry said he would abolish the legal currency law ,monopoly from Federal Reserve System,accepting other currency and improving the economic situation .Alsso ,he stated that America currency value is operated and limited ,causing it decreased by 98% last 100 years ,His point challenged united government directly .

In fact ,Perry completely supports abolishing Federal Reserve System ,IRS and the expenditure violating constitution .
In Perry opinion ,the measures Federal Reserve System take to improve finance are not enough ,and almost nothing they do good to the financial crisis .This is because they believe they will cause more trouble after taking measures .

Perry also supports free market system with wares currency .Thus ,bitcoin and other digital currency are advancing in the correct direction .

Central bank of China criticize two banks in China for not stop business with bitcoin platform

April 24 morning , the central bank interviewed some of the commercial banks and third-party payment agencies to deploy the next steps, preven and control the risk of bitcoin , want to completely cut off the chain of funds through Bitcoin transactions.

The interviews hosted by the Central Bank of the Law Secretary Muhuai Peng , participants include the central bank to pay Secretary Li Yue , and many other central bankers

Someone from Central Bank said that this is mainly because after April 15 Bitcoin prices rebounded sharply, and platform still doing business with banks in China

Central Bank in March issued "on further prevent the risk of bitcoin notice" , stressed banks and third-party payment institutions may not serve Bitcoin transactions cleared in the current account deadline April 15 . However , on April 15 , the majority of Bitcoin trading platform is still functioning , Bitcoin prices also soared from 2,500 yuan to 3,000 yuan.

In the meeting , the central bank has been criticized two banks, include “Bank of China” and China Merchants Bank.

Mu Huaipeng Secretary repeated the file of  " on guard against the risk of Bitcoin notice" and "to further prevent the risk of bitcoin notice", and financial institutions and payment institutions shall not provide , directly or indirectly related to bitcoin services policy requirements.

After "further guard against the risk of bitcoin notice" issued , including huobi , OKCoin have lanched another way to recharge and withdraw, named recharge code,

OKCoin launched a recharge code , users can now change the yuan to recharge code, and then transferred to the recharge code OKCoin other users to recharge. Recharge codes need to be purchased from the agent . huobi and BTCChina also taken a prepaid recharge code distributed manner .

As of April 24 , all Bitcoin trading platform in China has been stop third-party payment . Most bank card recharge channels have been closed , however , some are still allowed to bitcoin bank transfer and cash withdrawal services platform .

In the meeting,Central bank emphasized that  cash withdraw must also be stopped.

The central bank also requires the agencies need to assign someone to monitor changes in the way funds transfer Bitcoin transactions , the new account to receive a list issued by the central bank , and make quick response.

Remaks: Due to language difference, sometimes people out of China can’t know what happened in China quickly. so we are here to make effort to change little,we will translate 3-4 bitcoin news in China to english everyday to help people out of China know what happened and what people thinks about bitcoin in China, If somewhere transalte not that good, pls PM us so thatwe can  correct it.

Hi, I'm Jason from best-miner.com, sorry for just watch this thread, if you have friend in China, you can let him go to our office to confirm, some of customers go and pick miners by themself in the last few months.

  
   Bitcoin miners from our Guangzhou OEM factory
   Test before deliver
  
    
   Empty box
  
   Old avalon 200G mining place
  
   Empty package for miners
  
  
    
    People confirm:
    There are serveral of them go to our office and confirmed us in this forum, so if you want, you can pm me, i will give you their id, so that you can confirm us. two of them let their friends in China go and confirm us yet,

Some of them are from competitors, like if you use this one with low mining profit or unstable as the result of DDOS, as the end-miner, you will change another one.

Some may from some geeks, just for fun.

Check the logs for CPU/GPU to confirm whether it is because the temperatue, increase a bit, and if it still happens, try add a fan to cool may help a little too.

Yes, when you reset anything else, don't forget reset the router, it has a easy way to reset router, just pull out the power line of router, then wait 2-3 seconds to plug it back. it is simple and effective.

Still got almost 1 month left, seems no problem to get 10B for them.

At the moment, many transactions are typically processed in a way where no fee is expected at all, but for transactions which draw coins from many bitcoin addresses and therefore have a large data size, a small transaction fee is usually expected.
The transaction fee is processed by and received by the bitcoin miner. When a new bitcoin block is generated with a successful hash, the information for all of the transactions is included with the block and all transaction fees are collected by that user creating the block, who is free to assign those fees to himself.
Transaction fees are voluntary on the part of the person making the bitcoin transaction, as the person attempting to make a transaction can include any fee or none at all in the transaction. On the other hand, nobody mining new bitcoins necessarily needs to accept the transactions and include them in the new block being created. The transaction fee is therefore an incentive on the part of the bitcoin user to make sure that a particular transaction will get included into the next block which is generated.
It is envisioned that over time the cumulative effect of collecting transaction fees will allow somebody creating new blocks to "earn" more bitcoins than will be mined from new bitcoins created by the new block itself. This is also an incentive to keep trying to create new blocks even if the value of the newly created block from the mining activity is zero in the far future.

Really good quesiton, now the situation i think it is more and more clear.

Although most of country goverment try to not let bitcoin to be real currency, we know that like overstock.com  has accpet bitcoin and has really great sales, you know, when 1 competitor has get a new way to find many customers, as the biggest one amazon, if he don't follow up, he may lose these kind of customers, as people has purchase habit like, when use bitcoin pay, i choose overstock, when......, so like their CEO said, i think amazon will follow up too. then you will know, goverment can't use their policy to kick bitcoin out again, as more and more people will use it, when it become their property, goverment has no right to forbid its using.

   And in some country like south american, their currency is really mess. so people would like to find another currency to hedge, like gold or dollar. now they can use bitcoin now, some of my customers really enjoy it, For as bitcoin is much better than their bank to hedge assets, but i always told them one thing.

   Never put eggs in one basket, using 10%-20% to invest in mining or bitcoin, if you losing it, you won't be too sad, if it grows in next few year, you will be wealthy then.

    Yes, forgot the way using laptop to mining in this difficulty, if you mining with laptop 2 years ago, you can mining lots of bitcoins, but now, with lattop mining for 1 year, you may only get less than 0.1BTC, so just forget it.

    Use CPU like I7, the hashrate is about 0.04M, now our product is 200-200G hashrate, for about 0.06 BTC this day.

    You can caculate how many you can mining with computer cpu now.

    Try a real bitcoin miner if you want into bitcoin mining, or just learn more before going into this risk market.