Why couldn't you ban bitcoin ATMs as easily as stopping deposits into an exchange? Indeed, isn't that the current state of things in the USA? (Not officially, but who wants to apply for money transmitter licenses in 50 states and comply with all the regs?
They didn't ban deposits into exchanges. BTC China suspended deposits from banks. The government banned deposits from 3rd party services. We need some time for clarification here though. Regarding your American point, applying for liceneses in all 50 states is not needed. Just apply in the biggest states with the most returns. If BTC continues to take off, the others will get their BTC.  Also, their is some money coming into to change these ridiculous money licensing laws e.g. to be more like Europe - i.e. one license applies to other states. IAS the whole point is to stop people from buying bitcoins. so if there were ATMs, they would just ban them. Respectfully disagree. There are too many ways into BTC and the ways are growing. You are not sure about "the whole point" - none of us are. They haven't just banned buying BTC. It really looks like the government is just trying to slow things down. We will see. |
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Why couldn't you ban bitcoin ATMs as easily as stopping deposits into an exchange? Indeed, isn't that the current state of things in the USA? (Not officially, but who wants to apply for money transmitter licenses in 50 states and comply with all the regs?
They didn't ban deposits into exchanges. BTC China suspended deposits from banks. The government banned deposits from 3rd party services. We need some time for clarification here though. Regarding your American point, applying for liceneses in all 50 states is not needed. Just apply in the biggest states with the most returns. If BTC continues to take off, the others will get their BTC. Also, their is some money coming into to change these ridiculous money licensing laws e.g. to be more like Europe - i.e. one license applies to other states. IAS |
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The Chinese government did not ban people from transferring money into exchanges via banks. They banned banks from buying BTC - don't confuse the two.
They banned 3rd party service (e.g. Dwolla) from transferring money into exhchanges.
The problem stems from BTC China temporarily suspending (in their words) deposits from banks. So, I think we need a few more days to see what comes of the "ruling" and reaction.
Regarding mining, considering the above, I say mining GREATLY increases in China.
IAS
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If we take what the government said at face value, then that means Banks will be one of the few ways to buy BTC's in China. (The Banks themselves can't deal in BTC's though - that was the prior announcement to the latest news.) The complication, is that BTC China suspended, not cancelled, deposits from banks - for what reason - I can only assume was to be careful and get further clarification??? That said, if a BTC ATM would allow cash to be directly transmitted to an exchange, then perhaps this is a possibility. I know some of the ATM's hold BTC's internal and other buy right off of the exchanges. Not sure how the latter will deal with law in China. Perhaps someone with knowledge here can chime in. A pretty clear solution, I think, would be a model like bitcoin.de, where as they act as an escrow account, and purchases/sales are essentially done person to person. There is another business like that in the UK I believe. The downside (or is that upside?) here is that you can't as easily trade, unless you have instantaneous transactions (Not in Germany, but pretty close in England.) I am really shocked we don't see more models like the Escrow model. Of note - the decentralized exchanges that will use mastercoin and ripple perhaps, I believe, are a sort of escrow model. Anyone? Really, this discussion (and all the others) are being driven by a "crashing" price. But, that is BTC, that is it's history. People are extremely jumpy as it is an extremely risky investment, depending on where you are coming from. To me, it is a statement and a revolutionary bringer of change.  IAS |
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Seems legit  Perhaps you are on to something.  Total Supply - 8,667,875,639 DOGE (Not a misprint) Price - .0003 (cents) or 0.00000056 BTC Market Cap - $2,631,482 Taken from http://coinmarketcap.com/ |
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But it looks like you are confusing 3rd party services (e.g. YeePay) with Banks. The confusing thing is that BTC China suspended deposits period, but the "suspended" them in their own words. Still between clear answers but it looks like banks will be the ONLY method of depositing money. This young guy does a bit of research and came up with the same thing (though time will tell): http://www.youtube.com/watch?v=DcL991lTA0Q&feature=em-uploademail |
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Wow, looks like the Chinese are leading things again! What happened? |
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From https://vip.btcchina.com/account (requires login) Dear BTC China valued customer: Due to new government regulations, BTC China will temporarily suspend CNY deposits. BTC deposits/withdrawals and CNY withdrawals are not affected, and will continue to operate in the interim. Rest assure that BTC China will continue to operate normally. Please pay attention to our notices for updates, as we find other ways to allow for CNY deposits. We deeply apologize for any inconvenience. BTC China, December 18, 2013
To stabilize the recent turbulent Bitcoin market and minimize potential market manipulation, BTC China will end the 0% trading fee promotion, effective immediately, and revert to the 0.3% trading fee. We deeply apologize for the sudden change. BTC China, December 16, 2013
They say it's temporarily. I think that is the BIG thing. This change is about NO 3rd party services being used and apparently NOT about banks. But it looks like, for whatever reason, BTC China temporarily suspended deposits. It will take a few days for this to play out I think... |
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Good point rammy2k2 And, as I said in the other thread on this topic. Here is another perspective on it: http://tech.sina.com.cn/it/2013-12-17/01139011174.shtml#483253-tsina-1-18627-1cf60a7c37a7bc296a2ba7aba0120190Rough Google Translation: Sina Technology
Sina Technology > Industry > Bitcoin : the future of speculative bubbles or financial topic > Text
Bank of interviews with third-party payment bitcoin risk prevention
At 01:13 on December 17 2013 First Financial Daily
Yan Xiangjun
"The central bank regulations third party payment institution shall not provide hosting bitcoin trading site for the trading business ." Yesterday afternoon , the central bank called third-party payment companies meeting revealed the news.
"First Financial Daily" reporters learned exclusively , December 5 issued "on guard against the risk of Bitcoin notice" ( the "Notice " ) Following the central bank again yesterday , " attack" , interviews with more than 10 third-party payment companies relevant person in charge , it may not be explicitly requested to Bitcoin , Wright credits (LTC) and other trading sites offer payment and settlement business.
In less than two weeks time , the central bank even out "two trick" to prevent the risk of Bitcoin , and convey the spirit of the meeting is to be interpreted as " drastic " Many Bitcoin insiders .
Third-party payment " three line"
A large third-party payment company , told reporters that the participants who , yesterday morning, more than 10 third-party payment companies convened by the central bank , in Beijing held a closed-door meeting . Such persons in an interview with this reporter revealed that the meeting , Deputy Director of the settlement payment was chaired by the Secretary golden week the central bank , every company has sent 1 to 2 participants stakeholders .
" Justice Week at the beginning of the meeting made it clear that the meeting was not convened to discuss whether the companies about Bitcoin -related businesses can conduct , but to convey the attitude of senior central bank , which may not be the first third-party payment companies to bitcoin , Wright currency and other trading sites provide payment and settlement services ; Secondly, for payment institutions business cooperation has occurred should be lifted , the stock of money at the latest to complete the withdrawal before the Spring Festival , the new payment services may not occur ; third , strict implementation of the December 5 the central bank issued a " notice " . " these third-party payment companies told this reporter.
According to newspaper reporter to get a third-party payment companies participants recorded meeting minutes , the meeting , in addition to domestic regulations do not allow third-party payment agencies engaged in related businesses bitcoins , the central bank will also be after studying the relevant requirements for access in the territory of Bitcoin -related businesses overseas payment mechanism.
After Golden Week convey relevant spiritual , individual companies have made the payment that he will strictly enforce the above three requirements. But it is worth noting that one of the world 's most active trading site BTCC ( bitcoin China ) as well as Bitcoin , Wright currency trading site OKCOIN have third-party payment agencies from the original co- pay through fiscal replaced by another third-party payment companies , meanwhile, have users complained that two sites are currently only using money paid through withdrawals , but not through its recharge.
"Alipay has not any bitcoin trading site had business cooperation, " Alipay stakeholders in an interview with this reporter , said , "If investors find recharge channels Alipay , you need to be alert to whether the other individual accounts, if really is a personal account, the investor must be aware of the risks . "
There Bitcoin Insiders believe that the contents of the central bank from yesterday's meeting , the central bank for risk prevention efforts may result in a larger bitcoin , but he also expressed puzzled , because this might make the original line open and transparent Bitcoin trading platform is transferred to the ground, the difficulty of monitoring will also rise.
Bitcoin bleak future in China ?
" Come after " notice " is issued, we are in this thing to worry about third-party payment will not do it , did not think of a prophecy ." Bitcoin transaction , a person in charge after hearing the news of the newspaper Reporter said.
After the "notice" issued by the vast majority of people in the industry believe that the " caliber looser " or even " a regulatory innovation " is different , the spirit of the meeting of the central bank to bitcoin industry obviously caused some blow. Many industry insiders have said that bitcoin future development of the situation in China worrying , will choose different levels of " escape" , or transferred to offshore trading platform Bitcoin transactions.
Earlier, the central bank's " notice" had explicitly requested at this stage of financial institutions and payment institutions shall not conduct business associated with bitcoins are not allowed to bitcoin for a product or service pricing , may not be sold or traded as a central counterparty bitcoin not covered with Bitcoin -related insurance business or insurance bitcoins into range. After the "notice" is issued, although Bitcoin market has movement fell short , but soon that recover "lost ."
Yesterday 's meeting will have much impact on prices bitcoins is still unknown, but as of press time newspaper reporter , BTCC Bitcoin price has fallen from yesterday's highest 5335 yuan to 4600 yuan , a decrease of 15%.
[/size] |
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Well, Lucano mentioned this link in his thread. Not exactly what has been said: http://tech.sina.com.cn/it/2013-12-17/01139011174.shtml#483253-tsina-1-18627-1cf60a7c37a7bc296a2ba7aba0120190Rough Google Translation: Thoughts? Sina Technology
Sina Technology > Industry > Bitcoin : the future of speculative bubbles or financial topic > Text
Bank of interviews with third-party payment bitcoin risk prevention
At 01:13 on December 17 2013 First Financial Daily
Yan Xiangjun
"The central bank regulations third party payment institution shall not provide hosting bitcoin trading site for the trading business ." Yesterday afternoon , the central bank called third-party payment companies meeting revealed the news.
"First Financial Daily" reporters learned exclusively , December 5 issued "on guard against the risk of Bitcoin notice" ( the "Notice " ) Following the central bank again yesterday , " attack" , interviews with more than 10 third-party payment companies relevant person in charge , it may not be explicitly requested to Bitcoin , Wright credits (LTC) and other trading sites offer payment and settlement business.
In less than two weeks time , the central bank even out "two trick" to prevent the risk of Bitcoin , and convey the spirit of the meeting is to be interpreted as " drastic " Many Bitcoin insiders .
Third-party payment " three line"
A large third-party payment company , told reporters that the participants who , yesterday morning, more than 10 third-party payment companies convened by the central bank , in Beijing held a closed-door meeting . Such persons in an interview with this reporter revealed that the meeting , Deputy Director of the settlement payment was chaired by the Secretary golden week the central bank , every company has sent 1 to 2 participants stakeholders .
" Justice Week at the beginning of the meeting made it clear that the meeting was not convened to discuss whether the companies about Bitcoin -related businesses can conduct , but to convey the attitude of senior central bank , which may not be the first third-party payment companies to bitcoin , Wright currency and other trading sites provide payment and settlement services ; Secondly, for payment institutions business cooperation has occurred should be lifted , the stock of money at the latest to complete the withdrawal before the Spring Festival , the new payment services may not occur ; third , strict implementation of the December 5 the central bank issued a " notice " . " these third-party payment companies told this reporter.
According to newspaper reporter to get a third-party payment companies participants recorded meeting minutes , the meeting , in addition to domestic regulations do not allow third-party payment agencies engaged in related businesses bitcoins , the central bank will also be after studying the relevant requirements for access in the territory of Bitcoin -related businesses overseas payment mechanism.
After Golden Week convey relevant spiritual , individual companies have made the payment that he will strictly enforce the above three requirements. But it is worth noting that one of the world 's most active trading site BTCC ( bitcoin China ) as well as Bitcoin , Wright currency trading site OKCOIN have third-party payment agencies from the original co- pay through fiscal replaced by another third-party payment companies , meanwhile, have users complained that two sites are currently only using money paid through withdrawals , but not through its recharge.
"Alipay has not any bitcoin trading site had business cooperation, " Alipay stakeholders in an interview with this reporter , said , "If investors find recharge channels Alipay , you need to be alert to whether the other individual accounts, if really is a personal account, the investor must be aware of the risks . "
There Bitcoin Insiders believe that the contents of the central bank from yesterday's meeting , the central bank for risk prevention efforts may result in a larger bitcoin , but he also expressed puzzled , because this might make the original line open and transparent Bitcoin trading platform is transferred to the ground, the difficulty of monitoring will also rise.
Bitcoin bleak future in China ?
" Come after " notice " is issued, we are in this thing to worry about third-party payment will not do it , did not think of a prophecy ." Bitcoin transaction , a person in charge after hearing the news of the newspaper Reporter said.
After the "notice" issued by the vast majority of people in the industry believe that the " caliber looser " or even " a regulatory innovation " is different , the spirit of the meeting of the central bank to bitcoin industry obviously caused some blow. Many industry insiders have said that bitcoin future development of the situation in China worrying , will choose different levels of " escape" , or transferred to offshore trading platform Bitcoin transactions.
Earlier, the central bank's " notice" had explicitly requested at this stage of financial institutions and payment institutions shall not conduct business associated with bitcoins are not allowed to bitcoin for a product or service pricing , may not be sold or traded as a central counterparty bitcoin not covered with Bitcoin -related insurance business or insurance bitcoins into range. After the "notice" is issued, although Bitcoin market has movement fell short , but soon that recover "lost ."
Yesterday 's meeting will have much impact on prices bitcoins is still unknown, but as of press time newspaper reporter , BTCC Bitcoin price has fallen from yesterday's highest 5335 yuan to 4600 yuan , a decrease of 15%. [/size] |
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Well, something is going on, look at fiatleak - http://fiatleak.dyndns.org/For close to an hour 1 BITCOIN HAS BEEN BOUGHT IN CHINA. Over 800 in the USA. Normally China is double us. IAS |
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Vircurex is a GREAT trade site, with a great engine (at least from my experience.) I would have never joined Cryptsy is Vircurex had QRK last week! Crypts has some nice features but the delays getting BTC in (not Cryptos out though) are sometimes tough. Also, Cryptsy can be really weird with the order book as I've seen mentioned as well as have experienced. I've had orders sit on the asking price with nothing and lots of weird activity. IAS |
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ATENTION - BIG BUG IN MAC QUARK WALLET --------------------------------------------------- My Mac wallet don't work well. My payments don't gice (0 of 6 confirmations). I pay 0.01 QRK fee and send 1 Quark 24 hours ago and don't arrive to the other direction yet. What happen please? Transaction id: 126620726ef3bf81340133b71b7a5456016fc30a3e6801dbc3c4e5b11e05d84a Here: http://block.lowend.fm/address/QdzFv9TPunzKRCMQ66xLhjGrQXk8x1U9R9Transactions out: 0 and Balance incorrect. Big bug in MAC wallet!! --------------------------------------------------- In the version of first thread's page of Windows-Qt Wallet ( http://www.qrk.cc/quarkcoin083r6win.zip) happens too? What can I do with the Quarks in my Mac's Wallet? If I send to any wallet, I lost the Quarks! Can anyone confirm this? I find it interesting that there have been no other reports of this (that I have seen). IAS |
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If you missed this, from Barntech: **** Update 10-12-13**** Hey guys. OK i'm back, had a great weekend away and came back to good news! The team have implemented the fix into 30 boards and they have been running successfully for two days.  Looks like we're in business. I am shipping out those 30 boards now and the rest will be ready and tested tomorrow. We have passed the info on to our repairers in the states and the U.K. so we are ready to go into full repair mode. Can everyone who is keen on doing the fix themselves please write to me so i can make note of who you are and pass on the relevant information. Thanks everyone for your patience in this. We are truly almost out of it now. Can't wait to get this done so we can move onto future plans!! I've noticed tensions have been running high and i understand it completely. It certainly has been a frustrating situation. But please don't take it out on the people helping make all this happen. This has been an amazing community effort and has been so wonderful to see everyone band together and solve this situation as a group. Massive thanks to TK1337 and Milkbottlec for stepping up to help out with repairs and going way above and beyond. Massive thanks to Lajz for keeping the forum running smoothly. And to everyone for chucking in your thoughts to help get to the bottom of it all. As for what actually went wrong here, unfortunately we don't really know. Could have been bad or fake parts, could have been bad workmanship putting the parts on. As for the design, we are almost 100% sure that the chosen parts were right and the design sound, but i guess its possible that they just weren't up for the job. On paper there was plenty of overhead in there. Its kind of impossible to say really. But hey, we've found a way around and the boards now work. Thats the main thing. Now i imagine things are going to get a bit messy with packages all over the place so please make it easier for me and let me know the status of your stuff. First thing i need to know is everyone doing their own repairs. Oh and there is a new firmware that is running very smoothly indeed. More on that soon.  Thanks guys. Barntech |
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Lots of threads about the value here. I get that but I'm curious about what I posted a few pages back. IF it has already been answered I would appreciate the linke
"
I am curious, since the Quarks are mostly already mined, what will the incentive be to mine and or support the network? This is key going forward.
I can't argue with the obvious: Great development team, nice combination of security, faster transactions times, Keiser pump and BTCe soon to have it there."
I am a holder of QRK's btw.
Thx,
IAS
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I transferred a part of a BTC to pick up a few Quarks over at Cryptsy yesterday. Suffice to say I had to file a support ticket as there were like 8 confirmations on the blockchain and then finally it appeared on Cryptsy. The weird thing is it was confirmed completely from one minute to the next, where as nothing even showed prior to the Final confirmation. It probably was about 1.5 - 2 hours, which after seeing the replies here, wasn't terrible. Anyway I got in before the runnup as I bought in yesterday. Also, I put my order in at a bit above the price and instead of me getting the best price (which the pop up window said would happen), it appeared that the sell orders rose to meet me??? So much for that pop window.
I am curious, since the Quarks are mostly already mined, what will the incentive be to mine and or support the network? This is key going forward.
I can't argue with the obvious: Great development team, nice combination of security, faster transactions times, Keiser pump and BTCe soon to have it there.
It seems to me, that BTC being at near $1000 is partly responsible for this flood of money to the Cryptos. This isn't a bad thing as I see the Cryptos being organic and growing/interacting with one another.
But that said, if they (this one too) is too succeed, it will need a VERY strong network on which to run. e.g. BTC & LTC is all as far as I see.
IAS
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I just wanted to try out the Quark QT client at mining so I typed in "setgenerate true -1" into the console. I imagine it is mining as my CPU utilization (on my i5 Mac) has been around 300%-365% for 30 minutes.
I don't think this will be good for my CPU, so I'd like to turn it off. Any ideas or am I wrong about this affecting the health of my CPU?
Thanks,
IAS
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I restarted my CGMiner and now Slush is picking things up again.
I just upgraded to MinePeon V5 (with CGMiner 3.8.4) and wonder if that might be the reason. Never had a problem with Slush NOT picking up my hashing.
Anyone that had the same problems running the same setup?
Thx,
IAS
ps - How do you just restart the worker? I saw that mentioned.
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I'm seeing the same thing, no hashing/current shares from the bitcoincz page. (everything is empty basically) But my miners are hashing away fine. Thought it was me testing a new Raspberry Pi with new worker, but the old worker shows the same when hashing as well.
Question - I am going to be getting more hashing power and I could swear there used to be a place to enter in your hashing power (when setting up a worker?) in order to hash at the correct difficulty or something like that. Is this gone now? All I need to do is create a worker and give it a pw?
Thanks,
IAS
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