Is teh news out of China good or bad?

[ecoinclub]

Chinese banks can’t deal in ecoins

According to a statement on the central bank’s website, banks can not give pricing in Bitcoin, buy, sell or insure Bitcoin. The immediate reaction from the market is panic. News out of China was not nearly as bad as it seems. Most banks around the world can’t deal in ecoins.  The Central Bank also said that individuals in China are free to buy, sell and hold ecoins as long as they take on the risk themselves. This is great news for ecoins?  http://ecoinclub.com/real-story-china/

[Bartje]

I'm neutral on this news. While it's not particularly good news for bitcoin, this kind of news was to be expected, because central banks will not easily embrace the cause of their potential downfall. And the bitcoin community didn't get too scared from the news either: after a short dip, the value is back to $1100+ again.

[qwertyGuy]

It is logical, Banks dont sell gold as well. Banks focus just on fraction reserve currency