Bitcoin Vegas Conference: BTC-China Owner Speaks on Govt Announcement

[BittBurger]

Great podcast:  "Coinsider This".

Taken from the recent Vegas Bitcoin Conference, just after the China announcement.

Highly recommend everyone here listens in full.  Super important information for the community:

http://www.youtube.com/watch?v=rBgQFzyg8pk

(I believe he also covers Litecoin ASICS coming soon, the upcoming Litecoin boom)

-Burger-

[BittBurger]

Just an update: 

You can skip forward to 14:30 to hear the actual topic discussed.

[Dafar]

Thanks for this

[Acidyo]

Thanks, this is really interesting.

[EvilPanda]

This is exactly what I said after the initial panic started.
China stated BTC is not a currency so financial institutions (who ofc. deal with currency) can't deal with BTC.
People are free to trade BTC, which is a really good thing and a step towards recognition and regulation.
If a strict country like China can do it so can the others!

[empoweoqwj]

This is exactly what I said after the initial panic started.
China stated BTC is not a currency so financial institutions (who ofc. deal with currency) can't deal with BTC.
People are free to trade BTC, which is a really good thing and a step towards recognition and regulation.
If a strict country like China can do it so can the others!

If all countries follow China's lead, we end up in a state when no bank is allowed to deal with btc. Kind of makes fiat / btc conversions rather tricky. Like it or not, we need banks at the moment.

I also suspect this Chinese ruling means no bitcoin ATM machines could possibly be launched there. Again, a step back.

Its good bitcoin hasn't been banned in China, but that's the only good news I see from all this. So they let people trade it? Great. They let people trade almost anything.

[BittBurger]

Well the fact that they can buy and sell and also cash out is very relevant.

Even though I didn't fall for the misreading of articles like many, I didn't realize they can still cash out.

Banks apparently only deal with actual currency so by the time it gets to the cash out stage, all the bank deals with is the actual currency.

[empoweoqwj]

So why did Baidu pull the bitcoin payment option on their service?

[nate008]

So why did Baidu pull the bitcoin payment option on their service?

Because nobody was buying from them with bitcoins.

[BittBurger]

So why did Baidu pull the bitcoin payment option on their service?

Because the announcement was that *companies* can't do business in bitcoin.

People can still buy and sell on exchanges, and invest in it.

[Cryptolator]

Thanks !

[pmelt]

Hey guys. I'm the host of this podcast. Thanks for sharing it here. I don't really post here, but I will probably start doing it more.

I will be posting more talks from the conference, and as a matter of fact I just posted the final panel of the conference, which is pretty good.

Subscribe to the podcast on iTunes or YouTube if you like my stuff, and feel free to spread it around. I am just another fan of Bitcoin, but as long as people keep supporting my show I plan to travel to more of these conferences and bring more of these talks to people who can't go themselves.

[EvilPanda]

Hey guys. I'm the host of this podcast. Thanks for sharing it here. I don't really post here, but I will probably start doing it more.

I will be posting more talks from the conference, and as a matter of fact I just posted the final panel of the conference, which is pretty good.

Subscribe to the podcast on iTunes or YouTube if you like my stuff, and feel free to spread it around. I am just another fan of Bitcoin, but as long as people keep supporting my show I plan to travel to more of these conferences and bring more of these talks to people who can't go themselves.

Keep up the good work!

[LiteCoinGuy]

Hey guys. I'm the host of this podcast. Thanks for sharing it here. I don't really post here, but I will probably start doing it more.

I will be posting more talks from the conference, and as a matter of fact I just posted the final panel of the conference, which is pretty good.

Subscribe to the podcast on iTunes or YouTube if you like my stuff, and feel free to spread it around. I am just another fan of Bitcoin, but as long as people keep supporting my show I plan to travel to more of these conferences and bring more of these talks to people who can't go themselves.

nice podcasts, thanks for that!