[2014-01-08] China’s top e-store bans trading of BTC and sales of BTC mining kit

[AnhBen]

China’s top e-store bans trading of Bitcoin and sales of Bitcoin mining kit
http://kculshare.com/2014/01/chinas-top-e-store-bans-trading-of-bitcoin-and-sales-of-bitcoin-mining-kit

Is this the reason why the drop yesterday and today? Is China still have a big impact on the market?

[empoweoqwj]

Certainly doesn't help. But I think China has pretty much been discounted in full

[bryant.coleman]

Read somewhere that Taobao is owned by Alibaba. That explains everything.

[oakpacific]

I wish them great success trying to ban me from selling $500 postcards

[dave111223]

So does that mean no more computer sales?  No more GPU sales?

Does it extend to USB hubs...power supplies etc..?

[escrow.ms]

They didn't banned it yet.

"a search for “bitcoin” brings up nearly 4,500 results, mostly for Bitcoin sales and trading. All that will disappear later this month once the ban is put into place. "

[segeln]

Certainly doesn't help. But I think China has pretty much been discounted in full

so do I think
China does not affect BTC anymore that much

[empoweoqwj]

They didn't banned it yet.

"a search for “bitcoin” brings up nearly 4,500 results, mostly for Bitcoin sales and trading. All that will disappear later this month once the ban is put into place. "

Jan 31st to be exact

[LiteCoinGuy]

China’s top e-store bans trading of Bitcoin and sales of Bitcoin mining kit
http://kculshare.com/2014/01/chinas-top-e-store-bans-trading-of-bitcoin-and-sales-of-bitcoin-mining-kit

Is this the reason why the drop yesterday and today? Is China still have a big impact on the market?

think so yes.

[empoweoqwj]

China's impact is minimal now. We have had long enough to digest the news that the Chinese government doesn't want crypto. Other factors will drive the price now, particularly adoption / regulation in the US

[bitbouillion]

What's next? Will China finally ban cryptography?

[empoweoqwj]

What's next? Will China finally ban cryptography?

You'd need to ask the ruling committee on that one.

[qiwoman]

Of course in the short term Taobao Banning TC has affected the price but BTC is growing all over the place now and mainly CCP regulating heavily the use of BTC is because they want to avoid money laundering and secondly my idea is that because China owns Trillions of US debt if too much of those dollars are traded into BTC it could impact that making those US bonds even more worthless.