OldGeek
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Activity: 266
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Blitz:The price affects the perception of the news
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April 28, 2014, 08:01:19 AM |
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Sounds really good. Except for those who might relish their anonymity: Xapo complies with U.S. law by requiring its customers to provide proof of residency and identification before they can open an account. |
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Bitcoin mining is now a specialized and very risky industry, just like gold mining. Amateur miners are unlikely to make much money, and may even lose money. Bitcoin is much more than just mining, though!
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Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
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jl2012
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April 28, 2014, 08:01:29 AM |
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Interesting. I have read exactly the same notice from 1 3rd party processor and 2 banks. It is a canned statement written by the PBOC |
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JorgeStolfi
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April 28, 2014, 08:02:10 AM |
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...snip...
I don't think that opening accounts on exchanges outside China would be easy for a typical Chinese small businessman. Doing that sort of thing would require familiarity with the bitcoin technology and markets, not likely for such people.
...snip again...
I wonder, then, how arb is supposed to be working for the Chinese exchanges? There should not be many traders doing arbitrage; it does not seem to be a game for amateurs. Arbitragers could be people with a commercial foot on each side of the border, e.g. import-export firms; or partnerships between Chinese and non-Chinese traders. The scenario I was considering is when neither A nor B are regular bitcoin traders, just (say) a businessman who wants to bribe a government official in another town, and learns that there is a relatively safe way to do it using bitcoin. |
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y3804
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April 28, 2014, 08:03:22 AM |
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Interesting. I have read exactly the same notice from 1 3rd party processor and 2 banks . It is a canned statement written by the PBOCThen that's definitely scary for Chinese investors. Withdrawal channel ban + purchase of recharge code (literally any activity related to BTC)? Or did I read wrong? |
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OldGeek
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Activity: 266
Merit: 250
Blitz:The price affects the perception of the news
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April 28, 2014, 08:04:03 AM |
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...snip...
I don't think that opening accounts on exchanges outside China would be easy for a typical Chinese small businessman. Doing that sort of thing would require familiarity with the bitcoin technology and markets, not likely for such people.
...snip again...
I wonder, then, how arb is supposed to be working for the Chinese exchanges? There should not be many traders doing arbitrage; it does not seem to be a game for amateurs. Arbitragers could be people with a commercial foot on each side of the border, e.g. import-export firms; or partnerships between Chinese and non-Chinese traders. The scenario I was considering is when neither A nor B are regular bitcoin traders, just (say) a businessman who wants to bribe a government official in another town, and learns that there is a relatively safe way to do it using bitcoin. Yes. I edited my question. Thanks. |
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chessnut
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April 28, 2014, 08:04:48 AM |
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What is your source for news? Crazy that they also banned withdrawal channel! withdrawals of funds, purchase and sale of recharge codes related transactions and other activities not through my bank account funds transfer related transactions. Once found, the bank is entitled to take account transactions related to the suspension, cancellation related accounts and other measures. they banned withdrawals without notice? funny that! the easiest way to take funds out is with BTC now. |
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y3804
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April 28, 2014, 08:06:25 AM |
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It's the same message used by Alipay and China Merchants bank
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keithers
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This is the land of wolves now & you're not a wolf
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April 28, 2014, 08:07:00 AM |
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LTC/BTC ratio is so low right now. I think it is such a good time to diversify and get over 40 LTC per BTC. I think this is good for short, medium, and long term. You will almost certainly be able to flip back to more BTC later
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N12
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April 28, 2014, 08:08:29 AM |
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LTC/BTC ratio is so low right now. I think it is such a good time to diversify and get over 40 LTC per BTC. I think this is good for short, medium, and long term. You will almost certainly be able to flip back to more BTC later
"Diversify" from an asset into another correlated asset, only it is more volatile and has additional risk of its own. Brilliant! |
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y3804
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April 28, 2014, 08:11:52 AM |
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According to reports, PBOC requires commercial banks and third-party payment agencies to convey to the public that it no longer provides financial services to any Bitcoin transaction before May 10th "Bitcoin Beijing International Summit".
The deadline is real guys
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ErisDiscordia
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Imposition of ORder = Escalation of Chaos
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April 28, 2014, 08:12:22 AM |
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Poker players raise if they have 52/48 but not if it is 48/52.
Actually we raise if actual equity + fold equity (the chance that the other person folds) are >50. We call if our equity is high enough compared to what we are required to call/what is in the pot. It is OK to call a 10$ bet to win a 100$ pot if we only have a 15% chance to win  |
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manfred
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Energy is Wealth
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April 28, 2014, 08:12:54 AM |
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Just proves bitcoin works and it does what it is meant to do. |
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Erdogan
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April 28, 2014, 08:22:24 AM |
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According to reports, PBOC requires commercial banks and third-party payment agencies to convey to the public that it no longer provides financial services to any Bitcoin transaction before May 10th "Bitcoin Beijing International Summit".
The deadline is real guys
Sounds like publicity to me. |
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xulescu
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April 28, 2014, 08:33:17 AM |
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Based on my research, I don't believe we will see 435 ever again (Bitstamp). If someone is willing to bet (I naturally expect much better than 1:1 for me), PM please. Chart1 & Chart2. This is just the 2013-7-18 again. No looking back (when you least expect it). I had estimated that probability for 435 holding should be 10% in general public's eyes, but I thought it was 20%. So I would have taken 7:1 odds for me, and lost almost straight away.
Maybe you should refresh your prescription. Seems you suffer from an acute episode of 0 = 1. |
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Asrael999
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April 28, 2014, 08:41:43 AM |
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According to reports, PBOC requires commercial banks and third-party payment agencies to convey to the public that it no longer provides financial services to any Bitcoin transaction before May 10th "Bitcoin Beijing International Summit".
The deadline is real guys
the problem is you see that I have now seen this statement so many times it has cause me to now enter the realm of "bothered" - as in not bothered for those not familiar with the works of Catherine Tate or generic British colloquialisms |
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dreamspark
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April 28, 2014, 08:43:07 AM |
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According to reports, PBOC requires commercial banks and third-party payment agencies to convey to the public that it no longer provides financial services to any Bitcoin transaction before May 10th "Bitcoin Beijing International Summit".
The deadline is real guys
the problem is you see that I have now seen this statement so many times it has cause me to now enter the realm of "bothered" I think a lot of people have the same feeling but while everyone else is bothered its hard to not be. |
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windjc
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April 28, 2014, 08:58:50 AM |
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According to reports, PBOC requires commercial banks and third-party payment agencies to convey to the public that it no longer provides financial services to any Bitcoin transaction before May 10th "Bitcoin Beijing International Summit".
The deadline is real guys
Yeah, so now we get the interaction of 3 factors. First factor - non-chinese traders using Houbi for the zero-fee trading. These traders will stay assuming Houbi stays open. If liquidity gets too low, they will probably move to another exchange. Second factor - Chinese that want to keep their bitcoin. These will buy to transfer off exchange. Most of these probably have already bought, or will try to buy real low. Third factor - Chinese that want to withdraw and exit the game before deadline. These will cause price to continue to drop until May 10th. So, if you want to be a fool and believe, like Chessnut does, that these factors can only mean the price goes higher, buy now! But, if you a rational human being, you'll realize that this is bearish news. 2100 will be retested and probably destroyed. The market in China is still in denial. |
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ChartBuddy
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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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April 28, 2014, 09:00:56 AM |
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dreamspark
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April 28, 2014, 09:03:57 AM |
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I dont know about denial but these crazy people don't have a clue what they want  |
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lemonte
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April 28, 2014, 09:06:15 AM |
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According to reports, PBOC requires commercial banks and third-party payment agencies to convey to the public that it no longer provides financial services to any Bitcoin transaction before May 10th "Bitcoin Beijing International Summit".
The deadline is real guys
Now I'm really pissed off.. PBOC are clearly not content with ruining my week, now they are moving their "deadlines" to the weekend! What a horrible bunch. |
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