tarmi
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Activity: 1218
Merit: 1010
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March 31, 2014, 12:33:50 PM |
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probably for chinese traders and arbitrage, cause the news of china central bank ban could be real. They could do that anyway. True or not. So we still don't know about the situation about China? I think it's time to get some good translations. Aren't here Chinese people with good English skills? PS: I call it the bottom. Now the good news coming in. Kraken got 5mio. investment. Maybe we go touch the 400 or 410 on Stamp again, but definetly not below 400! I am all in now. send and withdraw cash from bitstamp? I dont think so. good for you that you are all in! |
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600watt
Legendary
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Activity: 2338
Merit: 2106
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March 31, 2014, 12:35:44 PM |
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porcupine87
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March 31, 2014, 12:37:54 PM |
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probably for chinese traders and arbitrage, cause the news of china central bank ban could be real. They could do that anyway. True or not. So we still don't know about the situation about China? I think it's time to get some good translations. Aren't here Chinese people with good English skills? PS: I call it the bottom. Now the good news coming in. Kraken got 5mio. investment. Maybe we go touch the 400 or 410 on Stamp again, but definetly not below 400! I am all in now. send and withdraw cash from bitstamp? I dont think so. good for you that you are all in! I don't send and withdraw cash. I buy/sell via bitcoin.de, so I send to/get from individuals per bankwire. Are there issues with Stamp? Relax... |
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electronistul
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March 31, 2014, 12:37:58 PM |
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There is a disturbing lack of train pics in this thread right now
I posted this a while back   ccmf ? |
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barbs
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March 31, 2014, 12:38:39 PM |
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KFR
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March 31, 2014, 12:53:49 PM |
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Kraken is registered, fully audited and based in Europe - a UK trading address with a German bank. On top of that I can add my own subjective experience that they're quick, efficient, reliable and have lots of features and a very slick interface. My impression of both their management and technical abilities is that it's lightyears beyond most crypto exchanges, but that's not as high praise as it should be of course.  Aren't they from San Francisco? Part of the Payward? And yes, they use Fidor bank, based in Munich. If you want a business account at Kraken, get ready for sending them tons of paper  I use it also... specially for pay out, because Kraken EUR is much higher than bitstamp USD. And I don't lose money on bank exchange fees Their address: Payward 548 Market Street #39656 San Francisco, CA 94104-5401 Ah thanks for that. Yup they're Payward. I actually found the verification process to be pretty slick. The address they use for EUR deposits shows as: One London Wall, London, EC2Y 5EB, United Kingdom |
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barbs
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March 31, 2014, 12:54:25 PM |
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It seems that shorts are closing.
It seems.
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ChartBuddy
Legendary
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Activity: 2212
Merit: 1779
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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March 31, 2014, 01:00:44 PM |
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podyx
Legendary
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Activity: 2338
Merit: 1035
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March 31, 2014, 01:01:45 PM |
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Looks like this slow uptrend I predicted is about to begin
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mooncake
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March 31, 2014, 01:04:28 PM |
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Looks like this slow uptrend I predicted is about to begin
I really want to see how low this can go. |
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EuroTrash
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March 31, 2014, 01:13:03 PM |
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I understand that to mean: any Chinese citizens who can send their CNY offshore (which turns them into CNH) can now deposit them directly to BTC-e, without converting them to EUR or USD first. That could be one option for Chinese citizens to put new money into the cryptocoin market. However it seems to be limited to 50,000 CNY/year for most people, is that correct? Chinese citizens who already have money in their Chinese exchange accounts would probably want to buy bitcoins there and export them to an account on BTC-e or any other exchange. I suppose that the PBoC would not mind, quite the opposite, if Chinese citizens withdraw CNH from BTC-e and bring them back into the mainland? If I see it your way, it means that the Chinese have a BTC/LTC-way to escape capital controls until April 15th. Also 50000 CNY is almost 6 grand in € which is not much to some of us western middle class spoiled people but it is a lot to small Chinese worker class that is desperate for investing into stores of value that are not debased/stolen by their own government. So if BTC-E provides them with a way to withdraw CNH, and if they can convert CNH to CNY easily, they could put some of their savings into crypto. Can any Chinese citizen here please confirm that this is the case? |
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el_rlee
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Activity: 1600
Merit: 1014
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March 31, 2014, 01:13:53 PM |
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Ooh, some new FUD at last. Bitstamp hit by localised apocalypse, withdrawals and deposits only possible through God.
source? |
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el_rlee
Legendary
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Activity: 1600
Merit: 1014
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March 31, 2014, 01:14:40 PM |
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I understand that to mean: any Chinese citizens who can send their CNY offshore (which turns them into CNH) can now deposit them directly to BTC-e, without converting them to EUR or USD first. That could be one option for Chinese citizens to put new money into the cryptocoin market. However it seems to be limited to 50,000 CNY/year for most people, is that correct? Chinese citizens who already have money in their Chinese exchange accounts would probably want to buy bitcoins there and export them to an account on BTC-e or any other exchange. I suppose that the PBoC would not mind, quite the opposite, if Chinese citizens withdraw CNH from BTC-e and bring them back into the mainland? If I see it your way, it means that the Chinese have a BTC/LTC-way to escape capital controls until April 15th. Also 50000 CNY is almost 6 grand in € which is not much to some of us western middle class spoiled people but it is a lot to small Chinese worker class that is desperate for investing into stores of value that are not debased/stolen by their own government. So if BTC-E provides them with a way to withdraw CNH, and if they can convert CNH to CNY easily, they could put some of their savings into crypto. Can any Chinese citizen here please confirm that this is the case? No. Every Chinese citizen can convert CNY to the equivalent of 50k USD per year without special requirements. |
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bitgeek
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March 31, 2014, 01:14:54 PM |
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Ooh, some new FUD at last. Bitstamp hit by localised apocalypse, withdrawals and deposits only possible through God.
source? His ass of course. |
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dreamspark
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March 31, 2014, 01:16:30 PM |
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Seems that Bitstamp deposits have begun to roll in |
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aminorex
Legendary
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Activity: 1596
Merit: 1029
Sine secretum non libertas
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March 31, 2014, 01:18:43 PM |
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Even the world's barren, someone your followers,
True love! |
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aminorex
Legendary
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Activity: 1596
Merit: 1029
Sine secretum non libertas
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March 31, 2014, 01:24:04 PM |
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No. Every Chinese citizen can convert CNY to the equivalent of 50k USD per year without special requirements.
That really not much per year sadly the limit is really pathetic Yeah thats only like 60 trillion dollars. Hardly enough for a decent world war or terraforming a planet. |
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JorgeStolfi
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March 31, 2014, 01:26:05 PM |
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Chinese citizens who already have money in their Chinese exchange accounts would want to buy bitcoins there and export them to an account on BTC-e or any other exchange.
Wont be much success what do you think
Sorry, I was thinking of those who wish to continue trading cryptos after April 15 (assuming the rumor is correct) and eventually cash some profits. More generally, they also have the options of withdrawing their money before April 15, or trading on the Chinese exchange forever without ever cashing out. |
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JorgeStolfi
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March 31, 2014, 01:27:48 PM |
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No. Every Chinese citizen can convert CNY to the equivalent of 50k USD per year without special requirements.
Thanks for the correction! |
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el_rlee
Legendary
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Activity: 1600
Merit: 1014
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March 31, 2014, 01:31:05 PM |
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No. Every Chinese citizen can convert CNY to the equivalent of 50k USD per year without special requirements.
Thanks for the correction! A source: http://www.chinalawblog.com/2012/07/on-getting-paid-from-china-is-there-really-a-50000-yearly-limit.html (but also heard that from the locals) Chinese citizens can convert and remit freely up to USD $50,000 equivalent per year. Conversions exceeding the USD$50,000 quota is still possible, but the citizen cannot complete it at a bank counter freely; he or she must apply to the local State Administration of Foreign Exchange for written approval. Chinese banks will not let the extra conversion go without seeing SAFE’s approval letter. However you have to open a special account, running in multiple currencies and deal with an overseas transaction which is far more work than a local wire which goes trough almost instantly and is done in a matter of minutes. Also receiving back money from the exchange, meaning receiving an overseas transaction might be a real pain... don't know about that exactly, would be interested myself. |
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