The inability to buy and sell Bitcoin in a convenient manner is brewing, that's what.
It looks like Chinese folks are already planning their post ban trading options and it's going to be a lot more ramshackle than their current choices. They may as well either stock up or get rid beforehand. There's going to be a lot more friction once it's in place.
Yeah, it sounds like Telegram OTC trading is one of the most likely options, given what I am hearing. That's crazy given what Chinese traders are used to. My friend in Shanghai said fiat withdrawals in and out of Okcoin took 10-15 minutes. Going from liquid order book exchanges to LocalBitcoins-style trading on Telegram? What a drag. I bet that, in time, the authorities will then ban Telegram.
Surely the Chinese government doesn't think they can stop people from trading cryptocurrency entirely?! What percentage of the population uses Facebook despite the blocked access, for instance?
Yes I agree people in china has to become freely despite of the resitance of the government, and I don't think exchanges can't be stopped now. I am certain people will eventually invest and will still trade their holding as there were many ways to access the net anonymously. So I believed another price surge will happened going october this year and hopefully we are at $5000 soon and success will come to all of us here.
At first, I thought that the government was just rolling out licensing and regulation. But now there are rumors that they want to block the entire P2P network within China, and promote the use of a blockchain currency issued by the Bank of China. I wonder how many Chinese people would really fall for such a bait-and-switch.
I don't get it. china declared that they're going to banned exchanges of coins from their country that's why people do panic selling that's why bitcoin had a big dump this past few days. and now they're buying ? hmm. I smell something from this scenario. im lucky because i didn't sell out my coins when bitcoin had a big dump under $3000.
One issue here is that it's going to be considerably more difficult for traders to buy/sell BTC. So those that want to use BTC to move to overseas exchanges need to do so sooner than later, before the exchanges shut down.
