China just made Bitcoin pretty useless within China

[niothor]

So if one users posts some bad news about bitcoin he gets the bulling of his lifetime , ignores and other crap
If a troll posts some photoshoped bitcoin taxi in kenya he is praised as a god.

No offense but , we have a problem controlling zealots here.

Shut up stupid bear!

kiddinx

lmao. It's nice to be in a bullish community that understands the concept here, sick of arguing with other "citizens" about bitcoin being a ponzi and whatnot - that said, yes - sometimes reality is ignored here. I am a bitcoin turbobull but what can ya say? negative is just negative sometimes. That said,  I don't know how big of an effect this specific negative will have. Perhaps not as severe as some people think - certainly not zero as someone posted somewhere.

I don't care about china bans I don't care about BoA praising it , bullish news , bearish news .. doesn't matter to much in the final picture.
But when I see people throwing rocks of others , mentioning ignoring , because they have a different opinion , that is sad.
Bitcoin is about freedom , and that is just bullied here.

[maz]

So if one users posts some bad news about bitcoin he gets the bulling of his lifetime , ignores and other crap
If a troll posts some photoshoped bitcoin taxi in kenya he is praised as a god.

No offense but , we have a problem controlling zealots here.

No offense dude, but you've been quite the zealot yourself recently

Joseph Goebbels ain't got nothing on a bitcoin bull when it comes to propaganda, I tell you that.

[balanghai]

Seems to like China's underground economy will flourish and surface economy will look pale they might think if they allow BTC to roam freely.

[bootlace]

So if one users posts some bad news about bitcoin he gets the bulling of his lifetime , ignores and other crap
If a troll posts some photoshoped bitcoin taxi in kenya he is praised as a god.

No offense but , we have a problem controlling zealots here.

Ive been around here long enough to know what kind of reaction I was going to get. Still, after reading the positive spin both on Reddit and here I had to make a thread to discuss the severity of this news. Perhaps I've overly exaggerated, perhaps I will be proven right. Regardless, this kind of discussion needs to happen in a more civil manner as you say.

[Loki8]

So if one users posts some bad news about bitcoin he gets the bulling of his lifetime , ignores and other crap
If a troll posts some photoshoped bitcoin taxi in kenya he is praised as a god.

No offense but , we have a problem controlling zealots here.

Shut up stupid bear!

kiddinx

lmao. It's nice to be in a bullish community that understands the concept here, sick of arguing with other "citizens" about bitcoin being a ponzi and whatnot - that said, yes - sometimes reality is ignored here. I am a bitcoin turbobull but what can ya say? negative is just negative sometimes. That said,  I don't know how big of an effect this specific negative will have. Perhaps not as severe as some people think - certainly not zero as someone posted somewhere.

I don't care about china bans I don't care about BoA praising it , bullish news , bearish news .. doesn't matter to much in the final picture.
But when I see people throwing rocks of others , mentioning ignoring , because they have a different opinion , that is sad.
Bitcoin is about freedom , and that is just bullied here.

There are some greedy people who would not hesitate to go over corpses to get money.
Money makes some people crazy and bad and not sure that governments and banks are the worst...

[niothor]

So if one users posts some bad news about bitcoin he gets the bulling of his lifetime , ignores and other crap
If a troll posts some photoshoped bitcoin taxi in kenya he is praised as a god.

No offense but , we have a problem controlling zealots here.

No offense dude, but you've been quite the zealot yourself recently

Joseph Goebbels ain't got nothing on a bitcoin bull when it comes to propaganda, I tell you that.

Common , I've been labelled as paypal employee here in the last two weeks...
Shouting to Venus ( I like more venus than mars) is not being a zealot! I follow the party.
AND:
I don't have Coinseeker on my ignore and be ready for that .. I even quote him!!!!

[erre]

i just go all-in @ 1000 and didn't know that.
I will keep my btc anyway, chinese people is not really "legal-friendly" and hoarded for dollars when it was illegal.
Maybe this is the first BIG chanche for bitcoin to do what is it designed for: fuck off governments and free people

[Coinseeker]

I don't care about china bans I don't care about BoA praising it , bullish news , bearish news .. doesn't matter to much in the final picture.
But when I see people throwing rocks of others , mentioning ignoring , because they have a different opinion , that is sad.
Bitcoin is about freedom , and that is just bullied here.

Insecurity isn't solved with crypto-currency, unfortunately.

I don't have Coinseeker on my ignore and be ready for that .. I even quote him!!!!

 

[PenAndPaper]

So what does that leave behind? It's a 'digital commodity' with no intrinsic value. How useful!

Oh and this is just the beginning, China said it will keep a close eye on it and take further actions if necessary. If history is any indication with QQ coins, then its not looking good.

Intrinsic value is the buzz word of the last days, no doubt about it. If you think that a decentralized commodity and the best payment network in history has no intrinsic value then ok.

Also the notice indicates about further reviews on the matter. For all i know they may even declare bitcoin as a currency in the future.

[niothor]

I don't have Coinseeker on my ignore and be ready for that .. I even quote him!!!!

Talkin about the devil!

[eindbaas]

And what if all the goverments in the world will ban transactions from exchanges to banks ?

[Coinseeker]

And what if all the goverments in the world will ban transactions from exchanges to banks ?

It's not the governments...they are just the means by which to pass legislation.  If the global banking cartel takes a stand against Bitcoin or any crypto, the governments have no choice but to comply.  They are in debt to the banking cartel and thus are their slave.

People spend too much time focused on governments as bad and miss the real devil in the details.  You want to win this battle?  You have to beat the banks.

[ksteve96]

This reddit "translation" contradicts itself.  More of an opinion on the notice than a real translation really.

Anyone have the original, Chinese notice handy before I go looking for it? 

[bootlace]

This reddit "translation" contradicts itself.  More of an opinion on the notice than a real translation really.

Anyone have the original, Chinese notice handy before I go looking for it? 

http://www.pbc.gov.cn/publish/goutongjiaoliu/524/2013/20131205153156832222251/20131205153156832222251_.html

[niothor]

This reddit "translation" contradicts itself.  More of an opinion on the notice than a real translation really.

Anyone have the original, Chinese notice handy before I go looking for it? 

http://www.pbc.gov.cn/publish/goutongjiaoliu/524/2013/20131205153156832222251/20131205153156832222251_.html

"Notice" clearly the nature of Bitcoin that Bitcoin is not issued by the monetary authorities, such as not having sex with mandatory legal tender currency property, not the true meaning of money.
=))))))))))))))))))))))))))))))))))))))))))))))))0

[ksteve96]

This reddit "translation" contradicts itself.  More of an opinion on the notice than a real translation really.

Anyone have the original, Chinese notice handy before I go looking for it? 

http://www.pbc.gov.cn/publish/goutongjiaoliu/524/2013/20131205153156832222251/20131205153156832222251_.html

Thanks, sent it to my partner in SZ in case he didn't see it yet.  Can't wait to see what an actual Chinese person thinks of it.  

[PenAndPaper]

Seems to like China's underground economy will flourish and surface economy will look pale they might think if they allow BTC to roam freely.

Again bitcoin is not banned in china. For all i can read the notice seems like a giant warning about bitcoin being used as a currency.
Everyone that is into bitcoin for a while now knows that already, and that's why many bitcoiners just hoard! I think the notice aims those that are not so familiar with bitcoin and they think it's a good idea to start buying groceries with it.

[C10H15N]

All this FUD did was create a nice buying opportunity. 

[mogrith]

All this FUD did was create a nice buying opportunity. 

+1

Also if if they are using bitpay on a website but have bitpay pay the merchant in RMB would that be prohibited?

[bootlace]

All this FUD did was create a nice buying opportunity. 

Correct me if I'm wrong but this whole 10x increase was sparked on the back of Chinese demand. Now to say that this news is insignificant and 'oh we dont need China anyways' as some are suggesting is insincere. We don't know yet how this will affect Chinese demand going forward, it's certainly an important development to keep an eye on. The chance of going to stratospheric valuations through Chinese retirement/saving/ETF/hedge fund accounts investing in BTC though has been shut down.