China just made Bitcoin pretty useless within China

[FormerlyAnonymous]

I'm not particularly bullish/bearish in the mid term, but even so, I'm personally inclined to interpret major news outlets and government agencies expending their time and energy drafting carefully worded tracts explaining why bitcoin is a ponzi scheme, can't possibly work, should be banned or strictly regulated, is going to crash soon, etc., as a bullish indicator.

[bootlace]

Reports coming that Baidu/China Telecom have stopped accepting Bitcoin. All those people who badmouthed me can kiss my a$$.

[niothor]

Reports coming that Baidu/China Telecom have stopped accepting Bitcoin. All those people who badmouthed me can kiss my a$$.

Baidu and China Telecom never accepted Bitcoin.
There was a small service from a company acquired by Baidu this year and a local dealer of China Telecom.

[bootlace]

Reports coming that Baidu/China Telecom have stopped accepting Bitcoin. All those people who badmouthed me can kiss my a$$.

Baidu and China Telecom never accepted Bitcoin.
There was a small service from a company acquired by Baidu this year and a local dealer of China Telecom.

You know what I mean

[Coinseeker]

Reports coming that Baidu/China Telecom have stopped accepting Bitcoin. All those people who badmouthed me can kiss my a$$.

Baidu and China Telecom never accepted Bitcoin.
There was a small service from a company acquired by Baidu this year and a local dealer of China Telecom.

It's the signal that these companies are pulling out that is significant.  Especially on the heels of yesterdays news.  People can try to down play it if they want and maybe it will turn out to be no big deal but me thinks there is nothing bullish about this.  China is largely responsible for this run up to $1k+ so if they are backing out, where does that leave the true value of Bitcoin?

[HappyBitCoinUser]

tl;dr

So China created this bubble? They all got in (price goes up) and now they want out due to laws or regulations (price goes down).

Sorta funny actually.

[pera]

tl;dr

So China created this bubble? They all got in (price goes up) and now they want out due to laws or regulations (price goes down).

Sorta funny actually.

and we are going to see things like this happening "hundred" of times in the future, but bitcoin we'll win at some point

[ksteve96]

Well, my business partner in China read the article and got back to me.

Here is a direct quote from a Chinese business man in China

"That is Remind dangerous  only. No constraints  .so btc is ok for china "

[PenAndPaper]

Well, my business partner in China read the article and got back to me.

Here is a direct quote from a Chinese business man in China

"That is Remind dangerous  only. No constraints  .so btc is ok for china "

Baidu already stopped accepting bitcoins. And unfortunately baidu's decisions have more impact to the price than your friend 

[ksteve96]

Well, my business partner in China read the article and got back to me.

Here is a direct quote from a Chinese business man in China

"That is Remind dangerous  only. No constraints  .so btc is ok for china "

Baidu already stopped accepting bitcoins. And unfortunately baidu's decisions have more impact to the price than your friend 

I'm not trying to impact price.  Thanks for jumping to the conclusion that I'm naive enough to think a short statement like that would make a difference.
All I'm saying is that the western interpretation is not in line with the Chinese interpretation. 

[dropt]

Reports coming that Baidu/China Telecom have stopped accepting Bitcoin. All those people who badmouthed me can kiss my a$$.

You really need to read more than headlines, you just keep making yourself look like a fool.

[T.Stuart]

Until it gets banned outright it's not useless to the Chinese at all. 99% of them are investing in bitcoin as if they were opening a high-interest savings account. That won't stop until an outright ban, which is not on the table at the moment.

[beaconpcguru]

Reports coming that Baidu/China Telecom have stopped accepting Bitcoin. All those people who badmouthed me can kiss my a$$.

Baidu was accepting a 10% preorder on one specific model of phone.  A whopping 1.6 btc was received by them, conclusion = no effect anyway

[niothor]

Reports coming that Baidu/China Telecom have stopped accepting Bitcoin. All those people who badmouthed me can kiss my a$$.

Baidu was accepting a 10% preorder on one specific model of phone.  A whopping 1.6 btc was received by them, conclusion = no effect anyway

Baidu?
Wasn't that a retailer of China telecom ?

[beaconpcguru]

Reports coming that Baidu/China Telecom have stopped accepting Bitcoin. All those people who badmouthed me can kiss my a$$.

Baidu was accepting a 10% preorder on one specific model of phone.  A whopping 1.6 btc was received by them, conclusion = no effect anyway

Baidu?
Wasn't that a retailer of China telecom ?

They were offering to do 10% down payment on a phone and you they host a "cloudflare" like service that was available too.  If anything about their received balance tells me that China is not buying BTC to spend

[PenAndPaper]

Well, my business partner in China read the article and got back to me.

Here is a direct quote from a Chinese business man in China

"That is Remind dangerous  only. No constraints  .so btc is ok for china "

Baidu already stopped accepting bitcoins. And unfortunately baidu's decisions have more impact to the price than your friend 

I'm not trying to impact price.  Thanks for jumping to the conclusion that I'm naive enough to think a short statement like that would make a difference.
All I'm saying is that the western interpretation is not in line with the Chinese interpretation. 

And all i 'm saying is that the the only valid chinese interpretation is baidu's interpretation. And baidu decided to remove bitcoins because they don't want to use it anymore as a currency for services.

[bootlace]

Reports coming that Baidu/China Telecom have stopped accepting Bitcoin. All those people who badmouthed me can kiss my a$$.

You really need to read more than headlines, you just keep making yourself look like a fool.

Look like a tool? Im the first person on these forums to call this China thing major bad news and predict a slide down to the mid hundreds. Now go troll somewhere else idiot.

[niothor]

Reports coming that Baidu/China Telecom have stopped accepting Bitcoin. All those people who badmouthed me can kiss my a$$.

You really need to read more than headlines, you just keep making yourself look like a fool.

Look like a tool? Im the first person on these forums to call this China thing major bad news and predict a slide down to the mid hundreds. Now go troll somewhere else idiot.

Modesty at it's best.

[bootlace]

Reports coming that Baidu/China Telecom have stopped accepting Bitcoin. All those people who badmouthed me can kiss my a$$.

You really need to read more than headlines, you just keep making yourself look like a fool.

Look like a tool? Im the first person on these forums to call this China thing major bad news and predict a slide down to the mid hundreds. Now go troll somewhere else idiot.

Modesty at it's best.

Lets see if I got this right.

China releases announcement.
Everyone circle jerks over how this is actually good news (http://imgur.com/3TAAoon)
I come on here and make the first real thread saying why this is bad news and implications.
I get crucified, called a bunch of names, ignored, etc
A day later I stick by my guns and predict that price will slide down to mid hundreds.
Several hours later Chinese vendors remove BTC pricing (as I predicted).
BTC crashes to mid hundreds.
Now I come on here and see people are still talking shit about me?!


Cmon man, what you want me to say at this point..

[MikeyVeez]

Reports coming that Baidu/China Telecom have stopped accepting Bitcoin. All those people who badmouthed me can kiss my a$$.

You really need to read more than headlines, you just keep making yourself look like a fool.

Look like a tool? Im the first person on these forums to call this China thing major bad news and predict a slide down to the mid hundreds. Now go troll somewhere else idiot.

Modesty at it's best.

Lets see if I got this right.

China releases announcement.
Everyone circle jerks over how this is actually good news (http://imgur.com/3TAAoon)
I come on here and make the first real thread saying why this is bad news and implications.
I get crucified, called a bunch of names, ignored, etc
A day later I stick by my guns and predict that price will slide down to mid hundreds.
Several hours later Chinese vendors remove BTC pricing (as I predicted).
BTC crashes to mid hundreds.
Now I come on here and see people are still talking shit about me?!


Cmon man, what you want me to say at this point..

Bootlace you have to realize the majority of forum members come from deprived 3rd and 4th world countries you have to excuse their mental capacity. All they understand is Bitcoin made money Bitcoin good. They think Bitcoin will live forever where 9 out of 10 times the first company in a new industry gets replaced. Let them enjoy their stupidity and we can come back a few years later and abuse them.

If they haven't moved on to the next greatest thing that will never get replaced because its the greatest in history and nothing can replace it.