China banned bitcoin. When will it crash? Win 0.1 BTC

[Wilhelm]

China DID NOT BAN BITCOIN. You are right.
BUT BAIDU STOPPED ACCEPTING BITCOINS. If you can't see that there is an issue here then you are a bigger idiot than all of those that think that bitcoin is banned in china. No offence.

I think that has a lot more to do with specific implementation difficulties Baidu was having, and lack of interest among its particular customer base.  These preceded the bank news.

Is this bank stuff an issue?  Of course.  I just don't think it's as much of an issue as you think.

For a bank to adopt a new technology would mean developing new methods, procedures and IT instruments. These projects can take years to complete properly.
I believe banks will adopt crypto currencies but they need time to start and complete the necessary projects to get there. And they need to adhere to the laws if any exist.
If not laws need to be made first, we all know that can take years too.

As you can see alot of work has to be done, decisions to be made, financial structure reform, this doesn't mean the have permanently stopped bitcoin from succeeding it will just take a few years before they can adopt.

[PenAndPaper]

China DID NOT BAN BITCOIN. You are right.
BUT BAIDU STOPPED ACCEPTING BITCOINS. If you can't see that there is an issue here then you are a bigger idiot than all of those that think that bitcoin is banned in china. No offence.

I think that has a lot more to do with specific implementation difficulties Baidu was having, and lack of interest among its particular customer base.  These preceded the bank news.

Is this bank stuff an issue?  Of course.  I just don't think it's as much of an issue as you think.

That is just speculation. The fact that the bitcoin address is no longer in a baidu page is a fact.

For a bank to adopt a new technology would mean developing new methods, procedures and IT instruments. These projects can take years to complete properly.

Kids can develop those in their basement in just a few days and bank can't? Don't try to find something else than the obvious reality here.

[papaminer]

China banned China.

[darkmule]

That is just speculation. The fact that the bitcoin address is no longer in a baidu page is a fact.

So panicking about it is pretty premature, isn't it, since all that anyone can say about it amounts to speculation.

[bitcool]

All those Chinese companies announcing accepting bitcoins were just for show, nothing more.

It's a good thing they moved away searching for the next eyeball  attracting fad. We need companies with real intention doing business in btc, probably much smaller ones.

[Davyd05]

China DID NOT BAN BITCOIN. You are right.
BUT BAIDU STOPPED ACCEPTING BITCOINS. If you can't see that there is an issue here then you are a bigger idiot than all of those that think that bitcoin is banned in china. No offence.

I think that has a lot more to do with specific implementation difficulties Baidu was having, and lack of interest among its particular customer base.  These preceded the bank news.

Is this bank stuff an issue?  Of course.  I just don't think it's as much of an issue as you think.

That is just speculation. The fact that the bitcoin address is no longer in a baidu page is a fact.

For a bank to adopt a new technology would mean developing new methods, procedures and IT instruments. These projects can take years to complete properly.

Kids can develop those in their basement in just a few days and bank can't? Don't try to find something else than the obvious reality here.

...uh.. so Baidu announced it self censored to avoid any clashes with the gov't.

Yes it takes banks a lot longer than one single person in his basement (give me some example of kids developing new procedures and IT instruments in their basements.. last guys I knew who did that were Bill Gates and his buddy at apple, by no means were they "kids"). They have regulations, investors, corporate structures and bureaucracy not to mention they try and make money off of you while holding all your money.. I know for a fact that a lot of the systems in Canada for bigger banks are outdated and a lot of work is required by humans to bridge the gap a simple hardware + software upgrade would solve.

[PenAndPaper]

That is just speculation. The fact that the bitcoin address is no longer in a baidu page is a fact.

So panicking about it is pretty premature, isn't it, since all that anyone can say about it amounts to speculation.

Panic or not is another thing. After all it's not panic if you are the first one to leave. And that's what smart people did.
Sheeps on the other hand either hold their coins and prayed to god or sold at 700$ and 600$?.

[darkmule]

Panic or not is another thing. After all it's not panic if you are the first one to leave. And that's what smart people did.
Sheeps on the other hand either hold their coins and prayed to god or sold at 700$ and 600$?.

$600 is where I bought back in.

ETA:  $610 actually.

[PenAndPaper]

Panic or not is another thing. After all it's not panic if you are the first one to leave. And that's what smart people did.
Sheeps on the other hand either hold their coins and prayed to god or sold at 700$ and 600$?.

$600 is where I bought back in.

ETA:  $610 actually.

Let me guess. You sold at 1200 right? 

[darkmule]

Panic or not is another thing. After all it's not panic if you are the first one to leave. And that's what smart people did.
Sheeps on the other hand either hold their coins and prayed to god or sold at 700$ and 600$?.

$600 is where I bought back in.

ETA:  $610 actually.

Let me guess. You sold at 1200 right? 

I checked, was actually $1,150.  So sue me.

[rikkejohn]

Sunday 14th December, 2 p.m. GMT

[jones31]

With this , I assume we have no winner?
Either way , if bitcoin was going below 100 or worse , that would have been a worthless prize.