Fiyasko (OP)
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Okey Dokey Lokey
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December 06, 2013, 09:41:20 PM |
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Question is rather simple, Do you believe, based on your own information that you have gathered yourself, think that China has Banned bitcoin (making it illegal to trade)
The poll is really not much more than a way to guage the current mindset of "oh noes!, China banned bitcoin!, now whats next?!"
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Kluge
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December 06, 2013, 09:44:53 PM |
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I love that, over a day into the news, nobody seems to have any freakin' clue what's going on. We can't even get a clear translation, much less a clear legal interpretation. Did they ban vendors from accepting BTC, did they just ban BTC-denominated bank accounts, did they ban banks from dealing with businesses using bitcoins, did they ban bitcoin exchanges, did they clarify what bitcoins are as a taxable entity?
Are they just trying to kill bitcoin with regulatory uncertainty?
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hilariousandco
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Join the world-leading crypto sportsbook NOW!
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December 06, 2013, 09:45:25 PM |
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No, they didn't ban it.
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solex
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100 satoshis -> ISO code
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December 06, 2013, 09:51:03 PM |
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I love that, over a day into the news, nobody seems to have any freakin' clue what's going on. We can't even get a clear translation, much less a clear legal interpretation. Did they ban vendors from accepting BTC, did they just ban BTC-denominated bank accounts, did they ban banks from dealing with businesses using bitcoins, did they ban bitcoin exchanges, did they clarify what bitcoins are as a taxable entity?
Are they just trying to kill bitcoin with regulatory uncertainty?
Reddit has a lot of analysis on the text. Basically, "financial institutions", banks mostly, are banned from using/trading bitcoins, bank-created derivatives from it are banned. BTCChina etc are not included in this. Individuals and business CAN use it at their own risk. This is very significant as the Tencent QQ coin was banned outright. So Bitcoin is being tolerated to see where it goes, but only in the private sector. |
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BlackShadowX1
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December 06, 2013, 10:00:21 PM |
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Just financial institutions, not the people.
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NorbyTheGeek
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December 06, 2013, 10:37:04 PM |
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China said Bitcoin is not a currency, but a commodity.
Businesses are not allowed to accept Bitcoin for payment, but individuals may buy and trade Bitcoin as a commodity.
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Gabi
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If you want to walk on water, get out of the boat
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December 06, 2013, 10:40:55 PM |
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Just financial institutions, not the people.
Wich means selling and buying bitcoins in china suddenly is almost impossible. China is not a free nation. |
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solex
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December 06, 2013, 10:44:10 PM |
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Just financial institutions, not the people.
Wich means selling and buying bitcoins in china suddenly is almost impossible. China is not a free nation. China hasn't been a free nation for years, if ever. No change there. The btc exchanges are ok to continue operating, however. |
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freethink2013
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December 06, 2013, 10:46:04 PM |
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1. You cannot sell any item for btc
2. You can trade btc but you need to have you govt id on record
3. You can speculate on btc.
Hence the 'crash'
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vpitcher07
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December 06, 2013, 11:00:41 PM |
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I think the news out of China is bullish, but the market seems to disagree...
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Bitcoin: The currency of liberty
1HBJSf3Lm9i8KxjZ7fuoN9FJ8hniniFbv4
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501
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December 06, 2013, 11:45:52 PM |
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For those who don't know, China has also banned Facebook and porn, neither of which is exactly suffering from it. In the grand scheme of things, this means nothing regardless of whether they've banned it or not (which they haven't anyway).
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chalkyuk
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December 06, 2013, 11:56:07 PM |
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All smoke and mirrors  |
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pand70
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December 06, 2013, 11:56:32 PM |
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Why are you even doing a poll about that? It's not a matter of oppinion  China classified bitcoins as a commodity and said that it should not be used as a currency. Nothing more nothing less. |
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p2pbucks
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December 07, 2013, 12:01:34 AM |
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 You don't fully understand what's happening here because You guys don't live in china . Nothing really changes , just reassert CBC's position
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Ricke
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December 07, 2013, 12:03:14 AM |
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1. You cannot sell any item for btc
2. You can trade btc but you need to have you govt id on record
3. You can speculate on btc.
Hence the 'crash'
It would mean Bitcoin is useless in China. If the only thing I could do with something is to speculate, I could also start to speculate with tulps. Correct me if I'm wrong. |
Verkaufe Bitcoin gegen Bargeld (Wuppertal und Düsseldorf, Handel im öffenlichen Raum, z.B. bei McDonalds), privat zu privat und völlig anonym. Konditionen im Thread; Individualabsprachen möglich
(Ich mache mit Erstkontakten nur kleinere Handel, weiteres ja nach Kurs, Vertrauen, mein Bedarf, Ermessen und Situation)
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p2pbucks
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December 07, 2013, 12:13:19 AM |
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Just financial institutions, not the people.
Wich means selling and buying bitcoins in china suddenly is almost impossible. China is not a free nation. Do you live here using BTCC and OKcoin ? Dont be a troll |
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Digicoiner
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In Crypto I trust.
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December 07, 2013, 12:16:50 AM |
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I think they restricted Bitcoin's use in China - not an outright ban.
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gla22
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December 07, 2013, 12:21:11 AM |
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China has banned using bitcoin for what its intrinsic values are. Its like banning gold for use in jewlery, exchange and semiconductors and only allowing speculation. It is bad for bitcoin.
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marketorder
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December 07, 2013, 01:56:46 AM |
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Essentially yes! You can no longer fund your trading account with a bank, you no longer withdrawal your Bitcoin in your bank! All of the web sites in China that accepted Bitcoin no longer accept it. China says there citizens can still trade it but they made it impossible for them to do so! Essentially it's technically illegal to use Bitcoin in China!
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p2pbucks
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December 07, 2013, 02:09:05 AM |
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Essentially yes! You can no longer fund your trading account with a bank, you no longer withdrawal your Bitcoin in your bank! All of the web sites in China that accepted Bitcoin no longer accept it. China says there citizens can still trade it but they made it impossible for them to do so! Essentially it's technically illegal to use Bitcoin in China!
Sorry to disappoint ya, but We still can buy and sell BTC using exchanges like btcc and okcoin in China . besides baidu they are still many merchants accept BTC here. |
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Poll
