What does the China Bitcoin ban mean?

[nahtnam]

It means that the prices should decrease now

Which it is. Why did they ban BTC in the first place?

No banning at all, just explaining Banks cannot open Bitcoin accounts for people or buy/sell Bitcoin

Why? What was the reason behind all this?

[wearepoor]

Why? What was the reason behind all this?

Just to spread FUD, dump coins, panic sell starts and rebuy cheap coins. Simply profit

[nahtnam]

Why? What was the reason behind all this?

Just to spread FUD, dump coins, panic sell starts and rebuy cheap coins. Simply profit

Wow, so the reason behind this is money. I dont think they care even a tiny bit about bitcoin and the rest of the world.

[Bitcoin-hotep]

Hello Everyone,

For those of you who are looking to see the big picture of the effects of the December 5 People's Bank of China statement, you can check out www.squawkonomics.com for the post "Explaining the Regulatory Impact on Bitcoin in China". We have translated December 5th's People's Bank of China statement key points, and we continue to monitor developments coming out of the People's Bank of China and various other financial regulation bodies.

We hope this information can give you the big picture of what is happening inside China right now, and we will update you via our website if there is any further developments out of China as they come.

I knew this was just the beginning There is a video on YouTube called "What does China's Bitcoin ban mean?" that gave me some insight a few days ago.

[flyjames]

The market downtrend most likely due to panic sell by newcomers in China.

[Bitcoin-hotep]

The market downtrend most likely due to panic sell by newcomers in China.

Yeah I feel like when China came into bitcoin they were looking at it like we were when it was like $30 they expected growth like crazy compared to our speculations at the same time.

[shadyz]

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

Translate it with http://translate.google.bg/#en/it/

[Bitcoin-hotep]

Someone needs to open an exchange called "BTCIndia"

they would make so much money while also doing lots of good for BTC

[Bitcoin-hotep]

It means we stole a bunch of money from the Chinese and they are going home sad

But we can fix it by sharing this with them

https://bitcointalk.org/index.php?topic=364076.msg4021718#msg4021718