What does the China Bitcoin ban mean?

[kekky]

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.

[Itun]

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.

Nice job.

It's helpful to see how the other side of the world is taking btc.

Is this the website admin's account? I saw that you wrote "we."

[Calarye5]

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.

Thanks for the translation.

[Steam20]

Hi guys. this is my first post, so hi all )

Well, nothing goes up in a straight line, bitcoin will have its ups and Downs. What will be important is what will happen in China in the years to come i guess.
I would expect bitcoin to fluctuate between 500 and 1000 for at least some days to come, so dont expect this to go much higher any time soon.

I feel sorry for those that bought at 1200, they must really be feeling the pain right now, still those who bought at 10 or lower must be laughing all the way to the bank LOL.

What are Your expectations going forward...

Have a Nice sunday.

[Trisser]

it mean we got cheap bitcoin now  : )

[lindeanin]

There is no "China Bitcoin ban", they just said it was a commodity and not fiat.

Yes, but merchant cannot list prices in Bitcoin if I understand right

[TiagoTiago]

If those Squawkonomics translations are correct, then it's a bit more serious than i was led to believe. Though who is the issuer of bitcoins? Satoshi Nakamoto?


Everything i had read before this that had any credibility said individuals still had every freedom they had had before (with the exception of using Bitcoin exchanges anonymously), and the restrictions only applied to banks and governmental entities, and private companies were advised there was the need of further investigation to evaluate Bitcoin's financial risk/benefit to them.

[TiagoTiago]

But either way, Bitcoin can only be stopped by something better; and nothing of the sort has come up so far.

[EskimoBob]

I found some good articles and YouTube videos with this search
https://www.google.com/search?newwindow=1&site=&source=hp&q=what+does+the+china+bitcoin+ban+mean&oq=what+does+the+china+bitcoin+ban+mean&gs_l=hp.3...1888.7941.0.8300.38.16.1.0.0.0.1014.3244.9j2j1j5-1j1j1.15.0....0...1c.1.32.hp..31.7.1045.Bwclj-0O3s4

Ban? What ban are you talking about?

[GhanaGamboy]

But either way, Bitcoin can only be stopped by something better; and nothing of the sort has come up so far.

So many coins tried, and it doesnt seems likely any one could overtake Bitcoin.

[PenAndPaper]

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.

But starting a thread named "what does the china bitcoin ban mean?" doesn't look like you are monitor any developments whatsoever.
There isn't any china ban after all 

[alexb___]

bitcoin in the facebook of crypto, litecoin is google+, there are other social media that coexist, but for now... bitcoin is the facebook...

[Saladface]

My first post, but been lurking on these forums since the beginning of the year

Post China news in reality not that much is different atm. They would have been looking long and hard at Bitcoin for a while, its just we weren't aware of it. The $1200 prices were (imo) based on the opinion 'China loves Bitcoin'. Now we are in a more realistic place. Obviously the big thing is can Bitcoin be used as an actual currency there? It seems like it might be ok, so long as financial institutions aren't involved (which is how Bitcoin works). You could (if you were optimistic) take this announcement as 'China makes Bitcoin legal for its people'. Think maybe thats pushing it too far though as the announcement seems to carry the subtext of 'we are watching this very closely and haven't decided yet'

I think the best indicator we have is the Chinese market. Presumably the Chinese investors in Bitcoin will have a better understanding of the implications, as they will be able to better read the subtleties (not just because of the language, but because of experience living with the govt). That it hasn't crashed lower is encouraging imo. Long term price wise, tempted to write it of as insignificant. Bitcoin just needs to make it in a few countries, and the competitive advantage should force the others to play ball.

[whorehay]

Another factor in the recent dip could be Baidu ending it's bitcoin acceptance. It's hard to say which is contributing more to the panic selling. Either way, great time to buy in, as neither of these events really change the value that bitcoin is bringing to the world.

[PenAndPaper]

bitcoin in the facebook of crypto, litecoin is google+, there are other social media that coexist, but for now... bitcoin is the facebook...

Actually bitcoin is facebook google+ myspace and pretty much everything else together 

[Bitcoin-hotep]

I think giving your kids a bunch of the very cheapest Altcoin is the best gift idea.

Yes! And I'd recommend going heavy on Goldcoin!  

In Satoshi's last and final post before abandoning Bitcoin and running off with well over 1 million Bitcoins, he said "there are still more ways to attack us than I can count". Bye, LOL.

https://bitcointalk.org/index.php?action=profile;u=3;sa=showPosts;start=0

Well our development team has been working feverishly to solve the riddle that drove Satoshi underground. This announcement was just made privately on our forum a few hours ago: https://www.gldtalk.org/index.php?topic=1748.0

Come check out Goldcoin and discover the new Gold Standard of the Crypto Universe.      



..
..


Oh yeah...and check out my latest video! vvvvvvvvvvvvvv  

I've been hearing something about companies making coins and that once that happens Bitcoin will be a fact of life. The answer to the riddle is altcoins reaching their potential.

[Bitcoin-hotep]

There is no "China Bitcoin ban", they just said it was a commodity and not fiat.

There was a ban if you read the articles. It was banned from banks which was not a problem before. It is still allowed to be traded but you aren't supposed to buy real world items with it. The Chinese government declared it to be like WoW gold.

But if you watch the videos on YouTube you will see that China is probably going to start making other announcements soon that will bring even more attention to bitcoin.

The only reason the price is low is because the Chinese government and the whales want to get cheap coins before it blows up.

[nahtnam]

It means that the prices should decrease now

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

[Bitcoin-hotep]

This means that the demand for btc gets lowered (especially in the Chinese market).

Because China was the main force that started this bubble, it was able to bring it down.

We just need to get Bitcoin to catch on in India now, they have just about as many people and commerce as China.

[Ardenyham]

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