CHINA MAKES BITCOIN LEGAL !!!

[bitcoinsweden]

Hello all.

China hasn't made bitcoins illegal by making it a commodity instead of a currency, it' the complete opposit, they made it legal. I repeat they made it LEGAL !!!

The western newspapers has got it totaly wrong and china are buying bitcoins like crazy after this annoncement , this more or less looks lika a propaganda war by the newspapers/banks against bitcoin.

PLEASE READ ABOUT THIS IN THE PAGE WWW.QUORA.COM AND WHAT JOSEPH WANG HAS TO SAY ABOUT THIS MISSUNDERSTANDING / LIE

this is a link to this webpage, There are more about bitcoin on this page, please read all of it.

http://www.quora.com/China/How-will-Chinas-recent-crack-down-on-Bitcoins-impact-its-near-term-and-long-term-value/answer/Joseph-Wang-9

Since I'm a newbee I cant post this in the other forums, please if you can, send this information so this lie about bitcoin and china stops before its to late. China are buying, it's us in the western world that are selling. Not the other way around.

Go to the page www.fiatleak.com to see for yourself, right now china are buying lika 95% of all bicoins and the rest of us are selling because of a missunderstanding / error in transation in the western newspapers.

STOP DOING THIS !!!!

Botcoinsweden

[Saevn]

You are right that they have made Bitcoins legal. However the official government stance is to treat it as a highly volatile speculative investment (Not a commodity which has to be represented by a physical good with intrinsic value that is derided from it's primary use, not its speculative value) Essentially the same way we perceive a stock. It is interesting to note that China has bought almost 60% of all the precious metal and hard commodity in the world at current, and are now allowing citizens to legally purchase bitcoins. The thing of it is they actually have things like GOLD and SILVER to back up the value of any currency - like a bitcoin - they choose which may start to reign in bitcoins value to something much more stable if enough chinese use it in daily transaction.

[bitmixer]

Finally someone understands that something traded for value based on individuals "valuation" means it's commodity, not currency.

[Open4lies]

Thank you for the links. I believe most here understand there is nothing like China bans Bitcoin.

[Electrolytez]

Thank you for the info!

[cdtc]

I dont it its a mistake in translation, someone is making people panic
on purpose so they can profit.

[merv77]

thanks, you made my day 
Cheers

[macher]

I dont it its a mistake in translation, someone is making people panic
on purpose so they can profit.

if you want to buy cheap BTC, than panic is very good for you and who needs btc in low price...? think

[Pascal Parvex]

Ah. I read that banks in China are now allowed to trade in Bitcoins. What about that?

[macher]

Ah. I read that banks in China are now allowed to trade in Bitcoins. What about that?

huh? the last info told, that china banks cant trade in BTC. where you find info, that they can?

[nahtnam]

Why did they "ban" bitcoins? Baidu made bitcoin what it is now!

[Ardenyham]

Ah. I read that banks in China are now allowed to trade in Bitcoins. What about that?

No they cant and never will, but dont worry, Banks dont sell/buy Gold or other precious metals as well...

[torealise]

maybe some of you can tell me? is there some bank that has IBAN and has bitcoin funds ?

[PenAndPaper]

I think this thread will be the catalyst for bitcoin to skyrocket once again!  

[torealise]

i belive that china will do all to make bitcoin legal currency. all world will do it. but in my country, in Ukraine, i would say, no one knows about bitcoin trend. it is sad

[vertebrae]

Thank you, dude !

Anyway, any news, bad or good are great for Bitcoin. Even if China will close Bitcoin on the Great Chine's Firewall it will be a gorgeous bump for Bitcoin.

[nerFohanzo]

maybe some of you can tell me? is there some bank that has IBAN and has bitcoin funds ?

I doubt 
You have to use exchanges to buy Bitcoin

[matlost]

This is great news for two reasons:

1. It's explaining the sudden drop of BTC in the last days
2. Provided that Josep Wang's info is true, this is a relief for non-traders that had some BTC, lately built, in their wallet.

If I remember correctly, I read in an Italian news website that the national Chinese TV reported the opening of the first BTC ATM in Canada, and that this should be considered a good endorsement for the currency/commodity (the government still cannot officiallly accept it, so it should be considered as the maximum possible endorsement for BTC to get).

[Jcw188]

Yes I think it's perhaps neutral news for btc.  China did not make btc illegal but it could easily try to, that is something China would be more likely to try than the US I think.  I mean China has a "great firewall" and they could try banning all btc related websites.

[elmagsound]

Thank You