Coindesk - China might have just killed BTC there.

[hilariousandco]

What can you buy with bitcoins? Drugs, and maybe a gun, that's about it.

LOL, really!! You can buy a lot more than just drugs and guns with Bitcoin! I use Gyft every weekend to spend my Bitcoins, and there is plenty of other places/ways to spend Bitcoin!

You can buy fake rubbery vaginas: http://www.cryptosextoys.com/fleshlights/fleshlight-girls

What can you buy with bitcoins? Drugs, and maybe a gun, that's about it.

LOL, really!! You can buy a lot more than just drugs and guns with Bitcoin! I use Gyft every weekend to spend my Bitcoins, and there is plenty of other places/ways to spend Bitcoin!

Don't feed the troll. Silk Road is gone. You can't even buy guns and drugs with it anymore.

Silk Road 2.0 has been up and running for over a month.

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[QuestionAuthority]

What can you buy with bitcoins? Drugs, and maybe a gun, that's about it.

LOL, really!! You can buy a lot more than just drugs and guns with Bitcoin! I use Gyft every weekend to spend my Bitcoins, and there is plenty of other places/ways to spend Bitcoin!

You can buy fake rubbery vaginas: http://www.cryptosextoys.com/fleshlights/fleshlight-girls

What can you buy with bitcoins? Drugs, and maybe a gun, that's about it.

LOL, really!! You can buy a lot more than just drugs and guns with Bitcoin! I use Gyft every weekend to spend my Bitcoins, and there is plenty of other places/ways to spend Bitcoin!

Don't feed the troll. Silk Road is gone. You can't even buy guns and drugs with it anymore.

Silk Road 2.0 has been up and running for over a month.

Swell, go ahead and feed the troll a nice big bag of oats.

[mister p]

What can you buy with bitcoins? Drugs, and maybe a gun, that's about it.

LOL, really!! You can buy a lot more than just drugs and guns with Bitcoin! I use Gyft every weekend to spend my Bitcoins, and there is plenty of other places/ways to spend Bitcoin!

right, but you can already buy this kind of goods with your credit card. So what's the point in converting your money to bitcoins, paying fees to the exchange places, to buy the same thing you could already buy with your credit card?

Let's be honest, biggest strength of bitcoin is you can buy anonymously online.

Let me ask people calling me a troll something : how can you be sure what's happening in China today won't happen in another country? How can you be sure people will put up with the hassle of getting bitcoins to buy a pizza they can already buy with their money?

I'll answer it for you, you don't know and nobody knows. Call me a troll, but you might as well be a clairvoyant that can predict the future.

[quone17]

Well, there was a positive article out too about the Swiss gov. being supportive of BTC and treating it just like any other foreign currency.  I think this is what we really want, BTC to be considered a currency instead of like a security/good, like the stock market or gold, right?

[FandangledGizmo]

Can anyone translate Chinese? There is an article on the BTC38 site and I think the gist of it is that these rumors may be fake.

http://www.btc38.com/btc/btc_market/476.html

Courtesy of google translate -

...microblogging certification Users "Li Wenbo" posted microblogging, has been deleted thereafter, another QQ members of the central bank had posted a fake PS notice as follows: QQ group members who posted sham notice Xiaobian deliberately opened the central bank "to pay liquidated Division "page ( http://www.pbc.gov.cn/publish/zhifujiesuansi/394/index.html ), did not this news. Rumor has no visible acting in order to do their utmost. Because in all kinds of superposition... Xiao Bian bit era you please customers keep their eyes open, be careful to avoid cross-check again and causing huge losses to be deceived by similar rumors

[QuestionAuthority]

Well, there was a positive article out too about the Swiss gov. being supportive of BTC and treating it just like any other foreign currency.  I think this is what we really want, BTC to be considered a currency instead of like a security/good, like the stock market or gold, right?

That's nice but what we want is volume.

[hilariousandco]

What can you buy with bitcoins? Drugs, and maybe a gun, that's about it.

LOL, really!! You can buy a lot more than just drugs and guns with Bitcoin! I use Gyft every weekend to spend my Bitcoins, and there is plenty of other places/ways to spend Bitcoin!

right, but you can already buy this kind of goods with your credit card. So what's the point in converting your money to bitcoins, paying fees to the exchange places, to buy the same thing you could already buy with your credit card?

I agree to some extent that buying goods with a giftcard is cheating slightly, but hopefully one day we'll be able to cut out the middleman and buy things directly without the need to convert to giftcards, but it's the best option there is at the moment to spend your coins on the highstreet.

[furezasan]

Another country should learn from this and change their stance before it's too late

[artiface]

What can you buy with bitcoins? Drugs, and maybe a gun, that's about it.

You can buy anything.  See http://www.gyft.com/, see https://www.joinsnapcard.com/, see https://btctrip.com/, see https://bitpay.com/directory#/
If you can't find a way to buy whatever it is you want with bitcoin then you didn't even try

[pAst4]

other blogs are talking about that article

http://btcltcnews.blogspot.it/2013/12/china-against-bitcoin-payment-companies.html

i don't know if the source is realistic or not, but what i know is that bitcoins on btc-e are now just red candles

[EnderHf]

Damn bitcoin price is sure going to drop like crazy but hopefully there are still some people that buy bitcoins in china since they are the reason we hit the 1000 dollar mark.

[laudub]

Who is sources?  Sources may be the most powerful bitcoin manipulator of all.

From what I read here Coindesk had also been advocating inputs.io as one of the most secure site ever if I'm not mistaken... Despite numerous people pointing out here why inputs.io wasn't the be-all end-all of security.

So I'm not exactly sure Coindesk is the epitomy of journalistic integrity.

And it's kinda bad that a single site, with a single rumor, no matter if it turns true or not, can have a -25% instant effect on the btc value 

I'm not saying they're not correct: but I'm taking it with a grain of salt.

[Byte_Me]

Can anyone translate Chinese? There is an article on the BTC38 site and I think the gist of it is that these rumors may be fake.

http://www.btc38.com/btc/btc_market/476.html

Courtesy of google translate -

...microblogging certification Users "Li Wenbo" posted microblogging, has been deleted thereafter, another QQ members of the central bank had posted a fake PS notice as follows: QQ group members who posted sham notice Xiaobian deliberately opened the central bank "to pay liquidated Division "page ( http://www.pbc.gov.cn/publish/zhifujiesuansi/394/index.html ), did not this news. Rumor has no visible acting in order to do their utmost. Because in all kinds of superposition... Xiao Bian bit era you please customers keep their eyes open, be careful to avoid cross-check again and causing huge losses to be deceived by similar rumors

If that's true, that's very devious 

[Cryptolator]

I see no problem with that, who cares if Chinese can't buy Bitcoins, the price will go down, we'll buy more coins and they'll be late to the party. What do you expect from a dictatorial government anyway?

[jubalix]

This looks like carefully organised FUD.

No official document like last time.


I await  the official document

and thanks for the cheap coins

[WillBit]

This looks like bullshit.

Second time in a couple weeks someone has posted some bullshit bearish sentiment about China here and started a sell-off.

Thanks for the cheap coins assholes!

[otsaku]

I see no problem with that, who cares if Chinese can't buy Bitcoins, the price will go down, we'll buy more coins and they'll be late to the party. What do you expect from a dictatorial government anyway?

From what I can glean from a very bad google translate Bitcoin and the exchanges aren't being banned.

It is the third party payment comapnies - in other words if you withdrawing bitcoin from an exchange account it has to go into your bank account directly.

Though I might be wrong because of the wording about the spring festival - but in my unqualified opinion the chinese are still in Bitcoin quite legally as long as they don't use any stop gaps between the exchange and their bank...

[Piper67]

This looks like bullshit.

Second time in a couple weeks someone has posted some bullshit bearish sentiment about China here and started a sell-off.

Thanks for the cheap coins assholes!

You have to understand they are INCREDIBLY new to the Bitcoin experience. Those of us who witnessed the MtGox crash of 2011, the pirate@40 crash of 2012, the accidental fork crash of March of this year and the crash of April know that Bitcoin is a lot more solid. But if you're a newbie who has put some money into bitcoins, and suddenly you hear all sorts of rumor and FUD, it'll shake you.

[e521]

Wait tomorrow and see if they release an official statements.
It's not a good news at all, it prevents capital from flowing into the market and substain the price

[otsaku]

Isn't it basically what the Swiss - on the surface - are advocating? Regulating Bitcoin as a currency.

Not that I believe the swiss would be adverse to the anonymity of the coin.