Latest "China" *announcement* carefull "FUD"...& coindesk continued it??

[Eri]

http://www.coindesk.com/bitcoin-china-statement-interpretation/

I think this article is what your looking for.(china isnt banning bitcon)

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[laowai80]

There is a need to spread some FUD, just like Sun Tsu said some 2500 years ago to disorient the enemy, and that's exactly what they are doing. Make no mistake, crypto currencies are an enemy of any central bank, they can't ban it right away, because that'd look very suspicious and make people ask too many questions, but they will be spreading FUD about them all the time, it's a war. If you can't stand the heat, get out of the kitchen, it's simple as that

[crazy_rabbit]

Just going to ask the obvious here.  So if 3rd party financial institutions are banned from working with bitcoin exchanges, and so are banks, then how do people move fiat into and out of the exchanges?

I feel like something was lost in translation here.  Either the chinese exchanges are going to basically die, or a there's a bit of a misunderstanding and they can still be used by another route. 

Another problem is that many here have a very vested emotional interest in a biased interpretation of the news.  Cold hard facts would be nice.

They are going to basically die or move to new jurisdictions, like Hong Kong. It's not FUD, it's true, you can read it in any of the Chinese news sources. The market has already reacted to it, especially in China where it plunged. Now people are thinking what comes next.

[coastermonger]

I'm basically looking for any other chinese news source that doesn't reference this:

http://www.yicai.com/news/2013/12/3234984.html  

The original article authored by Yan Xiangjun

[enric]

okcoin statment for today

https://www.okcoin.com/t-1005042.html

and reddit news:
http://www.reddit.com/r/Bitcoin/comments/1t2iay/okcoincom_present_situation_in_china_to_clear/

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Funding account with RMB using your bank card through paygate Yeepay is for free without any fees and works fine. Until today they were using paygate Tenpay, today they switched to same as BTCChina.

Withdrawing RMB is possible only to your chinese bank account where you must enter your name and your bank account (no anonymous withdrawals), withdrawal fee is 1% of transfered amount, minimum 2RMB and minimum amount to withdraw is 100RMB.

OKCoin today followed BTCChina and introduced 0.3% transaction fee for your buy/sell orders and it's charging 0.0001BTC to withdraw BTC to different BTC address. At 1PM local time there is no lag on the market.

EDIT: Only official statement from OKcoin today:

https://www.okcoin.com/t-1005042.html

3rd party processors should be really forbidden to manipulate with money related to bitcoin (which would explain why BTCChina switched today from Alipay processor (by far almost monopoly in China like Paypal in US) to Yeepay and why OKcoin switched from Tenpay (2nd biggest owned by Tencent, owner of biggest IM ntwork in world QQ) processor to Yeepay), but you can still fund/withdraw directly with your Chinese bank account which works fine even today both ways and it's instant when funding (when withdrawing it always took longer like 1-3 days). Nothing else about end of this in Spring festival (end of January 2014). Most of the announcement tell people to be reasonable, use common sense and explain why they had to introduce 0.3% transaction fee after zero fees until now. Most of the responding Chinese don't care at all to ask about those rumors and just discuss fees.

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So Btcchina and okcoin changed of payment processor to Yeepay because is better and added fees. But nothing is banned.

[Hugroll]

Theres nothing banned it just some rumors and panic sell

[stompix]

Isn't there one single chinese speaking individual in the whole western world who's able to translate these rumours etc. into understandable English 

It happened also the last time and I don't understand why!
We have a subforum for chinese speaking  and even some moderators for these. Isn't there at least one person who can speak both chinese and english?

I'm getting tired of those rumors and everyone asking what it really means endlessly.

[AnonyMint]

Just going to ask the obvious here.  So if 3rd party financial institutions are banned from working with bitcoin exchanges, and so are banks, then how do people move fiat into and out of the exchanges?

I feel like something was lost in translation here.  Either the chinese exchanges are going to basically die, or a there's a bit of a misunderstanding and they can still be used by another route.  

Another problem is that many here have a very vested emotional interest in a biased interpretation of the news.  Cold hard facts would be nice.

Why are you guys so slow minded?

The exchanges can still have bank accounts. You send fiat to/from their bank account. The Bitcoin never goes into the bank accounts.

[AnonyMint]

emunie solves the anonymity problem

Where is that documented?

I seriously doubt that. I know of only one way to solve it, other than the new way to do physical crypto-coins which I recently proposed.

[Mjbmonetarymetals]

I dont see any change in the status quo - america wakes up sells goes to bed, china wakes up buys go to sleep - rinse repeat.

[lindatess]

Just going to ask the obvious here.  So if 3rd party financial institutions are banned from working with bitcoin exchanges, and so are banks, then how do people move fiat into and out of the exchanges?

I feel like something was lost in translation here.  Either the chinese exchanges are going to basically die, or a there's a bit of a misunderstanding and they can still be used by another route.  

Another problem is that many here have a very vested emotional interest in a biased interpretation of the news.  Cold hard facts would be nice.

Ban not enforced yet, but many banks are starting to pull out.

Therefore, there is still time for the chinese to withdraw CNY.

----

And for those who kept quoting my post and writing other phony things, that's not even part of the discussion in the other thread. The legal document was open for interpretation and it seems it is skewed towards supporting PBOC policies.

This is not aimed at the post I'm quoting.

[AnonyMint]

And for those who kept quoting my post and writing other phony things, that's not even part of the discussion in the other thread. The legal document was open for interpretation and it seems it is skewed towards supporting PBOC policies.

This is not aimed at the post I'm quoting.

When are you all going to get a fscking clue!

The powers-that-be in all countries are pulling us towards a Technocracy where they will tax and track everything.

The lack of assured anonymity in current crypto-currencies is how they are able to accomplish this 666 tracking result.

Bitcoin is part of the plan to bring us to this tracking result. It is not our savior rather it was planted to suck us in.

It is up to us if we want to grab the moment, and make an anonymous crypto-currency that will defeat the global plan.

[lindatess]

Even more evidence of my argument...

http://www.businessweek.com/news/2013-12-18/btc-china-says-it-can-t-accept-new-deposits-for-bitcoin-trading

Everyone needs to understand how the governments operate...

[Bitcoinpro]

There is a need to spread some FUD, just like Sun Tsu said some 2500 years ago to disorient the enemy, and that's exactly what they are doing. Make no mistake, crypto currencies are an enemy of any central bank, they can't ban it right away, because that'd look very suspicious and make people ask too many questions, but they will be spreading FUD about them all the time, it's a war. If you can't stand the heat, get out of the kitchen, it's simple as that

Crypto is a great addition to the fiat, gold, economic model, central banks are in no way an enemy.

[Bitcoinpro]

And for those who kept quoting my post and writing other phony things, that's not even part of the discussion in the other thread. The legal document was open for interpretation and it seems it is skewed towards supporting PBOC policies.

This is not aimed at the post I'm quoting.

When are you all going to get a fscking clue!

The powers-that-be in all countries are pulling us towards a Technocracy where they will tax and track everything.

The lack of assured anonymity in current crypto-currencies is how they are able to accomplish this 666 tracking result.

Bitcoin is part of the plan to bring us to this tracking result. It is not our savior rather it was planted to suck us in.

It is up to us if we want to grab the moment, and make an anonymous crypto-currency that will defeat the global plan.

Its not as bad as your making it sound really.

[AnonyMint]

And for those who kept quoting my post and writing other phony things, that's not even part of the discussion in the other thread. The legal document was open for interpretation and it seems it is skewed towards supporting PBOC policies.

This is not aimed at the post I'm quoting.

When are you all going to get a fscking clue!

The powers-that-be in all countries are pulling us towards a Technocracy where they will tax and track everything.

The lack of assured anonymity in current crypto-currencies is how they are able to accomplish this 666 tracking result.

Bitcoin is part of the plan to bring us to this tracking result. It is not our savior rather it was planted to suck us in.

It is up to us if we want to grab the moment, and make an anonymous crypto-currency that will defeat the global plan.

Its not as bad as your making it sound really.

It transitions so slowly that frogs boil in the pot and never jump out.

Please clarify in what way anything that I wrote above is incorrect?

Just because you in the west are still enjoying the $150 trillion debt bubble (and the $quadrillion in derivatives and another $quadrillion in unfunded social liabilities), and thus you feel good for the moment, doesn't change the reality of what is happening and coming.

By the time you realize it will be far too late for you. One ABSOLUTE truth of the markets is the masses MUST always be wrong.

By 2024, the world is going to be Fucked Up Beyond All Recognition, i.e. F.U.B.A.R.. That is a military term.