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

[jubalix]

I can't see any actual official document or reference unlike the last one that was signed by several Chinese gov agencies.

Can anyone else find an official reference, rather than my friend's cousin knows this guy who works in the bank or china and had a meeting with some other high up person who said....this is really really going to happen


Also the real money *I* think is going to come from the City of London when they get exchanges going. There's  about 1.8T a day in forex trade there.

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[SkillfulHacking]

What's the latest China announcement?

[dontek]

BTC38 put up a notice basically saying no credibility to the rumor.

[dontek]

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

Google Translate:

December 16, 2013 afternoon news: Today, a number of central banks pm news began to spread about to stop third-party payment provider payment and clearing services for Bitcoin market, news disseminators say enthusiastically arrange things. In the beginning, most do not believe this rumor, however, due to the large domestic market, the second largest trading okcoin stopped a few days ago, "money paid through" withdrawals feature the afternoon, microblogging issued the following message to authenticate the user as follows: 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, the market began to panic, and some players began selling virtual currency, eventually causing an avalanche effect. Not famous market-bit era (which is where I Xiaobian this company) era coins, and instantly fell from two dollars and 0.9 yuan, directly sliced. Although the recovery, but also began malaise, currently stable at 1.5 yuan. Screenshot below: Again, Xiao Bian prime moment I buy coins from 22 yuan fell to 16.51 yuan, 25 yuan to start to let Xiaobian deeply pinched profusely. However, I am, after all, is the day Xiao Bian (nao) Fu (can) iso (wu) intrinsic (yao), not only did the whole cast flesh, but also took the opportunity to copy the one end, at the end of 19.5 and bought a copy of the 3000 yuan, When 20 yuan to sell, but also earned a snack money. The following is the prime currency plummeted when the screenshot: it is not clear that the "rumor central bank to stop payment" event is called the dealer waves. But according to Xiao Bian friend preaching, the dealer does have the opportunity to take advantage of significant Xihuo. Virtual currency investment risk is huge, not only from its own ups and downs in these currencies, but also from the QQ group rumors swirling. 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.
 

[ImI]

Its 5:23 am in China. It could last some hours till there is an official statement.

[raskolnikovx]

http://www.coindesk.com/china-bans-payment-companies-working-bitcoin-exchanges-sources-claim/

[dontek]

Its 5:23 am in China. It could last some hours till there is an official statement.

And of course, there is no credibility to the rumor, other than someone who initially posted "a friend of a friend of a friend with GREAT knowledge" said so...

Looks like a trap.

[betyourbits]

I'd say it was a scam to drop the price low so some whales could get some cheap coins!

[Mjbmonetarymetals]

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

[proudhon]

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

Sure feels that way.

[shad0wbitz]

I usually enjoy reading Coinbase, but these latest stunt left me with a sour taste all day. I don't think it is responsibly journalism, by any means, to post such a price-moving story from a "credible source" without absolute confirmation that the piece is pure fact.

[Piper67]

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

Sure feels that way.

The problem isn't with the translation, it's with the source. Some are referencing a post that went up, then was promptly deleted, while Coindesk is referencing their "sources"... add to that translation nuances and it's anybody's guess.

Oh well... stay calm and keep hashing.

[Piper67]

I usually enjoy reading Coinbase, but these latest stunt left me with a sour taste all day. I don't think it is responsibly journalism, by any means, to post such a price-moving story from a "credible source" without absolute confirmation that the piece is pure fact.

I think you mean Coindesk...

[shields]

Coindesk has 2 China related articles today.

The first (http://www.coindesk.com/bitcoin-china-statement-interpretation/) is a comprehensive, balanced article, with lots of facts and sources.

The second (http://www.coindesk.com/china-bans-payment-companies-working-bitcoin-exchanges-sources-claim/) is short sensationalist FUD based on mystery 'sources'. 

[Mjbmonetarymetals]

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

Sure feels that way.

The problem isn't with the translation, it's with the source. Some are referencing a post that went up, then was promptly deleted, while Coindesk is referencing their "sources"... add to that translation nuances and it's anybody's guess.

Oh well... stay calm and keep hashing.

Yes I realise that, however it would have been interesting to know what btc-38 said above anyhow I'll hold out for further news disseminators say enthusiastically arrange things, I'm pretty sure did not this news. Rumor has no visible acting in order to do their utmost, I suspect Not famous market-bit era - as its says not only did the whole cast flesh, but also took the opportunity to copy the one end, at the end of 19.5 and bought a copy of the 3000 yuan, When 20 yuan to sell, but also earned a snack money. My takeaway from this is be careful to avoid cross-check again and causing huge losses to be deceived by similar rumors. 

[Eri]

This isnt the first story from coindesk that has questionable "facts", one of which I was going to look into more before saying anything but honestly, this just proves its amature hour over there. Glad someone beat me to starting this thread though

By "questionable facts" i mean their story has no basis in truth, only rumor. Normal news agencies report the "news" meaning they get it from another site that they believe to be accurate or truthful(risking their own reputation if wrong) or they get more then 1 reputable source, meaning they must do all in their power to verify the information is fact and based on some piece of evidence such as a voice recording, a official announcement from an official website. Seeing as his source is a random buddy he met on the internet and there is no official announcement of any kind, STRESSING the fact that previous information regarding this came from *multiple* official sources in china.

There is no doubt that the article and rumor are 100% false. created only to cause a reaction in the market. for a amature mistake(if you can even call it that) of this magnitude, the person who wrote it needs to be 'fired' from coindesk. Their article is unacceptable.

[proudhon]

It's been around 12 hours since I woke up to something happening and some information about how the Chinese government is treating bitcoin from some sources, and I still have no clue what's going on.  LOL

[EvilPanda]

Sad to see how easy it is to cause panic. Imagine somebody saying on TV the country went bankrupt and their property is seized. The mob would hit the streets in seconds fighting and stealing from each other. Damn, I invested all my spare fiat in the first crash wave and couldn't buy anything today

[dontek]

As much as techology is a blessing, it's also a bitch.

Just like the news media. Everyone wants to be first to break a story, so rather than gain credible information, they just blindly throwing it up as fact, and as soon as that happens, it's all over twitter, facebook, whatever. And people, rather than thinking for themselves and verifying information, believe that because a website posted it, it HAS to be true so they turn around and keep spreading mis-information.

As great as there is no centralization or "rule book", it also sucks because one small baseless rumor can spread like wildfire and panic ensues.

Was kinda hoping Asia would have woken up this morning and seen the results of the fire sales and started buying up quickly. But who knows. Probably half of the people over there woke up, saw the huge dip and immediately went and started selling as well.
 
Oh the vicious cycle.

Either way, glad I was able to scoop up a few other ALT coins at a low price today to add to my portfolio. Maybe now these wannabe get-rich-quick folks will stay out of the damn game and let the true believers take back control.

[tropicalmonsoon]

As much as techology is a blessing, it's also a bitch.

Just like the news media. Everyone wants to be first to break a story, so rather than gain credible information, they just blindly throwing it up as fact, and as soon as that happens, it's all over twitter, facebook, whatever. And people, rather than thinking for themselves and verifying information, believe that because a website posted it, it HAS to be true so they turn around and keep spreading mis-information.

As great as there is no centralization or "rule book", it also sucks because one small baseless rumor can spread like wildfire and panic ensues.

Was kinda hoping Asia would have woken up this morning and seen the results of the fire sales and started buying up quickly. But who knows. Probably half of the people over there woke up, saw the huge dip and immediately went and started selling as well.
 
Oh the vicious cycle.

Either way, glad I was able to scoop up a few other ALT coins at a low price today to add to my portfolio. Maybe now these wannabe get-rich-quick folks will stay out of the damn game and let the true believers take back control.

In my opinion it's a good thing that a small baseless rumor can cause panic amongst all the uninformed people for a short while... gives us the chance to buy up some cheap bitcoins. I'll wait maybe another day or two to make sure the price doesn't drop anymore, then I'll pick up some coins for a 20-30% discount. Since the rumor probably won't follow through, the price will hopefully climb back up to 1000USD before long