mayax (OP)
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December 17, 2013, 10:51:15 PM |
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See the funding/withdrawal options for BTC China:
In both screenshots, all the 3rd party payment companies have disappeared from Funding Options with the exception of Yeepay.
For the Withdrawal Options, only 5 options remain. all of them banks.
Both screenshots are from today. also some guy attempted to fund an BTC China account via a Merchants Bank of China account, and was met with 'transaction errors'. i.e. it was not possible to deposit funds through this bank today, whereas it was possible a couple of days ago. 
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"Your bitcoin is secured in a way that is physically impossible for others to access, no matter for what reason, no matter how good the excuse, no matter a majority of miners, no matter what." -- Greg Maxwell
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honky1492
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December 17, 2013, 11:03:35 PM |
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See the funding/withdrawal options for BTC China:
In both screenshots, all the 3rd party payment companies have disappeared from Funding Options with the exception of Yeepay.
For the Withdrawal Options, only 5 options remain. all of them banks.
Bank wire transfers are best anyway |
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co42
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December 17, 2013, 11:13:22 PM |
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To be honest, this outcome was foreseeable. The Chinese government would never stand for something they themselves didn't come up with.
No, they dont like they cannot control Bitcoin. I'm honestly pretty surprised they've let it go on as long as it has considering how isolated China is from the rest of the internet in most respects. |
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Macno
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December 17, 2013, 11:15:18 PM |
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Ok, but where is the proof that they will prohibit chinese people to transfer or withdraw money via bank wires from their chinese banks to btc china?
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Lloydie
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December 17, 2013, 11:53:01 PM |
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If china bans Btc china, Btc price will stabilise at some lower level, which would be a strong buy for me. China will then become like Argentina where btcs trade at a premium.
Anyway, how can the RMB be a global currency if it cannot be freely transacted and converted to whatever people want? If btcs cannot be purchased with RMB, that implies that the RMB is flawed, not the other way around.
I don't see the USD, POUND, EURO, YEN or AUD doing this sort of thing. I see Thailand, Argentina and china moving in that direction because these countries have weak and controlled currencies.
Therefore, China must be weak because they are fearful.
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imbladednow
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December 18, 2013, 12:00:23 AM |
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Ok, but where is the proof that they will prohibit chinese people to transfer or withdraw money via bank wires from their chinese banks to btc china?
Just OP belief, thats it. I dont see it cannot happen, because it can happen easily, but without official annuncement it is just FUD now |
I need crypto in my life and garbage out of it.
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Akrom
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December 18, 2013, 12:17:03 AM |
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All banks should ban Bitcoin soonly. But Bitcoin will become more powerful because of this.
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Lloydie
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December 18, 2013, 12:23:57 AM |
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It is not likely that Btc china will be banned because it is located in the shanghai special economic zone.
Even if china bans Btc china in shanghai, they will simply setup two new offices: one in Hong Kong and the other in Macau. Good luck banning btcs there.
Also, the fact that yeepay continues to function tells me that there is a loophole somewhere in the system that will allow RMB to be converted to btcs going forward.
If btc china is shutdown then prepare to see the shanghai economic zone wither away.
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phaded
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December 18, 2013, 12:26:47 AM |
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Don't think it will stop BitCoin growth, just slow it. When there's a will there's a way
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monbux
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December 18, 2013, 12:33:52 AM |
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This is FUD - seems a lot of topics appearing from 0 activity newbies trying hard to keep pushing down the price.
Exactly what I thought. People only do that if they are desperately in need to jump on the bitcoin train. If this was true, bitcoin would be dropping a whole lot more. :/ |
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mayax (OP)
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Merit: 1004
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December 18, 2013, 01:58:59 AM |
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This is FUD - seems a lot of topics appearing from 0 activity newbies trying hard to keep pushing down the price.
Exactly what I thought. People only do that if they are desperately in need to jump on the bitcoin train. If this was true, bitcoin would be dropping a whole lot more. :/ I was the one who came with this info on this forum. This info is not FUD. It's a fact of life. Yesterday many people blaimed me that I don't have any proof. Now, everybody is talking about that.  BTC China will be closed within 30 days. The chineses will be able to withdrawn funds during this time. I am not using Bitcoin at all. I don't even had a Bitcoin account so I don't care about rates |
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air_bob
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December 18, 2013, 02:21:08 AM |
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due to the politics in china, bitcoin industry will be harder and harder  |
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mayax (OP)
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December 18, 2013, 02:38:32 AM |
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it due to certain facts. Bitcoin is anonymous. That's why China doesn't like Bitcoin.
Also, this the main problem for this so called system(it's only a speculative game), it's anonymous.
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waitingGame
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December 18, 2013, 02:54:00 AM |
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China isn't going to be able to put this genie back in the bottle. I'm reminded of the scene from Jurassic Park where the scientists act as if they've accounted for every conceivable variable and are so absolutely certain that they've taken every measure necessary to prevent Dinosaurs from escaping and breeding. Jeff Goldblum's character Ian Malcolm responds with a great little speech about how life always finds a way. Despite whatever barriers the state puts in place, people will find ways to freely trade using Bitcoins if they want to. Chinese people will hopefully find ways to work around the criminals that claim to rule them.
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g35fan
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December 18, 2013, 03:06:11 AM |
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China isn't going to be able to put this genie back in the bottle..
I think China just slapped the genie and shoved her back into the bottle. Good move on their end, bitcoin is too dangerous to them right now. The USA will probably do the same, perhaps not so severely though (only because of wall st speculation). They might just dangle it around like they are now and if they can't figure out how to control it...see ya. Yea, I know, it doesn't matter, bitcoin will survive. But if it's not accepted by retailers and you don't see bitcoin ATM machines at gas stations, it won't take off like the FB twins and some people on here think it will. Might take years and years and an economic collapse/crisis till it has a real chance in the US. Maybe it's for the best and bitcoin needs more time to be accepted and explored. Or maybe it will be $10k USD > 1btc in a few months what do I know haha. Whatever it is, I'm hanging on to my lil bitcoins till the end (because I wouldn't know where to spend them anyways) |
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BitLoverz
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December 18, 2013, 04:07:02 AM |
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Who believes the stories?
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Lloydie
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December 18, 2013, 07:26:13 AM |
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This is FUD - seems a lot of topics appearing from 0 activity newbies trying hard to keep pushing down the price.
Exactly what I thought. People only do that if they are desperately in need to jump on the bitcoin train. If this was true, bitcoin would be dropping a whole lot more. :/ I was the one who came with this info on this forum. This info is not FUD. It's a fact of life. Yesterday many people blaimed me that I don't have any proof. Now, everybody is talking about that. BTC China will be closed within 30 days. The chineses will be able to withdrawn funds during this time. I am not using Bitcoin at all. I don't even had a Bitcoin account so I don't care about rates Btc china in shanghai may close but Btc china in HK or Macau will be started. |
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medUSA
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December 18, 2013, 09:51:35 AM |
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I am trying to gauge the effect of the recent "ban" on the liquidity of Bitcoins in China...
May be Chinese forum members can help with some queries I have:
After PBOC bans chinese from depositing funds into BTCChina via bank transfers and 3rd party payment systems,
can you actually deposit cash in their office (if they have one)?
or deposit cash directly into BTC China's bank account at a physical bank?
How easy is it for chinese to open a bank account in Macau or Hong Kong?
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Light
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December 18, 2013, 09:56:13 AM |
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Exactly what I thought. People only do that if they are desperately in need to jump on the bitcoin train.
If this was true, bitcoin would be dropping a whole lot more. :/
Well at the time of writing the price has fallen to a mere $500 USD which is half of what it was at it's peak. Honestly, even if this isn't true (which seems to be rather unlikely now), the psychological effect and fear is leading to a severe drop in the valuation in BTC. If anything, it might be a good time to buy back if one is following a long term hoarding stratagem. |
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torrentheaven
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December 18, 2013, 10:03:11 AM |
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This is FUD - seems a lot of topics appearing from 0 activity newbies trying hard to keep pushing down the price.
Exactly what I thought. People only do that if they are desperately in need to jump on the bitcoin train. If this was true, bitcoin would be dropping a whole lot more. :/ I was the one who came with this info on this forum. This info is not FUD. It's a fact of life. Yesterday many people blaimed me that I don't have any proof. Now, everybody is talking about that. BTC China will be closed within 30 days. The chineses will be able to withdrawn funds during this time. I am not using Bitcoin at all. I don't even had a Bitcoin account so I don't care about rates No, you are just guessing and saying it is fact. This is why it is just FUD |
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