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Transactions must be included in a block to be properly completed. When you send a transaction, it is broadcast to miners. Miners can then optionally include it in their next blocks. Miners will be more inclined to include your transaction if it has a higher transaction fee.
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Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
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mayax (OP)
Legendary
 Offline
Activity: 1456
Merit: 1004
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January 02, 2014, 07:02:16 PM |
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it's closed as I stated 3 weeks ago.  |
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Forexperiments
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January 02, 2014, 11:00:17 PM |
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Where is closed? I can log in, everything seems to work
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BurtW
Legendary
Offline
Activity: 2646
Merit: 1131
All paid signature campaigns should be banned.
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January 03, 2014, 02:36:18 PM |
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Where is closed? I can log in, everything seems to work
it's closed as I stated 3 weeks ago. One of you is lying. I wonder which one ... |
Our family was terrorized by Homeland Security. Read all about it here: http://www.jmwagner.com/ and http://www.burtw.com/ Any donations to help us recover from the $300,000 in legal fees and forced donations to the Federal Asset Forfeiture slush fund are greatly appreciated! |
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BitThink
Legendary
Offline
Activity: 882
Merit: 1000
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January 04, 2014, 08:28:55 AM |
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Where is closed? I can log in, everything seems to work
it's closed as I stated 3 weeks ago. One of you is lying. I wonder which one ... Just click https://btcchina.com and you will know. |
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BurtW
Legendary
Offline
Activity: 2646
Merit: 1131
All paid signature campaigns should be banned.
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January 04, 2014, 08:36:06 AM |
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it's closed as I stated 3 weeks ago. LIAR. LIAR. Pants on FIRE! |
Our family was terrorized by Homeland Security. Read all about it here: http://www.jmwagner.com/ and http://www.burtw.com/ Any donations to help us recover from the $300,000 in legal fees and forced donations to the Federal Asset Forfeiture slush fund are greatly appreciated! |
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Forexperiments
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January 04, 2014, 09:05:37 AM |
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I explain what was going on:
most chinese exchanges were allowing withdrawals on ANY zhifubao account (chinese paypal copy), meaning that money laundering was never this easy.
Think this: I transfer 10 bitcoins to my account (that could be registered with a fake name, since no verification is done) and then I could convert to chinese yuan and withdraw to unlimited different zhifubao accounts (difficult to track). At that point, could withdraw to a real bank account.
There's a limit to every chinese on how many dollars can receive every year (I think $50000).
Suppose there's a guy that wants to get $1 million to china without paying taxes.
Step 1: buy 1000 bitcoins
Step 2: convert them to 5 millions yuan
Step 3: withdraw them to 100 different zhifubao accounts
Step 4: go to countryside and pick up 100 random people saying "hey i give you 100 yuan if you help me"
Step 5: deposit from zhifubao and withdraw in their name
Step 6: Congrats: you transfered 1 million dollars illegally avoiding taxes
That's why china government got angry, any government in the world won't like this, not just china
In fact, now btc china is requiring id verification and will only do bank transfers in the same registered name of the account.
And at its peak, btc=>yuan rates were so high that you could make a very nice arbitrage and easy money if you bought bitcoins in dollars, then convert to yuan, then dollars again (make $20 every $1000)
Now the game is broken, you lose $40 every $1000 converted
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HappyTrader
Newbie
Offline
Activity: 25
Merit: 0
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January 04, 2014, 09:06:32 AM |
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SO SAD
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marakanito
Newbie
Offline
Activity: 19
Merit: 0
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January 04, 2014, 03:21:38 PM |
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Not all the chineese exchanges were closed I guess. http://www.huobi.com/ is working fine. Their volume is 400-800 BTC/hour. |
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LetITBTC
Newbie
Offline
Activity: 7
Merit: 0
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January 04, 2014, 03:36:55 PM |
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Not all the chineese exchanges were closed I guess. http://www.huobi.com/ is working fine. Their volume is 400-800 BTC/hour. lets hope they will live long and increase they volume |
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bryant.coleman
Legendary
Offline
Activity: 3654
Merit: 1217
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January 04, 2014, 03:47:53 PM |
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I explain what was going on:
most chinese exchanges were allowing withdrawals on ANY zhifubao account (chinese paypal copy), meaning that money laundering was never this easy.
Think this: I transfer 10 bitcoins to my account (that could be registered with a fake name, since no verification is done) and then I could convert to chinese yuan and withdraw to unlimited different zhifubao accounts (difficult to track). At that point, could withdraw to a real bank account.
There's a limit to every chinese on how many dollars can receive every year (I think $50000).
Suppose there's a guy that wants to get $1 million to china without paying taxes.
Step 1: buy 1000 bitcoins
Step 2: convert them to 5 millions yuan
Step 3: withdraw them to 100 different zhifubao accounts
Step 4: go to countryside and pick up 100 random people saying "hey i give you 100 yuan if you help me"
Step 5: deposit from zhifubao and withdraw in their name
Step 6: Congrats: you transfered 1 million dollars illegally avoiding taxes
That's why china government got angry, any government in the world won't like this, not just china
In fact, now btc china is requiring id verification and will only do bank transfers in the same registered name of the account.
And at its peak, btc=>yuan rates were so high that you could make a very nice arbitrage and easy money if you bought bitcoins in dollars, then convert to yuan, then dollars again (make $20 every $1000)
Now the game is broken, you lose $40 every $1000 converted
If so, then the fault was with Zhifubao, and not with BTC-China. I don't understand the logic in banning BTC, while allowing Zhifubao to operate freely. |
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adworker
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January 04, 2014, 03:58:12 PM |
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Step 4: go to countryside and pick up 100 random people saying "hey i give you 100 yuan if you help me"
Step 5: deposit from zhifubao and withdraw in their name
If you can find such fools easily, you can evade taxes even without Bitcoin |
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Forexperiments
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January 04, 2014, 05:25:35 PM |
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If so, then the fault was with Zhifubao, and not with BTC-China. I don't understand the logic in banning BTC, while allowing Zhifubao to operate freely.
Because until now the only way to get money into zhifubao was a traceable bank transfer (or a traceable sale on taobao) They just banned zhifubao and similars (caifutong) to receive BTC, they didn't ban BTC |
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bryant.coleman
Legendary
Offline
Activity: 3654
Merit: 1217
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January 06, 2014, 07:56:30 AM |
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Because until now the only way to get money into zhifubao was a traceable bank transfer (or a traceable sale on taobao)
They just banned zhifubao and similars (caifutong) to receive BTC, they didn't ban BTC
But if the issue really was tax evasion, then they could have just banned Zhifubao / Caifutong transfers for larger amounts. Small scale users got up unnecessarily in this mess. |
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johnybyo
Newbie
Offline
Activity: 58
Merit: 0
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January 06, 2014, 08:09:19 AM |
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China still buy more than all world together  |
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Bitcoin Doctor
Newbie
Offline
Activity: 28
Merit: 0
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January 06, 2014, 09:37:24 AM |
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BTC CHINA is based and hosted in the US for those who did not know, so no it will not close it may change hands as to who directs it but i very much doubt that, Bobby does a great job and is a really nice guy. do a quick search on youtube for some of his presentations which explain everything in full detail, they leave no questions unanswered  |
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merv77
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January 06, 2014, 02:18:07 PM |
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BTC CHINA is based and hosted in the US for those who did not know, so no it will not close it may change hands as to who directs it but i very much doubt that, Bobby does a great job and is a really nice guy. do a quick search on youtube for some of his presentations which explain everything in full detail, they leave no questions unanswered how is BTCChina based and hosted in US..? Do you mean only the computer servers are hosted in the US..? I'm member at BTCChina and have spoken with support and they told me that fiat can only be withdrawn into Chinese mainland banks. Also I've heard that you can personally walk into BTCChina office in China to deposit fiat, as you know that fiat cannot be deposited into BTCChina from Chinese banks. |
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antieest
Newbie
Offline
Activity: 5
Merit: 0
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January 06, 2014, 03:11:29 PM |
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Now the price of bitcoin rise
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Bitcoin Doctor
Newbie
Offline
Activity: 28
Merit: 0
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January 06, 2014, 03:19:02 PM |
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yes, that is what i mean. since it is hosted in the US it can't be seized by China. Sure there is issue of the office in China however that is on the road to being rectified and won't be very long at all before it is all sorted so can continue uninterupted |
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Forexperiments
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January 06, 2014, 03:52:37 PM |
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Where does it says that it's hosted in the US?
It targets mainland china, it has an official icp beian authorization
if you want an ICP record, then you MUST operate from inside mainland china (see google: doesn't have ICP record and most services are blocked)
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