[2013-12-17] Forbes - Bitcoin Crashes On Report That China's Cracking Down Furt

[viajero]

Bitcoin Crashes On Report That China's Cracking Down Further On Use

http://www.forbes.com/sites/kashmirhill/2013/12/17/bitcoin-crashes-as-china-cracks-down-further-on-use/


more of it here:

http://www.bloomberg.com/news/2013-12-17/china-bans-payment-companies-from-clearing-bitcoin-news-says.html

Companies currently offering services must end services by the Chinese New Year, a weeklong holiday that begins on Jan. 31, the newspaper cited Zhou Jinhuang, deputy director of payment clearance at the People’s Bank of China, as saying at a meeting with more than 10 third-party payment service providers

part of the chinese source: http://www.yicai.com/news/2013/12/3234984.html (google translated)

After Golden Week convey relevant spiritual , individual companies have made ​​the payment that he will strictly enforce the above three requirements. But it is worth noting that one of the world 's most active trading site BTCC ( bitcoin China ) as well as Bitcoin , Wright currency trading site OKCOIN have third-party payment agencies from the original co- pay through fiscal replaced by another third-party payment companies , meanwhile, have users complained that two sites are currently only using money paid through withdrawals , but not through its recharge.

[viajero]

if this is really going to happen, now is the last chance for chinese ppl to acquire some BTCs without having a hard time! therefore BTC for CNY may soon trade for a premium?!

[ajax3592]

Let's hope we don't face another major crash like the one that happened in April this year.
Seriously, Chinese have the power to crash it, if not make it or break it.

[Doublelucky]

This PBOC announcement is super fresh..

You can bet there are many people within the bitcoin/bitcoin exchange community in China right now- figuring ways around the "ban" that will continue to allow the people in China to trade and be able to convert their bitcoins into fiat

Just look at online poker.. they found a way around that in the US...

oh wait...

[oOoOo]

You can measure the corruption of any given government by the way they react to bitcoin. China (unsurprisingly) is easily the most corrupt country on the planet, followed (by wide margin) by the u.s.

Germany, on the other hand, appears to be relatively little corrupt (at least for now) given its size.

This is a good way to get a somewhat objective measurement on the evilness of govt. and their representatives.

[LiteCoinGuy]

Let's hope we don't face another major crash like the one that happened in April this year.
Seriously, Chinese have the power to crash it, if not make it or break it.

to late 

[bitfromit]

Hmmm where's the crash again? :

[BachMann]

Hope it crashes some more so i can afford to buy some 

[bitfromit]

Hope it crashes some more so i can afford to buy some 

Heheh perhaps try DOGE instead? list of exchanges http://doges.org/index.php?board=22.0

[PenAndPaper]

Hmmm where's the crash again?

Nowhere go back to sleep. 

[bitfromit]

Hmmm where's the crash again?

Nowhere go back to sleep. 

ok. zzzzzzzzzzzzzzzz!

[bryant.coleman]

Heheh perhaps try DOGE instead? list of exchanges http://doges.org/index.php?board=22.0

The altcoins had their 2 weeks of fame. As the demand from China dips, it will affect altcoins like Litecoin and Namecoin more than the Bitcoin itself. Soon Litecoin will go down under 0.01 and other altcoins will follow.