CHINA DID NOT BAN BITCOIN EXCHANGES & BANKS FROM USING IT

[howardb]

Or another view is that someone WANTS China to be misinterpreted. Corruption is rife, I have to wonder which chinese officials were holding BTC, and which ones sold just before the announcements (And for that matter which ones are buying back as we speak!).

Another cynical view would be that it is well recognised that wall street was reaching acceptance of and looking for an entry point into BTC, so is this a manufactured entry point?

Judging from the rate of BTC buying in US http://fiatleak.com/ I would suggest the latter is happening.

Unfortunately the type of tracking we have in the stock market that helps prevent these kind of activities, is completely absent by design in BTC. I believe if governments want to regulate this market (for the greater good of BTC) that would be a good place to start, at the exchanges.  

[quone17]

Or another view is that someone WANTS China to be misinterpreted. Corruption is rife, I have to wonder which chinese officials were holding BTC, and which ones sold just before the announcements (And for that matter which ones are buying back as we speak!).

Another cynical view would be that it is well recognised that wall street was reaching acceptance of and looking for an entry point into BTC, so is this a manufactured entry point?

Judging from the rate of BTC buying in US http://fiatleak.com/ I would suggest the latter is happening.

Unfortunately the type of tracking we have in the stock market that helps prevent these kind of activities, is completely absent by design in BTC. I believe if governments want to regulate this market (for the greater good of BTC) that would be a good place to start, at the exchanges.  

Interesting post.  How about this:  China thinks their yuan is on its way to becoming the major currency so they want to stop anything that might stop that.  On the other hand,  the US thinks the dollar is waning so if they can regulate and take charge of the BTC market the US can maintain a grip on currency.

[Its About Sharing]

From https://vip.btcchina.com/account (requires login)

Dear BTC China valued customer: Due to new government regulations, BTC China will temporarily suspend CNY deposits. BTC deposits/withdrawals and CNY withdrawals are not affected, and will continue to operate in the interim. Rest assure that BTC China will continue to operate normally. Please pay attention to our notices for updates, as we find other ways to allow for CNY deposits. We deeply apologize for any inconvenience. BTC China, December 18, 2013
To stabilize the recent turbulent Bitcoin market and minimize potential market manipulation, BTC China will end the 0% trading fee promotion, effective immediately, and revert to the 0.3% trading fee. We deeply apologize for the sudden change. BTC China, December 16, 2013

They say it's temporarily. 

I think that is the BIG thing. This change is about NO 3rd party services being used and apparently NOT about banks. But it looks like, for whatever reason, BTC China temporarily suspended deposits.
It will take a few days for this to play out I think...

[Notanon]

http://fiatleak.com/

Watch the amount going into China and weep

[Tomatocage]

http://fiatleak.com/

Watch the amount going into China and weep

Am I reading those stats right? For a country that supposedly put a halt to Bitcoin/fiat trading with its native currency, the Chinese sure are buying up a lot of BTC still.

[Notanon]

http://fiatleak.com/

Watch the amount going into China and weep

Am I reading those stats right? For a country that supposedly put a halt to Bitcoin/fiat trading with its native currency, the Chinese sure are buying up a lot of BTC still.

Yep, it looks like everyone else has been had.

[BTCat]

Exchanges can continue but btcchina stopped accepting deposits. This is something big, btc will crash a whole lot more coming weeks. Even below $180 is possible.

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

[Its About Sharing]

http://fiatleak.com/

Watch the amount going into China and weep

Wow, looks like the Chinese are leading things again! What happened?

[jeppe]

if u look at this quote form http://www.theguardian.com/ then it clearly states that the chinease exchanges will have big problems getting fiat in and out :

On Tuesday, the central bank extended that ban to payment companies like YeePay, and gave them until Chinese New Year, which begins on 31 January, to comply.

BTCchina uses this method and therefore this means that the exchanges cant get money in and out after 31 january.
source: http://www.theguardian.com/technology/2013/dec/18/bitcoin-plummets-china-payment-processors-digital-cryptocurrency

[Its About Sharing]

if u look at this quote form http://www.theguardian.com/ then it clearly states that the chinease exchanges will have big problems getting fiat in and out :

On Tuesday, the central bank extended that ban to payment companies like YeePay, and gave them until Chinese New Year, which begins on 31 January, to comply.

BTCchina uses this method and therefore this means that the exchanges cant get money in and out after 31 january.
source: http://www.theguardian.com/technology/2013/dec/18/bitcoin-plummets-china-payment-processors-digital-cryptocurrency

But it looks like you are confusing 3rd party services (e.g. YeePay) with Banks. The confusing thing is that BTC China suspended deposits period, but the "suspended" them in their own words.
Still between clear answers but it looks like banks will be the ONLY method of depositing money.

This young guy does a bit of research and came up with the same thing (though time will tell):

http://www.youtube.com/watch?v=DcL991lTA0Q&feature=em-uploademail

[luqash3]

tacoman71 I know last few days were really hard ones for bitcoin as many news channel caused misunderstanding that china has totally banned bitcoin use due to which it tumbled to approximately $500. Well thanks for sharing your information and showing an intention of helping people who heard unclarified news in recent times