More bad news: Now BTC China temporarily suspends CNY deposits

[tclo]

http://www.reddit.com/r/Bitcoin/comments/1t5cfx/btcchina_closed_bank_deposit_as_a_way_to_deposit/

[coastermonger]

Reddit has been on this for the past hour already: http://www.reddit.com/r/Bitcoin/comments/1t5g4k/btc_china_halts_all_cny_deposits_see_english/

The first time it was posted, the news was simply downvoted and ignored: http://www.reddit.com/r/Bitcoin/comments/1t5fre/china_government_shutdown_deposit_from_bank_to/

And if you can really only be bothered to click one of these links, this would be the main thread:
http://www.reddit.com/r/Bitcoin/comments/1t5cfx/btcchina_closed_bank_deposit_as_a_way_to_deposit/

[Voogru]

http://www.reddit.com/r/Bitcoin/comments/1t5cfx/btcchina_closed_bank_deposit_as_a_way_to_deposit/

Well I guess that closes these two chapters.

1: Bitcoin only valuable because of Silk Road! DRUGS! MURDER! (turned out to be wrong).
2: Bitcoin only valuable because of demand from China! BUBBLE! GOING TO ZERO! (probably bullshit)

[btbrae]

Can confirm this, you only need login to BTCChina to see the announcement.

[samsam]

How long until the Chinese cash out of BTC and into Yuan???

I want to time my buying to catch the low. How long will it take for the Chinese to cash out of BTC and into Yuan???

Predictions anyone???

[BadBear]

I love how governments preventing their people from using their money as they see fit is bad news for Bitcoin.

Strange world we live in.

Couldn't have said it better. If anything this just shows why bitcoin is needed.

[Bitbuy]

http://www.reddit.com/r/Bitcoin/comments/1t5cfx/btcchina_closed_bank_deposit_as_a_way_to_deposit/

Well I guess that closes these two chapters.

1: Bitcoin only valuable because of Silk Road! DRUGS! MURDER! (turned out to be wrong).
2: Bitcoin only valuable because of demand from China! BUBBLE! GOING TO ZERO! (probably bullshit)

Care to guess/speculate the third chapter?  I'm thinking along the lines of "South-America forms Bitcoin Union" -> BUBBLE!

[woutersteven]

I can confirm this.  The message on their dashboard (After logging in) says:

“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″

[merv77]

here you go...  Denmark to the rescue

http://www.cryptocoinsnews.com/2013/12/17/denmark-makes-legal-establish-bitcoin-exchanges/

[mandelbert]

I love how governments preventing their people from using their money as they see fit is bad news for Bitcoin.

Strange world we live in.

This. So true. I just hope others will see the truth in that as well.

[beetcoin]

Reddit has been on this for the past hour already: http://www.reddit.com/r/Bitcoin/comments/1t5g4k/btc_china_halts_all_cny_deposits_see_english/

The first time it was posted, the news was simply downvoted and ignored: http://www.reddit.com/r/Bitcoin/comments/1t5fre/china_government_shutdown_deposit_from_bank_to/

And if you can really only be bothered to click one of these links, this would be the main thread:
http://www.reddit.com/r/Bitcoin/comments/1t5cfx/btcchina_closed_bank_deposit_as_a_way_to_deposit/

if the guy had a link or source, then more people would have been likely to upvote it. otherwise it's probably safe to assume he's just a troll or speculator.

[Biterfly]

People are starting to panic, price now has hit 480, just now. Damn it man i just preordered a miner for mid jan, and was hoping that the price will hit around 1500-2000 but that time in order for me to make any profit  , this is bad...We i hope it hits 50 usd so i can buy the bitcoins online and hold till they comeback up..Mr. Satoshi if you are watching this, than comeup with a genesis solution.....Or else i will use my asic miner to mine other crypto currencies that use the same sha-256 algorythem....

[crazy_rabbit]

Reddit has been on this for the past hour already: http://www.reddit.com/r/Bitcoin/comments/1t5g4k/btc_china_halts_all_cny_deposits_see_english/

The first time it was posted, the news was simply downvoted and ignored: http://www.reddit.com/r/Bitcoin/comments/1t5fre/china_government_shutdown_deposit_from_bank_to/

And if you can really only be bothered to click one of these links, this would be the main thread:
http://www.reddit.com/r/Bitcoin/comments/1t5cfx/btcchina_closed_bank_deposit_as_a_way_to_deposit/

if the guy had a link or source, then more people would have been likely to upvote it. otherwise it's probably safe to assume he's just a troll or speculator.

I think his source might be the massive cliff jump of BTC-China.

[bryant.coleman]

The ban applies only to CNY deposits?

If so, then is it possible to make a deposit for any other currency, either the Russian Ruble or the US Dollar in BTC China?

Note: According to the statement made by BTC China, this is a temporary measure.

[polarhei]

I can confirm this.  The message on their dashboard (After logging in) says:

“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″

Well, The method will be in the oldest way as bitcoin is a trust based form.


To run, face to face trading.

[lindatess]

It was going to happen. It was there written in chinese for all of us to read...