Taobao (China's version of Ebay) bans bitcoin mining hardware

[yomofo]

http://www.reddit.com/r/Bitcoin/comments/1umcj8/taobao_prohibits_bitcoin_and_perhiperals_trading/

http://rule.taobao.com/detail-1358.htm?spm=0.0.0.0.FmkChc

Timber!!!!!!!!!!!


google translated:

 Rules background
Please comply with "the People's Bank of China Ministry of Information Industry and the China Banking Regulatory Commission, China Securities Regulatory Commission and China Insurance Regulatory Commission on the Prevention of Bitcoin risk" and other relevant laws and regulations.
The central bank explicitly require third-party payment agencies closed bitcoins, Wright currency transactions channel.
 
  Specific circumstances
Including but not limited to:
1)      Bitcoin, Wright coins, coins Biot, Quark coins, unlimited coins, cocoa coins, pennies coins, PPCoin , NameCoin such as virtual currency ;
2)     bitcoin mining tutorial tutorials virtual currency, Raiders;
3)     Bitcoin mining machine used to obtain virtual currency-related hardware, software .

[Interized]

Did you even read? God you are dumb.

[tdenisenko]

Thanks, I was wondering the reason of the current price drop

[server]

guess once where all cheap coins are going...

http://fiatleak.com/

[T.Stuart]

If this news is right then this is the perfect time for a test of that growing confidence we have outside China. This could be like the vaccine that immunizes us from anything else "Chinese" (for want of a less insulting way of saying it)!

[T.Stuart]

guess once where all cheap coins are going...

http://fiatleak.com/

You know what? Even if Bitcoin is banned in China they love it too much. There will be a huge black market.

EDIT: We still have to pass our test though! 

[magicmexican]

If I understand correctly something like the chinese ebay is prohibiting the sale of crypto mining equipment?

yep

[cbeast]

a slight market overreaction due to misinformation

[HairyMaclairy]

If I understand correctly something like the chinese ebay is prohibiting the sale of crypto mining equipment?

yep

And coins. If not fake. 

[Lieji]

Good chance to get some cheap coins

[alexeft]

Do you people think this could extend to the manufacturing of asic chips?

[EuroTrash]

http://www.reddit.com/r/Bitcoin/comments/1umcj8/taobao_prohibits_bitcoin_and_perhiperals_trading/cejk1ie

1) Not banning of selling, they are unable to accept BTC as a payment(nothing new, noticed specifically said Bitcoin cannot be used as a currency in China).
2) Any ads labeled "Bitcoin/Litecoin miner" will be removed (this is new, on one hand the notice said BTC is not illegal and everyone thought worst case scenario you buy the BTC on sites like localbtc from miners. But now it seems they don't want miners in China as well?).
3) This might be the start of the "crackdown" in regards to the Jan 31st date. We will see in the next few days if the PBOC will start targeting the exchanges.

[MatTheCat]

a slight market overreaction due to misinformation

If it is a slight market overreaction due to 'misinformation', then we should be back up at $950 on BItstamp in no time at all as people realise that there are artificially cheap coins to be got, right?

Also, if this is how the market 'overreacts' to 'negative misinformation' coming out of China, then hold onto to your fkn hat! I predict lots of 'mis-information' to come out of China between now and 31st Jan 2014.

[cbeast]

a slight market overreaction due to misinformation

If it is a slight market overreaction due to 'misinformation', then we should be back up at $950 on BItstamp in no time at all as people realise that there are artificially cheap coins to be got, right?

Also, if this is how the market 'overreacts' to 'negative misinformation' coming out of China, then hold onto to your fkn hat! I predict lots of 'mis-information' to come out of China between now and 31st Jan 2014.

Well, India goes online tomorrow, so... maybe China wants to sell cheap coins to them, right?

[wachtwoord]

Is this true? What does this mean to ASICMINER?

[jl2012]

What a stupid FUD.  If ebay, an US company,  banned bitcoin miner trading, does it mean the US banned bitcoin miner?

[ElectricMucus]

lol look at all the hatefilled reactions.

[hlynur]

Is this true? What does this mean to ASICMINER?

i suppose not much atm.
afaik AM never directly relied on taobao, probably only merchants from the group buys sold products there.
imo taobao just goes the safest way here as even the big players don't seem to know how strict governmental regulation will be after january deadline.

What a stupid FUD.  If ebay, an US company,  banned bitcoin miner trading, does it mean the US banned bitcoin miner?

+1
@OP: please change thread title...it's totally misleading.

[ElectricMucus]

Oh and this probably is a reaction of this retarded exchange voucher auction workaround from BTCChina. Taobao is Chinese ebay, in a sense, it's more wholesaler than personal auction related and deals are better. (oh well china)
Either way this is kind of a big deal because taobao is the biggest site of it's kind afik.

[MatTheCat]

afaik AM never directly relied on taobao, probably only merchants from the group buys sold products there.
imo taobao just goes the safest way here as even the big players don't seem to know how strict governmental regulation will be after january deadline.

Yep.

Going by the dramatic swing in CNY Bitcoin trade away from BTC38 and over to Huobi and OKcoin, it seems that Bobby Lee and his US based backers have opted to tow the line 100% to the word of the Chinese government whereas the other exchanges are deciding to go cowboy style, blatantly circumventing 'the intention' of the Chinese government with vouchers and private bank transfers.

There aint never been no cowboys in China for a good reason (not since Genghis Khan's time anyway).

[BitchicksHusband]

What a stupid FUD.  If ebay, an US company,  banned bitcoin miner trading, does it mean the US banned bitcoin miner?

Paypal bans bitcoin sales!!!  OMG!  US bans bitcoins!

[doctor877]

What a stupid FUD.  If ebay, an US company,  banned bitcoin miner trading, does it mean the US banned bitcoin miner?

Paypal bans bitcoin sales!!!  OMG!  US bans bitcoins!

Well it was the only place to buy BTCChina vouchers.. So now the voucher system seems pretty fucked up permanently, so if they ban Huobi deposits it's go time.

[Kenshin]

If that is the case then a lot of Bitcoin Mining Producer within China will be closed down or relocate in another country.

[T.Stuart]

Hey where is the panic sell-off with this news?

Don't tell me the bulls are going to be running all over China now?

Madness, complete madness!!!

 

[Wilhelm]

Hope they ban all mining equipment .... gpucoins, cpucoins, etc.....

The future for china

[keithers]

It is truly a shame what lengths governments will go to in order to prevent adults from doing what they choose with their own money.  I completely understand passing guidelines and laws to prevent the sale or purchase of something that could do physical harm to another person, but preventing grown adults from being able to spend money on what they please is ludicrous to me...

[GigaCoin]

so the whole complete chinese ban on bitcoin to Jan 31st is well underway.

[proudhon]

I knew this would happen, and it's much worse than OP could have imagined.  Not only is the PBOC banning all bitcoin mining, but they will be filtering bitcoin network traffic from China using the Great Firewall ----> See here for the official source confirming this horrific new information.

But, it gets worse.  Chinese officials at the PBOC have also confirmed via sources that US officials have entered into an agreement with China to lease their firewall technology so that the US government can filter out all bitcoin and all cryptocurrency traffic.  As I forsaw in 2011, this is literally the end of bitcoin and all cryptocurrencies through out the world.

The only thing left to do at this point is get all those coins out of cold storage, send them to the exchanges, and get out while you still can, before the price drops to fractions of a penny.

[GreenBits]

The first link you provided points to a Chinese banking page talking about payroll loans. Correct link, or am I missing something?


via google translate

"Salaried loan" products not only by individual employees can apply for or initiated by the unit employees, the Bank of China home for the relevant application procedures, provide convenient and efficient services to enterprises and employees of credit initiative.

First, the loan amount: 2-3 times the annual income of employees, in principle, more than $ 500,000. Wealth levels in line with the Bank of China customer standards, the loan amount can be increased accordingly.

Second, the loan period: usually one year, depending on the use of the loans extended to three years.

Third, the use of the loans: loans can be used for home improvement, car, education, health care and other legal compliance of all consumer spending, and not for the personal expenses of non-declared purpose prohibited by laws and regulations.

Fourth, use: recycling, as used with the mention.

V. guarantee: credit loans without collateral or guarantees. According to units and employees need to take the unit guarantees, mutual and other employees flexible and easy way of security, to maximize the loan amount.

[pietje]

I knew this would happen, and it's much worse than OP could have imagined.  Not only is the PBOC banning all bitcoin mining, but they will be filtering bitcoin network traffic from China using the Great Firewall ----> See here for the official source confirming this horrific new information.

But, it gets worse.  Chinese officials at the PBOC have also confirmed via sources that US officials have entered into an agreement with China to lease their firewall technology so that the US government can filter out all bitcoin and all cryptocurrency traffic.  As I forsaw in 2011, this is literally the end of bitcoin and all cryptocurrencies through out the world.

The only thing left to do at this point is get all those coins out of cold storage, send them to the exchanges, and get out while you still can, before the price drops to fractions of a penny.

So, i guess you sold your coins and still waiting for the predicted crash who will not come?..

[thoughtfan]

I knew this would happen, and it's much worse than OP could have imagined.  Not only is the PBOC banning all bitcoin mining, but they will be filtering bitcoin network traffic from China using the Great Firewall ----> See here for the official source confirming this horrific new information.

But, it gets worse.  Chinese officials at the PBOC have also confirmed via sources that US officials have entered into an agreement with China to lease their firewall technology so that the US government can filter out all bitcoin and all cryptocurrency traffic.  As I forsaw in 2011, this is literally the end of bitcoin and all cryptocurrencies through out the world.

The only thing left to do at this point is get all those coins out of cold storage, send them to the exchanges, and get out while you still can, before the price drops to fractions of a penny.

Slow clap to proudhon once more!

[darklight]

He is taking the piss

[proudhon]

I knew this would happen, and it's much worse than OP could have imagined.  Not only is the PBOC banning all bitcoin mining, but they will be filtering bitcoin network traffic from China using the Great Firewall ----> See here for the official source confirming this horrific new information.

But, it gets worse.  Chinese officials at the PBOC have also confirmed via sources that US officials have entered into an agreement with China to lease their firewall technology so that the US government can filter out all bitcoin and all cryptocurrency traffic.  As I forsaw in 2011, this is literally the end of bitcoin and all cryptocurrencies through out the world.

The only thing left to do at this point is get all those coins out of cold storage, send them to the exchanges, and get out while you still can, before the price drops to fractions of a penny.

So, i guess you sold your coins and still waiting for the predicted crash who will not come?..

Absolutely!  With the now confirmed bad news I posted verified via the sources I linked to which you can easily just read yourself, cryptocurrencies are officially over and we will be entering a long slow slide to $0, except it will be fast.  No new highs will ever come from this point on.  Just check out the sources I linked to.  All confirmed.

[GreenBits]

aaaaand the second link points to another Chinese banking page that basically is a state of the market report.. no mention of btc or even technology, for that matter. basically talking about USD/GBP/GLD/SLV.


are you fucking with me, good sir?

edit: you are indeed fucking with me. and us. not cute.

[niothor]

It's a chinese company , NOT CHINA but still


I'm sooo enjoying this....
I've told people here a lot of times that China will not embrace bitcoin , I was called in so many ways and names ..
I warned people about the fake volume of exchangers , about how china is pegging it's currency and doesn't want a currency it can't manipulate

I tried to tell people that growth will be achieved with the western countries and not with some half starved chinese and indians....but nothing

So , it's bitcoin dead now that we don't have China backing it anymore ?
Or will China expire and break down  (like all their products they both design and produce) before Bitcoin ?

[gentlemand]

If nothing else China is serving as a useful experiment on what can happen when a government tries to clamp down, and there are few other governments as authoritarian and quick to act as China so it's happening almost in Bitcoin time.

It seemed like a no brainer that they weren't going to allow it to flourish. India? Meh. For now it's a Western led thing and will be for a good while yet.

[undeadbitcoiner]

Taobo is Nothing its just like a Ebay in china. China has a lot of private company who are selling Mining equip. so no need to worry, China is now one stable market (Just Fuck what government says) Government is not important for us. Chinese love bitcoin that is importand. China is going to effect no more in the market. The next big market will be HongKong and we all know that Chinese are trading in Hongkong market also so Chinese people already are in safe side of trading. Chinese government could stop Bitcoin in China but Not in Singapore and Hongkong where chinese could easily trade.

[GreenBits]

thank you.


however, unless a joke, those two false links (and the paragraph that encapsulates them) is a big ass fud sandwich.


HAha?..

maybe im to serious at times. no troll intended
~Green

[ElectricMucus]

The first link you provided points to a Chinese banking page talking about payroll loans. Correct link, or am I missing something?

http://www.google.com/translate?hl=en&ie=UTF8&sl=auto&tl=en&u=http%3A%2F%2Frule.taobao.com%2Fdetail-1358.htm%3Fspm%3D0.0.0.0.FmkChchttp%3A%2F%2F

here is a screenshot

[Kenshin]

Taobo is Nothing its just like a Ebay in china. China has a lot of private company who are selling Mining equip. so no need to worry, China is now one stable market (Just Fuck what government says) Government is not important for us. Chinese love bitcoin that is importand. China is going to effect no more in the market. The next big market will be HongKong and we all know that Chinese are trading in Hongkong market also so Chinese people already are in safe side of trading. Chinese government could stop Bitcoin in China but Not in Singapore and Hongkong where chinese could easily trade.

That is a good point, you like pointed out.

[runam0k]

Misleading thread title. Pls fix.

[traderCJ]

lol look at all the hatefilled reactions.

Oh look, a troll.

[ElectricMucus]

I'm not trolling exclusively, just on dumb topics. If the topic is intellectual you'll find me to be quite serious.

[TERA]

So what happened to China becoming irrelevant to btc and the price being led by the US now? That's what all the bulls were saying.

[Rub3n]

So what happened to China becoming irrelevant to btc and the price being led by the US now? That's what all the bulls were saying.

Gox price still was always 100$ higher then china, if china moved gox moved. Samething happening right now.

[niothor]

Huobi doesn't seem really happy.

Now , really , is there somebody who believes in the numbers that mother of all fakers exchanges burps out?

[Valerian77]

Too much trolling here ...

Chinese can regulate Bitcoin by law. But they cannot prevent the use of Bitcoin by people. Basically any try to lock out Bitcoin at all from China (which will not work) will end up in a situation comparable to the prohibition between 1920 to 1933 in the USA.

Maybe the current development will slow down the price surge (which is not too bad) but it will by far not prevent Bitcoin from being used.

[MatTheCat]

Too much trolling here ...

Chinese can regulate Bitcoin by law. But they cannot prevent the use of Bitcoin by people. Basically any try to lock out Bitcoin at all from China (which will not work) will end up in a situation comparable to the prohibition between 1920 to 1933 in the USA.

Maybe the current development will slow down the price surge (which is not too bad) but it will by far not prevent Bitcoin from being used.

The prohibition might have been good for the Mafia, but it certainly wasn't good for the liquor trade.

[gentlemand]

Anybody who thinks we're anywhere near decoupling from China is somewhat deluded.

It's going to take quite a while to get past it and I'm sure it'll continue to give prices the willies in the meantime. Events will chug on minus China regardless - eventually.

[GigaCoin]

Litecoin.org website and litecointalk forums are now banned in China by the government great firewall, this is also confirmed by one of litecoin developers.

as i said earlier, the ban is progressing as planned up to 31st jan deadline

[niothor]

Litecoin.org website and litecointalk forums are now banned in China by the government great firewall, this is also confirmed by one of litecoin developers.

Even Litecoin?
And china was supposed to love litecoin =))))

[cbeast]

China bans bitcoin/litecoin mining hardware

Yep, not a single GPU will be made or sold in China with immediate effect   

right you are. All CPUs are banned as well. No computers, tablets, or cellphones are allowed to be made or sold in China. 

[niothor]

China bans bitcoin/litecoin mining hardware

Yep, not a single GPU will be made or sold in China with immediate effect   

right you are. All CPUs are banned as well. No computers, tablets, or cellphones are allowed to be made or sold in China. 

The chinese will go to manual hashing , no problem ))))

[TERA]

Why do people always compare bitcoin prohibition to drug/alcohol prohibition? They seem nothing alike. The human urge to get high is much much stronger than the urge to invest/gamble with one particular asset class.

Also, in the case of China, the Chinese are much more fearful of their government than Americans are. If the Chinese government banned alcohol, there might not be much of a protest.

[cbeast]

China bans bitcoin/litecoin mining hardware

Yep, not a single GPU will be made or sold in China with immediate effect    

right you are. All CPUs are banned as well. No computers, tablets, or cellphones are allowed to be made or sold in China.  

The chinese will go to manual hashing , no problem ))))

China introduces Abacuscoin!

[niothor]

China bans bitcoin/litecoin mining hardware

Yep, not a single GPU will be made or sold in China with immediate effect    

right you are. All CPUs are banned as well. No computers, tablets, or cellphones are allowed to be made or sold in China.  

The chinese will go to manual hashing , no problem ))))

China introduces Abacuscoin!

Weird , is not taken already. Go for it: http://coingen.io/status.html. =)))

[freddyfarnsworth]

""China introduces Abacuscoin!""

That would work, I would think the past history would teach what it does to stifle something.

[JimboToronto]

China bans bitcoin/litecoin mining hardware

Yep, not a single GPU will be made or sold in China with immediate effect   

right you are. All CPUs are banned as well. No computers, tablets, or cellphones are allowed to be made or sold in China. 

The chinese will go to manual hashing , no problem ))))

New Chinese Bitcoin mining rig:

[freddyfarnsworth]

Make Abacuscoin only mineable with i386dx chips, so there will be a run at all the landfills.

[niothor]

Make Abacuscoin only mineable with i386dx chips, so there will be a run at all the landfills.

Make that iAPX 86 , have them dig a bit deeper.

[Xer0]

Including but not limited to:
1)      Bitcoin, Wright coins, coins Biot, Quark coins, unlimited coins, cocoa coins, pennies coins, PPCoin , NameCoin such as virtual currency ;

[/quote]
they did not list Litecoin. to the moon!

[niothor]

Including but not limited to:
1)      Bitcoin, Wright coins, coins Biot, Quark coins, unlimited coins, cocoa coins, pennies coins, PPCoin , NameCoin such as virtual currency ;

they did not list Litecoin. to the moon!
[/quote]

What do you think wright coins is? =)))) or cocoa coins?

[Xer0]

Including but not limited to:
1)      Bitcoin, Wright coins, coins Biot, Quark coins, unlimited coins, cocoa coins, pennies coins, PPCoin , NameCoin such as virtual currency ;

they did not list Litecoin. to the moon!

What do you think wright coins is? =)))) or cocoa coins?

something... edible?

[piramida]

Ok, click on this:

http://s.taobao.com/search?q=bitcoin+miner&keyword=&commend=all&ssid=s5-e&search_type=item&atype=&tracelog=&sourceId=tb.index&rt=1389135397382&source=haiwaigou&pid=mm_14507416_2297358_8935934&unid=

/thread

[niothor]

Ok, click on this:

http://s.taobao.com/search?q=bitcoin+miner&keyword=&commend=all&ssid=s5-e&search_type=item&atype=&tracelog=&sourceId=tb.index&rt=1389135397382&source=haiwaigou&pid=mm_14507416_2297358_8935934&unid=

/thread

How many of those are fake , I wonder...
Crap , I spent to much time playing with "speak like yoda".

[Dragonkiller]

you can make bad news come out of china whenever you want. perfect FUD source for manipulators

[SaltySpitoon]

What a stupid FUD.  If ebay, an US company,  banned bitcoin miner trading, does it mean the US banned bitcoin miner?

Ebay has more or less banned Bitcoin miners. Try selling miners on Ebay.com and you either get your listings taken down, or you have absolutely no sellers protections.

[freddyfarnsworth]

Only prepay, and contracts (those rippoff artists).

[niothor]

Ok, click on this:

http://s.taobao.com/search?q=bitcoin+miner&keyword=&commend=all&ssid=s5-e&search_type=item&atype=&tracelog=&sourceId=tb.index&rt=1389135397382&source=haiwaigou&pid=mm_14507416_2297358_8935934&unid=

/thread

http://www.google.com/translate?hl=en&ie=UTF8&sl=auto&tl=en&u=http%3A%2F%2Frule.taobao.com%2Fdetail-1358.htm%3Fspm%3D0.0.0.0.FmkChchttp%3A%2F%2F

It is mentionned that it takes effect on January 14th.

Now seriously , can someone translate those coins to pure English.
I'm dying to know which one is cocoa coin

[disclaimer201]

Eternal Jean-Luc facepalm at proudhon since 2011. He's still waiting for single digits.

[crazy_rabbit]

What a stupid FUD.  If ebay, an US company,  banned bitcoin miner trading, does it mean the US banned bitcoin miner?

Ebay has more or less banned Bitcoin miners. Try selling miners on Ebay.com and you either get your listings taken down, or you have absolutely no sellers protections.

There are a heck of a lot of bitcoin miners on ebay.

[crazy_rabbit]

Do you people think this could extend to the manufacturing of asic chips?

I doubt it.

[Dafar]

What's next though.. China bans bitcoin/litecoin mining period?

That's a huge chunk of miners gone.

[disclaimer201]

Let them do what they will. Only thing that will happen is they get left out of a billion dollar market. In fact, it is so unlikely any country would willingly sabotage its own profit margins with such legislation that I find it much more likely this is all a big FUD campaign to buy bitcoins cheaply and manipulate the market. One legislation today, another in three months. Loopholes etc... The Chinese are not dumb.

[freddyfarnsworth]

Never dumb, but would take from the people to mine themselves doncha think...

[N12]

Does anyone qualified know whether the "Bitcoin mining" ban refers to Taobao only or whether it is an order from the PBOC to the whole of China?

I looked at it in Google Translate yesterday, but it looked unclear to me. It would surprise me if they really banned Bitcoin mining nationally. We have seen no drop in hashrate nor have we seen news reports about this, so probably not.

[niothor]

Does anyone qualified know whether the "Bitcoin mining" ban refers to Taobao only or whether it is an order from the PBOC to the whole of China?

I looked at it in Google Translate yesterday, but it looked unclear to me. It would surprise me if they really banned Bitcoin mining nationally.

Blitz , I wondered for one month , why the hell we have a Chinese subforum when we can't  get any accurate translation or news of what is happening there.
After the first announce in early December it took almost a week to get a poorly translated text which didn't clear anything.

[nastybit]

Does anyone qualified know whether the "Bitcoin mining" ban refers to Taobao only or whether it is an order from the PBOC to the whole of China?

I looked at it in Google Translate yesterday, but it looked unclear to me. It would surprise me if they really banned Bitcoin mining nationally.

Blitz , I wondered for one month , why the hell we have a Chinese subforum when we can't  get any accurate translation or news of what is happening there.
After the first announce in early December it took almost a week to get a poorly translated text which didn't clear anything.

This, exactly this! Any news coming from China stays in the uncertainty limbo for a while until somebody on the west decide to look it up
Sometimes I wonder if all this China craziness is completely made up, seriously how is it possible??

[hlynur]

Does anyone qualified know whether the "Bitcoin mining" ban refers to Taobao only or whether it is an order from the PBOC to the whole of China?

I looked at it in Google Translate yesterday, but it looked unclear to me. It would surprise me if they really banned Bitcoin mining nationally.

Blitz , I wondered for one month , why the hell we have a Chinese subforum when we can't  get any accurate translation or news of what is happening there.
After the first announce in early December it took almost a week to get a poorly translated text which didn't clear anything.

+1

would be really good to have some trustable users from chinese subforum who could shed light on what's going in china on a regular basis.
i saw the same problem on AsicMiner thread when a chinese interview with friedcat took quite some time until it appeared there.
unfortunately it seems to me there are rarely chinese users on the english forum, at least we get updates like this one from time to time
which recalibrate the perspective on the current situation there.

[ElectricMucus]

http://money.cnn.com/2014/01/09/news/bitcoin-alibaba/index.html

Alibaba just did the same thing taobao did.

[manfred]

http://money.cnn.com/2014/01/09/news/bitcoin-alibaba/index.html

Alibaba just did the same thing taobao did.

Alibaba owns Taobao

[ElectricMucus]

http://money.cnn.com/2014/01/09/news/bitcoin-alibaba/index.html

Alibaba just did the same thing taobao did.

Alibaba owns Taobao

makes sense, although alibaba is mainly export/B2B related.

I guess we can expect the same thing taking place on all Alibaba group sites.
http://en.wikipedia.org/wiki/Alibaba_Group