[2014-01-08] Chinese selling platforms banning ALL crypto currency related items

[razorfishsl]

Heads up guys…

This just in.

Starting next week ALL related crypto currency items will be banned on Taobao and Alibaba.
yep, that means EVERYTHING , including paying with cryptocurrencies

This sort of thing is usually a pre-cursor to some bigger news.

HF

Further update: High ranking government official  is to take 'personal control' of internet…
(That's a lot of screens to watch…..)

[el_rlee]

This sort of thing is usually a pre-cursor to some bigger news.

Like what? China banning Bitcoin?

[erono]

what about bitcoin usb miner?

[oakpacific]

Yup, like how they have banned VPN sales for years, worked out like a "charm", LOL

[Buffer Overflow]

So is China going to ban all CPU's, GPU's and FPGA's as well? I think not.

[el_rlee]

I guess it's sufficient to ban it for the masses. Smart individuals will arrange themselves with the system in China in a fortunate way.

[oakpacific]

I guess it's sufficient to ban it for the masses. Smart individuals will arrange themselves with the system in China in a fortunate way.

The masses will lose their bitcoins anyway, like those who sold at CNY 2000.

[bryant.coleman]

This has nothing to do with the Chinese regulations. Someone else is playing the dirty game here.

[SirWilliam]

Oh NO!! It just got worse, look at the press release below (sorry for the translation) and then SELL EVERYTHING!!!


"04:00 MUT (Mao Unverisal Time) Thursday 9/1, Winter Melon, Year of the Mindless Sheep
Office of the Supreme Overseer of Electric Typewriters, Department of Freedom, Progress and Capitalism
Tiananmen Square, Peking, People's Glorious Monarchy of China

We like inform loyal peasant users of Ding-Dong (glorious Chinese version of "the Internet") that effective starting the day of the Spring Starlight Festival the following items will be cancelled and banned from existence forever:

Bitcoins
Computers that could be used for prohibited bitcoins
Phone communication systems that could be used for bitcoins
Bits (including drill bits, horse bits, and kibbles and bits (bytes will still be allow, but not if cointain bits))
Coins
Wallets
The letter " BTC "
The letter "B" (look similar to evil letter above, peasants not know difference)
Related items such as Table Salt, Chess Pieces, Doorknobs, Paperclips, Electronic Devices

Peasant users attempting to mention these items after the Spring Starlight Festival will have organs harvested for glory of the people.

Be happy and bow low!"

There's also a post on the personal blog of "Yu Du Wot Ai Sei" Supreme Overseer of Electric Typewriters

"Issue of Bits of Coins and imaginary dream monies

I have watch with sadness as childlike peasant masses buying so-called "Bits of Coins" and other so forth imaginary dream currency in recent times. I have analyze this plague of strange concept profoundly with all my glorious Supreme Party Member wisdom and have discovered imaginary dream money is dangerous and irresponsible disease. Bits of Coins and dream money not are money! Peasants should understand, WE make money, is money, YOU make money is digital toilet paper. My opinion as World's Greatest Academic Economist and Electric Machine Expert let me understand all aspect of Bits of Coins and dream money. I tell you like father, you are bad children if you play with dream money. Please understand, all foreign devils, we not stop progress and technology but simply promote good understanding  among peasants about what is money and good practices of money and responsibility. Peasants need understand you use our money, you give us your money, you bow low! Still, peasant people have all freedom and democracy can want, and are free to trade, buy, sell and use Bits of Coins and dream currency. Only do so at their own risk and responsibility, this mean you understand 100% risk that if you mention Bits of Coins then you will be arrested, have organs harvested, executed by firing squad and body mixed into ground pork. Furthermore I encourage peasant people to continue good works of responsible people such as harvesting, cleaning sewers, spinning silk with putting proceeds in glorious Bank of China."

Looks bad huh?

There also a piece in the South Wang Mouthpiece Times:

°Reports come to our source that last night at 01:00 MUT CEO of all Ding-Dong companies were being kidnapped by tall men in black suits, beaten briefly and dragged behind state cars to the office of "Yu Du Wot Ai Sei"

There Supreme Overseer have informal meeting and give friendly advice to CEO. According to CEO Supreme Overseer say "My advice? You cancel Bits and Coins from history of universe." Ceo say remain free to do what want but if don't respect advice then tall men feed CEO into wood-chipper in garden of Supreme Overseer. CEO say understand completely concerns of Glorious Party and happy to cooperate with promoting good knowledge and responsibility to peasant scum. "I not challenge Supreme Beings, I carry out business in correct way and lick clean boots of master!" says modern technology leader CEO. Future is seeming doom for Bits and Coins and their traitorous followers."

I guess that's it guys, China is the high tech world leader and they say Ixnay on the Itcoinbay. MTGox price is already down to .00000001 cents per BTC on the news....

[Forexperiments]

So... bitcoin is banned by taobao (chinese ebay) and zhifubao (chinese paypal) exactly as bitcoin is banned by ebay and paypal (it's not exactly banned by ebay/paypal, but if you sell bitcoin with paypal, then the seller can get a chargeback and steal your money)
How this is news?

[SirWilliam]

LMAO, just to add to the hilarity:

China lifts 14-year-old ban on gaming consoles

http://money.cnn.com/2014/01/08/technology/china-video-games/index.html?hpt=hp_t3

Can we please stop pretending China is some sort of leader in tech and just admit they are just a bunch of poor suckers at the mercy of every whim of their crazy back asswards dictator leaders?

[Colin Miner]

So... bitcoin is banned by taobao (chinese ebay) and zhifubao (chinese paypal) exactly as bitcoin is banned by ebay and paypal (it's not exactly banned by ebay/paypal, but if you sell bitcoin with paypal, then the seller can get a chargeback and steal your money)
How this is news?

Even worse, if you sell mining equipment by ebay/paypal the transaction will be reversed and charged back if the seller complains, about anything.

Paypal is running very scared of bitcoin and are being really difficult when it comes to hardware.

I see the end of paypal very soon.

[Wekkel]

I guess the Bitcoin business goes elsewhere then.

= wind blowing through abandoned Chinese selling platform =

[undeadbitcoiner]

Lets not forget one thing, Where ever law are tightned Crimes happens more then usual. Chinese Government is going to loose BTC Tax
for Bitcoin its not going to effect.

[TraderTimm]

The hyperventilating-newbie-trading effect has been hilarious to watch. It will all be reversed by the coming Hong Kong announcement. I just don't know about the people on these forums anymore, seems that panic is really the only emotional response most have here.

China isn't out of the picture, even if all the round-eyes think it is.

[undeadbitcoiner]

It will all be reversed by the coming Hong Kong announcement.

That is what Chinese Investors already made there backup, Chinese investors are 1000 times ahead and smart in Investments because of there Governments Rule and Regulations.
HongKong market now running higher volume then BTC China and MtGox but there Traders are not all of HK remember guys they are 99% Chinese so Bitcoin will be invested by Chinese Traders so no need to worry.

[Forexperiments]

Don't forget WHY it has been banned.
China doesn't want that bitcoin is bought with Alipay, because it's not recorded and it's easy to do.
Bank transfer is ok, but it's complicated.

BTC China said, ok, can't deposit with Alipay. But you can buy a BTC voucher with Alipay and then redeem it for BTC. The same

[e521]

I guess it's sufficient to ban it for the masses. Smart individuals will arrange themselves with the system in China in a fortunate way.

Exactly, that's how you easily eradicate an idea from the masses, there will always be some kid/rich buying and selling bitcoins somehow but it will be not the revolution many expected, at least no more ATH from china

Don't forget WHY it has been banned.
China doesn't want that bitcoin is bought with Alipay, because it's not recorded and it's easy to do.
Bank transfer is ok, but it's complicated.

BTC China said, ok, can't deposit with Alipay. But you can buy a BTC voucher with Alipay and then redeem it for BTC. The same

Does it mean you can still buy voucher if advertised in Taobao and Alibaba?

[notthematrix]

I guess it's sufficient to ban it for the masses. Smart individuals will arrange themselves with the system in China in a fortunate way.

Exactly, that's how you easily eradicate an idea from the masses, there will always be some kid/rich buying and selling bitcoins somehow but it will be not the revolution many expected, at least no more ATH from china

Don't forget WHY it has been banned.
China doesn't want that bitcoin is bought with Alipay, because it's not recorded and it's easy to do.
Bank transfer is ok, but it's complicated.

BTC China said, ok, can't deposit with Alipay. But you can buy a BTC voucher with Alipay and then redeem it for BTC. The same

Does it mean you can still buy voucher if advertised in Taobao and Alibaba?

Yep its just one step extra.
in practise it does not matter same happans in other countrys like argentina.
Only US en europa masses , see govnment as friend.....
the revolution will only be slowed down a little bit if any.

[Forexperiments]

Does it mean you can still buy voucher if advertised in Taobao and Alibaba?

Yes. That's why from next week they'll ban every bitcoin related auction...