[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…..)

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[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...

[empoweoqwj]

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…..)

This was announced days ago ....

[oakpacific]

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?

Well, probably only poor suckers like you will get scared the hell out of you by some crazy ass dictators anyway, like those who sold me their coins at CNY 2000.

Meanwhile huobi continues to be the largest exchange in terms of volume.

[notthematrix]

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...

Well then you buy Items from hong kong.
hong kong will be used as a loop what is the case manny times.


https://www.huobi.com/ still does accept RMB deposits

[empoweoqwj]

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?

Well, probably only poor suckers like you will get scared the hell out of you by some crazy ass dictators anyway, like those who sold me their coins at CNY 2000.

Meanwhile huobi continues to be the largest exchange in terms of volume.

If you believe their stats - wasn't it reported they were completely rigged?

[oakpacific]

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?

Well, probably only poor suckers like you will get scared the hell out of you by some crazy ass dictators anyway, like those who sold me their coins at CNY 2000.

Meanwhile huobi continues to be the largest exchange in terms of volume.

If you believe their stats - wasn't it reported they were completely rigged?

That's OKCoin, as for Huobi, I actually tried to measure it by conducting a series of trades at different times, all of my orders went through, according to the bids/asks listed on the page at the moment, and I can always withdraw what I have in my account, based on the speed at which the orders are filled, I would say it's indeed plausible that Huobi has the volume it claims.

But maybe it's just me and I should really register a few more accounts for the test, I encourage you to try yourself as well.

[SirWilliam]

I am not sure you understand my point. I was just pointing out that China is largely irrelevant at this point. Despite it's large GDP, in the end it is just another primitive 3rd-world dictatorship and it will remain so as long as its citizens tolerate being ruled over by a tiny, corrupt, unelected elite. China's bitcoin economy is being crushed by these ignorant, megalomaniacal, hereditary leaders and it will be left in the dust by countries which have at least some facade of democracy which stops "fearless leaders" from handing down holy pronouncements to CEOs to ban everything they don't understand  .

As for selling bitcoin below 2000 Chinese monopoly money. Well THANK GOD I wasn't born in China so I have the freedom to buy and sell however much I want whenever I want. That said, I bought all my bitcoin below US$100 and I have NOT sold a single tiny fraction of it. If the ignorant Chinese gamblers who are so terrified of their glorious party leaders didn't start freaking out every time they hear a rumor then the price never would have gotten down to 2000 CNY.

Anyway, good luck to the serious bitcoin investors and users in China, they are going to need it. The unfortunate fact is that there is no rule of law or financial freedom in China and people unlucky enough to be prisoners in that dystopia can't just ignore their infallible masters.

Not that it's going to have an effect on bitcoin in the longterm, it will just hurt China and its people....

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?

Well, probably only poor suckers like you will get scared the hell out of you by some crazy ass dictators anyway, like those who sold me their coins at CNY 2000.

Meanwhile huobi continues to be the largest exchange in terms of volume.

[empoweoqwj]

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?

Well, probably only poor suckers like you will get scared the hell out of you by some crazy ass dictators anyway, like those who sold me their coins at CNY 2000.

Meanwhile huobi continues to be the largest exchange in terms of volume.

If you believe their stats - wasn't it reported they were completely rigged?

That's OKCoin, as for Huobi, I actually tried to measure it by conducting a series of trades at different times, all of my orders went through, according to the bids/asks listed on the page at the moment, and I can always withdraw what I have in my account, based on the speed at which the orders are filled, I would say it's indeed plausible that Huobi has the volume it claims.

But maybe it's just me and I should really register a few more accounts for the test, I encourage you to try yourself as well.

They won't mess with real accounts. They would just invent fake accounts and increase volume that way.

[oakpacific]

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?

Well, probably only poor suckers like you will get scared the hell out of you by some crazy ass dictators anyway, like those who sold me their coins at CNY 2000.

Meanwhile huobi continues to be the largest exchange in terms of volume.

If you believe their stats - wasn't it reported they were completely rigged?

That's OKCoin, as for Huobi, I actually tried to measure it by conducting a series of trades at different times, all of my orders went through, according to the bids/asks listed on the page at the moment, and I can always withdraw what I have in my account, based on the speed at which the orders are filled, I would say it's indeed plausible that Huobi has the volume it claims.

But maybe it's just me and I should really register a few more accounts for the test, I encourage you to try yourself as well.

They won't mess with real accounts. They would just invent fake accounts and increase volume that way.

If you put it that way, then I would say to a small time trader like me, for a zero trading-fee exchange like Huobi there is really no difference between coins changing hands between puppet accounts controlled by site opreators or controlled by some big whales(or maybe even me if I can be bothered to put together a bot), while the volume created by the later is usually considered somehow "real", I could totally understand it if you still consider it rigged though.

[oakpacific]

I am not sure you understand my point. I was just pointing out that China is largely irrelevant at this point. Despite it's large GDP, in the end it is just another primitive 3rd-world dictatorship and it will remain so as long as its citizens tolerate being ruled over by a tiny, corrupt, unelected elite. China's bitcoin economy is being crushed by these ignorant, megalomaniacal, hereditary leaders and it will be left in the dust by countries which have at least some facade of democracy which stops "fearless leaders" from handing down holy pronouncements to CEOs to ban everything they don't understand   .

Yeah, let's give up peaceful regime change with monetary revolution and pick up guns and fight the hell out of it.

Money talks everywhere, people will see their interest and flock to where it's best protected(i.e., the free market), isn't that the whole point of Bitcoin?

 

As for selling bitcoin below 2000 Chinese monopoly money. Well THANK GOD I wasn't born in China so I have the freedom to buy and sell however much I want whenever I want. That said, I bought all my bitcoin below US$100 and I have NOT sold a single tiny fraction of it. If the ignorant Chinese gamblers who are so terrified of their glorious party leaders didn't start freaking out every time they hear a rumor then the price never would have gotten down to 2000 CNY.

Last time I checked, I can still buy with bank transfer, just like any U.S/European citizen, and I do not need to submit copies of my ID/residence proof, just my ID card number, period.

I bought all my coins when they were below $10, good times, when wires to Gox took only a day or two.

Anyway, good luck to the serious bitcoin investors and users in China, they are going to need it. The unfortunate fact is that there is no rule of law or financial freedom in China and people unlucky enough to be prisoners in that dystopia can't just ignore their infallible masters.

No rule of law means greater financial freedom sometimes , when it comes down to money, no one who can accumulate much in the system is a fool and genuinely believes the Ponzi scheme can last forever, soon the CCP apparatchiks could not just ignore Bitcoin, and nothing, but blockchain is infallible in this world.

Not that it's going to have an effect on bitcoin in the longterm, it will just hurt China and its people....

No longterm effect for sure, it will hurt no one but those practice backward-thinking.

[SirWilliam]

Hey I wasn't suggesting violent revolution  . Wouldn't be a bad thing if more Chinese citizens were more open about how corrupt and just plain ignorant their leaders are however. No government that uses mafia techniques to pressure CEOs to crush new technology should have the respect of tech-savvy citizens.

I mean it is rather disappointing how childishly the PBOC and Chinese gov't are going about trying to "protect" their citizens from bitcoin. All this secret strong-arming of secondary companies that provide services related to bitcoin and all this simplistic propaganda to "justify" what they are doing. There is very little reference even to their own laws in this garbage. It sounds more like something from North Korea than a modern state that leads finance and technology.

Not that I much prefer the Federal Reserve or the ECB and all the Western Governments and their "cold war" against bitcoin hehe. It's just pretty embarrassing to see Chinese gov't and corporations always in the news with crazy declarations that sound like something from some Banana Republic. Not to mention the endless fraud scandals of US-listed Chinese companies.

Look at Bobby Lee scrambling to jump through hoops and think up some convoluted system to continue letting people trade while he grovels at the feet of the officials, repeating endlessly how he doesn't intend to challenge the gov't and he wants to cooperate. Meanwhile the officials are swatting down everything he thinks up like a game of Whack-A-Mole

Plus the general issues of the internet censorship and blockage, like they have blocked the Guardian UK website recently (nobody even knows why) and the thing about the ban on game consoles and censorship of all sorts of media.

Personally I am sick of the oligarchy we have in the West and I hope Bitcoin can help combat the central and private bank monopolies but there is no reason that Chinese shouldn't be furious about the "paternal" treatment they receive from their own gov't.

It certainly will be interesting to see what happens in the next few months when all these deadlines for banning things and stopping transactions pass in China.

Obviously I have nothing against you personally, I agree with just about everything you say in your post and I hope more and more people in China start to think in the way you suggest. Asia sure can help bring more power to the people, what with all those people they have...

BTW, you bought under $10? Jeeez, I am jealous of that my friend 

[oakpacific]

Hey I wasn't suggesting violent revolution   . Wouldn't be a bad thing if more Chinese citizens were more open about how corrupt and just plain ignorant their leaders are however. No government that uses mafia techniques to pressure CEOs to crush new technology should have the respect of tech-savvy citizens.

I mean it is rather disappointing how childishly the PBOC and Chinese gov't are going about trying to "protect" their citizens from bitcoin. All this secret strong-arming of secondary companies that provide services related to bitcoin and all this simplistic propaganda to "justify" what they are doing. There is very little reference even to their own laws in this garbage. It sounds more like something from North Korea than a modern state that leads finance and technology.

Not that I much prefer the Federal Reserve or the ECB and all the Western Governments and their "cold war" against bitcoin hehe. It's just pretty embarrassing to see Chinese gov't and corporations always in the news with crazy declarations that sound like something from some Banana Republic. Not to mention the endless fraud scandals of US-listed Chinese companies.

Look at Bobby Lee scrambling to jump through hoops and think up some convoluted system to continue letting people trade while he grovels at the feet of the officials, repeating endlessly how he doesn't intend to challenge the gov't and he wants to cooperate. Meanwhile the officials are swatting down everything he thinks up like a game of Whack-A-Mole

Plus the general issues of the internet censorship and blockage, like they have blocked the Guardian UK website recently (nobody even knows why) and the thing about the ban on game consoles and censorship of all sorts of media.

Personally I am sick of the oligarchy we have in the West and I hope Bitcoin can help combat the central and private bank monopolies but there is no reason that Chinese shouldn't be furious about the "paternal" treatment they receive from their own gov't.

It certainly will be interesting to see what happens in the next few months when all these deadlines for banning things and stopping transactions pass in China.

Obviously I have nothing against you personally, I agree with just about everything you say in your post and I hope more and more people in China start to think in the way you suggest. Asia sure can help bring more power to the people, what with all those people they have...

BTW, you bought under $10? Jeeez, I am jealous of that my friend  

Yeah, I was pretty much in this because all other means of "subversion" have failed disastrously, nothing was fit for the job of taking down a poweful enough oligarchy, the CCP managed to crush everything, including Twitter, the rock star of the "Arab Spring", it was about time something like Bitcoin to make its premiere to the world, however you look at it.

I used to support U.S hegemony because I failed to see a better way out(Chinese/Russian obviously not an alternative), turned out that I am no Satoshi Nakamoto

I am confident that we are not bound to be left behind, oppressive terrains are even more suitable for Bitcoin to grow, that's what it's for. There are still all kinds of methods to try, I think Bobby is probably just a bit unimaginative, cryptographically.

  

[SirWilliam]

It's great to hear from someone like you who sees bitcoin as an alternative way to resist against corrupt power. It sure is about time for bitcoin, Europe and the US need something like it pretty badly too, especially Europe.

I used to love the idea that China was about to become the most powerful force in the world, at least it would break US hegemony heh. Then recently I've just decided that the elite all over the world is about the same, all looking out for themselves and seeing the rest of us as "the little people." I saw a lecture by a Chinese labor activist at my local library a couple of months ago and he was clear about his criticism of both the Chinese govt and the Western govts and corporations. He pretty much said that the Chinese ruling class is corrupt but that direct opposition by the citizens is impossible and counterproductive. He said something similar to what you mentioned about the best way to resist being to take advantage of the "wild west" legal situation.

Of course you are correct that bitcoin is designed to evade control in oppressive political/financial situations and the Chinese public certainly are very inventive. I really look forward to seeing how the exchanges handle this regulatory attack and whether other alternatives to exchanges might grow into a major way for people to trade bitcoin in China.