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empoweoqwj
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January 09, 2014, 01:51:10 AM |
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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 .... |
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According to NIST and ECRYPT II, the cryptographic algorithms used in
Bitcoin are expected to be strong until at least 2030. (After that, it
will not be too difficult to transition to different algorithms.)
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oakpacific
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January 09, 2014, 01:51:59 AM |
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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. |
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notthematrix
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January 09, 2014, 01:53:56 AM |
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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 |
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empoweoqwj
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January 09, 2014, 02:59:18 AM |
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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? |
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oakpacific
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January 09, 2014, 04:41:27 AM |
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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. |
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SirWilliam
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January 09, 2014, 09:27:51 AM |
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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.... 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. |
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empoweoqwj
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January 09, 2014, 10:42:26 AM |
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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. |
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oakpacific
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January 09, 2014, 01:06:24 PM |
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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. |
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oakpacific
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January 09, 2014, 02:40:35 PM |
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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. |
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SirWilliam
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January 09, 2014, 03:40:29 PM |
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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  |
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oakpacific
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January 09, 2014, 04:21:44 PM |
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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. |
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SirWilliam
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January 09, 2014, 06:03:56 PM |
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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.
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