Warning: Huobi has closed their personal bank accounts system

[windjc]

When did the change occur, middle of the night on a weekend, or?  Bizarre timing.

Well, just a few hours until Monday morning business hours in Beijing.

Will be interesting to see how the Huobi traders react. (interesting to those of us who have dissolved our Bitcoin positions, an absolutely nail biting anxiety trip for the HOLDERS, at least those of them who aren't too dumb to recognise the significance of this).

What am I missing?  Houbi was accepting deposits to the CEOs personal account and now they aren't. Is that was you are saying is going to create an impending market crash?

[jrretirement]

Funny how all these chinese news always come at a critical point for the market.

Great observation.  And who made this news?

+1. The Chinese seem to be playing puppet master over everyone now not just their own sheep (I mean people)! I kinda wish they would just get out of btc as they're screwing up a good thing!

BTC price should be heading north on the current good news overstock, newegg, new atm's etc.......

[emanymton]

Funny how all these chinese news always come at a critical point for the market.

Great observation.  And who made this news?

+1. The Chinese seem to be playing puppet master over everyone now not just their own sheep (I mean people)! I kinda wish they would just get out of btc as they're screwing up a good thing!

BTC price should be heading north on the current good news overstock, newegg, new atm's etc.......

Fortunately things are not as simplistic as you are suggesting.

[adamstgBit]

Funny how all these chinese news always come at a critical point for the market.

Great observation.  And who made this news?

+1. The Chinese seem to be playing puppet master over everyone now not just their own sheep (I mean people)! I kinda wish they would just get out of btc as they're screwing up a good thing!

BTC price should be heading north on the current good news overstock, newegg, new atm's etc.......

what the newegg news?

[traderCJ]

China still has me pretty spooked.  My hunch is there will be more bad news out of China before the month is out.  On the positive side, it'll probably be the only source of downward price pressure for awhile.  Elsewhere, we see increased adoption and generally a positive regulatory climate.

[hyphymikey]

Funny how all these chinese news always come at a critical point for the market.

Great observation.  And who made this news?

+1. The Chinese seem to be playing puppet master over everyone now not just their own sheep (I mean people)! I kinda wish they would just get out of btc as they're screwing up a good thing!

BTC price should be heading north on the current good news overstock, newegg, new atm's etc.......

what the newegg news?

A friend of mine that frequents overclock.net forums told me he read Newegg was thinking of accepting BTC. They are even selling mining kits now, so this would not surprise me. Let me text him and see if he can link me to any news.

[Siegfried]

Funny how all these chinese news always come at a critical point for the market.

Great observation.  And who made this news?

+1. The Chinese seem to be playing puppet master over everyone now not just their own sheep (I mean people)! I kinda wish they would just get out of btc as they're screwing up a good thing!

BTC price should be heading north on the current good news overstock, newegg, new atm's etc.......

It doesn't matter. If the Chinese situation is affecting the bitcoin price in a negative way, all that means is that the long-term rise in delayed and people have more time to acquire triple-digit bitcoins.

[traderCJ]

Funny how all these chinese news always come at a critical point for the market.

Great observation.  And who made this news?

+1. The Chinese seem to be playing puppet master over everyone now not just their own sheep (I mean people)! I kinda wish they would just get out of btc as they're screwing up a good thing!

BTC price should be heading north on the current good news overstock, newegg, new atm's etc.......

what the newegg news?

A friend of mine that frequents overclock.net forums told me he read Newegg was thinking of accepting BTC. They are even selling mining kits now, so this would not surprise me. Let me text him and see if he can link me to any news.

Newegg mentioned that they might accept Bitcoin in a tweet a few months ago.  That's the only peep I've heard about it.

[traderCJ]

Funny how all these chinese news always come at a critical point for the market.

Great observation.  And who made this news?

+1. The Chinese seem to be playing puppet master over everyone now not just their own sheep (I mean people)! I kinda wish they would just get out of btc as they're screwing up a good thing!

BTC price should be heading north on the current good news overstock, newegg, new atm's etc.......

It doesn't matter. If the Chinese situation is affecting the bitcoin price in a negative way, all that means is that the long-term rise in delayed and people have more time to acquire triple-digit bitcoins.

Short term, it most certainly matters.  This can make the difference between owning, say 100 XBT or 150 XBT.

[yomofo]

So why doesn't BTCchina use a business account?

also Huobi used to have 2 deposit options: CEO's personal account AND business account. Today they have ONE deposit option, the business account. the number of deposit methods has now been reduced.

Usually exchanges have press releases and announcements on positive news. i.e. BTCchina adopting bitcoin vouchers. This Huobi news came out of the blue.

[hyphymikey]

Funny how all these chinese news always come at a critical point for the market.

Great observation.  And who made this news?

+1. The Chinese seem to be playing puppet master over everyone now not just their own sheep (I mean people)! I kinda wish they would just get out of btc as they're screwing up a good thing!

BTC price should be heading north on the current good news overstock, newegg, new atm's etc.......

what the newegg news?

A friend of mine that frequents overclock.net forums told me he read Newegg was thinking of accepting BTC. They are even selling mining kits now, so this would not surprise me. Let me text him and see if he can link me to any news.

Newegg mentioned that they might accept Bitcoin in a tweet a few months ago.  That's the only peep I've heard about it.

http://thenextweb.com/insider/2014/01/10/newegg-teaser-suggests-the-us-online-retail-giant-may-begin-accepting-bitcoin-soon/

[keithers]

I must be interpreting the guidelines set forth by the Chinese government, because I thought the fact that it was being operated off of a personal bank account was the whole reason the exchange has been able to run.  By it being switched to a business account (although it seems trivial), it seems like only a matter of time where deposits will stop being able to be made on that exchange?

[Walsoraj]

Immediately converting bitcoin through a payment processor is not "accepting bitcoin." It is accepting fiat, both functionally and literally.

Newegg and Overstock are irrelevant.

You idiots.

[traderCJ]

Immediately converting bitcoin through a payment processor is not "accepting bitcoin." It is accepting fiat, both functionally and literally.

Newegg and Overstock are irrelevant.

You idiots.

There is a lag between the customer purchasing XBT, transferring XBT to a retailer, then the retailer liquidating XBT.  Alone, this will result in a price increase.  Basic economics.

[outofservice]

Is this FUD or true that it starts Tuesday?

EDIT:  this is what I'm talking about..

Reportedly, China's central bank will begin on Tuesday, prohibiting personal bank account through recharge (company account temporarily restricted) to the BTC trading platform. The amount of each stock trading platform will handle domestic liquidation before Chinese New Year.

[traderCJ]

Is this FUD or true that it starts Tuesday?

EDIT:  this is what I'm talking about..

Reportedly, China's central bank will begin on Tuesday, prohibiting personal bank account through recharge (company account temporarily restricted) to the BTC trading platform. The amount of each stock trading platform will handle domestic liquidation before Chinese New Year.

Source?

[outofservice]

Is this FUD or true that it starts Tuesday?

EDIT:  this is what I'm talking about..

Reportedly, China's central bank will begin on Tuesday, prohibiting personal bank account through recharge (company account temporarily restricted) to the BTC trading platform. The amount of each stock trading platform will handle domestic liquidation before Chinese New Year.

Source?

That's what I want to know. I can't find this in any of the articles, I think it's BS and trying to verify.

[traderCJ]

Is this FUD or true that it starts Tuesday?

EDIT:  this is what I'm talking about..

Reportedly, China's central bank will begin on Tuesday, prohibiting personal bank account through recharge (company account temporarily restricted) to the BTC trading platform. The amount of each stock trading platform will handle domestic liquidation before Chinese New Year.

Source?

That's what I want to know. I can't find this in any of the articles, I think it's BS and trying to verify.

Ok.  Where did you hear it then?

[outofservice]

Is this FUD or true that it starts Tuesday?

EDIT:  this is what I'm talking about..

Reportedly, China's central bank will begin on Tuesday, prohibiting personal bank account through recharge (company account temporarily restricted) to the BTC trading platform. The amount of each stock trading platform will handle domestic liquidation before Chinese New Year.

Source?

That's what I want to know. I can't find this in any of the articles, I think it's BS and trying to verify.

Ok.  Where did you hear it then?

BTC-e

[oakpacific]

i was under the impression that they only had a personal account. have they had the business account all along?

All along, they used both accounts for a while.