Warning: Huobi has closed their personal bank accounts system

[yomofo]

http://www.cryptocoinsnews.com/2014/01/12/warning-huobi-has-closed-personal-bank-accounts-system/

http://www.reddit.com/r/Bitcoin/comments/1v0wrz/warning_huobi_has_closed_their_personal_bank/?already_submitted=true


Huobi screenshot
https://i.imgur.com/k7tGZzR.jpg

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[ImI]

i was under the impression that bank-accounts couldnt be used anymore in china to fund bitcoin-exchanges.

what the f*** is going on there? i dont get china!

whats all this voucher-stuff then all about when its still possible to fund huobi via bank-transfer?!

[T.Stuart]

This is FUD.

Read it properly like this:

Re-posted as good news:

"Huobi have now switched to funding using a business account where as previously account funding was being made to the CEO's personal account.
The option to fund to his personal account has been removed. This could be good news because the bank has obviously agreed this is OK.
RMB transfer to Huobi's business bank account with China Construction Bank, also registered in Shangdi, Beijing, account number 1100 1045 3000 5301 4342 (does Not support ATM deposits or third-party transfers)."

http://www.reddit.com/r/Bitcoin/comments/1v0y3m/huobi_account_funding_switched_to_a_bank_business/

[segeln]

i dont get china!

nor do I

[hd060053]

last chance to get cheap coins,

[Kramerc]

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

Funny how the market sentiment resembles with these chinese news.

[smoothie]

last chance to get cheap coins,

Lol don't speak too soon.

[Apostata]

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

Great observation.  And who made this news?

[Satyre_Noir]

I'm tired with China, China this , China that... screw them 

[ElectricMucus]

This is FUD.

Read it properly like this:

Re-posted as good news:

"Huobi have now switched to funding using a business account where as previously account funding was being made to the CEO's personal account.
The option to fund to his personal account has been removed. This could be good news because the bank has obviously agreed this is OK.
RMB transfer to Huobi's business bank account with China Construction Bank, also registered in Shangdi, Beijing, account number 1100 1045 3000 5301 4342 (does Not support ATM deposits or third-party transfers)."

http://www.reddit.com/r/Bitcoin/comments/1v0y3m/huobi_account_funding_switched_to_a_bank_business/

The question is: For how long?

[TERA]

Isn't it kind of fishy how huobi started that massive dump as soon as this was posted on reddit and such? I wonder if the traders at huobi are they same ones who orchestrate all the FUD and maybe even the good news also and they're just playing this whole market like a fiddle, ping ponging all the traders back and forth.

[GigaCoin]

Good we don't need them.

[yomofo]

http://www.coindesk.com/bitcoin-price-falls-btc-china-exchange-shuts-fiat-deposits/

CoinDesk has since spoken to Bobby Lee again, who  clarified that all payments from banks require third party processor involvement, and that Internet payments from banks had been possible until his relationship with TenPay and subsequently YeePay were severed. Without these relationships, it was unable to process RMB payments into its customers’ accounts.

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.

[traderCJ]

last chance to get cheap coins,

If you expect no other bad news in the next few weeks, you might be right.  But you'd be a fool to expect that.  Sell the FUD, buy the news.

[notig]

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

[traderCJ]

Good we don't need them.

Agreed, but the question is what is a reasonable price for BTC if/when the Chinese exchanges get shut down?

[BitCoinNutJob]

china meh

[RandyMagnum]

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

[MatTheCat]

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).

[hyphymikey]

Bears scream bad news, bulls scream that bears are spreading FUD and the news is actually good news.

The fact that accounts have to opened and closed, is BAD NEWS no matter which way you think about it.

China gov't will have their way with this soon.