BTCchina IS BACK, bank deposits restored!!!

[TERA]

Using drugs is a strong human nature. Investing in one particular type of speculative asset is not - there are plenty others. Most of these Chinese are gamblers and will gladly just move on to the next volatile asset or to the roulette wheel and forget all about bitcoin. I don't see any black market emerging with any volume comparible at all to current volumes.

[mgburks77]

Investing in one particular type of speculative asset is not

greed is not human nature?

mmm...I don't know. Endorphins is endorphins.

[TERA]

Investing in one particular type of speculative asset is not

greed is not human nature?

mmm...I don't know. Endorphins is endorphins.

They can be greedy with something else. There are plenty.

[mgburks77]

Investing in one particular type of speculative asset is not

greed is not human nature?

mmm...I don't know. Endorphins is endorphins.

They can be greedy with something else. There are plenty.

time will tell

[seriouscoin]

We need confirmation that this is incorrect, preferably in a foreign language source (russian or chinese for best confirmation)

Obviously it is not true, BTC is over in china, and on the 31st it will crash.

Bitcoin has already crashed. on the 31st it will do nothing. dont you get it?

Lol, it's far from ''crashed''.
It will at least drop to the 350-450 range.

Exactly. These people don't get it. Banks aren't just banned from dealing "IN" bitcoin, as the PBOC notice explicitly says. They are are also (implicitly) banned from dealing WITH bitcoin-related companies. This isn't stated directly but it's obviously implied; my sources from within the PBOC confirm this in the chinese language. So even if BTCchina allowed bank deposits, it would be illegal and their bank would be immediately shut down by Chinese regulatory authorities.

Confirmed.

On the 31st we are going down, and I think 350-450 is optimistic, weird troll guy who thread-spams constantly.

Hey dumbass, didnt you know today and 31st is no different? All banking is already closed. You think ppl wait for that exact day to cash out?

Good luck with your wish, idiot.

[chessnut]

We need confirmation that this is incorrect, preferably in a foreign language source (russian or chinese for best confirmation)

Obviously it is not true, BTC is over in china, and on the 31st it will crash.

Bitcoin has already crashed. on the 31st it will do nothing. dont you get it?

Lol, it's far from ''crashed''.
It will at least drop to the 350-450 range.

Exactly. These people don't get it. Banks aren't just banned from dealing "IN" bitcoin, as the PBOC notice explicitly says. They are are also (implicitly) banned from dealing WITH bitcoin-related companies. This isn't stated directly but it's obviously implied; my sources from within the PBOC confirm this in the chinese language. So even if BTCchina allowed bank deposits, it would be illegal and their bank would be immediately shut down by Chinese regulatory authorities.

Confirmed.

On the 31st we are going down, and I think 350-450 is optimistic, weird troll guy who thread-spams constantly.

Hey dumbass, didnt you know today and 31st is no different? All banking is already closed. You think ppl wait for that exact day to cash out?

Good luck with your wish, idiot.

+1
The market is forward looking, unlike some investors here. stuck on the same old crap.

[GigaCoin]

If you go to vip.btcchina.com, under Guide and About BTC China Exchange, it is written that bank transfers are disabled.

so it is fake news afterall. I have a feeling though the markets will reach upwards today anyway.

[Peter R]

We need confirmation that this is incorrect, preferably in a foreign language source (russian or chinese for best confirmation)

Obviously it is not true, BTC is over in china, and on the 31st it will crash.

Bitcoin has already crashed. on the 31st it will do nothing. dont you get it?

Lol, it's far from ''crashed''.
It will at least drop to the 350-450 range.

Exactly. These people don't get it. Banks aren't just banned from dealing "IN" bitcoin, as the PBOC notice explicitly says. They are are also (implicitly) banned from dealing WITH bitcoin-related companies. This isn't stated directly but it's obviously implied; my sources from within the PBOC confirm this in the chinese language. So even if BTCchina allowed bank deposits, it would be illegal and their bank would be immediately shut down by Chinese regulatory authorities.

Confirmed.

On the 31st we are going down, and I think 350-450 is optimistic, weird troll guy who thread-spams constantly.

Hey dumbass, didnt you know today and 31st is no different? All banking is already closed. You think ppl wait for that exact day to cash out?

Good luck with your wish, idiot.

BitcoinAshley: you must use your [satire]...[/satire] tags when outside of the "Confirmed Bad News Thread."  Bitcoiners, as a rule, seem less than apt at discerning the real trolls from the fake ones.  

[GigaCoin]

Erm why are we discussing drugs here ? Is BTCchina selling drugs now 

[TERA]

Erm why are we discussing drugs here ? Is BTCchina selling drugs now  

For some reason people like to use drugs and prohibition to support an argument that the btc economy will retain the same strength even if bitcoin is banned by governments. I think drugs/prohibition and bitcoin usage is a loose and exaggerated relationship in that regard.

[Bitbuy]

Hahahahahahahaha, what a hopeless attempt to drive the price up.
If it was restored, BTC China would have made an official comment about it.

Tsss, you desperately need cheap coins, don't you 
You've been conducting attempts to drive the price down several days now.
Everybody knows that only confirmed Proudhon sources are to be reckoned with...

[Holliday]

Erm why are we discussing drugs here ? Is BTCchina selling drugs now  

For some reason people like to use drugs and prohibition to support an argument that the btc economy will retain the same strength even if bitcoin is banned by governments. I think drugs/prohibition and bitcoin usage is a loose and exaggerated relationship in that regard.

So do I. Financial freedom is far, far more important than using recreational drugs.

[Zarathustra]

Erm why are we discussing drugs here ? Is BTCchina selling drugs now  

For some reason people like to use drugs and prohibition to support an argument that the btc economy will retain the same strength even if bitcoin is banned by governments. I think drugs/prohibition and bitcoin usage is a loose and exaggerated relationship in that regard.

So do I. Financial freedom is far, far more important than using recreational drugs.

Yes. Now some gamblers only are disappearing, while the freedom fighting movement is growing steadily, exponentially. Government terror has been the driver of bitcoin from the very beginning. That can't reverse with ongoing terror.

[chessnut]

Erm why are we discussing drugs here ? Is BTCchina selling drugs now  

For some reason people like to use drugs and prohibition to support an argument that the btc economy will retain the same strength even if bitcoin is banned by governments. I think drugs/prohibition and bitcoin usage is a loose and exaggerated relationship in that regard.

So do I. Financial freedom is far, far more important than using recreational drugs.

Yes. Now some gamblers only are disappearing, while the freedom fighting movement is growing steadily, exponentially. Government terror was the driver of bitcoin from the very beginning. That can't reverse with ongoing terror.

well said

[aminorex]

Financial freedom is far, far more important than using recreational drugs.

Nothing recreational about it.  The ability to control your own biochemistry is the ability to control your own mind.  Without it, your very thoughts are under the control of others.  The freedom to think as you choose is much more important than the freedom to transact as you choose.

[TERA]

Erm why are we discussing drugs here ? Is BTCchina selling drugs now  

For some reason people like to use drugs and prohibition to support an argument that the btc economy will retain the same strength even if bitcoin is banned by governments. I think drugs/prohibition and bitcoin usage is a loose and exaggerated relationship in that regard.

So do I. Financial freedom is far, far more important than using recreational drugs.

I think it might be difficult to enjoy this financial "freedom" when you're behind bars.

Try to think about the mindset of the types of Chinese traders and investors we have been seeing - the ones really moving the price who are buying up 1,000 - 10,000btc a time. He is already rich and has millions. Now he wants to find a way to increase the size of his portfolio with an investment. He sees something called 'bitcoin' which is getting very popular, has historically done very well, and seems to have good fundamentals. It has risks also but this is outweighed by the hefty rewards. So he engages because he expects that he'll probably increase his portfolio and also the worst that can happen is that he loses some.

Now things have changed. Let's say the Chinese government has actually banned bitcoin. First off it's going to more difficult for the Chinese man to get his money in - he is going to need to go through some underground channel, where is at risk of a total loss. Then once he is in bitcoin the movement is going to be a bit weaker and the fundamentals slightly less because governments are banning bitcoin. He is now in a market where the midterm trend has been down and prone to crashing. Then in order to withdraw money he is going to need to go through another undeground source where he risks total loss. During all of these steps, he is also at risk of being discovered and arrested by his government. So now an investment that was once medium risk high reward is now ultra-high risk and medium reward. There are mutliple vectors in which he can make a total loss of his money, and the worst that can happen is no longer that he loses some money but that he ends up behind bars!

Now is it really worth it for the Chinese man to continue on with this type of investment? He is already rich, and was simply looking for a way to increase his portfolio. Now Bitcoin is no longer easy to do and has a chance to land him behind bars. Even if he became successful he would have to live a life of secrecy about how he did it. He was probably never interested in being a criminal. It's a completely different situation than before. Is it really worth it to take the risk of being behind bars to continue with this avenue of investment just to increase his portolio? I don't think so. I think he'd rather just move on to one of the other investment opportinities he was looking at which might have somewhat less returns but much less risk.

[chessnut]

Financial freedom is far, far more important than using recreational drugs.

Nothing recreational about it.  The ability to control your own biochemistry is the ability to control your own mind.  Without it, your very thoughts are under the control of others.  The freedom to think as you choose is much more important than the freedom to transact as you choose.

lol we need drugs to stop the butthurt of financial rape. get real, we have not evolved to require drugs in nature.

[Holliday]

Erm why are we discussing drugs here ? Is BTCchina selling drugs now  

For some reason people like to use drugs and prohibition to support an argument that the btc economy will retain the same strength even if bitcoin is banned by governments. I think drugs/prohibition and bitcoin usage is a loose and exaggerated relationship in that regard.

So do I. Financial freedom is far, far more important than using recreational drugs.

I think it might be difficult to enjoy this financial "freedom" when you're behind bars.

Try to think about the mindset of the types of Chinese traders and investors we have been seeing - the ones really moving the price who are buying up 1,000 - 10,000btc a time. He is already rich and has millions. Now he wants to find a way to increase the size of his portfolio with an investment. He sees something called 'bitcoin' which is getting very popular, has historically done very well, and seems to have good fundamentals. It has risks also but this is outweighed by the hefty rewards. So he engages because he expects that he'll probably increase his portfolio and also the worst that can happen is that he loses some.

Now things have changed. Let's say the Chinese government has actually banned bitcoin. First off it's going to more difficult for the Chinese man to get his money in - he is going to need to go through some underground channel, where is at risk of a total loss. Then once he is in bitcoin the movement is going to be a bit weaker and the fundamentals slightly less because governments are banning bitcoin. He is now in a market where the midterm trend has been down and prone to crashing. Then in order to withdraw money he is going to need to go through another undeground source where he risks total loss. During all of these steps, he is also at risk of being discovered and arrested by his government. So now an investment that was once medium risk high reward is now ultra-high risk and medium reward. There are mutliple vectors in which he can make a total loss of his money, and the worst that can happen is no longer that he loses some money but that he ends up behind bars!

Now is it really worth it for the Chinese man to continue on with this type of investment? He is already rich, and was simply looking for a way to increase his portfolio. Now Bitcoin is no longer easy to do and has a chance to land him behind bars. Even is he became successful he would have to live a life of secrecy about how he did it. He was probably never interested in being a criminal. It's a completely different situation than before. Is it really worth it to take the risk of being behind bars to continue with this avenue of investment just to increase his portolio? I don't think so. I think he'd rather just move on to one of the other investment opportinities he was looking at which might have somewhat less returns but much less risk.

Freedom isn't free. Sometimes you have to fight for it. Perhaps others think differently than I do, but the genie is out of the bottle with Bitcoin and I, personally, won't give up the power it provides to the individual.

You seem to think the only reason to be involved with Bitcoin is as an investment opportunity. That's simply an unintended (although necessary) consequence in my book.

[billyjoeallen]

Huge dump on BTC-e to 761 and dropping.

[TERA]

Erm why are we discussing drugs here ? Is BTCchina selling drugs now  

For some reason people like to use drugs and prohibition to support an argument that the btc economy will retain the same strength even if bitcoin is banned by governments. I think drugs/prohibition and bitcoin usage is a loose and exaggerated relationship in that regard.

So do I. Financial freedom is far, far more important than using recreational drugs.

I think it might be difficult to enjoy this financial "freedom" when you're behind bars.

Try to think about the mindset of the types of Chinese traders and investors we have been seeing - the ones really moving the price who are buying up 1,000 - 10,000btc a time. He is already rich and has millions. Now he wants to find a way to increase the size of his portfolio with an investment. He sees something called 'bitcoin' which is getting very popular, has historically done very well, and seems to have good fundamentals. It has risks also but this is outweighed by the hefty rewards. So he engages because he expects that he'll probably increase his portfolio and also the worst that can happen is that he loses some.

Now things have changed. Let's say the Chinese government has actually banned bitcoin. First off it's going to more difficult for the Chinese man to get his money in - he is going to need to go through some underground channel, where is at risk of a total loss. Then once he is in bitcoin the movement is going to be a bit weaker and the fundamentals slightly less because governments are banning bitcoin. He is now in a market where the midterm trend has been down and prone to crashing. Then in order to withdraw money he is going to need to go through another undeground source where he risks total loss. During all of these steps, he is also at risk of being discovered and arrested by his government. So now an investment that was once medium risk high reward is now ultra-high risk and medium reward. There are mutliple vectors in which he can make a total loss of his money, and the worst that can happen is no longer that he loses some money but that he ends up behind bars!

Now is it really worth it for the Chinese man to continue on with this type of investment? He is already rich, and was simply looking for a way to increase his portfolio. Now Bitcoin is no longer easy to do and has a chance to land him behind bars. Even is he became successful he would have to live a life of secrecy about how he did it. He was probably never interested in being a criminal. It's a completely different situation than before. Is it really worth it to take the risk of being behind bars to continue with this avenue of investment just to increase his portolio? I don't think so. I think he'd rather just move on to one of the other investment opportinities he was looking at which might have somewhat less returns but much less risk.

Freedom isn't free. Sometimes you have to fight for it. Perhaps others think differently than I do, but the genie is out of the bottle with Bitcoin and I, personally, won't give up the power it provides to the individual.

You seem to think the only reason to be involved with Bitcoin is as an investment opportunity. That's simply an unintended (although necessary) consequence in my book.

No what I think is that the majority of chinese investors saw it as an investment opportunity. I don't that over the course of a few months there were all the sudden all these die-hard bitcoin enthusiasts in China who had learned all about the technicalities of bitcoin and bitcoin idealism overnight.