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Author Topic: China orders banks to shut Bitcoin exchange accounts  (Read 3248 times)
windpath
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March 27, 2014, 03:25:05 PM
 #21


True or not, looks like markets coming back up after a ~10% drop on the news...


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Lordoftherigs
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March 27, 2014, 03:29:16 PM
 #22

how much longer until we will know for sure that this was a hoax ?
MykelSilver
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March 27, 2014, 03:31:01 PM
 #23

I follow this story further on http://www.coindesk.com/bitcoin-price-drops-new-chinese-bank-rumours/
Coindesk seems more serious in comparison to all these rumour news sites
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March 27, 2014, 03:36:18 PM
 #24

Unfortunately, this is how things happen in China.  Everything is presented as rumor to act as a warning before official announcements are released.

First, I feel sorry for the Chinese Bitcoin enthusiasts and I'm sure they will find away around the government meddling.

Secondly, Fuck the corrupt Chinese Government.  They are doing everything in their power to prevent capital from fleeing the country in the face of an imploding economy as indicated by the increasing number of corporate defaults and the beginning of the end of their real estate bubble.

Corruption in China makes the USA look like paradise.


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March 27, 2014, 03:40:08 PM
 #25

Centralised exchanges need to go the way of the dinosaur in order to prevent these huge panicks and price drops.

Hopefully, the bitcoin community will develop a solution to this problem soon.  Decentralised exchanges?

Lordoftherigs
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March 27, 2014, 03:49:29 PM
 #26

Centralised exchanges need to go the way of the dinosaur in order to prevent these huge panicks and price drops.

Hopefully, the bitcoin community will develop a solution to this problem soon.  Decentralised exchanges?

Exchanges are certainly happy form all this fuzz, more than 11k BTCs traded in less than hour.
ebliever
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March 27, 2014, 03:56:44 PM
 #27

Banks are as relevant to bitcoin as the U.S. Postal Service is to email, and they share pretty much the same relationship. So after the initial reaction to this news, I doubt it will have much long term impact even if true.

Luke 12:15-21

Ephesians 2:8-9
C10H15N
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March 27, 2014, 04:00:22 PM
 #28

My educated response:  Big F**king Woo!   Cheesy

Only when the tide goes out do you discover who's been swimming naked. -Warren Buffett
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March 27, 2014, 04:02:06 PM
 #29

The opportunity to buy in has arisen.

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C10H15N
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March 27, 2014, 04:04:32 PM
 #30

...and I'm taking advantage of it.  Cheesy

Only when the tide goes out do you discover who's been swimming naked. -Warren Buffett
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March 27, 2014, 04:05:57 PM
 #31

...and I'm taking advantage of it.  Cheesy
Then we have a smart buyer here.

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TTM
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March 27, 2014, 04:19:18 PM
 #32

It remain unclear whether this rumor is correct or not. As far as i know, Caixin is reputable source about finance in China. If it is true, the price might be dropped even much lower, 300 or 400. We'll have to wait for official confirmation/denial from PBOC or commercial banks in China.

In communist or totalitarian states, authorities want to control everything. If there is something they can't control, they'll want to ban or block it.
C10H15N
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March 27, 2014, 04:23:38 PM
 #33

Then we have a smart buyer here.

"Be fearful when others are greedy and greedy when others are fearful" - Warren Buffett

Time to shear the sheep.  Cheesy

Only when the tide goes out do you discover who's been swimming naked. -Warren Buffett
equinox9
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March 27, 2014, 04:28:58 PM
 #34

Then we have a smart buyer here.

"Be fearful when others are greedy and greedy when others are fearful" - Warren Buffett

Time to shear the sheep.  Cheesy


Bitcoin is a moneygram...a mirage - Warren Buffet

lol
C10H15N
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March 27, 2014, 04:31:57 PM
 #35

Then we have a smart buyer here.

"Be fearful when others are greedy and greedy when others are fearful" - Warren Buffett

Time to shear the sheep.  Cheesy


Bitcoin is a moneygram...a mirage - Warren Buffet

lol


Warren is great with making shitloads of money, but he's terrible with tech!  Cheesy

Only when the tide goes out do you discover who's been swimming naked. -Warren Buffett
TTM
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March 27, 2014, 05:25:43 PM
 #36

http://fiatleak.com/

Fake ! Chinese are buying more cheap BTC now

I'm curious how does this site work ? If i'm a Chinese citizen who is buying 10 bitcoin on BTC-e, how do they know ? There is no way exchanges leak my personal information to this fiatleak.com
Arghhh
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March 27, 2014, 05:32:06 PM
 #37

How generous of them!




... More hoard for me.
mr smith
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March 27, 2014, 05:47:10 PM
 #38

All the bad news from China has been factored in for a long time. I wish they would ban gold imports so i could buy a little on the cheap!!!!!!!!!

New Economy Movement
Philosophy of Solidarity and Egalitarianism
bananas
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March 27, 2014, 05:52:57 PM
 #39

Unfortunately, this is how things happen in China.  Everything is presented as rumor to act as a warning before official announcements are released.

First, I feel sorry for the Chinese Bitcoin enthusiasts and I'm sure they will find away around the government meddling.



I don't feel sorry 'cause they are just gamblers, most of Chinese bitcoin traffic comes from Macau.
vitarian
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March 27, 2014, 09:50:51 PM
 #40

But this is countered by the GOOD NEWS that the US government is accepting bitcoin as legitimate "property", meaning they WILL indeed allow bitcoin transactions. I would think that the IRS news would trump all the other negative press surrounding bitcoin. Now is the time to BUY BUY BUY!!!
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