Fill you in on Chinese Secret - Moved $20M out of China

[WildWes]

Names are not important, what I can tell you is that I am only one person and a nobody per say.  I have helped educate and facilitate moving $20 million out of china via the Bitcoin protocol.

Do you really think China is going to allow this to happen when per capita controls were $40,000 per year.  hahahah.  My buy orders have been set for $530 - $450 for months.  China will soon flip the switch, they will seize Huobi, the Lee brothers will vanish and all of those coins will be owned by teh Chinese Government effectively removing supply.

I expect the price to continue forward with the Chinese Government as a 25% partner in BTC hehe

Come on guys this is a communist regime and Coindesk parades OkCoin and Huobi as if they were credible reliable institutions.  Sad, fault is on coindesk as well for being so naive.  But in their defense I doubt they have much understanding of geo-politics.

BTC must operate in free societies, it can operate in the shadows in others with out doubt but not in the public eye hehehe.  You are about to witness the flip of the switch real soon.

[cbeast]

Lee brothers will vanish and all of those coins will be owned by teh Chinese Government effectively removing supply.

You don't understand how Bitcoin works. There are always countermeasures against seizure.

[msc_de]

 

[WildWes]

Sorry my friend I KNOW EXACTLY how China works hehe and I have been dealing with helping people get their money out of China for a long time.  Why do you think BTC is popular there!?!?!?!  

It has been funny for me to watch.  It is simply a matter of time when they figure out billions are being shipped out via BTC.  The problem is liquidity isn't enough in the outside World to manage the sales to prospective buyers....that is why the price of BTC increased so much.  It was China but they could not find enough buyers in the outside World to match their demand.

Sorry bud but the Lee brothers will simply vanish and I will laugh my head off again.

I do not think BTC will end.  I think BTC price will sky rocket later this year as 25% of supply is controlled by the Chinese authorities who seize $2B worth of coins.  That means opportunity to me.  All good with me.

[BTCisthefuture]

I would certainly assume that bitcoin is used quite a bit in China as a means for citizens (or government officials)  to funnel savings outside of China.

And yes if that becomes a big thing I would expect the government in China to try to clamp down on it.

Time will tell..


If the government clamped down harder on Bitcoin it could kill its potential of ever going mainstream in China I would think.  But it certainly wouldn't stop peoples desire to move their money out of China,  that's something a lot of people want, try, and do in China if they have money.  So bitcoin would just move to the black market and flourish there,  with a lot more crimes/theft/fraud  as a result.

[tvbcof]

Yeah, if you are competent enough to use those countermeasures or bold enough to laugh in the face of the authorities.
...

We might be coming up on good time to get a great deal on a new set of kidneys!

[JPage]

We might be coming up on good time to get a great deal on a new set of kidneys!

mdr

[meanig]

Names are not important, what I can tell you is that I am only one person and a nobody per say.  I have helped educate and facilitate moving $20 million out of china via the Bitcoin protocol.

$20 million didn't leave China. $20 million worth of bitcoins left China. If the Chinese government does eventually come down hard on the exchanges bitcoins will still continue to enter and leave and China, the only difference being how people acquire them i.e. sell stuff, trade in person etc

[bananas]

I never considered China a market for bitcoin, i consider a bitcoin traded under any leftist totalitarian nation of 0 value.

[jbreher]

Two things I find 'interesting' in OP:

- OP 'knows' that 'the Lee brothers will vanish'. OP - what do you mean by vanish?

- OP 'knows' upcoming plans of the Chinese government. OP - how do you come by this knowledge?

[amspir]

Names are not important, what I can tell you is that I am only one person and a nobody per say.  I have helped educate and facilitate moving $20 million out of china via the Bitcoin protocol.

I read the rumor/announcement, and it essentially says that the Chinese government will forbid trading of BTC using Chinese banks, however trading is not forbidden using foreign banks and exchanges.   

How hard is it for the average Chinese citizen to transfer Yaun to a foreign bank account?

[TTM]

Finance system of China has strict rules. I heard that a foreigner is permitted to transfer only $500 out of the country per day, for Chinese it is 50k per year. That's why some rich Chinese find Bitcoin as perfect way to move their money out of the country. If the rumour about China forbid its bank to work with exchange turn to be true, we'll have no more buy order on China, Bitcoin price will be crashing hard.

[bananas]

Names are not important, what I can tell you is that I am only one person and a nobody per say.  I have helped educate and facilitate moving $20 million out of china via the Bitcoin protocol.

I read the rumor/announcement, and it essentially says that the Chinese government will forbid trading of BTC using Chinese banks, however trading is not forbidden using foreign banks and exchanges.  

How hard is it for the average Chinese citizen to transfer Yaun to a foreign bank account?

If they don't pay their taxes correctly it is impossible.
If they don't speak english it is unlikely.

And most important, they have barriers over sending money oveseas. They are not free to do it.

[CurbsideProphet]

The Chinese control all forms of information that flows in/out of the country.  What makes you believe that they don't already know that Bitcoin is being used to funnel money out?  They have to know.  The question is, why haven't they acted on it already?  

[amspir]

Finance system of China has strict rules. I heard that a foreigner is permitted to transfer only $500 out of the country per day, for Chinese it is 50k per year. That's why some rich Chinese find Bitcoin as perfect way to move their money out of the country. If the rumour about China forbid its bank to work with exchange turn to be true, we'll have no more buy order on China, Bitcoin price will be crashing hard.

So a government clampdown makes sense, if they are trying to prevent this loophole.   Any hope of the Chinese government easing currency restrictions anytime soon?   

Also, who holds all the USD in the country due to the US/China trade imbalance?

[pening]

Two things I find 'interesting' in OP:

- OP 'knows' that 'the Lee brothers will vanish'. OP - what do you mean by vanish?

- OP 'knows' upcoming plans of the Chinese government. OP - how do you come by this knowledge?

He doesn't - its his prediction.  It not worth much as Chinese have been using commodities to do the same and other shadow banking for years and the authorities do nothing about it. 

[The_Gloomfrost]

I don't know if I can trust anyone who writes 'hehe' in their predictions.

[BitCoinDream]

OP is from either of the following countries...

1. India
2. Pakistan
3. Bangladesh
4. Srilanka
5. Nepal
6. Bhutan


These country people mainly use the term 'hehe' instead of 'LoLz'

[rgm108]

OP. I hope for your sake you are not openly advertising a money laundering service.

[bananas]

OP is from either of the following countries...

1. India
2. Pakistan
3. Bangladesh
4. Srilanka
5. Nepal
6. Bhutan


These country people mainly use the term 'hehe' instead of 'LoLz'

hehe and haha and their translations are  the usual worldwide, except in uk and usa