China BANNED BITCOIN! This time for real!

[softron]

I see this as good news for bitcoin

[Sawadekub]

guys.. i already said.. btcchina and huobi ceo and staffs sure have friends in the goverment.. if bitcoin is ban or might make them go to jail if they use it.. they will get the news first.. not u nor me.. wake up! dont believe in corrupted reporters.. someone must have paid them fiat for them to write a stupid report LOL! and at the same time.. that someone might buy bitcoins in cheaper price =) who knows LOL!

[Tommo]

Did the Chinese government ban banks and third party financial institutions from associating with crypto-companies or did they ban the existence of cryptos in China?

No problems if the former because you can fund and withdraw with vouchers, big problems if the latter because the vouchers are then useless 

[Mitchell]

Bullshit: http://www.reddit.com/r/Bitcoin/comments/21h70d/china_bitcoin_exchanges_huobi_said_they_have/

I am going to post this, until everybody gets it.

[Honeypot]

BUUUURNNNN! BURRRRRNNNN!!!

[semaforo]

   This is actually brilliant- if you started a rumor causing price to drop, allowing you to buy cheap coins, you wouldn't know when to sell them to make your profit- whereas if you set a deadline on your rumor for it to be proven false, you will know exactly when to sell.

[DustyRah]

If the Chinese government doesn't like something you know two things:

1) Its good for the people in general
2) It jeopardizes their position of power.

This is why I believe in Bitcoin. If the PRBC hates something, I personally love it. My morals dictate that I have to.

Giggidy!

[Luno]

Bank of England to handle Chinese currency exchange!: http://www.bbc.com/news/business-26750990

BoE had an opinion last week on Bitcoin as a commodity and not a currency. They might have advised the Chinese central bank on how to deal with Bitcoin?

[Bit_Happy]

Bank of England to handle Chinese currency exchange!: http://www.bbc.com/news/business-26750990

BoE had an opinion last week on Bitcoin as a commodity and not a currency. They might have advised the Chinese central bank on how to deal with Bitcoin?

The memorandum of understanding, to be signed on Monday, sets out settlement and clearing arrangements for the renminbi, or yuan, in London.

The signing is expected to be followed by the appointment of a London clearing bank for yuan.

62% of yuan payments outside of China already take place in London.

[andyatcrux]

Bank of England to handle Chinese currency exchange!: http://www.bbc.com/news/business-26750990

BoE had an opinion last week on Bitcoin as a commodity and not a currency. They might have advised the Chinese central bank on how to deal with Bitcoin?

The memorandum of understanding, to be signed on Monday, sets out settlement and clearing arrangements for the renminbi, or yuan, in London.

The signing is expected to be followed by the appointment of a London clearing bank for yuan.

62% of yuan payments outside of China already take place in London.

It sure is starting to seem that people are heading for the exits and some fresh (big) money is sneaking in to descend on cheap BTC, all too happily. All news out there seems to be clearly pointing toward rapidly growing adoption, yet disinformation like "they banned bitcoin!" seems to flow as long as investors hold there finger on the panic button. I suppose this is a natural market reaction to the conflicting sentiments about what direction BTC should take. Now it is anyone's guess how long BTC can be shorted before missing out on what may be the last big buying opportunity.

[nuff]

So? What's the big deal? I do not see how it affects anything or anyone except perhaps you're Chinese. Does China dictate the price of Bitcoin? Or are you letting China determine the price/future of Bitcoin? Only if you have the crowd mentality will you be even bothered by this news.

[R2Pleasent]

So? What's the big deal? I do not see how it affects anything or anyone except perhaps you're Chinese. Does China dictate the price of Bitcoin? Or are you letting China determine the price/future of Bitcoin? Only if you have the crowd mentality will you be even bothered by this news.

Chinese exchanges often account for ~90% of total volume.  Chinese capital fueled the Bitcoin bubble of Nov/Dec 2013.  This cuts off a massive customer-base from crypto.  Bitcoin provides huge utility to people in China, who are subject to capital controls that most Americans would never even believe.  If China's government took the same policy as USA, Bitcoin could be $2-3k each right now.

[DubFX]

Hopefully this will not dive BTC price under 100$ 

[piramida]

I've been feeling despair. I see the price falling far before climbing...

I'm down by thousands and it is extremely difficult to watch the market in this current condition.

I've made a decision; I will not sell. If the price falls below $200 I will buy more to average down my cost. If I lose money after buying in at $200, I'll wait for $100 and buy again...

I don't know how much longer this fiat world economy can last so I don't keep fiat anymore...

Bitcoin is hurting bad right now. I wonder if this isn't just a scheme to grab market share...

This sucks.

Don't know where you started buying, but this is quite a normal retraction for bitcoin. If it falls to 200, that would be unusual. Anything above 300 is quite normal and expected. In fact, throughout my 3 years of bitcoin trading, the best times to buy were the times when everybody felt despair and "bitcoin is done" was the main theme of these forums. So I grab them with both hands now, this won't last long.

[knightcoin]

BTC-e Now Offers Trading in Chinese Yuan ...

http://www.coindesk.com/btc-e-now-offers-trading-chinese-yuan/

[nuff]

So? What's the big deal? I do not see how it affects anything or anyone except perhaps you're Chinese. Does China dictate the price of Bitcoin? Or are you letting China determine the price/future of Bitcoin? Only if you have the crowd mentality will you be even bothered by this news.

Chinese exchanges often account for ~90% of total volume.  Chinese capital fueled the Bitcoin bubble of Nov/Dec 2013.  This cuts off a massive customer-base from crypto.  Bitcoin provides huge utility to people in China, who are subject to capital controls that most Americans would never even believe.  If China's government took the same policy as USA, Bitcoin could be $2-3k each right now.

Thus I asked, are we letting China, or more fundamentally, one country to dictate the value of Bitcoin? Should we be thankful to the Chinese for driving the price of Bitcoin up?  Remember, if they can drive the price up, they can drive the prices down, and that means having control. Isn't Bitcoin supposed to be decentralized, free of any authoritative control? apparently it seems the Chinese is in control of Bitcoin

[zhangweiwu]

Thus I asked, are we letting China, or more fundamentally, one country to dictate the value of Bitcoin? Should we be thankful to the Chinese for driving the price of Bitcoin up?  Remember, if they can drive the price up, they can drive the prices down, and that means having control. Isn't Bitcoin supposed to be decentralized, free of any authoritative control? apparently it seems the Chinese is in control of Bitcoin

This type of selfish I have seen enough in China, and it makes me feel like home seeing it on an Enlish forum.

Chinese people use Bitcoin because it gives them something they otherwise should beg from the government. You praise bitcoin for beinng decentralized, so Chinese government, a centralized power, should be out of the picture. Why should not Chinese people enjoy the same advantage? Why when you are trying to free yourself from your big powers, we should be slaves to ours? And when we (Chinese) fail at our foe, being victims of a centrlized power, you just ask us out of the picture together? WHY YOU THINK CHINESE ARE THE ENEMY of decentralization, when WE ARE THE VICTIM of centralization?

Stop externalize China by PERSONALIZING China, as if we are a single big guy confronting you. It's a big country with lots of people, and there is a war going on here too.

[zebroid]

Thus I asked, are we letting China, or more fundamentally, one country to dictate the value of Bitcoin? Should we be thankful to the Chinese for driving the price of Bitcoin up?  Remember, if they can drive the price up, they can drive the prices down, and that means having control. Isn't Bitcoin supposed to be decentralized, free of any authoritative control? apparently it seems the Chinese is in control of Bitcoin

This type of selfish I have seen enough in China, and it makes me feel like home seeing it on an Enlish forum.

Chinese people use Bitcoin because it gives them something they otherwise should beg from the government. You praise bitcoin for beinng decentralized, so Chinese government, a centralized power, should be out of the picture. Why should not Chinese people enjoy the same advantage? Why when you are trying to free yourself from your big powers, we should be slaves to ours? And when we (Chinese) fail at our foe, being victims of a centrlized power, you just ask us out of the picture together? WHY YOU THINK CHINESE ARE THE ENEMY of decentralization, when WE ARE THE VICTIM of centralization?

Stop externalize China by PERSONALIZING China, as if we are a single big guy confronting you. It's a big country with lots of people, and there is a war going on here too.

+1

I feel sorry for people in countries where governments have the outright power to ban or unban something like bitcoin or any crypto
currency. If this should happen in China then that would also affect the hardware side ASIC & GPU manufacturing.
How many PC boards, chips etc. do you think China produces for the crypto mining industry?
They are major contributors to the infrastructure growth of crypto currencies.

[fonzie]

Prepare for the worst!

[Torque]

Thus I asked, are we letting China, or more fundamentally, one country to dictate the value of Bitcoin? Should we be thankful to the Chinese for driving the price of Bitcoin up?  Remember, if they can drive the price up, they can drive the prices down, and that means having control. Isn't Bitcoin supposed to be decentralized, free of any authoritative control? apparently it seems the Chinese is in control of Bitcoin

This type of selfish I have seen enough in China, and it makes me feel like home seeing it on an Enlish forum.

Chinese people use Bitcoin because it gives them something they otherwise should beg from the government. You praise bitcoin for beinng decentralized, so Chinese government, a centralized power, should be out of the picture. Why should not Chinese people enjoy the same advantage? Why when you are trying to free yourself from your big powers, we should be slaves to ours? And when we (Chinese) fail at our foe, being victims of a centrlized power, you just ask us out of the picture together? WHY YOU THINK CHINESE ARE THE ENEMY of decentralization, when WE ARE THE VICTIM of centralization?

Stop externalize China by PERSONALIZING China, as if we are a single big guy confronting you. It's a big country with lots of people, and there is a war going on here too.

-1

While I understand your frustration, please remember that it was your people that caused the crash back on Dec 5th out of FEAR of your government's actions.  And every time some silly rumor comes out about China halting Yuan deposits into Chinese bitcoin exchanges, again your people panic sell out of FEAR of your government's actions.  Yet again, time after time after time.  And because they know it works, your government will keep pulling that lever over and over until your people decide to stop being sheep.

So if native Chinese want the respect of those bitcoiners in other countries, then they need to earn it by:

1.  Stop panic selling every time your government or the PBOC sneezes or scratches its backside.
2.  Stop panic selling on false rumors of a ban, or even a true rumor of a ban.  China, or any country, cannot "ban" bitcoin.
3.  Stop treating bitcoin as if it is just a "get rich quick game."
4.  Stand strong, be proud holders of bitcoin, put up a fight.
5.  Demand that Chinese merchants be allowed to transact in bitcoin.
6.  If all else fails, then foster a Chinese grey market for bitcoin (or black market if need be).
7.  Did I mention HODL!?!?

Bitcoin is serious business, so only serious countries need apply.