China BANNED BITCOIN! This time for real!

[esse83]

Watching fiatleak and China is buying BTC like crazy...

I don't get it.

To the moon!

[YipYip]

No one said taking the bankers down would be easy folks.

+1

+2

It going to be a long fight!! Before we succeed. That is why I look at BTC as a long term investment not short or medium term.

+3

It isn't just an investment; it's a world changing frontier, and we're all on the rollercoaster together.
We'll go up, and we'll go down, but the destination is going to be the promised land.
Not just for us, but for everyone. I'm glad to be on the coaster with our forum members.

+4

HOLD!

HODLING !

+1 HODL

[kooke]

This news is definitely not good short-term. The Chinese were throwing lots of money at cryptos, especially when the altcoin pump-and-dumps started.

[cryptrol]

This news is definitely not good short-term. The Chinese were throwing lots of money at cryptos, especially when the altcoin pump-and-dumps started.

The volatility lately was killing bitcoin, and China was a major player, if China is out, then this is definitely good news short term.
After all, it's China, ffs, you can't expect China to behave like the rest of the world.

[benjamindees]

"Our website is currently operating normally, did not receive the relevant information ." Bitcoin trading site OKCoin founder Xu star said

You guys can't even be bothered to copy and paste this into Google Translate before jumping to conclusions?

[GigaCoin]

This news is definitely not good short-term. The Chinese were throwing lots of money at cryptos, especially when the altcoin pump-and-dumps started.

The volatility lately was killing bitcoin, and China was a major player, if China is out, then this is definitely good news short term.
After all, it's China, ffs, you can't expect China to behave like the rest of the world.

Volatility will continue, China or not

[zhangweiwu]

The ban was too detailed to be rumor. There is a possiblity that the execution was halted due to meida exposure, but I won't buy the idea that it being FUD. Elaborate rumors doesn't work in China, rumor should be in a decicive, clear tone and extremely short.

[enuma]

Watching fiatleak and China is buying BTC like crazy...

I don't get it.

Lol fiat leak dont show buys, it consider sells also a buy... since u are always selling to someone and to then its a buy...

So dont consider all volume in fiatleak a active buy.

[MarioSPGroup]

First they ignore you,
then they laugh at you,
then they fight you,
then you win.

+1
Well said!
It seems bitcoin is a real competition to the fiat monetary system, not a toy.

[wobber]

This is timing nicely with the new NSA espionage on the Chinese Snowden released. I assume at this point that the Chinese believe (wrongfully or not) that NSA is behind bitcoin.

[Dexter770221]

But seriously, how to ban bitcoin? I can see only one way. Cut internet connection, or destroy internet itself. Is it possible this days?
What I can see is banned bank accounts, not bitcoin. I think it's a big difference.

[podyx]

Is this confirmed??

[torry28]

But seriously, how to ban bitcoin? I can see only one way. Cut internet connection, or destroy internet itself. Is it possible this days?
What I can see is banned bank accounts, not bitcoin. I think it's a big difference.

Yes, just no fiat exchanges, speculators have to get out.

If government wants, they can outlaw cryptocurrencies and limit useability this way only

[zhangweiwu]

But seriously, how to ban bitcoin? I can see only one way. Cut internet connection, or destroy internet itself. Is it possible this days?
What I can see is banned bank accounts, not bitcoin. I think it's a big difference.

You don't have to cut down the whole internet. Currently around half of the access to non-Chinese websites times out or get reset, people seems to be fine with it. Xin-Jiang has been cut away from the Internet for many months and people are fine with it. China is a country of huge population, we are fine with only our (controlled) information there. Facebook wasn't usable in China, very few Chinese complain about that in Chinese (Complaints in English doesn't count, insignificant).

[wobber]

Time for bitcoin to answer the next question. "Can it be banned"?

Let's see what it's made of! 

By design, no, it cannot be banned. Right now? Yes. Imposing banking restriction would destroy 70% of the community, because 70% fuckers agreed to used CENTRALIZED exchanged.

This might be good actually. I'm ready for $10 bitcoin and no speculation whatsoever, but a nice payment method for VPNs and other services.

[Mitchell]

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

[porcupine87]

No one said taking the bankers down would be easy folks.

At the moment I think goverments are by far the biggest threat to Bitcoin...

[chessnut]

No one said taking the bankers down would be easy folks.

At the moment I think goverments are by far the biggest threat to Bitcoin...

banks, governments....... whats the difference?

[SlipperySlope]

This is dangerous game.

If true and the US embraces bitcoin, then...

China could have taken the lead.

Just think about it politically.

Not dangerous, I think. But rather short sighted. VC investment is already several times higher in the USA than in China, despite the fact that most trading, and more importantly - trading innovation, e.g. no-fee trading - is happening in China.

Unlike other countries prominent in the Bitcoin economy, China has imposed foreign exchange controls in order to prevent capital flight, which is a real danger to the developing Chinese economy.

And its not just the US embracing bitcoin, its the rest of world vs China in this regard.

[Kenshin]

I think it is a good thing that China is out of the picture. Because every time there are rumors about China's view in bitcoin. The price of BTC moves aggressively up or down. Without China's involvement, btc will have a better future.