Ok, let China ban bitcoin, we do NOT need them.

[TTM]

It's impossible for any country to ban bitcoin unless they take the entire grid offline.

Main purpose of Chinese government is not to ban Bitcoin completely, all they want is to stop Bitcoin trading from touching banking system. Big amount of capital are being sneaked out of China everyday via cryptocurrency, that's the reason for this ban.

your wrong
citizens of china can set up bitcoin exchanges using that citizen/individuals bank account & balance, they just need a Telecommunications Regulations licence. the same as any other country.
the news is that BANKS!!! cannot buy bitcoin directly for BANKS investment portfolio.. this has nothing to do with restricting individual customers from doing what they want with their account balances.

again ill make it clear
only bank board members cannot buy bitcoins for banking investment portfolios.. citizens are still free to invest how they like using their own bank accounts

i still wonder where people get this fud from and then do not research the truth or simply ignore the truth.. damn i hate sheeple

Do you even read Caixin article about this ban ?
http://english.caixin.com/2014-03-27/100657518.html

Basically all bank accounts of exchanges will be closed, which mean traders cannot deposit fiat into exchanges. They must find another way such as cash deposit at exchange's office, this is very inconvenient method and trading volume will be reduced drastically.

The news is still a rumor, but currently there is no official information from Chinese banks to deny or confirm this rumor. The article was published on a reputable news service about finance in China, and it is now cited by Bloomberg, so the FUD is likely to be true.

It seem you are the only one here who haven't not researched enough.

[spazzdla]

China is buying... I'd even wager so is Russia.

HOLD, HOLD STRONG

[Ghepetto]

It's impossible for any country to ban bitcoin unless they take the entire grid offline.

Main purpose of Chinese government is not to ban Bitcoin completely, all they want is to stop Bitcoin trading from touching banking system. Big amount of capital are being sneaked out of China everyday via cryptocurrency, that's the reason for this ban.

your wrong
citizens of china can set up bitcoin exchanges using that citizen/individuals bank account & balance, they just need a Telecommunications Regulations licence. the same as any other country.
the news is that BANKS!!! cannot buy bitcoin directly for BANKS investment portfolio.. this has nothing to do with restricting individual customers from doing what they want with their account balances.

again ill make it clear
only bank board members cannot buy bitcoins for banking investment portfolios.. citizens are still free to invest how they like using their own bank accounts

i still wonder where people get this fud from and then do not research the truth or simply ignore the truth.. damn i hate sheeple

+infinity

[Beliathon]

Actually many Bitcoin investors will not happy if China coin market being shutdown completely. Bitcoin made it to $1000 on December because Chinese traders was in buying spree. Their huge demand pushed the price to the moon. Without trading volume from China, the price would be 200-300 for now, not 500.

We're headed there now (200-300 range), and everyone will just have to accept it. For a few weeks or months, until it shoots back up to 1,000 by the creation of some new very user-friendly app  

[leopard2]

Phuck china .. their volume is 60%, true. But what that means is that 1200 minus 60%, leaves us with 400-500$ even if the ban was 100% effective

which it will NOT be ever

And there is tons of massive good news that are being ignored. UBS, Isle of Man, BTC Superfund and many more. This is an orchestrated bear market! Anything below $400 is a buying opportunity IMHO

http://www.coindesk.com/isle-man-welcomes-digital-currency-exchanges-license-required/

http://www.coindesk.com/swiss-bank-ubs-banks-absorb-benefits-bitcoin/

http://www.coindesk.com/new-active-trading-bitcoin-fund-seeks-uk-investors/

The large scale investors are actually good because they will provide liquidity and market depth.

[counter]

Honestly I'm very surprised China has come this far along with bitoin and the talk of them banning it is far less surprising to me.  They have people who won't follow the rules anyway so it's is just gonna be a behind the scenes type thing which it is in most places.

[coinyear]

Chinese government should not ban BTC in the shadows, but very possible development in other aspects of block BTC.

Your analysis makes sense.

[royal-casino]

Do you even read Caixin article about this ban ?
http://english.caixin.com/2014-03-27/100657518.html

"The only one way out for bitcoin websites is moving their servers abroad and using the service of foreign banks and payment companies,"

should not be too hard

[Beliathon]

I think it's only a matter of time untill china is back. And I believe we do need china because think of how many people are in china . That's a lot of bitcoin usage and this caused price to go up so high. If China comes back our coins are going to double tripple or even 10x what they are worth now

What have you to understand is that nation-state governments are going to be able to have major impacts on the fiat exchange price of cryptocurrency...

...right up until the day the first next major national economy implodes (fiat crash), and then all bets are off. Cryptocurrency's exchange value will skyrocket to the moon and never return back to Earth.

[Fior Sirtheoir]

The Chinese exchanges can just move to Vanuatu, it is a favorite vacation spot from what I understand anyway

[mycoin25]

Actually many Bitcoin investors will not happy if China coin market being shutdown completely. Bitcoin made it to $1000 on December because Chinese traders was in buying spree. Their huge demand pushed the price to the moon. Without trading volume from China, the price would be 200-300 for now, not 500.

Nothing against China, but it's probably because of their actions that Bitcoin price is as volatile as it is.

I'd rather have it more steady so we can gain more traction with businesses,  investors, and the mainstream instead of speculative pump and dumpers.

[Bit_Happy]

Phuck china .. their volume is 60%, true. But what that means is that 1200 minus 60%, leaves us with 400-500$ even if the ban was 100% effective

which it will NOT be ever

And there is tons of massive good news that are being ignored. UBS, Isle of Man, BTC Superfund and many more. This is an orchestrated bear market! Anything below $400 is a buying opportunity IMHO

http://www.coindesk.com/isle-man-welcomes-digital-currency-exchanges-license-required/

http://www.coindesk.com/swiss-bank-ubs-banks-absorb-benefits-bitcoin/

http://www.coindesk.com/new-active-trading-bitcoin-fund-seeks-uk-investors/

The large scale investors are actually good because they will provide liquidity and market depth.

tons of massive good news
The market will start responding soon enough. 

[zolace]

Honestly I'm very surprised China has come this far along with bitoin and the talk of them banning it is far less surprising to me.  They have people who won't follow the rules anyway so it's is just gonna be a behind the scenes type thing which it is in most places.

dude get rid of that red annoying text, it hurts my eyes

[zolace]

Anyway yes your right we dont need china for bitcoin to do well.   Before ebay Did well China was not involed in trading there. 

They will follow when the greed factor shows up.

[lemfuture]

we need everyone

[zhaojinqqq]

Forget the banning, Chinese will get used to it and back soon...

[timecoin]

Basically all bank accounts of exchanges will be closed, which mean traders cannot deposit fiat into exchanges. They must find another way such as cash deposit at exchange's office, this is very inconvenient method and trading volume will be reduced drastically.

The news is still a rumor, but currently there is no official information from Chinese banks to deny or confirm this rumor. The article was published on a reputable news service about finance in China, and it is now cited by Bloomberg, so the FUD is likely to be true.

It seem you are the only one here who haven't not researched enough.

[Sawadekub]

It's impossible for any country to ban bitcoin unless they take the entire grid offline.

Main purpose of Chinese government is not to ban Bitcoin completely, all they want is to stop Bitcoin trading from touching banking system. Big amount of capital are being sneaked out of China everyday via cryptocurrency, that's the reason for this ban.

your wrong
citizens of china can set up bitcoin exchanges using that citizen/individuals bank account & balance, they just need a Telecommunications Regulations licence. the same as any other country.
the news is that BANKS!!! cannot buy bitcoin directly for BANKS investment portfolio.. this has nothing to do with restricting individual customers from doing what they want with their account balances.

again ill make it clear
only bank board members cannot buy bitcoins for banking investment portfolios.. citizens are still free to invest how they like using their own bank accounts

i still wonder where people get this fud from and then do not research the truth or simply ignore the truth.. damn i hate sheeple

+1 i agree with u dude.. who the fk.. thinks that china can ban bitcoin? LOL?!?!? u think they know your private keys by digging into your mind for it?

[BittBurger]

China has already "banned" bitcoin 3 times.

Why would actually banning it matter?   Bitcoin has already shown its resiliency in the face of such news.

-B-

[DooMAD]

It's impossible for any country to ban bitcoin unless they take the entire grid offline.

Main purpose of Chinese government is not to ban Bitcoin completely, all they want is to stop Bitcoin trading from touching banking system. Big amount of capital are being sneaked out of China everyday via cryptocurrency, that's the reason for this ban.

your wrong
citizens of china can set up bitcoin exchanges using that citizen/individuals bank account & balance, they just need a Telecommunications Regulations licence. the same as any other country.
the news is that BANKS!!! cannot buy bitcoin directly for BANKS investment portfolio.. this has nothing to do with restricting individual customers from doing what they want with their account balances.

again ill make it clear
only bank board members cannot buy bitcoins for banking investment portfolios.. citizens are still free to invest how they like using their own bank accounts

i still wonder where people get this fud from and then do not research the truth or simply ignore the truth.. damn i hate sheeple

+1 i agree with u dude.. who the fk.. thinks that china can ban bitcoin? LOL?!?!? u think they know your private keys by digging into your mind for it?

I don't get why people waste their time posting FUD on the forums.  The average Bitcoin user will probably never read it and those of us who do read the forums already know how to recognise FUD from a mile away.