BITMAINTECH - POTENTIAL SHUTDOWN (PBOC)

[AlextheBitcoiner]

It is very possible that we can see a Bitmaintech shutdown within the coming week(s)

If you're up-to-date on everything Bitcoin you know that PBOC (Peoples Bank of China) has recently ordered banks and payment companies to close the trading accounts of more than 10 exchanges. This is predicted to take place on April 15th 2014. Could this effect Bitmaintech? Very possibly.

If that PBOC announcement doesn't directly affect Bitmaintech, this next PBOC announcement surely will. The People’s Bank of China (PBOC) has placed a temporary ban on all payments made by scanning quick-response (QR) codes with mobile devices. Since you can use QR codes to make payments for Bitmaintech products, is Bitmaintech breaking the law?

Well, technically yes, if your buying Bitmain products within China VIA QR Codes.
If Bitmain is breaking the law, we may very well see a Bitmain shutdown.

I'm predicting that Bitmain will revoke QR Codes from their payment page in order to remain a legal status.
What do you guys think? Could this be the end of Bitmain?

[FalconFly]

For as long as they accept BTC as payment, none of the laws should even touch them.

They can still convert their BTC to cash in other places to pay their suppliers. If their suppliers also take BTC (which AFAIK is definitely the case for ASIC chips worldwide), then most of these problems should be a non-issue to Bitmaintech. At least at this point.

Should China create a legal ban on financial transactions associated or based on Bitcoin, then it's time ponder some thoughts.

The way I see it, China has far larger and other classic financial issues (commercial debt defaults) at hand, anything Bitcoin should be nothing more than a sidestory for them right now.

[seriouscoin]

Another idiotic thread 

What is it that bitcoin has attracted so many dumb asses recently?

PROC has no problem with capital influx. Bitmain can use exchanges outside of china and wiring fund into its bank in China. Infact i bet thats what they're doing given the yuan has been down lately.

[goggles1200]

This might hold some water as bitmaintech has sold out of the Antminer S1s and haven't responded to any emails I've sent in the last week. They are usually pretty good about getting back to me. I'm looking for another seller with a good rep. to continue to buy Antminer S1s from if bitmaintech closes it's doors.

[railzand]

lol