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impulse (OP)
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April 01, 2014, 09:04:49 PM |
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http://www.theaustralian.com.au/business/latest/china-clamps-down-on-bitcoin/story-e6frg90f-1226871648275One of the people familiar with the latest directive said that the central bank does not intend to ban bitcoin trading in China, and said the move is to "enforce what was already said in the December document." That document had said bitcoin is not a currency with "real meaning" and does not have the same legal status as a currency, but that the public is free to buy and sell bitcoin online provided that they accept the risk.
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fonzie
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April 01, 2014, 09:07:14 PM |
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PLZ stop trollin.
People are actually losin money due to quotes presented that are taken out of the context.
Think about it.
Thanks
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"To know death, Otto, you have to fuck life in the gallbladder" www.hsbc.com - The world´s local bank "These FUDsters are insane egomaniacs that just want cheap BTC" - oblivi |
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bananaControl
Sr. Member
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Activity: 322
Merit: 250
Decentralize All The Things!
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April 01, 2014, 09:08:51 PM |
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Haha, there seems to be bit of a disagreement of what's really going on in China at the moment. This forum really needs more Chinese people  |
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impulse (OP)
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April 01, 2014, 09:15:43 PM |
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bitluryz
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April 01, 2014, 09:19:40 PM |
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CHINA BANS fonzie!
"Cherish Bitcoin, walk away from fonzie" Zhang Niannian - PBOC Official.
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Bit_Happy
Legendary
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Activity: 2114
Merit: 1040
A Great Time to Start Something!
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April 01, 2014, 10:16:37 PM |
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One of the people familiar with the latest directive said that the central bank does not intend to ban bitcoin trading in China
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cbeast
Donator
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Activity: 1736
Merit: 1014
Let's talk governance, lipstick, and pigs.
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April 01, 2014, 10:38:54 PM |
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CHINA BANS fonzie!
"Cherish Bitcoin, walk away from fonzie" Zhang Niannian - PBOC Official.
Now the trolls are jumping the shark. |
Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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smoothie
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Activity: 2492
Merit: 1474
LEALANA Bitcoin Grim Reaper
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April 01, 2014, 10:52:52 PM |
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Who cares? Not me. Bitcoin > China <<======= nuff said.  |
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y3804
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April 02, 2014, 03:35:33 AM |
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One of the people familiar with the latest directive said that the central bank does not intend to ban bitcoin trading in China
Post source or more info please. |
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jamesc760
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April 02, 2014, 03:42:12 AM |
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I think it's time WE banned China from bitcoin.
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Carra23
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Need a campaign manager? PM me
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April 02, 2014, 03:49:59 AM |
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Its banned.. No, its not.. Hang on, it is...
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KimNam
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April 02, 2014, 03:51:14 AM |
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I think it's time WE banned China from bitcoin.
how can we do that  they have their own market and exchanges and simply affect our prices  |
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romang
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April 02, 2014, 03:54:53 AM |
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The sky is falling.
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right wing authoritarian
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April 02, 2014, 04:17:51 AM |
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I am not Chinese but I study finance with many young Chinese and they mention Bitcoin.
Things to note
In China everyone is looking for alternative assets of which Bitcoin in one.
In China there is a massive shadow banking sector, Chinese are used to working around regulation.
It is common in China for central authorities to move into the private sector for the advantage of connected individuals. China won't ban Bitcoin but may only allow certain people to profit from any trade.
There is significant arbitrage between Bitcoin in China and other countries (there is usually no arbitrage opportunity between the RMB price and the AUD price for instance once transaction cost is taken into account). This indicates that there is no effective ban at the moment because any ban would change the price such that there seemed to be an arbitrage opportunity (which would not be real because of the cost of circumventing the ban).
Do I know the exact situation in China? No. Does it seem to be ok at the moment? Yes.
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Bit_Happy
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A Great Time to Start Something!
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April 02, 2014, 04:24:45 AM |
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One of the people familiar with the latest directive said that the central bank does not intend to ban bitcoin trading in China
Post source or more info please. It's in the OP of this thread. |
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BitOnyx
Member
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Cryptocurrencies Exchange
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April 02, 2014, 11:02:11 AM |
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But in all articles for awhile now people point out that report about ban of bitcoin was false and that it was more just another regulation of bitcoin then actual ban.
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Tommo
Newbie
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April 02, 2014, 01:50:09 PM |
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But in all articles for awhile now people point out that report about ban of bitcoin was false and that it was more just another regulation of bitcoin then actual ban.
Like I said in the other thread: Not really, I think China just doesn't want their banks anywhere near these crypto exchanges because if the exchanges go rogue like Mt. Gox, there's just too much drama and paperwork. Until the crypto exchanges have demonstrated sufficient maturity, I doubt any bank anywhere would want to work with them. http://www.law360.com/classaction/articles/522182/japanese-bank-denies-aiding-alleged-mt-gox-fraudThe Chinese are free to trade cryptos as they see fit, however, they will be limited by the I think US$50000 yearly limit their government allows them to remit to overseas exchanges/banks. If they have more than US$50000 per year they want to remit, I'm sure they've already got mechanisms in place to do so. |
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