F*ck China! :-) (curren situation...?

[kwukduck]

Maybe China will ban bitcoin again a few more times, but the only ones panicking about that are us and eu people. China is buying up well over 95% of all the coins being dumped.

[S4VV4S]

Bitcoin ban my ass: http://www.coindesk.com/btc-china-dismisses-pboc-fears-open-letter/

I told you there is NO COUNTRY that can successfully ban Bitcoin.....

[bryant.coleman]

Maybe China will ban bitcoin again a few more times, but the only ones panicking about that are us and eu people. China is buying up well over 95% of all the coins being dumped.

I don't think there is a any spike in BTC China volume.

[Beliathon]

what do you think, i sold half of my BTC and put buy back orders at lower values.

It's not wise to sell now. Buy buy buy!!!!!!

I can't tell you for certain whether this person is correct, but I CAN tell you that I just bought 3 more BTC at ~450...

Take from that what you will.

[bitcerto]

Doesn't matter who bans what. People who wish to use Bitcoin will find a way to connect with others. I just returned from Thailand (allegedly banned) and I had no problems using Local Bitcoins to buy and sell.

[Beliathon]

Bitcoin ban my ass: http://www.coindesk.com/btc-china-dismisses-pboc-fears-open-letter/

I told you there is NO COUNTRY that can successfully ban Bitcoin.....

That's absolutely correct. Bitcoin empowers individuals. Much like with file sharing via torrents, it is up to each individual to decide for themselves.

Bitcion is sovereign above and beyond any single nation-state. Cryptocurrency is now the de facto Earth money for the 21st century.

[RockHound]

Bitcoin ban my ass: http://www.coindesk.com/btc-china-dismisses-pboc-fears-open-letter/

I told you there is NO COUNTRY that can successfully ban Bitcoin.....

I just read the article - Think some folks at CoinDesk want to inflate/stabilize btc price index over the weekend : )

The headline should read "btc china acknowledges pboc fears in open letter"

Bobby Lee is just waiting for official legislation? That's how it reads to me, what do you guys think?

[S4VV4S]

Bitcoin ban my ass: http://www.coindesk.com/btc-china-dismisses-pboc-fears-open-letter/

I told you there is NO COUNTRY that can successfully ban Bitcoin.....

I just read the article - Think some folks at CoinDesk want to inflate/stabilize btc price index over the weekend : )

The headline should read "btc china acknowledges pboc fears in open letter"

Bobby Lee is just waiting for official legislation? That's how it reads to me, what do you guys think?

Once again I repeat my self.
This time I will use Lee's words:

A P2P system would be next to impossible to dismantle, forcing it underground would simply make the risks much greater.

[RockHound]

Bitcoin ban my ass: http://www.coindesk.com/btc-china-dismisses-pboc-fears-open-letter/

I told you there is NO COUNTRY that can successfully ban Bitcoin.....

I just read the article - Think some folks at CoinDesk want to inflate/stabilize btc price index over the weekend : )

The headline should read "btc china acknowledges pboc fears in open letter"

Bobby Lee is just waiting for official legislation? That's how it reads to me, what do you guys think?

Once again I repeat my self.
This time I will use Lee's words:

A P2P system would be next to impossible to dismantle, forcing it underground would simply make the risks much greater.

BTC protocol is robust, I agree. China cannot ban BTC - that would be ridiculous

My point is that Chinese bitcoiners will lose the ability to rapidly fund their respective exchange(s) via their own bank account. This is currently a huge strategic advantage over European community.

[btcpay86]

Well, You must clean your mouth!

I'm sure that China do not ban Bitcoin.

you lost bitcoins just because you are not believe Bitcoin deeply.

[atp1916]

China has not banned Bitcoin.  They have not banned a single exchange.

They simply decoupled their fiat market from the virtual currency market.

[mangoyin]

so China helps you to buy BTC at low values

[Beliathon]

It's just really, really, really hard to buy bitcoins with Yaun and/or cash them out into mainland yaun.

But wouldn't you be able to get around that by simply going Yuan -> dollars (or any currency) -> Bitcoin? I don't get it.

[bryant.coleman]

so China helps you to buy BTC at low values

Not China. The Chinese didn't did anything. It was the work of some short-sellers.

[atp1916]

It's just really, really, really hard to buy bitcoins with Yaun and/or cash them out into mainland yaun.

But wouldn't you be able to get around that by simply going Yuan -> dollars (or any currency) -> Bitcoin? I don't get it.

China has strict export / import capital controls on any and all currency instruments interfacing with the yaun.  

On top of that, you can only export so much fiat in or out, regardless of the type.

You basically have to now figure out an extremely creative way (i.e. become a criminal) to either buy bitcoin with mainland yaun, or sell out into mainland yaun. 

That being said, there is so much corruption at the higher levels of "government" in China that it is likely they may still have a smallish, but visible, impact on the price of a bitcoin.

[btcpay86]

China has not banned Bitcoin.  They have not banned a single exchange.
They simply decoupled their fiat market from the virtual currency market.

yes

[right wing authoritarian]

It's just really, really, really hard to buy bitcoins with Yaun and/or cash them out into mainland yaun.

But wouldn't you be able to get around that by simply going Yuan -> dollars (or any currency) -> Bitcoin? I don't get it.

China has strict export / import capital controls on any and all currency instruments interfacing with the yaun.  

On top of that, you can only export so much fiat in or out, regardless of the type.

You basically have to now figure out an extremely creative way (i.e. become a criminal) to either buy bitcoin with mainland yaun, or sell out into mainland yaun. 

That being said, there is so much corruption at the higher levels of "government" in China that it is likely they may still have a smallish, but visible, impact on the price of a bitcoin.

This is basically the situation in China. They have "Banned" bitcoin because it is inconsistent with their capital control regime. However most banking in China is shadow banking and if you are connected you can do whatever you want regardless of the law. Bitcoins gonna flow.

[Mikcik]

Bitcoin ban my ass: http://www.coindesk.com/btc-china-dismisses-pboc-fears-open-letter/

I told you there is NO COUNTRY that can successfully ban Bitcoin.....

thats just sad... whoops russia banned bitcoin, whoops its really easy... The one thing that IS really disgusting in bitcoin universe is its dull community :-(.

[S4VV4S]

Bitcoin ban my ass: http://www.coindesk.com/btc-china-dismisses-pboc-fears-open-letter/

I told you there is NO COUNTRY that can successfully ban Bitcoin.....

thats just sad... whoops russia banned bitcoin, whoos its really easy. The one thing that IS really disgusting in bitcoin universe is its dull community :-(.

Can't argue with that.
Trolls just appear out of nowhere.... 

[bountygiver]

Bitcoin ban my ass: http://www.coindesk.com/btc-china-dismisses-pboc-fears-open-letter/

I told you there is NO COUNTRY that can successfully ban Bitcoin.....

thats just sad... whoops russia banned bitcoin, whoops its really easy... The one thing that IS really disgusting in bitcoin universe is its dull community :-(.

You can ban it but it is impossible to enforce the ban. If you are a Russian and you got bitcoins, you still can spend it, transfer them, or do whatever you want. You just can't exchange at your local bank.
And if you are afraid that the government is tracking you down, use a vpn and do not use any service that requires you to enter your real information (use fake info) unless you really trust that the service will never leak out your info when a NSA-equivalent requests it.