BTC38 received a notice from one of the main banks in China

[yomofo]

http://www.weibo.com/btc38?topnav=1&wvr=5&topsug=1

google translate:

We received a clear Merchants Bank, Shenzhen Branch of China Construction Bank's notice, that it could not continue to provide settlement for the Bitcoin industry, so we can not continue to use the public accounts

Bing Translation:

Construction Bank, China Merchants Bank Shenzhen branch had informed us, cannot continue for clearing bitcoin industry, so we cannot be used for public accounts, personal card is even more impracticable. We have also consulted the banks such as Citigroup, people's livelihood, and also feedback cannot be provided in other accounts. Some people deliberately times intentionally shut down recharge Samadhi operation, if that is the case, we OKCOIN there would be no price difference.

[atp1916]

China has (officially) decoupled their fiat institutions / payment processors from virtual currencies.  This is entirely expected and welcomed.  

90% of the speculation has just been eliminated (for now at least).  The price of a bitcoin can finally stabilize (up).

In related news, not a single exchange over there has had its bitcoin trading abilities diminished.  

[cosmofly]

Excellent

Once again I'm proven right

[GigaCoin]

Excellent

Once again I'm proven right

Such arrogance. I can't believe someone that claims he's always right. That's just completely unlogical and highly probably a fat lie. People see through such nonsense you know, so no need to keep up appearances.

As annoying as it is, in a way he was right as indeed he said/predicted the China bank ban news is real a week ahead, but we laughed at him as we always do  

Anyways I think this China stuff is getting priced in the $400 range the future does seem grim for bitcoin in china as it has potential for people to launder their money easily out of China. Unless they regulate it instead somehow which can be a positive outcome.

We will have to deal with the volitality that comes with the Chinese gov flip flopping until they make a final decision. Might be soon or a whilr