Largest Chinese Exchange Ordered Bank Shut Down By Apr 18

[Legal Counsel Zhou (PRC)]

尊敬的火币网用户：

      火币网最新信息：
      今天上午10时左右接到工行中关村支行客户经理通知，接到上级运行管理部的通知，要求停止工行为火币网提供服务，在4月18日前完成火币网工行账户的销户。

      上午10点30分左右，火币网几位合伙人赶到工行中关村支行，与支行的客户经理当面沟通了解情况。
情况如下：
      1）确实接到工行上级通知，要求停止火币网在工行中关村支行的账户，限期为4月18日；
      2）通知为口头通知，支行未接到任何书面文件；
      3）问到其他行为什么没有发通知，答称可能不同银行对政策的解读不一样，敏感度也不一样；
      4）问有没有回旋余地，答称没有，因为是上级通知，不是商量；
      5）问到如何处理用户的后续资金管理，答称可以把资金转移到其他商业银行，但是工行肯定是不可以了。

      其中，还向客户经理请教了对于这次比特币政策的看法以及其他相关事情，但因均是个人观点不代表工行的立场也与火币网直接业务关系不大，不在本通知中一一说明。

      上午12点，赶回公司发公告。发公告之前，未向任何用户或组织提前透露该信息，请广大用户监督。

      火币网将于下周一（4月14号）正式停止使用工行中关村支行账户充值和提现(用户工商银行帐号提现不受影响，我们将使用其他银行跨行转账到您的工行账户中)，目前为止其他银行暂时还不受影响，有最新消息火币网将在第一时间发布。
  

      火币网运营部
      2014/04/10

10:00 shut down letter received
10:30 arrived at bank branch office for face to face clarification
1) huobi account at bank branch to be shut down apr 18
2) shut down ordered by central bank authority
3) order received through spoken word directly; no paper trail
4) whether there is any way to circumvent; No
5) user funds must transfer out to another bank before apr 18
12:00 press release

[Bit_Happy]

Yawn
Old news is old.
Soon the market will no longer respond to China.

Did you see this?
Major French Supermarket Chain to Accept Bitcoin
https://bitcointalk.org/index.php?topic=563444.0

[LeChatNoir]

Wow it's the 47th time the same news is reiterated. It just keeps coming out again and again, and every time it's sell off time.

I'm buying as much as i can, if it drops below 250$ by then i will be 100% in BTC.

TY monkeys for selling as low as 400$ see you again on 5 digits bye bye!

[Bit_Happy]

Wow it's the 47th time the same news is reiterated. It just keeps coming out again and again, and every time it's sell off time.

I'm buying as much as i can, if it drops below 250$ by then i will be 100% in BTC.

TY monkeys for selling as low as 400$ see you again on 5 digits bye bye!

Feels like the 547th time the same news is reiterated.
The price we pay for having had a China Bubble?
Fortunately there is plenty of good news in other countries, and only a limited number of BTC will ever exist. 

[TTM]

Fortunately there is plenty of good news in other countries, and only a limited number of BTC will ever exist.  

This ban doesn't mean a large amount of BTC is confined inside China. "Strong hands" in China are buying now so they can dump later on international exchanges. That'll be real diaster.

[Bit_Happy]

Fortunately there is plenty of good news in other countries, and only a limited number of BTC will ever exist.  

This ban doesn't mean a large amount of BTC is confined inside China. "Strong hands" in China are buying now so they can dump later on international exchanges. That'll be real diaster.

I'll answer that with a quote from BTC-e trollbox live:
"I guess once china is out, America can really control crypto... we become the number 1 player once again.. and with wall street buying in, I really don't see this as a bad thing." (user: SatoshiNakaMario:)

Bye China, you were fun for a while...

[sidhujag]

Fortunately there is plenty of good news in other countries, and only a limited number of BTC will ever exist.  

This ban doesn't mean a large amount of BTC is confined inside China. "Strong hands" in China are buying now so they can dump later on international exchanges. That'll be real diaster.

I'll answer that with a quote from BTC-e trollbox live:
"I guess once china is out, America can really control crypto... we become the number 1 player once again.. and with wall street buying in, I really don't see this as a bad thing." (user: SatoshiNakaMario:)

Bye China, you were fun for a while...

Then we will be at $50 again if china is really out

[YogoH]

It is only one bank, it says their other banks are not affected.


This reminds me of when china banned 3rd party payment processors, yet they are still around...

[TTM]

It is only one bank, it says their other banks are not affected.

Other banks will do the same very soon. The order came from central bank, so every banks inside China will have to do it.

[jubalix]

4 post account newb.

Where has that new purgatory gone, we need to keep them there, to get more signal less noise.


3) order received through spoken word directly; no paper trail

FUD...and who cares any more.....its been the nth time this thread has been run. If people haven't priced this in by now...well then that just bad luck.

[TTM]

4 post account newb.

Where has that new purgatory gone, we need to keep them there, to get more signal less noise.


3) order received through spoken word directly; no paper trail

FUD...and who cares any more.....its been the nth time this thread has been run. If people haven't priced this in by now...well then that just bad luck.

It's your choice to believe a 4 posts user or not, but i guess you can't ignore official website of Huobi:
http://www.huobi.com/news/index.php?a=show_notice&id=303

[Equate]

I would like China to be out from Bitcoin . It's same shit as gox , same FUD every now and then.

[medicine]

Wow it's the 47th time the same news is reiterated. It just keeps coming out again and again, and every time it's sell off time.

I'm buying as much as i can, if it drops below 250$ by then i will be 100% in BTC.

TY monkeys for selling as low as 400$ see you again on 5 digits bye bye!

Feels like the 547th time the same news is reiterated.
The price we pay for having had a China Bubble?
Fortunately there is plenty of good news in other countries, and only a limited number of BTC will ever exist. 

Ya you mean  21,000,000,000,000,000 units.  Isn't that a lot? Just saying the scarcity argument has been debunked.

[howzar]

Yawn
Old news is old.
Soon the market will no longer respond to China.

Did you see this?
Major French Supermarket Chain to Accept Bitcoin
https://bitcointalk.org/index.php?topic=563444.0

You have to learn that the community reacts much more to bad news than good news

[Bit_Happy]

Wow it's the 47th time the same news is reiterated. It just keeps coming out again and again, and every time it's sell off time.

I'm buying as much as i can, if it drops below 250$ by then i will be 100% in BTC.

TY monkeys for selling as low as 400$ see you again on 5 digits bye bye!

Feels like the 547th time the same news is reiterated.
The price we pay for having had a China Bubble?
Fortunately there is plenty of good news in other countries, and only a limited number of BTC will ever exist. 

Ya you mean  21,000,000,000,000,000 units.  Isn't that a lot? Just saying the scarcity argument has been debunked.

The scarcity argument has been debunked only in terms of "will there be enough BTC to use as money".

No it hasn't been "debunked" in terms of rarity.
If you want to own 1 whole BTC, the price will probably be much higher in the future.

[bryant.coleman]

Before the China bubble, BTC was trading at $400 levels. China took it to $1,200. Now Gox has taken BTC back to $400. Have to see how much lower China will take it now. 

[Bit_Happy]

Yawn
Old news is old.
Soon the market will no longer respond to China.

Did you see this?
Major French Supermarket Chain to Accept Bitcoin
https://bitcointalk.org/index.php?topic=563444.0

You have to learn that the community reacts much more to bad news than good news

That is temporary:
When the Bear cycle ends the market will react strongly to good news, and often shrug off the bad.

[jubalix]

4 post account newb.

Where has that new purgatory gone, we need to keep them there, to get more signal less noise.


3) order received through spoken word directly; no paper trail

FUD...and who cares any more.....its been the nth time this thread has been run. If people haven't priced this in by now...well then that just bad luck.

It's your choice to believe a 4 posts user or not, but i guess you can't ignore official website of Huobi:
http://www.huobi.com/news/index.php?a=show_notice&id=303

google translate says:


5 ) asked how to handle the user's subsequent capital management , replied that the funds can be transferred to other commercial banks , but ICBC is definitely not it.

so off to other banks in Hong Kong!

[freedomno1]

Well I will be happy when 8 more days pass by and we see this calming down

[ljudotina]

Before the China bubble, BTC was trading at $400 levels. China took it to $1,200. Now Gox has taken BTC back to $400. Have to see how much lower China will take it now. 

Gox + partly China got it down to 400. Dont forget that we had 2 of this news until now and both time price dropped.