Largest Chinese Exchange Ordered Bank Shut Down By Apr 18

[Legal Counsel Zhou (PRC)]

Time for China to stand up and overthrow it's control freak of a government who are simply old rich men in suits. They are corrupt, greedy stupid, lazy, fat, murderers- the Chinese government need to FINISH. They take Chinese freedom away with propaganda's commy lies since young children, they blind the Chinese with falsehoods since babies and let them be poor. See, freedom is come for a price you need to earn it and that is to say, China must turn it's guns on it'self, in particular, Beijing must die.

transmitting data containing this content is not very good for the chinese that frequent this board... hospital staff, legal workers, education leaders etc., would generally be required to submit such statements to their cpc department leader if it frequently occurs; subsequently they would not be allowed on to this forum, or the forum would be blocked from within china. please consider us chinese people when posting such data.

[turio]

Is bitcoin doomed because of this? or is this just another bump in the road?

[byt411]

Is bitcoin doomed because of this? or is this just another bump in the road?

That's your opinion.
In my opinion, just a huge bump in the road.

[Lauda]

Is bitcoin doomed because of this? or is this just another bump in the road?

No. It's a temporary set-back.

[jparsley]

So china is out of btc for now. Is that why btc price so low

[bryant.coleman]

So china is out of btc for now. Is that why btc price so low

China was just a secondary factor. It was the Mt Gox crash which took BTC from $1,200 to $400.

[BitOnyx]

Is it same user posting same info ?

[LiteCoinGuy]

iam happy when we finally reach the 19. 

[LiteCoinGuy]

I am at a large wide-screen monitor and that looks great. 

make a shirt 

[crazy_rabbit]

What is interesting is that the stock market had it's worst drop today since 2011. Awfully big coincidence me thinks!

good point.

[windpath]

make a shirt 

Ha, good idea

[windpath]

Here ya go: http://www.zazzle.com/everything_is_going_to_b_ok_bitcoin_shirt-235527514148983304

[jparsley]

More news from china. Surely btc will survive.

[byt411]

More news from china. Surely btc will survive.

Wrong.
It will.

[RockHound]

Don't get it! how will moving overseas and incorporating offshore help Chinese bitcoiners?

Exchanges overseas accounts IBAN/SWIFT will be blacklisted??

It's like trying to fund Bitstamp from your Australian bank, they won't process it.

http://www.coindesk.com/chinese-bitcoin-exchanges-prepare-to-move-operations-overseas/

[byt411]

Don't get it! how will moving overseas and incorporating offshore help Chinese bitcoiners?

Exchanges overseas accounts IBAN/SWIFT will be blacklisted??

It's like trying to fund Bitstamp from your Australian bank, they won't process it.

http://www.coindesk.com/chinese-bitcoin-exchanges-prepare-to-move-operations-overseas/

For example, if BTC China has an account in the UK, China cannot ban that.
Simple enough.

[ImI]

Don't get it! how will moving overseas and incorporating offshore help Chinese bitcoiners?

Exchanges overseas accounts IBAN/SWIFT will be blacklisted??

It's like trying to fund Bitstamp from your Australian bank, they won't process it.

http://www.coindesk.com/chinese-bitcoin-exchanges-prepare-to-move-operations-overseas/

For example, if BTC China has an account in the UK, China cannot ban that.
Simple enough.

on the flipside, no chinese could buy one bitcoin through this uk-account

[byt411]

Don't get it! how will moving overseas and incorporating offshore help Chinese bitcoiners?

Exchanges overseas accounts IBAN/SWIFT will be blacklisted??

It's like trying to fund Bitstamp from your Australian bank, they won't process it.

http://www.coindesk.com/chinese-bitcoin-exchanges-prepare-to-move-operations-overseas/

For example, if BTC China has an account in the UK, China cannot ban that.
Simple enough.

on the flipside, no chinese could buy one bitcoin through this uk-account

You would have to do international transfers.

[ImI]

Don't get it! how will moving overseas and incorporating offshore help Chinese bitcoiners?

Exchanges overseas accounts IBAN/SWIFT will be blacklisted??

It's like trying to fund Bitstamp from your Australian bank, they won't process it.

http://www.coindesk.com/chinese-bitcoin-exchanges-prepare-to-move-operations-overseas/

For example, if BTC China has an account in the UK, China cannot ban that.
Simple enough.

on the flipside, no chinese could buy one bitcoin through this uk-account

You would have to do international transfers.

afaik chinese are not allowed to do international transfers

at least no yuan goes out of china without government permission

[RockHound]

Don't get it! how will moving overseas and incorporating offshore help Chinese bitcoiners?

Exchanges overseas accounts IBAN/SWIFT will be blacklisted??

It's like trying to fund Bitstamp from your Australian bank, they won't process it.

http://www.coindesk.com/chinese-bitcoin-exchanges-prepare-to-move-operations-overseas/

For example, if BTC China has an account in the UK, China cannot ban that.
Simple enough.

on the flipside, no chinese could buy one bitcoin through this uk-account

You would have to do international transfers.

afaik chinese are not allowed to do international transfers

at least no yuan goes out of china without government permission

Cheers guys - good points!  Hopefully they will be allowed to do a standard IMT (international wire) however, I don't think that will last long given it's still a Ƀ exchange.

Levels the playing field a bit My IMT's take 3-5 days vs Chinese bitcoiners enjoying a 2Hr funding (well up until 2 weeks ago)

I do have a few mates in Beijing, I will suggest them to look into IMT's over to BTC-e, while they still can.