BREAKING NEWS. (MORE) CHINA BANKS BANS ON APRIL 18TH

[y3804]

EDIT: While this post might seem bearish, I do NOT expect to see a huge dip (we've already dropped to 3070 CNY). Banks ban are already priced in to a great extent and all exchanges still have working deposits/withdrawals. Most are fully aware that the central bank plans to ban public/private accounts and does so step-by-step, so this shouldn't be news to most of you..

OKCOIN

https://www.okcoin.com/t-1008417.html

Dear OKcoin users:

OKCoin Branch received a phone call to the Construction Bank: the higher authorities should be required, China Construction Bank accounts will be suspended for the OKCoin services. Subsequently, we conducted in-depth communication with the bank immediately after issuing this Announcement. Communication with the bank details are as follows:

1 Branch of the China Construction Bank to receive notice of the higher authorities, the suspension is OKCoin on the ground branch of service requirements on 4 April 18 afternoon 16 : 00 before off households.

2 This notice is oral notice, Branch not received any written document.

3 user banks Katy is not affected.

4 other banks recharge unaffected.

Details about the bank card recharge pause:

OKCoin be 4 months 18 am 10 : 00 officially stop the use of land branch of China Construction Bank account recharge, other banks temporarily affected, users mention now everything is normal, there is the latest news OKCoin will be the first Time release.

OKCoin as Bitcoin investor attention and trust of the professional trading platform, we have been proactive response program to prepare all kinds of emergencies, as far as possible to protect the interests of investors affected. We know that this notice is issued, the parties will have been severely criticized; But as a platform, we can only be impartial, timely and efficient. We all know that domestic policy adjustments Bitcoin market will certainly have an impact, but we also know that Bitcoin is a prairie in the world, and today we are "a bit of people." Currently emergency plan progress as follows:

1, OKCoin are communicating with more financial institutions, to build more recharge channels.

2, recharge code Bye recharge service agents will soon be published.

3, OKCoin overseas operations teams are helping to complete the construction technology overseas stations.

OKCoin together bits of marine launched "Bitcoin vending machines' upcoming production.

CHINA BITCOIN

https://www.chbtc.com/news/show-526-proclamation

With a very heavy heart that we publish the news, before continuing 415 14 Exchange of part or all of the bank is notified cancel the account after everyone including us great pleasure to think things over, but the 17 April 10 point, we formally received the Bank of China Beijing Branch Baijiazhuang branch off households notice, after our Beijing high-level verification, we carefully released this announcement.

Update

16:00, we received the Bank of China Beijing Branch Branch Baijiazhuang customer service phone again, the content is leading an urgent request for the cancellation of ten star treasure seize corporate accounts in their banks, a telephone recording .

HUOBI

http://www.huobi.com/news/index.php?a=show_notice&id=324

Notice of suspension of bank recharge fire coins network approach

Dear fire coins network users:

    16:15 this afternoon received a branch of China Construction Bank on land client manager notification requirements should be higher line, CCB will suspend the provision of services for fire gold coins into the network. Due to the current banking policy uncertainties, we have decided to suspend the bank recharge this way (withdrawals are not affected), to be determined before making policy adjustments. Users can use the recharge card, prepaid card supports all major banks, 7 * 24 hours a timely arrival.


    Fire coins Network Operations
    2014.04.17

China Bitcoin's analysis:

All aspects of analysis, the central bank to stop Bitcoin trading site bank account (for the public to the private) things should have someone or a group responsible for handling the intent is clear, determined and consistent execution, but the execution performance out of the way is low-key, step by step, so although we do not receive notice of other banks, but we do not have hope for the future to retain the private banking recharge, or use a small private bank account recharge, we will continue to do other accounts are cancel the account of the preparation.

[1714882276]

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[piramida]

oh my god that means we must sell lower because newses

[y3804]

Western exchanges are coupled with the rates in China... so yes, you'll have to sell lower. Sorry

On a side note, I think they plan to introduce ATMs soon as another recharge channel. But soon they'll run out of options and will have to move offshore. I've been repeating this endlessly

We may hold over $500 for a couple hours, then I expect $470ish

[MatTheCat]

Western exchanges are coupled with the rates in China... so yes, you'll have to sell lower. Sorry

On a side note, I think they plan to introduce ATMs soon as another recharge channel. But soon they'll run out of options and will have to move offshore. I've been repeating this endlessly

We may hold over $500 for a couple hours, then I expect $470ish

Vouchers Mk2?

Predictive quote from Xiou Zhouchuan in 6 weeks time as filtered through google translate:

"The PBOC wishes to make it clear that it has no intention of banning Bitcoin and Chinese citizens are free to trade it as a commodity, but see them fkn Bitcoin ATM's ZOMFG THEY ARE SO FKN BANNED"

[khme88]

News like this won't affect bitcoin in the slightest, except for create short-term dips in price.

[djangocoin]

...and back down we go! lol

[y3804]

News like this won't affect bitcoin in the slightest, except for create short-term dips in price.

...and back down we go! lol

I believe banks ban is already priced in up to a point. If we go down, it's also market correction. Deposits/withdrawals still working all-around in China. ATMs will be available soon. China knows that central bank is banning public/private bank accounts and doing this step-by-step.

However, if bank transfers must be halted completely, then that, I would worry about. For now I would expect things to stay relatively stable, price over $450+ for short-term

[xDan]

Katy is not affected

Who is this Katy and why does she get a free pass?

It's time people stopped caring about China, really... Just assume it is or will be banned there, and move on.

[Deviant1]

Unbelievable! It's like they are trying to manipulate the price. Constant rumours,  then the day passes when the rumour is supposed to come true and nothing happens so the price rises, then a new announcement.

F U PBOC, F U !!!

[yayayo]

The whole China drama is ridiculous. People panicking without any solid reason.

I'm happy to see all those short-term traders leave. They never truly understood Bitcoin.


ya.ya.yo!

[DhaniBoy]

another exchanger banned in china?
fu*k PBOC, they always love to see bitcoin prices down

[roslinpl]

LOL!

ANOTHER?? Ban???

Are you kidding me?
hehehe

I am not reading any more news about "Bitcoin Ban in China"



Rumors!

[Tx2000]

"To the moon!"

"Bitcoin is doomed!"

"I am the moral advisor and I say, it will go up and it will go down.  Happiness with unhappiness."

"Bitcoin is the devil!"


"Underpants.  Gnomes."

[spazzdla]

More FUD from china WHO WOULD OF GUESSED IT?!?!?!

[dogechode]

Using China news to drop prices for a nice fat rebuy worked so well last time, why wouldn't they try it again? This is becoming rather dull and predictable.

[master-P]

Using China news to drop prices for a nice fat rebuy worked so well last time, why wouldn't they try it again? This is becoming rather dull and predictable.

They probably will try it again but the drop won't be as significant.

[sgbett]

don't panic, i have authentic sources that are good. in fact i believe it is a government website because it has china in the url

http://haschinabannedbitcoin.com

[UnDerDoG81]

I expected the next China ban in a month or two but 2 days after it was banned, it is banned again is ridiculous.

[spazzdla]

I expected the next China ban in a month or two but 2 days after it was banned, it is banned again is ridiculous.

I said China will not let BTC climb past $500 easily.  IMO they will continue to attempt to drive the price to sub $100(I can't see them doing it but they get an A+ for trying), when they achive their desired amount of BTC... strong hands will be rewarded.

[roslinpl]

I expected the next China ban in a month or two but 2 days after it was banned, it is banned again is ridiculous.

We should count how many China bans we already had?
10?

[Undone]

I believe the community is becoming more immune to these constant "China's going to ban bitcoin" scares.

You can feel the change in sentiment; this shit just doesn't concern people as much as it did three months ago. Which is a good thing.

[BittBurger]

I expected the next China ban in a month or two but 2 days after it was banned, it is banned again is ridiculous.

I said China will not let BTC climb past $500 easily.  IMO they will continue to attempt to drive the price to sub $100(I can't see them doing it but they get an A+ for trying), when they achive their desired amount of BTC... strong hands will be rewarded.

Thank you China.   :-/

[Arghhh]

GTFO China, you can't have any more magical internet money.

[spazzdla]

I expected the next China ban in a month or two but 2 days after it was banned, it is banned again is ridiculous.

I said China will not let BTC climb past $500 easily.  IMO they will continue to attempt to drive the price to sub $100(I can't see them doing it but they get an A+ for trying), when they achive their desired amount of BTC... strong hands will be rewarded.

Thank you China.   :-/

I am not pleased about this...  I am just stating what I am seeing.  Do not fall for the FUD, HODL.

[MatTheCat]

I said China will not let BTC climb past $500 easily.  IMO they will continue to attempt to drive the price to sub $100(I can't see them doing it but they get an A+ for trying), when they achive their desired amount of BTC... strong hands will be rewarded.

Go and look over the short Huobi chart over the past few days, compare it with Bitstamp, and see who kicked off every single surge of buying pressure for every single leg up of the recent price spike. Once you have done that you may want to rearrange that statement. The Chinese Bitcoin pumpers n dumpers will continue to extort and exploit this market as much as they possibly can in order to wring out maximum USD from the market. They will pump it as high as they feasibly can and crash it as low as they feasibly can, fleecing the mass of Bitcoin speculators every step of the way.

It is because China that Bitcoin even hit the heights that it hit to begin with.

It is because of China that Bitcoin spiked up $548.

It will be due to lack of organic demand that Bitcoin grinds down from here, but because if China that it flash crashes down to $200 range.

etc etc.

(and many say that much of the Chinese volume is fake)

[hodlmybtc]

I said China will not let BTC climb past $500 easily.  IMO they will continue to attempt to drive the price to sub $100(I can't see them doing it but they get an A+ for trying), when they achive their desired amount of BTC... strong hands will be rewarded.

Go and look over the short Huobi chart over the past few days, compare it with Bitstamp, and see who kicked off every single surge of buying pressure for every single leg up of the recent price spike. Once you have done that you may want to rearrange that statement. The Chinese Bitcoin pumpers n dumpers will continue to extort and exploit this market as much as they possibly can in order to wring out maximum USD from the market. They will pump it as high as they feasibly can and crash it as low as they feasibly can, fleecing the mass of Bitcoin speculators every step of the way.

It is because China that Bitcoin even hit the heights that it hit to begin with.

It is because of China that Bitcoin spiked up $548.

It will be due to lack of organic demand that Bitcoin grinds down from here, but because if China that it flash crashes down to $200 range.

etc etc.

(and many say that much of the Chinese volume is fake)

I don't really see Bitcoin crashing down to the $200 range, but I certainly wouldn't mind picking up some $200 coins.

I bet 99% of the people here would go all-in at those prices before climbing to a new ATH somewhere this year or early 2015.

PBOC please ban Bitcoin 934234 more times so we can scoop up those cheap coins! 

[MOB]

I expected the next China ban in a month or two but 2 days after it was banned, it is banned again is ridiculous.

I said China will not let BTC climb past $500 easily.  IMO they will continue to attempt to drive the price to sub $100(I can't see them doing it but they get an A+ for trying), when they achive their desired amount of BTC... strong hands will be rewarded.

Those who panic first panic best.  If you are going sell, then sell now and post buys all the way down.  If you do it right, then you will be rewarded more than "strong hands."

[scriptcloud]

oh no!!! not again!!!

[twelvesigns]

Its the end of the world ---- in china!

[hodlmybtc]

I expected the next China ban in a month or two but 2 days after it was banned, it is banned again is ridiculous.

I said China will not let BTC climb past $500 easily.  IMO they will continue to attempt to drive the price to sub $100(I can't see them doing it but they get an A+ for trying), when they achive their desired amount of BTC... strong hands will be rewarded.

Those who panic first panic best.  If you are going sell, then sell now and post buys all the way down.  If you do it right, then you will be rewarded more than "strong hands."

You forget that it may backfire on you, less people are taking this China FUD serious as was seen today so you might miss the train when you sold all your coins and the price doesn't drop as you expected.

[MatTheCat]

I don't really see Bitcoin crashing down to the $200 range, but I certainly wouldn't mind picking up some $200 coins.

I bet 99% of the people here would go all-in at those prices before climbing to a new ATH somewhere this year or early 2015.

PBOC please ban Bitcoin 934234 more times so we can scoop up those cheap coins! 

Same arguments I seen when Bitcoin was trending in $800 range. Indeed, I was told firmly by various early adopter forum members that $800 Bitcoin was cheap Bitcoin and that I should buy all the "fkn Bitcoins that I fkn can", whilst Bitcoin was at the bargain basement price of $820. Bitcoin could never go below $700, $600, $500, $400 because all the Bitcoiners all over the world will be going all in to scoop up all dem cheap coins.

[hodlmybtc]

I don't really see Bitcoin crashing down to the $200 range, but I certainly wouldn't mind picking up some $200 coins.

I bet 99% of the people here would go all-in at those prices before climbing to a new ATH somewhere this year or early 2015.

PBOC please ban Bitcoin 934234 more times so we can scoop up those cheap coins! 

Same arguments I seen when Bitcoin was trending in $800 range. Indeed, I was told firmly by various early adopter forum members that $800 Bitcoin was cheap Bitcoin and that I should buy all the "fkn Bitcoins that I fkn can", whilst Bitcoin was at the bargain basement price of $820. Bitcoin could never go below $700, $600, $500, $400 because all the Bitcoiners all over the world will be going all in to scoop up all dem cheap coins.

It all depends on how long you hold on to your coins, in the long run $800 is cheap and I´m sure enough people rushed in to buy coins below $500, I did and I definately will go all-in if the they are $200, unless there are some serious fundamental issues ofcourse.

Also you maybe shouldn´t listen to people who say the price can never go below $x.

[atp1916]

I said China will not let BTC climb past $500 easily.  IMO they will continue to attempt to drive the price to sub $100(I can't see them doing it but they get an A+ for trying), when they achive their desired amount of BTC... strong hands will be rewarded.

Go and look over the short Huobi chart over the past few days, compare it with Bitstamp, and see who kicked off every single surge of buying pressure for every single leg up of the recent price spike. Once you have done that you may want to rearrange that statement. The Chinese Bitcoin pumpers n dumpers will continue to extort and exploit this market as much as they possibly can in order to wring out maximum USD from the market. They will pump it as high as they feasibly can and crash it as low as they feasibly can, fleecing the mass of Bitcoin speculators every step of the way.

It is because China that Bitcoin even hit the heights that it hit to begin with.

It is because of China that Bitcoin spiked up $548.

It will be due to lack of organic demand that Bitcoin grinds down from here, but because if China that it flash crashes down to $200 range.

etc etc.

(and many say that much of the Chinese volume is fake)

That will fix itself in due time as market entities here in the US get their business models tax compliant in regards to handling bitcoin.

At that point, China really won't matter.

[TeeBone]

I don't really see Bitcoin crashing down to the $200 range, but I certainly wouldn't mind picking up some $200 coins.

I bet 99% of the people here would go all-in at those prices before climbing to a new ATH somewhere this year or early 2015.

PBOC please ban Bitcoin 934234 more times so we can scoop up those cheap coins! 

Same arguments I seen when Bitcoin was trending in $800 range. Indeed, I was told firmly by various early adopter forum members that $800 Bitcoin was cheap Bitcoin and that I should buy all the "fkn Bitcoins that I fkn can", whilst Bitcoin was at the bargain basement price of $820. Bitcoin could never go below $700, $600, $500, $400 because all the Bitcoiners all over the world will be going all in to scoop up all dem cheap coins.

Of course you heard that, thats how a pyramid scheme works. Any price is a good price according to the salesmen...and after you buy in, dont forget to fish in the person next to you to protect your 'investment'. It's the blind leading the blind.

[vitarian]

The whole China drama is ridiculous. People panicking without any solid reason.

I'm happy to see all those short-term traders leave. They never truly understood Bitcoin.


ya.ya.yo!

I can't wait until China is completely out of the bitcoin market so they can stop f$cking with the price!

[gentacomp]

CR said its only in short time period... Should I buy at 450 or 400 ?
Im guessing it will not down lower than 425...

[gagalady]

Price goes down again because people gets scared of banned china banks and sell their bitcoins? IF i'm right don't get effect cause of those bans, there already was so many of them, we can survive that!

[leopard2]

china realestate bubble is bursting as we speak

where is all the SHADOW BANKING MONEY going now? Guess where hehehe 

[jamesc760]

Blah blah blah China blah blah blah, SELL SELL SELL NOW!!!

Blah blah blah China blah blah blah, BUY BUY BUY NOW!!!

Are we just marionettes???