Say something about China and Chinese btc ban.

[Velaciela]

I'm a Chinese, in my state, I can't see youtube, fb, twitter. And before just two days, the gov just banned some American tv series including "the big bang theory" that played on a top video website. (NASDAQ:SOHU)   Movies, tv ,website or even videogames need to be censored by the gov.

Now, my complain on a foreign website maybe seen as a crime. If our Internet censorship police see this thread may arrest me.But I will still say about what happened in China:


BTC in China's situation showed that  how terrible people lived in that places which have no human right is.   In the past, like communist soviet  or DPRK now, people are not allowed to have private property and no human right. Now,after the communist empire down, people in China, which can have a limited freedom on property rights. but no any political right.


From the view of foreigners, China may have a rapid growth in economics, have tall buildings, cities, cars, and have internet, website, even bitcoins, And we traded btcs on international markets.

But, examine carefully the details about the  property right in China(or such a fucking country like russia), you find that there is no law to protect your property.  For example, people can NOT OWN LAND in China, if you buy land or house, it means, the gov rent you the land for 70 years, and your pay is the rent. And, if it is necessary, gov can get the land back for "public reasons"at any time.

And the "Chinese yuan" is also a joke. The inflation of CNY is terrible, I take a taxi from a price 10CNY start at two years ago, than 11 one year ago, than 13 half year before. How much CNY is new issued every year is decided by the committee of communist party(NOT CENTRAL BANK), and the "Monetary Policy” is also made by communist committee.  They got a average 2-digit M2 growth rate every year, like now, 2014 is about 13%, and the number is about, which have not precise numbers.

So people have to escape from their fiat, buy houses,(although have a limited land right),gold , and get the money out of china. Whe the gov find BTC, they were scared and furious , want to ban it immediately. It fucked up the capital control and can have a property right without gov.

But One of the officials said will not ban btc before, so they can't eat their speak in a week( but often eat after month),and have to give ban secretly to banks.



But, After China ban , What do you think about btc without China? Is btc get doomed without the Chinese money pumped in?

[bananaControl]

Thank you very much for your honest post, it isn't often we in the west get to hear what it is like in China from someone who speaks so freely.

But, After China ban , What do you think about btc without China? Is btc get doomed without the Chinese money pumped in?

As we all know the last bubble was sponsored by China but with all the FUD coming from the Chinese gov/banks it has also caused a lot of harm to the bitcoin environment, but since we are not back to square one when it comes to price, I think it is fair to say that China has done more good than bad.

The next trip to the moon will be payed for by Wallstreet and the big guys, so no need for China there. But hopefully bitcoin will grow big and strong and in the meantime live underground in China until it gets so big that a ban in China is no longer possible.

Keep doing your underground trading, and in a handful of years I'm sure that you will be much better off financially than many of your countrymen who obeys your government blindly.

[BitCoinDream]

I'm a Chinese, in my state, I can't see youtube, fb, twitter. And before just two days, the gov just banned some American tv series including "the big bang theory" that played on a top video website. (NASDAQ:SOHU)   Movies, tv ,website or even videogames need to be censored by the gov.

Now, my complain on a foreign website maybe seen as a crime. If our Internet censorship police see this thread may arrest me.But I will still say about what happened in China:


BTC in China's situation showed that  how terrible people lived in that places which have no human right is.   In the past, like communist soviet  or DPRK now, people are not allowed to have private property and no human right. Now,after the communist empire down, people in China, which can have a limited freedom on property rights. but no any political right.


From the view of foreigners, China may have a rapid growth in economics, have tall buildings, cities, cars, and have internet, website, even bitcoins, And we traded btcs on international markets.

But, examine carefully the details about the  property right in China(or such a fucking country like russia), you find that there is no law to protect your property.  For example, people can NOT OWN LAND in China, if you buy land or house, it means, the gov rent you the land for 70 years, and your pay is the rent. And, if it is necessary, gov can get the land back for "public reasons"at any time.

And the "Chinese yuan" is also a joke. The inflation of CNY is terrible, I take a taxi from a price 10CNY start at two years ago, than 11 one year ago, than 13 half year before. How much CNY is new issued every year is decided by the committee of communist party(NOT CENTRAL BANK), and the "Monetary Policy” is also made by communist committee.  They got a average 2-digit M2 growth rate every year, like now, 2014 is about 13%, and the number is about, which have not precise numbers.

So people have to escape from their fiat, buy houses,(although have a limited land right),gold , and get the money out of china. Whe the gov find BTC, they were scared and furious , want to ban it immediately. It fucked up the capital control and can have a property right without gov.

But One of the officials said will not ban btc before, so they can't eat their speak in a week( but often eat after month),and have to give ban secretly to banks.



But, After China ban , What do you think about btc without China? Is btc get doomed without the Chinese money pumped in?

BTC is not dependent on China. It has got free movement in multiple countries like Cyprus, Germany. China money was just a pumping factor and so much CNY has now got involved in BTC, it has become a problem for China govt, NOT bitcoin. For you and those who share the similar feelings as of you, push your CNY into BTC China, Huobi or other chinese exchanges, get BTC in your wallet, apply for EU visa and move to Germany or Cyprus. Have a nice Life

[jubalix]

BTC exchanges set up in HK.
HK <=> MAINLAND RMB very porous basically infinite

Problem solved
and that's just stage one.

There is to much money to be earned by exchanges now that this will happen

[Timo Y]

The net effect of China on Bitcoin can only be positive.  True, a lot of Chinese will avoid Bitcoin because of the government's hostility towards it.  But even if just 1% of Chinese were to start using Bitcoin, that would be a huge boost for Bitcoin's user base.

In China there is a lot of pent-up demand for a good store-of-value, but very limited supply.  In the long term, something has to give.

China is a bit like a huge bucket submerged in water. The bucket is mostly watertight, but it does have numerous microscopic cracks where water is constantly leaking in.  The government is constantly trying to mend the cracks but new ones keep appearing.  Slowly but surely the bucket is filling. It might take decades but eventually the bucket will have the same water level as the outside world.

[S4VV4S]

I'm a Chinese, in my state, I can't see youtube, fb, twitter. And before just two days, the gov just banned some American tv series including "the big bang theory" that played on a top video website. (NASDAQ:SOHU)   Movies, tv ,website or even videogames need to be censored by the gov.

Now, my complain on a foreign website maybe seen as a crime. If our Internet censorship police see this thread may arrest me.But I will still say about what happened in China:


BTC in China's situation showed that  how terrible people lived in that places which have no human right is.   In the past, like communist soviet  or DPRK now, people are not allowed to have private property and no human right. Now,after the communist empire down, people in China, which can have a limited freedom on property rights. but no any political right.


From the view of foreigners, China may have a rapid growth in economics, have tall buildings, cities, cars, and have internet, website, even bitcoins, And we traded btcs on international markets.

But, examine carefully the details about the  property right in China(or such a fucking country like russia), you find that there is no law to protect your property.  For example, people can NOT OWN LAND in China, if you buy land or house, it means, the gov rent you the land for 70 years, and your pay is the rent. And, if it is necessary, gov can get the land back for "public reasons"at any time.

And the "Chinese yuan" is also a joke. The inflation of CNY is terrible, I take a taxi from a price 10CNY start at two years ago, than 11 one year ago, than 13 half year before. How much CNY is new issued every year is decided by the committee of communist party(NOT CENTRAL BANK), and the "Monetary Policy” is also made by communist committee.  They got a average 2-digit M2 growth rate every year, like now, 2014 is about 13%, and the number is about, which have not precise numbers.

So people have to escape from their fiat, buy houses,(although have a limited land right),gold , and get the money out of china. Whe the gov find BTC, they were scared and furious , want to ban it immediately. It fucked up the capital control and can have a property right without gov.

But One of the officials said will not ban btc before, so they can't eat their speak in a week( but often eat after month),and have to give ban secretly to banks.



But, After China ban , What do you think about btc without China? Is btc get doomed without the Chinese money pumped in?

BTC is not dependent on China. It has got free movement in multiple countries like Cyprus, Germany. China money was just a pumping factor and so much CNY has now got involved in BTC, it has become a problem for China govt, NOT bitcoin. For you and those who share the similar feelings as of you, push your CNY into BTC China, Huobi or other chinese exchanges, get BTC in your wallet, apply for EU visa and move to Germany or Cyprus. Have a nice Life

I will agree with my main man (or woman) Bitcoindream here.

Get a student visa from University of Nicosia and come to Cyprus (you can pay them with Bitcoins).
You can stay here and study for up to 8 years (depending on your choice of studies) and then you can move to another EU country and continue your studies there.
If you get married with a local along the process, after a certain amount of years you gain citizenship

[Meuh6879]

Bitcoin saves from the inflation.
buy 1 BTC now, and 5 years after, the FIAT value is multiplied.

[peterle]

China locks down their internet pretty hard and blocks many other websites, so I don't see how anyone is surprised by this. I think all virtual currencies will continue to grow despite what any government has to say about it.

[gagalady]

You say you can't access fb, twitter , youtube in your country? It's blocked or something? I wonder would you be able to do that through TOR browser?
And no, i don't think that bitcoin will get doomed without china, It will still grow.

[Elwar]

BTC in China's situation showed that  how terrible people lived in that places which have no human right is.   - yep
have a limited freedom on property rights. but no any political right.  - yep
you find that there is no law to protect your property.  - militia has to protect property in the US
For example, people can NOT OWN LAND in China - yep
and your pay is the rent. And, if it is necessary - yep, we call the rent "property taxes"
gov can get the land back for "public reasons"at any time.  - yep, eminent domain

And the "Chinese yuan" is also a joke. - so is the "US dollar"
How much CNY is new issued every year is decided by the committee of communist party(NOT CENTRAL BANK), and the "Monetary Policy” is also made by communist committee.  They got a average 2-digit M2 growth rate every year, like now, 2014 is about 13%, and the number is about, which have not precise numbers. - Communist Committee...Federal Reserve...Q-infinity...yep

Preaching to the choir my friend.

[S4VV4S]

You say you can't access fb, twitter , youtube in your country? It's blocked or something? I wonder would you be able to do that through TOR browser?
And no, i don't think that bitcoin will get doomed without china, It will still grow.

They can access anything that doesn't block Tor - and that is a new IP for each request.

[leopard2]

Hi Velaciela

thanks for the interesting post.  What do you think about this?

http://www.bit-sky.com/index.php/english/370-chinese-corrupted-officers-will-push-bitcoin-price-up-1000-times

Is this realistic?

I think that BTC is desireable to Chinese and there will be a significant black market - because BTC is one of the few things they can TRULY OWN.

Cheers
Leo

[titan86]

Does really Chinese goverment banned "the big bang theory"? goverments take awful decisions, but this is the worst one! 

[Bit_Happy]

Thanks for joining us here. 
BTC will thrive with or without China.

[ChuckBuck]

Does really Chinese goverment banned "the big bang theory"? goverments take awful decisions, but this is the worst one! 

How can the Chinese government ban "The Big Bang Theory?"  That show is on at least 3 times a day on different channels and networks in the USA.

What?  They don't like the neverending laugh track?  Sheldon Cooper "Bazinga"!  Penny's boobs?

Get it together, China.

[Bit_Happy]

Say something about China and Chinese btc ban.
Yawn:
How much longer will they drag this out and extend deadlines?

[Malin Keshar]

at this point China banning bitcoin would be a good thing.At leas better than the current situation.
With known rules and prohibitions, the Chinese people can decide if they are willing to take the risk to go illegar or stay out,  but with incertainty and unknown rules the decicion is harder.
Plus people might be afraid of buy a coin and one day after China really bans it, and the correspondent USD value drops. Even if it drops after a ban, at least we will exit the imminent collapse mode and the market can grow again.

[Bitcoinpro]

who flung dung

[counter]

Sounds like more people should be aware of Bitcoin if the Government want to ban it for no good reason.  It is a shame your rights are being infringed upon,  Try and keep us updated when you are able.