Two Chinese bitcoin trading platforms announced to close for the policy

[runam0k]

OMGIDC

(I don't care)

[Abdussamad]

chinese central banks are not commercial banks. they are personal banks.

A country has one central bank. Except for the US, all countries' central banks are government owned. The central bank is the financial regulator for the entire country and its job is to be the government's banker.

All commercial banks in a country have to answer to the central bank. The central bank does not deal with individuals. It is not a commercial bank or a personal bank.

China's central bank is called the People's Bank of China or PBoC.

All of the above is stuff you learn in a basic economics class.

[dreamspark]

chinese central banks are not commercial banks. they are personal banks.

A country has one central bank. Except for the US, all countries' central banks are government owned. The central bank is the financial regulator for the entire country and its job is to be the government's banker.

All commercial banks in a country have to answer to the central bank. The central bank does not deal with individuals. It is not a commercial bank or a personal bank.

China's central bank is called the People's Bank of China or PBoC.

All of the above is stuff you learn in a basic economics class.

Not quiet all correct, in a basic economics class you would have learnt that the Bank of England is also privately owned in much the same way as the US Fed Reserve

[beescrow]

Couldn't they just move out on China, and set up the exchange on a VM ?

[Beliathon]

Bitcoin was always  under governments pressure?

No, for many months Bitcoin was "under the radar" of governments so to speak, it didn't really come to negative attention until it started being worth 500 times more than the US dollar.

...its regulation (especially in USA). Is it temporary situation or permanent?

Temporary. Just like the Copywrong War, the War on Drugs, the War on Terror, and everything else in this life and the next.

All things come to pass in time.

[dreamspark]

Couldn't they just move out on China, and set up the exchange on a VM ?

They are Chinese exchanges for mainly Chinese people (who make up about 1/7th of the world population) moving out of China doesnt solve the problem with no Chinese banks working with BTC, there are already plenty of exchanges for outside of China.

[murraypaul]

chinese central banks are not commercial banks. they are personal banks.

A country has one central bank. Except for the US, all countries' central banks are government owned. The central bank is the financial regulator for the entire country and its job is to be the government's banker.

All commercial banks in a country have to answer to the central bank. The central bank does not deal with individuals. It is not a commercial bank or a personal bank.

China's central bank is called the People's Bank of China or PBoC.

All of the above is stuff you learn in a basic economics class.

Not quiet all correct, in a basic economics class you would have learnt that the Bank of England is also privately owned in much the same way as the US Fed Reserve

If your basic economics class was held after 1945/6,  you would have learnt that the UK Government nationalised the Bank of England then, and hold all the shares.
http://hansard.millbanksystems.com/commons/1945/oct/29/bank-of-england-bill
http://www.bankofengland.co.uk/about/Documents/legislation/1946act.pdf

[franky1]

yawnnnnnnn

central banks have deeper ties and partnerships with government even if not owned by government.

commercial banks are independent and have more freedom. yes they still have to be regulated, but they have more freedoms then central banks.

and sorry for the word personal, it was meant as a way of saying they are independent, (whisky makes me mix words up youll learn that when you finish school)

[dreamspark]

chinese central banks are not commercial banks. they are personal banks.

A country has one central bank. Except for the US, all countries' central banks are government owned. The central bank is the financial regulator for the entire country and its job is to be the government's banker.

All commercial banks in a country have to answer to the central bank. The central bank does not deal with individuals. It is not a commercial bank or a personal bank.

China's central bank is called the People's Bank of China or PBoC.

All of the above is stuff you learn in a basic economics class.

Not quiet all correct, in a basic economics class you would have learnt that the Bank of England is also privately owned in much the same way as the US Fed Reserve

If your basic economics class was held after 1945/6,  you would have learnt that the UK Government nationalised the Bank of England then, and hold all the shares.
http://hansard.millbanksystems.com/commons/1945/oct/29/bank-of-england-bill
http://www.bankofengland.co.uk/about/Documents/legislation/1946act.pdf

I must admit I wasn't aware they were completely gov owned. I thought they created a separate company that held shares for heads of state and other such bodies.
This company was then part of the official secrets act?

Plus theres this "However even though the Bank of England is now state owned its important to note that up to 97% of the UK’s money supply is privately controlled being in the form of interest bearing loans created by the big commercial banks."

[murraypaul]

Plus theres this "However even though the Bank of England is now state owned its important to note that up to 97% of the UK’s money supply is privately controlled being in the form of interest bearing loans created by the big commercial banks."

That is just the reality of modern finance, and I would imagine is true of most developed countries.