Chinese banks suspend Bitcoin trade

[best-miner.com]

Almost all banks suspend Bitcoin trade.Meanwhile ,Bitcoin price decreases to about 2700yuan .
From the end of April to 9th May ,almost all banks announced to suspend Bitcoin trade .The content is similar :To protect the public profit and maintain CNY legal currency status ,any organizations and individuals cant use our bank accounts in Bitcoin ,litecoin trade from now on .Once being found ,we will suspend and write off the bank accounts .
“At present ,the platform suspends the cooperation with banks completely .Investors cant use bank accounts to transfer account .”Xu Ming Xing ,the founder of okcoin said , “we will obey the rule and consider the development overseas .”

Remaks: Due to language difference, sometimes people out of China can’t know what happened in China quickly. so we are here to make effort to change little, we will translate 3-4 bitcoin news in China to English everyday to help people out of China know what happened and what people thinks about bitcoin in China, If somewhere translate not that good, pls PM us so that we can  correct it.
Source http://news.163.com/14/0512/04/9S13EA4900014AED.html

[pickering7]

just move on.

[r34tr783tr78]

This service will be very useful. It's a pain to use software translators that offer bad translations. 99% of westerns can't read a single word in chinese.

[TinyBBC]

China's exit is a good thing for the whole bitcoin world!

[DhaniBoy]

China's exit is a good thing for the whole bitcoin world!

but someone said if chinese exit, only a few pumps in btc in next months

[solimi]

Tend to be limited in order to reflect the value of their own , is not it ?

[zorofight]

I just wonder when China will really exactly determinantly ban the bitcoin.

[zetaray]

Bitcoin is a global phenomenon, not only for China. China played its part and it is time to move on. There are huge markets in other parts of the world, like Africa and South America.

[hashman]

These bank decisions have only changed the character in which RMB holders are aquiring coin. 

[sana8410]

China's exit is a good thing for the whole bitcoin world!

China has severe capital controls.Bitcoin cannot be controlled. Therefore China is cracking down on the ability of Chinese citizens and businesses to buy and trade in Bitcoin in order to prevent even the slightest possibility of evading those capital controls.

[makebitcoin]

China's exit is a good thing for the whole bitcoin world!

Please explain? Would'nt the Chinese be putting in money into Bitcoin and thus raising the value of your own bitcoin?

[r34tr783tr78]

You shouldn't take seriously what some holders write. For some of them, everything has to be good news to bitcoin. Or, at least, some think that if they write that is good, other people will believe and won't sell their bitcoins. As if anything we write here could have a serious impact on the price... ilusions...
The only thing good from the more or less banning of bitcoin in China is the end of incertitude. On the rest, if the chinese sell off part of their bitcoins this will be very bad.

[zimmah]

China's exit is a good thing for the whole bitcoin world!

China has severe capital controls.Bitcoin cannot be controlled. Therefore China is cracking down on the ability of Chinese citizens and businesses to buy and trade in Bitcoin in order to prevent even the slightest possibility of evading those capital controls.

They will find a way out, sooner or later the people around the world will realize that they are being scammed and they will try to find a way out (gold/silver/bitcoin). Any governments that will try to stop their citizens from bailing out of the local currency will quickly lose support and might even risk revolts and revolutions. On top of that people will most likely try to obtain true wealth by illegal means if necessary.

The era of banking fraud is over, a new era is upon us, for better or for worse. But I think it's for the better.

If bitcoin really catches on and become the mayor currency in the world (or gold/silver for that matter) many governments will be forced to completely transform, as there's no way they can continue to operate without their endless money printing. And they won't get away with spending money on bullshit while continuously cutting spending on important things like education and healthcare.

[tripleblock]

china is always banning bitcoin. i mean, maybe, every week.

[kiki6990]

Theese are all rumors, just rumors spreading FUD, no official news letting us know that!!

[Ron~Popeil]

The faster we all learn to ignore China's attempts to manipulate the price the better. In the mean time each round of panic creates new opportunities to get more for less fiat. 

[LiteCoinGuy]

good luck to ban it...dirty bastards.

[ivy]

good luck to ban it...dirty bastards.

+1

[zxbball]

中国政府很害怕比特币的，怕金融垄断没了

[endlesslove]

What a pity