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Author Topic: Almost all banks refuse to bitcoin ,maybe it will still be the investment and...  (Read 1096 times)
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May 15, 2014, 08:39:14 AM
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Almost all banks refuse to bitcoin ,maybe it will still be the investment and collection .

At the end of April ,bitcoin was suspended by almost all banks with the policy .At the beginning of May ,the Chinese bitcoin trading platform FXBTC claimed that it decided to stop running with the whelming pressure .
Actually ,central bank of China has released the notice about preventing bitcoin risk on December last year ,demanding financial and payment organizations not to develop bitcoin service .Later ,it discussed with some third-party payment organizations .<Chinese financial stability report >released on 29th April also pointed that bitcoin is not the currency in real sense .
On 6th May ,five bitcoin trading platforms state commonly that they will take self-discipline measures to promote bitcoin development .
To the above ,the correspondent interviewed Lilin ,the founder of huobi.com .In his opinion ,bitcoin is not perfect .Bitcoin future will not replace legal currency but maybe collection and investment .

Correspondent :With the policy ,what effect does huobi.com supply ?
Lilin :All industry is affected by the policy .Without recharging way ,it’s difficult for Chinese trading platforms to develop bitcoin service in China .

Correspondent :someone says it’s the suppression from central bank of China ,how you do you think ?
Lilin :It’s not suppression ,only limit ,supervision and constraint .It’s good for central bank of China to ensure bitcoin as legal goods last year .At present ,the policy from
mainstream countries to bitcoin is similar ,while China is more serious .

Correspondent :The Chinese bitcoin trading platform FXBTC claimed to stop running ,how do you think ?
Lilin :It’s true that FXBTC stopped running ,but whether it depends on central bank of China is unknown .In fact ,with the competition ,there must be some bitcoin trading places closing .

Correspondent :Being stolen about several hunred million dollars bitcoin ,Mt.Gox went bankruptcy at the end of February .
Lilin :It affects clients ’s confidence directly and the opinion attitude toward bitcoin from different governments .The governments may believe that bitcoin trading risk is high .However ,it educates not only investors but also bitcoin trading platforms .Later ,huobi.com and other trading platforms strengthen to control risk .

Correspondent :Is Chinese bitcoin trading platforms on low ebb ?
Lilin :It’s only trading platforms but not the whole industry .The measures central bank of China take is of benefit to… bitcoin long-term development.

Correspondent :Are you worried about the banks will not provide service in a long term?
Lilin :Yes .But I believe we will have the solution .

Correspondent :Why do you choose bitcoin to start your business in 2013?
Lilin :Many investors distrust some government trust after Cyprian financial crisis on March last year and hope to find out a kind of currency to replace it .Bitcoin is suitable for the condition .

Correspondent :What’s trend ?
Lilin :The present currency system is imperfect .For example ,the international payment currency –dollar –its cost is quite high .
Along with trading cost ,there is still trust risk .In spite of America ,it still has trust risk .

Correspondent :Do you think bitcoin is perfect ?
Lilin :bitcoin is not perfect .It lacks central organization ,central banks ,trust support and so on .However ,bitcoin provides a possible solution for future international currency .

Correspondent :Central bank of China don’t admit bitcoin as currency .
Lilin :Not only does central bank of China do ,but other mainstream countries also don’t admit bitcoin as currency ,whether America or Germany .

Correspondent :Therefore ,do you think bitcoin will be legal currency or global currency ?
Lilin :bitcoin doesn’t have the ability to replace legal currency to become global currency .But it’s a Standard investment .

Correspondent :Where is bitcoin value ?
Lilin :There are mainly two application of bitcoin –investment or collection and payment .its value depends on its practical value .

Correspondent :will bitcoin application field be expanded ?
Lilin :With virtualization ,internetwork and globalization ,bitcoin application range will be wider .

Correspondent :How do you see bitcoin future ?
Lilin :Like internet ,most people don’t understand its agreement and principle earlier .However ,with better application ,it is accepted by the public gradually .So I believe that with bitcoin ATM ,it may be accepted by the public .


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://finance.ifeng.com/a/20140513/12321164_0.shtml


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May 15, 2014, 04:14:16 PM
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Yes, bitcoin was suspended by almost all banks with the policy in CHINA.

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May 15, 2014, 06:24:06 PM
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if all banks suspended Bitcoin how its grow in market ! its bad for Bitcoin holders ! who invest money in it Sad

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