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Nrcewker (OP)
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August 06, 2014, 09:19:40 AM |
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if it is not, why many exchanges, btchina okcion, had continued to trade in china, and ready to trade in the world. if it is, why he, Thomas Xie, LakeBTC CEO say “ A Ban Should Target Risky Products and Foul Players, Not Bitcoin Itself”? CT: Given China’s restrictive stance on cryptocurrencies, have you faced any pressure from the authorities? Has the ban on third party processors affected your operations?
TX: Not at all. The latest official policy was published on December 5 by the five central government agencies including PBOC (People's Bank of China). It's clearly stated that Bitcoin is a type of commodity that people are free to own, buy, and sell. Other than that, everything else is speculation, hearsay or rumors. We are running a legitimate business with all required government paperwork.
That being said, there are a number of flash crashes and high-risk products provided by certain local Bitcoin exchanges. If there were a ban, it should be targeting those risky products and the foul players, not Bitcoin itself. The exchanges in question promise 0% fee forever and in the mean time are promoting high-risk businesses such as margin, short trading, and P2P lending without proper risk management. For example, there's an LTC flash crash to 1 CNY from 100 CNY in seconds, thanks to shorting trading in a platform. Also from China, but the view is quite different, how do we judge it? ban or not ban? |
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Ayers
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Vave.com - Crypto Casino
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August 06, 2014, 07:03:15 PM |
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i think you can just not buy them on exchange, but i'm not sure
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scryptasicminer
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August 06, 2014, 07:18:12 PM |
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Stopping all their banking institution from offering services to bitcoin exchange and broker is essentially same as a "soft" ban.
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frankh13
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August 07, 2014, 12:16:46 AM |
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if it is not, why many exchanges, btchina okcion, had continued to trade in china, and ready to trade in the world. if it is, why he, Thomas Xie, LakeBTC CEO say “ A Ban Should Target Risky Products and Foul Players, Not Bitcoin Itself”? CT: Given China’s restrictive stance on cryptocurrencies, have you faced any pressure from the authorities? Has the ban on third party processors affected your operations?
TX: Not at all. The latest official policy was published on December 5 by the five central government agencies including PBOC (People's Bank of China). It's clearly stated that Bitcoin is a type of commodity that people are free to own, buy, and sell. Other than that, everything else is speculation, hearsay or rumors. We are running a legitimate business with all required government paperwork.
That being said, there are a number of flash crashes and high-risk products provided by certain local Bitcoin exchanges. If there were a ban, it should be targeting those risky products and the foul players, not Bitcoin itself. The exchanges in question promise 0% fee forever and in the mean time are promoting high-risk businesses such as margin, short trading, and P2P lending without proper risk management. For example, there's an LTC flash crash to 1 CNY from 100 CNY in seconds, thanks to shorting trading in a platform. Also from China, but the view is quite different, how do we judge it? ban or not ban? Do you read about Chines physical btc coin?? NO, i don't think, that it's possible. They can't ban btc. |
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sandykho47
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Knowledge its everything
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August 07, 2014, 12:03:27 PM |
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i think no, maybe they just warn all people to not use btc  if remember right, anything happen with your BTC. police won't help |
Kemampuanku Tidak semua orang memiliki dan dapat melakukannya . Tidak memakan kaum sendiri . dan mempunyai kode etik yang tidak masuk akal.
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Datcracktho
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August 07, 2014, 03:09:41 PM |
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Chinese is hard on BTC, banning means nothing.
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botany
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August 07, 2014, 06:21:00 PM |
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They just made life difficult for bitcoin companies.
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lucaspm98
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August 07, 2014, 09:01:43 PM |
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They just made life difficult for bitcoin companies.
This. It makes it more difficult, but with decentralized things like Bitcoin it will be impossible to totally 'ban' it. That's the beauty of Bitcoin. |
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TheButterZone
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RIP Mommy
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August 07, 2014, 10:04:54 PM |
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No summary executions? No ban.
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Saying that you don't trust someone because of their behavior is completely valid.
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LiteCoinUser84
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August 08, 2014, 02:29:45 AM |
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I am in Shanghai and Id say our government is more cautious than anything else. I mean access to this forum is quite liberal given we have trouble accessing YT FB and other places where open discussions can exist
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hua_hui
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August 08, 2014, 02:52:55 AM |
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They don't mean to ban BTC. They ban third party transferring processing channels and touch BTC of financial institutions. The gov is against crazy speculation. The activities in exchange is carrying on, deposit, withdrawal,trading etc.
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best-miner.com
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best-miner.com
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August 08, 2014, 03:00:28 AM |
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Until now, Chinese goverment is not banned bitcoin extrange website, like okcoin and huobi and btcchina and chinabtc.
All these website is working well, and i think is more convenient than btc-e and bitstamp. people here in China could buy bitcoin in 1 minute and sell bitcoin in 1 minute and get the Really mony in about 24 hours(mostly in 2-3 hours).
As Chinese stock market is week since 2008, so some geeks investage BTC, its convinent make here became the largest bitcoin extrange market in the World.
We hate bad news from Chinese goverment too, but at least news since this year not destroy the market here, even make people more confident as the most bad news seems gone, then what we need to afraid.
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best-miner.com, bitcoin news & bitcoin miners
2T bitcoin miners for 2099$, 34M litecoin miners for 999$,
1T bitcoin miners for 1299$, World wide free shipping with DHL in 1 day.
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Jamacn
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August 08, 2014, 04:16:10 AM |
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They don't mean to ban BTC. They ban third party transferring processing channels and touch BTC of financial institutions. The gov is against crazy speculation. The activities in exchange is carrying on, deposit, withdrawal,trading etc.
But more speculative products being released by huobi and okcoin |
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snowdropfore
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August 08, 2014, 06:29:38 AM |
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of course not，i can still buy and sell easily.
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jaberwock
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August 08, 2014, 06:36:28 AM |
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No, they just put lots of restriction about moving fiat and bitcoin and forbid it to be used like a currency.
Only country to really ban bitcoin is Ecuador.
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Radelderth
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August 08, 2014, 01:56:29 PM |
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Yes china ban bitcoin but the exchange site can easily move their company to hong kong...
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zolace
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August 08, 2014, 02:15:39 PM |
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I do trade with a chinese bitcoin trader now, he uses western union and other types of excahing services that lets him get bitcoin for yuan.
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botany
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August 08, 2014, 03:32:23 PM |
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I do trade with a chinese bitcoin trader now, he uses western union and other types of excahing services that lets him get bitcoin for yuan.
Won't the fees really kill his margins? |
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oceans
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August 09, 2014, 04:19:11 PM |
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I don't believe it is banned to be honest I believe there are just a lot of restrictions on bitcoins in China. I know a few people myself who are from China who exchange bitcoins, I don't see them being as brave if there was a total ban however I could be wrong.
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michaelwang33
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August 09, 2014, 04:50:31 PM |
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Stopping all their banking institution from offering services to bitcoin exchange and broker is essentially same as a "soft" ban.
This is essentially what China has done to bitcoin. It would he nearly impossible to ban bitcoin trade because of TOR and because BTC nodes are coming online and going offline all the time and it would be nearly impossible to keep an up to date list of them all. |
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