Lets dump China before China dumps us. They are (indirectly) saying that as long as Bitcoin remain at $400-500 levels, they will allow it. Once Bitcoin goes mainstream, then they'll ban it. What sort of crazy logic is this? The Chinese government is just helping the speculators to earn money by issuing meaningless statements every now and then. Let's not play according to their tunes.
I agree, and I believe day-traders are beginning to realise their hazy regulations means nothing.
The international demand from freer countries will sort this out and make them irrelevent, they are simply reducing growth speed but won't be able to much longer (yesterday's ban announcement barely affected the price)
Also, this seems appropriate:
http://www.coindesk.com/ceo-bitcoin-officially-bans-china/"Disclaimer: This article was posted as part of CoinDesk’s April Fools’ Day coverage.
Following rumours of China’s plans to ban bank transfers to bitcoin exchanges, the CEO of Bitcoin™ has decided to ban China.
The decision was unanimously approved by Bitcoin’s shareholders, the Bitcoin Board of Directors, HaCkerz4BITZ and the Bitcoin Steering Board.
As of 8th April, bitcoin transfers to and from the Glorious People’s Republic of China will no longer by supported by the Bitcoin Network™. The decision will not affect the Republic of China (Taiwan) – unless it gets invaded in the meantime. It is unclear whether or not it will apply to Hong Kong, which is sort of part of China, but really it isn’t – you know?"
lynn_402, I didn't see that originally on April 1st, thanks for the laugh.
Agreed, The longer this drags on the less negative effect China can have.
Their days in "the lead" are over soon.
