BREAKING NEWS: Bobby Lee Confirms Bitcoin China Ban, It's finally Happened - page 4.

Bit_Happy

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A Great Time to Start Something!

Quote from: rocks on April 01, 2014, 04:02:08 PM

From the article:

"One of the people familiar with the latest directive said that the central bank does not intend to ban bitcoin trading in China, and said the move is to "enforce what was already said in the December document." That document had said bitcoin is not a currency with "real meaning" and does not have the same legal status as a currency, but that the public is free to buy and sell bitcoin online provided that they accept the risk."

Bitcoin is not banned in China. China is now enforcing rules they put in place that say banks and similar institutions can not offer bitcoin accounts or transact in bitcoin.

The same rules apply for gold. Chinese banks can not open 'gold' accounts in the same manner as yen. Gold is a commodity and operates through that infrastructure. China is doing the same for bitcoin.

If you think bitcoin is "banned" in China, then you also would have to believe that gold is banned in China, which is absurd...

Edit: Impulse beat me to the exact same quote. That's two people that saw this right away, wonder why the OP didn't

wonder why the OP didn't...
Perhaps OP is trying to deceive people?

fonzie

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Most of the people still don´t get it. It´s not about the news that will push the market downwards, it´s about the chinese money that will leave the market in a few days.

Wyld

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Where's Proudhon? We need some newses confirmed here!

YipYip

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Quote from: cosmofly on April 01, 2014, 04:05:14 PM

Quote from: impulse on April 01, 2014, 03:59:11 PM

Actually, the article reaffirms the fact that bitcoin is NOT banned in China, but that they are clarifying their position as per the guidance they put forth in December:

Quote

One of the people familiar with the latest directive said that the central bank does not intend to ban bitcoin trading in China, and said the move is to "enforce what was already said in the December document." That document had said bitcoin is not a currency with "real meaning" and does not have the same legal status as a currency, but that the public is free to buy and sell bitcoin online provided that they accept the risk.

The denial by bitcoiners here is amazing don't be so emotional. Read the damn article, the exchanges are seeking to move overseas even, if banks are banned how do people deposit money or withdraw money, of course bitcoin trading is legal they can't stop it but if u can't get ur money in or out what's the fucking use.

Read:

"Making it clear that domestic banks cannot provide clearing, account opening and other services for bitcoin exchanges, however, leaves exchanges with significantly less room to maneuver"

Now ur comparing Gold to bitcoin, yeah a gold store can still deal with banks but a bit coin exchange can't.

I'm not gonna argue with idiots anymore, the news is real take it or leave it.

Comotard ever heard how the market will price in any REAL news

See how your NEWS has had no effect ...I lol on your failed attempts...

I am sorry you lost money just shows that you are stupid ....I know missery loves company but you are wrong once again

Chalkbot

legendary

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So we finally received a third(?) confirmation that, whether bitcoin is banned in China is still open to debate on the forums?

Just what I was waiting for!

**Hurries to buy and/or sell all the bitcoins**

megadeth

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bagholder since 2013

oh chit

YipYip

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Quote from: rocks on April 01, 2014, 04:02:08 PM

From the article:

"One of the people familiar with the latest directive said that the central bank does not intend to ban bitcoin trading in China, and said the move is to "enforce what was already said in the December document." That document had said bitcoin is not a currency with "real meaning" and does not have the same legal status as a currency, but that the public is free to buy and sell bitcoin online provided that they accept the risk."

Bitcoin is not banned in China. China is now enforcing rules they put in place that say banks and similar institutions can not offer bitcoin accounts or transact in bitcoin.

The same rules apply for gold. Chinese banks can not open 'gold' accounts in the same manner as yen. Gold is a commodity and operates through that infrastructure. China is doing the same for bitcoin.

If you think bitcoin is "banned" in China, then you also would have to believe that gold is banned in China, which is absurd...

Edit: Impulse beat me to the exact same quote. That's two people that saw this right away, wonder why the OP didn't

+1

COmOTARdOpiLiS wrong once again

escrow.ms

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Quote from: cosmofly on April 01, 2014, 04:05:14 PM

The denial by bitcoiners here is amazing don't be so emotional. Read the damn article, the exchanges are seeking to move overseas even, if banks are banned how do people deposit money or withdraw money, of course bitcoin trading is legal they can't stop it but if I can't get ur money in or out what's the fucking use.

Read:

"Making it clear that domestic banks cannot provide clearing, account opening and other services for bitcoin exchanges, however, leaves exchanges with significantly less room to maneuver"

You don't have anything else to do? I assume you have sold your coins long time ago, now why are you even here?

impulse

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The quote I provided very clearly states that it is not banned.

cosmofly

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PrimeDAO - An Adoption Engine for Open Finance

Quote from: impulse on April 01, 2014, 03:59:11 PM

Actually, the article reaffirms the fact that bitcoin is NOT banned in China, but that they are clarifying their position as per the guidance they put forth in December:

Quote

One of the people familiar with the latest directive said that the central bank does not intend to ban bitcoin trading in China, and said the move is to "enforce what was already said in the December document." That document had said bitcoin is not a currency with "real meaning" and does not have the same legal status as a currency, but that the public is free to buy and sell bitcoin online provided that they accept the risk.

The denial by bitcoiners here is amazing don't be so emotional. Read the damn article, the exchanges are seeking to move overseas even, if banks are banned how do people deposit money or withdraw money, of course bitcoin trading is legal they can't stop it but if u can't get ur money in or out what's the fucking use.

Read:

"Making it clear that domestic banks cannot provide clearing, account opening and other services for bitcoin exchanges, however, leaves exchanges with significantly less room to maneuver"

Now ur comparing Gold to bitcoin, yeah a gold store can still deal with banks but a bit coin exchange can't.

I'm not gonna argue with idiots anymore, the news is real take it or leave it.

rocks

legendary

Activity: 1153

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From the article:

"One of the people familiar with the latest directive said that the central bank does not intend to ban bitcoin trading in China, and said the move is to "enforce what was already said in the December document." That document had said bitcoin is not a currency with "real meaning" and does not have the same legal status as a currency, but that the public is free to buy and sell bitcoin online provided that they accept the risk."

Bitcoin is not banned in China. China is now enforcing rules they put in place that say banks and similar institutions can not offer bitcoin accounts or transact in bitcoin.

The same rules apply for gold. Chinese banks can not open 'gold' accounts in the same manner as yen. Gold is a commodity and operates through that infrastructure. China is doing the same for bitcoin.

If you think bitcoin is "banned" in China, then you also would have to believe that gold is banned in China, which is absurd...

Edit: Impulse beat me to the exact same quote. That's two people that saw this right away, wonder why the OP didn't

cosmofly

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PrimeDAO - An Adoption Engine for Open Finance

Quote from: escrow.ms on April 01, 2014, 03:56:01 PM

They are just posting what others are spreading. I doubt bobby lee talked to that newspaper instead of chinese or american newspaper.

what r u talking about, TheAustralia is the largest news corporation in Australia it's not just a local newspaper they have TV stations radio etc it's huge. Of course them being right beside China they have easy access for Chinese news and interviews.

impulse

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Activity: 151

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Actually, the article reaffirms the fact that bitcoin is NOT banned in China, but that they are clarifying their position as per the guidance they put forth in December:

Quote

One of the people familiar with the latest directive said that the central bank does not intend to ban bitcoin trading in China, and said the move is to "enforce what was already said in the December document." That document had said bitcoin is not a currency with "real meaning" and does not have the same legal status as a currency, but that the public is free to buy and sell bitcoin online provided that they accept the risk.

bananaControl

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Decentralize All The Things!

Getting popcorn Gotta watch this thing go down! Cheesy

escrow.ms

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They are just posting what others are spreading. I doubt bobby lee talked to that newspaper instead of chinese or american newspaper.

cosmofly

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PrimeDAO - An Adoption Engine for Open Finance

Quote from: podyx on April 01, 2014, 03:50:21 PM

He's only saying it will have a negative effect on exchanges

Wasnt this expected?? Not much will change

he talks like a businessman, you want him to say OMG WE ARE SHUTTING DOWN HELP US!!?

no, ofcourse not, he will say professional words like "negative", he doesn't want a bank run.

Read the God damn article and stop denying i've been telling you people for days that ban is real based on insider info, now i show you news that it is real and you still not convinced, amazing. Good luck with your denial strategy Cheesy

fonzie

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Quote from: podyx on April 01, 2014, 03:50:21 PM

he only says it will have a negative effect on exchanges

wasnt this expected?? everything will be like before

Just a few hundred millions less to hold up the price.

podyx

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He's only saying it will have a negative effect on exchanges

Wasnt this expected?? Not much will change

cosmofly

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PrimeDAO - An Adoption Engine for Open Finance

Quote from: fcmatt on April 01, 2014, 03:47:31 PM

Quote from: GigaCoin on April 01, 2014, 03:43:41 PM

Quote from: fcmatt on April 01, 2014, 03:42:42 PM

this being posted on april 1st may delay people taking it seriously.

the article is actually April 2nd (check timestamp), It's morning (april 2) in Australia / China region right now.

I meant this thread, on this forum.. but you are right about the webpage itself.

I am just trying to think what this means for the price. Will China want out of bitcoin until the dust settles?

OKCoin is already talking about moving overseas, it's over.

fcmatt

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Quote from: GigaCoin on April 01, 2014, 03:43:41 PM

Quote from: fcmatt on April 01, 2014, 03:42:42 PM

this being posted on april 1st may delay people taking it seriously.

the article is actually April 2nd (check timestamp), It's morning (april 2) in Australia / China region right now.

I meant this thread, on this forum.. but you are right about the webpage itself.

I am just trying to think what this means for the price. Will China want out of bitcoin until the dust settles?

---

Here is the source from the .au website.

http://online.wsj.com/news/articles/SB10001424052702304157204579475233879506454?KEYWORDS=Bitcoin&mg=reno64-wsj&url=http%3A%2F%2Fonline.wsj.com%2Farticle%2FSB10001424052702304157204579475233879506454.html%3FKEYWORDS%3DBitcoin

need login to see the whole article... but .au has it.

But the date on the original is april 1st... :-|

Anyway...

Topic: BREAKING NEWS: Bobby Lee Confirms Bitcoin China Ban, It's finally Happened - page 4. (Read 5683 times)