Breaking News: China Central Bank Officially Warns against Bitcoin - page 2.

galbros

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Quote from: Mirsad on December 05, 2013, 05:25:00 AM

Quote from: rammy2k2 on December 05, 2013, 05:20:06 AM

thoste titles are so fake ... no one banned anything ... it was just a warning ...

Learn chinese and win. It's a BAN!

Just sell NOW. the bubble Chinese money will leave the bitcoin system. Price will crash hard!

Really? While I agree learning Chinese is a good idea, quit trying to scare people. From the crappy Google translation:

Quote

However, Bitcoin transaction as a commodity trading behavior on the Internet, ordinary people have the freedom to participate in the premise own risk.

So even the crappy Google translation makes clear it is not a ban on people holding bitcoins. It may be a ban on banks holding them or using them like they would RMB, but that wasn't likely to begin with.

Zangelbert Bingledack

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I call shenanigans on both of you. Ban on what exactly? Not a ban on Bitcoin. A ban on banks handling bitcoins means nothing materially at this time, because no banks in China (or anywhere in the world) handle bitcoins anyway.

Mirsad

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Bitcoin - love & hate

Quote from: rammy2k2 on December 05, 2013, 05:20:06 AM

thoste titles are so fake ... no one banned anything ... it was just a warning ...

Learn chinese and win. It's a BAN!

Just sell NOW. the bubble Chinese money will leave the bitcoin system. Price will crash hard!

GigaCoin

sr. member

Activity: 308

Merit: 251

Giga

Quote from: rammy2k2 on December 05, 2013, 05:20:06 AM

thoste titles are so fake ... no one banned anything ... it was just a warning ...

i asked a chinese friend and it seems like an outright ban based on proper translation, let me know if it's not correct! so i can update the post

rammy2k2

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thoste titles are so fake ... no one banned anything ... it was just a warning ...

GigaCoin

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Giga

Quote from: piramida on December 05, 2013, 05:15:39 AM

Quote from: GigaCoin on December 05, 2013, 05:03:59 AM

This might mean that people in china can't cash out their coins which is causing the panic

Makes exactly zero sense to sell coins if you can't cash them out, does not it? Would make sense to *buy* coins and get them to external exchanges and cash out there, if that would've been the case. Looks like just another one of the herd running panics, good thing.

Yep you're right but they probably wanna cash out now before it comes officially into law one can assume.

piramida

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Borsche

Quote from: GigaCoin on December 05, 2013, 05:18:01 AM

Just saw $870 on Gox, feels like forever since i saw that figure Shocked

But seems to be holding at a strong resistance of $900

the last support was 850. so it will hold for a while. if panic does not stop, hello 400

GigaCoin

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Giga

Just saw $870 on Gox, feels like forever since i saw that figure Shocked

But seems to be holding at a strong resistance of $900

Shak

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so, china forbid banks to use bitcoin as a currency

well, did any bank use bitcoin yet? hm...

piramida

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Borsche

Quote from: GigaCoin on December 05, 2013, 05:03:59 AM

This might mean that people in china can't cash out their coins which is causing the panic

Makes exactly zero sense to sell coins if you can't cash them out, does not it? Would make sense to *buy* coins and get them to external exchanges and cash out there, if that would've been the case. Looks like just another one of the herd running panics, good thing.

wobber

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I never trusted anyone that goes full in the water without dipping their toe first. China did this with bitcoin, they went fanatic and all. If their destiny is to sell, then SELL (to me and my fellow friends on this forum)

Kluge

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Whew. Thanks for warning. Almost missed this. Have a really light-colored ticker I can't see well. BTCBTCBTC

Mirsad

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Bitcoin - love & hate

Hahah nice Grin

Moar panic selling please.

GigaCoin

sr. member

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Giga

Markets are hit hard downwards, looks like this news is pretty big in China. Not looking good Undecided

Transalations confirm that it is not just a warning, but a "BAN" .

This might mean that people in china can't cash out their coins which is causing the panic

im3w1l

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Activity: 280

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But they aren't objecting to the use as currency? Only to using the word currency?

Saying that financial institutions can't handle transactions will probably more act to deter speculation then buying/selling of goods using BTC.

NamelessOne

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Quote from: pokerman on December 05, 2013, 04:42:49 AM

Saying that bitcoins can not be used as currency completely destroys the intrinsic value of bitcoin.

The network and the ability to send money is a huge part of the value, it isn't required for the whole planet to use it as a currency for the bitcoin network to have large value.

seanneko

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Quote from: pokerman on December 05, 2013, 04:42:49 AM

Saying that bitcoins can not be used as currency completely destroys the intrinsic value of bitcoin.

Do you know what the word intrinsic means?

That's a rhetoric question.

pokerman

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Saying that bitcoins can not be used as currency completely destroys the intrinsic value of bitcoin.

600watt

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if you put "china", "bitcoin", and "ban" into a reuters press release, this is what you get.

seanneko

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Quote from: EuroTrash on December 05, 2013, 04:36:20 AM

my reaction, in order:

1: ouch, this hurts Shocked

2: cheap chinese coins coming...
3: this will be the biggest tree shake ever
4: oh shit, what if the chinese really drag the market down underground?

5: Carry on, nothing more to see here

Topic: Breaking News: China Central Bank Officially Warns against Bitcoin - page 2. (Read 5213 times)