This really could start a panic if misinterpreted. I think the Chinese are still learning how to adopt BTC. Chinese TV is government run and they approved the whole Bitcoin / Baidu thing publicly, which caused the surge in Chinese buyers at BTC exchanges and large increase in BTC value the last few weeks. When the PBOC stated that BTC is too volatile to be currently accepted as a currency they were more or less stating that they would consider it if it was more stable. Stability comes with volume and time. The Chinese might also be looking for a way to regulate / tax it, and it's hard for them to take a percentage of a currency without officially accepting that currency or having a stable exchange rate so that their tax related percentage values make sense.
More integration will stabilize the system plain and simple, and the fact that both Canada and USA have USD/CAD -> BTC ATM markets developing, is sure to bring some stability and trust to the table. It's just a matter of time before China readopts the coin I think.
Topic: BTC China will be closed. All Bitcoin chinese exchangers will be closed. - page 3. (Read 10054 times)
December 19, 2013, 03:25:13 PM
December 19, 2013, 02:54:16 PM
Why would they go with ripple when Litecoin can do exactly the same thing, while supporting a truer open sourced model? Just saying. China has explicitly discussed Bitcoin as a threat to the RMB (Chinese Yuan), not about LTC. LTC could potentially be an open portal to bitcoin.
You can not buy Litecoins with Yuan... You can buy Litecoins with another cryptocurrency only...
Yes you can.
See this link with screenshots: http://www.reddit.com/r/Bitcoin/comments/1t8j7c/proof_that_btc38_takes_cny_for_btcltcxrp_etc/
tl;dr: North american guy does it successfully.
December 19, 2013, 01:28:48 PM
Situation is very unclear. I would like to see something official regarding btc38, confirming that this is only a DDOS happening. They apparently have been allowing CNY deposits and accordingly, have had somewhat of a spotlight on them.
December 19, 2013, 12:19:39 PM
China needs to piss off. Really hurting their own people with this.
unless some well-connected youth used this pullback to jump in cheaply... still there will be ways around restrictions if enough high party ranks are privately diversifying into BTC.
Also agree with the view, although China can't trigger rallys via exchanges for now, suddenly 30% of global BTC trading supply turned into long term holders. This should limit downswings going forward! Also interesting that when Western people saw 500$ prices, many were worried about not having chunks of fiat deposited with exchanges. only after 1-2 days transfer time the bids came back in and more reasonable levels ensued.
December 19, 2013, 05:30:18 AM
China needs to piss off. Really hurting their own people with this.
December 19, 2013, 01:58:24 AM
China is not an early adopter.. unless you mean that it's still early enough that any country can become an early adopter still.. I suppose that could be true... but two years ago China (the state) had virtually nothing at all to do with Bitcoin. In fact, up until just a couple months ago the Chinese government had never mentioned the word Bitcoin publicly. Not only were they not early adopters, they are still not current adopters.
December 19, 2013, 12:16:18 AM
Never mind.
We will have p2p exchange very soon.
We will have p2p exchange very soon.
If p2p exchanges are your reason for not worrying then excuse me but i 'll start worrying...
December 18, 2013, 11:35:24 PM
Prices will definitely rise again. China Exchange operators will find ways around their limitations, and Bitcoin price seems to want to Rally above 500. Might be a good time to snap up some cheap coins!
December 18, 2013, 11:23:05 PM
This was the biggest price manipulation in the bitcoin history caused by the Chinese regime.
Let's fight back:
See:
https://bitcointalksearch.org/topic/open-letter-to-all-bitcoin-traders-and-exchanges-376423
Please stop spreading your nonsense. Most Chinese people suffered from this more than you. Let's fight back:
See:
https://bitcointalksearch.org/topic/open-letter-to-all-bitcoin-traders-and-exchanges-376423
December 18, 2013, 06:50:20 PM
This was the biggest price manipulation in the bitcoin history caused by the Chinese regime.
Let's fight back:
See:
https://bitcointalksearch.org/topic/open-letter-to-all-bitcoin-traders-and-exchanges-376423
Let's fight back:
See:
https://bitcointalksearch.org/topic/open-letter-to-all-bitcoin-traders-and-exchanges-376423
December 18, 2013, 06:08:51 PM
Prices will rise once again.
December 18, 2013, 05:53:07 PM
We will have p2p exchange very soon.
I doubt p2p exchange can work, or I dont understand how p2p exchange could work
December 18, 2013, 05:30:09 PM
Why would they go with ripple when Litecoin can do exactly the same thing, while supporting a truer open sourced model? Just saying. China has explicitly discussed Bitcoin as a threat to the RMB (Chinese Yuan), not about LTC. LTC could potentially be an open portal to bitcoin.
You can not buy Litecoins with Yuan... You can buy Litecoins with another cryptocurrency only...
you can, by okcoin etc, although people no longer trust okcoin
December 18, 2013, 05:23:53 PM
What ways are there left for chinese to buy cryptocoins now?
1. private sellers
2. see if there are gateways to ripple which were not banned yet.
(anyone senses if ripple will have the status of "exchange" or perhaps different status in China)
3. wait until government owned crypto exchange is founded
4. open up foreign bank accounts and buy on foreign exchanges
5. (illegaly?) accept BTC payments from abroad
any feedback appreciated!
Why would they go with ripple when Litecoin can do exactly the same thing, while supporting a truer open sourced model? Just saying. China has explicitly discussed Bitcoin as a threat to the RMB (Chinese Yuan), not about LTC. LTC could potentially be an open portal to bitcoin.
no, in the latest "message", all cryptocurrency are controlled.
December 18, 2013, 05:20:38 PM
Why would they go with ripple when Litecoin can do exactly the same thing, while supporting a truer open sourced model? Just saying. China has explicitly discussed Bitcoin as a threat to the RMB (Chinese Yuan), not about LTC. LTC could potentially be an open portal to bitcoin.
You can not buy Litecoins with Yuan... You can buy Litecoins with another cryptocurrency only...
December 18, 2013, 05:15:40 PM
What ways are there left for chinese to buy cryptocoins now?
1. private sellers
2. see if there are gateways to ripple which were not banned yet.
(anyone senses if ripple will have the status of "exchange" or perhaps different status in China)
3. wait until government owned crypto exchange is founded
4. open up foreign bank accounts and buy on foreign exchanges
5. (illegaly?) accept BTC payments from abroad
any feedback appreciated!
Why would they go with ripple when Litecoin can do exactly the same thing, while supporting a truer open sourced model? Just saying. China has explicitly discussed Bitcoin as a threat to the RMB (Chinese Yuan), not about LTC. LTC could potentially be an open portal to bitcoin.
December 18, 2013, 01:09:12 PM
What ways are there left for chinese to buy cryptocoins now?
1. private sellers
2. see if there are gateways to ripple which were not banned yet.
(anyone senses if ripple will have the status of "exchange" or perhaps different status in China)
3. wait until government owned crypto exchange is founded
4. open up foreign bank accounts and buy on foreign exchanges
5. (illegaly?) accept BTC payments from abroad
any feedback appreciated!
December 18, 2013, 12:44:52 PM
What ways are there left for chinese to buy cryptocoins now?
Localbitcoins.
Or last chance to buy cheap Bitcoins with money left on China exchanges
December 18, 2013, 12:40:35 PM
What ways are there left for chinese to buy cryptocoins now?
December 18, 2013, 12:23:55 PM
i think everyone just needs to calm down, while a few countries or banks may ban BTC, its not going to get banned worldwide or made illigal
The main central banks already warned agaist Bitcoin - last week
French central bank warns over bitcoin risks
http://www.reuters.com/article/2013/12/05/us-france-bitcoin-idUSBRE9B40IF20131205
Australia and New Zealand warns against Bitcoin- last week
Thailand already banned Bitcoin 6 months ago
USA- you cannot deal with Bitcoin beacause the banks would close your bank account.
China already banned businesses to exchange(sell and buy for real money ) Bitcoin yesterday
These are facts.
This is twice now you've lied about the US status of BTC. There is at least one US based legal BTC exhange. It offers payment via ACH, wire transfer, and US Postal Service money order.
https://campbx.com/
Isn't Cryptsy also US based? I believe they were. That's another one added to the list. Coinbase also works too, and I think they are as well.
Many, many people are having problems with CampBX, including me. They say it's due to being short staffed but there have been so many delays I fear it could have something to do with the authorities, or them trying to comply with the authorities' requests.
Ouch, that sucks. What kind of delays, and how long are we talking?
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