BTCC and Chinese exchanges haven't reference value now

empoweoqwj

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Quote from: Nagle on December 18, 2013, 10:10:14 PM

Quote from: woutersteven on December 18, 2013, 03:34:42 AM

I can confirm this, the message on their dashboard says:

"Dear BTC China valued customer: Due to new government regulations, BTC China will temporarily suspend CNY deposits. BTC deposits/withdrawals and CNY withdrawals are not affected, and will continue to operate in the interim. Rest assure that BTC China will continue to operate normally. Please pay attention to our notices for updates, as we find other ways to allow for CNY deposits. We deeply apologize for any inconvenience. BTC China, December 18, 2013"

That's what a Government mandated-shutdown should look like. No more deposits, but withdrawals continue until everyone gets their money back.

Compare Mt. Gox. Inbound fund transfers work fine. Outbound transfers, not so much.

But nobody shut Mt Gox down .......

But I still can't get any money out of them. Scammy ba8******

Nagle

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Quote from: woutersteven on December 18, 2013, 03:34:42 AM

I can confirm this, the message on their dashboard says:

"Dear BTC China valued customer: Due to new government regulations, BTC China will temporarily suspend CNY deposits. BTC deposits/withdrawals and CNY withdrawals are not affected, and will continue to operate in the interim. Rest assure that BTC China will continue to operate normally. Please pay attention to our notices for updates, as we find other ways to allow for CNY deposits. We deeply apologize for any inconvenience. BTC China, December 18, 2013"

That's what a Government mandated-shutdown should look like. No more deposits, but withdrawals continue until everyone gets their money back.

Compare Mt. Gox. Inbound fund transfers work fine. Outbound transfers, not so much.

empoweoqwj

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Quote from: tutkarz on December 18, 2013, 05:24:12 AM

Quote from: empoweoqwj on December 18, 2013, 04:48:55 AM

Quote from: tutkarz on December 18, 2013, 04:46:22 AM

Quote from: empoweoqwj on December 18, 2013, 04:32:17 AM

Quote from: tutkarz on December 18, 2013, 04:28:07 AM

They didn't killed btc they pushed it underground. I'm surprised because when I was introduced into bitcoin half year ago people was saying that it is killer money for banks and takes away power from governments. Now when china government is trying to close bitcoin because it is afraid of it, it proves that bitcoin is working as intended. The price should sky rocket and not fall. But maybe it will be the case when people realise that and will try to buy back.

Fantasy land.

Maybe, but I do hope bitcoin will blow up China gov from inside.

We all live in "hope", but another word for hope is delusion.

Like it or not, China is going to be our test ground to check how bitcoin can live under government oppression.

Thankfully there aren't many governments in the world like China. Shame the population is so large though. Huge market has just disappeared

jubalix

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Quote from: myhoho on December 18, 2013, 05:42:15 AM

The price fall is ridiculous. I mean, if we suppose that people are smart enough to understand it but its never true. Lack of liquidity on chinese exchanges actually means that deposits are more valuable... Thus, price should grow. They just need some time to understand that simple thing.

um the price fall in April was worse in percentage terms, and much quicker

Bitcoinpro

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Quote from: woutersteven on December 18, 2013, 03:34:42 AM

I can confirm this, the message on their dashboard says:

"Dear BTC China valued customer: Due to new government regulations, BTC China will temporarily suspend CNY deposits. BTC deposits/withdrawals and CNY withdrawals are not affected, and will continue to operate in the interim. Rest assure that BTC China will continue to operate normally. Please pay attention to our notices for updates, as we find other ways to allow for CNY deposits. We deeply apologize for any inconvenience. BTC China, December 18, 2013"

This is kind of Cave Man stuff coming from the home of Semi Conductor Manufacturing,

and China's economy is going to get ransacked again Shocked

defiantly a cyclical thing.

myhoho

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The price fall is ridiculous. I mean, if we suppose that people are smart enough to understand it but its never true. Lack of liquidity on chinese exchanges actually means that deposits are more valuable... Thus, price should grow. They just need some time to understand that simple thing.

tutkarz

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Quote from: empoweoqwj on December 18, 2013, 04:48:55 AM

Quote from: tutkarz on December 18, 2013, 04:46:22 AM

Quote from: empoweoqwj on December 18, 2013, 04:32:17 AM

Quote from: tutkarz on December 18, 2013, 04:28:07 AM

They didn't killed btc they pushed it underground. I'm surprised because when I was introduced into bitcoin half year ago people was saying that it is killer money for banks and takes away power from governments. Now when china government is trying to close bitcoin because it is afraid of it, it proves that bitcoin is working as intended. The price should sky rocket and not fall. But maybe it will be the case when people realise that and will try to buy back.

Fantasy land.

Maybe, but I do hope bitcoin will blow up China gov from inside.

We all live in "hope", but another word for hope is delusion.

Like it or not, China is going to be our test ground to check how bitcoin can live under government oppression.

empoweoqwj

hero member

Activity: 518

Merit: 500

Quote from: tutkarz on December 18, 2013, 04:46:22 AM

Quote from: empoweoqwj on December 18, 2013, 04:32:17 AM

Quote from: tutkarz on December 18, 2013, 04:28:07 AM

They didn't killed btc they pushed it underground. I'm surprised because when I was introduced into bitcoin half year ago people was saying that it is killer money for banks and takes away power from governments. Now when china government is trying to close bitcoin because it is afraid of it, it proves that bitcoin is working as intended. The price should sky rocket and not fall. But maybe it will be the case when people realise that and will try to buy back.

Fantasy land.

Maybe, but I do hope bitcoin will blow up China gov from inside.

We all live in "hope", but another word for hope is delusion.

tutkarz

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Activity: 546

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Quote from: empoweoqwj on December 18, 2013, 04:32:17 AM

Quote from: tutkarz on December 18, 2013, 04:28:07 AM

They didn't killed btc they pushed it underground. I'm surprised because when I was introduced into bitcoin half year ago people was saying that it is killer money for banks and takes away power from governments. Now when china government is trying to close bitcoin because it is afraid of it, it proves that bitcoin is working as intended. The price should sky rocket and not fall. But maybe it will be the case when people realise that and will try to buy back.

Fantasy land.

Maybe, but I do hope bitcoin will blow up China gov from inside.

empoweoqwj

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Activity: 518

Merit: 500

Quote from: tutkarz on December 18, 2013, 04:28:07 AM

They didn't killed btc they pushed it underground. I'm surprised because when I was introduced into bitcoin half year ago people was saying that it is killer money for banks and takes away power from governments. Now when china government is trying to close bitcoin because it is afraid of it, it proves that bitcoin is working as intended. The price should sky rocket and not fall. But maybe it will be the case when people realise that and will try to buy back.

Fantasy land.

Paladin69

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Quote from: tutkarz on December 18, 2013, 04:28:07 AM

They didn't killed btc they pushed it underground. I'm surprised because when I was introduced into bitcoin half year ago people was saying that it is killer money for banks and takes away power from governments. Now when china government is trying to close bitcoin because it is afraid of it, it proves that bitcoin is working as intended. The price should sky rocket and not fall. But maybe it will be the case when people realise that and will try to buy back.

Whether we like it or not, the underground is huge before people write that off. 50% of the black market using BTC would put it @ $150K each. This doesn't include the legitimate businesses going forward.

tutkarz

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They didn't killed btc they pushed it underground. I'm surprised because when I was introduced into bitcoin half year ago people was saying that it is killer money for banks and takes away power from governments. Now when china government is trying to close bitcoin because it is afraid of it, it proves that bitcoin is working as intended. The price should sky rocket and not fall. But maybe it will be the case when people realise that and will try to buy back.

empoweoqwj

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Activity: 518

Merit: 500

Quote from: p2pbucks on December 18, 2013, 03:42:11 AM

They wanna to kill BTC in China, so Dont bother the price on BTCC .
Hope MtGox & Bitstamp can stand at last

Err ... they *have* killed BTC in China, when the Chinese government act, they act swiftly and decisively.

p2pbucks

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Evolution is the only way to survive

Dont bother the price on BTCC .
Hope MtGox & Bitstamp can stand at last

empoweoqwj

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Quote from: woutersteven on December 18, 2013, 03:34:42 AM

I can confirm this, the message on their dashboard says:

"Dear BTC China valued customer: Due to new government regulations, BTC China will temporarily suspend CNY deposits. BTC deposits/withdrawals and CNY withdrawals are not affected, and will continue to operate in the interim. Rest assure that BTC China will continue to operate normally. Please pay attention to our notices for updates, as we find other ways to allow for CNY deposits. We deeply apologize for any inconvenience. BTC China, December 18, 2013"

No wonder the btc price is currently crashing

woutersteven

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I can confirm this, the message on their dashboard says:

"Dear BTC China valued customer: Due to new government regulations, BTC China will temporarily suspend CNY deposits. BTC deposits/withdrawals and CNY withdrawals are not affected, and will continue to operate in the interim. Rest assure that BTC China will continue to operate normally. Please pay attention to our notices for updates, as we find other ways to allow for CNY deposits. We deeply apologize for any inconvenience. BTC China, December 18, 2013"

empoweoqwj

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Activity: 518

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Quote from: p2pbucks on December 18, 2013, 02:48:50 AM

Sorry to tell you this , but now you can't deposit cash on any exchanges in China .
Deposit BTC / Withdraw BTC & Cash are fine .

You may verify this on
1.okcoin.com 's mainpage.
2.https://www.chbtc.com/news/show-289-proclamation
3.BTCC's weibo http://e.weibo.com/bitcoinchina

PBOC has banned deposit cash to exchanges from banks & third party payment in China at this moment.
So my personal suggestion is : Don't reference the price on exchange's in China such as BTCC and OKCOIN , it's no value

The Chinese experiment didn't last too long did it Wink

tclo

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Yeah let's see what happens to the price when you can sell adn take money out but you can no longer put money in to buy.

Anon136

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what if you go to the front desk of the building that houses the exchange and slap a wad of physical cash down infront of the receptionist?

p2pbucks

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Activity: 642

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Evolution is the only way to survive

Sorry to tell you this , but now you can't deposit cash on any exchanges in China .
Deposit BTC / Withdraw BTC & Cash are fine .

You may verify this on
1.okcoin.com 's mainpage.
2.https://www.chbtc.com/news/show-289-proclamation
3.BTCC's weibo http://e.weibo.com/bitcoinchina

PBOC has banned deposit cash to exchanges from banks & third party payment in China at this moment.
So my personal suggestion is : Don't reference the price on exchange's in China such as BTCC and OKCOIN , it's no value

Topic: BTCC and Chinese exchanges haven't reference value now (Read 2509 times)