Author

Topic: China Bitcoin Situation (Read 693 times)

legendary
Activity: 1232
Merit: 1195
January 11, 2014, 07:33:08 AM
#13
Also, chinese people are still allowed to buy bitcoins on the exchanges. What is not allowed is to transfer money directly from a bank account. BTC China still accept direct money deposit at the Shanghai location.

I think they're getting around this buy buying vouchers for cash then redeeming the vouchers on the site thus bypassing the money transfer restrictions.
legendary
Activity: 980
Merit: 1004
January 11, 2014, 06:48:55 AM
#12
My prediction is that the price will go down and up. When the Chinese government finds out masses of people have been trading illegally on Huobi they are probably going to do something or not do something. If they decide to do something this may make the price go down and then up when they find another way to buy the bitcoins.
newbie
Activity: 29
Merit: 0
January 11, 2014, 12:09:41 AM
#11
Also, chinese people are still allowed to buy bitcoins on the exchanges. What is not allowed is to transfer money directly from a bank account. BTC China still accept direct money deposit at the Shanghai location.
newbie
Activity: 29
Merit: 0
January 10, 2014, 11:59:10 PM
#10
What recently happened is that Taobao, has banned the sale of everything related to Bitcoin from its website. Taobao is a marketplace where sellers sell all kinds of stuff, including bitcoin voucher to be redeemed on BTCChina, the largest exchange in China. The decision will be effective on January 14th. I have confirmed with some sellers on taobao. I have bought some vouchers this week to quickly move my chinese RMB to bitcoins.

The official position of the chinese governement is that they are considering Bitcoins as a commodity and not a currency, therefore, banks are not allowed to participate in the selling of this commodity. No product sold in china can now be priced in bitcoin as it is not an official currency. The chinese governement ruling is to be expected to protect the country against money leaving the country.

The last announcement dropped the price of BTC but not as much as previously (before Christmas) and thee price recovered nicely. I strongly beleive bitcoin would recover even if China was to ban bitcoin entirely, which is hard to imagine.

nirom
full member
Activity: 236
Merit: 100
January 10, 2014, 10:02:36 PM
#9
you can buy and sell BTc in china.
newbie
Activity: 11
Merit: 0
January 10, 2014, 04:53:22 PM
#8
They are able, if the chinese buy the coin private from an other people
newbie
Activity: 58
Merit: 0
January 10, 2014, 04:33:19 PM
#7


I'm not sure they're banning Bitcoin, but maybe just the exchanges.
[/quote]

Yes i know, but to what extent, will Chinese still be able to trade and withdraw fiat or no?
legendary
Activity: 1232
Merit: 1195
January 10, 2014, 04:21:17 PM
#6
Any thoughts about China Bitcoin regulations and bans, does anybody have any info about what exactly is happening there, prediction for next 30 days, how it will affect the price?

The panic sellers affect the price not China regulations lol.

Yes of course, but China is baning BTC and BTC related products everywhere, i've heard something about a deadline at the end of this month but i can't find any new info about that, maybe here somebody knows something more? Chinese do own a significant anount of BTC BTW.

I'm not sure they're banning Bitcoin, but maybe just the exchanges.
global moderator
Activity: 3850
Merit: 2643
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January 10, 2014, 04:20:19 PM
#5
Any thoughts about China Bitcoin regulations and bans, does anybody have any info about what exactly is happening there, prediction for next 30 days, how it will affect the price?

Nobody can predict the markets even one day from now never mind 30 days. Any guessing is pure speculation.
newbie
Activity: 58
Merit: 0
January 10, 2014, 04:16:26 PM
#4
Any thoughts about China Bitcoin regulations and bans, does anybody have any info about what exactly is happening there, prediction for next 30 days, how it will affect the price?

The panic sellers affect the price not China regulations lol.

Yes of course, but China is baning BTC and BTC related products everywhere, i've heard something about a deadline at the end of this month but i can't find any new info about that, maybe here somebody knows something more? Chinese do own a significant anount of BTC BTW.
legendary
Activity: 1806
Merit: 1521
January 10, 2014, 04:08:56 PM
#3
Sure, it might drop from some people panicking, however it shouldn't have an impact on the actual valuation of BTC!
legendary
Activity: 1232
Merit: 1195
January 10, 2014, 04:07:16 PM
#2
Any thoughts about China Bitcoin regulations and bans, does anybody have any info about what exactly is happening there, prediction for next 30 days, how it will affect the price?

The panic sellers affect the price not China regulations lol.
newbie
Activity: 58
Merit: 0
January 10, 2014, 04:04:48 PM
#1
Any thoughts about China Bitcoin regulations and bans, does anybody have any info about what exactly is happening there, prediction for next 30 days, how it will affect the price?
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