Bitcoins have been quite around since some time.. And as such , people are shifting to exchanging their money with bitcoins.
Now, in the world.. Generally people use bank deposits and consider it convenient. As such, acceptance of bank deposits by china BTC exchange will make it easier for people for exchanging as fiat currencies required physical meeting.. Whereas deposits in bank Can now be done from home..(though in some places you may need to go to bank). Now, so those people who are escaping BTC because of exchanging problems don't need to worry now.
Topic: China BTC Exchanges now accepting direct bank deposits! HUGE (Read 2717 times)
It's not about that. It's about that the banks can block the accounts anytime if the ban is still enforced. Would send money to a company like that when you have better alternatives?
It's very risky. You lose the money anytime with BTC China.
It's very risky. You lose the money anytime with BTC China.
The banks have never blocked withdrawal of RMB only deposits so I'd be fairly confident that even if RMB deposits disappear again the withdrawals will not.
What banks are they using for direct deposits?
Bank of China, Agricultural Bank of China, Industrial and Commercial Bank of China, China Construction Bank, Minsheng Bank, Bank of Beijing, SPD Bank and several others.
(so the major four plus a number of the secondary banks)
and the accounts are open in the BTC china's name? I mean, are they using their main company name or are they using like XXXX company in order to hide the real means of transactions they get?
It's not about that. It's about that the banks can block the accounts anytime if the ban is still enforced. Would send money to a company like that when you have better alternatives?
It's very risky. You lose the money anytime with BTC China.
What banks are they using for direct deposits?
Bank of China, Agricultural Bank of China, Industrial and Commercial Bank of China, China Construction Bank, Minsheng Bank, Bank of Beijing, SPD Bank and several others.
(so the major four plus a number of the secondary banks)
and the accounts are open in the BTC china's name? I mean, are they using their main company name or are they using like XXXX company in order to hide the real means of transactions they get?
and the accounts are open in the BTC china's name? I mean, are they using their main company name or are they using like XXXX company in order to hide the real means of transactions they get?
I am pretty sure it is in their name although I'm not sure exactly how to check that (as I don't think that bank account records you can see as a customer actually show that).
What banks are they using for direct deposits?
Bank of China, Agricultural Bank of China, Industrial and Commercial Bank of China, China Construction Bank, Minsheng Bank, Bank of Beijing, SPD Bank and several others.
(so the major four plus a number of the secondary banks)
and the accounts are open in the BTC china's name? I mean, are they using their main company name or are they using like XXXX company in order to hide the real means of transactions they get?
I still don't know how that is possible with Chinese restrictions on financial institutions preventing them from dealing with bitcoin.
The way things work in China is often not in strict accordance with regulations (that is common for many things here).
What banks are they using for direct deposits?
Bank of China, Agricultural Bank of China, Industrial and Commercial Bank of China, China Construction Bank, Minsheng Bank, Bank of Beijing, SPD Bank and several others.
(so the major four plus a number of the secondary banks)
This might be the reason for the rise of BTC atm?
If that was indeed the one of the causes of last week bitcoin price rise then it was rather short lived and insignificant in the long run.I still don't know how that is possible with Chinese restrictions on financial institutions preventing them from dealing with bitcoin.
China banned any financial institution(banks and so on) to deal with companies who are dealing with Bitcoin.
Yet you are able to deposit funds from a bank account directly to BTCC now (has been the case since at least mid October and you can use any of several of the major banks).
There has been no official announcement from the PBOC about this so I guess they are watching and waiting to decide whether or not to make such an announcement (makes it very easy for them to stop it again any time they wish to for now).
In regards to the tx volume any exchange can fake it regardless of fees (if they are paying the fees to themselves) so actually I think it is more honest to have no fees and simply let people analyse the trades (which is what BTCC does).
Hi CIYAM,
What banks are they using for direct deposits?
China banned any financial institution(banks and so on) to deal with companies who are dealing with Bitcoin.
Yet you are able to deposit funds from a bank account directly to BTCC now (has been the case since at least mid October and you can use any of several of the major banks).
There has been no official announcement from the PBOC about this so I guess they are watching and waiting to decide whether or not to make such an announcement (makes it very easy for them to stop it again any time they wish to for now).
In regards to the tx volume any exchange can fake it regardless of fees (if they are paying the fees to themselves) so actually I think it is more honest to have no fees and simply let people analyse the trades (which is what BTCC does).
Any comments from inside China on this? Is the PBC going to crack down?
That is a good question. I do not see the news reported in media, just from this forum. Very strange. If true, it is very big news.
No, it's not a news. BTCC do not have too many real clients(don't believe their trading platform because they have many bots who are trading with fake transactions) lately and they launched this news(propaganda).
China banned any financial institution(banks and so on) to deal with companies who are dealing with Bitcoin.
Any comments from inside China on this? Is the PBC going to crack down?
That is a good question. I do not see the news reported in media, just from this forum. Very strange. If true, it is very big news.
Any comments from inside China on this? Is the PBC going to crack down?
If this is real, I am quite sure the Chinese government will think of ways to prevent the money to flow in/out China easily.
i do agree with you this is just a news and inside the government is also accepting the bitcoin potential and chinese after dealing with gold and silver now they have turned to play with bitcoin. and for the past few days lot of good new are inputing regarding bitcoins, hope this bull runs for some more time and we can see the Bitcoin price above $1000
If this is real, I am quite sure the Chinese government will think of ways to prevent the money to flow in/out China easily.
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Price rose, because it was expected it will. It has to do it sooner or latter. I dont understand why people put questions why. There was milion good news in last 2 years but price was going down or was steady.
Now even if there are only bad news, price will go up fro some time.
Now even if there are only bad news, price will go up fro some time.
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The price rose by almost $100 in less than nine hours today. That's got to be due to the enabling of direct Chinese bank deposits. I've never seen it rise so fast before. There are other reasons for the rise, but I think the biggest reason is the Chinese bank deposits.
CoinBase + USAA the pilot was initially rolled out to USAA employees in September.BitFury secret Block Chain Summit in UEA in October.
Bitcoin Tracker EUR, available through Nasdaq Nordic on October,which are exchange-traded notes (ETNs)
Gemini exchange
Money 20/20
WebSummit
etc...
no vat in europe for btc even bigger news
plus last of silk road coins auctioned off omorrow, hopefully into strong hands considering hoops they have to jump through with fbi to be able to bid
plus they will be people with lots of money, as you have to send money in advance
most prob institutional investors, funds etc
not trolls lol
Direct bank deposit is the most important reason for the recent rise. It implies that the Chinese authority allow the banks to be involved in bitcoin related money transfer. It is a kind of legaliztion of bitcoin in China.
Quote
Price rose, because it was expected it will. It has to do it sooner or latter. I dont understand why people put questions why. There was milion good news in last 2 years but price was going down or was steady.
Now even if there are only bad news, price will go up fro some time.
Now even if there are only bad news, price will go up fro some time.
Quote
The price rose by almost $100 in less than nine hours today. That's got to be due to the enabling of direct Chinese bank deposits. I've never seen it rise so fast before. There are other reasons for the rise, but I think the biggest reason is the Chinese bank deposits.
CoinBase + USAA the pilot was initially rolled out to USAA employees in September.BitFury secret Block Chain Summit in UEA in October.
Bitcoin Tracker EUR, available through Nasdaq Nordic on October,which are exchange-traded notes (ETNs)
Gemini exchange
Money 20/20
WebSummit
etc...
This is just proof for me that more people need a easy way to purchase Bitcoin, and the current on ramp into BTC is too difficult. Yes there are other pushing factors behind
this, but direct bank deposits makes this so much easier. There are many barrier to entry in some countries and we would have seen much more of these, if we could remove
these barriers. Make it easy, and they will come.
this, but direct bank deposits makes this so much easier. There are many barrier to entry in some countries and we would have seen much more of these, if we could remove
these barriers. Make it easy, and they will come.
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