China BTC Exchanges now accepting direct bank deposits! HUGE - page 2.

Bitcoininspace

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Quote from: Ayle56 on November 04, 2015, 10:00:12 AM

Quote from: Febo on November 04, 2015, 09:19:05 AM

Quote from: Raimonn on November 03, 2015, 03:06:09 PM

With direct bank deposits will be easier for chinese users to buy bitcoins. But i don't think that it was a cause for the incresing on bitcoin price.

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.

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.

I think so too, until china bans bitcoins again in late december and price plummets to the ground.

I'm starting to think they are doing all of this on purpose and working with the media. Once the richest country - forever the richest, or atleast they seem to want to stay that way with bitcoins too.

Ayle56

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Quote from: Febo on November 04, 2015, 09:19:05 AM

Quote from: Raimonn on November 03, 2015, 03:06:09 PM

With direct bank deposits will be easier for chinese users to buy bitcoins. But i don't think that it was a cause for the incresing on bitcoin price.

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.

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.

the_poet

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Bitcoin accepted here

http://www.zerohedge.com/news/2015-11-04/bitcoin-soars-14-month-highs-major-exchange-eases-access-chinese

Febo

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Quote from: Raimonn on November 03, 2015, 03:06:09 PM

With direct bank deposits will be easier for chinese users to buy bitcoins. But i don't think that it was a cause for the incresing on bitcoin price.

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.

ranochigo

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Crypto Swap Exchange

Quote from: ShetKid on November 04, 2015, 08:41:19 AM

Hows this possible. I just heard in the morning that Taiwan was to declare bitcoin as illegal , so wouldn't it be illegal for any business to accept direct deposits for bitcoins ?

AFAIK, Taiwan is not a part of China. Even if Taiwan says Bitcoin is illegal, it is still legal in China. Furthermore, BTCC isn't based in Taiwan.

ShetKid

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Hows this possible. I just heard in the morning that Taiwan was to declare bitcoin as illegal , so wouldn't it be illegal for any business to accept direct deposits for bitcoins ?

Mickeyb

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Move On !!!!!!

Quote from: Coin Republic on November 04, 2015, 08:32:32 AM

Quote from: mayax on November 04, 2015, 06:15:16 AM

BTCC is making a big mistake. The China gov has banned all the financial institutions to work with Bitcoin.
The banking institutions and employees are banned from engaging in bitcoin business through banking, as well as servicing or doing business with the bitcoin industry. This ban is since 2014 and it's nothing changed since then.

So, how BTCC is doing that? Of course, by doing it illegally. It is a desperate gesture because they did not have clients lately.

http://tech.sina.com.cn/it/2013-12-17/01139011174.shtml#483253-tsina-1-18627-1cf60a7c37a7bc296a2ba7aba0120190

One single complaint to their banks and BTCC's accounts are closed. The people should be very stupid to deposit their funds with a such exchanger.

That could be just BTCC. I do not understand how BTCC can be so brave to accept bank transfer without permission from banks, not just a single bank.

Yes, this doesn't make much sense to me. I don't see them going against their government orders. I mean, you don't do this in European countries and not in communist China. Or am I wrong, I don't know?

What I find even stranger is that they have written that they will stop accepting deposits through agents from 15th of November, so I guess they are staying only with direct deposits after this date.

Coin Republic

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Quote from: mayax on November 04, 2015, 06:15:16 AM

BTCC is making a big mistake. The China gov has banned all the financial institutions to work with Bitcoin.
The banking institutions and employees are banned from engaging in bitcoin business through banking, as well as servicing or doing business with the bitcoin industry. This ban is since 2014 and it's nothing changed since then.

So, how BTCC is doing that? Of course, by doing it illegally. It is a desperate gesture because they did not have clients lately.

http://tech.sina.com.cn/it/2013-12-17/01139011174.shtml#483253-tsina-1-18627-1cf60a7c37a7bc296a2ba7aba0120190

One single complaint to their banks and BTCC's accounts are closed. The people should be very stupid to deposit their funds with a such exchanger.

That could be just BTCC. I do not understand how BTCC can be so brave to accept bank transfer without permission from banks, not just a single bank.

mayax

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BTCC is making a big mistake. The China gov has banned all the financial institutions to work with Bitcoin.
The banking institutions and employees are banned from engaging in bitcoin business through banking, as well as servicing or doing business with the bitcoin industry. This ban is since 2014 and it's nothing changed since then.

So, how BTCC is doing that? Of course, by doing it illegally. It is a desperate gesture because they did not have clients lately.

http://tech.sina.com.cn/it/2013-12-17/01139011174.shtml#483253-tsina-1-18627-1cf60a7c37a7bc296a2ba7aba0120190

One single complaint to their banks and BTCC's accounts are closed. The people should be very stupid to deposit their funds with a such exchanger.

newbitcoins

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Quote from: Nagle on November 03, 2015, 05:14:56 PM

If that's real, it's huge. It means there's now a easy way to turn yuan into dollars or euros via Bitcoin.

There should be heavy selling on USD and EU exchanges to compensate for the buying on the yuan side. Is there?

This could be real. I would like it to be true. The link is still there:

https://www.btcc.com/news/article/btcc-now-accepting-direct-bank-deposits

Bitcoininspace

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Quote from: Nagle on November 03, 2015, 05:14:56 PM

If that's real, it's huge. It means there's now a easy way to turn yuan into dollars or euros via Bitcoin.

There should be heavy selling on USD and EU exchanges to compensate for the buying on the yuan side. Is there?

You should find this site interesting:

http://fiatleak.com/

Nagle

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If that's real, it's huge. It means there's now a easy way to turn yuan into dollars or euros via Bitcoin.

There should be heavy selling on USD and EU exchanges to compensate for the buying on the yuan side. Is there?

Bitcoininspace

sr. member

Activity: 574

Merit: 250

Quote from: SFR10 on November 03, 2015, 02:39:39 PM

A bold move right there (Good for the ones with chinese bank accounts), not sure why there's all the good things lately happening in particular to bitcoin and yet there are some bad ones as well all at the same time, it's like somehow each try to cancel one another even though in different departments but the good ones out weight the bad ones, yet kinda strange

I like how the end of your sentence can be compared to fiat or cash. It's like they don't care that CASH has been used as ransom money for centuries, yet cash is so simple that the good things outweigh the bad things that happens with it. (in case your bad news was referring to the kidnapping) yet when something like that happens and the kidnapper wants bitcoins as payment; "OMFG BITCOIN U CREATION OF SATAN NAKAMOTO, WE WILL BAN YOU SO HARD".

Get with the times people, your "cash" is old, future is here and it wants it's currency to free the people. If you can't beat them, join em'.

Mickeyb

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Move On !!!!!!

Quote from: Guido on November 03, 2015, 04:28:29 PM

Quote from: Mickeyb on November 03, 2015, 04:16:51 PM

This is a great news and all and I salute this very much! But am I the only one seeing something weird here?

If the Chinese capital controls are the main reason of current run as everyone is reporting today, why would they allow bank deposits directly then and in this way encourage the outflow of capital out of their country?

agreed
is a paradox

therefore we could see an ATM in many thousands, to then see china come in and mega tighten things again
unless the chinese gov have been accumalting cheap coin for past 18 months

This might have been happening but this still doesn't explain the capital controls thing which don't go hand in hand with allowing direct bank deposits!

ajareselde

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Satoshi is rolling in his grave. #bitcoin

Quote from: AltcoinInvestor on November 03, 2015, 04:07:42 PM

I hope this does not lead to another Mtgox in china. Is this exchange handling the majority of chinese transactions atm?

There's no similarity between direct bank deposits and insider trading/abuse of user funds. afaik huobi and okcoin are holding majority of chinese market volume.
If you ask me, there was no real reason not to allow direct deposits in the first place.

cheers

NorrisK

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Activity: 1946

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The news just keeps piling up.. This is getting insane.

It feels like the news has been withhold, to explode in one fantastic burst of beautiful price increase.

Bet the Chinese are very happy here!

brokenchair

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Quote from: Mickeyb on November 03, 2015, 04:16:51 PM

This is a great news and all and I salute this very much! But am I the only one seeing something weird here?

If the Chinese capital controls are the main reason of current run as everyone is reporting today, why would they allow bank deposits directly then and in this way encourage the outflow of capital out of their country?

Nope.

So the instant the Chinese are allowed to buy btc directly again, noone knew about it, yet this exchange was already set up for it?
While I would like to believe this; I don't.

Guido

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Activity: 1061

Merit: 1001

Quote from: Mickeyb on November 03, 2015, 04:16:51 PM

This is a great news and all and I salute this very much! But am I the only one seeing something weird here?

If the Chinese capital controls are the main reason of current run as everyone is reporting today, why would they allow bank deposits directly then and in this way encourage the outflow of capital out of their country?

agreed
is a paradox

therefore we could see an ATM in many thousands, to then see china come in and mega tighten things again
unless the chinese gov have been accumalting cheap coin for past 18 months

Mickeyb

hero member

Activity: 798

Merit: 1000

Move On !!!!!!

This is a great news and all and I salute this very much! But am I the only one seeing something weird here?

If the Chinese capital controls are the main reason of current run as everyone is reporting today, why would they allow bank deposits directly then and in this way encourage the outflow of capital out of their country?

AltcoinInvestor

sr. member

Activity: 294

Merit: 250

I hope this does not lead to another Mtgox in china. Is this exchange handling the majority of chinese transactions atm?

Topic: China BTC Exchanges now accepting direct bank deposits! HUGE - page 2. (Read 2717 times)