CHINA CANT BAN BITCOINS!! - page 2. | Bitcointalksearch.org

TTM

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Quote from: franky1 on March 29, 2014, 04:58:28 PM

Quote from: TTM on March 29, 2014, 04:52:00 PM

Quote from: franky1 on March 29, 2014, 04:43:33 PM

show me the article dated 27th of march on http://www.pbc.gov.cn/ (the official source) and ill declare you the winner.

Apparently you don't know how China's departments and agencies work. They don't publish every paper work to media.

That rule might be sent from PBOC to all Chinese banks as an internal announcement. That's why they don't make it as public statement and we'll have to wait till April 15th to know exactly.

ok quote me their words, spoken in a interview or a memo or a video conference. something that is not just a media story of misrepresentation.

... i await your proof. if no proof is supplied that has ACTUAL QUOTES, then you have nothing to add to this conversation and are simply adding to the existent FUD

ok so do you have any official statement from PBOC to deny that 'FUD' ? show me the ACTUAL QUOTES that say the rumor was a lie !
yeah you can't since central bank neither deny nor confirm. It's not a fud, it remains a rumor as long as no official information.

You'll never know util BTCChina and Huobi give out a statement saying that their bank accounts was forced to close.

franky1

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Quote from: TTM on March 29, 2014, 04:52:00 PM

Quote from: franky1 on March 29, 2014, 04:43:33 PM

show me the article dated 27th of march on http://www.pbc.gov.cn/ (the official source) and ill declare you the winner.

Apparently you don't know how China's departments and agencies work. They don't publish every paper work to media.

That rule might be sent from PBOC to all Chinese banks as an internal announcement. That's why they don't make it as public statement and we'll have to wait till April 15th to know exactly.

ok quote me their words, spoken in a interview or a memo or a video conference. something that is not just a media story of misrepresentation.

... i await your proof. if no proof is supplied that has ACTUAL QUOTES, then you have nothing to add to this conversation and are simply adding to the existent FUD

Quote from: paulsonnumismatics on March 29, 2014, 04:57:46 PM

Ok about this matter: I still can't understand why someone is talking about this. How can you "ban" a crypto packet sent from an encrypted client to another encrypted client containing an encrypted quantity of numerals in echange for an unknown service or asset between two unknown individuals/organizations?
And while im at it, How can Japan, USA, et at possibly dream about taxing this?
Im missing something?

you cant prohibit bitcoin protocol. just like you cant prevent people in the early 20th century from consuming alcohol (the prohibition era) the only thing they can do is to stop the access. by closing individual distilleries

same with drugs, they cant stop people injecting or smoking or sniffing it up their nose. they can only attempt to block drug dealers supplying it by freezing their bank accounts.

but the whole banning citizens is just speculated FUD anyways, so not worth worrying about

paulsonnumismatics

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Honni Soit Qui Mal i Pense

Ok about this matter: I still can't understand why someone is talking about this. How can you "ban" a crypto packet sent from an encrypted client to another encrypted client containing an encrypted quantity of numerals in echange for an unknown service or asset between two unknown individuals/organizations?
And while im at it, How can Japan, USA, et at possibly dream about taxing this?
Im missing something?

TTM

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Activity: 140

Merit: 100

Quote from: franky1 on March 29, 2014, 04:43:33 PM

show me the article dated 27th of march on http://www.pbc.gov.cn/ (the official source) and ill declare you the winner.

Apparently you don't know how China's departments and agencies work. They don't publish every paper work to media.

That rule might be sent from PBOC to all Chinese banks as an internal announcement. That's why they don't make it as public statement and we'll have to wait till April 15th to know exactly.

franky1

legendary

Activity: 4410

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Quote from: TTM on March 29, 2014, 04:33:58 PM

Quote from: franky1 on March 29, 2014, 04:24:18 PM

show me source. that is not a media article.

if you look at the sources you will see the december announcement mentioned april as the deadline date for the changes. and that the march announcement is simply a reminder to the deadline..

prove me wrong!

Stop talking about December announcement which is outdated information. What Bitcoiners worry about now is POSSIBLE new crackdown.

Of course i have no official statement from central bank to confirm that media articles, that's why i constantly use the words 'possible' and 'possibly'.

But do you have any OFFICIAL WORDS from PBOC to deny that article dated 27th March ? Zero.

Caixin is a reputable news service about finance in China. Many Chinese say that the reporter of that article is daughter of Vice Minister of Finance. Those information is enough to make many people believe this rumor to be true.

show me the article dated 27th of march on http://www.pbc.gov.cn/ (the official source) and ill declare you the winner.

TTM

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Quote from: franky1 on March 29, 2014, 04:24:18 PM

Quote from: TTM on March 29, 2014, 04:14:20 PM

Quote from: franky1 on March 29, 2014, 03:54:25 PM

read the actual part that says
banks cannot trade bitcoins
exchanges need licences in relation to the telecommunications regulations.
no where does it say exchanges are banned or citizens!
here is a english translation
https://vip.btcchina.com/page/bocnotice2013

It seems you don't know what the world are talking about these days. The information you posted above was regarding to December ban.

We are talking about possibly upcoming NEW BAN HAMMER on April 2014. Do you understand ?

show me source. that is not a media article.

if you look at the sources you will see the december announcement mentioned april as the deadline date for the changes. and that the march announcement is simply a reminder to the deadline..

prove me wrong!

Stop talking about December announcement which is outdated information. What Bitcoiners worry about now is POSSIBLE new crackdown.

Of course i have no official statement from central bank to confirm that media articles, that's why i constantly use the words 'possible' and 'possibly'.

But do you have any OFFICIAL WORDS from PBOC to deny that article dated 27th March ? Zero.

Caixin is a reputable news service about finance in China. Many Chinese say that the reporter of that article is daughter of Vice Minister of Finance. Those information is enough to make many people believe this rumor to be true.

franky1

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Quote from: TTM on March 29, 2014, 04:14:20 PM

Quote from: franky1 on March 29, 2014, 03:54:25 PM

read the actual part that says
banks cannot trade bitcoins
exchanges need licences in relation to the telecommunications regulations.
no where does it say exchanges are banned or citizens!
here is a english translation
https://vip.btcchina.com/page/bocnotice2013

It seems you don't know what the world are talking about these days. The information you posted above was regarding to December ban.

We are talking about possibly upcoming NEW BAN HAMMER on April 2014. Do you understand ?

show me source. that is not a media article.

if you look at the sources you will see the december announcement mentioned april as the deadline date for the changes. and that the march announcement is simply a reminder to the deadline..

prove me wrong!

kosha8

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If China bans the banks from trading bitcoins is this not a good thing ??

TTM

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Activity: 140

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Quote from: franky1 on March 29, 2014, 03:54:25 PM

read the actual part that says
banks cannot trade bitcoins
exchanges need licences in relation to the telecommunications regulations.
no where does it say exchanges are banned or citizens!
here is a english translation
https://vip.btcchina.com/page/bocnotice2013

It seems you don't know what the world are talking about these days. The information you posted above was regarding to December ban.

We are talking about possibly upcoming NEW BAN HAMMER on April 2014. Do you understand ?

TTM

full member

Activity: 140

Merit: 100

Quote from: franky1 on March 29, 2014, 03:54:25 PM

Quote from: TTM on March 29, 2014, 03:48:35 PM

Quote from: franky1 on March 29, 2014, 03:36:58 PM

china government banned BANKS from buying bitcoin for THEIR BANKS investment portfolio.
this does not stop individuals using individuals bank accounts to purchase bitcoin

and as for exchanges they, just like all other countries, now have to buy a licence

please read the china banks announcement and not other peoples opinions and china!

you're wrong, China central bank is going to close all bank account of Chinese exchanges:
http://english.caixin.com/2014-03-27/100657518.html

your reading a news article

READ THE China BANKS announcements instead of the misinterpreted media versions!!!

They were denying the rumor on 21st March saying that PBOC banning Bitcoin transactions.

The article i posted above (dated 27th March) was another story about PBOC to force all Bitcoin exchanges to close their bank accounts. Currently there is no official denial/confirmation for this.

franky1

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Quote from: TTM on March 29, 2014, 03:48:35 PM

Quote from: franky1 on March 29, 2014, 03:36:58 PM

china government banned BANKS from buying bitcoin for THEIR BANKS investment portfolio.
this does not stop individuals using individuals bank accounts to purchase bitcoin

and as for exchanges they, just like all other countries, now have to buy a licence

please read the china banks announcement and not other peoples opinions and china!

you're wrong, China central bank is going to close all bank account of Chinese exchanges:
http://english.caixin.com/2014-03-27/100657518.html

your reading a news article

READ THE CHINA BANKS announcements instead of the misinterpreted media versions!!!

read the actual part that says
banks cannot trade bitcoins
exchanges need licences in relation to the telecommunications regulations.
no where does it say exchanges are banned or citizens!
here is a english translation
https://vip.btcchina.com/page/bocnotice2013

Quote

does not have the same legal status as currency, and cannot be used as circulating currency in the market. However, Bitcoin trading constitutes a method of buying and selling commodities online, and ordinary people are free to participate, so long as they are willing to assume the risk.

meaning not legal tender or a government currency but citizens can trade at their own risk

Quote

It is required that, at this stage, financial and payment institutions may not use Bitcoin

meaning banks wont develop ATMS. mastercard wont offer bitcoin denominated cards. this does not stop shops advertising in bitcoins.

Quote

It is required that, websites serving primarily as Bitcoin trading platforms, must, according to the Telecommunications Regulations of the People’s Republic of China and the Internet Information Services Managing Guidelines, legally register with the Telecommunications Bureau.

exchanges need licences!

TTM

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Activity: 140

Merit: 100

Quote from: franky1 on March 29, 2014, 03:36:58 PM

china government banned BANKS from buying bitcoin for THEIR BANKS investment portfolio.
this does not stop individuals using individuals bank accounts to purchase bitcoin

and as for exchanges they, just like all other countries, now have to buy a licence

please read the banks announcement and not other peoples opinions and china!

you're wrong, China central bank is going to close all bank account of Chinese exchanges:
http://english.caixin.com/2014-03-27/100657518.html

franky1

legendary

Activity: 4410

Merit: 4766

stop making posts quoting that china is banning citizens from using bitcoin, your wrong

china government banned BANKS from buying bitcoin for THEIR BANKS investment portfolio.
this does not stop individuals using individuals bank accounts to purchase bitcoin

and as for exchanges they, just like all other countries, now have to buy a licence

please read the china banks announcement and not other peoples opinions and china!

leopard2

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Activity: 1372

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Chinese govt is probably stashing btc as we speak. They have built huge underground storage and bought over 1000t of gold for their useless USD

Now they buy BTC, believe me. And they want them cheap ... Grin

Chinese are smart, thinking long term Wink

principalg1

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Support your argument, even Chinese government banned BTC, but we will be as in the past to do BTC.
And while im at it, How can Japan, USA, et at possibly dream about taxing this?
Im missing something?

TTM

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Activity: 140

Merit: 100

Quote from: romang on March 29, 2014, 12:47:35 PM

So far china has driven the price down 50% in the last year what else will they do next

New ban hammer will cause much more damage to price than December's ban. On December, only merchants was not allowed to take Bitcoin payment, investors was still able to trade freely. That's why Bitcoin price was quickly recovered to $1000 range after that ban.

But now China gonna close all bank accounts of exchange websites. This mean traders will no longer can use their most popular withdrawal/deposit method (via bank transfer). By new rule, China central bank would kill >90% of trading volume.

krodmandoon

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Quote from: romang on March 29, 2014, 12:47:35 PM

Quote from: Azeh on March 29, 2014, 12:44:48 PM

None you you really understand China.

China will not ban Bitcoin outright. Why would they do that and possibly cause potential enemies. The Government is much smarter and more subtle than that.

They will ban bank deposits and withdrawals, essentially choking off the exchanges. This action by the government will have the same effect as a ban, without actually banning bitcoin.

So far china has driven the price down 50% in the last year what else will they do next

Place massive buy orders and take total control.

romang

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Quote from: Azeh on March 29, 2014, 12:44:48 PM

None you you really understand China.

China will not ban Bitcoin outright. Why would they do that and possibly cause potential enemies. The Government is much smarter and more subtle than that.

They will ban bank deposits and withdrawals, essentially choking off the exchanges. This action by the government will have the same effect as a ban, without actually banning bitcoin.

So far china has driven the price down 50% in the last year what else will they do next

Azeh

sr. member

Activity: 441

Merit: 500

None you you really understand China.

China will not ban Bitcoin outright. Why would they do that and possibly cause potential enemies. The Government is much smarter and more subtle than that.

They will ban bank deposits and withdrawals, essentially choking off the exchanges. This action by the government will have the same effect as a ban, without actually banning bitcoin.

TTM

full member

Activity: 140

Merit: 100

Quote from: Sawadekub on March 29, 2014, 09:04:42 AM

WHY? because they are humans not aliens that cant read peoples mind for your private keys...

THey don't need to know private keys. They just need to ban Bitcoin trading, forbid exchanges to have bank accounts, forbid merchants and retailers from accepting bitcoin as payment method. That's what happening in China right now.

Topic: CHINA CANT BAN BITCOINS!! - page 2. (Read 3508 times)