Chinese Bank Rumors Cause Panic Sale and BTC Price is Going Down

Swordsoffreedom

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Quote from: captainblack on March 30, 2014, 11:23:04 AM

usually the more you ban something, the more people will covet it.

True prohibition wasn't very effective, it seems to work in the odd case now and then but Bitcoin doesn't seem to be one of those cases albeit the price is dropping due to decreased demand and market concerns for now so semi related.

captainblack

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usually the more you ban something, the more people will covet it.

berliston

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Quote from: caifengxilong on March 30, 2014, 03:34:58 AM

这是什么啊

What's the translation ? Is it "What is that ah"? When do you mean?

caifengxilong

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这是什么啊

boy play

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Let us look at the 4.15

blackvoice

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I know it's true

I bet it

If I win

can somebody send btc to me

please pm me

notthematrix

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In the end bitcoin will get more decentralized and stronger because of this.
deceltalized exchages , etc...
for mee this fight is expected , and were bitcoin was build for.
people think in a single point of failure , and heve to get used to that not being there.

jolipenria

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Quote from: tins on March 28, 2014, 06:09:39 PM

Quote from: odolvlobo on March 28, 2014, 03:48:58 PM

The stupid thing about this whole issue is that this is not new news. The PBOC already told banks and payment processors that they weren't allowed to deal in Bitcoin two months ago. That was the whole reason for the drop in price at the beginning of the year.

According to Bobby Lee, CEO of BTCChina, this does not affect him. People continue to be able to move money in and out of the exchanges.

Amazing how much more the Bitcoin/Chinese news affects the price compared to BTC/U.S. news.

I am also surprised to see how China could affect Bitcoin and I think it's not only China but other countires are able to affect it ! It's not good fot BTC to be so dependant on such things as rumors

boy play

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In fact, from the China Market Is also a good choice Conducive to the development of bitcoin Grin

digitalninja81

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Quote from: boy play on March 27, 2014, 11:49:51 AM

I hope just a rumor

I hope so but it even it is a rumor they affect Bitcoin's price and that's not cool

Swordsoffreedom

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Well news can move markets and I guess hoaxes do as well recalls the Obama was shot news that caused a flash drop then a quick recovery
These long news issues with government involved make it trickier to verify though so we shall wait unfortunately
But if a hoax this is a nice discount price due to markets misreading the information in a sense
Of course this can only be seen retrospectively

tins

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Quote from: odolvlobo on March 28, 2014, 03:48:58 PM

The stupid thing about this whole issue is that this is not new news. The PBOC already told banks and payment processors that they weren't allowed to deal in Bitcoin two months ago. That was the whole reason for the drop in price at the beginning of the year.

According to Bobby Lee, CEO of BTCChina, this does not affect him. People continue to be able to move money in and out of the exchanges.

Amazing how much more the Bitcoin/Chinese news affects the price compared to BTC/U.S. news.

odolvlobo

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The stupid thing about this whole issue is that this is not new news. The PBOC already told banks and payment processors that they weren't allowed to deal in Bitcoin two months ago. That was the whole reason for the drop in price at the beginning of the year.

According to Bobby Lee, CEO of BTCChina, this does not affect him. People continue to be able to move money in and out of the exchanges.

howardb

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This looks like a hoax, but even if it's not, like US prohibition years, the more you ban something, the more people will covet it.

TraderTimm

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bitcool

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Most likely a weather balloon, and some well connected individuals making a ton of money on the side. Corrupted to the core.

boy play

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I hope just a rumor

boy play

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Quote from:

http://cryptomining-blog.com/1789-chinese-bank-rumors-cause-panic-sale-and-btc-price-is-going-down/
Today the Bitcoin exchange rate started going down again and the reason seems to be some new rumors that the Chinese national bank is going to prohibit the trading of Bitcoins and other cryptos by not allowing banks to service the payments for crypto currency exchanges by ordering all Chinese banks and payment processors to close accounts of Chinese Bitcoin exchanges by April 15th. It seems that this is still just a rumor as there is no official information, though some news services in China are apparently reporting the news and the result is as expected – panic sale. Some of the big Chinese crypto exchanges have reported that they are not aware of any official announcement and it is all just a rumor, but the information in question could just be sent to banks directly, though at the end of last year the central bank has issued official warning about trading of Bitcoins and this has caused panic and significant drop in the price of BTC that had previously hit a record high price. It seems that soon enough we’ll see if this time it was all just a hoax if the price starts to recover back to the normal level or we’ll get to see an official announcement…

Topic: Chinese Bank Rumors Cause Panic Sale and BTC Price is Going Down (Read 1642 times)