Chinese Capital Controls on Bitcoin | Bitcointalksearch.org

Wapfika

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Quote from: deisik on November 06, 2016, 05:21:19 AM

Quote from: Wind_FURY on November 06, 2016, 03:27:48 AM

Quote

Chinese officials are considering introducing policies, including restricting domestic Bitcoin exchanges from moving the cryptocurrency to platforms outside the nation and imposing quotas on the amount of Bitcoins that can be sent abroad.

This will really be interesting and I encourage the Chinese officials to go ahead and try. Oh please, yes, please impose capital controls on Bitcoin in China. I would love to see bitsquare.io finally have justification for its creation and use case as a censorship resistant, peer to peer exchange. Also a censorship resistant market place will be next once they totally ban Bitcoin as a currency.

The only way for Bitcoin to go truly forward is for the authorities to try to put it down.

I would say this is a rather childish attitude. And that looks very like what Friedrich Nietzsche once said (whom you must be a great fan of). Namely, what does not destroy me, makes me stronger. Why not then you chop your fingers off? It will most certainly not kill you but should truly push you forward, right? Though your mileage may vary, of course...

At least, you won't be posting such crap anymore here

You are right. If the bitcoin is forbidden in a major country like China, it will be very bad for its adoption.

deisik

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Quote from: 1Referee on November 09, 2016, 04:22:33 AM

Quote from: BitSquare on November 09, 2016, 03:02:49 AM

I think the Chinese speculators will affect the price of bitcoin quite a lot. If they are not allowed to own bitcoin, the price will drop.

They have been affecting the price for years now. Also, a lot of these Chinese speculators are western investors trading in China due to the zero fee policy of the exchanges there. If China makes it more difficult for these investors to continue their usual routine, then they will switch back to western exchanges. In that regard, they do have a plan B ready. It won't be the same as operating their investments from China, but it's better than shutting down everything.

Personally, I don't think there are many Western investors on these exchanges. I was thinking about trading there somewhere around a year and a half ago, but some of them didn't even have readable English interface at that time. Besides that, why would such investors want to trade there if the only fiat currency traded on these exchanges is the Chinese yuan?

Maybe, something has changed since then, but not likely

1Referee

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Quote from: BitSquare on November 09, 2016, 03:02:49 AM

I think the Chinese speculators will affect the price of bitcoin quite a lot. If they are not allowed to own bitcoin, the price will drop.

They have been affecting the price for years now. Also, a lot of these Chinese speculators are western investors trading in China due to the zero fee policy of the exchanges there. If China makes it more difficult for these investors to continue their usual routine, then they will switch back to western exchanges. In that regard, they do have a plan B ready. It won't be the same as operating their investments from China, but it's better than shutting down everything.

BitSquare

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Quote from: European Central Bank on November 05, 2016, 11:14:14 AM

Quote from: Wind_FURY on November 05, 2016, 03:07:12 AM

It will be surely bad if those thousands of Chinese speculators will be shut out but it will not make Bitcoin "die". Far from it sir.

it's enough to set everyone else off into a panic to put it in the doldrums for a long time. and it's probably hundreds of chinese speculators. everyone else on the chinese markets is american or european.

I think the Chinese speculators will affect the price of bitcoin quite a lot. If they are not allowed to own bitcoin, the price will drop.

deisik

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Quote from: Wind_FURY on November 06, 2016, 03:27:48 AM

Quote

Chinese officials are considering introducing policies, including restricting domestic Bitcoin exchanges from moving the cryptocurrency to platforms outside the nation and imposing quotas on the amount of Bitcoins that can be sent abroad.

This will really be interesting and I encourage the Chinese officials to go ahead and try. Oh please, yes, please impose capital controls on Bitcoin in China. I would love to see bitsquare.io finally have justification for its creation and use case as a censorship resistant, peer to peer exchange. Also a censorship resistant market place will be next once they totally ban Bitcoin as a currency.

The only way for Bitcoin to go truly forward is for the authorities to try to put it down.

I would say this is a rather childish attitude. And that looks very like what Friedrich Nietzsche once said (whom you must be a great fan of). Namely, what does not destroy me, makes me stronger. Why not then you chop your fingers off? It will most certainly not kill you but should truly push you forward, right? Though your mileage may vary, of course...

At least, you won't be posting such crap anymore here

Wind_FURY

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Quote

Chinese officials are considering introducing policies, including restricting domestic Bitcoin exchanges from moving the cryptocurrency to platforms outside the nation and imposing quotas on the amount of Bitcoins that can be sent abroad.

This will really be interesting and I encourage the Chinese officials to go ahead and try. Oh please, yes, please impose capital controls on Bitcoin in China. I would love to see bitsquare.io finally have justification for its creation and use case as a censorship resistant, peer to peer exchange. Also a censorship resistant market place will be next once they totally ban Bitcoin as a currency.

The only way for Bitcoin to go truly forward is for the authorities to try to put it down.

kiklo

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https://bitcointalksearch.org/topic/bitcoin-advocates-do-you-know-who-your-masters-are-1671133

Unless you are tank proof you will do what the Chinese Officials tell you to.

Cool

Wind_FURY

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Quote from: tee-rex on November 05, 2016, 10:23:01 AM

Quote from: Wind_FURY on November 05, 2016, 03:07:12 AM

Quote from: panju1 on November 04, 2016, 09:32:48 PM

Quote from: Wind_FURY on November 04, 2016, 08:17:54 PM

Someone out there is trying to use the ''Chinese Will Ban Bitcoin" scare tactic again. Why not ban it already and let Bitcoin move on from it. If those rumors are true, which they are not, then it could also be seen as a positive for Bitcoin for various reasons. China will slowly lose or diminish their influence over Bitcoin and will give room for other players to get in the exchange trading and mining game. Another reason is this should be seen as another test for the resilience of Bitcoin and a chance to give the finger to the man.

Shutting out more than a billion people won't be good for Bitcoin. We could plunge to scary levels, which would result in other people losing faith in Bitcoin as well.

A billion people? So you think a billion Chinese people are using Bitcoin regularly in their lives now, and that shutting them out will result to dire consequences to the Bitcoin economy? I am sorry sir but most of the Chinese who are into Bitcoin are speculators. It will be surely bad if those thousands of Chinese speculators will be shut out but it will not make Bitcoin "die". Far from it sir.

I'd rather agree that shutting out more than a billion of the Chinese people won't bode well for Bitcoin, even if only a small percentage of people in China are actually using Bitcoin right now. Shutting out China from Bitcoin basically means that the Chinese population won't have an opportunity of using Bitcoin in the future. And they could make all the difference.

How can this be good?

Did I ever say that shutting them out will be good. It will be bad but it will not be "the end of Bitcoin" bad. In a way this should be seen as a test to the resiliency and robustness of Bitcoin as a censor resistant network and let us see how its value transfer function gets affected in an unfriendly government. If BTC still goes around changing hands around the users of China then their "ban" will be laughable. Prepare and set up the Tor based Chinese exchanges people. Or find a way to get BTC/CNY trading jump started at bitsquare.io somehow.

Wei H

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Chinese translator

I'm a Chinese who living in China, but I didn't hear any news about banning Bitcoin again, they don't even really "ban" Bitcoin back in 2013, all Chinese bitcoin exchanges works, smoothly. Bitcoin is banned as a currency in China indeed, but as some kind of commodity, it's legal in some kind of unofficial way.

They do control everything but if they could prevent RMB and whole financial system from Bitcoin, they would keep it live.

shinratensei_

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Quote from: tbterryboy on November 05, 2016, 02:04:57 PM

Quote from: Enjorlas on November 03, 2016, 12:33:08 PM

Zerohedge published an article today stating that China plans to impose capital controls on Bitcoin. They cite "Bloomberg sources" as the source of information. Is there any truth to this or is it Zerohedge up to its old games?
http://www.zerohedge.com/news/2016-11-03/china-prepares-impose-curbs-capital-controls-bitcoin

I was wondering why would china want to be controlling everything in the world while they are not the only existing beings on the earth. Bitcoin does not belong to any country so they should just forget about controlling it.

if they are just wanna for reaching the another income for their financial country. I thought a lot of the potentially of bitcoin are quite easy to get any effect by using just a little sound. like this one is so quite easy for made the rate of bitcoin are fallen.

tee-rex

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Quote from: tbterryboy on November 05, 2016, 02:04:57 PM

Quote from: Enjorlas on November 03, 2016, 12:33:08 PM

Zerohedge published an article today stating that China plans to impose capital controls on Bitcoin. They cite "Bloomberg sources" as the source of information. Is there any truth to this or is it Zerohedge up to its old games?
http://www.zerohedge.com/news/2016-11-03/china-prepares-impose-curbs-capital-controls-bitcoin

I was wondering why would china want to be controlling everything in the world while they are not the only existing beings on the earth. Bitcoin does not belong to any country so they should just forget about controlling it.

I don't think they are trying to control everything. It is typically the Americans who are earnestly believing their country and their way of life is the best, and the best for anyone at that. China is just trying to survive in their own way. Through all their history they have been fighting with invaders, for example, with the Mongols, the British Empire and Imperial Japan, though not very successful overall.

tbterryboy

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Quote from: Enjorlas on November 03, 2016, 12:33:08 PM

Zerohedge published an article today stating that China plans to impose capital controls on Bitcoin. They cite "Bloomberg sources" as the source of information. Is there any truth to this or is it Zerohedge up to its old games?
http://www.zerohedge.com/news/2016-11-03/china-prepares-impose-curbs-capital-controls-bitcoin

I was wondering why would china want to be controlling everything in the world while they are not the only existing beings on the earth. Bitcoin does not belong to any country so they should just forget about controlling it.

CIYAM

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It was interesting to see that the plunge in price started shortly after the appearance of the article on ZeroHedge - but that was 2am in China on a weekday - so I find it hard to believe that it was actually Chinese traders that live in China that were the ones dumping (far more likely that the dumpers were actually from the US).

There was also no media release made in China about this at all and also note that the "author" of said article is apparently Tyler Durden. Wink

hubballi

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I dont think that the main speculation is done by Chinese but Chinese market is controlled by some americans and europeans , they are having miners and trading account in chinese exchange and doing all trading and making the world to know that chinese are the main bitcoin price speculators. but the real thing is something else.

European Central Bank

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Quote from: Wind_FURY on November 05, 2016, 03:07:12 AM

It will be surely bad if those thousands of Chinese speculators will be shut out but it will not make Bitcoin "die". Far from it sir.

it's enough to set everyone else off into a panic to put it in the doldrums for a long time. and it's probably hundreds of chinese speculators. everyone else on the chinese markets is american or european.

tee-rex

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Quote from: Wind_FURY on November 05, 2016, 03:07:12 AM

Quote from: panju1 on November 04, 2016, 09:32:48 PM

Quote from: Wind_FURY on November 04, 2016, 08:17:54 PM

Someone out there is trying to use the ''Chinese Will Ban Bitcoin" scare tactic again. Why not ban it already and let Bitcoin move on from it. If those rumors are true, which they are not, then it could also be seen as a positive for Bitcoin for various reasons. China will slowly lose or diminish their influence over Bitcoin and will give room for other players to get in the exchange trading and mining game. Another reason is this should be seen as another test for the resilience of Bitcoin and a chance to give the finger to the man.

Shutting out more than a billion people won't be good for Bitcoin. We could plunge to scary levels, which would result in other people losing faith in Bitcoin as well.

A billion people? So you think a billion Chinese people are using Bitcoin regularly in their lives now, and that shutting them out will result to dire consequences to the Bitcoin economy? I am sorry sir but most of the Chinese who are into Bitcoin are speculators. It will be surely bad if those thousands of Chinese speculators will be shut out but it will not make Bitcoin "die". Far from it sir.

I'd rather agree that shutting out more than a billion of the Chinese people won't bode well for Bitcoin, even if only a small percentage of people in China are actually using Bitcoin right now. Shutting out China from Bitcoin basically means that the Chinese population won't have an opportunity of using Bitcoin in the future. And they could make all the difference.

How can this be good?

mace15

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This is not new that chinese capital control over bitcoin. Some of
cyrptocurrency really controlled by chinese people. I've heard this
news later this year. But Im hoping that they have a good plan,
I dont really know whats their intention though.

Rubberduckie

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Quote from: Enjorlas on November 03, 2016, 12:33:08 PM

Zerohedge published an article today stating that China plans to impose capital controls on Bitcoin. They cite "Bloomberg sources" as the source of information. Is there any truth to this or is it Zerohedge up to its old games?
http://www.zerohedge.com/news/2016-11-03/china-prepares-impose-curbs-capital-controls-bitcoin

China honestly runs everything. This isnt surprising for me. It's the reason this
moron trump actually has traction in the US. People are so worried about the
economy and china.

Wind_FURY

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Quote from: panju1 on November 04, 2016, 09:32:48 PM

Quote from: Wind_FURY on November 04, 2016, 08:17:54 PM

Someone out there is trying to use the ''Chinese Will Ban Bitcoin" scare tactic again. Why not ban it already and let Bitcoin move on from it. If those rumors are true, which they are not, then it could also be seen as a positive for Bitcoin for various reasons. China will slowly lose or diminish their influence over Bitcoin and will give room for other players to get in the exchange trading and mining game. Another reason is this should be seen as another test for the resilience of Bitcoin and a chance to give the finger to the man.

Shutting out more than a billion people won't be good for Bitcoin. We could plunge to scary levels, which would result in other people losing faith in Bitcoin as well.

A billion people? So you think a billion Chinese people are using Bitcoin regularly in their lives now, and that shutting them out will result to dire consequences to the Bitcoin economy? I am sorry sir but most of the Chinese who are into Bitcoin are speculators. It will be surely bad if those thousands of Chinese speculators will be shut out but it will not make Bitcoin "die". Far from it sir.

davis196

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Quote from: Enjorlas on November 03, 2016, 12:33:08 PM

Zerohedge published an article today stating that China plans to impose capital controls on Bitcoin. They cite "Bloomberg sources" as the source of information. Is there any truth to this or is it Zerohedge up to its old games?
http://www.zerohedge.com/news/2016-11-03/china-prepares-impose-curbs-capital-controls-bitcoin

Sooner or later the communist government of China will try to take control over bitcoin.

This will have some negative impact over the bitcoin price.

I don`t know if this info is true or not,but there is s huge possibility for this to happen.

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