You don't fully understand what's happening here because You guys don't live in china .Nothing really changes , just reassert CBC's position
Topic: Did China BAN bitcoin - page 2. (Read 3980 times)
You don't fully understand what's happening here because You guys don't live in china .Nothing really changes , just reassert CBC's position
Why are you even doing a poll about that? It's not a matter of oppinion 
China classified bitcoins as a commodity and said that it should not be used as a currency. Nothing more nothing less.
China classified bitcoins as a commodity and said that it should not be used as a currency. Nothing more nothing less.
All smoke and mirrors 
For those who don't know, China has also banned Facebook and porn, neither of which is exactly suffering from it. In the grand scheme of things, this means nothing regardless of whether they've banned it or not (which they haven't anyway).
I think the news out of China is bullish, but the market seems to disagree...
1. You cannot sell any item for btc
2. You can trade btc but you need to have you govt id on record
3. You can speculate on btc.
Hence the 'crash'
2. You can trade btc but you need to have you govt id on record
3. You can speculate on btc.
Hence the 'crash'
Just financial institutions, not the people.
Wich means selling and buying bitcoins in china suddenly is almost impossible. China is not a free nation.
China hasn't been a free nation for years, if ever. No change there.
The btc exchanges are ok to continue operating, however.
Just financial institutions, not the people.
Wich means selling and buying bitcoins in china suddenly is almost impossible. China is not a free nation.
China said Bitcoin is not a currency, but a commodity.
Businesses are not allowed to accept Bitcoin for payment, but individuals may buy and trade Bitcoin as a commodity.
Businesses are not allowed to accept Bitcoin for payment, but individuals may buy and trade Bitcoin as a commodity.
Just financial institutions, not the people.
I love that, over a day into the news, nobody seems to have any freakin' clue what's going on. We can't even get a clear translation, much less a clear legal interpretation. Did they ban vendors from accepting BTC, did they just ban BTC-denominated bank accounts, did they ban banks from dealing with businesses using bitcoins, did they ban bitcoin exchanges, did they clarify what bitcoins are as a taxable entity?
Are they just trying to kill bitcoin with regulatory uncertainty?
Are they just trying to kill bitcoin with regulatory uncertainty?
Reddit has a lot of analysis on the text.
Basically, "financial institutions", banks mostly, are banned from using/trading bitcoins, bank-created derivatives from it are banned. BTCChina etc are not included in this.
Individuals and business CAN use it at their own risk. This is very significant as the Tencent QQ coin was banned outright. So Bitcoin is being tolerated to see where it goes, but only in the private sector.
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No, they didn't ban it.
I love that, over a day into the news, nobody seems to have any freakin' clue what's going on. We can't even get a clear translation, much less a clear legal interpretation. Did they ban vendors from accepting BTC, did they just ban BTC-denominated bank accounts, did they ban banks from dealing with businesses using bitcoins, did they ban bitcoin exchanges, did they clarify what bitcoins are as a taxable entity?
Are they just trying to kill bitcoin with regulatory uncertainty?
Are they just trying to kill bitcoin with regulatory uncertainty?
Question is rather simple, Do you believe, based on your own information that you have gathered yourself, think that China has Banned bitcoin (making it illegal to trade)
The poll is really not much more than a way to guage the current mindset of "oh noes!, China banned bitcoin!, now whats next?!"
The poll is really not much more than a way to guage the current mindset of "oh noes!, China banned bitcoin!, now whats next?!"
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