Do you think China will completely BAN bitcoin?

Harley997

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Quote from: AceWallen on June 09, 2014, 12:15:24 AM

if they banned it, driving the bitcoin economy in China underground and the exchanges offshore, it seems like it would hamper Chinese demand. and there are a lot of Chinese mining farms to think about as well. i think they must be sitting on a lot of coins.

They have not quite banned bitcoin. They are probably one or two steps from a "ban"

okthen

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Quote from: AceWallen on June 09, 2014, 12:15:24 AM

if they banned it, driving the bitcoin economy in China underground and the exchanges offshore, it seems like it would hamper Chinese demand. and there are a lot of Chinese mining farms to think about as well. i think they must be sitting on a lot of coins.

Maybe it would be better if it all moved out.
(Assuming that they move their coins offshore and not freak out and be scared about it)

ajareselde

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Satoshi is rolling in his grave. #bitcoin

noone, including china can ever truly ban bitcoin.
they can, on the other hand, make it alot harder to invest into bitcoin to china-ppl, but where there is a will there is allways a way.
also, by restricting them from buying localy, chinese just seek offshore exchanges, and due to that (fewer exchanges), price becomes much more volatile.

AceWallen

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if they banned it, driving the bitcoin economy in China underground and the exchanges offshore, it seems like it would hamper Chinese demand. and there are a lot of Chinese mining farms to think about as well. i think they must be sitting on a lot of coins.

Harley997

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Quote from: luckybitcoin777 on May 17, 2014, 12:12:09 PM

Do you think China will completely BAN bitcoin? Huh

If yes, when ?
No, Why?

This would realistically not be possible.

China is currently attempting to censor the internet with horrible success.

If China were to "ban" Bitcoin then all a person in China would need to do is use tor to access their wallet service.

The currency controls have distorted the price of bitcoin in China verses the price of bitcoin in the rest of the world in the past.

Gimmelfarb

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Quote from: eatingtic on June 08, 2014, 07:41:04 PM

No because they are heavily invested in the US dollar, and how would they off set their countrys debt?

offset their country's debt? with bitcoin? i don't think bitcoin in any way, shape or form is part of the Chinese government's economic/financial strategy. bitcoin market cap is small potatoes.

jeffersonairplane

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www.bitkong.com

Quote from: luckybitcoin777 on May 17, 2014, 12:12:09 PM

Do you think China will completely BAN bitcoin? Huh

If yes, when ?
No, Why?

Yes, in a communist country, Bitcoin is extremely bad for their political ideas. Considering they want to control everything, BTC is bad.

eatingtic

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No because they are heavily invested in the US dollar, and how would they off set their countrys debt?

Gimmelfarb

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i said in the run-up in late 2013, that China was a total wild card. i think the same is still true now. no one has any idea what they will do -- and they could drop the hammer and cause some serious panic for the BTC price.

CEG5952

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Buy and sell bitcoins,

Quote from: DolanDuck on June 08, 2014, 04:01:25 PM

Quote from: Bharat on June 04, 2014, 01:55:41 AM

yes china will ban bitcoin completely soon

How can you say that, any secrets we don't know?

I can understand the mentality. We have seen months and months of bad news from the PBOC, and what they will do next is very unclear. But nothing is set in stone.

DolanDuck

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Quote from: Bharat on June 04, 2014, 01:55:41 AM

yes china will ban bitcoin completely soon

How can you say that, any secrets we don't know?

okthen

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Quote from: happyflylong on June 08, 2014, 08:47:44 AM

Quote from: giantdragon on May 19, 2014, 10:25:13 PM

Banning Bitcoin is impossible, even for China!

It is really truth(I come from China)!
There are so many currency issued in China(RMB CNY)! Most Chinese people can not find a way to protect their money. They can only sadly find that their saved money can buy less commodity day after day.

But there are still many people(small part of huge population) who have good education(some come back from west), they would like to use bitcoin to protect their "FORTUNE".

Isn't there a protective side of this "rich" people who feel obligated to spread education and freedom to the masses? Or at least middle class?
I speak out of total ignorance, of course, I'm just trying to understand what the mentality is.

CEG5952

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Buy and sell bitcoins,

It's certainly possible, given the RMB's precarious situation and the PBOC's previous positions, and history in general. Can they stop their citizens from using it? Of course not.

happyflylong

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Quote from: giantdragon on May 19, 2014, 10:25:13 PM

Banning Bitcoin is impossible, even for China!

It is really truth(I come from China)!
There are so many currency issued in China(RMB CNY)! Most Chinese people can not find a way to protect their money. They can only sadly find that their saved money can buy less commodity day after day.

But there are still many people(small part of huge population) who have good education(some come back from west), they would like to use bitcoin to protect their "FORTUNE".

nickenburg

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I dont think they can ban totally ban bitcoin at all.
Its still a coin from the people, and they will always find ways of using it.
However if they would ban it I think the goverment would be strict about it.
Maybe trhowing people that use bitcoin in jail that would be a bad thing.

STT

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They also are subject to the peoples will still. They'll ban btc if they think nobody really objects, or on the other side if BTC is a major problem for them they would press ahead with a ban anyway.

I dont think they'll ban this year just because I dont think btc is a big enough problem. Chinese people are not strictly slaves despite our perceptions, they can even leave the country and buy dollars manually I guess. The gov just doesnt want business routinely able to export or bypass the Yuan restrictions

spazzdla

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China runs over their own people with tanks when they ask questions.. WHAT THE F do you think?

Este Nuno

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amarha

Quote from: Ron~Popeil on June 03, 2014, 11:30:20 PM

Quote from: Trading on June 03, 2014, 10:58:46 AM

Bitcoin is p2p, but everyone knows that a ban in a few important countries, with their exchanges being closed, would be a major step back for bitcoin.

That would spook major investors. The price of bitcoin would drop like a stone. Perhaps, that wouldn't kill it, but it would take years to recover.

Luckily most countries have a political system that would prohibit an outright ban. In the US for example the courts would likely overturn any such attempt on constitutional grounds.

How do you figure it's unconstitutional?

Bharat

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yes china will ban bitcoin completely soon

Trading

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Nothing like healthy scepticism and hard evidence

A ban in China and Russia would be enough to really smash bitcoin.

China is by very far the biggest market: http://www.bitcoinity.org/markets/list?currency=ALL&span=24h

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