That's the thing: if all their exchange payment processor accounts are frozen / non-existent.. how are they gonna cash out?
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Topic: F*ck China! :-) (curren situation...? - page 3. (Read 3913 times)
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My take is that Communist countries are not good markets for Bitcoin.
I disagree. Probably the best market for bitcoin, since no bank would hold your assets, and it's possible to move them without being monitored by a statist government. The problem is just in exchanging in the system outside of monitoring.
+1
My take is that Communist countries are not good markets for Bitcoin.
I disagree. Probably the best market for bitcoin, since no bank would hold your assets, and it's possible to move them without being monitored by a statist government. The problem is just in exchanging in the system outside of monitoring.
In my opinion, we cannot say fu** China! 
and just forget about them.
(or can we?)
What I think is, China did a great job for Bitcoin - and I am sure our friends from China are angry about what their central bank is doing..
We can support them as they did very good job for BTC.
With China and USA together + rest of the world Price of BTC was going up and away!
Govs are trying to take BTC from us and keep their hands on it ...
It cannot happen and we should not give it back to them and their rules and regulations.
and just forget about them.(or can we?)
What I think is, China did a great job for Bitcoin - and I am sure our friends from China are angry about what their central bank is doing..
We can support them as they did very good job for BTC.
With China and USA together + rest of the world Price of BTC was going up and away!
Govs are trying to take BTC from us and keep their hands on it ...
It cannot happen and we should not give it back to them and their rules and regulations.
Have to agree, the bitcoin community will welcome them back when Bitcoin is much more widely spread and China is much further behind the game. See ya then, guys!
Yep, and when the majority of Chinese finally jump back on board, we'll see that spike happen all over again. Only next time it won't be temporary.
Have to agree, the bitcoin community will welcome them back when Bitcoin is much more widely spread and China is much further behind the game. See ya then, guys!
The Chinese will not step out of the game.
They are the number one mining equipment manufacturers and sellers - true story.
And if you think I am talking out of my ass then why did Bitmain keep ALL of their coins instead of selling?
https://blockchain.info/address/1QB8Ds5KbGYBLQa5RyDQ2sVUeSKWf7qgkZ
They are the number one mining equipment manufacturers and sellers - true story.
And if you think I am talking out of my ass then why did Bitmain keep ALL of their coins instead of selling?
https://blockchain.info/address/1QB8Ds5KbGYBLQa5RyDQ2sVUeSKWf7qgkZ
well they can always cash out in dollars or euros on other exchanges and bring the dollars or euros into china...? hm
is there any chinesse, theres a need for more detailed info.
is there any chinesse, theres a need for more detailed info.
That's the thing: if all their exchange payment processor accounts are frozen / non-existent.. how are they gonna cash out?
This is why i posture that the worst is mostly behind us. Most if not all of those payment processor entities have already stopped doing business with the exchanges.
There may be some stragglers here and there, but by and large, yesterday was April 15th for all practical purposes.
This is why i posture that the worst is mostly behind us. Most if not all of those payment processor entities have already stopped doing business with the exchanges.
There may be some stragglers here and there, but by and large, yesterday was April 15th for all practical purposes.
BTC will probably not go below $400.
Indeed. I was thinking we were going to see 300-350 before this crash was over, but now I'm not so sure... sucks because I was holding out for 350 to buy more, and I think I've missed my opportunity.
Same here, think a lot of folks thinking the same! Could go other way now;
If 14/15 April before "ban" goes down, Chinese bitcoiners might be inclined to panic pump the hell out of it, while they still legally can?
BTC will probably not go below $400.
Indeed. I was thinking we were going to see 300-350 before this crash was over, but now I'm not so sure... sucks because I was holding out for 350 to buy more, and I think I've missed my opportunity.That chart looks great
Sorry you missed your target, the market still might retest the current low...
BTC will probably not go below $400.
Indeed. I was thinking we were going to see 300-350 before this crash was over, but now I'm not so sure... sucks because I was holding out for 350 to buy more, and I think I've missed my opportunity.i dont think so... i belive they (china) will ban or really tighten the control over bitcoin, and this will become evident at one point, probably some official announcment as it was in december and then the price will drop, the question is how much it will drop...
http://bitlegal.net/
site tries to summarize 'the evolving regulatory landscape of virtual currency around the world.'
site tries to summarize 'the evolving regulatory landscape of virtual currency around the world.'
great thanks!
thailand exchange opened again lately i think.
People will find ways to get their coins again.
People will find ways to get their coins again.
http://bitlegal.net/
site tries to summarize 'the evolving regulatory landscape of virtual currency around the world.'
site tries to summarize 'the evolving regulatory landscape of virtual currency around the world.'
right, BTC is friendly in communist country
many communist gov banned BTC : china, vietnam, russia <-- is this country still communist?
Well... Bitcoin was banned in Iceland and Thailand also.
Iceland? they banned bitcoin and allow auroracoin?
many communist gov banned BTC : china, vietnam, russia <-- is this country still communist?
My take is that Communist countries are not good markets for Bitcoin.
Well... Bitcoin was banned in Iceland and Thailand also.
BTC will probably not go below $400.
Indeed. I was thinking we were going to see 300-350 before this crash was over, but now I'm not so sure... sucks because I was holding out for 350 to buy more, and I think I've missed my opportunity. My understanding is that neither China nor Russia "banned" bitcoin.
Rather the government officials there decided that commercial banks can not participate in or enable bitcoin.
I could be wrong on both accounts.
Rather the government officials there decided that commercial banks can not participate in or enable bitcoin.
I could be wrong on both accounts.
This is accurate.
They basically have decoupled the virtual currency markets from their fiat markets and imposed bans on any sort of bridging between the 2.
Because sellers are not able to cash out to the fiat market, noone in their right minds would take virtual currency as payment for even a loaf of bread. Also, because of the ban, no financial institution would dare set up an account to "host" such an endeavor and no payment processor would dare exchange that company's virtual currency profit into fiat.
However, the exchanges will still exist and people can still trade virtual currencies et all, but will have to cash out somewhere else. Given China's and Russia's love of capital controls in order to "protect" their respective fiat currencies, this is no trivial exercise.
...what do you think, i sold half of my BTC and put buy back orders at lower values.
The China story is old and tired.
BTC will probably not go below $400.
The chance to buy low is now.
My understanding is that neither China nor Russia "banned" bitcoin.
Rather the government officials there decided that commercial banks can not participate in or enable bitcoin.
I could be wrong on both accounts.
Rather the government officials there decided that commercial banks can not participate in or enable bitcoin.
I could be wrong on both accounts.
no i belive you are wrong, that was the first impression but the result really was i belive that even individuals are not allowed to use BTC russia.
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