Fill you in on Chinese Secret - Moved $20M out of China - page 2.

casinocoin

legendary

Activity: 849

Merit: 1050

CasinoCoin

Quote from: BitCoinDream on March 27, 2014, 04:08:55 PM

OP is from either of the following countries...

1. India
2. Pakistan
3. Bangladesh
4. Srilanka
5. Nepal
6. Bhutan

These country people mainly use the term 'hehe' instead of 'LoLz' Wink

Or hes 12 years old

bananas

sr. member

Activity: 364

Merit: 257

Quote from: BitCoinDream on March 27, 2014, 04:08:55 PM

OP is from either of the following countries...

1. India
2. Pakistan
3. Bangladesh
4. Srilanka
5. Nepal
6. Bhutan

These country people mainly use the term 'hehe' instead of 'LoLz' Wink

hehe and haha and their translations are the usual worldwide, except in uk and usa

rgm108

sr. member

Activity: 274

Merit: 250

OP. I hope for your sake you are not openly advertising a money laundering service.

BitCoinDream

legendary

Activity: 2366

Merit: 1204

The revolution will be digital

OP is from either of the following countries...

1. India
2. Pakistan
3. Bangladesh
4. Srilanka
5. Nepal
6. Bhutan

These country people mainly use the term 'hehe' instead of 'LoLz' Wink

The_Gloomfrost

member

Activity: 90

Merit: 10

I don't know if I can trust anyone who writes 'hehe' in their predictions.

pening

sr. member

Activity: 245

Merit: 250

Quote from: jbreher on March 27, 2014, 01:57:53 PM

Two things I find 'interesting' in OP:

- OP 'knows' that 'the Lee brothers will vanish'. OP - what do you mean by vanish?

- OP 'knows' upcoming plans of the Chinese government. OP - how do you come by this knowledge?

He doesn't - its his prediction. It not worth much as Chinese have been using commodities to do the same and other shadow banking for years and the authorities do nothing about it.

amspir

member

Activity: 112

Merit: 10

Quote from: TTM on March 27, 2014, 03:04:35 PM

Finance system of China has strict rules. I heard that a foreigner is permitted to transfer only $500 out of the country per day, for Chinese it is 50k per year. That's why some rich Chinese find Bitcoin as perfect way to move their money out of the country. If the rumour about China forbid its bank to work with exchange turn to be true, we'll have no more buy order on China, Bitcoin price will be crashing hard.

So a government clampdown makes sense, if they are trying to prevent this loophole. Any hope of the Chinese government easing currency restrictions anytime soon?

Also, who holds all the USD in the country due to the US/China trade imbalance?

CurbsideProphet

hero member

Activity: 672

Merit: 500

The Chinese control all forms of information that flows in/out of the country. What makes you believe that they don't already know that Bitcoin is being used to funnel money out? They have to know. The question is, why haven't they acted on it already?

bananas

sr. member

Activity: 364

Merit: 257

Quote from: amspir on March 27, 2014, 02:13:34 PM

Quote from: WildWes on March 27, 2014, 12:09:27 PM

Names are not important, what I can tell you is that I am only one person and a nobody per say. I have helped educate and facilitate moving $20 million out of china via the Bitcoin protocol.

I read the rumor/announcement, and it essentially says that the Chinese government will forbid trading of BTC using Chinese banks, however trading is not forbidden using foreign banks and exchanges.

How hard is it for the average Chinese citizen to transfer Yaun to a foreign bank account?

If they don't pay their taxes correctly it is impossible.
If they don't speak english it is unlikely.

And most important, they have barriers over sending money oveseas. They are not free to do it.

TTM

full member

Activity: 140

Merit: 100

Finance system of China has strict rules. I heard that a foreigner is permitted to transfer only $500 out of the country per day, for Chinese it is 50k per year. That's why some rich Chinese find Bitcoin as perfect way to move their money out of the country. If the rumour about China forbid its bank to work with exchange turn to be true, we'll have no more buy order on China, Bitcoin price will be crashing hard.

amspir

member

Activity: 112

Merit: 10

Quote from: WildWes on March 27, 2014, 12:09:27 PM

Names are not important, what I can tell you is that I am only one person and a nobody per say. I have helped educate and facilitate moving $20 million out of china via the Bitcoin protocol.

I read the rumor/announcement, and it essentially says that the Chinese government will forbid trading of BTC using Chinese banks, however trading is not forbidden using foreign banks and exchanges.

How hard is it for the average Chinese citizen to transfer Yaun to a foreign bank account?

jbreher

legendary

Activity: 3038

Merit: 1660

lose: unfind ... loose: untight

Two things I find 'interesting' in OP:

- OP 'knows' that 'the Lee brothers will vanish'. OP - what do you mean by vanish?

- OP 'knows' upcoming plans of the Chinese government. OP - how do you come by this knowledge?

bananas

sr. member

Activity: 364

Merit: 257

I never considered China a market for bitcoin, i consider a bitcoin traded under any leftist totalitarian nation of 0 value.

meanig

hero member

Activity: 531

Merit: 501

Quote from: WildWes on March 27, 2014, 12:09:27 PM

Names are not important, what I can tell you is that I am only one person and a nobody per say. I have helped educate and facilitate moving $20 million out of china via the Bitcoin protocol.

$20 million didn't leave China. $20 million worth of bitcoins left China. If the Chinese government does eventually come down hard on the exchanges bitcoins will still continue to enter and leave and China, the only difference being how people acquire them i.e. sell stuff, trade in person etc

JPage

full member

Activity: 399

Merit: 105

Quote from: tvbcof on March 27, 2014, 01:04:47 PM

We might be coming up on good time to get a great deal on a new set of kidneys!

mdr

tvbcof

legendary

Activity: 4690

Merit: 1276

Quote from: ?? on ??

Yeah, if you are competent enough to use those countermeasures or bold enough to laugh in the face of the authorities.
...

We might be coming up on good time to get a great deal on a new set of kidneys!

BTCisthefuture

sr. member

Activity: 364

Merit: 250

I would certainly assume that bitcoin is used quite a bit in China as a means for citizens (or government officials) to funnel savings outside of China.

And yes if that becomes a big thing I would expect the government in China to try to clamp down on it.

Time will tell..

If the government clamped down harder on Bitcoin it could kill its potential of ever going mainstream in China I would think. But it certainly wouldn't stop peoples desire to move their money out of China, that's something a lot of people want, try, and do in China if they have money. So bitcoin would just move to the black market and flourish there, with a lot more crimes/theft/fraud as a result.

WildWes

newbie

Activity: 14

Merit: 0

Sorry my friend I KNOW EXACTLY how China works hehe and I have been dealing with helping people get their money out of China for a long time. Why do you think BTC is popular there!?!?!?!

It has been funny for me to watch. It is simply a matter of time when they figure out billions are being shipped out via BTC. The problem is liquidity isn't enough in the outside World to manage the sales to prospective buyers....that is why the price of BTC increased so much. It was China but they could not find enough buyers in the outside World to match their demand.

Sorry bud but the Lee brothers will simply vanish and I will laugh my head off again.

I do not think BTC will end. I think BTC price will sky rocket later this year as 25% of supply is controlled by the Chinese authorities who seize $2B worth of coins. That means opportunity to me. All good with me.

msc_de

hero member

Activity: 770

Merit: 500