Topic: [FUD] China prohibits banks providing settlement services to Bitcoin Exchange - page 4. (Read 18499 times)
December 16, 2013, 08:07:33 AM
How can BTC market be taken seriously in the world if some kid with his laptop can cause panic selling?
December 16, 2013, 08:06:56 AM
Yes , there're some problems on withdrawals thru Bank of china (BOC www.boc.cn ) using IE . But other banks are ok .
Wrong - this is what their support is saying - but it appears that you cannot withdraw to *any* bank using either IE or FF now (still checking into this).
The problem is that you cannot select the city or the bank in the withdrawal form.
No， there is no need to enter city details . All you need to provide is 1.bank name 2. account number 3. Your name . ( It's OKCOIN's rules, i'm not using BTCC now so not sure about BTCC )
December 16, 2013, 08:06:48 AM
Now BTCChina adding trading fees - somethings up for sure!
BTC China valued customer: To stabilize the recent turbulent Bitcoin market and minimize potential market manipulation, BTC China will end the 0% trading fee promotion, effective immediately, and revert to the 0.3% trading fee. We deeply apologize for the sudden change. BTC China, December 16, 2013
BTC China valued customer: To stabilize the recent turbulent Bitcoin market and minimize potential market manipulation, BTC China will end the 0% trading fee promotion, effective immediately, and revert to the 0.3% trading fee. We deeply apologize for the sudden change. BTC China, December 16, 2013
December 16, 2013, 08:00:45 AM
It was also reported on major news sites so who knows. I know some banks here in Canada are shutting down accounts that are used for Bitcoin
What reasons do they give when they do that? Is it legal?
Why is it legal or not?
Its their service they can terminate bank acct as they want.
China banks: https://www.google.ca/search?q=bitcoin+china+banks&rlz=1C1CHFX_enCA551CA551&oq=bitcoin+china+banks&aqs=chrome..69i57l2j69i65l3j69i60.4227j0j1&sourceid=chrome&espv=210&es_sm=122&ie=UTF-8
Canada banks: https://www.google.ca/search?q=bitcoin+china+banks&rlz=1C1CHFX_enCA551CA551&oq=bitcoin+china+banks&aqs=chrome..69i57l2j69i65l3j69i60.4227j0j1&sourceid=chrome&espv=210&es_sm=122&ie=UTF-8#es_sm=122&espv=210&q=bitcoin+canada+banks
No i'm not talking about bitcoins
I'm answering the question about legality of terminating bank accts. Ofcourse its legal. Its their service, they have the right to terminate it if they want.
Heck they can terminate your bank account if you're rude to them.
Not quite. There has to be a legal reason to the termination. For bitcoins, with all the bad press of Silk Road and everything else, the banks could have it fall under illegal or misuse of the account and funds. Like how they freeze the accounts for criminals.
Idiot, terminating accounts is NOT seizing them.
Its their business they have the right to terminate accts with customers they dont want to do business with.
Understand?
And they can be taken to court for it. They don't have to GIVE a reason to YOU but they still NEED a VALID reason. But since you have to resort to name calling online, I am done talking to you.
LOL Good luck with that thinking kiddo. I'm done explaining to an idiot anyway.
December 16, 2013, 07:53:21 AM
Yes , there're some problems on withdrawals thru Bank of china (BOC www.boc.cn ) using IE . But other banks are ok .
Wrong - this is what their support is saying - but it appears that you cannot withdraw to *any* bank using either IE or FF now (still checking into this).
The problem is that you cannot select the city or the bank in the withdrawal form.
December 16, 2013, 07:51:44 AM
It was also reported on major news sites so who knows. I know some banks here in Canada are shutting down accounts that are used for Bitcoin
What reasons do they give when they do that? Is it legal?
Why is it legal or not?
Its their service they can terminate bank acct as they want.
China banks: https://www.google.ca/search?q=bitcoin+china+banks&rlz=1C1CHFX_enCA551CA551&oq=bitcoin+china+banks&aqs=chrome..69i57l2j69i65l3j69i60.4227j0j1&sourceid=chrome&espv=210&es_sm=122&ie=UTF-8
Canada banks: https://www.google.ca/search?q=bitcoin+china+banks&rlz=1C1CHFX_enCA551CA551&oq=bitcoin+china+banks&aqs=chrome..69i57l2j69i65l3j69i60.4227j0j1&sourceid=chrome&espv=210&es_sm=122&ie=UTF-8#es_sm=122&espv=210&q=bitcoin+canada+banks
No i'm not talking about bitcoins
I'm answering the question about legality of terminating bank accts. Ofcourse its legal. Its their service, they have the right to terminate it if they want.
Heck they can terminate your bank account if you're rude to them.
Not quite. There has to be a legal reason to the termination. For bitcoins, with all the bad press of Silk Road and everything else, the banks could have it fall under illegal or misuse of the account and funds. Like how they freeze the accounts for criminals.
Idiot, terminating accounts is NOT seizing them.
Its their business they have the right to terminate accts with customers they dont want to do business with.
Understand?
And they can be taken to court for it. They don't have to GIVE a reason to YOU but they still NEED a VALID reason. But since you have to resort to name calling online, I am done talking to you.
December 16, 2013, 07:50:58 AM
Deposit and withdraw is all fine on BTCC and OKCOIN thru banks .
With btcchina the Bank Of China withdrawals are *not* working (support is currently claiming some crap about a browser bug).
Yes , there're some problems on withdrawals thru Bank of china (BOC www.boc.cn ) using IE . But other banks are ok .
December 16, 2013, 07:48:11 AM
Deposit and withdraw is all fine on BTCC and OKCOIN thru banks .
With btcchina Bank Of China withdrawals are *not* working (support is claiming some crap about a browser bug).
The meeting is real. Just the outcome is not clear.
Knowing Chinese stock markets, i'm sure this is inside trading.
That means bad news.
December 16, 2013, 07:46:51 AM
Deposit and withdraw is all fine on BTCC and OKCOIN thru banks .
With btcchina the Bank Of China withdrawals are *not* working (support is currently claiming some crap about a browser bug).
December 16, 2013, 07:45:48 AM
It was also reported on major news sites so who knows. I know some banks here in Canada are shutting down accounts that are used for Bitcoin
What reasons do they give when they do that? Is it legal?
Why is it legal or not?
Its their service they can terminate bank acct as they want.
China banks: https://www.google.ca/search?q=bitcoin+china+banks&rlz=1C1CHFX_enCA551CA551&oq=bitcoin+china+banks&aqs=chrome..69i57l2j69i65l3j69i60.4227j0j1&sourceid=chrome&espv=210&es_sm=122&ie=UTF-8
Canada banks: https://www.google.ca/search?q=bitcoin+china+banks&rlz=1C1CHFX_enCA551CA551&oq=bitcoin+china+banks&aqs=chrome..69i57l2j69i65l3j69i60.4227j0j1&sourceid=chrome&espv=210&es_sm=122&ie=UTF-8#es_sm=122&espv=210&q=bitcoin+canada+banks
No i'm not talking about bitcoins
I'm answering the question about legality of terminating bank accts. Ofcourse its legal. Its their service, they have the right to terminate it if they want.
Heck they can terminate your bank account if you're rude to them.
Not quite. There has to be a legal reason to the termination. For bitcoins, with all the bad press of Silk Road and everything else, the banks could have it fall under illegal or misuse of the account and funds. Like how they freeze the accounts for criminals.
Idiot, terminating accounts is NOT seizing them.
Its their business they have the right to terminate accts with customers they dont want to do business with.
Understand?
December 16, 2013, 07:43:53 AM
It was also reported on major news sites so who knows. I know some banks here in Canada are shutting down accounts that are used for Bitcoin
What reasons do they give when they do that? Is it legal?
Why is it legal or not?
Its their service they can terminate bank acct as they want.
China banks: https://www.google.ca/search?q=bitcoin+china+banks&rlz=1C1CHFX_enCA551CA551&oq=bitcoin+china+banks&aqs=chrome..69i57l2j69i65l3j69i60.4227j0j1&sourceid=chrome&espv=210&es_sm=122&ie=UTF-8
Canada banks: https://www.google.ca/search?q=bitcoin+china+banks&rlz=1C1CHFX_enCA551CA551&oq=bitcoin+china+banks&aqs=chrome..69i57l2j69i65l3j69i60.4227j0j1&sourceid=chrome&espv=210&es_sm=122&ie=UTF-8#es_sm=122&espv=210&q=bitcoin+canada+banks
No i'm not talking about bitcoins
I'm answering the question about legality of terminating bank accts. Ofcourse its legal. Its their service, they have the right to terminate it if they want.
Heck they can terminate your bank account if you're rude to them.
Not quite. There has to be a legal reason to the termination. For bitcoins, with all the bad press of Silk Road and everything else, the banks could have it fall under illegal or misuse of the account and funds. Like how they freeze the accounts for criminals.
December 16, 2013, 07:43:10 AM
I'd like to get a Native speaker's interpretation of this: http://www.cryptocoinsnews.com/2013/12/16/china-prohibits-banks-bitcoin-exchange/
http://www.reddit.com/r/Bitcoin/comments/1szzy3/potentially_bad_news_out_of_china_this_morning/ce2y9l7?context=3
http://www.reddit.com/r/Bitcoin/comments/1szzy3/potentially_bad_news_out_of_china_this_morning/ce2y9l7?context=3
www.cryptocoinsnews.com/2013/12/16/china-prohibits-banks-bitcoin-exchange/ It's quoted from the deleted weibo source.
Caifutong is not supporting BTCC and okcoin at this moment , Caifutong said it's only self biz adjustment （No Available news source yet this is what FUDers are using ）. Deposit and withdraw are all fine on BTCC and OKCOIN thru banks .
December 16, 2013, 07:32:58 AM
It was also reported on major news sites so who knows. I know some banks here in Canada are shutting down accounts that are used for Bitcoin
What reasons do they give when they do that? Is it legal?
Why is it legal or not?
Its their service they can terminate bank acct as they want.
China banks: https://www.google.ca/search?q=bitcoin+china+banks&rlz=1C1CHFX_enCA551CA551&oq=bitcoin+china+banks&aqs=chrome..69i57l2j69i65l3j69i60.4227j0j1&sourceid=chrome&espv=210&es_sm=122&ie=UTF-8
Canada banks: https://www.google.ca/search?q=bitcoin+china+banks&rlz=1C1CHFX_enCA551CA551&oq=bitcoin+china+banks&aqs=chrome..69i57l2j69i65l3j69i60.4227j0j1&sourceid=chrome&espv=210&es_sm=122&ie=UTF-8#es_sm=122&espv=210&q=bitcoin+canada+banks
No i'm not talking about bitcoins
I'm answering the question about legality of terminating bank accts. Ofcourse its legal. Its their service, they have the right to terminate it if they want.
Heck they can terminate your bank account if you're rude to them.
December 16, 2013, 07:29:37 AM
It was also reported on major news sites so who knows. I know some banks here in Canada are shutting down accounts that are used for Bitcoin
What reasons do they give when they do that? Is it legal?
Why is it legal or not?
Its their service they can terminate bank acct as they want.
China banks: https://www.google.ca/search?q=bitcoin+china+banks&rlz=1C1CHFX_enCA551CA551&oq=bitcoin+china+banks&aqs=chrome..69i57l2j69i65l3j69i60.4227j0j1&sourceid=chrome&espv=210&es_sm=122&ie=UTF-8
Canada banks: https://www.google.ca/search?q=bitcoin+china+banks&rlz=1C1CHFX_enCA551CA551&oq=bitcoin+china+banks&aqs=chrome..69i57l2j69i65l3j69i60.4227j0j1&sourceid=chrome&espv=210&es_sm=122&ie=UTF-8#es_sm=122&espv=210&q=bitcoin+canada+banks
December 16, 2013, 07:22:10 AM
It's not clear yet exactly what is going on but indeed tenpay is not working from btcchina (Bank Of China still seems to be working though).
Assuming that there is no problem withdrawing BTC then it might be a good idea to consider buying the cheaper coins and moving them out of the exchange pending the final outcome of this.
Assuming that there is no problem withdrawing BTC then it might be a good idea to consider buying the cheaper coins and moving them out of the exchange pending the final outcome of this.
December 16, 2013, 07:09:12 AM
I'd like to get a Native speaker's interpretation of this: http://www.cryptocoinsnews.com/2013/12/16/china-prohibits-banks-bitcoin-exchange/
EDIT: The text has now changed, could be a simple FUD case after all
And then this comment of reddit:
http://www.reddit.com/r/Bitcoin/comments/1szzy3/potentially_bad_news_out_of_china_this_morning/ce2y9l7?context=3
EDIT: The text has now changed, could be a simple FUD case after all
And then this comment of reddit:
Quote
right now, nothing reliable.
1.for now two verified weibo(Chinese tweeter) account of CEOs of 3rd party payment processor company has said so, but then both deleted the message, because of a massive panic
2.okcoin did cancel caifutong- the tencent payment gateway since yesterday, both deposit and withdraw
3.btcc also removed caifutong deposit gateway. however the withdraw is fine
okcoin confirmed the meeting is taking place this afternoon when being asked why take down caifutong. said will make an announcement about the meeting result when it's out.
thats all i know
1.for now two verified weibo(Chinese tweeter) account of CEOs of 3rd party payment processor company has said so, but then both deleted the message, because of a massive panic
2.okcoin did cancel caifutong- the tencent payment gateway since yesterday, both deposit and withdraw
3.btcc also removed caifutong deposit gateway. however the withdraw is fine
okcoin confirmed the meeting is taking place this afternoon when being asked why take down caifutong. said will make an announcement about the meeting result when it's out.
thats all i know
http://www.reddit.com/r/Bitcoin/comments/1szzy3/potentially_bad_news_out_of_china_this_morning/ce2y9l7?context=3
December 16, 2013, 07:04:00 AM
It was also reported on major news sites so who knows. I know some banks here in Canada are shutting down accounts that are used for Bitcoin
What reasons do they give when they do that? Is it legal?
Why is it legal or not?
Its their service they can terminate bank acct as they want.
December 16, 2013, 06:57:02 AM
It was also reported on major news sites so who knows. I know some banks here in Canada are shutting down accounts that are used for Bitcoin
Source?
December 16, 2013, 06:52:22 AM
Might be a good opportunity to make some quick money buying some cheap coins.
Yup - *buy* but do not *panic sell*.
December 16, 2013, 06:50:00 AM
Exactly, market is voting with huge dumping.
Well, whoever bothered to post this likely has arranged for some sort of dump of coins.
Might be a good opportunity to make some quick money buying some cheap coins.
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