Insider: China gov warns citizen about the incoming crack down on exchangers - page 3.

zby

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Quote from: European Central Bank on November 05, 2016, 06:14:36 PM

Quote from: zby on November 05, 2016, 06:11:05 PM

Eventually this will suppress the price -but if people realize that this is their last occasion to buy bitcoins before the gov closed the exchanges - then this can result in a mega pump.

from china? if i were in that situation i'd be having a mega dump and walking away somewhere around right about now if something like this was a dead cert.

we've yet to see how a vibrant ish bitcoin scene would weather some type of government strangulation, and forget trying to block the protocol, all you gotta do to deter 99% of people is shut the exchanges, but i don't think many people are gonna stick around for a money that has no use to them.

You are missing the point that the Chinese want to move funds out of China - bitcoin is one avenue to work around the $50K annually limit. If it becomes obvious that this avenue is being to be closed - then people will flock to move their funds as quickly as possible.

pooya87

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Quote from: chaser151 on November 05, 2016, 03:06:42 PM

Bitcoin market rate in CNY already falls below negative value compared to USD and EUR market.
~~

Bullshit in the first line so we don't even have to read on to see what the hell he is talking about.
here are the so called negative values in CNY:
OKCoin:   4,825 CNY =    714.28 USD
BTCC:    4,815 CNY =    712.81 USD
Huobi   4,821 CNY =    713.73 USD

and by the way these three exchanges have 2,549,523,000 USD combined volume in the last 24 hours alone with their prices even higher than USD markets.

BitcoinNewsMagazine

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It is always a good idea to give little consideration to FUD spread by newbie accounts, who usually have an agenda.

Caladonian

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Quote from: iamnotback on November 05, 2016, 10:41:38 PM

Quote from: chaser151 on November 05, 2016, 05:27:00 PM

Quote from: zby on November 05, 2016, 04:32:21 PM

The strange thing about this is: "restricting domestic bitcoin exchanges from moving the cryptocurrency to platforms outside the nation" - how come this can be done? Bitcoin addresses don't exist in or outside of China. I do believe that sooner or later the Chinese government will do something about bitcoin - but this ignorance about how bitcoin works shows that this warning is not really from any serious source.

And by they way - please link to those Chinese media reports that you mention - because you care to link to material about their reputation but not really to themselves this is kind of strange.

Here you go in order of the list:

http://www.cankaoxiaoxi.com/finance/20161104/1398956.shtml 中国将限制比特币兑美元防止资金外流 China gonna limit bitcoin to stop capital outflows
http://news.xinhuanet.com/fortune/2016-11/03/c_129348631.htm 比特币交易变相换汇风险重重 Bitcoin trading bypass China capital control
http://www.gfic.cn/2016/1103/5890032.shtml 单笔“换掉”500万元，用比特币转移人民币资产 Single trade with bitcoin, 5 millions CNY outflow beyond the borders

They are citing the Bloomberg article as the source. But that article was pulled.

Appears to me that the Chinese are trying to attack the public's confidence in Bitcoin, because they can't stop determined people from using Bitcoin to escape capital controls.

I don't expect any actual crackdown, just this FUD.

just trying to make people to worried about bitcoin investment its really a good timing to wait for many panic seller for sure its a risky move but those who will believe about this news will try to liquidate their btc and whales will make some party about it.

iamnotback

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Quote from: chaser151 on November 05, 2016, 05:27:00 PM

Quote from: zby on November 05, 2016, 04:32:21 PM

The strange thing about this is: "restricting domestic bitcoin exchanges from moving the cryptocurrency to platforms outside the nation" - how come this can be done? Bitcoin addresses don't exist in or outside of China. I do believe that sooner or later the Chinese government will do something about bitcoin - but this ignorance about how bitcoin works shows that this warning is not really from any serious source.

And by they way - please link to those Chinese media reports that you mention - because you care to link to material about their reputation but not really to themselves this is kind of strange.

Here you go in order of the list:

http://www.cankaoxiaoxi.com/finance/20161104/1398956.shtml 中国将限制比特币兑美元防止资金外流 China gonna limit bitcoin to stop capital outflows
http://news.xinhuanet.com/fortune/2016-11/03/c_129348631.htm 比特币交易变相换汇风险重重 Bitcoin trading bypass China capital control
http://www.gfic.cn/2016/1103/5890032.shtml 单笔“换掉”500万元，用比特币转移人民币资产 Single trade with bitcoin, 5 millions CNY outflow beyond the borders

They are citing the Bloomberg article as the source. But that article was pulled.

Appears to me that the Chinese are trying to attack the public's confidence in Bitcoin, because they can't stop determined people from using Bitcoin to escape capital controls.

I don't expect any actual crackdown, just this FUD.

European Central Bank

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Quote from: chaser151 on November 05, 2016, 08:59:56 PM

Because it's the reality happening right now right at this moment in China. Can't you see what have been changed in the China market? from +$40 premium price dropped to -$2/-$10 negative compare to usd eur market.
Chinese are getting out no matter you like or not and you know damn well what does that mean to the global bitcoin price.

i'm not disputing any of that, i ain't got a clue, i just find it silly that someone swallows some random internet guy's postulation about there being a clique inside the chinese government with a calendar with the future price written on it.

chaser151

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Quote from: European Central Bank on November 05, 2016, 08:49:46 PM

Quote from: MingLee on November 05, 2016, 08:45:17 PM

Are these state-sponsored leaks suppressing the value so the government or related officials can get in on the action, or are they trying to suppress it without receiving any direct gain from it? There's a lot to be known before anything can be determined.

why the hell are you taking what he wrote seriously? he's some guy sitting in an apartment in america probably. what the hell would he know about the inner workings of the chinese government?

Because it's the reality happening right now right at this moment in China.
Can't you see what have been changed in the China market? from +$40 premium price dropped to -$2/-$10 negative compare to usd eur market.
Chinese are getting out no matter you like or not and you know damn well what does that mean to the global bitcoin price.

European Central Bank

legendary

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Quote from: MingLee on November 05, 2016, 08:45:17 PM

Are these state-sponsored leaks suppressing the value so the government or related officials can get in on the action, or are they trying to suppress it without receiving any direct gain from it? There's a lot to be known before anything can be determined.

why the hell are you taking what he wrote seriously? he's some guy sitting in an apartment in america probably. what the hell would he know about the inner workings of the chinese government?

MingLee

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Quote from: talks_cheep on November 05, 2016, 04:14:46 PM

There's a clique inside the ruling Chinese government that wants to put a brake on the btc price climbing too high. They have engaged in these clandestine "leakings" of the news to manipulate the prices. They may continue to suppress the price. They want to lower the price down to 400 this year. They are aiming for 300 in January 2017.

Are these state-sponsored leaks suppressing the value so the government or related officials can get in on the action, or are they trying to suppress it without receiving any direct gain from it? There's a lot to be known before anything can be determined.

r0ach

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This thread = typical new account spam by lying Chinamen that can't cover their open shorts.

Date Registered: Today at 06:59:48 PM

Look at "Talks_Cheep" post history. He has 50 pages in a row of same garbage claiming price will go to 0 any second for 2 years straight.

https://bitcointalksearch.org/user/talkscheep-546102

JimRussell

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The chinks will have to try harder to create panic, I wouldn't mind some cheaper BTC

European Central Bank

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Quote from: zby on November 05, 2016, 06:11:05 PM

Eventually this will suppress the price -but if people realize that this is their last occasion to buy bitcoins before the gov closed the exchanges - then this can result in a mega pump.

from china? if i were in that situation i'd be having a mega dump and walking away somewhere around right about now if something like this was a dead cert.

we've yet to see how a vibrant ish bitcoin scene would weather some type of government strangulation, and forget trying to block the protocol, all you gotta do to deter 99% of people is shut the exchanges, but i don't think many people are gonna stick around for a money that has no use to them.

zby

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Quote from: European Central Bank on November 05, 2016, 06:07:31 PM

surely not positive. even if it's smoke and mirrors this time, it's 100% inevitable that it will happen some day. the chinese government ain't gonna sit back and watch a giant hole grow bigger. better it happens now and once and for all.

Eventually this will suppress the price -but if people realize that this is their last occasion to buy bitcoins before the gov closed the exchanges - then this can result in a mega pump.

chaser151

newbie

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Quote from: zby on November 05, 2016, 06:00:58 PM

Now that starts to look plausible.

Now - what would be the effect of this? This is very hard to evaluate - it might depress the price but it might as well lead to many Chinese people buying bitcoins while they can.

These news are like a clear and loud warning. so when the gov / central bank do the actions, their citizen can't blame the authority.
"Don't say we didn't warn you. we did many times, you break the law and take the risk to gamble. this is what you get. blame no one."

European Central Bank

legendary

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surely not positive. even if it's smoke and mirrors this time, it's 100% inevitable that it will happen some day. the chinese government ain't gonna sit back and watch a giant hole grow bigger. better it happens now and once and for all.

zby

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Now that starts to look plausible.

Now - what would be the effect of this? This is very hard to evaluate - it might depress the price but it might as well lead to many Chinese people buying bitcoins while they can.

chaser151

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Quote from: zby on November 05, 2016, 04:32:21 PM

The strange thing about this is: "restricting domestic bitcoin exchanges from moving the cryptocurrency to platforms outside the nation" - how come this can be done? Bitcoin addresses don't exist in or outside of China. I do believe that sooner or later the Chinese government will do something about bitcoin - but this ignorance about how bitcoin works shows that this warning is not really from any serious source.

And by they way - please link to those Chinese media reports that you mention - because you care to link to material about their reputation but not really to themselves this is kind of strange.

Here you go in order of the list:

http://www.cankaoxiaoxi.com/finance/20161104/1398956.shtml 中国将限制比特币兑美元防止资金外流 China gonna limit bitcoin to stop capital outflows
http://news.xinhuanet.com/fortune/2016-11/03/c_129348631.htm 比特币交易变相换汇风险重重 Bitcoin trading bypass China capital control
http://www.gfic.cn/2016/1103/5890032.shtml 单笔“换掉”500万元，用比特币转移人民币资产 Single trade with bitcoin, 5 millions CNY outflow beyond the borders

+There are many more reports:
http://finance.sina.com.cn/roll/2016-11-03/doc-ifxxnffr6697811.shtml
https://hk.news.yahoo.com/%E6%AF%94%E7%89%B9%E5%B9%A3%E6%88%90%E8%B5%B0%E8%B3%87%E6%96%B0%E5%AF%B5-221127801--finance.html 比特幣成走資新寵
http://hk.apple.nextmedia.com/financeestate/art/20161104/19822241 人行擬堵塞比特幣走資
http://www.todaycommercialnews.com/economics/20855 傳內地堵比特幣走資- 加拿大商報Today Commercial News
etc etc

zby

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Activity: 1592

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The strange thing about this is: "restricting domestic bitcoin exchanges from moving the cryptocurrency to platforms outside the nation" - how come this can be done? Bitcoin addresses don't exist in or outside of China. I do believe that sooner or later the Chinese government will do something about bitcoin - but this ignorance about how bitcoin works shows that this warning is not really from any serious source.

And by they way - please link to those Chinese media reports that you mention - because you care to link to material about their reputation but not really to themselves this is kind of strange.

European Central Bank

legendary

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why aren't you keeping this to yourself and shorting? oh, wait....

Pattberry

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Quote from: talks_cheep on November 05, 2016, 04:14:46 PM

There's a clique inside the ruling Chinese government that wants to put a brake on the btc price climbing too high. They have engaged in these clandestine "leakings" of the news to manipulate the prices. They may continue to suppress the price. They want to lower the price down to 400 this year. They are aiming for 300 in January 2017.

what makes you think that they want to suppress the price of bitcoin to $300 ,what good is to the Chinese for strangling the price growth of bitcoin,i am sure the market reacted to these false news and there is no way these news are true ,These sort of FUD are created now and then when the price of bitcoin seems to move towards $1000 .

Topic: Insider: China gov warns citizen about the incoming crack down on exchangers - page 3. (Read 3432 times)