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Topic: Largest Chinese Exchange Ordered Bank Shut Down By Apr 18 (Read 7781 times)

full member
Activity: 224
Merit: 100
1 DAY TO GO !!!!!   Cool

+ So Huobi and OKCoin will permanently close Deposit facility with it's former banking affiliate tomorrow.

+ BTC38 and FXBTC have already removed fiat depositing.

+ Still no communication from BTCChina

Do you guys think a new sub$350 floor is coming or already past?  Tongue

 



legendary
Activity: 3752
Merit: 1217
The price will not be so crazy anymore,since China contribute the largest daily turnover.

China used to contribute to the largest daily turnover. Especially during 2013-end. Now the US has reclaimed that position.
legendary
Activity: 2114
Merit: 1040
A Great Time to Start Something!
newbie
Activity: 40
Merit: 0
The price will not be so crazy anymore,since China contribute the largest daily turnover.
full member
Activity: 224
Merit: 100
Good points, but think we are getting a little off topic  Smiley

So with just two days to go 14th April - 18th April, has there been any new developments?


Are we to expect wild volatility over next 48Hrs....
hero member
Activity: 798
Merit: 1000
What the heck do you mean by "they won't let the people even have internet"Huh This isn't North Korea. China just banned facebook, twitter, google and other sites. The internet is much more than that.

Even Google is banned in China. That is almost like banning the entire internet. And they have got millions of spies to see which sites their citizens are visiting. Definitely not an ideal situation.


Yeah. But it's not as if they cannot access the internet, just the "major used part" banned.
legendary
Activity: 3752
Merit: 1217
What the heck do you mean by "they won't let the people even have internet"Huh This isn't North Korea. China just banned facebook, twitter, google and other sites. The internet is much more than that.

Even Google is banned in China. That is almost like banning the entire internet. And they have got millions of spies to see which sites their citizens are visiting. Definitely not an ideal situation.
hero member
Activity: 798
Merit: 1000
afaik chinese are not allowed to do international transfers
at least no yuan goes out of china without government permission

What sort of a stone age country is China? Is it possible of a mainland Chinese to travel to Hong Kong, carrying some cash which could be converted to Bitcoins there?

Yes, and an application for a "2-way visa" is extremely simple. I'm from Hong Kong.
afaik chinese are not allowed to do international transfers
at least no yuan goes out of china without government permission

What sort of a stone age country is China? Is it possible of a mainland Chinese to travel to Hong Kong, carrying some cash which could be converted to Bitcoins there?

You said it.  Makes sense they won't let the people even have internet. If they allowed that, they might start thinking too much.

WOW. WOW. I assume you have been living under a rock for 50 years?

What the heck do you mean by "they won't let the people even have internet"Huh This isn't North Korea. China just banned facebook, twitter, google and other sites. The internet is much more than that.
legendary
Activity: 1302
Merit: 1008
Core dev leaves me neg feedback #abuse #political
afaik chinese are not allowed to do international transfers
at least no yuan goes out of china without government permission

What sort of a stone age country is China? Is it possible of a mainland Chinese to travel to Hong Kong, carrying some cash which could be converted to Bitcoins there?

You said it.  Makes sense they won't let the people even have internet. If they allowed that, they might start thinking too much.
legendary
Activity: 3752
Merit: 1217
afaik chinese are not allowed to do international transfers
at least no yuan goes out of china without government permission

What sort of a stone age country is China? Is it possible of a mainland Chinese to travel to Hong Kong, carrying some cash which could be converted to Bitcoins there?
full member
Activity: 224
Merit: 100
Don't get it! how will moving overseas and incorporating offshore help Chinese bitcoiners?

Exchanges overseas accounts IBAN/SWIFT will be blacklisted??

It's like trying to fund Bitstamp from your Australian bank, they won't process it.

http://www.coindesk.com/chinese-bitcoin-exchanges-prepare-to-move-operations-overseas/

For example, if BTC China has an account in the UK, China cannot ban that.
Simple enough.

on the flipside, no chinese could buy one bitcoin through this uk-account

You would have to do international transfers.

afaik chinese are not allowed to do international transfers

at least no yuan goes out of china without government permission

Cheers guys - good points!  Hopefully they will be allowed to do a standard IMT (international wire) however, I don't think that will last long given it's still a Ƀ exchange.

Levels the playing field a bit Smiley My IMT's take 3-5 days vs Chinese bitcoiners enjoying a 2Hr funding (well up until 2 weeks ago)

I do have a few mates in Beijing, I will suggest them to look into IMT's over to BTC-e, while they still can.
ImI
legendary
Activity: 1946
Merit: 1019
Don't get it! how will moving overseas and incorporating offshore help Chinese bitcoiners?

Exchanges overseas accounts IBAN/SWIFT will be blacklisted??

It's like trying to fund Bitstamp from your Australian bank, they won't process it.

http://www.coindesk.com/chinese-bitcoin-exchanges-prepare-to-move-operations-overseas/

For example, if BTC China has an account in the UK, China cannot ban that.
Simple enough.

on the flipside, no chinese could buy one bitcoin through this uk-account

You would have to do international transfers.

afaik chinese are not allowed to do international transfers

at least no yuan goes out of china without government permission
hero member
Activity: 798
Merit: 1000
Don't get it! how will moving overseas and incorporating offshore help Chinese bitcoiners?

Exchanges overseas accounts IBAN/SWIFT will be blacklisted??

It's like trying to fund Bitstamp from your Australian bank, they won't process it.

http://www.coindesk.com/chinese-bitcoin-exchanges-prepare-to-move-operations-overseas/

For example, if BTC China has an account in the UK, China cannot ban that.
Simple enough.

on the flipside, no chinese could buy one bitcoin through this uk-account

You would have to do international transfers.
ImI
legendary
Activity: 1946
Merit: 1019
Don't get it! how will moving overseas and incorporating offshore help Chinese bitcoiners?

Exchanges overseas accounts IBAN/SWIFT will be blacklisted??

It's like trying to fund Bitstamp from your Australian bank, they won't process it.

http://www.coindesk.com/chinese-bitcoin-exchanges-prepare-to-move-operations-overseas/

For example, if BTC China has an account in the UK, China cannot ban that.
Simple enough.

on the flipside, no chinese could buy one bitcoin through this uk-account
hero member
Activity: 798
Merit: 1000
Don't get it! how will moving overseas and incorporating offshore help Chinese bitcoiners?

Exchanges overseas accounts IBAN/SWIFT will be blacklisted??

It's like trying to fund Bitstamp from your Australian bank, they won't process it.

http://www.coindesk.com/chinese-bitcoin-exchanges-prepare-to-move-operations-overseas/

For example, if BTC China has an account in the UK, China cannot ban that.
Simple enough.
full member
Activity: 224
Merit: 100
Don't get it! how will moving overseas and incorporating offshore help Chinese bitcoiners?

Exchanges overseas accounts IBAN/SWIFT will be blacklisted??

It's like trying to fund Bitstamp from your Australian bank, they won't process it.

http://www.coindesk.com/chinese-bitcoin-exchanges-prepare-to-move-operations-overseas/
hero member
Activity: 798
Merit: 1000
More news from china. Surely btc will survive.

Wrong.
It will.
sr. member
Activity: 266
Merit: 250
More news from china. Surely btc will survive.
legendary
Activity: 1258
Merit: 1027
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