Topic: Ok, let China ban bitcoin, we do NOT need them. - page 3. (Read 4601 times)
"The only one way out for bitcoin websites is moving their servers abroad and using the service of foreign banks and payment companies,"
should not be too hard
Chinese government should not ban BTC in the shadows, but very possible development in other aspects of block BTC.
Your analysis makes sense. 
Honestly I'm very surprised China has come this far along with bitoin and the talk of them banning it is far less surprising to me. They have people who won't follow the rules anyway so it's is just gonna be a behind the scenes type thing which it is in most places.
Phuck china .. their volume is 60%, true. But what that means is that 1200 minus 60%, leaves us with 400-500$ even if the ban was 100% effective
which it will NOT be ever
And there is tons of massive good news that are being ignored. UBS, Isle of Man, BTC Superfund and many more. This is an orchestrated bear market! Anything below $400 is a buying opportunity IMHO
http://www.coindesk.com/isle-man-welcomes-digital-currency-exchanges-license-required/
http://www.coindesk.com/swiss-bank-ubs-banks-absorb-benefits-bitcoin/
http://www.coindesk.com/new-active-trading-bitcoin-fund-seeks-uk-investors/
The large scale investors are actually good because they will provide liquidity and market depth.
which it will NOT be ever
And there is tons of massive good news that are being ignored. UBS, Isle of Man, BTC Superfund and many more. This is an orchestrated bear market! Anything below $400 is a buying opportunity IMHO
http://www.coindesk.com/isle-man-welcomes-digital-currency-exchanges-license-required/
http://www.coindesk.com/swiss-bank-ubs-banks-absorb-benefits-bitcoin/
http://www.coindesk.com/new-active-trading-bitcoin-fund-seeks-uk-investors/
The large scale investors are actually good because they will provide liquidity and market depth.
Actually many Bitcoin investors will not happy if China coin market being shutdown completely. Bitcoin made it to $1000 on December because Chinese traders was in buying spree. Their huge demand pushed the price to the moon. Without trading volume from China, the price would be 200-300 for now, not 500.
We're headed there now (200-300 range), and everyone will just have to accept it. For a few weeks or months, until it shoots back up to 1,000 by the creation of some new very user-friendly app 
It's impossible for any country to ban bitcoin unless they take the entire grid offline.
Main purpose of Chinese government is not to ban Bitcoin completely, all they want is to stop Bitcoin trading from touching banking system. Big amount of capital are being sneaked out of China everyday via cryptocurrency, that's the reason for this ban.your wrong
citizens of china can set up bitcoin exchanges using that citizen/individuals bank account & balance, they just need a Telecommunications Regulations licence. the same as any other country.
the news is that BANKS!!! cannot buy bitcoin directly for BANKS investment portfolio.. this has nothing to do with restricting individual customers from doing what they want with their account balances.
again ill make it clear
only bank board members cannot buy bitcoins for banking investment portfolios.. citizens are still free to invest how they like using their own bank accounts
i still wonder where people get this fud from and then do not research the truth or simply ignore the truth.. damn i hate sheeple
+infinity
China is buying... I'd even wager so is Russia.
HOLD, HOLD STRONG
HOLD, HOLD STRONG
It's impossible for any country to ban bitcoin unless they take the entire grid offline.
Main purpose of Chinese government is not to ban Bitcoin completely, all they want is to stop Bitcoin trading from touching banking system. Big amount of capital are being sneaked out of China everyday via cryptocurrency, that's the reason for this ban.your wrong
citizens of china can set up bitcoin exchanges using that citizen/individuals bank account & balance, they just need a Telecommunications Regulations licence. the same as any other country.
the news is that BANKS!!! cannot buy bitcoin directly for BANKS investment portfolio.. this has nothing to do with restricting individual customers from doing what they want with their account balances.
again ill make it clear
only bank board members cannot buy bitcoins for banking investment portfolios.. citizens are still free to invest how they like using their own bank accounts
i still wonder where people get this fud from and then do not research the truth or simply ignore the truth.. damn i hate sheeple
http://english.caixin.com/2014-03-27/100657518.html
Basically all bank accounts of exchanges will be closed, which mean traders cannot deposit fiat into exchanges. They must find another way such as cash deposit at exchange's office, this is very inconvenient method and trading volume will be reduced drastically.
The news is still a rumor, but currently there is no official information from Chinese banks to deny or confirm this rumor. The article was published on a reputable news service about finance in China, and it is now cited by Bloomberg, so the FUD is likely to be true.
It seem you are the only one here who haven't not researched enough.
It's impossible for any country to ban bitcoin unless they take the entire grid offline.
Main purpose of Chinese government is not to ban Bitcoin completely, all they want is to stop Bitcoin trading from touching banking system. Big amount of capital are being sneaked out of China everyday via cryptocurrency, that's the reason for this ban.your wrong
citizens of china can set up bitcoin exchanges using that citizen/individuals bank account & balance, they just need a Telecommunications Regulations licence. the same as any other country.
the news is that BANKS!!! cannot buy bitcoin directly for BANKS investment portfolio.. this has nothing to do with restricting individual customers from doing what they want with their account balances.
again ill make it clear
only bank board members cannot buy bitcoins for banking investment portfolios.. citizens are still free to invest how they like using their own bank accounts
i still wonder where people get this fud from and then do not research the truth or simply ignore the truth.. damn i hate sheeple
It's impossible for any country to ban bitcoin unless they take the entire grid offline.
Main purpose of Chinese government is not to ban Bitcoin completely, all they want is to stop Bitcoin trading from touching banking system. Big amount of capital are being sneaked out of China everyday via cryptocurrency, that's the reason for this ban. 
It's impossible for any country to ban bitcoin unless they take the entire grid offline.
And only those that are participants in the system can be regulated: merchants, banks, exchanges, etc. Once the people become aware of this fact and once the government begins to understand the taxation opportunities of an inevitably unstoppable currency, it will regulate not ban.
And only those that are participants in the system can be regulated: merchants, banks, exchanges, etc. Once the people become aware of this fact and once the government begins to understand the taxation opportunities of an inevitably unstoppable currency, it will regulate not ban.
the main idea seems to be stop people who have amassed vast sums of wealth from converting all of that into BTC where the authorities cannot get at it, and then fleeing the country...
The significant part of that is fleeing the country. I pretty sure China requires its citizens to get an exit visa. Having all that wealth is worthless if you can't leave the country and spend it.
The trading volume in Chinese exchanges so large is because they provided FREE TRADE. actually, it is not so many trades. And in my view, 99% Chinese "investors" is speculating in short-term trades. And in China, it is no use of bitcoin except speculating. Of course, it is caused by gov banned business to accept btc.
I'm just trying to understand the Chinese situation, for instance, are mainland Chinese citizens allowed to visit Hong Kong and participate in that economy as a tourist? Do the same restrictions apply in the Shanghai trade zone?
When you trade on a Chinese exchange for speculation, are you actually allowed to withdrawal in BTC? Are there underground street-level bitcoin/Yaun traders?
Also, what is feel for if/when the Chinese government will ease up on currency restrictions?
the simplest way to think about it is that in china BTC is not considered "money" by the authorities so Banks are not allowed to use it and merchants cannot offer goods for it. if people want to buy and sell BTC over the counter just as they would rice for example I doubt anyone cares.
the main idea seems to be stop people who have amassed vast sums of wealth from converting all of that into BTC where the authorities cannot get at it, and then fleeing the country...
china has not banned citizens from using bitcoin. they have only banned banks and government institutions from using bitcoin for THIER investment portfolio.
banks wont buy bitcoin to hoard. but citizens can use bank account to wire transfer between other citizens and services, so that citizens can hoard coin.
as for the bitcoin value.
if only 12 million people invested $1000 of their life savings into bitcoin. then each bitcoin (12mill in current circulation) would be worth $1000 each
0.17% of population.
in 2140 if only 1% of world population(estimated at 21billion+) owned all of 21million coins then each person(210m) would only have 0.1BTC, which if they all only wanted to risk $1000 of their lifetime investment into bitcoin then 1BTC would be $10k
now imagine if the average person wanted to put not just 1 month salary at minimum wage. but 2,3,6,12 months of salary.. and imagine that over 1% of the world wanted bitcoin. then the btc value would far far far exceed $10k a coins.
the potential is massive. we just need to shed away the small numbers of emotional and inexperienced traders, panicking at every second. and have the smarter people start using bitcoin, who dont panic over false news.
banks wont buy bitcoin to hoard. but citizens can use bank account to wire transfer between other citizens and services, so that citizens can hoard coin.
as for the bitcoin value.
if only 12 million people invested $1000 of their life savings into bitcoin. then each bitcoin (12mill in current circulation) would be worth $1000 each
0.17% of population.
in 2140 if only 1% of world population(estimated at 21billion+) owned all of 21million coins then each person(210m) would only have 0.1BTC, which if they all only wanted to risk $1000 of their lifetime investment into bitcoin then 1BTC would be $10k
now imagine if the average person wanted to put not just 1 month salary at minimum wage. but 2,3,6,12 months of salary.. and imagine that over 1% of the world wanted bitcoin. then the btc value would far far far exceed $10k a coins.
the potential is massive. we just need to shed away the small numbers of emotional and inexperienced traders, panicking at every second. and have the smarter people start using bitcoin, who dont panic over false news.
I think you said very good. By the way, I also Chinese.
The trading volume in Chinese exchanges so large is because they provided FREE TRADE. actually, it is not so many trades. And in my view, 99% Chinese "investors" is speculating in short-term trades. And in China, it is no use of bitcoin except speculating. Of course, it is caused by gov banned business to accept btc.
I'm just trying to understand the Chinese situation, for instance, are mainland Chinese citizens allowed to visit Hong Kong and participate in that economy as a tourist? Do the same restrictions apply in the Shanghai trade zone?
When you trade on a Chinese exchange for speculation, are you actually allowed to withdrawal in BTC? Are there underground street-level bitcoin/Yaun traders?
Also, what is feel for if/when the Chinese government will ease up on currency restrictions?
I will repeat myself:
NO COUNTRY WILL EVER BAN BITCOIN!!!!!
WHY?
Because black markets will emerge.....
Thank you
NO COUNTRY WILL EVER BAN BITCOIN!!!!!
WHY?
Because black markets will emerge.....
Thank you
China "ban" is unverified rumors, unless I missed some big (verified) news.
I think it's only a matter of time untill china is back. And I believe we do need china because think of how many people are in china . That's a lot of bitcoin usage and this caused price to go up so high. If China comes back our coins are going to double tripple or even 10x what they are worth now
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