OKCoin issued a statement | Bitcointalksearch.org

TravelMug

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Quote from: xdev on September 09, 2017, 06:47:15 AM

Also interesting that Caixin Global on Twitter hasnt shared the article (or removed it?)

https://twitter.com/caixin

Smells like sensationalist news to me. The author and the tabloid got a few more clicks out of basically spinning what was reported on last week (ICO ban) and making some misinterpretations

The usual click and bait for the news articles that releases this statement. As I have mentioned a while ago, bitcoin is really popular now a days and they are riding on this popularity. But the damaged has been done already. Bitcoin market already reaction from this sensationalized news. It seems that Caixin is the source of all this news lately, but as you pointed out, there twitter didn't mentioned about it at all. Or maybe this is just 'lost in translation'? But then again when the dust is clear, everybody can go back to bitcoin again and made another push at $5000.

xdev

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Also interesting that Caixin Global on Twitter hasnt shared the article (or removed it?)

https://twitter.com/caixin

Smells like sensationalist news to me. The author and the tabloid got a few more clicks out of basically spinning what was reported on last week (ICO ban) and making some misinterpretations

xdev

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Huobi is also releasing a statement: https://m.weibo.cn/status/4150139520708019

Basically, they received alot of notifications from worried users by web or mail and they can also confirm that they have not received any notifications from chinese officials and have neither been able to verify the source of the news.

They will comply to whatever regulations local authorities might inflict and they will work hard to make sure that the users funds are secure.

They are also stating that the news stated nowhere that Bitcoin trading would be illegal and are urging the users to not panic.

Basically, almost the same statement as BTCC did last night on weibo.cn

juri543

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The news just showing how big potential the cryptoworld has. Its still very very small market if you compare it to any other more mature financial market but it captured the attention of the big sharks. They will come into cryptoworld even more massively but before they will launch couple of bad events just to make themself the smooth entry and biased legislation approved from wide public. First scare the wide public off then seed the idea about need of regulation and at the end the smooth entrance.

BitcoinHodler

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the only thing to remember is that the news is not 100% lie. it is more like a distorted truth that came to us yesterday. the Chinese government has been on the mission to regulate bitcoin and all the related businesses regarding it. including bitcoin and altcoins exchanges.

whenever they say something, it is all about these regulations.

but whenever they say something the media distorts it to a much worse scenario. like yesterday whey they said "...banned bitcoin...".

LeGaulois

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So, there is still not any official news about this right? Do they start to use the fake news method to Bitcoin to take advantages? Damn maybe we should do the same (The federal reserve will start to use Bitcoin #MAGA !) Or do like those people and take the opportunity to buy bitcoin cheaper than it was

dothebeats

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Quote from: 100bitcoin on September 09, 2017, 05:45:16 AM

One point must be clear to everyone. Chinese authorities are NOT against bitcoin. If they were, they would have started with mining firms. Instead, they are trying to regulate exchanges. This is indeed good for bitcoin, as lots of money will flow from ScamCoins to Bitcoin.

A valid point. Before they issue a crack down on bitcoin, why not go to where bitcoins come from first? Also, these mining firms bring in tons of bitcoins per day. If they were to ban bitcoin, they would go to the root first, exchanges next.

The rumor was a success anyway, it caused a crash that people could take advantage from.

xypos

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Quote from: xdev on September 09, 2017, 05:37:12 AM

OKCoin just released a short statement following yesterdays rumoured China bitcoin ban.

1. They are confirming that they have not received or heard anything from chinese officials. They have not been able confirm the validity of yesterdays news

2. If there will be further regulations then OKcoin will comply and make the necessary changes (such as disabling BTC->CNY trades). The priority is to keep the users funds secure and to comply with local regulations

https://www.okcoin.cn/t-2510465.html

Well this i think confirms that the so called report from caixin is nothing more than rumored news. It is not acutally confirmed by anyone, the chinese government has not released any sort of official statement confirming that this is correct.

Anyways, bitcoin is designed to survive government bans because there is no central point of failure.

Since it is decentralized people can always trade p2p on localbitcoins or even on other platforms. There is nothing the chinese government can do to stop that.

Kemarit

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Quote from: xdev on September 09, 2017, 05:37:12 AM

OKCoin just released a short statement following yesterdays rumoured China bitcoin ban.

1. They are confirming that they have not received or heard anything from chinese officials. They have not been able confirm the validity of yesterdays news

2. If there will be further regulations then OKcoin will comply and make the necessary changes (such as disabling BTC->CNY trades). The priority is to keep the users funds secure and to comply with local regulations

https://www.okcoin.cn/t-2510465.html

I guess its nice to hear someone from inside the Mainland and quell the speculation about the Chinese closing on the exchanges. So its really fake news, whose intention is to really spread FUD around the market to create panic amongst newbie to sold off their coins. Again, the timing is really bad for the Chinese to make such decision. Actually, they don't have a choice, they really need to comply otherwise they will be shut down by PBoC. But at least we heard it from them, not like those articles that spread like wildfires causing major panic among us.

Palmerson

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Quote from: xdev on September 09, 2017, 05:37:12 AM

OKCoin just released a short statement following yesterdays rumoured China bitcoin ban.

1. They are confirming that they have not received or heard anything from chinese officials. They have not been able confirm the validity of yesterdays news

2. If there will be further regulations then OKcoin will comply and make the necessary changes (such as disabling BTC->CNY trades). The priority is to keep the users funds secure and to comply with local regulations

https://www.okcoin.cn/t-2510465.html

And then what? The Chinese will to change bitcoins to dollars. Dollars can be exchanged or spent in any country of the world. Yuan and previously did not need anyone. Now it will be even less in demand. Who will benefit from this.

p0peji

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Does anyone have an idea how often Caixin has been wrong vs right?

100bitcoin

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One point must be clear to everyone. Chinese authorities are NOT against bitcoin. If they were, they would have started with mining firms. Instead, they are trying to regulate exchanges. This is indeed good for bitcoin, as lots of money will flow from ScamCoins to Bitcoin.

xdev

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OKCoin just released a short statement following yesterdays rumoured China bitcoin ban.

1. They are confirming that they have not received or heard anything from chinese officials. They have not been able confirm the validity of yesterdays news

2. If there will be further regulations then OKcoin will comply and make the necessary changes (such as disabling BTC->CNY trades). The priority is to keep the users funds secure and to comply with local regulations

https://www.okcoin.cn/t-2510465.html

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