Surviving the China Ban | Bitcointalksearch.org

piramida

legendary

Activity: 1176

Merit: 1010

Borsche

Quote from: favelle75 on December 05, 2013, 12:20:56 PM

Quote from: BadAss.Sx on December 05, 2013, 12:16:32 PM

Pff, what china did is what every country is going to do...they did not banned it...they just told the Chinese people to be carefull with bitcoins and that banks cannot do any bitcoin transaction like selling insurance, mortgage etc. etc. for bitcoin.

So basically BTC can't be used for any sort of REAL economy then? And that's good?

You need to really read up on bitcoin. It does not need banks for any of that.

favelle75

hero member

Activity: 910

Merit: 501

Quote from: BadAss.Sx on December 05, 2013, 12:16:32 PM

Pff, what china did is what every country is going to do...they did not banned it...they just told the Chinese people to be carefull with bitcoins and that banks cannot do any bitcoin transaction like selling insurance, mortgage etc. etc. for bitcoin.

So basically BTC can't be used for any sort of REAL economy then? And that's good?

BadAss.Sx

legendary

Activity: 1526

Merit: 1002

Bulletproof VPS/VPN/Email @ BadAss.Sx

Pff, what china did is what every country is going to do...they did not banned it...they just told the Chinese people to be carefull with bitcoins and that banks cannot do any bitcoin transaction like selling insurance, mortgage etc. etc. for bitcoin.

Odrec

member

Activity: 112

Merit: 10

Quote from: piramida on December 05, 2013, 12:05:19 PM

Quote from: Odrec on December 05, 2013, 11:42:32 AM

Well prohibiting bitcoin as a currency is kind of big.

But is it? Bitcoin is not a currency anywhere in the world and now we know for certain it isn't a currency in China. Nothing really changed here. Nobody expected China to abandon yuan (this year).

But isn't one of its main goals to become a currency that you can exchange for real goods and services? Isn't China basically relegating it into just a speculative game? Just to make it clear I'm still bullish but I'm not an expert on trading, economy or anything like that so I'm raising questions to learn more than anything... we need information to make better decisions

niothor

hero member

Activity: 826

Merit: 501

in defi we trust

Quote from: BitcoinAshley on December 05, 2013, 12:05:51 PM

Quote from: ?? on ??

Quote from: favelle75 on December 05, 2013, 11:44:31 AM

Quote from: Damnsammit on December 05, 2013, 11:43:19 AM

Quote from: wobber on December 05, 2013, 11:38:53 AM

Getting tired of morons that think China banned anything today.

No kidding. Seems to be all anyone is posting about...

What other Bitcoin "news" should supercede it? I am interested to hear.

Apparently a village in papua new guinea now accepts bitcoins for bamboos. So bullish Grin

If that were true, it'd actually be mildly bullish if it got decent coverage. It would show bitcoin's accessibility and would also show that there's really no excuse for more businesses not to accept it. Also the statist progressive rubber-bracelet-wearing do-gooders would realize that there are ways to help people in developing nations without just throwing them in refugee camps and sending over sacks of Monsanto ground corn and soy like a bunch of feedlot cattle. Mobile phones are becoming far more popular in poor areas of developing countries, and where there is a mobile phone, there is the ability to transmit and receive value without the fees or nationalist sanctions associated with Paypal, WU, etc. Even with SMS only, SMS services for moving bitcoins are popping up.
Inb4 some stupid cliche about "what's a starving villager to do with fake digital currency when he really needs seeds and clothing?" I'm talking about the areas that do already have mobil phones and methods to acquire goods for currency - they just don't have the exchangeable value, or at least virtually frictionless movement of exchangeable value, to do so.

Whats happened to this?
http://motherboard.vice.com/blog/one-third-of-kenyans-now-have-a-bitcoin-wallet

BitcoinAshley

sr. member

Activity: 448

Merit: 250

Quote from: ?? on ??

Quote from: favelle75 on December 05, 2013, 11:44:31 AM

Quote from: Damnsammit on December 05, 2013, 11:43:19 AM

Quote from: wobber on December 05, 2013, 11:38:53 AM

Getting tired of morons that think China banned anything today.

No kidding. Seems to be all anyone is posting about...

What other Bitcoin "news" should supercede it? I am interested to hear.

Apparently a village in papua new guinea now accepts bitcoins for bamboos. So bullish Grin

If that were true, it'd actually be mildly bullish if it got decent coverage. It would show bitcoin's accessibility and would also show that there's really no excuse for more businesses not to accept it. Also the statist progressive rubber-bracelet-wearing do-gooders would realize that there are ways to help people in developing nations without just throwing them in refugee camps and sending over sacks of Monsanto ground corn and soy like a bunch of feedlot cattle. Mobile phones are becoming far more popular in poor areas of developing countries, and where there is a mobile phone, there is the ability to transmit and receive value without the fees or nationalist sanctions associated with Paypal, WU, etc. Even with SMS only, SMS services for moving bitcoins are popping up. Millions of Kenyans use M-Pesa.
Inb4 some stupid cliche about "what's a starving villager to do with fake digital currency when he really needs seeds and clothing?" I'm talking about the areas that do already have mobil phones and methods to acquire goods for currency - they just don't have the exchangeable value, or at least virtually frictionless movement of exchangeable value, to do so.

piramida

legendary

Activity: 1176

Merit: 1010

Borsche

Quote from: Odrec on December 05, 2013, 11:42:32 AM

Well prohibiting bitcoin as a currency is kind of big.

But is it? Bitcoin is not a currency anywhere in the world and now we know for certain it isn't a currency in China. Nothing really changed here. Nobody expected China to abandon yuan (this year).

jerelimZ

sr. member

Activity: 447

Merit: 250

Quote from: raskolnikovx on December 05, 2013, 11:31:37 AM

For Bitcoin to be able to walk through this China Ban mess is a sign of necessary strenght.

As I understand, only Banks cannot trade Bitcoins, which is understable if you understand how Banks works.

Damnsammit

sr. member

Activity: 406

Merit: 250

Quote from: favelle75 on December 05, 2013, 11:44:31 AM

Quote from: Damnsammit on December 05, 2013, 11:43:19 AM

Quote from: wobber on December 05, 2013, 11:38:53 AM

Getting tired of morons that think China banned anything today.

No kidding. Seems to be all anyone is posting about...

What other Bitcoin "news" should supercede it? I am interested to hear.

Ron Paul says that Bitcoin could "destroy the dollar"

http://money.cnn.com/2013/12/04/technology/bitcoin-libertarian/

BitcoinAshley

sr. member

Activity: 448

Merit: 250

China Ban? What? Please provide a link and evidence to prove that "china has banned bitcoin." And yes, it actually has to prove that "China has banned bitcoin" and not just "China has issued new regulatory rules requiring AML/KYC for related businesses and forbidding major financial institutions from using it."

Example: "The United States has banned [state-recognized] gay marriage" a few years ago, you'd simply provide a link to DOMA. "The United States has banned crack cocaine" and you'd simply have to provide a link to the DEA and the controlled substances act. Should be just as easy for "China banned bitcoin," right? ;-)

Posting fake news on the speculation board is absolutely inappropriate.

UnDerDoG81

legendary

Activity: 2186

Merit: 1213

Sell sell sell everybody! Quickly! Price next week, 1 USD!

favelle75

hero member

Activity: 910

Merit: 501

Quote from: Damnsammit on December 05, 2013, 11:43:19 AM

Quote from: wobber on December 05, 2013, 11:38:53 AM

Getting tired of morons that think China banned anything today.

No kidding. Seems to be all anyone is posting about...

What other Bitcoin "news" should supercede it? I am interested to hear.

niothor

hero member

Activity: 826

Merit: 501

in defi we trust

Quote from: wobber on December 05, 2013, 11:38:53 AM

Getting tired of morons that think China banned anything today.

Common , china is banning thousands of things each year ,, they should have banned something today.

Damnsammit

sr. member

Activity: 406

Merit: 250

Quote from: wobber on December 05, 2013, 11:38:53 AM

Getting tired of morons that think China banned anything today.

No kidding. Seems to be all anyone is posting about...

favelle75

hero member

Activity: 910

Merit: 501

Quote from: wobber on December 05, 2013, 11:38:53 AM

Getting tired of morons that think China banned anything today.

The market must be full of morons then...

Odrec

member

Activity: 112

Merit: 10

Quote from: rebuilder on December 05, 2013, 11:34:45 AM

What situation? The Chinese have banned something hardly anyone has ever even done anywhere.

Well prohibiting bitcoin as a currency is kind of big. I agree banning banks from trading is irrelevant to bitcoin but the currency part is worrisome to me. Well China hasn't exactly been very efficient banning stuff either way so maybe it's not such bad news.

balanghai

sr. member

Activity: 364

Merit: 253

They could ban it within china, but it can't stop the chinese people to mine/buy/sell or speculate. If it would be illegal to hold coins in the computers in china, then use a cloud wallet.

wobber

legendary

Activity: 1064

Merit: 1001

Getting tired of morons that think China banned anything today.

rebuilder

legendary

Activity: 1615

Merit: 1000

What situation? The Chinese have banned something hardly anyone has ever even done anywhere.

raskolnikovx

full member

Activity: 186

Merit: 100

For Bitcoin to be able to walk through this China Ban mess is a sign of necessary strenght.
Cryptocoins must be able to survive this kind of situations since its in their esence to be considerer as problematic by control organisms.

I think Bitcoin will come stronger after all this.
Agree?

Topic: Surviving the China Ban (Read 1757 times)