guess Chinese people don't understand that disabled exchanges will mean price will sky rocket for bitcoin because there will be no easy way to buy them. And they will need them to move wealth out of the country.
Good point.
This occurred to me, too. But I don't think this will be the overwhelming sentiment:
1) Chinese regulators have been saying one thing and doing another behind the scenes. What else do they have cooked up? You can deposit from an exchange to a bank account still, but for how long?
2) De-coupling exchanges from banks is a blow to the legitimacy and value of the coin.
3) No easy channel for fiat -> exchange means a serious limit to speculative capital coming in from China.
4) The Chinese anticipate a big drop because of this regulation and will dump their coins on whatever exchange they can.
5) Sure, Bitcoin will still act as a vehicle for moving wealth out of China, but it gets to a point where it is so difficult to do that your typical person will find other options.
Basically, if the typical Chinese bitcoin investor wore his long-term thinking cap, there wouldn't be much of a correction. I just don't think that will be the case.
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