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Topic: Warning: Huobi has closed their personal bank accounts system - page 3. (Read 5598 times)

sr. member
Activity: 280
Merit: 250
Immediately converting bitcoin through a payment processor is not "accepting bitcoin." It is accepting fiat, both functionally and literally.

Newegg and Overstock are irrelevant.

You idiots.

There is a lag between the customer purchasing XBT, transferring XBT to a retailer, then the retailer liquidating XBT.  Alone, this will result in a price increase.  Basic economics.
hero member
Activity: 686
Merit: 500
Ultranode
Immediately converting bitcoin through a payment processor is not "accepting bitcoin." It is accepting fiat, both functionally and literally.

Newegg and Overstock are irrelevant.

You idiots.
legendary
Activity: 1456
Merit: 1001
This is the land of wolves now & you're not a wolf
I must be interpreting the guidelines set forth by the Chinese government, because I thought the fact that it was being operated off of a personal bank account was the whole reason the exchange has been able to run.  By it being switched to a business account (although it seems trivial), it seems like only a matter of time where deposits will stop being able to be made on that exchange?
hero member
Activity: 784
Merit: 1000
Funny how all these chinese news always come at a critical point for the market.

Great observation.  And who made this news?
+1. The Chinese seem to be playing puppet master over everyone now not just their own sheep (I mean people)! I kinda wish they would just get out of btc as they're screwing up a good thing!

BTC price should be heading north on the current good news overstock, newegg, new atm's etc.......

what the newegg news?

A friend of mine that frequents overclock.net forums told me he read Newegg was thinking of accepting BTC. They are even selling mining kits now, so this would not surprise me. Let me text him and see if he can link me to any news.

Newegg mentioned that they might accept Bitcoin in a tweet a few months ago.  That's the only peep I've heard about it.

http://thenextweb.com/insider/2014/01/10/newegg-teaser-suggests-the-us-online-retail-giant-may-begin-accepting-bitcoin-soon/
full member
Activity: 157
Merit: 100
So why doesn't BTCchina use a business account?

also Huobi used to have 2 deposit options: CEO's personal account AND business account. Today they have ONE deposit option, the business account. the number of deposit methods has now been reduced.

Usually exchanges have press releases and announcements on positive news. i.e. BTCchina adopting bitcoin vouchers. This Huobi news came out of the blue.
sr. member
Activity: 280
Merit: 250
Funny how all these chinese news always come at a critical point for the market.

Great observation.  And who made this news?
+1. The Chinese seem to be playing puppet master over everyone now not just their own sheep (I mean people)! I kinda wish they would just get out of btc as they're screwing up a good thing!

BTC price should be heading north on the current good news overstock, newegg, new atm's etc.......


It doesn't matter. If the Chinese situation is affecting the bitcoin price in a negative way, all that means is that the long-term rise in delayed and people have more time to acquire triple-digit bitcoins.

Short term, it most certainly matters.  This can make the difference between owning, say 100 XBT or 150 XBT.
sr. member
Activity: 280
Merit: 250
Funny how all these chinese news always come at a critical point for the market.

Great observation.  And who made this news?
+1. The Chinese seem to be playing puppet master over everyone now not just their own sheep (I mean people)! I kinda wish they would just get out of btc as they're screwing up a good thing!

BTC price should be heading north on the current good news overstock, newegg, new atm's etc.......

what the newegg news?

A friend of mine that frequents overclock.net forums told me he read Newegg was thinking of accepting BTC. They are even selling mining kits now, so this would not surprise me. Let me text him and see if he can link me to any news.

Newegg mentioned that they might accept Bitcoin in a tweet a few months ago.  That's the only peep I've heard about it.
sr. member
Activity: 266
Merit: 250
Funny how all these chinese news always come at a critical point for the market.

Great observation.  And who made this news?
+1. The Chinese seem to be playing puppet master over everyone now not just their own sheep (I mean people)! I kinda wish they would just get out of btc as they're screwing up a good thing!

BTC price should be heading north on the current good news overstock, newegg, new atm's etc.......


It doesn't matter. If the Chinese situation is affecting the bitcoin price in a negative way, all that means is that the long-term rise in delayed and people have more time to acquire triple-digit bitcoins.
hero member
Activity: 784
Merit: 1000
Funny how all these chinese news always come at a critical point for the market.

Great observation.  And who made this news?
+1. The Chinese seem to be playing puppet master over everyone now not just their own sheep (I mean people)! I kinda wish they would just get out of btc as they're screwing up a good thing!

BTC price should be heading north on the current good news overstock, newegg, new atm's etc.......

what the newegg news?

A friend of mine that frequents overclock.net forums told me he read Newegg was thinking of accepting BTC. They are even selling mining kits now, so this would not surprise me. Let me text him and see if he can link me to any news.
sr. member
Activity: 280
Merit: 250
China still has me pretty spooked.  My hunch is there will be more bad news out of China before the month is out.  On the positive side, it'll probably be the only source of downward price pressure for awhile.  Elsewhere, we see increased adoption and generally a positive regulatory climate.
legendary
Activity: 1904
Merit: 1037
Trusted Bitcoiner
Funny how all these chinese news always come at a critical point for the market.

Great observation.  And who made this news?
+1. The Chinese seem to be playing puppet master over everyone now not just their own sheep (I mean people)! I kinda wish they would just get out of btc as they're screwing up a good thing!

BTC price should be heading north on the current good news overstock, newegg, new atm's etc.......

what the newegg news?
full member
Activity: 219
Merit: 106
Funny how all these chinese news always come at a critical point for the market.

Great observation.  And who made this news?
+1. The Chinese seem to be playing puppet master over everyone now not just their own sheep (I mean people)! I kinda wish they would just get out of btc as they're screwing up a good thing!

BTC price should be heading north on the current good news overstock, newegg, new atm's etc.......
Fortunately things are not as simplistic as you are suggesting.
full member
Activity: 280
Merit: 100
Funny how all these chinese news always come at a critical point for the market.

Great observation.  And who made this news?
+1. The Chinese seem to be playing puppet master over everyone now not just their own sheep (I mean people)! I kinda wish they would just get out of btc as they're screwing up a good thing!

BTC price should be heading north on the current good news overstock, newegg, new atm's etc.......
legendary
Activity: 2156
Merit: 1070
When did the change occur, middle of the night on a weekend, or?  Bizarre timing.

Well, just a few hours until Monday morning business hours in Beijing.

Will be interesting to see how the Huobi traders react. (interesting to those of us who have dissolved our Bitcoin positions, an absolutely nail biting anxiety trip for the HOLDERS, at least those of them who aren't too dumb to recognise the significance of this).

What am I missing?  Houbi was accepting deposits to the CEOs personal account and now they aren't. Is that was you are saying is going to create an impending market crash?
hero member
Activity: 784
Merit: 1000
Bears scream bad news, bulls scream that bears are spreading FUD and the news is actually good news.

The fact that accounts have to opened and closed, is BAD NEWS no matter which way you think about it.

China gov't will have their way with this soon.
hero member
Activity: 840
Merit: 1000
When did the change occur, middle of the night on a weekend, or?  Bizarre timing.

Well, just a few hours until Monday morning business hours in Beijing.

Will be interesting to see how the Huobi traders react. (interesting to those of us who have dissolved our Bitcoin positions, an absolutely nail biting anxiety trip for the HOLDERS, at least those of them who aren't too dumb to recognise the significance of this).
sr. member
Activity: 662
Merit: 250
When did the change occur, middle of the night on a weekend, or?  Bizarre timing.
legendary
Activity: 1316
Merit: 1000
sr. member
Activity: 280
Merit: 250
Good we don't need them.

Agreed, but the question is what is a reasonable price for BTC if/when the Chinese exchanges get shut down?
sr. member
Activity: 294
Merit: 250
i was under the impression that they only had a personal account. have they had the business account all along?
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