BTC China might be back in the game
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[url=http://www.reddit.com/r/Bitcoin/comments/1tnf8e/btcchina_adds_a_fundingwithdrawal_option_btcc/]http://www.reddit.com/r/Bitcoin/comments/1tnf8e/btcchina_adds_a_fundingwithdrawal_option_btcc/[/url]
As our ‘‘inside China man’’ already suggested they are actually using vouchers/prepaids right now. Correct me if I’m from lizhi, but this gives the Chinese people unlimited options to get into the BTC again, and creates even more anonymity for the deposits!
/edit BTC China with their solution: [url=http://www.cryptocoinsnews.com/2013/12/27/chinese-bitcoin-exchanges-find-workaround-allow-rmb-deposits-exchange-rate-rallies/]http://www.cryptocoinsnews.com/2013/12/27/chinese-bitcoin-exchanges-find-workaround-allow-rmb-deposits-exchange-rate-rallies/[/url]
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The government in China tried to regulate property prices by cutting people off from mortgage credit, raising deposit requirements for mortgages, introducing taxes etc. => AND property prices rose even further.
I think the trend for BTC in China is still upwards, but with less of those mad mood swings.
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I thought the problem was not being able to deposit the Chinese currencies onto the exchange websites, it wasn’t really about extra fee’s where the government wants to make money on. Since they got a new way to deposit theyr CNY and buy Bitcoins they fixed the problem (or at least the biggest?!) causing the free fall.
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Raising taxes through property taxes was meant to cool down the market => Higher transaction costs
For Bitcoin, cutting off access to the most popular payment options => Less liquidity for BTC China.
I’ve been with BTC China since 2011 and when I cashed out RMB, it always showed up as ‘Expenses’ in the Tenpay account. It would have been so easy to launder money back then, so the government is closing down the loop holes.
It’s a cat and mouse game.
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Exchanges in China will get a slap on their fingers really soon.
As far as I understand there is a very clear ‘line of command’ in Chinese political structure; a general idea provided by the government gets implemented at lower levels. Using vouchers for fiat deposits is clearly in conflict with the general idea of going against money laundering etc.
I think that disobedience of this kind will make thing worse in short/medium terms. -
seems to me the people of China want something that the government of China doesn’t want them to have. . .but the time for change has arrived . . . so in the short term: I think the controllers will attempt to assert their “all encompassing power” but, in the long term: they get that power from the people, who seem to be saying they want it back.
My vote is for the people of China (and the world), freedom, creativity and a better world! The people of China have been used as slave labor far to long to provide the rest of the world with cheap goods, just pick up the 5 closest things to you and look for the “made in China” label before you argue that fact. Hell, all your Christmas presents for that matter. They deserve the same life the rest of us have. Chinese kids are being held captive in factory/housing projects to make iPhones (Foxconn). They put nets up to catch the suicidal jumpers. They sign no suicide pledges to get the job. Average hourly wage in China is $1.32USD, average hours worked in a day is 12. Is this the world we want to create? No wonder they want Bitcoins.
peace
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[url=http://www.cryptocoinsnews.com/2013/12/27/chinese-bitcoin-exchanges-find-workaround-allow-rmb-deposits-exchange-rate-rallies/]http://www.cryptocoinsnews.com/2013/12/27/chinese-bitcoin-exchanges-find-workaround-allow-rmb-deposits-exchange-rate-rallies/[/url]
BTC China’s solution, specific prepaid-vouchers to use on exchanges.
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It might not be the Bitcoin they want, but the Chinese people obviously have influence on how BTC is acting for whatever purpose they are using it.
And talking about the Red Army, the current government giving the outside world a ‘‘scheme’’ of banks who may interact more freely towards the west is already a climbs of hope.
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[url=http://www.scmp.com/business/banking-finance/article/1390224/bitcoin-service-firms-best-investment-not-virtual-currency]http://www.scmp.com/business/banking-finance/article/1390224/bitcoin-service-firms-best-investment-not-virtual-currency[/url]
Thanks for posting this thread. I think it goes hand in hand with Li Ka-Shing’s recent investment into BitPay…which suggests that Chinese do want BitCoin and will find a way to get it/use it. Especially since Ka-Shing seems to think that the better investment are exchanges…which makes sense for him (rich guy) as he is counting on the transaction fees to build up.
TL;DR - Ka-Shing seems to think that the Chinese will increase their Bitcoin transactions to make his investment worthwhile.
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[quote name=“unkunku” post=“47844” timestamp=“1388165851”]
thus there was total anarchy and corruption with local warlords being “local emperors” etc.
[/quote]Local warlords is not anarchy.
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[quote name=“MemoryShock” post=“47871” timestamp=“1388174551”]
[url=http://www.scmp.com/business/banking-finance/article/1390224/bitcoin-service-firms-best-investment-not-virtual-currency]http://www.scmp.com/business/banking-finance/article/1390224/bitcoin-service-firms-best-investment-not-virtual-currency[/url]Thanks for posting this thread. I think it goes hand in hand with Li Ka-Shing’s recent investment into BitPay…which suggests that Chinese do want BitCoin and will find a way to get it/use it. Especially since Ka-Shing seems to think that the better investment are exchanges…which makes sense for him (rich guy) as he is counting on the transaction fees to build up.
TL;DR - Ka-Shing seems to think that the Chinese will increase their Bitcoin transactions to make his investment worthwhile.
[/quote]He’s not really into Bitcoin, but likes the cryto idea, which is good. He invested a lot of billions into the Chinese schools/healthcare which some people call ‘‘in business with China’’. He was born in China but lives in HK, a safe haven for his investments.
But yeah, IF anyone could bring a believable suggestion to the Chinese government it might be this man, but doubting this would help them change their minds at all. I think time will teach them after all.
/edit I said time will teach them after all, whilst being still communist so they’re kinda holding on to their own.
