awww poor China, so where's this bitcoin crash that the media keeps talking about?  I don't see it

To bad, i would like to buy more.

At least I got my entire fiat balance on gox to BTC at 900$, yeay, waited more as a week for this chance !!

What are the chances of Chinese banks boycotting btcchina and other exchanges now? I can imagine the banking partners of btcchina getting antsy at this news.

Can someone explaine these graphs? No sure what I'm seeing (trading newb)

It is not him.

Thats why I think it will go down now. Even if it goes down to 500$ thats still double the April high.
China had a big role in this boom. To pretend that this news - which I do believe is a positive one in the long run - won't affect price in the short term (next 2-3 weeks) is just putting blinkers on IMO.

I don't think so, they will be loosing allot of money and many customers start switching to other banks, the statement doesn't forbid such transactions, it was clear that individuals has to take risks when dealing with Bitcoin which is not new. we always took risks on our own bitcoin investment.

till now Bitcoin was used as commodity more than a virtual currency and till now we didn't see any bank using Bitcoin for transactions or anything related, so I really do not understand where the panic come from.

Bitcoin wasn't in the black nor the white area in china it was in the gray area, now this issue has been addressed and bitcoin is in the white area, people can buy it sell it trade it and use it as a commodity.

I see this new really positive, though the ban for organizations from using bitcoin came a bit surprising, yet understandable, do not forgot China has a record in banning websites,firms and related technology businesses, so the statement is really positive, I was afraid that they will ban Bitcoin as the whole concept.


give it some time and it will settle, people still don't understand what is going on, or rather shocked.

But every drop is met with such huge buy support... I know it's just speculators wanting to make a profit that start these dumps/pumps. I'm starting to think it would take something truly devastating to drop the price significantly from now on.

here's my take... for the record i'm a bull so this is in no way to attempt to spread fear or panic, in fact i'm happy to hear if someone else thinks there's another side to my thinking...
basically this news recalled the story with qq coin... i feel PBOC's sentiment towards virtual currencies hasn't really changed and all that sugarcoated talk is going to turn ugly once they realize that they can't put up proper capital controls around bitcoin or can't tax individuals who stashed millions away... in fact in a country where i live, 2 exchanges are undergoing new regulations as banks are now starting to scrutinize large transactions (SGD 1mil of money flow a month) for probably capital controls and tax purposes... 

Source:
http://online.wsj.com/news/articles/SB117519670114653518

Quoted:
"The People's Bank of China will strengthen management of the virtual currencies used in online games and will stay on the lookout for any assault by such virtual currencies on the real economic and financial order," the ministries and bank said in a joint statement.

and the hammerban 2 years later..

http://www.theregister.co.uk/2009/06/30/china_bans_virtual_money_to_buy_real_world_goods_and_services/

so i ask myself what happens when you have huge outflows of hard to trace illicit money? first, you strengthen the currency of the country that launders money while weakening yuan right and PBOC has to compensate that by purchasing equal amount of yuan offshore at the same time taking in massive losses... second, you lose an opportunity to tax wealthy individuals...

http://www.gfintegrity.org/content/view/581/70/

quoted:
The Chinese economy hemorrhaged US$3.79 trillion in illicit financial outflows from 2000 through 2011, according to a new report [PDF] released today by Global Financial Integrity (GFI), a Washington, DC-based research and advocacy organization.

Anybody here use bitcoin wisdom and know how to get the 4 big exchanges on one screen? I've seen it explained here once but can't seem to find how to do it.