China rumors shake bitcoin markets, even as PBOC corrects it

Some fake news came out saying china banned bitcoin again (china just killed mobile banking operations of tenpay and alipay recently) and btc took a dump, and stayed there even as PBOC has come out to correct it. Interesting that PBOC came out to say a few mmm The story about the Chinese central bank banning bitcoin transactions was fabricated and has now been removed from the Sina financial live coinwatcher 14 points 3 days ago* UPDATE Sina is back and saying that the central bank did issue…
Continue Reading »

The Best of Times, The Worst of Times, Chinese New Year draws closer: The China Trust Crisis and Bitcoin Deadline

Update: Reports are out that ICBC Credit Trust arranged restructuring pact, details unknown, China watch The Best of Times, The Worst of Times, Chinese New Year draws closer: The China Trust Crisis and Bitcoin Deadline The TL;DR for those who have not hear of the China trust issue. ICBC (Industrial & Commercial Bank of China), the largest bank IN THE WORLD (and china of course) () had peddled a Shadow Banking Instrument (banking activities such as loan taking place outside the usual banking system) China Credit Trust. The…
Continue Reading »

CCTV (china central television) international covers Bitcoin takeup in Hong Kong (it’s in english)

It's in English, since its the international channel for CCTV Talks about Hong Kong trying to become bitcoin capital of the world despite restrictions in Mainland. A guzheng academy that takes bitcoins in the eastern part of HK. Customers in Silicon Valley. 15%-20% to become 30% of her takings, to her bitcoin is quick, no fees, and very convenient Interviews another person doing a bitcoin trading platform, phd and degree in engineering. Cloud system stores data in US. Talks about mainland restrictions, such as alibaba. Talks about the…
Continue Reading »

Reddit: PBoC Press Conference, says no intention to suppress or discriminate bitcoin but it is not a currency, people need to understand the bitcoin risks

Update: CCTV ver Update: Starts from about 1 hr 10min ++ 1h16: 1) Bitcoin is not a currency 2) Bitcoin speculation can lead to loss, so appropriate measures are required 1h 17: Bitcoin is an intangible good. It is not a currency Currencies need to be a medium of exchange, medium of exchange for currencies. It has to be accepted widely, and not just by a few people. Currencies have to have inherent value. Gold for example is widely accepted. Gold also has inherent value, but is unfortunately…
Continue Reading »

2014: China coming back online, and back into the game? Mtgox at 1000 once more

Update: 796 above 1125, mtgox held above 1000 So we have had wall street getting into the game as one year closed and another begun, even having a junior bitcoin trader role. China, which has in 2013, pretty much single handedly raised bitcoin to 1200+ highs with American hedge funds gleefully following along, has also pretty much single handedly cleaving it into thirds in a matter of days, dropping to lows of $300-$400+ on certain exchanges. Having bounced back to a tenuous $700, we have it testing and…
Continue Reading »

Before Yellen, Zerohedge on bitcoin crash and PBOC DDOS retaliation

for those wondering about the chinese statement, they basically finger bitcoin hackers as the ones who took down PBOC site (with DDOS) and also their weibo, and that the hackers are foreign. They take this to be retaliation for the PBOC regulations causing the selloff in cryptocoin markets, and are fixing their sites in the meantime. 央行网站疑遭比特币玩家攻击 2013-12-18 18:13:02  有0人参与 分享到 中国人民银行网站和微博今日同时被黑,网站间歇性打不开,新浪微博@央行微播 评论冲入大量比特币水军,传来自国外,估计与今日央行监管比特币造成其市场大跌有关。央行相关人士表示网站正在修复。 央行日前约谈国内第三方支付公司,明确要求关闭比特币、莱特币等交易通道。受此打击,比特币价格大跌。有分析称,比特币或将退出中国市场。 此前12月5日,央行发布《关于防范比特币风险的通知》(下称《通知》),不承认比特币的合法地位,比特币价格随即大跌。 The china source: From Zerohedge Bitcoin Crashes After China Bans New Deposits; PBOC Gets DDOSed In Retaliation Yesterday it was the US Treasury's Financial…
Continue Reading »

China Bitcoin Watch: Lots of Confusion today, BTCChina translation, Bloomberg reports

Lots of rumors and activity overnight, unclear as to what has happened as of PBOC. This reminds me of what Kapron of Kapronasia had said at the bitcoin conference about China's capacity to freeze things. (he's interviewed by bloomberg further down below) Update: re the btcchina translation, it's the translation for the Dec 5 statements which was "vague", and their clarification seems to be that they are putting their feet onto bitcoin. "third-party payment service providers to stop offering clearing services to online Bitcoin exchanges," by the new…
Continue Reading »

Baker Mckenzie on Bitcoin (China Daily HK, Bill Fuggle Sydney) via Quarebeta

There is a bitcoin and law mentions compilation via Quarebeta: Baker & Mckenzie on Bitcoin From China Daily, Asia Weekly, we have some words from a partner at Baker on bitcoin “It is difficult to say what bitcoin is from a legal perspective,” says Bill Fuggle, a partner at international law firm Baker & McKenzie, who specializes in financial markets and has worked with bitcoin players.   One approach to regulate it would be to change the definitions of what a financial instrument is, and make them broad…
Continue Reading »

From TechinAsia: Despite panic, China’s regulation of Bitcoin leaves room for optimism by Jack Wang

Tech in Asia is a popular online tech news site started in Singapore! From Despite panic, China’s regulation of Bitcoin leaves room for optimism Jack Wang is a cofounder of Dearcoin, a Bitcoin startup based in Beijing. He can be reached at or @jw2856 on WeChat. On December 5, 2013, the People’s Bank of China, Ministry of Information Industry, China Banking Regulatory Commission, China Securities Regulatory Commission, and China Insurance Regulatory Commission jointly issued a notice warning citizens about the risks of Bitcoin. The immediate response was a steep drop in…
Continue Reading »

Bitcoin takes out 600 usd mark, challenges 700, US Agencies say bitcoins legitimate benefits, Forbes on BTCChina

Update: Bitcoin goes for 1100 before dropping Bitcoin soared past 600 today, tested 675, at writing about 663, quite a ride. We will see if it can shoot past the 700 mark. Looks like I was wrong about it wavering a little at this points. Had a high of 4879 CNY/RMB (chinese yuan/renminbi) in BTCChina. Litecoin has caught up We have litecoin fighting 8 to 9 usd. That pushes it above the recent 1:100 with bitcoin, and a bit closer to its previous parity. Perhaps BTCChina litecoin implementation?…
Continue Reading »
Litecoin: LLnSyo8rqbJng11b3whVUXSr6nWMtmT1zU
Bitcoin: 158MikZVM8yQviLcvxu1aahTysSxDUaePr