Quote from: ImI on November 06, 2016, 10:21:26 PM

Quote from: chaser151 on November 06, 2016, 10:12:25 PM

Quote from: ImI on November 06, 2016, 10:00:55 PM

Quote from: chaser151 on November 06, 2016, 09:52:48 PM

You will soon see Chinese authority's actions after all these "news" "leak rumors" aka "warning to their own citizen".

you mean just like all the "authority's actions" we saw in 2013/14 after all those leak rumors?

2013 China clear declared bitcoin is not a currency but a commodity.

On the central banks website the People's Bank of China said financial institutions and payment companies cannot give pricing in, buy and sell bitcoin or insure bitcoin-linked products. On 16 December it was speculated that the People's Bank of China had issued a new ban on third-party payment processors from doing business with bitcoin exchanges.

On 1 April 2014 China Central Bank ordered commercial banks and payment companies to close bitcoin trading accounts in two weeks.Trading bitcoins by individuals is legal in China.

And this makes bitcoin completely useless in China and you should be aware of it.
Currently Chinese exchangers are accepting deposits directly via bank wire which was not allowed back in 2013. Those exchangers got their companies bank accounts closed right after the 2013 statement. However they just opened many private personal bank accounts to receive trader's fiat deposit at few months ago. I think such act in violation of regulations will be used in their prosecutions later.

Now comes back to the capital control things. guess what China will do on them?

you see the point is, there will be eventually some actions towards bitcoin from the chinese government. nevertheless this topic has been played out ad nauseam, so if it will happen OK, but dont expect anyone to start gettin hysterical about any rumors about it. that credibility is long gone.

additionally to that there exists some valid doubt if and how those "actions" would reflect the price. it could even have an opposite effect just like in venezuela where the government cracked down on bitcoin and even brought miners into jail but the weekly bitcoin volume goes through the roof anyhow.

its just a non-event and fud until actually something happens. any credibility in any kind of such rumors has been lost long time ago.

China is not venezuela.
over 85% hash power are located in China.
over 90% trading (fake or not) volume is in China.
Almost every (> 90%) pumping money come from Chinese.
You can't imagine what would it be like when that crackdown action happens. tips: much worse than the Vancouver's Housing Market lost Chinese pumping money overnight with huge sell-off waves.
Since the "warning" are already out, i guess it will happen really fast.