Quote from: testerx on December 07, 2013, 03:55:27 AM

Quote from: navidos on December 07, 2013, 02:25:53 AM

Quote from: Kenshin on December 07, 2013, 02:24:01 AM

For Fuck sake it went to $650 early. It is dropping like no tomorrow. I think China is selling their bitcoins since they can't use them.

What do you mean they can't use them

)

It's not fiat

Companies in China were also banned from pricing things in BTC, i.e. you can't treat it as a real currency in China. That's why Baidu had to pull Bitcoin acceptance.

Unfortunately while you can still speculate in China it's not going to be able to take off as a viable currency in China because of this stupid ass ruling so until they change their mind it's pretty much prevented what was a very, very, promising start in China. What we need are Chinese folks who will do what the Bitcoiners here did before congress-lobby the hell out of their politicians to make Bitcoin work.

People should first understand that the hype was about what could China bring.
Bitcoins weren't even used as a currency , baidu subsidiary got 30 spam transactions in two month , that's all.
The whole picture wasn't affected by the ruling , just dream of what may happen.