Quote from: Bitsurprise on December 07, 2013, 10:11:18 AM

Quote from: AnonyMint on December 07, 2013, 09:47:05 AM

Quote from: Bitsurprise on December 07, 2013, 09:34:18 AM

No they didn't , you just imagining things because you hold BTC and its dropping so fast get back to reality they said its not a currency no way and currently banned for financial institutions , it shows you China may ban it at any given time without any given notice , virtual commodity ? what the hell that mean ...

Your retort is irrational, as I am sure all the No votes are. I have studied the ruling and analyzed what it legally says. Your paranoia does not agree with the reality of what the ruling says.

Pass your Bitcoins to strong hands who have sound logic and know how to read what the ruling actually says. And who understand that China is slowly liberalizing, while the west is slowing turning into a spy agency and capital controls prison. Note I have been a China critic over at http://mpettis.com, just find the posts with the avatar of Homer Simpson's small brain x-ray.

P.S. Actually I was holding no BTC (and never owned any) until today when someone sent me several to distribute to typhoon victims.

Mate no need to try hard its banned there period , no business will be willing to accept it as long as this is the Chinese gov tune , its banned mate , its not important if people can exchange it , who cares i can exchange socks with you does that give it value , whats the value if it cant be used as a currency ? it was $13 at the beginning of the year and nothing have changed we're going back there but it takes time , its definitely not worth the hype , just another WOW Gold or a store credit ...

Bitcoin isn't close to being a currency, for the reasons I explained in the OP and also because the majority of the demand is for speculation and because it is so volatile that merchants which operate on normal margins, e.g. 5 - 30%, must convert BTC received to a more stable fiat immediately.

So China isn't disallowing anything that Bitcoin currently is.

Small shops can accept Bitcoin just as they can every where else in the world. And they will immediate convert it to fiat for the portion they need to pay their costs with.

There are no way to make loans in Bitcoin because the volatility is several times higher than any interest rate anyone would pay. Thus Bitcoin is no where near being a financial instrument.

Bitcoin is a speculation, which also has the ability to transfer value electronically. And China's ruling has not changed that in China.

You are thinking that Bitcoin has to be ruled to be legal tender in order to be used. Sorry to remind you, that isn't the case in any country.

As I said, you are not being rational. Just all emotion not logical.