Post
Topic
Board Beginners & Help
Re: People's Bank of China Says Bitcoin Cannot Circulate as Currency in the Market
by
CIYAM
on 07/12/2013, 10:38:34 UTC
Bitcoin in China has been relegated to the status of QQ Coins.

This is not correct - you *can* sell your BTC for RMB on btcchina and other exchanges (they do now insist on ID which is no different to other major exchanges).

You *cannot* sell QQ coins for RMB (via any equivalent to an exchange) so that is a *huge* difference.

The latest statements basically restrict BTC to being more like a "stock" (which you can speculate on) than to being the equivalent of QQ coins (which function more like "reward points" that you can exchange for "virtual goods").