Post
Topic
Board Speculation
Re: Reason for Today's Crash: China Bans Bitcoin Payment Processors
by
btcperth
on 17/12/2013, 01:00:18 UTC
Chinese banks might get burned, if the only way to purchase bitcoin is cash purchase, then people have to withdraw money from banks to purchase bitcoin, and a mass scale of withdraw will create a bank run  Cheesy

A run could only be caused if a large percent of depositors withdraw their money - but bitcoin users are probably something like 0.1% of people in China?