Quote from: ckoeber on December 18, 2013, 07:25:39 AM

This price dip isn't because of some poorly translated document; there are folks who can translate in 2013.

BitCoin really needs to shine here; show the people on the sidelines it can really weather a storm from some central government and still come out as a viable currency.

Wasn't that the whole point?

Bitcoin will survive just fine, thats a given. however that announcement was translated and summarized in a point of view that the translator favored. it was also widely spread and quoted by people and news agencies. the problem with that is it doesnt leave room for other people to interpret. There were other translations later that highlighted this and gave their own interpretation alongside a realistically accurate translation.

The current situation goes back to that document and seems to counter things that were said. If the chinese govt were changing their position, why didnt they just state it clearly when they made the initial announcement or with subsequent announcements? they gave the OK for exchanges to buy and sell bitcoins as long as they signed up with the govt and followed the rules, if they were going to block the movement of funds into exchanges then why didnt they say so then? If bitcoin has been labeled as a commodity that is legal to own then why is it that exchanges cant accept money so that it can be bought and sold as one? there doesnt seem to be any consistency from the first announcement to these actions. Im thinking people may just be reading too much into the cautionary actions exchanges are taking, possibly based on the uncertainty of the current situation. Even the banks themselves may be stopping payments to the exchanges just to be safe. similar to how banks in US act regarding bitcoin. it was one of the first large companies in china that accepted bitcoin that said they would not be accepting bitcoin as payment for the time being due to legal uncertainties(this last part being neglected in the news and translations).

I only wish i had some money in a place where i could buy some bitcoins.(525$~)(heck even ignoring all the news, you could look at the exchanges value as being normal bitcoin behavior; Price surge, price crash, price stability well above where it started.

Which brings me to how i ended my last post...

...There is too much miss information... im going to just sit back and watch the show. not like id pull out of bitcoin anyway.