Quote from: HighSociety on December 26, 2013, 01:52:37 PM

Quote from: BitThink on December 26, 2013, 01:48:29 PM

Quote from: HighSociety on December 26, 2013, 01:39:01 PM

What are your guys thoughts on what will happen the week before and off course on the 31st of January? I read multiple articles which claim that trading in bitcoin will come to a complete stop or hold on the 31st of January in China? Or at least in Yuan/BTC Since OKcoin and BTCChina now found a loophole by funding their site through the use of vouchers I wonder if this way of funding will also be banned by the Chinese central? And if we can expect a dump a week before the 31st of January?

Jan 31 is the last day for 3rd party payment services to stop service. Since now almost all 3rd party payment services have already stopped service, 31 Jan does not have any special meaning in my opinion.

Jan 31st is the start of the Chinese new year as well I believe. I did some research yesterday and apparently 2014 will be the year of the horse. Which is a good sign for investing Tongue

However about the 3rd party payment services. How will this develop with the vouchers? Seems to me it will be a matter of time before the central bank also hammers down that option?

The voucher is just a way to reduce the fiat withdrawing. The situation is that some people sold BTC and withdraw fiat from the exchange, but those who want to buy bitcoins cannot deposit the fiat. How about the latter give money to the former and keep the money in the exchange? That's the reason why voucher is proposed. Those who want to withdraw fiat generate vouchers instead and sell them to the one who want to deposit, and then the latter use the voucher to deposit.

You can see that there's no fiat increase by using vouchers. It's just a way to reduce the amount of fiat withdrawn from the exchange.