Tagbtc china

Bitcoin Trading Fees See Volumes Dive in China

bitcoin drop

The world’s largest bitcoin market saw a steep fall in trading volumes on the day in which exchanges began charging trading fees at a flat 0.2 percent from midday (Beijing time). In a 1-hour trading period after bitcoin exchanges introduced trading fees, trading volume at BTC China fell over 80%. Huobi and OkCoin, the two other exchanges that were investigated and saw discussions held with the...

Chinese Bitcoin Exchanges Enforce Trading Fees


Starting tomorrow, China’s largest bitcoin exchanges will begin charging trading fees at a flat 0.2 percent for every transaction. The changes stemming from the People’s Bank of China’s involvement in bitcoin trading activity between China’s biggest bitcoin exchanges continue. Within days of BTCC, Huobi and OKCoin formally announcing the halt of margin or leveraged trading for Chinese users, the...

Chinese Bitcoin Exchanges BTC China And OKCoin Start Accepting USD


Two Chinese Bitcoin exchanges, BTC China and OKCoin, have recently announced new international trading features. Earlier today, in a selfpost to Reddit, BTC China revealed their newest features: Withdrawals and deposits in both USD and HKD. Just a few days ago, fellow Chinese Bitcoin exchange, OKCoin, also announced the launch of English-language service in the form of a new website and USD...

China And Bitcoin: Two Chinese Banks Announce That They Will Cancel Accounts Associated With Bitcoin Or Litecoin


The latest Bitcoin news from China is in.  A handful of Chinese banks have decided to kick off the week by unilaterally banning Bitcoin-related accounts.   Tuesday morning in China, Ping An Bank and China Everbright Bank both posted notices to their website announcing that they would suspend accounts of individuals or organizations caught participating in Bitcoin or Litecoin transactions.  Both...

BTC China Halts Chinese RMB Deposits In Light Of Renewed PBOC Crackdown


Yesterday, Caixin reported that the PBOC, led by the Payment and Clearing Organization of China, has been having meetings and interviews with commercial banks, third party payment processors, and Bitcoin exchanges within China.  PBOC officials made it very clear that they wished to completely cut off the funding line of Chinese RMB into Bitcoin trading platforms around the country.  The...

BTC China Introduces Picasso Web Wallet And Lamassu Vending Machine: NO ATM


As I mentioned yesterday, OKCoin and BTC China both announced "The First Bitcoin ATM in China" yesterday.  BTC China Bobby Lee wanted to show the world that 4/15/14 is just another day for Bitcoiners.  There isn't a magical guillotine from the PBOC that will be dropped today, as rumors of a private PBOC notice circulated only to banks and 3rd party payment processors requiring stricter adherence...

OKCoin Announces Official Launch Of Recharge Codes And "First Bitcoin ATM In China"


Today, in an announcement to their site, OKCoin has implemented the immediate suspension of recharge activities via their Chinese Merchant's Bank account.  Instead, OKCoin has moved onto a recharge code system with 0 fees, the same as BTC China.  These recharge codes can vary in value from 100 yuan to 100,000,000 Yuan.  OKCoin recharge codes are split into two portions: sections A and B.  There...

PBOC Orders All Chinese Banks And Third Party Payment Processors To Close Accounts Of Chinese Bitcoin Exchanges by 4/15


Original Chinese article here. English article by Caixin. Caixin is a trusted Chinese financial news source. Ties to the 3/21/14 Sina.com FUD incident In contrast to the 3/21/14 incident mentioned by OKCoin, this news was broken by Caixin not Sina.  More importantly, the original article has not yet been rescinded.  In the original rescinded Sina article that turned out not to be true, it was...

BTC China CEO: Most Countries Will Defer to US on Bitcoin Regulation


While there are currently many different countries around the world making their own recommendations when it comes to how Bitcoin should be regulated, the reality of the situation is that most central banks and regulators are looking to the United States for guidance on this matter. Although many Bitcoin entrepreneurs in the United States have denounced their country's stance on Bitcoin thus far...

Fake China Bitcoin Ban pushes BTC price below $600

Bitcoin price drops after rumour about China ban

Update: it seems there was a document, saying People's Bank of China is looking into strengthening regulations. A ban on Bitcoin is definitely not part of it. The story is still developing, we will keep watching this closely. Bitcoin price has been dropping significantly since yesterday. Markets were responding worried after being told the People's Bank of China released a statement in which they...

Breaking: Litecoin Now Tradeable at BTC China at 0% Fee


Major Chinese exchange BTC China just enabled Litecoin trading at an unbeatable 0% fee! BTC China's official announcement reads as follows: Dear Customers, We are very excited to introduce BTC China’s new member – Litecoin! Bitcoin grew tremendously in 2013, while another virtual currency has also made considerable progress – Litecoin. It gradually gained recognition from the Bitcoin enthusiasts...

Bitcoin Competitors Coordinate to Protect the Industry


MtGox is dead, insolvent, and lost 6% of all bitcoins in existence, or so the rumor goes. The only thing that is factually known at this time is that MtGox went offline with no announcement, after halting all trading immediately following the leak of this document that details the aforementioned rumors. The good news is that in response to MtGox going offline, an alliance of exchanges has arose...

BTC China Lowers Commission Fees

The Future of Bitcoin in China

BTC China is open for business and is offering lower trade commissions starting 24 February 2014. From their website: Starting at 12 noon (China time) on February 24, 2014, BTC China will lower the trading commission fee from 0.3% to 0.1% for all users. For market-makers who place limit orders that add to market liquidity, they will be exempt from the trading commission, and will additionally get...

CCN Week in Review: Mt. Gox, Dogecoin, Silk Road 2.0, and More

CCN Week in Review: Mt. Gox, Dogecoin, Silk Road 2.0, and More

This week on CCN, we learned about the Mt. Gox fiasco, Bobby Lee's future of Bitcoin in China, Dogecoin's success, the Silk Road 2.0 hack, and much more! Here are some of our top stories this week in case you missed them. Mt. Gox Suspends all Bitcoin Withdrawals On 7 February, Mt. Gox issued a press release stating that a technical issue with Bitcoin has caused them to halt all Bitcoin...

Bitcoin is Still Alive and Well in China

BTC China Bank Deposits

Although many people thought banks weren't allowed to work with Bitcoin exchanges as a result of the December 5th memo from the People's Bank of China, it seems that the Bitcoin community may have overreacted to what the PBOC was trying to say. Some individuals have been wondering if Huobi, a Bitcoin exchange in China, has been operating illegally over the past few weeks because they were...

Massive Bitcoin Buys in Asia


Reports of massive Bitcoin Buyback in China circulating gain credibility shows large buy orders originating from asia
— COINSPRINT (@coinsprint) January 14, 2014
This is the view from fiatleak.com showing a flurry of bitcoin buys in China:

Here is an update one hour later:

The Bitcoin Price Falls due to Concerns with China


Mondays tend to be the days when Bitcoin gets pumped after a quiet weekend. This is not the case today despite all the good news that have come out (e.g. GoldMoney Group adding Bitcoin in their Commodity Vault). It seems like there is a very tense vibe in the Bitcoin community, and as Gordon Geeko showed yesterday in his video analysis he does not know which way we are going (same here). At this...

The 2014 Bitcoin War Has Started— And it is Bobby Lee who Fired the First Shot — The Four things you can do to be Battle Ready


When Brock Pierce said,  "2014 will be the year of Bitcoin", it may have been more accurate to say, this will be the year of the 2014 BITCOIN war.  History will likely show that when a Chinese Bitcoin exchange CEO  found a workaround to allow RMB deposits in China,  it will have been  Bobby Lee who fired the first  shot in  the 2014 Bitcoin war with the global Central bankers.    Read This link  ...

Chinese Bitcoin Exchanges Find Workaround To Allow RMB Deposits, Exchange Rate Rallies


Read the original Chinese article on btc38 and btckan, a prominent Chinese Bitcoin exchange and website, respectively. BTC China's CEO Bobby Lee has introduced a new method for Bitcoiners in China to "recharge" their RMB balances on Chinese Bitcoin Exchanges: BTC China vouchers.  Within a week, Chinese Bitcoin Exchanges led by BTC China, have found a solution for getting RMB deposits into Chinese...

Open letter from Bobby Lee / BTC China


Dear Bitcoin China (BTC China) Users: Recently, due to third-party payment companies in China disrupted and Bitcoin (BTC China) recharge channels, resulting in China Bitcoin (BTC China) is temporarily unable to provide RMB prepaid services. In this regard, on behalf of China Bitcoin (BTC China) expressed deep regret for the inconvenience, please understand. We are actively seeking other recharge...

USA Will Lead China Bitcoin


You are what your liabilities say you are.  I had the privilege to meet with a very well respected economist yesterday, and he explained this undeniable fact.  You are what your liabilities say you are. What does this mean?  Let's take a look under the hood of a global giant, McDonald's.  A McDonald's franchise in Spain accepts Euros from customers and pays their supply chain, building costs and...

Breaking News: BTC China To Resume Trading Fees of 0.3%, Market Manipulation Gets Harder


BTC China has, after 3 successful months, has decided to resume trading fees.  For a few weeks now, because of 0% trading fees, BTC China has consistently been the highest volume BTC exchange.  Trading fees will be 0.3%, the announcement reads: Dear BTC China valued customer: To stabilize the recent turbulent Bitcoin market and minimize potential market manipulation, BTC China will end the 0%...

Bitcoin Regulation


The fact that unsavory websites choose to deal in virtual currency, exclusively, should not be the impetus for Bitcoin regulation.  The knee-jerk reaction to place Bitcoin as the villain in these instances is convenient propaganda cloaking a larger issue.  How are these sites allowed to be accessed in the first place?  As Harvard Law School's, John Palfrey, eloquently states in his research...

BREAKING NEWS - BTC China May Launch LTC Trading Soon


For those of you who missed it (most of us), the second Bitcoin convention "Inside Bitcoins - the future of virtual currency" was held in Las Vegas, Nevada on December 10-11. There were many prominent speakers, including Bobby Lee, CEO and co-founder of BTC China. As most of us know, BTC China helped cause the massive spike in Bitcoin prices recently. And now, something similar could happen for...

BTC China now Requires ID Verification from All Users Upon Logging In


In response to the recent People's Bank of China [PBOC] statement, BTC China has started requiring ID verification for all of its users.  Upon logging in, you will be prompted for a Chinese ID and if you are an international customer, your passport number will be required instead.  While Reddit users have reported that any random combination of numbers with the correct length for your...