China Bitcoin Withdrawal Freeze Continues and New Exchange Joins The List
Last months PBoC talks with top chinese exchanges made them apply fees on trades and stop BTC/LTC withdrawals.
It was supossed they will allow withdrawals by now but it seems there freeze will continue.
BTCC, OKCoin and Huobi keep money a hostage for now and currently exchange Yunbi joined the list.
Worth noting that day before announcement and lock of funds Yunbi had big ddos attack that made hard to visit the site at all.
Current Volume and Price of BTC on Chinese Exchanges
Worth noting that Bter still works and is called a chinese copy of Cryptsy.
There is some good arbitrage opportunities there. If you miss Cryptsy - thats the spot to go for.
LocalBitcoins Volume in China at a Peak
Remember LocalBitcoins is a good spot to sell BTC in premium not just in China but all over the world.
Current Top10 Of BTC Volume Exchanges
Notice only OKCoin is there from China.
Halting withdrawals reminds me of MtGox - same feeling in my gut. Great post @kingscrown and thanks for the updates.
To note: Localbitcoins is Person to Person and the site Rocks! I have been using their service and escrow for years.
You upvote me since some time but never spoke. Glad to hear you now man!
I have been following you for about a month - Great work. I generally open my followed blogs in tabs, then read them when one after the other as I go. Lately, I have been engaging more in conversations. Steemit is getting social!!
I have long held the view that Chinese capital controls is the key driver for Bitcoin price. I wrote about it a few times in the TIB series - see http://mymark.mx/TIB34
Of course the interesting thing to note is that Chinese Bitcoin miners dominate Bitcoin mining. So there is no shortage of Bitcoin in China. With Local Bitcoins service almost uncontrollable - two blokes meet in a street - one can always exchange Bitcoin for local currency (at a price).
Now all you need is to find a way to get China based Bitcoins out of China - encryption and escrow and parallel transactions and VPN and, and, and makes that all doable .
The more the controls edge in the higher the demand will go. An example: I heard the other day a story about the amount of drugs (hidden in various forms) coming across into China from North Korea. Where that stuff flows one way, cash will go the other way.
Good info man, thanks for this!
I hope none of the readers are surprise by the fact that they still are freezing the assets, unless they weren't informed. thanks for sharing this information our way with the extra bits of articles included for more details straight fro the horse's mouth. ;) Good job again, keep it up. All for one and one for all! Namaste :)
Im sure people had money on Yunbi sadly - especially that it was big BTS market. Better to stay away from this exchanges for now
I don't go to coin.dance any more since Anacoinda launched. They have a few advantages:
https://anacoinda.github.io/localbitcoins/currencies/CNY.html
Didnt know this one, will check it out!
Great stuff which always educates me more than I care to admit! Thank you.
I need a little direction and you may be able to help. It may be you I am looking for! I am seeking two erudite, experienced in front of camera people. They need to be well versed in all facets of cryptocurrencies, fiat and banking systems. Do you know where I should look/ask? Ned and Dan sadly bowed out due to "bandwidth" which is understandable right now.