Capital controls are meant to work for exporting money outside of the county. Since the Chinese will deposit money directly to a Chinese company's account, that's being taxed for every transaction, it's perfectly legal.
Please be specific. Which "Chinese company's account"?
Exactly how will that be done, considering https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country#China ?
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Besides, when you hold Bitcoins right now, why should you transfer it abroad? It's where you live at anytime; I could understand diversification reasons, but would not advise BTC as a "means of fleeing capital abroad".
By that logic, Chinese people should be able to buy Euro or USD, as long as they keep it in China, right? What am I missing?
@aztecminer we're talking about China.
right... but the election is 16 months away. .. instead of us focusing on immigration suddenly the election is about the obama's failing economy ... things china is doing probably is causing the stock market to crash .
It's crashing up today, so far.
looking at BFX as though more margin longs are opening. i'm just pointing out the facts.. maybe china will stop doing whatever it is they are doing causing the stock market to crash and everything will be great for election.. the fed can raise the rates to .25% as planned . .. i'm just saying that if the stock market keeps crashing then the fed might rally it again with QE and that would mean everyone will pile into stocks for the QE pump. i posted the link.. here it is again in case you missed it: http://www.newsmax.com/Finance/StreetTalk/jim-rogers-federal-reserve-economy-slowdown/2015/08/31/id/672878/
Overall, I agree with your point. I was merely making a snapshot observation regarding the stock market's price direction at that moment.... or at least, any such "stock market crash" seems to have leveled off in recent days.