Topic: Bitcoin article on a huge chinese news site with 6.5 millions daily pageviews (Read 1665 times)

Yeah.. last time I skyped with someone in China, he was living in a room that was little more than a shack - but had modern hardware he purchased at a fraction of the price it costs here in Australia.
Cheap beer there too apparently.    I think I might like it there!

CHINA'S BOTNET: college kids getting paid cents every hour to calculate hashes by hand.

@Krokodill_G - China gets into bitcoin, opens 2 exchanges: btcchina.com and doten.co
Lets see what happens.


Do not forget, where all those cards are made

This is going to be really interesting to follow. Lots of peeps back home have this idea that China is technologically backward and that everyone here is poor. To those peeps remember that China has more USD millionaires than the US does around 35million by the latest estimates.

China is for sure becoming a player in the world economy and will become even more of one in the bitcoin field. Young people here comparatively speaking have LOTS more cash available to themselves than most young (18-30) peeps back home have (yes I know there are still dirt poor people in rural areas but these are a declining minority). as they have both parents and grandparents doting on them.

In many families here "Mum, can I have 20k to go buy some cards for my computer!" is probably going to be answered with "Why of course darling you got good grades on your last test!" To some extent spending cash like that (as if it were peanuts) here is a serious status symbol and some parents will go home and tell their kids to put together the most insanely expensive computer money can buy. Just to back that take in to consideration that after being taken over (or merged with if you prefer that term) by Dell, Alienware's largest growth market has been China even coming close to outdoing the US market.

All my cards seem to be made in china.  All you gotta do is get cousin andy at the sweatshop down the street to sneak you a couple.  Or maybe the sweatshops themselves will start using the cards to mine, might be more profitable.  That would be a real true sweatshop.

Why withdraw them when two other options are available?: save a small percentage for when the price per BTC increases; use the rest online to purchase products and services you planned on buying with fiat currency.

i doubt it will cause huge network hashrate growth...

1. you need gpu for mining, since cpu mining is at loss. I doubt many chinese have latest (or previous) generation of amd gpus in their computers. it's more of a luxury and chinese are not known for their high average income.

2. even if they wanted and could mine, there is no legal way to withdraw funds. correct me if i am wrong though.

The Gavinator.

Who is the guy burning the fiat money on page 5? 

http://translate.google.com/translate?js=n&prev=_t&hl=en&ie=UTF-8&layout=2&eotf=1&sl=zh-CN&tl=en&u=http%3A%2F%2Fnews.cnfol.com%2F110629%2F101%2C1585%2C10162846%2C00.shtml

I thought I already saw the likings of this thread a couple days ago. If that's the case, when will a see a new "Rally" thread?

http://news.cnfol.com/110629/101,1585,10162846,00.shtml

Daily pageviews 6.5 millions
Daily visitors 1.2 million
According to:
http://www.wolframalpha.com/entities/web_domains/cnfol.com/bq/w4/n0/

Compare this to:

http://www.infzm.com/content/61130
760 000 dailypageviews

However, as I dont read chinese, I´m not sure how much exposure the story got.
But it appeared in the finance section.