Cheers BM, was wondering if migration into Special Area jurisdictions would be a workaround for Chinese bitcoiners, albeit longer deposit/withdrawal times.
Here's a list of all registered banking groups in China:
http://en.wikipedia.org/wiki/List_of_banks_in_China
Some banks already taking formal action, question is whether the others will be forced to follow suit circa March?
(So far just China Construction bank & China Merchants bank)?
Topic: Bitcoin platform competition between mainland of China and Hongkong (Read 2309 times)
April 28, 2014, 04:01:16 AM
At the end of March ,it’s said that central bank of China may close all recharging entrance from Bitcoin trading platform before 15th April .Now 15th April has gone ,And central bank of China seems really want to ban bitcoin in mainland .These changes Chinese Bitcoin trading market enormously .
For 15th April case ,some Bitcoin fans transferred to Hongkong Bitcoin trading places at the end of March .Native Bitcoin trading market amount also transfer to Hongkong generally .Meanwhile ,Hongkong Bitcoin trading places open CNY recharging ,withdrawing deposit service ,and roll out many services to attract client’s attention .From then on ,Bitcoin trading platforms in mainland of China and Hongkong enter to competition stage
China is the biggest Bitcoin market in the world .Its Bitcoin market daily trading amount over 0.1million .After 15th April ,some Bitcoin fans transfer to Hongkong Bitcoin trading places ,while mainland Bitcoin trading market amount decreases rapidly .
According to the data ,there are some large trading platforms in Hongkong : 796、MYCOIN、ANXBTC、HKCEX、LAKEBTC,while native platforms :BTC China ,China BTC ,huobi.com ,okcoin ,BTCTRADE .Moreover ,native clients often join in 796and mycoin because they support CNY recharging and withdrawing deposit service and roll out many service to attract clients’ attention .
The market amount from Bitcoin trading platforms in China
Hongkong Native
Name Market amount Name Market amount
796 30% okcoin 25%
Mycoin 28% Huobi.com 21%
Anxbtc 16% BTC China 18%
Hkcex 11% China BTC 15%
Lakebtc 6% Btctrade 7%
Others 9% Others 14%
(The data is from internet, we are not take responsibility for the reality.)
The Bitcoin investor Mr Hu said ,he is worried for Chinese trading website is usually affected by policy .Especially after affected by the policy ,once a large amount of clients need withdraw deposit ,they are difficult to get their money .When talking about his investing amount ,he was not willing to reveal the concrete number ,only to say about several million yuan .While taling about whether to transfer to Hongkong ,he said he may choose MYCOIN or 796.
Because investors are worried about native trading platforms affected by the policy ,clients choose to transfer to Hongkong platforms,exacerbating the fierce competition today .It’s competition that Bitcoin industry becomes more mature .After that whether Hongkong or native platforms ,their Bitcoin service are on primary stage .Let us to expect the convenient and excellent service through competition in the future .
Remaks: Due to language difference, sometimes people out of China can’t know what happened in China quickly. so we are here to make effort to change little, we will translate 3-4 bitcoin news in China to English everyday to help people out of China know what happened and what people thinks about bitcoin in China, If somewhere translate not that good, pls PM us so that we can correct it.
For 15th April case ,some Bitcoin fans transferred to Hongkong Bitcoin trading places at the end of March .Native Bitcoin trading market amount also transfer to Hongkong generally .Meanwhile ,Hongkong Bitcoin trading places open CNY recharging ,withdrawing deposit service ,and roll out many services to attract client’s attention .From then on ,Bitcoin trading platforms in mainland of China and Hongkong enter to competition stage
China is the biggest Bitcoin market in the world .Its Bitcoin market daily trading amount over 0.1million .After 15th April ,some Bitcoin fans transfer to Hongkong Bitcoin trading places ,while mainland Bitcoin trading market amount decreases rapidly .
According to the data ,there are some large trading platforms in Hongkong : 796、MYCOIN、ANXBTC、HKCEX、LAKEBTC,while native platforms :BTC China ,China BTC ,huobi.com ,okcoin ,BTCTRADE .Moreover ,native clients often join in 796and mycoin because they support CNY recharging and withdrawing deposit service and roll out many service to attract clients’ attention .
The market amount from Bitcoin trading platforms in China
Hongkong Native
Name Market amount Name Market amount
796 30% okcoin 25%
Mycoin 28% Huobi.com 21%
Anxbtc 16% BTC China 18%
Hkcex 11% China BTC 15%
Lakebtc 6% Btctrade 7%
Others 9% Others 14%
(The data is from internet, we are not take responsibility for the reality.)
The Bitcoin investor Mr Hu said ,he is worried for Chinese trading website is usually affected by policy .Especially after affected by the policy ,once a large amount of clients need withdraw deposit ,they are difficult to get their money .When talking about his investing amount ,he was not willing to reveal the concrete number ,only to say about several million yuan .While taling about whether to transfer to Hongkong ,he said he may choose MYCOIN or 796.
Because investors are worried about native trading platforms affected by the policy ,clients choose to transfer to Hongkong platforms,exacerbating the fierce competition today .It’s competition that Bitcoin industry becomes more mature .After that whether Hongkong or native platforms ,their Bitcoin service are on primary stage .Let us to expect the convenient and excellent service through competition in the future .
Remaks: Due to language difference, sometimes people out of China can’t know what happened in China quickly. so we are here to make effort to change little, we will translate 3-4 bitcoin news in China to English everyday to help people out of China know what happened and what people thinks about bitcoin in China, If somewhere translate not that good, pls PM us so that we can correct it.
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