Topic: BTCChina ath is $800? (Read 1084 times)
btcchina is at 5080Y now
@OP: Yes.
Btc is presumably very popular in china, and since Yuan isnt really a freely floating currency, it effectively doesn't have a "real" USD exchange rate. So the difference in price is entirely reasonable. When BTCChina > Bitstamp by a significant amount, that basically means the amount of BTC flowing into china is greater than the amount of BTC flowing out.
Btc is presumably very popular in china, and since Yuan isnt really a freely floating currency, it effectively doesn't have a "real" USD exchange rate. So the difference in price is entirely reasonable. When BTCChina > Bitstamp by a significant amount, that basically means the amount of BTC flowing into china is greater than the amount of BTC flowing out.
BTCChina just hit 5000元 
BTCChina topped at 4879元, equal to $800.89, and is currently at 4750元, equal to $778.99.
Why so high? Is it like Mt.Gox, where withdrawals cannot be processed? Or is it because yuan is to difficult for arbitragers to obtain?
Why so high? Is it like Mt.Gox, where withdrawals cannot be processed? Or is it because yuan is to difficult for arbitragers to obtain?
All of the above.
a) BTC China has monthly withdrawal limits which are relatively low
b) Bitcoin is "newish" in China and thus there is more localized buying then selling.
c) Yuan is essentially impossible for foreigners to obtain. To deposit or remove funds on BTC China requires access to a Chinese bank account.
BTCChina topped at 4879元, equal to $800.89, and is currently at 4750元, equal to $778.99.
Why so high? Is it like Mt.Gox, where withdrawals cannot be processed? Or is it because yuan is to difficult for arbitragers to obtain?
Why so high? Is it like Mt.Gox, where withdrawals cannot be processed? Or is it because yuan is to difficult for arbitragers to obtain?
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