The rich guys do not use bitcoin. Even if they transfer bitcoin to the West, it will be difficult for them to exchange into fiat.
why do you say so? and if you don't use bitcoin then how? Bitcoin is much faster kind of transaction than bank transfer. Exchanging into fiat is now kinda difficult only in USA I have to say 
Topic: Capital controls in China. No effect on Bitcoin? - page 3. (Read 1942 times)
The rich guys do not use bitcoin. Even if they transfer bitcoin to the West, it will be difficult for them to exchange into fiat.
Chinese government is considering to extend the capital controls in order to stop the outflows and take away the pressure on the Yuan currency. Obviously, there has been left capital of around 1 trillion dollars within last year. Why does it not produce an sustainable effect on Bitcoin price?
http://www.ft.com/cms/s/0/5213ea3e-c35d-11e5-b3b1-7b2481276e45.html
http://www.ft.com/cms/s/0/5213ea3e-c35d-11e5-b3b1-7b2481276e45.html
The link cannot be read because need payment and subscription. So everything told following may not be correct. Or better is written having in mind the possible (known or guessed) ways of going of the money out of a country. First of all the effect of this migration to bitcoin might be the actual price of bitcoin (which is not few) and all the stability of its price the last year. Then was a bubble a November which was attributed to the Chinese market and the increase of demand came from this bitcoin market. Then maybe the most of them who send money out of China (don't have statistics or data that can argues such variant so it is only a guess) are miners or are connected with each other. If so, are known people between them which do exchange of favors between each other and this make the price of bitcoin at the same level. Or the last variant (which may be not the less important) bitcoin is used very few in this migration of money. There are to many ways (and even more secure) invented even before the born of bitcoin. Maybe these channels are the most preferred ones compared to bitcoin.
Chinese government is considering to extend the capital controls in order to stop the outflows and take away the pressure on the Yuan currency. Obviously, there has been left capital of around 1 trillion dollars within last year. Why does it not produce an sustainable effect on Bitcoin price?
http://www.ft.com/cms/s/0/5213ea3e-c35d-11e5-b3b1-7b2481276e45.html
I have to wonder about this too. The capital controls have made a great effect on the bitcoin price last time but not this time? Last time, the law pumps the price up significantly. However, this time it doesn't have any effect yet or the lunar new year causes something with the price which overwhelms the effect of capital controls? http://www.ft.com/cms/s/0/5213ea3e-c35d-11e5-b3b1-7b2481276e45.html
Chinese government is considering to extend the capital controls in order to stop the outflows and take away the pressure on the Yuan currency. Obviously, there has been left capital of around 1 trillion dollars within last year. Why does it not produce an sustainable effect on Bitcoin price?
http://www.ft.com/cms/s/0/5213ea3e-c35d-11e5-b3b1-7b2481276e45.html
http://www.ft.com/cms/s/0/5213ea3e-c35d-11e5-b3b1-7b2481276e45.html
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