I do not think it is a coincidence China was feeling very skiddish a few weeks about the US debt they own, with Washington not raising the debt ceiling and with little progress.
China is spreading its risk to Bitcoin; the USD ain't what it used to be, especially with Obama at the helm.
Topic: China Trades 58k btc rest of the World 34k - page 2. (Read 10195 times)
i think the btc china rise is a pump from the chinese manufacturers of asic that want to sell their btc high!
Interesting theory, anyone have any thoughts on this?
Controlling and employing actually bitcoins (secret keys and the value associated with them) is interesting and all, but not that big a deal.
Bitcoin as a protocol is yet young and is evolving rapidly. It is defined by who runs what software, and that is a conscious choice made by individuals (currently at least.) To me this aspect of things will be the most interesting thing to watch from a system analysis point of view as China takes a more central role.
dree : trading volume we are talking about, there's quite a few btc rich in US...
i think the btc china rise is a pump from the chinese manufacturers of asic that want to sell their btc high!
i think the btc china rise is a pump from the chinese manufacturers of asic that want to sell their btc high!
Hmm this is interesting I was under the perception that the United States constituted over 80% of all bitcoin trading but if this is true their is a great argument here to say that it is becoming more mixed in its origination.
Thanks
Thanks
So instead of America controlling 80% of Bitcoin, China does. I fail to see how this is "more mixed".
Hmm this is interesting I was under the perception that the United States constituted over 80% of all bitcoin trading but if this is true their is a great argument here to say that it is becoming more mixed in its origination.
Thanks
Thanks
Yes true and TODAY the figures so far are China 92.000 bitcoin traded and The "Big 3 " 21,000. more than 4 to 1
I would like to see a chart of daily/monthly volumes on each group since Jan 2013 for comparison and to see if we can spot a trend "predict" future volumes. if anyone is a chart expert and can make one I am sure the community would be eternally grateful...
Great idea!
Asian regions as a whole can really add in tons of liquidity into this currency. Something it needs badly for that price stability.
China rules 
Hmm this is interesting I was under the perception that the United States constituted over 80% of all bitcoin trading but if this is true their is a great argument here to say that it is becoming more mixed in its origination.
Thanks
Thanks
Yes true and TODAY the figures so far are China 92.000 bitcoin traded and The "Big 3 " 21,000. more than 4 to 1
I would like to see a chart of daily/monthly volumes on each group since Jan 2013 for comparison and to see if we can spot a trend "predict" future volumes. if anyone is a chart expert and can make one I am sure the community would be eternally grateful...
The name satoshi is chimesse namr that is the only reasoon chinese ppl knew first for BTC
The problem of supply and demand of bitcoins can be solved with Fractional Reserve Banking. With 1% margin requirement on bitcoin banks we would have the potential of 2.1 billion bitcoin notes (IOU) issued by banks.
Fractional reserve banking can solve any problem. Ahem.
not sure if sarcasm
Hmm this is interesting I was under the perception that the United States constituted over 80% of all bitcoin trading but if this is true their is a great argument here to say that it is becoming more mixed in its origination.
Thanks
Thanks
The problem of supply and demand of bitcoins can be solved with Fractional Reserve Banking. With 1% margin requirement on bitcoin banks we would have the potential of 2.1 billion bitcoin notes (IOU) issued by banks.
Fractional reserve banking can solve any problem. Ahem.
also ben bernake. ahem.
Amen
The problem of supply and demand of bitcoins can be solved with Fractional Reserve Banking. With 1% margin requirement on bitcoin banks we would have the potential of 2.1 billion bitcoin notes (IOU) issued by banks.
Fractional reserve banking can solve any problem. Ahem.
also ben bernake. ahem.
This buyig frenzy will hopefully take the price to the moon.
I hope so too. China is a big player in the BTC market!
Jabba
I certainly hope so
I have price target of $400 by Oct 2014 (mid channel of technical chart analysis) but in 2015 it could double or quadruple as dollar comes under severe pressure which they "Knew" as far back as Oct 2011. i
http://www.zerohedge.com/article/qe2-sealed-next-rate-hike-wont-come-until-2015-says-goldman
http://www.zerohedge.com/article/return-rate-normalcy-will-cost-fed-hundreds-billions-fed-will-go-negative-carry-2015-d-day-a
The dollar is already under pressure that will get worse and China is now very vocal AND ACTIVE to replace it as the reserve currency and commercial/oil trading. As this progresses it leads to less demand for dollars = lower price = higher bitcoin price as it is inversely connected.
As we’ve noted previously, bitcoin shares a generally inverse relationship with USD, an asset that has been negatively impacted in recent weeks as a result of the US debt ceiling impasse.
http://thegenesisblock.com/bitcoin-climbs-highest-price-since-april-led-cny-movement/
http://www.zerohedge.com/news/2013-10-18/9-signs-china-making-move-against-us-dollar
HOWEVER a roller coaster ride to get there ? YES
Could Government action impede or even destroy that. YES.
I certainly hope so
I have price target of $400 by Oct 2014 (mid channel of technical chart analysis) but in 2015 it could double or quadruple as dollar comes under severe pressure which they "Knew" as far back as Oct 2011. i
http://www.zerohedge.com/article/qe2-sealed-next-rate-hike-wont-come-until-2015-says-goldman
http://www.zerohedge.com/article/return-rate-normalcy-will-cost-fed-hundreds-billions-fed-will-go-negative-carry-2015-d-day-a
The dollar is already under pressure that will get worse and China is now very vocal AND ACTIVE to replace it as the reserve currency and commercial/oil trading. As this progresses it leads to less demand for dollars = lower price = higher bitcoin price as it is inversely connected.
As we’ve noted previously, bitcoin shares a generally inverse relationship with USD, an asset that has been negatively impacted in recent weeks as a result of the US debt ceiling impasse.
http://thegenesisblock.com/bitcoin-climbs-highest-price-since-april-led-cny-movement/
http://www.zerohedge.com/news/2013-10-18/9-signs-china-making-move-against-us-dollar
HOWEVER a roller coaster ride to get there ? YES
Could Government action impede or even destroy that. YES.
This buyig frenzy will hopefully take the price to the moon.
I am curious to see what the landscape looks like when all the Chinese exchanges aren't offering 0% trading fees. That has the potential for manipulating these numbers.
Agreed ...........0% transaction fees and
ChBTC 0 /0.2 Dividend
BTC100 0.3 Dividend
are obviously an incentive to buy . This will probably change once the players have increased size and share of the market from levels at this early stage. I strongly feel though that demand will increase in leaps and bounds unless the Government intervenes negatively.
http://bitcoinmagazine.com/7492/baidu-jiasule-and-the-chinese-bitcoin-community/
Why do so many Chinese people care about Bitcoin? First of all, in some metaphorical sense, virtual currency is in Chinese internet users’ blood. Tencent QQ, a Chinese company which can perhaps be most closely identified with the American Yahoo (or at least as Yahoo was in its heyday in the early 2000s), released a virtual currency called Q Coin in 2007; Q Coin became extremely popular in all sort of online applications including social media and e-commerce, but was eventually neutered by the Chinese government. As far as its user experience goes, Bitcoin, being a digital currency, is very similar to Q Coin, so Bitcoin comes naturally to Chinese users in a way that it simply does not to many people in Europe or North America.
That's a decent majority for them then and they will stand to benefit as some of the early adopters if this really takes off. Bitcoin is back on the rise recently.
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