Chinese consumers will soon have access to dollar market through bitcoins

BitcoinHodler

hero member

Activity: 1456

Merit: 578

HODLing is an art, not just a word...

Quote from: European Central Bank on July 01, 2016, 07:57:24 AM

Quote from: TKeenan on July 01, 2016, 06:07:33 AM

Quote from: Kakmakr on July 01, 2016, 04:06:33 AM

The value is pegged to the dollar, so no matter how much is bought, it should in theory always have that same amount of dollars in a bank account somewhere. ^smile^

1 USDT is always = 1USD

where can you use this stuff other than a couple of exchanges? if you need real dollars to spend somewhere how do you get ahold of them especially if you're in somewhere like china? i've never come across an online store with 'usdt accepted here'.

check coinmarketcap it is available only in 3 of exchanges Poloniex, Bitfinex and c-cex

i have never heard about USDT before and i hae recently came to know it and i am wondering why it isn't more popular. it sounds like an awesome thing to be used in all of exchangers to transfer money value.

European Central Bank

legendary

Activity: 1288

Merit: 1087

Quote from: TKeenan on July 01, 2016, 06:07:33 AM

Quote from: Kakmakr on July 01, 2016, 04:06:33 AM

The value is pegged to the dollar, so no matter how much is bought, it should in theory always have that same amount of dollars in a bank account somewhere. ^smile^

1 USDT is always = 1USD

where can you use this stuff other than a couple of exchanges? if you need real dollars to spend somewhere how do you get ahold of them especially if you're in somewhere like china? i've never come across an online store with 'usdt accepted here'.

yayayo

legendary

Activity: 1806

Merit: 1024

Quote from: Nevis on June 30, 2016, 10:35:01 PM

A new group in China was created 6 months ago and it was aiming to connect chinese consumers to Global Market through the use of Bitcoins. It is not clear yet how they will operate but this seems promising. I hope Philippines will adopt this kind of business idea to uplift the business economy of the citizens. With this at hand if successful I believe that other countries will soon follow and this may lead to bitcoin more increase in monetary value as price will skyrocket once again.

Any source for this information? There is a lot of information about China floating around. However at least half of these news turn out to be misinterpretations or outright hoaxes. Are you Chinese? For people outside of China it is very difficult to verify information because of the language barrier and the lack of knowledge about the culture.

Assuming this news is true, I have ambivalent feelings. On the one hand it is nice to see increased usage of Bitcoin. On the other hand it seems quite dumb to use Bitcoin just as an intermediary to access fiat-dominated markets. Desirable are direct Bitcoin purchases, because - besides being junk money - any fiat conversions generate costs and delays that eliminate the advantages of Bitcoin.

ya.ya.yo!

unamis76

legendary

Activity: 1512

Merit: 1009

Chinese are pretty well connect to the global market already, I think... Most of the things we use in western society are manufactured there Cheesy

TKeenan

hero member

Activity: 874

Merit: 1000

Quote from: Kakmakr on July 01, 2016, 04:06:33 AM

The value is pegged to the dollar, so no matter how much is bought, it should in theory always have that same amount of dollars in a bank account somewhere. ^smile^

1 USDT is always = 1USD

Kakmakr

legendary

Activity: 3430

Merit: 1957

Leading Crypto Sports Betting & Casino Platform

Quote from: Nevis on June 30, 2016, 10:35:01 PM

A new group in China was created 6 months ago and it was aiming to connect chinese consumers to Global Market through the use of Bitcoins. It is not clear yet how they will operate but this seems promising. I hope Philippines will adopt this kind of business idea to uplift the business economy of the citizens. With this at hand if successful I believe that other countries will soon follow and this may lead to bitcoin more increase in monetary value as price will skyrocket once again.

Would you mind sharing the source for this information? I know the Chinese have been rumored to shift their local currency into Bitcoin as a form of capital flight, but we have not seen any real evidence of that. ^hmmm^

Quote from: ?? on ??

Quote from: mikewirth on June 30, 2016, 11:54:46 PM

Quote from: Nevis on June 30, 2016, 10:35:01 PM

A new group in China was created 6 months ago and it was aiming to connect chinese consumers to Global Market through the use of Bitcoins. It is not clear yet how they will operate but this seems promising. I hope Philippines will adopt this kind of business idea to uplift the business economy of the citizens. With this at hand if successful I believe that other countries will soon follow and this may lead to bitcoin more increase in monetary value as price will skyrocket once again.

Chinese already have access to US dollar via bitcoin. Go to Polonix, bring BTC, trade for USDT. Chinese and PH can buy as many dollars as they like this way. You can sit and wait on those dollars, or you can change back to BTC. It's fast and easy. They also can send those USDT the exact same way to send Bitcoin - anywhere in the world for almost nothing in fees. That is powerful. USDT is exactly like bitcoin - but its dollars. One USDT is always one dollar.

Hehe so USDT is not changing? Well IMO though it will affect btc's price. I think it will contribute to bitcoin's current pumping power and because of them bitcoin will go to the moon.

The value is pegged to the dollar, so no matter how much is bought, it should in theory always have that same amount of dollars in a bank account somewhere. ^smile^

mikewirth

sr. member

Activity: 532

Merit: 250

Quote from: Nevis on June 30, 2016, 10:35:01 PM

A new group in China was created 6 months ago and it was aiming to connect chinese consumers to Global Market through the use of Bitcoins. It is not clear yet how they will operate but this seems promising. I hope Philippines will adopt this kind of business idea to uplift the business economy of the citizens. With this at hand if successful I believe that other countries will soon follow and this may lead to bitcoin more increase in monetary value as price will skyrocket once again.

Chinese already have access to US dollar via bitcoin. Go to Polonix, bring BTC, trade for USDT. Chinese and PH can buy as many dollars as they like this way. You can sit and wait on those dollars, or you can change back to BTC. It's fast and easy. They also can send those USDT the exact same way to send Bitcoin - anywhere in the world for almost nothing in fees. That is powerful. USDT is exactly like bitcoin - but its dollars. One USDT is always one dollar.

groll

sr. member

Activity: 336

Merit: 250

I dont really get what is your idea about global market and CHinese consumers. It is a vague explanation. But what I like about your post is the promising skyrocket increase in monetary value of bitcoin. Though I may seem selfish to say this but as a bitcoin user theres no more joyful than bitcoin having a large amount of value. I do wish it would rise up to 10k$ in that way it is very advantageous to bitcoin users like me.

Nevis

hero member

Activity: 560

Merit: 500

A new group in China was created 6 months ago and it was aiming to connect chinese consumers to Global Market through the use of Bitcoins. It is not clear yet how they will operate but this seems promising. I hope Philippines will adopt this kind of business idea to uplift the business economy of the citizens. With this at hand if successful I believe that other countries will soon follow and this may lead to bitcoin more increase in monetary value as price will skyrocket once again.

Topic: Chinese consumers will soon have access to dollar market through bitcoins (Read 525 times)