CNN: Money is flying out of China | Bitcointalksearch.org

Zaduca

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Quote from: madonnino on January 11, 2016, 03:18:45 AM

Quote from: Tavos on January 10, 2016, 08:23:02 PM

Good for bitcoin! Probably why the BTC price is going up. Price should continue to go up for a while.

the china stock market bubble burst, we will see how the market will react ', we hope to convince some big shot you convert a lot of money in bitcoin

No only China, the world stock market bubbles burst. So the bitcoin could be a safe heaven for the money seeking refuge.

Swordsoffreedom

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Quote from: madonnino on January 11, 2016, 03:18:45 AM

Quote from: Tavos on January 10, 2016, 08:23:02 PM

Good for bitcoin! Probably why the BTC price is going up. Price should continue to go up for a while.

the china stock market bubble burst, we will see how the market will react ', we hope to convince some big shot you convert a lot of money in bitcoin

In classical terms Blood is on the streets someone out there will buy up those positions but right now is not that time
Bubble Pop
The Shanghai Composite closed down 5.3%, and the Shenzhen Composite ended 6.6% lower.
http://money.cnn.com/2016/01/10/investing/china-stocks/

madonnino

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Quote from: Tavos on January 10, 2016, 08:23:02 PM

Good for bitcoin! Probably why the BTC price is going up. Price should continue to go up for a while.

the china stock market bubble burst, we will see how the market will react ', we hope to convince some big shot you convert a lot of money in bitcoin

OROBTC

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Quote from: botany on January 10, 2016, 07:44:45 PM

Quote from: DimensionZ on January 09, 2016, 02:08:22 PM

I am not sure if the businessmen in China will switch to bitcoins but today in an article I read online was said that because of the falling yuan and oil prices the leading rich people lost billions just in January like 5-6 billions per person. Bitcoin prices are even more fluctuating than these recent stock market lows.

The advantage of having bitcoins is that you can transfer them out of China and convert them into other assets.
So even if bitcoin prices fluctuate, people may be trying to get their hands on them in China.

It's now 1:00 AM (US ET), and China & the rest of Asia are down hard again. People in China are selling stocks and apparently trying to get even more money out of China (at least parts of the leadership are).

Dow futures are down some 35 points, off its lows of over 100 points earlier.

This was "another one of those weekends", we'll see what the week itself has in store.

Tavos

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Good for bitcoin! Probably why the BTC price is going up. Price should continue to go up for a while.

hartanto

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Yes, also about the stock market closing issues, i think they will try to hedge their asset using bitcoins, therefore, we will soon see the spike from the chinese traders/business owner, i think the price will be ascending for the week

botany

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Quote from: DimensionZ on January 09, 2016, 02:08:22 PM

I am not sure if the businessmen in China will switch to bitcoins but today in an article I read online was said that because of the falling yuan and oil prices the leading rich people lost billions just in January like 5-6 billions per person. Bitcoin prices are even more fluctuating than these recent stock market lows.

The advantage of having bitcoins is that you can transfer them out of China and convert them into other assets.
So even if bitcoin prices fluctuate, people may be trying to get their hands on them in China.

lethalethereal

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Quote from: Denker on December 14, 2015, 05:01:32 AM

Yes this might be one of the reasons why chinese exchanges are running like hell since weeks.
Good for Bitcoin!The chinese aren't that dumb or naive as the greeks.
When shit hits the fence you have to be prepared!Or better to feather one's own nest!

Yes, bitcoin is a method for moving money quickly and fast: perfect for export money and make investment on other country

Denker

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Quote from: EdenHazard on January 09, 2016, 12:05:54 PM

so is this one of cause bitcoin prices jumped sharply in November? whether the current conditions in China still continues? and whether this January will be more severe? what effect the bitcoin prices if investors china switch to bitcoin?

That's a good question.
If chinese investors use Bitcoin to get their money out of the country I'm sure they will quickly convert it back to fiat and put it somewhere offshore on a bank or buy properties, art, old limited classic cars etc. with it. Therefore the price of Bitcoin will only increase shortly.
Another possibility would be that a part of their money will be stored in Bitcoin.Then we could see a constant mid- to long term increase.

DimensionZ

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Shit, did I leave the stove on?

I am not sure if the businessmen in China will switch to bitcoins but today in an article I read online was said that because of the falling yuan and oil prices the leading rich people lost billions just in January like 5-6 billions per person. Bitcoin prices are even more fluctuating than these recent stock market lows.

EdenHazard

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so is this one of cause bitcoin prices jumped sharply in November? whether the current conditions in China still continues? and whether this January will be more severe? what effect the bitcoin prices if investors china switch to bitcoin?

Casdinyard

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Quote from: Yakamoto on January 09, 2016, 12:11:58 AM

I am sure that if the stock market continues to swing down as it has, we'll see some more people in countries start pulling a cyprus, a lot of people have been worrying about a repeat of 2008/2009 for a while.

If the stock market drops another 10-15%, we will see some companies go bankrupt so it will affect the banking system.

Yakamoto

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Quote from: pereira4 on January 08, 2016, 06:06:10 PM

Quote from: BTCRoyal on December 16, 2015, 09:04:20 PM

Billions of Dollars wouldn't effect a nations currency, as you'd think. Especially, it being CNY and also take into account that if China knew that loaning that amount would put them at risk economically they would have not made the agreement on the loan.

It may not affect a nations currency, but it's an huge impact on the bitcoin marketcap which is only a tiny amount at the moment, not even 2 figure billion marketcap yet, we are yet to see x1000 growth minimum, I wish a couple of countries pulled a China/Cyprus and everyone started getting their money out of their respective countries thanks to Bitcoin.

Any group of people that begin to start selling their traditional currency for Bitcoin is pretty big, not only does it show that the people have faith in the currency, but it also shows that there are people willing to use it to store their wealth, regardless off the volatility.

I am sure that if the stock market continues to swing down as it has, we'll see some more people in countries start pulling a cyprus, a lot of people have been worrying about a repeat of 2008/2009 for a while.

pereira4

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Quote from: BTCRoyal on December 16, 2015, 09:04:20 PM

Billions of Dollars wouldn't effect a nations currency, as you'd think. Especially, it being CNY and also take into account that if China knew that loaning that amount would put them at risk economically they would have not made the agreement on the loan.

It may not affect a nations currency, but it's an huge impact on the bitcoin marketcap which is only a tiny amount at the moment, not even 2 figure billion marketcap yet, we are yet to see x1000 growth minimum, I wish a couple of countries pulled a China/Cyprus and everyone started getting their money out of their respective countries thanks to Bitcoin.

Pkzone

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Quote from: OROBTC on December 14, 2015, 10:25:32 PM

Quote from: countryfree on December 14, 2015, 12:29:22 PM

This is normal. When you begin to have quite a lot of money, you start to think about how to diversify to protect your wealth. It's only logical, the same thing goes in any country, but it's quite new in China, since recently, it was very difficult to move any money out of China. It has become easier but obviously, the government doesn't like it, and it wants to make it difficult again.

That would be my take as well. Were I a rich Chinese guy, I certainly would look for an alternative place/investment outside of China's .gov control... And Bitcoin would likely be the easiest way of getting capital out.

What would be interesting to know is how much of the newly-mined BTC by the various big-time BTC miners is going too...

* * *

Any Chinese investors interested in a high-end oceanfront condo, I would welcome a PM. Payment (in part) in BTC OK. Gold or cash too.

Hmm, I think you are right.

Raimonn

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Quote from: talks_cheep on December 16, 2015, 10:25:44 PM

Quote from: Casdinyard on December 16, 2015, 02:35:42 AM

The rich Chinese will not buy bitcoin in exchanges. They will buy it off the exchange. There are so many miners there.

And why would the Chinese miners sell outside the exchanges? You're implying the Chinese miners would sell at low prices to the Rich Chinese. If I was a Chinese miner, I would sell at a good and fair price, especially to a Rich Chinaman.

If I was rich Chinese, why would I buy from a miner, off exchanges? That just makes no sense AT ALL>

Why you think that minners will sell the bitcoins at lower prices? I think that if the chinese miners sell off exchanges will do it at higher prices. Exchangers ask for id documents, and this people don't want that its govern knows that they are trying to take its money out off the country.

LuckyYOU

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Transferring money to another account was one of the good things that they have done

Seeing as the market as been in the red and has been closing earlier than usual.

Zaduca

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Quote from: OROBTC on December 16, 2015, 11:14:38 PM

...

Another factor maybe worth thinking about as well re China and the US$ would be that if rates paid by US banks goes up (which probably will happen at some point), then more Chinese (and other) money will come here seeking a better return than at home. So far, the US banks have raised their loan rates, but not rates paid to savers.

Typically, the banks are slow to raise rates paid, but very quick to raise rates on loans. You see something similar happen when crude oil goes down, gasoline prices take a while to go down. But, they react much more quickly to raise prices when crude goes up.

So, if rates look like they will continue to go up (and there is a "sort of consensus" that the FED will raise two - four times next year), then I would expect MOAR Chinese money to flow here.

Interest rates in commercial banks will rise eventually. The dollar will become stronger so the money will flow out of any other countries.

OROBTC

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...

Another factor maybe worth thinking about as well re China and the US$ would be that if rates paid by US banks goes up (which probably will happen at some point), then more Chinese (and other) money will come here seeking a better return than at home. So far, the US banks have raised their loan rates, but not rates paid to savers.

Typically, the banks are slow to raise rates paid, but very quick to raise rates on loans. You see something similar happen when crude oil goes down, gasoline prices take a while to go down. But, they react much more quickly to raise prices when crude goes up.

So, if rates look like they will continue to go up (and there is a "sort of consensus" that the FED will raise two - four times next year), then I would expect MOAR Chinese money to flow here.

chennan

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Quote from: BTCRoyal on December 16, 2015, 09:04:20 PM

Billions of Dollars wouldn't effect a nations currency, as you'd think. Especially, it being CNY and also take into account that if China knew that loaning that amount would put them at risk economically they would have not made the agreement on the loan.

Are you being serious?

That kind of thinking sends governments into turmoil, spending what they can't spend and borrowing from governments. Now I know that if a government loans to another, then that means that in a way it will collect some kind of interest from it, and it is seen in the current US debt from Chinese loans... but this is not good for both sides at all.

It is basic Economics... when one major nation suffers economically, all major nations and thus fore, every nation suffers because of this. This is why cryptocurrencies matter so much... it is because a digitalized/limited currency can make all nations play on the same "playing field" and allow trading/loaning to be "fair" in some aspects.

Topic: CNN: Money is flying out of China (Read 2744 times)