Topic: CNN: Money is flying out of China - page 2. (Read 2744 times)
I don't really understand why they would want to do this, and I don't think they do. Anyways, Bitcoin is still a very good investment to have.
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>
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.
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!
I think reason behind the large fall in China’s reserves in November would be that the total is reported in U.S. dollars. The dollar acquired in value against other foreign currencies recently, meaning any pounds or yen China held would look less valuable.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!
The rich Chinese will not buy bitcoin in exchanges. They will buy it off the exchange. There are so many miners there.
Yuan is a little bit like the second tier crypto currencies. Everybody seems to want USD in the end and CNY is there to just facilitate the growth of their USD.
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!
I think reason behind the large fall in China’s reserves in November would be that the total is reported in U.S. dollars. The dollar acquired in value against other foreign currencies recently, meaning any pounds or yen China held would look less valuable. 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!
CNN,That trilions didnt move from.It is data from forex exchange,what way money flow,also it is drop in exchange
It is becouse Chinise moved awayyuan from dollar basquets,Thay dont want to be yuan related to dollar
Whatever debt economy crash is coming
It is becouse Chinise moved awayyuan from dollar basquets,Thay dont want to be yuan related to dollar
Whatever debt economy crash is coming
Everytime that there's something going on with China the price of Bitcoin has been going up lately, it's pretty much now a confirmed pattern, I would say almost guaranteed that when something is about to happen with China capital controls it's a really good time to buy in if you are feeling lucky and think you can time the market to short some of your BTC.
Well, if China dumps the mass USD reserve that they have right now the US economy is going to be collapsing for sure.
The reason that China isn't doing it on a mass scale yet is because they want to make sure that the USD they have retains their value.
The reason that China isn't doing it on a mass scale yet is because they want to make sure that the USD they have retains their value.
Years of exploiting both people and land have come to charge their price, and it's not surprising either. China is well known as one of the leaders in
productions, but don't be mistaken, that can change faster than you think. CNY is as strong as what's backing it, and lately it's not much, and getting lesser by the day.
cheers
productions, but don't be mistaken, that can change faster than you think. CNY is as strong as what's backing it, and lately it's not much, and getting lesser by the day.
cheers
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!
This is probably the reason why we see the rise of bitcoin price. China is at it again 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!
Chinese people never had faith in their own currency (quite surprisingly, as we know that their economy very strong) they believed that yuan is sub par to Dollar.
So this of money flying out of China tendency is nothing odd and could help us establish even higher bitcoin price as a result. Good news for bitcoin community.
So this of money flying out of China tendency is nothing odd and could help us establish even higher bitcoin price as a result. Good news for bitcoin community.
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!
This is probably the reason why we see the rise of bitcoin price. China is at it again 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!
Yeah I read an article about China's falling yuan being one of the reasons for increasing the price of bitcoins.
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.
Many chinese try to take some savings out of the country in an attempt to flea or to protect agains government capital control. This is a reaction to the huge tax load and an attempt to preserve one's wealth from the government
One of the reasons the chinese governement is that it is being used to transfer money outside of china. It's much easier (noone can regulate it like the banks).
The Russians have/had the same motive. And to be honest I think they are too late. Bitcoin has grown too much...
The Russians have/had the same motive. And to be honest I think they are too late. Bitcoin has grown too much...
How many people did suffer from their actions ?
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.
This is what happens when a goverment tries to control people's capital, in combination with the fact the paradigm has shifted since 2009 and now people can be able to move wealth from A to B no matter how far A from B is and no matter what regulations you would have needed with other non-Bitcoin mediums of wealth transfer. This is a revolution and most people still don't get it.
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