I read somewhere that he's from China and only is/was studying in Singapore.
Aha - be interesting to know if he'd heard about it before he started studying there then.
Topic: How big is Bitcoin's presence in China? (Read 7413 times)
Aha - be interesting to know if he'd heard about it before he started studying there then.
Isn't/wasn't he a 17 year old Singapore student?
I read somewhere that he's from China and only is/was studying in Singapore. 
BitVPS has multiple Chinese clients who all pay with Bitcoin.
I'm not sure what this means in grand scheme of things. Being a specialized service provider accepting Bitcoin; it would stand to reason that there's more than a few people in China who like/know about Bitcoin.
I'm not sure what this means in grand scheme of things. Being a specialized service provider accepting Bitcoin; it would stand to reason that there's more than a few people in China who like/know about Bitcoin.
Isn't/wasn't he a 17 year old Singapore student?
Following the article on Reuters, I'm curious. How did Zhoutong hear about bitcoin and start following it if the following for it is so small in China? To follow a global trend that is small in your own country requires a great ability to see things from an outside perspective.
362 at the moment..
http://bitcoinstatus.rowit.co.uk/countryHosts.html
Note that is was 2500 in week 39 of last year.
http://bitcoinstatus.rowit.co.uk/countryHosts.html
Note that is was 2500 in week 39 of last year.
Servers outside of China might have a difficult time getting a full picture of the network in those scripts, I'd be interested in seeing some kind of network analysis from within China as they would be behind the firewall then.
362 at the moment..
http://bitcoinstatus.rowit.co.uk/countryHosts.html
Note that is was 2500 in week 39 of last year.
http://bitcoinstatus.rowit.co.uk/countryHosts.html
Note that is was 2500 in week 39 of last year.
Yikes, seems that globalization has really done its part there.
Eurofag here, was a small time miner (+/- 4Ghash/s), but quit.
I'm flying to Beijing in few weeks for few months to write my master's thesis on civil liberties on the Web in China. A section shall have crypto-currency as subject, focusing on Bitcoin.
In a previous post was mentionned the fact that western uses are not present in China. Vastly used, cash provides same anonymity as Bitcoin does. What could be the main reasons Chinese would use Bitcoin ?
What'd be the threshold for the PRC Government to intervene on the Bitcoin subject ?
p.s. as poor student, also looking to make extra $$, any tips on getting advantages on my travel ? (import goods ? btc wallet on usb ?!
)
I'm flying to Beijing in few weeks for few months to write my master's thesis on civil liberties on the Web in China. A section shall have crypto-currency as subject, focusing on Bitcoin.
In a previous post was mentionned the fact that western uses are not present in China. Vastly used, cash provides same anonymity as Bitcoin does. What could be the main reasons Chinese would use Bitcoin ?
What'd be the threshold for the PRC Government to intervene on the Bitcoin subject ?
p.s. as poor student, also looking to make extra $$, any tips on getting advantages on my travel ? (import goods ? btc wallet on usb ?!
)Chinese would use Bitcoin as an investment opportunity, they would also use it to pay for some internet services that are illegal in China.
The Bitcoin subject is far too negligible for the PRC Government. Running exchanges might violate the current laws, but the Bitcoin network as a whole will not be an attacking target of the government in at least several years.
answer to your p.s.: I could give you some general advice. Cameras, pads, and laptops are considerably more expensive in China, because of the tariff and VAT. You could take some of them and sell. Perfume, cosmetics and jewelry are also profitable. Finding enough buyers is not easy though. On the other hand, pirate books, DVDs and software are everywhere in China and they are nearly free. You could carry some back to your country if you are not morally against it and ready to take the risk when passing the customs. I suggest you to enter China via Shanghai or Beijing. The probability of getting your luggage checked in southern China cities is much higher.
Sometimes when I fly to China I take a bag full of ipads, gucci purses, ect. That pays for my flight itself.
Many normal Chinese people play with the stock market. I tell some that what they do is too risky but they do it anyway. It is basically gambling, but if they knew they could do the same thing with bitcoins....
You mean those Hong Kong people. They're crazy about the forex and stock market.
No Chinese. I have been in small villages outside of Qingdao and people are on their computer screaming as the price goes up or down.
Eurofag here, was a small time miner (+/- 4Ghash/s), but quit.
I'm flying to Beijing in few weeks for few months to write my master's thesis on civil liberties on the Web in China. A section shall have crypto-currency as subject, focusing on Bitcoin.
In a previous post was mentionned the fact that western uses are not present in China. Vastly used, cash provides same anonymity as Bitcoin does. What could be the main reasons Chinese would use Bitcoin ?
What'd be the threshold for the PRC Government to intervene on the Bitcoin subject ?
p.s. as poor student, also looking to make extra $$, any tips on getting advantages on my travel ? (import goods ? btc wallet on usb ?! )
I'm flying to Beijing in few weeks for few months to write my master's thesis on civil liberties on the Web in China. A section shall have crypto-currency as subject, focusing on Bitcoin.
In a previous post was mentionned the fact that western uses are not present in China. Vastly used, cash provides same anonymity as Bitcoin does. What could be the main reasons Chinese would use Bitcoin ?
What'd be the threshold for the PRC Government to intervene on the Bitcoin subject ?
p.s. as poor student, also looking to make extra $$, any tips on getting advantages on my travel ? (import goods ? btc wallet on usb ?!
)Chinese would use Bitcoin as an investment opportunity, they would also use it to pay for some internet services that are illegal in China.
The Bitcoin subject is far too negligible for the PRC Government. Running exchanges might violate the current laws, but the Bitcoin network as a whole will not be an attacking target of the government in at least several years.
answer to your p.s.: I could give you some general advice. Cameras, pads, and laptops are considerably more expensive in China, because of the tariff and VAT. You could take some of them and sell. Perfume, cosmetics and jewelry are also profitable. Finding enough buyers is not easy though. On the other hand, pirate books, DVDs and software are everywhere in China and they are nearly free. You could carry some back to your country if you are not morally against it and ready to take the risk when passing the customs. I suggest you to enter China via Shanghai or Beijing. The probability of getting your luggage checked in southern China cities is much higher.
Sometimes when I fly to China I take a bag full of ipads, gucci purses, ect. That pays for my flight itself.
Many normal Chinese people play with the stock market. I tell some that what they do is too risky but they do it anyway. It is basically gambling, but if they knew they could do the same thing with bitcoins....
You mean those Hong Kong people. They're crazy about the forex and stock market.
Many normal Chinese people play with the stock market. I tell some that what they do is too risky but they do it anyway. It is basically gambling, but if they knew they could do the same thing with bitcoins....
like Bitlotto where 99% of the funds bet are returned as a jackpot prize to the winner, last one was > 100 coins
https://bitcointalk.org/index.php?topic=34007.0;all
Eurofag here, was a small time miner (+/- 4Ghash/s), but quit.
I'm flying to Beijing in few weeks for few months to write my master's thesis on civil liberties on the Web in China. A section shall have crypto-currency as subject, focusing on Bitcoin.
In a previous post was mentionned the fact that western uses are not present in China. Vastly used, cash provides same anonymity as Bitcoin does. What could be the main reasons Chinese would use Bitcoin ?
What'd be the threshold for the PRC Government to intervene on the Bitcoin subject ?
p.s. as poor student, also looking to make extra $$, any tips on getting advantages on my travel ? (import goods ? btc wallet on usb ?! )
I'm flying to Beijing in few weeks for few months to write my master's thesis on civil liberties on the Web in China. A section shall have crypto-currency as subject, focusing on Bitcoin.
In a previous post was mentionned the fact that western uses are not present in China. Vastly used, cash provides same anonymity as Bitcoin does. What could be the main reasons Chinese would use Bitcoin ?
What'd be the threshold for the PRC Government to intervene on the Bitcoin subject ?
p.s. as poor student, also looking to make extra $$, any tips on getting advantages on my travel ? (import goods ? btc wallet on usb ?!
)Chinese would use Bitcoin as an investment opportunity, they would also use it to pay for some internet services that are illegal in China.
The Bitcoin subject is far too negligible for the PRC Government. Running exchanges might violate the current laws, but the Bitcoin network as a whole will not be an attacking target of the government in at least several years.
answer to your p.s.: I could give you some general advice. Cameras, pads, and laptops are considerably more expensive in China, because of the tariff and VAT. You could take some of them and sell. Perfume, cosmetics and jewelry are also profitable. Finding enough buyers is not easy though. On the other hand, pirate books, DVDs and software are everywhere in China and they are nearly free. You could carry some back to your country if you are not morally against it and ready to take the risk when passing the customs. I suggest you to enter China via Shanghai or Beijing. The probability of getting your luggage checked in southern China cities is much higher.
Sometimes when I fly to China I take a bag full of ipads, gucci purses, ect. That pays for my flight itself.
Many normal Chinese people play with the stock market. I tell some that what they do is too risky but they do it anyway. It is basically gambling, but if they knew they could do the same thing with bitcoins....
I was surprised that S. Korea didn't register more interest being all high tech & stuff
Koreans tend to not access non-Korean sites. They have their own domestic facebook type systems, search engines etc, so unless something has a significant Korean language presence the aren't likely to notice it.
I do think they'd like it. Retail Forex trading isn't accessible from here. Korean citizens aren't allowed into casinos and things like that. Access to that kind of thing via BTC would be right up their alley.
Unfortunately there isn't an easy way to get KRW into BTC and vice versa. Banking regs are still quite strict here as a result of the currency crisis in the late 90s, so the likelihood of an exchange getting off the ground here is quite low. Which is a shame because they have non-revocable (as far as I'm aware based on what the bank websites tell me when I make transfers), domestic, interbank transfers that are essentially free.
Ogrr could wind up serving as a niche market to introduce Korea to Bitcoin. We're all aware of the extent to which Koreans love Blizzard games. Reports are that that the new real-money auction house feature of Diablo III will not be available in Korea, due to concerns that it resembles gambling. This will encourage players to continue privately trading virtual items. The Korean-language subforum (한국어) already shows significantly more activity than any other language subforum: https://ogrr.com/forum.php?f=45
They should lead the bitcoin market in my opinion, the gaming culture there means there will be no shortage of powerful graphics cards to mine with.
I was surprised that S. Korea didn't register more interest being all high tech & stuff
Koreans tend to not access non-Korean sites. They have their own domestic facebook type systems, search engines etc, so unless something has a significant Korean language presence the aren't likely to notice it.
I do think they'd like it. Retail Forex trading isn't accessible from here. Korean citizens aren't allowed into casinos and things like that. Access to that kind of thing via BTC would be right up their alley.
Unfortunately there isn't an easy way to get KRW into BTC and vice versa. Banking regs are still quite strict here as a result of the currency crisis in the late 90s, so the likelihood of an exchange getting off the ground here is quite low. Which is a shame because they have non-revocable (as far as I'm aware based on what the bank websites tell me when I make transfers), domestic, interbank transfers that are essentially free.
Ogrr could wind up serving as a niche market to introduce Korea to Bitcoin. We're all aware of the extent to which Koreans love Blizzard games. Reports are that that the new real-money auction house feature of Diablo III will not be available in Korea, due to concerns that it resembles gambling. This will encourage players to continue privately trading virtual items. The Korean-language subforum (한국어) already shows significantly more activity than any other language subforum: https://ogrr.com/forum.php?f=45
Eurofag here, was a small time miner (+/- 4Ghash/s), but quit.
I'm flying to Beijing in few weeks for few months to write my master's thesis on civil liberties on the Web in China. A section shall have crypto-currency as subject, focusing on Bitcoin.
In a previous post was mentionned the fact that western uses are not present in China. Vastly used, cash provides same anonymity as Bitcoin does. What could be the main reasons Chinese would use Bitcoin ?
What'd be the threshold for the PRC Government to intervene on the Bitcoin subject ?
p.s. as poor student, also looking to make extra $$, any tips on getting advantages on my travel ? (import goods ? btc wallet on usb ?! )
I'm flying to Beijing in few weeks for few months to write my master's thesis on civil liberties on the Web in China. A section shall have crypto-currency as subject, focusing on Bitcoin.
In a previous post was mentionned the fact that western uses are not present in China. Vastly used, cash provides same anonymity as Bitcoin does. What could be the main reasons Chinese would use Bitcoin ?
What'd be the threshold for the PRC Government to intervene on the Bitcoin subject ?
p.s. as poor student, also looking to make extra $$, any tips on getting advantages on my travel ? (import goods ? btc wallet on usb ?!
)Chinese would use Bitcoin as an investment opportunity, they would also use it to pay for some internet services that are illegal in China.
The Bitcoin subject is far too negligible for the PRC Government. Running exchanges might violate the current laws, but the Bitcoin network as a whole will not be an attacking target of the government in at least several years.
answer to your p.s.: I could give you some general advice. Cameras, pads, and laptops are considerably more expensive in China, because of the tariff and VAT. You could take some of them and sell. Perfume, cosmetics and jewelry are also profitable. Finding enough buyers is not easy though. On the other hand, pirate books, DVDs and software are everywhere in China and they are nearly free. You could carry some back to your country if you are not morally against it and ready to take the risk when passing the customs. I suggest you to enter China via Shanghai or Beijing. The probability of getting your luggage checked in southern China cities is much higher.
Eurofag here, was a small time miner (+/- 4Ghash/s), but quit.
I'm flying to Beijing in few weeks for few months to write my master's thesis on civil liberties on the Web in China. A section shall have crypto-currency as subject, focusing on Bitcoin.
In a previous post was mentionned the fact that western uses are not present in China. Vastly used, cash provides same anonymity as Bitcoin does. What could be the main reasons Chinese would use Bitcoin ?
What'd be the threshold for the PRC Government to intervene on the Bitcoin subject ?
p.s. as poor student, also looking to make extra $$, any tips on getting advantages on my travel ? (import goods ? btc wallet on usb ?! )
I'm flying to Beijing in few weeks for few months to write my master's thesis on civil liberties on the Web in China. A section shall have crypto-currency as subject, focusing on Bitcoin.
In a previous post was mentionned the fact that western uses are not present in China. Vastly used, cash provides same anonymity as Bitcoin does. What could be the main reasons Chinese would use Bitcoin ?
What'd be the threshold for the PRC Government to intervene on the Bitcoin subject ?
p.s. as poor student, also looking to make extra $$, any tips on getting advantages on my travel ? (import goods ? btc wallet on usb ?!
)Although gold would be better suited for this, but i have no idea what the laws on gold are in PRC.
Unfortunately they do not have that right either.Quote
Article 3. The State shall pursue a policy of unified control, monopoly purchase and distribution of gold and silver.
source:http://www.asianlii.org/cn/legis/cen/laws/rotcogas425/that article is horrific, totally draconian - I wonder if it's enforced as written, I was under the impression that the PRC gov was encouraging their peep's personal private purchase of PMs atm, gold especially, and that it was State purchaser of all PRC gold mining production for it's own coffers (a hell of a lot of world % produced) plus importing too for CB bullion reserves purchases
but if it is so repressive re gold, ie no more than about an ounce can be taken out by anyone, then Bitcoins will serve a need there by those who wish to not be bound by said controls & so may flourish for that, whether banned at a latter date or not
Although gold would be better suited for this, but i have no idea what the laws on gold are in PRC.
Unfortunately they do not have that right either.Quote
Article 3. The State shall pursue a policy of unified control, monopoly purchase and distribution of gold and silver.
source:http://www.asianlii.org/cn/legis/cen/laws/rotcogas425/ 
China is only an industrial super power because they keep their currency fixed.
That's quite an exaggeration. They prevent their currency from appreciating by printing more of it, this makes Chinese goods cheaper to foreigners and subsidizes exports. However, it simultaneously limits imports and stifles growth in other ways. If "fixing a currency" was all it took to become an industrial super power, we'd see lots more industrial super powers.
I have heard that the PRC is starting to see some inflation, although i do not have hard facts. But i do know, the moment they stop fixing the the RMB, the industrial base will not be able to be sustained.
They're not "starting" to see it - they are the ones causing it and it's not a new phenomenon. As mentioned above, the way they keep their currency debased is by inflating it, so of course there is inflation
The moment they stop fixing the RMB, it'll appreciate, the average Chinese person will suddenly have vastly higher purchasing power, and their economy will change/evolve to cater to the new dynamics. Their industrial base may strengthen after such an incident, as domestic demand may outpace the fall in foreign demand. Too many factors to make conclusive statements like that. Economies are dynamic creatures.
...I have heard that the PRC is starting to see some inflation...
Inflation is rough there. From May 2011 to December 2011 the inflation on basic foods was up 5-10% in the same markets.
Isn't the interest rate also high out there?
The actual interest rate is indeed very high. But you'll have to know the right place to invest first.
A lot of people can't get loans anyway though. They borrow from family. I don't see many people getting loans as the housing market is slowing down in China. In Guangzhou they have cut some prices by 75%.
In Jiangsu and Zhejiang, a vast number of small and medium sized manufacture companies, which contribute to a considerable portion of the whole economy, rely on loans to live and thrive. They usually get private loans, because banks usually aren't willing to let them borrow.
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