Topic: Selling Detroit to the Chinese, for Bitcoin (Read 788 times)
hero member
Activity: 756
Merit: 500
It's all fun and games until somebody loses an eye
I thought it was the Chinese trying to get bitcoins? So maybe they should start selling off parts of China to get the bitcoins?
But of course
Here's a simple idea to work around the Chinese restrictions on Bitcoin. The idea is basically to use Chinese investors in foreign property as intermediaries to bootstrap a market for Bitcoin exchange in China. This gives Chinese merchants ready access to their local currency, while using Bitcoin to facilitate international trade.
(Obviously this model could be used anywhere. I just used Detroit as an example.)
Ideally you would want to do this somewhere that would enforce a contract denominated in Bitcoin.
| <- goods <- | <- yuan <- | <- property <- | ||||
| foreign goods buyer | Chinese manufacturer | Chinese property buyer | foreign property seller | |||
| -> bitcoin -> | -> bitcoin -> | -> bitcoin -> |
(Obviously this model could be used anywhere. I just used Detroit as an example.)
Ideally you would want to do this somewhere that would enforce a contract denominated in Bitcoin.
Jump to: