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Topic: We need to wake up fast before china will eat all the BTC.. (Read 2078 times)

full member
Activity: 219
Merit: 106
The Chinese are well known as savers. IMO, BTC will have an ultimate valuation of atleast 1 million USD/BTC. And the Chinese are more likely to hoard the coins and reach that goal. The West is more likely to be oblivious of BTC's true end valuation and will most likely sell the coins before they even reach their true potential. What this means is that in the end they will end up with more millionaires than us. Where do you think they will invest that money? In their home country of course. This will cause a huge economic shift in power that has enormous geopolitical implications.

Yep.  They keep doing the right thing and it will pay off in the end.  The west continues to spend beyond its means and will have to pay the piper eventually.
Rubbish! We can always print more money with absolutely no negative consequences whatsoever Grin
legendary
Activity: 1904
Merit: 1002
The Chinese are well known as savers. IMO, BTC will have an ultimate valuation of atleast 1 million USD/BTC. And the Chinese are more likely to hoard the coins and reach that goal. The West is more likely to be oblivious of BTC's true end valuation and will most likely sell the coins before they even reach their true potential. What this means is that in the end they will end up with more millionaires than us. Where do you think they will invest that money? In their home country of course. This will cause a huge economic shift in power that has enormous geopolitical implications.

Yep.  They keep doing the right thing and it will pay off in the end.  The west continues to spend beyond its means and will have to pay the piper eventually.
newbie
Activity: 35
Merit: 0
The Chinese are well known as savers. IMO, BTC will have an ultimate valuation of atleast 1 million USD/BTC. And the Chinese are more likely to hoard the coins and reach that goal. The West is more likely to be oblivious of BTC's true end valuation and will most likely sell the coins before they even reach their true potential. What this means is that in the end they will end up with more millionaires than us. Where do you think they will invest that money? In their home country of course. This will cause a huge economic shift in power that has enormous geopolitical implications.
legendary
Activity: 3514
Merit: 1280
English ⬄ Russian Translation Services
china shall rule the world. I love chinese food. fuck murica

They are not that kind of people like Germans, English or Russians. They avoid open confrontation, whenever in history they got engaged in an open conflict they suffered badly since medieval times (Mongols conquest) till not so long ago (Japanese occupation). If ever, they would prefer some tacit "peaceful" subjugation through primarily economic ways...
member
Activity: 70
Merit: 10
umad?
china shall rule the world. I love chinese food. fuck murica
legendary
Activity: 1904
Merit: 1002
Does the fiat leak website take into account when someone sells bitcoin for fiat? otherwise its pretty useless...

Every trade has a buyer and a seller.

This is true, but consider this...If someone is buying a bitcoin from a seller who is selling for a loss (fiat loss), the flow is reversed (fiat flowing out of bitcoin rather than into it), and I'm not sure that website takes that into account?

That sounds like nonsense.  Bitcoin is not a fiat reservoir.  Money flows into exchanges to buy, and then flows out to the seller.  Bitcoins transfer ownership, fiat transfers ownership.  Nothing was created or destroyed.

And no, that site doesn't consider individual traders' profits and losses.  This information is not public.
newbie
Activity: 7
Merit: 0
Does the fiat leak website take into account when someone sells bitcoin for fiat? otherwise its pretty useless...

Every trade has a buyer and a seller.

This is true, but consider this...If someone is buying a bitcoin from a seller who is selling for a loss (fiat loss), the flow is reversed (fiat flowing out of bitcoin rather than into it), and I'm not sure that website takes that into account?
legendary
Activity: 1904
Merit: 1002
Does the fiat leak website take into account when someone sells bitcoin for fiat? otherwise its pretty useless...

Every trade has a buyer and a seller.
newbie
Activity: 7
Merit: 0
Does the fiat leak website take into account when someone sells bitcoin for fiat? otherwise its pretty useless...
hero member
Activity: 924
Merit: 1001
The Chinese are buying more.

Because the Chinese are smarter than we are Smiley

hero member
Activity: 784
Merit: 1000
How many times do you guys need to hear this? The volume in China is a lot higher because of the 0 transaction fee.

This.
legendary
Activity: 1904
Merit: 1002
guys we need to start waking up.. or china will dominate btc at this buying rate..

7500+ BTC bought with Yuan, 561 BTC bought in USD - all in 01:54 hours and rising.. http://fiatleak.com/
somthing isn't right

You do realize they buy those coins form other chinese right? =))))))

Are you sure this is not a net surplus by country?

I don't know if he is sure, but I am.  The site merely shows exchange volume for each currency, and only for some exchanges.  There is no data source for "net surplus by country".
sr. member
Activity: 260
Merit: 250
Let's not forget satoshi - by far the biggest BTC owner - is definitely not chinese  Grin
legendary
Activity: 2282
Merit: 1050
Monero Core Team
This rally seems to be driven only by MTGox with most of the other exchanges, and this includes those in China, trading around 10% below. http://btckan.com/price

I strongly suspect speculation by margin accounts on Plus500 and AvaTrade, that is reflected on the MTGox price. We are talking about the short term high risk traders on margin here.
newbie
Activity: 17
Merit: 0
Bitcoin ownership will become more diverse once it starts to gain popularity in India.
hero member
Activity: 826
Merit: 501
in defi we trust
Relevant:


US has Already Ceded Dominance in Bitcoin Trading:

http://www.coindesk.com/us-already-ceded-dominance-bitcoin-trading/


What it matters is who has those bitcoins , and the us and eu have the most by far.
full member
Activity: 181
Merit: 100
How many times do you guys need to hear this? The volume in China is a lot higher because of the 0 transaction fee.
hero member
Activity: 574
Merit: 506



guys we need to start waking up.. or china will dominate btc at this buying rate..

7500+ BTC bought with Yuan, 561 BTC bought in USD - all in 01:54 hours and rising.. http://fiatleak.com/
somthing isn't right

You do realize they buy those coins form other chinese right? =))))))

I wouldnt be so sure, BTC-E lagged behind China by huge margin until yersteday. Gox and Stamp before that...
sr. member
Activity: 294
Merit: 250
Relevant:


US has Already Ceded Dominance in Bitcoin Trading:

http://www.coindesk.com/us-already-ceded-dominance-bitcoin-trading/
legendary
Activity: 3514
Merit: 1280
English ⬄ Russian Translation Services
guys we need to start waking up.. or china will dominate btc at this buying rate..

7500+ BTC bought with Yuan, 561 BTC bought in USD - all in 01:54 hours and rising.. http://fiatleak.com/
somthing isn't right

You do realize they buy those coins form other chinese right? =))))))

Are you sure this is not a net surplus by country?
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