Topic: Why has bitcoin had success in China? - page 7. (Read 7721 times)
i think part of the big success if any, is about the mining of bitcoin and the big mining farms that are located in China. that alone will create a lot of publicity for bitcoin and makes the mining farm owners big whales. but also another part of it is because they are not so close minded like other countries like US about the new technologies and have embrace it so far.
How do you define "success"? I think only a very very small percentage of Chinese is using bitcoin. Not many merchants in China accept bitcoins. It is still far from "success" IMO.
yeah, we can't call it "success" as long as the usage of bitcoin is not 80% to 90%.so OP should explain how success he meant.
but I think the reason why bitcoin is easier to be accepted is interesting. Q coin. I wonder do Chinese people already abandon the Q coin.
Honestly I think it has a lot of success because of the miners that are used there, there are just so much miners in china its ridiculous.
I think that is the point plus they are thinking its a good currency, Chinese people love new things.
I think that is the point plus they are thinking its a good currency, Chinese people love new things.
Evading capital controls would seem a logical use for bitcoin.
Also gambling, and "investing" in one of the biggest Bitcoin based scams in the world, MMMGlobal.
Why else would their log in page be showing nearly 3 million Chinese visits a month and a place in the top 1000 most visited websites?
Also gambling, and "investing" in one of the biggest Bitcoin based scams in the world, MMMGlobal.
Why else would their log in page be showing nearly 3 million Chinese visits a month and a place in the top 1000 most visited websites?
Capital controls would be a big thing to encourage use of bitcoin. Does China have wide spread cheap power from hydro ? I thought they required lots of coal and lacked natural oil and had to import it all.
I know they have the worlds largest dam linked to hydro power, a reservoir so massive it altered the rotation of the earth or so I read
http://www.businessinsider.com/chinas-three-gorges-dam-really-will-slow-the-earths-rotation-2010-6?IR=T
I know they have the worlds largest dam linked to hydro power, a reservoir so massive it altered the rotation of the earth or so I read
http://www.businessinsider.com/chinas-three-gorges-dam-really-will-slow-the-earths-rotation-2010-6?IR=T
Billions of US dollars are moving out of China, how much of that is in bitcoin? The volume in Chinese exchanges are just fake.
Its a shame to see that type of manipulation.
Since bitcoin needs more credibility then anything else, that just makes the whole exchange scene rigged as hell. And not knowing if a exchange will flop based on fake volumes.
The reason why I think Bitcoin had succes in China is because Bitcoin is invented in Asia. China is one of the biggest country in Asia and China has the biggest population of people in world. So many Chinese people noticed Bitcoin quick.
It's not ture. In China prices on electricity is so good for mining and also a lot of miners moving to China cause of it. Same situation in other aisan countries.
The reason why I think Bitcoin had succes in China is because Bitcoin is invented in Asia. China is one of the biggest country in Asia and China has the biggest population of people in world. So many Chinese people noticed Bitcoin quick.
How do you define "success"? I think only a very very small percentage of Chinese is using bitcoin. Not many merchants in China accept bitcoins. It is still far from "success" IMO.
I'd say a very small percentage, and that goes for the rest of the world as well. And there was a virtual currency back in late 99 or 2000 called Flooz, which was supposed to the hot new "internet money" but it never took off because it was so much easier just to use credit cards. That was in the US. China just has so many people that it makes sense they account for the majority of users. 
because china that has the largest population in the world . so any kind of goods only or something what I was thrown into china must be sold . and also China has the world's largest bitcoin community . Well the great china . until there is a proverb that says " Seek knowledge even though up to the land of china " .
I am guessing is, because with there economy they are just trying more and more methods to do it will.
With that a lot of Chinese people is also doing bitcoin I am glad that something is going well with bitcoin.
With that a lot of Chinese people is also doing bitcoin I am glad that something is going well with bitcoin.
Because is china.
They know a lot of number and pc
no joke.
Because in china is always busy they have some good methods there I think when you are there is 5 years a head than here.
They know a lot of number and pc
no joke.Because in china is always busy they have some good methods there I think when you are there is 5 years a head than here.
because the government doesnt control bitcoin. its easy to move black market money. you can buy something online and trade for clean cash.
Because there is rapidly growing business. They just use all methods to get into a business and sell products. Bitcoin is good instrument as payment is fast and reliable world wide.
Other thing is that people in China want to invest they money to Bitcoin.
Other thing is that people in China want to invest they money to Bitcoin.
Bitcoins aren't necessarily more successful in China compared to the US, UK, Germany or Russia. One reason, as many other users mentioned, is the ability to move funds out of China anonymously
the reason is because they are more in numbers, so you will notice more the success with chinese than other countries combines, but the adoption is there in many other zone like in europe for example
europe in opposite to USa and company is not hinder bitcoin at all, and the adoption is looking good
The number of people is not the answer to everything. Bitcoin has been successful in China, but has had less success in other populous Asian countries like India, Pakistan and Bangladesh. You could easily have those giant mining farms set up in countries like Bangladesh as well.
because those country have a bad position toward bitcoin, they have hinder its adoption, in bangladesh for example they put you in jail if you own bitcoin
Bitcoins aren't necessarily more successful in China compared to the US, UK, Germany or Russia. One reason, as many other users mentioned, is the ability to move funds out of China anonymously
the reason is because they are more in numbers, so you will notice more the success with chinese than other countries combines, but the adoption is there in many other zone like in europe for example
europe in opposite to USa and company is not hinder bitcoin at all, and the adoption is looking good
The number of people is not the answer to everything. Bitcoin has been successful in China, but has had less success in other populous Asian countries like India, Pakistan and Bangladesh. You could easily have those giant mining farms set up in countries like Bangladesh as well.
I'd imagine that there are a variety of reasons contributing to its success there. for one, the large population means that even if only a small percentage of the people embrace it, that's still constitutes potentially millions of people. In addition, electricity is cheap and I'd imagine building a mining rig is cheaper there. Finally, there is the gambling mentality that is quite present in Chinese society.
Bitcoins aren't necessarily more successful in China compared to the US, UK, Germany or Russia. One reason, as many other users mentioned, is the ability to move funds out of China anonymously
Well, I hope that those guys are aware of the fact that if you reveal your identiy when you are getting your Bitcoins (through an exchange of sorts) you are not going to be as anonymous as you would want to be when you are trying to get your wealth out of the government's hands. I wouldn't like to see innocent people that just want ot get their money out of there getting in problems because they fail to take the required steps to make Bitcoin as anonymous as it should be by default (lets hope in the future this changes). 
Very good explenation,i can also add that Chiinise love to gamble,investing in bitcoin or in stock is kind of legal gambling for them
The chinese never gamble blindly, they do research before getting inside the investment so with alot of chinese getting into bitcoin then that is a signal that it is actually a good thing to invest in for this time. The chinese will not hesitate to dump every of their bitcoin and move on if it is not profitable anymore
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