Bitcoin Forum

I think there are needs of alternative currency to store value for Chinese central government as well as the 1.3 billion Chinese people.

Gold is a good option , but most of gold is store underneath in the USA and regulating by the Federal Government. they might worry about that price will manipulate by the Federal Government. As current news indicate that USA government refused to return back Gold to Germany because audit fraud. As the natural attribute of Gold, it is impossibly to cut apart into small amount for daily transaction.

Lets think about USD, Although Chinese Government hold massive amount of USD as its foreign exchange reserve, in fact , the value of those foreign exchange reserve had decrease caused by the increase value of YUAN. No matter what the reason cause this phenomenon, the consequence of this Chinese people needs another commodity or currency which will not affect by any government manipulate. Bitcoin  is still far distance to carry out this vision today , but remember there are 1.3 billion people seeking alternative things to store there wealth. even 1 million Chinese people had jumped into this market the price will be boost to significantly high.

 the poor performance of Chinese security stock will ultimately causing some of its investors lose faith and finding opportunity some where else.

 Although Bitcoin still not in mainstream, I think this question is only can be answer by time and if it succeed then it will change the way we understand of currency.

 Lets hope that the chinese do start to use bitcoin because then the value will skyrocket.

it is NOT likely to happen in China.

If the Chinese do start using Bitcoin more then we can expect to see a huge price rise, which isn't that good for me as I don't really have many Bitcoins and have more Litecoins but maybe I will start buying more while the price is pretty low like it is at the moment.

Regards,

Martin.

Ooooo.............the chinese are coming................Ooooooo..............the ASICs are coming................Oooooo.............The ???? are coming.

(insert the next thing to kill bitcoin mining)

M

 ;D  Winter is coming...

K.

Yes, there are a lot of people in China but the average income is only a few hundred dollars a month.

I think BTC is become more popular after the major media had report to it on Wednesday , more and more people will looking into it, Chinese people like new things and will take more risk ,because they natural are gamble. If you see the BTC price had increase those day after big crash on 1 of May. it might explaining that the report of BTC had made some effort.

I agree there will probably be some level of interest in China. How much impact that will have in the short term will depend on what sort of Chinese person takes an interest.

There is China coin.

The chinese market is what I'm betting on.

Just be alert! Nobody knows what changes bitcoin how.

I agree with OP, China has been taking Americas money for a long time now. They are wealthy and numerous.

CHINA COIN FOR ALL

And when the value skyrockets, some people will cash in before everyone figures out that the value has skyrocketed and its profitable to mine, and then everyone will start mining and the difficulty will skyrocket. Oh well:) I support Bitcoin as a currency and would like to see the Chinese adopting it.

I still fear it may be just a pump and dump, hopefully it starts to become widely used.

Regards,

Martin.

I think there are huge demand in China to transfer there money to abroad without regulator.

This reminds me of the online gambling world, where people spent years going "the Chinese are coming any day now and are going to make us all rich!". Since they're so far away and we don't really know what's going on so much there, it's easy to pin all our hopes on them.

Don't think so.

if people jumping only for speculation, then Bitcoin will be die soon.....

I hope will have more people really understand to Bitcoin, and use it as a currency.














 

one day, Bitcoin become equilibrium I think the demand for it will be huge.

Search for CNC.

The Chinese will take over everything because they are cool like that.

There was a post somewhere saying that china had the most downloads of the bitcoin client for the day or for the past month.

http://sourceforge.net/projects/bitcoin/files/Bitcoin/stats/timeline

^^ here

As the Chinese miner the ASICEMINER had upgrade their system to 14200 GH/S.  almost double in past month, and equa to 17% of total.      this just crazy they miner 800 bitcoin per day,  caculate with current value they will generate a revenue about 25million USD in this year.....OMG

The chinese people miner most Bitcoin over all network.. I feel BTC next Bullish will depend on them..

Actually winter helps, keep a window open and keep your GPU's cooler!

M

We have no problem with that here in the UK, it's freezing.

Very interesting, CNC is doing pretty well maybe we will see more Asian coins soon?

Or even a world wide coin that combines all users for a stronger coin...oh wait...

It will take years for Bitcoin to be easily usable as a currency.

Bitcoin is cool and hope everyone can enjoy it!~~  :)

Though China has quite the internet censorship regime..

ohhh... i just remembered all those CHINESE botters in online games... like WOW/DIABLO3 etc...

:D

?

those chinese botter are very well play on those online game....LOL 

Let's imaging one day all countries setting trading balance by BITCOIN....I just too believing in BTC concept...

That's entirely possible, given how Chinese young kids are such expert at learning via Internet.

Chinese --> "Yellow Danger" ;-)

Why ???if you hold large amount of bitcoin, you should appreciate more people jumping into it.

most of them ,just professional game player. I guess...

why would they want to do that..?

The Chinese did not take over bitcoin today.

Faaar more of the westernized world use bitcoin you can even tell by the forum posts look at how many threads on bitcoin talk chinese and here.

The more the merrier I say. Wider adoption is a very good thing.

New here, but not new to Bitcoin.  I am involved in implementation of Bitcoin payments for several companies.  I also meet up with locals (face to face) to exchange BTC for USD and discuss all things Bitcoin while waiting for a few transaction confirmations.

I just read the CCTV Bitcoin Documentary transcript this evening per recommended reading during a USD/BTC exchange earlier today.  I was very surprised to learn that China was promoting the use of Bitcoin and promoting individuals buy/hold gold until today.  The fact that the Chinese exchanges are somewhat isolated from the rest of the world is a bit of a disappointment, but I would still expect Chinese consumption of BTC to have a positive impact on Bitcoin for everyone else.

Expect a lot more miners...

look at it this way we have a two week window to get cheep coins. when gox sets up all those 15000 acounts plus the 1000+ a day they are getting then no doubt they will make the price increase. the window is closing as we speak.

it is ture

And Indians. Don't forget the Indians. Imagine the price hike! Yipeee

I don't think they will have any reason to use Chinacoin over alternatives like bitcoin / litecoin that are already a lot more estabalished. However I do agree that once they see the benefits of cyrptocurrency there will be a large increase of people using it from that part of the world which is already partially shown in client downloads by region. 

The number of miners will drastically increase (and prolly the difficulty too)

Still waiting for BTC to increase since China hype...

Bitcoin will never be publicly adopted in China unless it's can be controlled by the Chinese government.

I saw a documentary on CCTV about bitcoin 2 or 3 days ago...

prepare yourself  ;D

nowok

just maybe .

For Chinese people, Bitcoin is more interesting than Chinacoin. They need/want access to worldwide currency.

t.

CNC is scam!

CNC has nothing special.

Network hash rate of CNC reduces from 6GH/s 10hours ago to 2Gh/s now. But i like the CNC transaction speed. Very fast, within seconds.

cnc now on btc-e. Its cool

Yeah China will definitely dominate the bitcoin markets!

More miners?

As far as I know most of the hardware to for mining comes from China, no?

Can it get to big without the government consent ? Wouldn't the government just block bitcoin exchange sites if it doesn't like what it sees?

really? i doubt

There is China coin.

Maybe

China loves bitcoin!

Its only a matter of time

just maybe