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Title: The China Hype Fades Away Post by: bootlace on May 09, 2013, 03:35:18 PM Hate to be the bearer of bad news as people tend to go spastic at the sight of any non-bullish news but seems like the whole China explosion people were expecting has fizzled out rather quietly:
Baidu searches for Bitcoin in Chinese: http://index.baidu.com/main/word.php?word=%B1%C8%CC%D8%B1%D2 Google searches for Bitcoin in Chinese: https://www.google.com/trends/explore#q=%E6%AF%94%E7%89%B9%E5%B8%81&date=today%201-m&cmpt=q Sourceforge downloads: http://sourceforge.net/projects/bitcoin/files/stats/timeline Title: Re: The China Hype Fades Away Post by: smoothie on May 09, 2013, 03:36:13 PM ...and it's gone? :'(
Title: Re: The China Hype Fades Away Post by: lysr on May 09, 2013, 03:42:42 PM China is the last ditch effort of Bulls in keeping the price up.
Title: Re: The China Hype Fades Away Post by: fitty on May 09, 2013, 03:42:45 PM Are you kidding?
It's been 6 days, everyone who downloaded the wallet, they probably still have another good 8 months until the blockchain finishes downloading. Hang in there, the China wave is coming, and it will be huge! https://i.imgur.com/dBlQK.gif Title: Re: The China Hype Fades Away Post by: thezerg on May 09, 2013, 03:59:28 PM China is coming... the quote below is what its like to really invest. Especially a year ago when (like China now) service was thinner.
tl;dr: It takes a month+ to do more then just stick your toe in. I also think that a lot of you old timers mis-estimate the time and effort it takes for a noobie to bootstrap. It goes something like this: 1. Read about it, overcome the negative stigma that comes with SR, gambling, etc. 2. Make a small investment using bitinstant (edit: or direct person 2 person, etc) 3. Learn a ton about the banking system, chargebacks, how FED creates $. 4. Ask all the noobie questions "why can't someone just [print more bitcoins, steal your wallet, turn off the network, make it illegal]". What's it backed by anyway? :-) 5. Read enough about it to stress about all the scammers hacked wallets and failed exchanges, etc. 6. Start the KYC process with an exchange that has about 5000 totally obscure and difficult to use ways to deposit money. 7. Tortuously move small chunks of fiat into the exchange 8. start buying 9. freak out about failed exchanges, possibility of USB stick failure, etc 10. start looking at paper/brain wallets 11. Get your head around the idea of actually holding your own money somewhere 12. Create isolated new install VM to make a paper wallet. You can't outsource this to some client-side web script (if you really want a secure wallet)! 13. TEST the paper wallet concept (requires an entire blockchain sync from scratch). 14. KYC finally comes through! 15. DAMMIT price has doubled :-) This was my path anyway... For HNWIs its got to happen with both them AND their advisor (who's gonna do all the work). So people who might have gotten interested in bitcoin during the Euro financial uncertainty may just now be starting to move from a few hundred BTC trial investment to an actual acquisition strategy. Title: Re: The China Hype Fades Away Post by: dancupid on May 09, 2013, 04:02:13 PM Hate to be the bearer of bad news as people tend to go spastic at the sight of any non-bullish news but seems like the whole China explosion people were expecting has fizzled out rather quietly: Baidu searches for Bitcoin in Chinese: http://index.baidu.com/main/word.php?word=%B1%C8%CC%D8%B1%D2 Google searches for Bitcoin in Chinese: https://www.google.com/trends/explore#q=%E6%AF%94%E7%89%B9%E5%B8%81&date=today%201-m&cmpt=q Sourceforge downloads: http://sourceforge.net/projects/bitcoin/files/stats/timeline Shit - I was pinning all my hopes and dreams on this. Title: Re: The China Hype Fades Away Post by: Cluster2k on May 09, 2013, 04:23:48 PM It's not necessarily a bad thing. The average Chinese speculator chases bubble like everyone else, but with special zeal and gusto. If they don't get rich quick on bitcoins they'll find something else to inflate.
Example. The garlic bubble of 2010: http://www.guardian.co.uk/world/2010/jul/30/garlic-chinese-commodity-bubble There were media reports from the time of speculators buying truckloads of garlic and hoarding them, hoping to get rich quick. The whole bubble popped of course and the speculators rightfully got burned. Title: Re: The China Hype Fades Away Post by: Rampion on May 09, 2013, 04:25:59 PM China is coming... the quote below is what its like to really invest. Especially a year ago when (like China now) service was thinner. tl;dr: It takes a month+ to do more then just stick your toe in. I also think that a lot of you old timers mis-estimate the time and effort it takes for a noobie to bootstrap. It goes something like this: 1. Read about it, overcome the negative stigma that comes with SR, gambling, etc. 2. Make a small investment using bitinstant (edit: or direct person 2 person, etc) 3. Learn a ton about the banking system, chargebacks, how FED creates $. 4. Ask all the noobie questions "why can't someone just [print more bitcoins, steal your wallet, turn off the network, make it illegal]". What's it backed by anyway? :-) 5. Read enough about it to stress about all the scammers hacked wallets and failed exchanges, etc. 6. Start the KYC process with an exchange that has about 5000 totally obscure and difficult to use ways to deposit money. 7. Tortuously move small chunks of fiat into the exchange 8. start buying 9. freak out about failed exchanges, possibility of USB stick failure, etc 10. start looking at paper/brain wallets 11. Get your head around the idea of actually holding your own money somewhere 12. Create isolated new install VM to make a paper wallet. You can't outsource this to some client-side web script (if you really want a secure wallet)! 13. TEST the paper wallet concept (requires an entire blockchain sync from scratch). 14. KYC finally comes through! 15. DAMMIT price has doubled :-) This was my path anyway... For HNWIs its got to happen with both them AND their advisor (who's gonna do all the work). So people who might have gotten interested in bitcoin during the Euro financial uncertainty may just now be starting to move from a few hundred BTC trial investment to an actual acquisition strategy. This is very accurate. Process is slow. Title: Re: The China Hype Fades Away Post by: Le Happy Merchant on May 09, 2013, 04:41:25 PM When I first heard about Bitcoin, I wanted in that day. It took me three months to do it right. Give them some time.
Title: Re: The China Hype Fades Away Post by: BitChick on May 09, 2013, 05:02:42 PM China is coming... the quote below is what its like to really invest. Especially a year ago when (like China now) service was thinner. tl;dr: It takes a month+ to do more then just stick your toe in. I also think that a lot of you old timers mis-estimate the time and effort it takes for a noobie to bootstrap. It goes something like this: 1. Read about it, overcome the negative stigma that comes with SR, gambling, etc. 2. Make a small investment using bitinstant (edit: or direct person 2 person, etc) 3. Learn a ton about the banking system, chargebacks, how FED creates $. 4. Ask all the noobie questions "why can't someone just [print more bitcoins, steal your wallet, turn off the network, make it illegal]". What's it backed by anyway? :-) 5. Read enough about it to stress about all the scammers hacked wallets and failed exchanges, etc. 6. Start the KYC process with an exchange that has about 5000 totally obscure and difficult to use ways to deposit money. 7. Tortuously move small chunks of fiat into the exchange 8. start buying 9. freak out about failed exchanges, possibility of USB stick failure, etc 10. start looking at paper/brain wallets 11. Get your head around the idea of actually holding your own money somewhere 12. Create isolated new install VM to make a paper wallet. You can't outsource this to some client-side web script (if you really want a secure wallet)! 13. TEST the paper wallet concept (requires an entire blockchain sync from scratch). 14. KYC finally comes through! 15. DAMMIT price has doubled :-) This was my path anyway... For HNWIs its got to happen with both them AND their advisor (who's gonna do all the work). So people who might have gotten interested in bitcoin during the Euro financial uncertainty may just now be starting to move from a few hundred BTC trial investment to an actual acquisition strategy. This is very accurate. Process is slow. YES! This is how it is! If someone can make an easier way for the average person to get into BTC there will be no stopping it. Sure there is a learning curve at the beginning, but once we choose to invest it still takes so long and is very frustrating. I have a friend that wanted to buy but never did because it was too complicated. She is very smart too and somewhat comfortable with technology, but just getting cash into BTC is not easy. I would probably have invested even more if it was easier to do so. Title: Re: The China Hype Fades Away Post by: bootlace on May 09, 2013, 05:06:55 PM China is coming... the quote below is what its like to really invest. Especially a year ago when (like China now) service was thinner. tl;dr: It takes a month+ to do more then just stick your toe in. I also think that a lot of you old timers mis-estimate the time and effort it takes for a noobie to bootstrap. It goes something like this: 1. Read about it, overcome the negative stigma that comes with SR, gambling, etc. 2. Make a small investment using bitinstant (edit: or direct person 2 person, etc) 3. Learn a ton about the banking system, chargebacks, how FED creates $. 4. Ask all the noobie questions "why can't someone just [print more bitcoins, steal your wallet, turn off the network, make it illegal]". What's it backed by anyway? :-) 5. Read enough about it to stress about all the scammers hacked wallets and failed exchanges, etc. 6. Start the KYC process with an exchange that has about 5000 totally obscure and difficult to use ways to deposit money. 7. Tortuously move small chunks of fiat into the exchange 8. start buying 9. freak out about failed exchanges, possibility of USB stick failure, etc 10. start looking at paper/brain wallets 11. Get your head around the idea of actually holding your own money somewhere 12. Create isolated new install VM to make a paper wallet. You can't outsource this to some client-side web script (if you really want a secure wallet)! 13. TEST the paper wallet concept (requires an entire blockchain sync from scratch). 14. KYC finally comes through! 15. DAMMIT price has doubled :-) This was my path anyway... For HNWIs its got to happen with both them AND their advisor (who's gonna do all the work). So people who might have gotten interested in bitcoin during the Euro financial uncertainty may just now be starting to move from a few hundred BTC trial investment to an actual acquisition strategy. Do you realize that the search metrics that I linked to apply directly to the first step of your list: "Read about it". For explosive growth to happen you need more and more people start your list/chain and that means the first step is key. The current trend suggests that there is as many people starting your investment chain as there was before the news = the short-term hype is past. Title: Re: The China Hype Fades Away Post by: superduh on May 09, 2013, 05:09:02 PM the graph is deceptive
here is the search but for year 2013 https://www.google.com/trends/explore#q=%E6%AF%94%E7%89%B9%E5%B8%81&date=1%2F2013%2012m&cmpt=q everything changes. Title: Re: The China Hype Fades Away Post by: jl2012 on May 09, 2013, 05:09:50 PM They will jump in as soon as the next bubble inflates. Only at that time you will see the huge momentum from China
Title: Re: The China Hype Fades Away Post by: cypherdoc on May 09, 2013, 05:12:52 PM China is coming... the quote below is what its like to really invest. Especially a year ago when (like China now) service was thinner. tl;dr: It takes a month+ to do more then just stick your toe in. I also think that a lot of you old timers mis-estimate the time and effort it takes for a noobie to bootstrap. It goes something like this: 1. Read about it, overcome the negative stigma that comes with SR, gambling, etc. 2. Make a small investment using bitinstant (edit: or direct person 2 person, etc) 3. Learn a ton about the banking system, chargebacks, how FED creates $. 4. Ask all the noobie questions "why can't someone just [print more bitcoins, steal your wallet, turn off the network, make it illegal]". What's it backed by anyway? :-) 5. Read enough about it to stress about all the scammers hacked wallets and failed exchanges, etc. 6. Start the KYC process with an exchange that has about 5000 totally obscure and difficult to use ways to deposit money. 7. Tortuously move small chunks of fiat into the exchange 8. start buying 9. freak out about failed exchanges, possibility of USB stick failure, etc 10. start looking at paper/brain wallets 11. Get your head around the idea of actually holding your own money somewhere 12. Create isolated new install VM to make a paper wallet. You can't outsource this to some client-side web script (if you really want a secure wallet)! 13. TEST the paper wallet concept (requires an entire blockchain sync from scratch). 14. KYC finally comes through! 15. DAMMIT price has doubled :-) This was my path anyway... For HNWIs its got to happen with both them AND their advisor (who's gonna do all the work). So people who might have gotten interested in bitcoin during the Euro financial uncertainty may just now be starting to move from a few hundred BTC trial investment to an actual acquisition strategy. this is very true. Title: Re: The China Hype Fades Away Post by: bootlace on May 09, 2013, 05:15:25 PM the graph is deceptive here is the search but for year 2013 https://www.google.com/trends/explore#q=%E6%AF%94%E7%89%B9%E5%B8%81&date=1%2F2013%2012m&cmpt=q everything changes. I think it is your graph that is deceptive because it totally hides the rise and fall relating to the time period we're referencing because of lack of space on the x-axis. Title: Re: The China Hype Fades Away Post by: smoothie on May 09, 2013, 05:17:19 PM I agree it is a matter of time.
Title: Re: The China Hype Fades Away Post by: jl2012 on May 09, 2013, 05:17:26 PM This is my thread in late Feb when the price was still below 30: https://bitcointalk.org/index.php?topic=146768.0
China will play a more important role, but not until the next bubble Title: Re: The China Hype Fades Away Post by: jl2012 on May 09, 2013, 05:18:55 PM the graph is deceptive here is the search but for year 2013 https://www.google.com/trends/explore#q=%E6%AF%94%E7%89%B9%E5%B8%81&date=1%2F2013%2012m&cmpt=q everything changes. Google is not a good indicator as it is blocked in China Title: Re: The China Hype Fades Away Post by: bootlace on May 09, 2013, 05:45:47 PM the graph is deceptive here is the search but for year 2013 https://www.google.com/trends/explore#q=%E6%AF%94%E7%89%B9%E5%B8%81&date=1%2F2013%2012m&cmpt=q everything changes. Google is not a good indicator as it is blocked in China Google is not blocked in China Title: Re: The China Hype Fades Away Post by: Zangelbert Bingledack on May 09, 2013, 05:55:48 PM I also think that a lot of you old timers mis-estimate the time and effort it takes for a noobie to bootstrap. It goes something like this: 1. Read about it, overcome the negative stigma that comes with SR, gambling, etc. 2. Make a small investment using bitinstant (edit: or direct person 2 person, etc) 3. Learn a ton about the banking system, chargebacks, how FED creates $. 4. Ask all the noobie questions "why can't someone just [print more bitcoins, steal your wallet, turn off the network, make it illegal]". What's it backed by anyway? :-) 5. Read enough about it to stress about all the scammers hacked wallets and failed exchanges, etc. 6. Start the KYC process with an exchange that has about 5000 totally obscure and difficult to use ways to deposit money. 7. Tortuously move small chunks of fiat into the exchange 8. start buying 9. freak out about failed exchanges, possibility of USB stick failure, etc 10. start looking at paper/brain wallets 11. Get your head around the idea of actually holding your own money somewhere 12. Create isolated new install VM to make a paper wallet. You can't outsource this to some client-side web script (if you really want a secure wallet)! 13. TEST the paper wallet concept (requires an entire blockchain sync from scratch). 14. KYC finally comes through! 15. DAMMIT price has doubled :-) This was my path anyway... For HNWIs its got to happen with both them AND their advisor (who's gonna do all the work). So people who might have gotten interested in bitcoin during the Euro financial uncertainty may just now be starting to move from a few hundred BTC trial investment to an actual acquisition strategy. This PLUS way less information available in Chinese, way fewer people to help you, etc. They are at a far less advanced stage ecosystem-wise, though they are getting the news hype a little so it's not exactly like a few years ago in the English-language space, but similar in that there are many hindrances to the casual entrant - even more than the already difficult process for an English speaker. Title: Re: The China Hype Fades Away Post by: ThatDGuy on May 09, 2013, 06:28:33 PM China is coming... the quote below is what its like to really invest. Especially a year ago when (like China now) service was thinner. tl;dr: It takes a month+ to do more then just stick your toe in. I also think that a lot of you old timers mis-estimate the time and effort it takes for a noobie to bootstrap. It goes something like this: 1. Read about it, overcome the negative stigma that comes with SR, gambling, etc. 2. Make a small investment using bitinstant (edit: or direct person 2 person, etc) 3. Learn a ton about the banking system, chargebacks, how FED creates $. 4. Ask all the noobie questions "why can't someone just [print more bitcoins, steal your wallet, turn off the network, make it illegal]". What's it backed by anyway? :-) 5. Read enough about it to stress about all the scammers hacked wallets and failed exchanges, etc. 6. Start the KYC process with an exchange that has about 5000 totally obscure and difficult to use ways to deposit money. 7. Tortuously move small chunks of fiat into the exchange 8. start buying 9. freak out about failed exchanges, possibility of USB stick failure, etc 10. start looking at paper/brain wallets 11. Get your head around the idea of actually holding your own money somewhere 12. Create isolated new install VM to make a paper wallet. You can't outsource this to some client-side web script (if you really want a secure wallet)! 13. TEST the paper wallet concept (requires an entire blockchain sync from scratch). 14. KYC finally comes through! 15. DAMMIT price has doubled :-) This was my path anyway... For HNWIs its got to happen with both them AND their advisor (who's gonna do all the work). So people who might have gotten interested in bitcoin during the Euro financial uncertainty may just now be starting to move from a few hundred BTC trial investment to an actual acquisition strategy. This is very accurate. Process is slow. YES! This is how it is! If someone can make an easier way for the average person to get into BTC there will be no stopping it. Sure there is a learning curve at the beginning, but once we choose to invest it still takes so long and is very frustrating. I have a friend that wanted to buy but never did because it was too complicated. She is very smart too and somewhat comfortable with technology, but just getting cash into BTC is not easy. I would probably have invested even more if it was easier to do so. It will certainly help, but honestly I don't think I would believe in Bitcoin and cryptocurrencies in general as much if I hadn't spent that much time wrapping my head around them. Short term, though,you're absolutely right: being able to get money in and out easier would (and will!) mean the future bubbles or hype cycles are potentially huge... Title: Re: The China Hype Fades Away Post by: dancupid on May 09, 2013, 06:33:26 PM the graph is deceptive here is the search but for year 2013 https://www.google.com/trends/explore#q=%E6%AF%94%E7%89%B9%E5%B8%81&date=1%2F2013%2012m&cmpt=q everything changes. Google is not a good indicator as it is blocked in China Google is not blocked in China Chinese people don't typically use Google though (I live in Shanghai) - Baidu is the search engine of choice. Though the Google trends stats is obviously still a good indicator Title: Re: The China Hype Fades Away Post by: RationalSpeculator on May 09, 2013, 06:35:27 PM It's not necessarily a bad thing. The average Chinese speculator chases bubble like everyone else, but with special zeal and gusto. If they don't get rich quick on bitcoins they'll find something else to inflate. Example. The garlic bubble of 2010: http://www.guardian.co.uk/world/2010/jul/30/garlic-chinese-commodity-bubble There were media reports from the time of speculators buying truckloads of garlic and hoarding them, hoping to get rich quick. The whole bubble popped of course and the speculators rightfully got burned. That's fun ;D I didn't know that happened. Some of the Chinese aren't much wiser than 17th century dutch people. Thanks for sharing. Makes me think of Hugh Hendry too: 'thou shalt not invest in overcapacity!' Title: Re: The China Hype Fades Away Post by: bootlace on May 09, 2013, 07:21:06 PM the graph is deceptive here is the search but for year 2013 https://www.google.com/trends/explore#q=%E6%AF%94%E7%89%B9%E5%B8%81&date=1%2F2013%2012m&cmpt=q everything changes. Google is not a good indicator as it is blocked in China Google is not blocked in China Chinese people don't typically use Google though (I live in Shanghai) - Baidu is the search engine of choice. Though the Google trends stats is obviously still a good indicator You're right about Google not being popular over there, lived in Shanghai 5 years myself. Title: Re: The China Hype Fades Away Post by: oda.krell on May 09, 2013, 10:18:49 PM Are you kidding? It's been 6 days, everyone who downloaded the wallet, they probably still have another good 8 months until the blockchain finishes downloading. Hang in there, the China wave is coming, and it will be huge! https://i.imgur.com/dBlQK.gif This... this is hypnotic. I've been watching it now for 5 about minutes straight. In not entirely unrelated news, I have the weirdest boner right now. Title: Re: The China Hype Fades Away Post by: Rampion on May 09, 2013, 10:31:23 PM China is coming... the quote below is what its like to really invest. Especially a year ago when (like China now) service was thinner. tl;dr: It takes a month+ to do more then just stick your toe in. I also think that a lot of you old timers mis-estimate the time and effort it takes for a noobie to bootstrap. It goes something like this: 1. Read about it, overcome the negative stigma that comes with SR, gambling, etc. 2. Make a small investment using bitinstant (edit: or direct person 2 person, etc) 3. Learn a ton about the banking system, chargebacks, how FED creates $. 4. Ask all the noobie questions "why can't someone just [print more bitcoins, steal your wallet, turn off the network, make it illegal]". What's it backed by anyway? :-) 5. Read enough about it to stress about all the scammers hacked wallets and failed exchanges, etc. 6. Start the KYC process with an exchange that has about 5000 totally obscure and difficult to use ways to deposit money. 7. Tortuously move small chunks of fiat into the exchange 8. start buying 9. freak out about failed exchanges, possibility of USB stick failure, etc 10. start looking at paper/brain wallets 11. Get your head around the idea of actually holding your own money somewhere 12. Create isolated new install VM to make a paper wallet. You can't outsource this to some client-side web script (if you really want a secure wallet)! 13. TEST the paper wallet concept (requires an entire blockchain sync from scratch). 14. KYC finally comes through! 15. DAMMIT price has doubled :-) This was my path anyway... For HNWIs its got to happen with both them AND their advisor (who's gonna do all the work). So people who might have gotten interested in bitcoin during the Euro financial uncertainty may just now be starting to move from a few hundred BTC trial investment to an actual acquisition strategy. This is very accurate. Process is slow. YES! This is how it is! If someone can make an easier way for the average person to get into BTC there will be no stopping it. Sure there is a learning curve at the beginning, but once we choose to invest it still takes so long and is very frustrating. I have a friend that wanted to buy but never did because it was too complicated. She is very smart too and somewhat comfortable with technology, but just getting cash into BTC is not easy. I would probably have invested even more if it was easier to do so. It will certainly help, but honestly I don't think I would believe in Bitcoin and cryptocurrencies in general as much if I hadn't spent that much time wrapping my head around them. Short term, though,you're absolutely right: being able to get money in and out easier would (and will!) mean the future bubbles or hype cycles are potentially huge... Both points are entirely correct. I guess that everybody with a few Bitcoins, even if they where bought in the middle of the bubble, a verified account and some fiat in an exchange can rightfully call himself an "early adopter" ;D Title: Re: The China Hype Fades Away Post by: gogxmagog on May 10, 2013, 01:01:30 AM The feeling I get is more Chinese will mine BTC rather than purchase it outright. esp at these current prices. so, most likely lots more BTC going into circulation. we will have to see, wont we.
Title: Re: The China Hype Fades Away Post by: bitcon on May 10, 2013, 01:58:02 AM Are you kidding? It's been 6 days, everyone who downloaded the wallet, they probably still have another good 8 months until the blockchain finishes downloading. Hang in there, the China wave is coming, and it will be huge! https://i.imgur.com/dBlQK.gif This... this is hypnotic. I've been watching it now for 5 about minutes straight. In not entirely unrelated news, I have the weirdest boner right now. boners on the rise, BTCh falling.... Title: Re: The China Hype Fades Away Post by: cbeast on May 10, 2013, 02:26:23 AM China has more Bitcoin mining going on than any other country. Looks pretty popular to me.
http://blockchain.info/nodes-globe (http://blockchain.info/nodes-globe) Title: The China Hype Fades Away For OP Post by: randrace on May 10, 2013, 02:42:07 AM Speak for yourself, I am still pumped.
Title: Re: The China Hype Fades Away Post by: Zaih on May 10, 2013, 03:14:40 AM Obviously nothing amazing was going to come of it instantly. Give it some time fella's.
Title: Re: The China Hype Fades Away Post by: Crazy on May 10, 2013, 06:28:01 AM ITT everyone acts like thousands of people weren't just burned by a massive bubble that still hasn't fully corrected, and the "new" Asian investors aren't able to see this and act with extreme caution (or take no action at all).
Title: Re: The China Hype Fades Away Post by: Zaih on May 10, 2013, 06:32:01 AM ITT everyone acts like thousands of people weren't just burned by a massive bubble that still hasn't fully corrected, and the "new" Asian investors aren't able to see this and act with extreme caution (or take no action at all). ITT: People trying to manipulate price* Title: Re: The China Hype Fades Away Post by: Crazy on May 10, 2013, 06:33:10 AM That too :D
Title: #1 China Hype Gripe!!! Post by: randrace on May 10, 2013, 06:44:02 AM Congrats! This thread has now surpassed Please stop with the China hype (https://bitcointalk.org/index.php?topic=200563.0) in page views, making it the second most viewed thread with the words China and Hype in the title! Look out, For those who still doubt China is a hype (https://bitcointalk.org/index.php?topic=196572.0), your days are numbered!!!
Title: Re: The China Hype Fades Away Post by: lophie on May 10, 2013, 07:05:20 AM Are you kidding? It's been 6 days, everyone who downloaded the wallet, they probably still have another good 8 months until the blockchain finishes downloading. Hang in there, the China wave is coming, and it will be huge! https://i.imgur.com/dBlQK.gif This... this is hypnotic. I've been watching it now for 5 about minutes straight. In not entirely unrelated news, I have the weirdest boner right now. I know right!!! This chick is so hot I almost put a sell order instead of a buy order! Title: Re: The China Hype Fades Away Post by: lysr on May 10, 2013, 08:49:34 AM ITT everyone acts like thousands of people weren't just burned by a massive bubble that still hasn't fully corrected, and the "new" Asian investors aren't able to see this and act with extreme caution (or take no action at all). +1Title: Re: The China Hype Fades Away Post by: BitPirate on May 10, 2013, 09:00:40 AM China hype fades away... maybe... Price looks fine though.
About 3 new China BTC exchanges have been launched in the past week. Should give you some idea of the interest. And the best one is yet to launch ;-) Link is probably being announced tomorrow -- PM me if you want a preview. Title: Re: The China Hype Fades Away Post by: viboracecata on May 10, 2013, 09:11:16 AM Do you guys know how Chinese fought for the gold price downturn? Especially many many grandpas and grandmas...
If we can teach them bitcoins are better than gold, then you will laugh to wake. Title: Re: The China Hype Fades Away Post by: lysr on May 10, 2013, 09:19:30 AM Do you guys know how Chinese fought for the gold price downturn? Especially many many grandpas and grandmas... Good luck with teaching the grandpas and grandmas what Bitcoin is, helping them with the hassle of downloading a 10gb blockchain and persuading them to buy something that does not really exist. The Chinese people in the last generation are very conservative and undereducated, they still believe in the lies from the CCP and chairman Mao, do you really expect them to buy a Bitcoin? Yes, but only when the CCP or chairman Mao asks them.If we can teach them bitcoins are better than gold, then you will laugh to wake. Title: Re: The China Hype Fades Away Post by: BitPirate on May 10, 2013, 09:25:33 AM Do you guys know how Chinese fought for the gold price downturn? Especially many many grandpas and grandmas... Good luck with teaching the grandpas and grandmas what Bitcoin is, helping them with the hassle of downloading a 10gb blockchain and persuading them to buy something that does not really exist. The Chinese people in the last generation are very conservative and undereducated, they still believe in the lies from the CCP and chairman Mao, do you really expect them to buy a Bitcoin? Yes, but only when the CCP or chairman Mao asks them.If we can teach them bitcoins are better than gold, then you will laugh to wake. First of all -- they do not need to download any blockchain. Second of all -- trading in China is surprisingly easy, with numerous instantaneous fiat transfer methods that are better than wire transfer. Thirdly -- these very same "uneducated grandmas and grandpas" right now spend their days in front of computer screens trading high-risk stocks. Seriously, a huge proportion of them are in on the trading game, purely for speculation -- far more than the west. Finally -- they generally love a good gamble. Don't get me wrong -- I don't think there is any effect on the price from China, I believe it is largely made up hyperbole. But don't misrepresent China. Title: Re: The China Hype Fades Away Post by: ronaldlee0917 on May 10, 2013, 09:48:36 AM it is still showing 20+k of search queries per day = 600k per month. A quick check on adwords told me that the GLOBAL MONTHLY search for the keyword "Bitcoin" is just above a million.
Title: Re: The China Hype Fades Away Post by: lysr on May 10, 2013, 03:13:45 PM Do you guys know how Chinese fought for the gold price downturn? Especially many many grandpas and grandmas... Good luck with teaching the grandpas and grandmas what Bitcoin is, helping them with the hassle of downloading a 10gb blockchain and persuading them to buy something that does not really exist. The Chinese people in the last generation are very conservative and undereducated, they still believe in the lies from the CCP and chairman Mao, do you really expect them to buy a Bitcoin? Yes, but only when the CCP or chairman Mao asks them.If we can teach them bitcoins are better than gold, then you will laugh to wake. First of all -- they do not need to download any blockchain. Second of all -- trading in China is surprisingly easy, with numerous instantaneous fiat transfer methods that are better than wire transfer. Thirdly -- these very same "uneducated grandmas and grandpas" right now spend their days in front of computer screens trading high-risk stocks. Seriously, a huge proportion of them are in on the trading game, purely for speculation -- far more than the west. Finally -- they generally love a good gamble. Don't get me wrong -- I don't think there is any effect on the price from China, I believe it is largely made up hyperbole. But don't misrepresent China. Trading in China is as easy as their government banning bitcoin. There are dividend payouts investing in stocks, stock market is not a zero-sum game, everyone could benefit. Bitcoin is a negative sum game(deducting the commission fee) which should be a lot more risky, it is basically a gamble as you mentioned. Don't get me wrong -- I don't think there shouldn't be any effect on the price, people being stupid would buy the hype and push up the price 8) Title: The China Hype Thread Hype Going Strong Post by: randrace on May 10, 2013, 11:32:33 PM http://static4.fjcdn.com/comments/Well+we+don+t+even+go+by+a+bump+system+on+_eac8fc374425a31bff76f67582ec4be9.png
Because I hate to see the othe China Hype Threads getting all the love. |
