And you can transfer money directly from a Chinese bank in to Chinese exchanges.

https://www.btcc.com/news/article/btcc-now-accepting-direct-bank-deposits

BTCC Now Accepting Direct Bank Deposits
Nov 02, 2015

Recent bitcoin price increases have reignited enthusiasm in buying bitcoin. BTCC is confident this trend will continue. As such, we are pleased to announce that we now accept direct deposits.
 
Customers now need only log in, click on “Account,” then “Fund,” and then select the “Bank Deposit” option to fund their BTCC accounts through their bank accounts. All customers who have Chinese bank accounts will be able to make direct deposits through ATM transfers or online banking.
 
BTCC will stop accepting customer deposits through agents on November 15.

We need the block size to be at least 2 MB early next year when bitcoin becomes more popular.

There are many ways to implement larger block size. There should be active discussion in many places.

$1m/bitcoin will not happen any time soon. Maybe in 20 years time. At that time, bitcoin is in 20% of world population's pocket. You can use it to pay anything.

The price rise is quite mad at present. I begin to doubt the sustainability of this dramatic rise. What is behind this rise?

My original price target for end of 2015 was $300. Now it seems even $500 is possible. The price has risen fast.

The above number is possible. I would like a much slower and steadier rise.

$350 at end of November
$400 at end of December

There is very small possibility for bitcon to reach $600 and stay there for some time within 2 months. It might go to $600, but drop below it quickly.

bitcoin and fiat will coexist for very long time. The usage of bitcoin will be more and more and it will have higher proportion of usage gradually.

The price of bitcoin may go to $10,000 in 5-7 years. It will not be so high in the next three years. We need more adoption.

According to the announcement:

"There is a great deal of enthusiasm in the marketplace for crowdfunding, and I believe these rules and proposed amendments provide smaller companies with innovative ways to raise capital and give investors the protections they need,” said SEC Chair Mary Jo White. “With these rules, the Commission has completed all of the major rulemaking mandated under the JOBS Act.”

So the key is how to protect investors.

Bitcoin is still in very early stage. Not many people know about bitcoin. Image the price when 1% of world population start using bitcoin or other crypto currencies.