[2015-08-04] The Rise of Bitcoin Trading in China

[tyz]

Bitcoin trading has taken China, the world’s second largest economy, by storm as Goldman Sachs reported that 80% of the industry trading volumes are in renminbi. After all, an increasing share of the Chinese middle class is pursuing alternative investments, apart from property and equities.

http://coinyoo.com/2015/08/03/the-rise-of-bitcoin-trading-in-china/

[Kakmakr]

This is the true story behind this, " According to Bobby Lee, CEO of the world’s largest bitcoin exchange BTCChina, Chinese users who like to gamble enjoy the strong volatility in bitcoin prices. For many, buying low and selling high offers the opportunity to make quick profits. "

This is also why they love Bitcoin mining. Low input and high yield. Seeing that their electricity cost is so low and it gives them the advantage over the other mining operations. They will manipulate the price and cause high volatility and it will scare away merchants and companies, who wants less volatility.

All for a quick profit. ^hmf^

[Rimmer]

The Chinese know a good investment when they see one. I think so much volume going into China shows that they really see the potential. I just wonder when they'll start dumping to reap the rewards.

[randy8777]

The Chinese know a good investment when they see one. I think so much volume going into China shows that they really see the potential. I just wonder when they'll start dumping to reap the rewards.

most of the chinese investors are looking for quick profits. don't think their investments in bitcoin are any different as far as their short term minded investments goes. i really hope they see the real potential of bitcoin instead of only a way of making profits.