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Author Topic: [2015-08-23] Chinese Investors See Bitcoin As A Yuan Alternative  (Read 448 times)
upsidedown75
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August 23, 2015, 10:35:40 AM
 #1

Chinese Investors See Bitcoin As A Yuan Alternative

The relationship between Bitcoin and China has a coloured past, to say the least.  The People’s Bank of China has ordered third-party payment processors to stay away from Bitcoin companies; whilst China still remains the world’s largest trading market for the virtual currency.

http://digitalmoneytimes.com/crypto-news/chinese-investors-see-bitcoin-yuan-alternative/
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RustyNomad
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August 23, 2015, 10:54:47 AM
 #2

I've always been a firm believer in the fact that the failure of fiat currencies will be the biggest driving force behind mass bitcoin adoption. The 'mind shift' they are speaking about will become more prevalent over the next 5 to 10 years as more and more countries enter the 'currency wars' as they devalue their currencies in order to try and stimulate growth in their economies.

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One of the things that is taking place in China right now is a mind shift, in which people start to see Bitcoin as a viable alternative for the Chinese Yuan.  Many businesses are investing a portion of their holdings in Bitcoin to diversify their portfolio, as well as having an option to avoid financial uncertainty in the country.
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August 23, 2015, 11:27:00 AM
 #3

Cheers for posting the link, saves me some trouble Smiley

The mind shift is definitely happening, willing or not Smiley
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August 23, 2015, 01:25:19 PM
 #4

China is a great market, they'd just need the government to loosen the grip and allow the people to do as they please with their money. A Chinese market open to Bitcoin would create an enormous boom.

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August 23, 2015, 01:51:36 PM
 #5

Devaluation of Yuan.... Capital controls.
Bitcoin has some natural advantages in China.


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