Why has bitcoin had success in China?

[BeGoods]

China as far as I know has the largest number of bitcoin mining centers in the world
No doubt, btc is successful in China

That ain't success. That's a few tens of guys minting money and not really caring about anything else.

If only some guys do mining and it is not more popular compared to other countreis then we cannot consider it as a success for China.

bitcoin will look successful when they have been adopted by various groups in that country? many merchants or store that accepts bitcoin as a payment and many transactions that occurred in the neighborhood.
if only people do mining and converts them into fiat. I probably would not say bitcoin success in that country?

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[Yakamoto]

China as far as I know has the largest number of bitcoin mining centers in the world
No doubt, btc is successful in China

That ain't success. That's a few tens of guys minting money and not really caring about anything else.

If only some guys do mining and it is not more popular compared to other countreis then we cannot consider it as a success for China.

bitcoin will look successful when they have been adopted by various groups in that country? many merchants or store that accepts bitcoin as a payment and many transactions that occurred in the neighborhood.
if only people do mining and converts them into fiat. I probably would not say bitcoin success in that country?

Bitcoin can also be successful in China because there are roughly 3x the amount of people there than there are in the United States, and this means there can be a 3x larger user base in China if the demographic proportions are the same.

[diodio5]

The government apparently is open to bitcoin so this lets it have a chance to succeed.

nope I think the government will never accept bitcoin or legalize bitcoin before bitcoin can be set and can follow the government regulations. it was a silly thing bitcoin is decentralization? people can not intervene in the use of bitcoin or perform additional rules on bitcoin. bitcoin is freedom so it will be difficult for bitcoin to enter into bitcoin

[Crazygreek]

The government apparently is open to bitcoin so this lets it have a chance to succeed.

nope I think the government will never accept bitcoin or legalize bitcoin before bitcoin can be set and can follow the government regulations. it was a silly thing bitcoin is decentralization? people can not intervene in the use of bitcoin or perform additional rules on bitcoin. bitcoin is freedom so it will be difficult for bitcoin to enter into bitcoin

I am agrre with you, goverment always doing only things only profitable for them. Anyway they will make desision not to legalize bitcoin and also they will try limit bitcoin users.

[geopolisch]

yes, its a great sucess in china

[BitHodler]

China as far as I know has the largest number of bitcoin mining centers in the world
No doubt, btc is successful in China

That ain't success. That's a few tens of guys minting money and not really caring about anything else.

If only some guys do mining and it is not more popular compared to other countreis then we cannot consider it as a success for China.

bitcoin will look successful when they have been adopted by various groups in that country? many merchants or store that accepts bitcoin as a payment and many transactions that occurred in the neighborhood.
if only people do mining and converts them into fiat. I probably would not say bitcoin success in that country?

Bitcoin can also be successful in China because there are roughly 3x the amount of people there than there are in the United States, and this means there can be a 3x larger user base in China if the demographic proportions are the same.

The problem with China is that you never know what kind of rules they will force their people to follow.

One day they may be somewhat free to use Bitcoin the way they want, and the other day the Chinese government will come up with policies to slow down Bitcoin usage as they see the popularity of Bitcoin is only increasing.

[wuvdoll]

The government apparently is open to bitcoin so this lets it have a chance to succeed.

nope I think the government will never accept bitcoin or legalize bitcoin before bitcoin can be set and can follow the government regulations. it was a silly thing bitcoin is decentralization? people can not intervene in the use of bitcoin or perform additional rules on bitcoin. bitcoin is freedom so it will be difficult for bitcoin to enter into bitcoin

Even if the government shows resistance against the Bitcoins, they will have to stop on people love for bitcoins.
In china bitcoin can be more popular because of more people are there and bitcoin is a people's currency.

[calkob]

Because the chinese people are very smart and can see the potential in bitcoin for the future and the problems with government control of fiat money.

[rababo]

I think that happens because there's lots of miners & local exchange, also many stores already accept Bitcoin in China.
Bitcoin is quite well adapt there.

[draceus]

The government apparently is open to bitcoin so this lets it have a chance to succeed.

nope I think the government will never accept bitcoin or legalize bitcoin before bitcoin can be set and can follow the government regulations. it was a silly thing bitcoin is decentralization? people can not intervene in the use of bitcoin or perform additional rules on bitcoin. bitcoin is freedom so it will be difficult for bitcoin to enter into bitcoin

I am agrre with you, goverment always doing only things only profitable for them. Anyway they will make desision not to legalize bitcoin and also they will try limit bitcoin users.

yeah I agree with you friend bitcoin is success in china because all government only need profit and bitcoin have many good service and for earn money way for people and all government want to provide good service for comfortable in public and after success bitcoin in china

[gilangIDR]

I think bitcoin is not only successful in the land of china. bitcoin success in various countries. I live in asia pacific and bitcoin very successful here. bitcoin outline can be successful because many are using it.

[haileysantos95]

I think bitcoin is not only successful in the land of china. bitcoin success in various countries. I live in asia pacific and bitcoin very successful here. bitcoin outline can be successful because many are using it.

Yes bitcoin is also successful in every country where there is a vast user of bitcoin but i think in china there is a vast majority of people living there that is using bitcoin because of the investment they have their.

[faridkifly]

because i think logically that every each country has its own way.
there is no way certain that in this way, BTC will be successful in a country. depending on the response of the people is also my opinion. 

[OROBTC]

...

BTCC Exchange (and miner) Bobby Lee has another take on why the Chinese government does not care if people buy Bitcoin and send them elsewhere ("capital flight"):

http://bitcoinx.io/news/articles/btcc-exchange-ceo-bobby-lee-shows-how-bitcoin-can-be-used-for-capital-flight/

I read elsewhere today (sorry, don't have the link) that China only cares about DOLLARS being exchanged into YUAN, so sending BTC out is apparently not a concern. 

[BTCBinary]

My guess is that as the Chinese government tries to impose capital control, Bitcoin becomes the perfect escape for many people. Besides, since there is a lot of Chinese online merchants bitcoin becomes the perfect tool for international transactions.

[Cyaren]

Because Chinese censorship is prompting Chinese citizens to use a currency that can get their wealth out of China. Usually you'd have to do so in illegal means which are difficult and risky, but with BTC it's quite easy, and it offers quite a bit of anonymity as well.

[Yakamoto]

My guess is that as the Chinese government tries to impose capital control, Bitcoin becomes the perfect escape for many people. Besides, since there is a lot of Chinese online merchants bitcoin becomes the perfect tool for international transactions.

There are likely a lot of people looking for tax havens and was to get their value into any facet they can in Asia in general, so your hypothesis is likely right.

I wouldn't say that a lot of Chinese merchants know or use Bitcoin yet, but they might in the future.

[Golftech]

My guess is that as the Chinese government tries to impose capital control, Bitcoin becomes the perfect escape for many people. Besides, since there is a lot of Chinese online merchants bitcoin becomes the perfect tool for international transactions.

There are likely a lot of people looking for tax havens and was to get their value into any facet they can in Asia in general, so your hypothesis is likely right.

I wouldn't say that a lot of Chinese merchants know or use Bitcoin yet, but they might in the future.

Most Chinese do not know about bitcoin and use it as a tool to evade capital control. The volume of transaction is too small.

[praprata]

China is already worked with online currencies in the past so it is easier for them to understand Bitcoin. This gives them a advantage because they have experienced it before.

[Doms]

Makes me wonder how China has not yet come up with its own BTC. With a population as big as theirs, the potential for a decentralized crypto currency is endless. And with the huge funds rich Chinese have at their disposal, their own BTC could even surpass the growth of the BTC that we have right now.