CNN: Money is flying out of China

[LiteCoinGuy]

Money is flying out of China

 On Monday, China's central bank reported $3.4 trillion in foreign exchange reserves, the lowest level since early 2013. November was one of the biggest drops ever.

Many investors are trying to get at least some of their money out of the country. Many Chinese see better opportunities abroad, whether it's real estate in New York or London, pricey art, or stocks and bonds in other countries.

http://money.cnn.com/2015/12/07/news/economy/china-foreign-exchange-reserves-shrinking/index.html

[Denker]

Yes this might be one of the reasons why chinese exchanges are running like hell since weeks.
Good for Bitcoin!The chinese aren't that dumb or naive as the greeks.
When shit hits the fence you have to be prepared!Or better to feather one's own nest!

[virtualx]

Yes this might be one of the reasons why chinese exchanges are running like hell since weeks.
Good for Bitcoin!The chinese aren't that dumb or naive as the greeks.
When shit hits the fence you have to be prepared!Or better to feather one's own nest!

This is probably the reason why we see the rise of bitcoin price. China is at it again 

[worhiper_-_]

Yes this might be one of the reasons why chinese exchanges are running like hell since weeks.
Good for Bitcoin!The chinese aren't that dumb or naive as the greeks.
When shit hits the fence you have to be prepared!Or better to feather one's own nest!

Greece is kind of a different case. The crisis had already hit when bitcoin came in. In China, there were many business uportunities that sparked the interest to begin adopting bitcoin. In Greece however, there are no interesting bitcoin startaps giving locals any more reason to use bitcoin instead of cash money electronic transfers. 

[Zaduca]

Yes this might be one of the reasons why chinese exchanges are running like hell since weeks.
Good for Bitcoin!The chinese aren't that dumb or naive as the greeks.
When shit hits the fence you have to be prepared!Or better to feather one's own nest!

The volume in Chinese exchange cannot be taken seriously. There are 0% fee there. So the volume is 100 times than it should be.

[LuckyYOU]

I'm not surprised, it's actually really smart of them to do. Instead of spending all the money when business is booming, they are making a back up.
Just in case something happens with their economy, they will still have a buffer to fall back on.

[calkob]

Thats probably why when you look at www.fiatleak.com all the bitcoin seems to be going to china, its crazy    but good for bitcoin.

[Pierre 2]

I personally guessed this. Well so americans may start selling low in somewhere to take profit and exit.
(Just like old jump)

[zodiac3011]

well right from the first pump, China is behind it because of their capital control law and this cause many consequences. And here we are with the price of bitcoin at 450

[richardsNY]

That might explain the huge volumes at OkCoin and Huobi. I only think the majority of the money that is flowing out of China is being invested ultimately in real estate, and stocks.

[Kprawn]

The biggest trading volume is not coming from China, Coinbase had 142,463 BTC traded today, and BtcChina only 97,865 bitcoins. { In the last 24 hours }

The capital controls cannot be the reason for this movement alone, there must be something bigger coming. The Chinese are smart people, and if they moving loads of bitcoins,

we should investigate a little further.  

[n2004al]

Money is flying out of China

 On Monday, China's central bank reported $3.4 trillion in foreign exchange reserves, the lowest level since early 2013. November was one of the biggest drops ever.

Many investors are trying to get at least some of their money out of the country. Many Chinese see better opportunities abroad, whether it's real estate in New York or London, pricey art, or stocks and bonds in other countries.

http://money.cnn.com/2015/12/07/news/economy/china-foreign-exchange-reserves-shrinking/index.html

I bet that most of the money out of China are going in the form of bitcoin. If are measured or known such transactions (or amounts) or not this is another thing. But all this monetary activity and all that existing demand in China for bitcoin cannot be not reflected in such kind of activity. Who know how many Chinese people will want to hide their money from the tax system or only to not be known by no one their savings or earned amounts of money.

[amacar2]

Chinese money is flying that's why we are getting chance to ride on bitcoin price. We may attain new ATH in next year and i strongly believe on it as this time rise in price has reason to justify, Chinese are buying.

[AtheistAKASaneBrain]

This is what happens when a goverment tries to control people's capital, in combination with the fact the paradigm has shifted since 2009 and now people can be able to move wealth from A to B no matter how far A from B is and no matter what regulations you would have needed with other non-Bitcoin mediums of wealth transfer. This is a revolution and most people still don't get it.

[countryfree]

This is normal. When you begin to have quite a lot of money, you start to think about how to diversify to protect your wealth. It's only logical, the same thing goes in any country, but it's quite new in China, since recently, it was very difficult to move any money out of China. It has become easier but obviously, the government doesn't like it, and it wants to make it difficult again.

[Financial_Genius]

How many people did suffer from their actions ?

[HarryKPeters]

One of the reasons the chinese governement is that it is being used to transfer money outside of china. It's much easier (noone can regulate it like the banks).
The Russians have/had the same motive. And to be honest I think they are too late. Bitcoin has grown too much...

[BTCBinary]

Many chinese try to take some savings out of the country in an attempt to flea or to protect agains government capital control. This is a reaction to the huge tax load and an attempt to preserve one's wealth from the government

[OROBTC]

This is normal. When you begin to have quite a lot of money, you start to think about how to diversify to protect your wealth. It's only logical, the same thing goes in any country, but it's quite new in China, since recently, it was very difficult to move any money out of China. It has become easier but obviously, the government doesn't like it, and it wants to make it difficult again.

That would be my take as well.  Were I a rich Chinese guy, I certainly would look for an alternative place/investment outside of China's .gov control...  And Bitcoin would likely be the easiest way of getting capital out.

What would be interesting to know is how much of the newly-mined BTC by the various big-time BTC miners is going too...

*   *   *

Any Chinese investors interested in a high-end oceanfront condo, I would welcome a PM.  Payment (in part) in BTC OK.  Gold or cash too.

[DimensionZ]

Yes this might be one of the reasons why chinese exchanges are running like hell since weeks.
Good for Bitcoin!The chinese aren't that dumb or naive as the greeks.
When shit hits the fence you have to be prepared!Or better to feather one's own nest!

This is probably the reason why we see the rise of bitcoin price. China is at it again 

Yeah I read an article about China's falling yuan being one of the reasons for increasing the price of bitcoins.