Capital controls in China. No effect on Bitcoin?

[tyz]

Unfortunately the site uses a paywall. Did not mean that 1 trillon $ left China through Bitcoin but 1 trillion left China in total and a part of it by using Bitcoin.

Chinese government is considering to extend the capital controls in order to stop the outflows and take away the pressure on the Yuan currency. Obviously, there has been left capital of around 1 trillion dollars within last year. Why does it not produce an sustainable effect on Bitcoin price?
http://www.ft.com/cms/s/0/5213ea3e-c35d-11e5-b3b1-7b2481276e45.html

because 1 trillion dollars (where did you get that number anyways i can read the article?) is not leaving the country through bitcoin and bitcoin mining. it is like comparing apples and oranges.

[1714183714]

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[mrhelpful]

China has been buying a lot of US property as a safety net against yuan for the last few years, maybe they are hodling the property?

The reason for china to do this is because they been owed for a long time lol.

They see other forms of collateral with aiding to the us deficit. Eventually wanting to replace the u.s dollar. There is a debate on this at zerohedge where they talk about wanting to become a global universal currency instead of the dollar.


http://www.zerohedge.com/news/2015-10-11/dollar-chinas-financial-war

[Zeke2345]

China has actually been buying up property all around the world to protect its self from being overexposed to the Yuan. Think they are well aware of how things can go sideways on them one of these days. If it does,I expect other currencies to fall as well.

[Hirose UK]

Chinese government is considering to extend the capital controls in order to stop the outflows and take away the pressure on the Yuan currency. Obviously, there has been left capital of around 1 trillion dollars within last year. Why does it not produce an sustainable effect on Bitcoin price?
http://www.ft.com/cms/s/0/5213ea3e-c35d-11e5-b3b1-7b2481276e45.html

I'm wondering.
perhaps China's control does not affect the world so much, or it's still trying, in a process of changing the capital.
don't know exactly, just see in a next couple years.

[tyz]

Chinese government is considering to extend the capital controls in order to stop the outflows and take away the pressure on the Yuan currency. Obviously, there has been left capital of around 1 trillion dollars within last year. Why does it not produce an sustainable effect on Bitcoin price?
http://www.ft.com/cms/s/0/5213ea3e-c35d-11e5-b3b1-7b2481276e45.html

I'm wondering.
perhaps China's control does not affect the world so much, or it's still trying, in a process of changing the capital.
don't know exactly, just see in a next couple years.

Years? This will be rather a question of months. Bitcoin price keeps very stable over the last weeks. It could be an positive impact but much more less then I thought.

[luciann]

Chinese government is considering to extend the capital controls in order to stop the outflows and take away the pressure on the Yuan currency. Obviously, there has been left capital of around 1 trillion dollars within last year. Why does it not produce an sustainable effect on Bitcoin price?
http://www.ft.com/cms/s/0/5213ea3e-c35d-11e5-b3b1-7b2481276e45.html

I'm wondering.
perhaps China's control does not affect the world so much, or it's still trying, in a process of changing the capital.
don't know exactly, just see in a next couple years.

They been trying to control over the us dollar, like someone mention above.

But like you also point out, china still doesnt have much power like we think buts its in the process with them which would take more time.

[Slowturtleinc]

As much as China would love to control everything they just do not have the power set up to push every one aside.

[DuckKeeper]

Chinese government is considering to extend the capital controls in order to stop the outflows and take away the pressure on the Yuan currency. Obviously, there has been left capital of around 1 trillion dollars within last year. Why does it not produce an sustainable effect on Bitcoin price?
http://www.ft.com/cms/s/0/5213ea3e-c35d-11e5-b3b1-7b2481276e45.html

The Chinees try and manipulate the Bitcoin and I do not know why there are doing this. I hope that nothing will change because of this, I am here to make money.

[tyz]

Why do Chinese manipulate Bitcoin price in your opinion? 
I think they do no manipulate it accidently, they just want to bring capital abroad and need a "tool" to avoid the capial controls. Bitcoin is such a tool. So it is no price manipulation by accident just a natural increase of demand.

Chinese government is considering to extend the capital controls in order to stop the outflows and take away the pressure on the Yuan currency. Obviously, there has been left capital of around 1 trillion dollars within last year. Why does it not produce an sustainable effect on Bitcoin price?
http://www.ft.com/cms/s/0/5213ea3e-c35d-11e5-b3b1-7b2481276e45.html

The Chinees try and manipulate the Bitcoin and I do not know why there are doing this. I hope that nothing will change because of this, I am here to make money.

[pereira4]

Bitcoin doesn't care about Capital controls, it just works, that's why millions and millions are being moved as we speak out of china, you can see it in fiatleak.com, the amount of BTC being bought from china increases every day for years now.

[Pab]

 Capital controls in China , Capital controls in USA,Russia,Europe,all govs are trying to control capital
effect on bitcoin,any,if you compere bitcoin market to fiat money market bitcoin is small,but now investors looks at bitcoin more like in the asset to invest

[HeroCat]

It will not affect BTC, because BTC market price depend from demand - buy/sell and market is worldwide, especially USA, therefore China can not make real effect on BTC price. 

[serjent05]

It will not affect BTC, because BTC market price depend from demand - buy/sell and market is worldwide, especially USA, therefore China can not make real effect on BTC price.  

IF Chinese demand on Bitcoin is permanently increasing day by day, then this will greatly affect BTC price, same goes if they abandoned that demand, the Bitcoin bubble will burst and BTC price will plummet.  Either way every single person generally have effect on price of Bitcoin, it might be a nano effect or a huge effect.  Remember price is driven by supply and demand so every buy and sell does have a real effect on BTC price.

[tyz]

Really?  Take a closer look at the volume of fiat currencies in Bitcoin trading from March 2016.
https://twitter.com/carsoncole/status/705493658309513216

Chinese Yuan beats US-Dollar and Euro by light years. This means most of the price increasing is because of Chinese trading. If they increase their trading volume than the Bitcoin price will heavily be affected.

It will not affect BTC, because BTC market price depend from demand - buy/sell and market is worldwide, especially USA, therefore China can not make real effect on BTC price. 

[Legasean]

Chinese government is considering to extend the capital controls in order to stop the outflows and take away the pressure on the Yuan currency. Obviously, there has been left capital of around 1 trillion dollars within last year. Why does it not produce an sustainable effect on Bitcoin price?
http://www.ft.com/cms/s/0/5213ea3e-c35d-11e5-b3b1-7b2481276e45.html

Spectators think this is the reason of the current rise. Which I doubt.
Every time the price goes up it's on weekends, where banks etc are closed. The price is being manipulated and it's not the chinese people buying in.

[vero]

Chinese government is considering to extend the capital controls in order to stop the outflows and take away the pressure on the Yuan currency. Obviously, there has been left capital of around 1 trillion dollars within last year. Why does it not produce an sustainable effect on Bitcoin price?
http://www.ft.com/cms/s/0/5213ea3e-c35d-11e5-b3b1-7b2481276e45.html

I think if the Chinese government took the decision to take the pressure on the yuan, it will have an impact on price increases due most of the holder of bitcoin is china of course they will secure their money so as not eroded by inflation by buying bitcoin.

[OROBTC]

...

Every report that I have read indicates that the Chinese are doing the bulk of BTC buying over the past 10 days or so.  There is an effort among some of the wealthy in China to get money out, without doubt some of that may be via BTC.  BTC allows easy "export" of capital, capital controls don't work w/ Bitcoin...

And there are a LOT of ways to get BTC out of China.  Hardware wallets (my favorite).  blockchain.info wallet & similar (only recommended for short-term use).  In a smartphone.  Or just direct transmission of BTC to a trusted one already outside China.

Easy peasy.

[noormcs5]

China has actually been buying up property all around the world to protect its self from being overexposed to the Yuan. Think they are well aware of how things can go sideways on them one of these days. If it does,I expect other currencies to fall as well.

Chinese people always think ahead of time and they know the potential and future of the bitcoins. See the timing of Chinese to invest in bitcoins just a month before halving, making halving too much profitable for Chinese miners as most of the coins are mined in china these days.

[SilverPunk]

China has actually been buying up property all around the world to protect its self from being overexposed to the Yuan. Think they are well aware of how things can go sideways on them one of these days. If it does,I expect other currencies to fall as well.

Chinese people always think ahead of time and they know the potential and future of the bitcoins. See the timing of Chinese to invest in bitcoins just a month before halving, making halving too much profitable for Chinese miners as most of the coins are mined in china these days.

Yes ,chinese is good when it terms of investments thats why even there is a huge number of population there they can still manipulate the richness of their country .they are ahead of technologies business and investing matters .so most of them holds a lot of bitcoins.

[Zivdafast]

China has actually been buying up property all around the world to protect its self from being overexposed to the Yuan. Think they are well aware of how things can go sideways on them one of these days. If it does,I expect other currencies to fall as well.

Chinese people always think ahead of time and they know the potential and future of the bitcoins. See the timing of Chinese to invest in bitcoins just a month before halving, making halving too much profitable for Chinese miners as most of the coins are mined in china these days.

So the Westerners should buy more bitcoin as it is the future of money and if you do not want to be a slave, you have hold bitcoin.