Chinese factors behind the 14 billion marketcap of Bitcoin

[bryant.coleman]

Apparently the general public still hates bitcoin.

I don't think that is the case. A large majority of the general public has never heard about the Bitcoin. Even among those who have heard about the coins, the opinion is mixed. Some people hate it, as Bitcoins are frequently used for ransomware payments and darkmarket purchases. But some others like it, for advantages such as protection against inflation, and anonymity.

[shecarlin]

The $14 billion marketcap of Bitcoin is a good story for mainstream media. And the Chinese media did release stories as expected. But is the market really driven by Chinese capital market demand or it is just another bubble? You will see the real driving force at the end of this story.

http://news.8btc.com/chinese-factors-behind-the-14-billion-marketcap-of-bitcoin

I think BTC value is real not bubble once traditional currency is reducing value itself due to inflation or weak internal economy.
so to prevent currency reduction, They must keep Bitcoins  now.

[hl5460]

The $14 billion marketcap of Bitcoin is a good story for mainstream media. And the Chinese media did release stories as expected. But is the market really driven by Chinese capital market demand or it is just another bubble? You will see the real driving force at the end of this story.

http://news.8btc.com/chinese-factors-behind-the-14-billion-marketcap-of-bitcoin

I think BTC value is real not bubble once traditional currency is reducing value itself due to inflation or weak internal economy.
so to prevent currency reduction, They must keep Bitcoins  now.

That's what a economy man would do in his best judgement.

[jondeen707]

Apparently the general public still hates bitcoin.

I don't think that is the case. A large majority of the general public has never heard about the Bitcoin. Even among those who have heard about the coins, the opinion is mixed. Some people hate it, as Bitcoins are frequently used for ransomware payments and darkmarket purchases. But some others like it, for advantages such as protection against inflation, and anonymity.

Good point. I don't think this is what's happening either. Most of the general public are still in the dark on Bitcoin. It's that like with all things digital catchy headlines about cases of illegal use of bitcoins draw more attention and tend to stick to their minds for a long time.

[jondeen707]

So price is going up because ppl that are organizing pyramid schemes are using it? Cmon now...how large should those be to be main driving force?

I find that hard to believe either. Yet bitcoin's liquidity is inherently low, so any major spike in demand may cause a rally like this. According to bitcoin market analysts, it would take a one-time purchase of just $1M to $1.5M to move the price.

[Kolder]

So price is going up because ppl that are organizing pyramid schemes are using it? Cmon now...how large should those be to be main driving force?

I find that hard to believe either. Yet bitcoin's liquidity is inherently low, so any major spike in demand may cause a rally like this. According to bitcoin market analysts, it would take a one-time purchase of just $1M to $1.5M to move the price.

It is true because bitcoin price is volatile. Just like what happening to the price right now. It keeps pump/dump. 1m$ bulk purchase of btc is really happening right now. Just watch the trading history on polo

[upsidedown75]

Apparently the general public still hates bitcoin.

I don't think that is the case. A large majority of the general public has never heard about the Bitcoin. Even among those who have heard about the coins, the opinion is mixed. Some people hate it, as Bitcoins are frequently used for ransomware payments and darkmarket purchases. But some others like it, for advantages such as protection against inflation, and anonymity.

Who is general public ? Obviously we are. But we are all love it.
This 14 billion cap is not built by dev alone so that we can say public is not contributing in this. Even 90% of people are not aware of bitcoin yet, bitcoin's growth is already in rapid pace. So, when it goes down to 50% we may not just imagine the market cap.

[ether19]

Chinese are playing a key role in keeping bitcoin at high price. They account a large volume in trading as well as mining bitcoin. No doubts about that. I think in 20 years you will see Indians coming up to the same level as Chinese. I am saying this because India is 20 years behind Chinese and bitcoin is gaining traction slowly in India.

[Insticator]

Apparently the general public still hates bitcoin.

I don't think that is the case. A large majority of the general public has never heard about the Bitcoin. Even among those who have heard about the coins, the opinion is mixed. Some people hate it, as Bitcoins are frequently used for ransomware payments and darkmarket purchases. But some others like it, for advantages such as protection against inflation, and anonymity.

That is right. When I told my friends about the bitcoin, they think it is a Ponzi.

[virasog]

Apparently the general public still hates bitcoin.

I don't think that is the case. A large majority of the general public has never heard about the Bitcoin. Even among those who have heard about the coins, the opinion is mixed. Some people hate it, as Bitcoins are frequently used for ransomware payments and darkmarket purchases. But some others like it, for advantages such as protection against inflation, and anonymity.

Who is general public ? Obviously we are. But we are all love it.
This 14 billion cap is not built by dev alone so that we can say public is not contributing in this. Even 90% of people are not aware of bitcoin yet, bitcoin's growth is already in rapid pace. So, when it goes down to 50% we may not just imagine the market cap.

I think that is not right. General people who are brain washed by banking institutions dislike bitcoin. But this is changing when more and more people realize the power, freedom and advantage bitcoin offers.

[Genamant]

Apparently the general public still hates bitcoin.

I don't think that is the case. A large majority of the general public has never heard about the Bitcoin. Even among those who have heard about the coins, the opinion is mixed. Some people hate it, as Bitcoins are frequently used for ransomware payments and darkmarket purchases. But some others like it, for advantages such as protection against inflation, and anonymity.

Who is general public ? Obviously we are. But we are all love it.
This 14 billion cap is not built by dev alone so that we can say public is not contributing in this. Even 90% of people are not aware of bitcoin yet, bitcoin's growth is already in rapid pace. So, when it goes down to 50% we may not just imagine the market cap.

I think that is not right. General people who are brain washed by banking institutions dislike bitcoin. But this is changing when more and more people realize the power, freedom and advantage bitcoin offers.

The change is slow, but it is changing.

[Oralmat]

Apparently the general public still hates bitcoin.

I don't think that is the case. A large majority of the general public has never heard about the Bitcoin. Even among those who have heard about the coins, the opinion is mixed. Some people hate it, as Bitcoins are frequently used for ransomware payments and darkmarket purchases. But some others like it, for advantages such as protection against inflation, and anonymity.

Who is general public ? Obviously we are. But we are all love it.
This 14 billion cap is not built by dev alone so that we can say public is not contributing in this. Even 90% of people are not aware of bitcoin yet, bitcoin's growth is already in rapid pace. So, when it goes down to 50% we may not just imagine the market cap.

I think that is not right. General people who are brain washed by banking institutions dislike bitcoin. But this is changing when more and more people realize the power, freedom and advantage bitcoin offers.

Yes, bitcoin is widely used by hackers and malware developers, but that is not the fault of bitcoin. Fiat cash is used for drugs, crime, terrorism and bad things, I can't find anyone blaming fiat cash as the reason for it!

[Genamant]

Apparently the general public still hates bitcoin.

I don't think that is the case. A large majority of the general public has never heard about the Bitcoin. Even among those who have heard about the coins, the opinion is mixed. Some people hate it, as Bitcoins are frequently used for ransomware payments and darkmarket purchases. But some others like it, for advantages such as protection against inflation, and anonymity.

Who is general public ? Obviously we are. But we are all love it.
This 14 billion cap is not built by dev alone so that we can say public is not contributing in this. Even 90% of people are not aware of bitcoin yet, bitcoin's growth is already in rapid pace. So, when it goes down to 50% we may not just imagine the market cap.

I think that is not right. General people who are brain washed by banking institutions dislike bitcoin. But this is changing when more and more people realize the power, freedom and advantage bitcoin offers.

Yes, bitcoin is widely used by hackers and malware developers, but that is not the fault of bitcoin. Fiat cash is used for drugs, crime, terrorism and bad things, I can't find anyone blaming fiat cash as the reason for it!

That is right. Cash is the king for drug dealing.

[Insticator]

Chinese are playing a key role in keeping bitcoin at high price. They account a large volume in trading as well as mining bitcoin. No doubts about that. I think in 20 years you will see Indians coming up to the same level as Chinese. I am saying this because India is 20 years behind Chinese and bitcoin is gaining traction slowly in India.

That could be true at the time. But the influence has reduced a lot recently.