Chinese will take over the Bitcoin Market.

[SOSLOVE868]

I think there are needs of alternative currency to store value for Chinese central government as well as the 1.3 billion Chinese people.

Gold is a good option , but most of gold is store underneath in the USA and regulating by the Federal Government. they might worry about that price will manipulate by the Federal Government. As current news indicate that USA government refused to return back Gold to Germany because audit fraud. As the natural attribute of Gold, it is impossibly to cut apart into small amount for daily transaction.

Lets think about USD, Although Chinese Government hold massive amount of USD as its foreign exchange reserve, in fact , the value of those foreign exchange reserve had decrease caused by the increase value of YUAN. No matter what the reason cause this phenomenon, the consequence of this Chinese people needs another commodity or currency which will not affect by any government manipulate. Bitcoin  is still far distance to carry out this vision today , but remember there are 1.3 billion people seeking alternative things to store there wealth. even 1 million Chinese people had jumped into this market the price will be boost to significantly high.

 the poor performance of Chinese security stock will ultimately causing some of its investors lose faith and finding opportunity some where else.

 Although Bitcoin still not in mainstream, I think this question is only can be answer by time and if it succeed then it will change the way we understand of currency.

[sharperknife]

 Lets hope that the chinese do start to use bitcoin because then the value will skyrocket.

[luzhixianus]

it is NOT likely to happen in China.

[MartinReynolds]

If the Chinese do start using Bitcoin more then we can expect to see a huge price rise, which isn't that good for me as I don't really have many Bitcoins and have more Litecoins but maybe I will start buying more while the price is pretty low like it is at the moment.

Regards,

Martin.

[markyminer]

Lets hope that the chinese do start to use bitcoin because then the value will skyrocket.

Ooooo.............the chinese are coming................Ooooooo..............the ASICs are coming................Oooooo.............The ? are coming.

(insert the next thing to kill bitcoin mining)

M

[Kruncha]

Lets hope that the chinese do start to use bitcoin because then the value will skyrocket.

Ooooo.............the chinese are coming................Ooooooo..............the ASICs are coming................Oooooo.............The ? are coming.

(insert the next thing to kill bitcoin mining)

M

   Winter is coming...

K.

[hashfiend]

Yes, there are a lot of people in China but the average income is only a few hundred dollars a month.

[SOSLOVE868]

Yes, there are a lot of people in China but the average income is only a few hundred dollars a month.

Lets hope that the chinese do start to use bitcoin because then the value will skyrocket.

I think BTC is become more popular after the major media had report to it on Wednesday , more and more people will looking into it, Chinese people like new things and will take more risk ,because they natural are gamble. If you see the BTC price had increase those day after big crash on 1 of May. it might explaining that the report of BTC had made some effort.

[hashfiend]

I agree there will probably be some level of interest in China. How much impact that will have in the short term will depend on what sort of Chinese person takes an interest.

[BelMarduk]

There is China coin.

[Xanthon]

The chinese market is what I'm betting on.

[tholenst]

Just be alert! Nobody knows what changes bitcoin how.

[edgebits]

I agree with OP, China has been taking Americas money for a long time now. They are wealthy and numerous.

[jrpaz]

CHINA COIN FOR ALL

[BitshireHashaway]

And when the value skyrockets, some people will cash in before everyone figures out that the value has skyrocketed and its profitable to mine, and then everyone will start mining and the difficulty will skyrocket. Oh well:) I support Bitcoin as a currency and would like to see the Chinese adopting it.

[MartinReynolds]

I still fear it may be just a pump and dump, hopefully it starts to become widely used.

Regards,

Martin.

[SOSLOVE868]

I agree there will probably be some level of interest in China. How much impact that will have in the short term will depend on what sort of Chinese person takes an interest.

I think there are huge demand in China to transfer there money to abroad without regulator.

[pencileraser]

This reminds me of the online gambling world, where people spent years going "the Chinese are coming any day now and are going to make us all rich!". Since they're so far away and we don't really know what's going on so much there, it's easy to pin all our hopes on them.

[boor]

Don't think so.

[SOSLOVE868]

I still fear it may be just a pump and dump, hopefully it starts to become widely used.

Regards,

Martin.

if people jumping only for speculation, then Bitcoin will be die soon.....

I hope will have more people really understand to Bitcoin, and use it as a currency.