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Author Topic: Please stop with the China hype  (Read 2904 times)
bornloser
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May 09, 2013, 11:58:49 PM
 #1

I see all the posts about people in China lining up to buy bitcoins and they are going to cause a huge rise in the price. Why does everyone think that China is NOW finally getting involved with bitcoins? With China's technology and cutting edge technologies, WE(everyone other than China) could have been the ones that drove the price up for THEM?  They dont live in the stone age anymore.
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May 10, 2013, 12:29:29 AM
 #2

Jrock
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May 10, 2013, 12:37:35 AM
 #3

Just a bunch of people gripping to their last hopes of another huge really/bubble in the short term.

When that hope runs out we go down even more.

Can't wait!

julz
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May 10, 2013, 01:08:38 AM
 #4

"Why does everyone think that China is NOW finally getting involved with bitcoins? "

Probably because anyone following the global node map here: http://blockchain.info/nodes-globe?series=48hrs
will have noticed a massive uptick in Chinese nodes in the past weeks - and a huge difference in nodes compared to a year ago.

Up until recently, China looked very weak in terms of the number of full bitcoin nodes compared to Europe and the US.

That said - I've also seen a big drop in Chinese nodes a week or so after the CCTV story aired - so much of it is possibly just casual interest/experimentation which won't translate into buying.


I wish someone had a time-series of that globe so you could see the changes - but it wasn't so long ago that China looked more like India does now on that map.
I know this map only shows a small fraction of the people who hold Bitcoin wallets - but it should give at least a reasonable representation of relative interest in different countries.

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bitcon
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May 10, 2013, 01:50:34 AM
 #5

unfortunately the average chinese annual family income is $25/ year. so each of them were only able to invest about 10 cents.


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Zaih
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May 10, 2013, 03:31:07 AM
 #6

Irregardless, it's good news for Bitcoin. it means its spreading. Another few million people now know about Bitcoin, and from that people will tell their friends & family.

It's just great to see the news spreading, and as a result people have seen further potential in Bitcoin, and the price has been driven up.

regardless of how many Bitcoin's the Chinese purchase, I don't see how this is anything but great news. People just want the prices to go down so they can re buy in...

bornloser
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May 10, 2013, 09:33:13 AM
 #7

Irregardless, it's good news for Bitcoin. it means its spreading. Another few million people now know about Bitcoin, and from that people will tell their friends & family.

It's just great to see the news spreading, and as a result people have seen further potential in Bitcoin, and the price has been driven up.

regardless of how many Bitcoin's the Chinese purchase, I don't see how this is anything but great news. People just want the prices to go down so they can re buy in...



have another drink of kool aid.
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May 10, 2013, 09:36:29 AM
 #8

Why does everyone think that China is NOW finally getting involved with bitcoins?

Compare this year with last year on China's largest exchange...

http://bitcoincharts.com/charts/btcnCNY#igWeeklyztgSzm1g10zm2g25zvzcv


...and look at Google search for China.

https://www.google.com/trends/explore#q=%E6%AF%94%E7%89%B9%E5%B8%81&date=today%2012-m&cmpt=q
ronaldlee0917
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May 10, 2013, 09:45:27 AM
 #9

It is not a hype so it is not going to be stopped

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naphto
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May 10, 2013, 09:50:30 AM
 #10

China already owns 99 % of the bitcoins in the world. They made the first bubble Tongue
lysr
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May 10, 2013, 10:14:06 AM
 #11

Buying in anticipation for something that might or might not happen in the next few years is total speculation, first Cyprus, then Spain, Argentina, Italy and then China. Well, we are in a speculation forum afterall, so I am not surprised people falling to these traps again and again while the people who made up these hypes run away with their money.
ManBearPig
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May 10, 2013, 10:17:35 AM
 #12

Did someone just say irregardless? My brain hurts now.

I tweet crypto nonsense: https://twitter.com/DunningKruger_
Kupsi
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May 10, 2013, 10:35:54 AM
 #13

Buying in anticipation for something that might or might not happen in the next few years is total speculation, first Cyprus, then Spain, Argentina, Italy and then China. Well, we are in a speculation forum afterall, so I am not surprised people falling to these traps again and again while the people who made up these hypes run away with their money.

Where have people on this forum speculated that Cyprus, Spain, Argentina and Italy will start to buy a lot of bitcoins? Media have speculated about it, but with China it's different.
HappyBitCoinUser
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May 10, 2013, 12:54:22 PM
 #14

Bitcoin是我們希望我們所有的錢投資到未來和N。
lysr
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May 10, 2013, 03:01:39 PM
 #15

Buying in anticipation for something that might or might not happen in the next few years is total speculation, first Cyprus, then Spain, Argentina, Italy and then China. Well, we are in a speculation forum afterall, so I am not surprised people falling to these traps again and again while the people who made up these hypes run away with their money.

Where have people on this forum speculated that Cyprus, Spain, Argentina and Italy will start to buy a lot of bitcoins? Media have speculated about it, but with China it's different.
everywhere
Kupsi
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May 10, 2013, 03:25:17 PM
 #16

Buying in anticipation for something that might or might not happen in the next few years is total speculation, first Cyprus, then Spain, Argentina, Italy and then China. Well, we are in a speculation forum afterall, so I am not surprised people falling to these traps again and again while the people who made up these hypes run away with their money.

Where have people on this forum speculated that Cyprus, Spain, Argentina and Italy will start to buy a lot of bitcoins? Media have speculated about it, but with China it's different.
everywhere

I must be blind then...
Tirapon
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May 10, 2013, 09:59:28 PM
 #17

Did someone just say irregardless? My brain hurts now.

Yes, and they also used the word 'regardless' in the same post...
ElectricMucus
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May 10, 2013, 10:39:13 PM
 #18

Did anybody say China yet?
fitty
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May 10, 2013, 10:51:15 PM
 #19

Did someone just say irregardless? My brain hurts now.

+1.

I was just going post "I stopped reading when you started making up words". Smiley

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dree12
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May 10, 2013, 10:57:20 PM
 #20

unfortunately the average chinese annual family income is $25/ year. so each of them were only able to invest about 10 cents.

Huh

China GDP per capita = $10000

Family = 4 people

Therefore, average family income = $40000/year.

Where do you get $25/year from?
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