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Author Topic: BitCoin in China  (Read 6732 times)
winnetou
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June 28, 2011, 05:05:29 PM
 #1

Hello chinese BitCoin users!

I am interested in China and every once in a while I am importing some stuff from there and I hope that I am able to visit China soon.

Many things in the world are coming from your country and I think to provide a 100% BitCoin circulatory it is necessary that the supplier of products are accepting BitCoins, too. That would be great. In this context I would like to ask you some questions:

  • I would like to know how popular BitCoin is in China? Are there already some "real life" shops where you can pay by BitCoin?
  • Are there any laws against secondary currencies like BitCoin or some official statements from the government?
  • Are there already some manufactors out there who are accepting BitCoins?

I would be glad to hear from you soon Smiley

greetings from Germany

winnetou
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June 29, 2011, 01:03:53 AM
 #2

Hi, Winnetou

This is Robert . I am a Chinese Canadian living in Montreal Quebec. I think I can answer some of your questions here ,

The answer is based on the situation of  Mainland China, excluding Taiwan or Hongkong.

 *   I would like to know how popular BitCoin is in China? Are there already some "real life" shops where you can pay by BitCoin?

There is a tiny tiny number of people who is aware of this ,there is no news about Bitcoin circulated on the major media controlled by the government ,as you know, 99.99% of Chinese populaton don't read English and there is Great Fire Wall preventing people getting in touch with the outside world .Let alone the real life shops.

As far as I know ,there are around 150 users on this forum who speak Chinese (data from the leaked MtGox email addresses).So ,it is safe to say it is very unpopular.

Once there are more news coming out in Chinese Media ,I don't know what will happen.


*    Are there any laws against secondary currencies like BitCoin or some official statements from the government?

There is now laws against now, however you won't be benefiting from it unless you have certain connections.
Under the existing economy structure , banks are strictly controlled ,  Bitcoin will soon be banned or manipulated by a government-controlled bank  once it became popular in Mainland China.



*Are there already some manufacturers out there who are accepting BitCoins?

Not at all! Although there are some traders sell on Taobao.com (Chinese version of Ebay , controlled partially by Yahoo!)

Hope this be of some help to you

Regards

Robert

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winnetou
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June 29, 2011, 08:29:01 AM
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Thank you Robert for your informative answer.

I am still hoping that BitCoin will have a (bright) future in China. I dont know but lets see how it envelopes.. Smiley
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June 30, 2011, 08:08:09 AM
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Some resources:
  - http://en.bitcoin.it/wiki/Bit - BTCChina exchange
  - http://en.bitcoin.it/wiki/21bitcoin - Mining Pool and Mining Contracts
  - http://zh-cn.bitcoin.it/wiki/%E9%A6%96%E9%A1%B5
 

peak
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June 30, 2011, 01:00:00 PM
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Hi, Winnetou

This is Robert . I am a Chinese Canadian living in Montreal Quebec. I think I can answer some of your questions here ,

The answer is based on the situation of  Mainland China, excluding Taiwan or Hongkong.

 *   I would like to know how popular BitCoin is in China? Are there already some "real life" shops where you can pay by BitCoin?

There is a tiny tiny number of people who is aware of this ,there is no news about Bitcoin circulated on the major media controlled by the government ,as you know, 99.99% of Chinese populaton don't read English and there is Great Fire Wall preventing people getting in touch with the outside world .Let alone the real life shops.

As far as I know ,there are around 150 users on this forum who speak Chinese (data from the leaked MtGox email addresses).So ,it is safe to say it is very unpopular.

Once there are more news coming out in Chinese Media ,I don't know what will happen.

Instead, I've seen reports from major website like Tencent, Sina. There are quite a lot of people who know bitcoin, but most of them do not think Bitcoin will success, and have no interest to get in. Chinese are realist.. GFW is used to block informations that government do not want people to know, while Bitcoin is not strong enough to be noticed.

150 is  not the real number. Do you think those Chinese science geek will use QQ or 163 as their daily email? Most of them will prefer gmail.
*    Are there any laws against secondary currencies like BitCoin or some official statements from the government?

There is now laws against now, however you won't be benefiting from it unless you have certain connections.
Under the existing economy structure , banks are strictly controlled ,  Bitcoin will soon be banned or manipulated by a government-controlled bank  once it became popular in Mainland China.

haha. You are too confidence on GFW. If it have ability to kill bitcoin, it can also kill BT and Emule. But BT and emule are living very well in China till now.
*Are there already some manufacturers out there who are accepting BitCoins?

Not at all! Although there are some traders sell on Taobao.com (Chinese version of Ebay , controlled partially by Yahoo!)
Are there already some manufacturers in other country who are accepting BitCoins?

As I know, Sharkroman, a major Bitcoin seller in Taobao, who sell nearly 3000 Bitcoins in June.

Hope this be of some help to you

Regards

Robert

revcoin
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June 30, 2011, 02:13:30 PM
 #6

pls list your demend on china product,and its volume.maybe the early chinese adopter here who has superiority of source will cooperate with you.

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winnetou
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June 30, 2011, 02:32:36 PM
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pls list your demend on china product,and its volume.maybe the early chinese adopter here who has superiority of source will cooperate with you.

I am mainly interested in stretched oil paintings like you find it @ http://www.lightinthebox.com/wholesale-Top-Selling-Paintings_c3920 but in the beginning i do not need much pieces because i want to verify the quality and trust relation. I think direct suppliers can make a better price than the western orientated lightinthebox store !? You can also pm me for details and offers Smiley
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July 01, 2011, 04:34:05 AM
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As I write this from inside China,  and as someone who does a lot of business with factories in China,  I can tell you that there IS A LOT OF INTEREST in bitcoins by these factory owners.
I can also tell you that many of them are willing to accept partial payment in Bitcoins for their orders.

There is a lot of discussion on chinese message boards about bitcoins,  and as the word spreads,  I suspect they will become more and more popular in China.

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July 01, 2011, 12:44:56 PM
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As I write this from inside China,  and as someone who does a lot of business with factories in China,  I can tell you that there IS A LOT OF INTEREST in bitcoins by these factory owners.
I can also tell you that many of them are willing to accept partial payment in Bitcoins for their orders.

There is a lot of discussion on chinese message boards about bitcoins,  and as the word spreads,  I suspect they will become more and more popular in China.


imo it Would be great for bitcoin  if some  e-shops in China with international shipping started to accept bitcoins. There is a lot of cheap stuff on chinese e-shops and it could rapidly speed up whole bitcoin economy.

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July 01, 2011, 09:52:23 PM
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Hi, I'm also a fellow German bitcoiner with some interest in this question as I am actually going to China (Shanghai) in a few weeks for business reasons and to study Mandarin for a year.

Since I already have a couple of friends and family in both the US and China involved in import/exports businesses, I would love to help establish a hub or channel for bitcoin related goods transfers from into and out of mainland China!

I will definitely talk about this with my Chinese friends, perhaps there are more people here with some interest/experience to get involved? If so, feel free to post here or PM me!

Cheers,

RogerR
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July 04, 2011, 12:08:05 AM
 #11

Where are the Chinese exchanges?  How would I get BTC -> CNY and withdraw CNY?  I have a Chinese fiancee and would love to be able to just send her some BTC while we wait out the USCIS and their obnoxiously slow visa process.
revcoin
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July 05, 2011, 03:52:13 PM
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Where are the Chinese exchanges?  How would I get BTC -> CNY and withdraw CNY?  I have a Chinese fiancee and would love to be able to just send her some BTC while we wait out the USCIS and their obnoxiously slow visa process.
try these:
https://btcchina.com
http://doten.co

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August 01, 2011, 01:05:01 PM
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September 15, 2012, 08:11:38 PM
 #14

Quote
As I write this from inside China,  and as someone who does a lot of business with factories in China,  I can tell you that there IS A LOT OF INTEREST in bitcoins by these factory owners.
I can also tell you that many of them are willing to accept partial payment in Bitcoins for their orders.

There is a lot of discussion on chinese message boards about bitcoins,  and as the word spreads,  I suspect they will become more and more popular in China.

I am currently attempting to have some products manufactured by a Chinese company, and am finding the wire transfer payments to be pretty annoying and rather expensive.  I would love to be able to pay in Bitcoin, however they don't seem to know what it is or care.

I would love to see a directory of Chinese companies that are willing to accept Bitcoin, does anyone know of such a thing.

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September 16, 2012, 01:57:56 AM
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Many Chinese suppliers are small companies, so I think they would be willing to try Bitcoin if you can take the time to explain to them what it is and how they can convert it back to RMB.

Try it, next time you buy something at Alibaba.com ou Aliexpress.com ask them if they will take Bitcoin. It's more likely they will take it if it's your long time supplier and not someone you've just met.

Bitcoin is definitely better than WesternUnion and they're all willing to accept WU, so why not Bitcoin?
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