Nefario
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January 05, 2011, 07:16:51 AM |
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For the Yuan exchange market it's already, kind of available now but it's very informal, and I don't think all that useful.
Basically I have available Yuan500 cash (in a sock), this is worth about US$60 and I will sell for BTC2.5 for one Chinese Yuan.
I will then get a notepad and make a note that the amount of yuan you have purchased belongs to you. My only problem is getting the yuan to you at some point, unless you already have a Chinese bank account it would be difficult to transfer (probably impossible, and no use). It would be a kind of bank account in a way.
One thing that can be done is to use the currency to buy things in China (or have me/someone else) buy them for you and ship them to you(I am going to talk to someone about this on Sunday). Certain items such as bicycles are so cheap here that even with shipping costs it works out at a fraction of the cost of locally bought ones. The best value are those commuter, folding bikes.
I am trying to get one of my students to do the translation of the wiki so they can earn some BTC, they want to use a VPN service (I am pushing mullvad) to get unrestricted access to the net.
I think one of the things that you (as westerners) can offer to those in China at least (maybe not so much Korea) is information services. Access to private Tor bridges, vpn services and website hosting etc. Things that are all heavily regulated here (it is illegal to run a website in China without government permission, and you must hire some approved people to censor it).
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