China Central Television (CCTV) give a positive report on bitcoin

[innovation]

China Central Television (CCTV) give a positive report on bitcoin
This report maybe boom the development of Bitcoin in China again.

http://video.sina.com.cn/p/news/v/2013-08-09/083562764345.html (in Chinese)

[NtGuilty]

There is no subtitles...

[BombaUcigasa]

Did they really name their organization CCTV? Wow.....

[solex]

Effect is seen on sourceforge

http://sourceforge.net/projects/bitcoin/files/stats/map?dates=2013-08-09

[gog1]

That's not really a positive report.  It talks about the distributed, P2P, without central issuing authority and 'anonymous' nature of bitcoin and supporter view those as a positive which will make it the ultimate currency.  Then it switches tone - in the investment world, few are into bitcoins - Warren Buffet never bought any BTC.  In main street, few understand bitcoins.  Skeptics believe that its the natures listed above that will doom bitcoin as people only used it for speculation or money laundering or buying drugs or doing illegal things without fear of prosecution.  Whether bitcoin will succeed or not has yet to be determined.

In general, you can say it's a 'balance' to slightly 'negative' report.

[Ares]

That's not really a positive report.  It talks about the distributed, P2P, without central issuing authority and 'anonymous' nature of bitcoin and supporter view those as a positive which will make it the ultimate currency.  Then it switches tone - in the investment world, few are into bitcoins - Warren Buffet never bought any BTC.  In main street, few understand bitcoins.  Skeptics believe that its the natures listed above that will doom bitcoin as people only used it for speculation or money laundering or buying drugs or doing illegal things without fear of prosecution.  Whether bitcoin will succeed or not has yet to be determined.

In general, you can say it's a 'balance' to slightly 'negative' report.

Thanks! Even a slightly negative report in a country like that will undoubtedly result in a net positive for Bitcoin.

[metal_jacke1]

The only reason why Communists are tipping their hats to bitcoin is because it undermines and challenges western financial institutions.

[Dps23]

In general, you can say it's a 'balance' to slightly 'negative' report.

I think it is hard to understand chinese culture. I am not chinese nor from US. I have been and lived in both countries (but only for several months in each country). Compare to my small nation these countries are huge and also differencies among districts or parts of country and people that are living there are huge as well. Among many things, people in US are very indiviualistic on the contrary to people in China. In china they follow the rules, they respect goverment (in US too but because of different reasons I would say), it is hard to describe it but for example economy and economic behaviour of people in US and China is not the same.
Thus adopting of bitcoin will be different as well. for many reasons, people who deal with bitcoin in china are different social group than in US.
Because an average worker/people from china have different interests and worries and expectations from life and also different people (in comparison to US) have necessary computer equipment and time for internet browsing and are able to comunicate in English what is necessary for mining or trading bitcoins.
eg. when last year started to appear news about ghost cities and empty housesin China, people on TV usually threatened about upcoming bubble which would be worse than US bubble. but only because they think people beheave in the same way but they are so many differences between these nations! In my opinion China is so huge that at first several ghost cities means nothing and also people react differently on this situation. So I dont expect the same ending of "bubble" which happened in US market. And even if people would start to have problems with mortgage payments in large scale and etc. - solution would be different as well - what did chinese goverment in 1989 - just shoot people, I think in case of some crisis or hard problems they would send tanks among people again in order to calm it down - what is very unlikely in US (in US they might start some war abroad).
In my opinion most of finnacial funds (of fiat money) still flows from US and USA has the biggest impact on btc exchange rate. Because everybody looks at winklewoss twins and their experiment to introduce btc etf (or whatever it is) because bitcoin foundation and current developers are from US.

I expect bitcoin will slump down again this year, maybe to $50. There is no solid reason (except of expectations of some people) why it should be over $100 when we dont have 10x more merchants and goods and banks than we had in January.

[gog1]

I think the Chinese are into profiteering, the lure of simply turning on a computer and making lots of money is attractive; similarly, making and selling these machines is attractive as well.  I don't think they care too much about the ideals of bitcoin and what not.

Westerners are very skeptical when it comes to bitcoin, finance, money making, technology.  In general, I say Westerners give up 'freedom / liberty' on their money in the form of high taxation, forced savings / pension plans and favor freedom of expression / movements, etc.  Chinese are much more willing to give up traditional liberty for money.

[alberthrocks]

Effect is seen on sourceforge

http://sourceforge.net/projects/bitcoin/files/stats/map?dates=2013-08-09

Something interesting to note here - it seems that the geeks of China are doing this for sure. How do I know?

Code:

        Country Android Linux   Mac     Unknown Windows Total
1. 	China 	0% 	91% 	0% 	0% 	9% 	6,260

Linux is 91%, while Windows is only 9%. Though the marketshare of Linux is greater in China than Windows, this is still a pretty significant percentage!
And of course, no Macs. Not exactly the most appealing OS in China, anyway.

The US, on the other hand:

Code:

        Country Android Linux   Mac     Unknown Windows Total
2. 	United States 	0% 	6% 	19% 	8% 	67% 	825

I guess the geeks in the US use Windows?

[Wary]

There is no solid reason (except of expectations of some people) why it should be over $100 when we dont have 10x more merchants and goods and banks than we had in January.

Currently BTC is store of value, rather that means of exchange. Gold-2, rather than Visa-2. Therefore the number of goods and merchants doesn't matter much. What does matter is publicity. BTC awareness is going up and the price will follow.

[Dps23]

There is no solid reason (except of expectations of some people) why it should be over $100 when we dont have 10x more merchants and goods and banks than we had in January.

Currently BTC is store of value, rather that means of exchange. Gold-2, rather than Visa-2. Therefore the number of goods and merchants doesn't matter much. What does matter is publicity. BTC awareness is going up and the price will follow.

I agree. But with the rising price of BTC it also rises different possibilities of substitute coins.
Currently there are hundreds of coins because people saw that price of BTC could rise from $10 to $266 within several Months. And many coins were not only copies of BTC but improved cryptocurrencies world. Like proof of stake concept, faster confirmations (if I am correct the fastest is 10 sec.), etc.
BTC will stay store of value but for how long and which level of value?

[polarhei]

Effect is seen on sourceforge

http://sourceforge.net/projects/bitcoin/files/stats/map?dates=2013-08-09

Something interesting to note here - it seems that the geeks of China are doing this for sure. How do I know?

Code:

        Country Android Linux   Mac     Unknown Windows Total
1. 	China 	0% 	91% 	0% 	0% 	9% 	6,260

Linux is 91%, while Windows is only 9%. Though the marketshare of Linux is greater in China than Windows, this is still a pretty significant percentage!
And of course, no Macs. Not exactly the most appealing OS in China, anyway.

The US, on the other hand:

Code:

        Country Android Linux   Mac     Unknown Windows Total
2. 	United States 	0% 	6% 	19% 	8% 	67% 	825

I guess the geeks in the US use Windows?

People use Linux as it is not centralized, Can follow up if defects found.

[polarhei]

There is no solid reason (except of expectations of some people) why it should be over $100 when we dont have 10x more merchants and goods and banks than we had in January.

Currently BTC is store of value, rather that means of exchange. Gold-2, rather than Visa-2. Therefore the number of goods and merchants doesn't matter much. What does matter is publicity. BTC awareness is going up and the price will follow.

I agree. But with the rising price of BTC it also rises different possibilities of substitute coins.
Currently there are hundreds of coins because people saw that price of BTC could rise from $10 to $266 within several Months. And many coins were not only copies of BTC but improved cryptocurrencies world. Like proof of stake concept, faster confirmations (if I am correct the fastest is 10 sec.), etc.
BTC will stay store of value but for how long and which level of value?

Currently, When more people,know, the being will be like some precious metal like silver or scandium (rare earth element) because supply is bounded, can monitor by everyone. I think, the price can raise to USD 120 if the kncminer deploys their stuff successfully.

[J603]

Did they really name their organization CCTV? Wow.....

No, they didn't. "CCTV" is not written in Chinese.

But I don't see why it matters anyways?

[tinus42]

Did they really name their organization CCTV? Wow.....

http://en.wikipedia.org/wiki/CCTV