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Author Topic: 10 fold increase in trading volume on btcchina.com during july  (Read 1653 times)
dancupid
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July 31, 2011, 09:28:37 AM
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I live in China (though I'm British and generally use Britcoin.com), but I've been keeping an eye on the Chinese market.
Over the last couple weeks there has been a noticeable upturn in the volume of trading being done on btcchina.com. Though the figures are still small they are beginning to approach the trade volumes of European sites and todays figures put them in the top 5.
I think it's important for bitcoin to break into China. For now the Chinese Government don't seem to be interfering.

http://bitcoincharts.com/markets/btcnCNY.html
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July 31, 2011, 10:50:37 AM
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I live in China (though I'm British and generally use Britcoin.com), but I've been keeping an eye on the Chinese market.
Over the last couple weeks there has been a noticeable upturn in the volume of trading being done on btcchina.com. Though the figures are still small they are beginning to approach the trade volumes of European sites and todays figures put them in the top 5.
I think it's important for bitcoin to break into China. For now the Chinese Government don't seem to be interfering.

http://bitcoincharts.com/markets/btcnCNY.html

This is good to see.

I share your opinion that china is an important place for bitcoin. Might even become a driving force... you never know. There's many possibilities. Looking at falkvinges 4 drivers of bitcoin (unlawfull trade, international trade, merchants, investment), I can see many (if not all of them) are highly related to areas in which china plays an important role in the world.

I'm hoping for the best ^^

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July 31, 2011, 12:41:49 PM
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China has more US dollar millionaires than all the Eu put together or the US for that matter. So yes this is where a lot of VC etc can be gained from I'd say that most of the US and Eu are still in such deep..... that seeing much apart from know how from there is extremely unlikely.

Prior to seeing decent acceptance over here we need a simplification of the client interface and somebody who can actually translate accurately what BTC is into Chinese most of the current attempts are good but still leave a lot of points open to a large amount of ambiguity that actually isn't there.

I remember a lot of peeps laughing at this exchange earlier  Tongue

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July 31, 2011, 09:18:22 PM
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This is important for the establishment of the International Trade pillar that is arguably Bitcoin's greatest strength.

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August 01, 2011, 02:33:30 AM
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Pshaw, like there's many people in China.
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August 01, 2011, 04:49:09 AM
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Pshaw, like there's many people in China.

If you look at other countries with massive populations like India then you'll see a significantly lower number of dollar millionaires.

These are also the people that hold the lion's share of US treasuries.
China at the moment is the major engine driving at most of the world leaving recession. You can say lots of stuff about free this and free that but when it comes to getting stuff done this is the place to be.

There are massive political issues that need sorting out over time here (particularly in terms of education), but as far as money is concerned nothing major goes down anywhere without someone here getting a slice of the pie one way or the other. I know this is quite contrary to what a lot of folks back home think, but it is non the less fact.

Grin

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