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Author Topic: Sudden jump in Chinese users.  (Read 3528 times)
nibor
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September 29, 2011, 06:57:04 AM
 #1


Number jumped on Tuesday.

Anyone know why?


See http://bitcoinstatus.rowit.co.uk

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ArsenShnurkov
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September 29, 2011, 07:08:08 AM
 #2

Anyone know why?

https://bitcointalk.org/index.php?topic=45996.0
recently a major China newspaper reported bitcoin
iamzill
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September 29, 2011, 07:08:58 AM
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This might explain some parts of it: https://bitcointalk.org/index.php?topic=45996.0
sukiho
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September 29, 2011, 08:31:00 AM
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what country is the one level with germany? and the one level with the UK? my eyes cant figure it out.
apetersson
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September 29, 2011, 08:34:26 AM
 #5

going by the numbers, ukraine

i can only speculate - ukraine has the lowest power cost in the world. maybe a major mining operation?
sukiho
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September 29, 2011, 08:35:06 AM
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yes, ukraine and canada I think
Frozenace
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September 29, 2011, 08:40:18 AM
 #7

This is good news. If more people start using BTC in China, then it will be a lot easier for me to transfer money from the UK to China.

Interest rates in China for 1 year fixed are 3.5% at the moment (for 2 year fixed it's 4.4%)

Cluster2k
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September 29, 2011, 09:40:22 AM
 #8

The Chinese love to gamble.  In casinos, on the share market.  Bitcoin offers them a great chance to have a play.  If more mainland Chinese are taking notice of bitcoin this could be great for the price.  At least it will lead to some wild price swings.

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fivebells
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September 29, 2011, 10:45:52 AM
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Average folks in the People's Republic of China have an even harder time preserving the value of their savings than Westerners.  They really only have the People's Bank of China  as a safe store for it, and they get an interest rate there which is less than inflation.  So alternative stores of value would be of great interest to many of them.

http://www.nakedcapitalism.com/2011/08/chinese-banks-these-things-arent-banks.html
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September 29, 2011, 11:17:30 AM
 #10

The Chinese people were allowed to start owning gold back when gold was about $400/ounce.

Now gold is close to $2000/ounce.

Bitcoin will be yet another commodity owned by the Chinese.

http://www.bitpools.com
Pool your bitcoins with others. Vote on solutions using the Bitcoin blockchain. Keep your bitcoins in your cold storage until you find a solution you like.
Links and Reviews of useful every day places to spend bitcoins: https://bitcointalk.org/index.php?topic=943143.0
Frozenace
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September 29, 2011, 11:41:31 AM
 #11

Some of my friends in China heavily invested their money in shares. That's an alternative to keeping money in cash as well.

Also, the People's Bank is highly likely going to raise interest rates again, or allow the Yuan to fluctuate more.

Save in China, spend in the UK.

fivebells
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September 29, 2011, 11:51:09 AM
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The Chinese stock market is just as much a crook's game as stock markets everywhere else, though.  Not where you want to be putting the majority of your savings.
Frozenace
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September 29, 2011, 12:07:56 PM
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If every person in China put a dollar/yuan into bitcoin => wishful thinking

Or, if games companies use bitcoin instead of their own currency for virtual goods etc, that would be cool.

Bigpiggy01
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September 29, 2011, 03:38:26 PM
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Quote
If every person in China put a dollar/yuan into bitcoin => wishful thinking

Or, if games companies use bitcoin instead of their own currency for virtual goods etc, that would be cool.

Even more interesting would be if the "money crowd" here get interested they're good for absolutely insane amount of dough.

evoorhees
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September 29, 2011, 07:32:34 PM
 #15

Bigpiggy or others...

In China, what is the current best resource for a Chinese noob to Bitcoin? Are there Chinese Bitcoin pages? Is there one well-designed, informative portal for them?

I REALLY want the Chinese to pick up on this - the ability for them to work around capital controls would be in high demand I'd imagine.
Bigpiggy01
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September 30, 2011, 01:51:41 AM
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There is a really popular QQ group that has everything. I personally don't use it as the security risks are just too great but a lot of people here seem comfortable with the set up.

Another option is taobao.com (Chinese ebay) that has quite a few sell listings for bitcoins and a ton of merchants that accept them (this you have to ask them about in their chat gizmo).

https://btcchina.com/ Has a fairly decent blog section on their exchange that more or less hammers out for a noob what's needed.

http://weibo.com/ Is supposed to be fairly lively as well.

There are other sites as well but they're a bit more fringe and I wouldn't trust them in anyway.

The only thing that's really missing atm is a decent miningpool hosted on China friendly servers either in Hong Kong, Japan or Korea or actually even here. At the moment the only pool that can be stably used from here is deepbit all the others have latency issues that seriously affect overall mining performance.

ElectricMucus
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September 30, 2011, 06:09:17 PM
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The only thing that's really missing atm is a decent miningpool hosted on China friendly servers either in Hong Kong, Japan or Korea or actually even here. At the moment the only pool that can be stably used from here is deepbit all the others have latency issues that seriously affect overall mining performance.
What I don't quite get is why there still are latency issues to china, I haven't had any issues to Australia, Russia or Japan from Europe since like 5 years. Not that the distance makes this much difference. Could it be that the Chinese ISPs still take a somewhat "creative" approach on net-neutrality or is it really just gov't proxy B.S.?

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Bitcoin_Silver_Supply
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September 30, 2011, 07:02:22 PM
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Bigpiggy or others...

In China, what is the current best resource for a Chinese noob to Bitcoin? Are there Chinese Bitcoin pages? Is there one well-designed, informative portal for them?

I REALLY want the Chinese to pick up on this - the ability for them to work around capital controls would be in high demand I'd imagine.

It would also be great PR to have the Chinese gov crack down on bitcoin before the US/EU does. Whenever the Chinese gov cracks down the headlines speak of oppressive behaviour, when the US/EU does they speak of "protecting the people."
evoorhees
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Democracy is the original 51% attack


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September 30, 2011, 07:15:13 PM
 #19


The only thing that's really missing atm is a decent miningpool hosted on China friendly servers either in Hong Kong, Japan or Korea or actually even here. At the moment the only pool that can be stably used from here is deepbit all the others have latency issues that seriously affect overall mining performance.


How hard is it to set up a mining pool?  I'd be happy to do site/graphic/brand design for something like that. If we have a programmer and a Chinese speaker/writer then we'd be good to go.
chunglam
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October 01, 2011, 12:43:46 AM
 #20

I am a Chinese from Hong Kong. I am only recently aware of this Bitcoin project. So I first try to setup rigs for mining, I found it is very difficult to source ATI HD5xxx cards in HK(I know they are available from Newegg or other online stores but either shipping is too expensive or not ship international and also the warranty issue). Finally, I bought two HD5850 from taobao.com (Chinese ebay). Although the store claims these XFX cards, I definitely know they are not. I can barely overclock one card to 850MHz and another one to 880MHz. Setting up a mining pool is not a easy task I believe, you need the domain registration and bandwidth and the most important thing is you may not have enough users to keep the pool running. Currently, I am mining at deepbit.net and abcpool.co
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