China still in the loop?

[baggage]

I thought china was done with bitcoin but when I look at Fiatleak they are doing the most business.  Anyone with
knowledge of what is happening?
 

[Velaciela]

the chinese btc exchanges provide FREE TRADING

so there are so many daily trader... so the trading volume means nothing

[cwfabc]

more traders，more stable

[moonriver]

the chinese btc exchanges provide FREE TRADING

so there are so many daily trader... so the trading volume means nothing

actually it means a lot. transaction fee doesn't affect volume a lot. will you have much more transactions if the exchange you use is fee free?

[zhaojinqqq]

Yes. we are buying bitcoin because the price is low.

[LightningFire]

China never banned bitcoin.

What China banned was preventing banks from exchanging bitcoin. People can still fund and withdrawal from exchanges to banks. Chinese Banks wanted to start accepting bitcoin as a currency, similar to if you walked into a US bank with some Canadian dollars and wanted to exchange them - they would let you.

The reason Chinese banks wanted bitcoin was because bitcoin would suit the Chinese economy. Their modes of payment are much different than in other parts of the world.

[franky1]

China never banned bitcoin.

What China banned was preventing banks from exchanging bitcoin. People can still fund and withdrawal from exchanges to banks. Chinese Banks wanted to start accepting bitcoin as a currency, similar to if you walked into a US bank with some Canadian dollars and wanted to exchange them - they would let you.

The reason Chinese banks wanted bitcoin was because bitcoin would suit the Chinese economy. Their modes of payment are much different than in other parts of the world.

yay, finally people are looking beyond the shroud of misinformation from media, and truly understanding what laws have changed and not. this is the same for russia too.

if governments truly were to ban exchanging currencies that were not its own legal tender the first you'll see of it is the bureau de change shops close for business. the main bit that countries are trying to do is protect their legal tender from being replaced. but they are not stopping people from using other currencies alongside.

[Siegfried]

More people learning about bitcoin and buying.

[Kazimir]

China never banned bitcoin.

What China banned was preventing banks from exchanging bitcoin. People can still fund and withdrawal from exchanges to banks. Chinese Banks wanted to start accepting bitcoin as a currency, similar to if you walked into a US bank with some Canadian dollars and wanted to exchange them - they would let you.

The reason Chinese banks wanted bitcoin was because bitcoin would suit the Chinese economy. Their modes of payment are much different than in other parts of the world.

This.

Here's in interview with Bobby Lee of BTCChina explaining about Bitcoin's future in China: http://www.cryptocoinsnews.com/2014/02/12/future-bitcoin-china-bobby-lee-speaks/

China is definitely still in the loop. It's just that the craze from November was tempered a bit, that's all.

[roslinpl]

more traders,more stable

more traders,more stable

Ohh I seems noooo

More traders more chaos

just imagine how wall will change if 1 000 000 will trade.

[p2pbucks]

dont be fooled by media. we are still in global BTC biz loop , welcome to china

[CRServers]

Hello to all,

The FiatLeak site gives a good graphical idea of where the BTC's are going:
http://fiatleak.com/

Regards,

Rodrigo

[tokeweed]

china could bring bitcoin to a whole new level volume-wise. china is where the action is.

[changyong75]

Don't count on China. BTC is actually banned as money by informal threat from the authority.  You can only buy or sell bitcoin as commodity in exchanges. Any trend making bitcoin as a competitor to RMB will bring out more serious attacks.