Chinese New Year - Billions Of Digital Cash Gifts - How much was Bitcoin?

[Kakmakr]

" In China and other Southeast Asian societies, a red envelope is a monetary gift exchanged during holidays or special occasions. Over the past couple of the years, the tradition has gone digital with Tencent and Alibaba both offering virtual red envelopes. The digital version has caught on and last year, the number exchanged on WeChat was an impressive 46.6 billion - the equivalent of 33 envelopes full of cash for every person in China. That's a huge increase on 2016 when the red envelope count came to 8 billion. "

https://www.statista.com/chart/12919/chinese-new-year-will-see-billions-of-digital-donations/

Why did they go for "Ethereum, EOS, and Torn" for this -->  https://www.cryptonewsz.com/blockchain-cuties-gifting-digital-gifts-in-celebrations-of-the-chinese-new-year/7593/

Will we see more Blockchain and Lightning Network focus on this celebration next year? I sincerely hope that the Bitcoin community can see the potential of digital gifts in a massive market like this. 

                                                                           Let's give the big boys like Tencent and Alibaba a Bitcoin run for their money in 2020!

[Pursuer]

I don't really understand what the relationship is between "Blockchain Cuties" and Alibaba, Chinese new year and the tradition that you are talking about here! that game is another game on platforms such as Ethereum (something similar to CryptoKitties that crippled ETH network recently) and so their payment is in the token of that platform. they go as far as copying their game on other platforms similar to Ethereum. that is why these tokens were chosen. that still is not related to the red envelope thing, they just did some promotions during the new year trying to attract more people to their game.

[stompix]

I don't really understand what the relationship is between "Blockchain Cuties" and Alibaba, Chinese new year and the tradition that you are talking about here!

Neither do I, a mess of everything or Kakmakr being again overhyperoptimistc as he has always been 
So, let's drop some cats and dogs and maybe pigs since it's that year on his parade:

Chinese New Year  -  Billions Of Digital Cash Gifts - How much was Bitcoin?

Well, since we have no number, the obvious answer is 0!!! 

But, since I was reading another topic regarding LN, imagine this....44.6 billion transactions in a week, 300kb blocks....

[Kakmakr]

I don't really understand what the relationship is between "Blockchain Cuties" and Alibaba, Chinese new year and the tradition that you are talking about here!

Neither do I, a mess of everything or Kakmakr being again overhyperoptimistc as he has always been 
So, let's drop some cats and dogs and maybe pigs since it's that year on his parade:

Chinese New Year  -  Billions Of Digital Cash Gifts - How much was Bitcoin?

Well, since we have no number, the obvious answer is 0!!! 

But, since I was reading another topic regarding LN, imagine this....44.6 billion transactions in a week, 300kb blocks....

Thanks for the kind words guys. <joke> 

This thread actually tie into a previous thread that I created, where I was asking people to create a killer app for Bitcoin to increase adoption. We only need a fraction of that 46.6 billion gifts to be done with Bitcoin and we will see a massive increase in the price. 

We need a Bitcoin version of ‘CryptoKittens’ and the tx's it generates, to take us to the Moon. 

[sheenshane]

What is the connection of Alibaba and blockchain though? Well yes, let's say that the digital red envelop worked in China and gave 8 billion revenue to Alibaba and it's a very high rate. But it's also just like a fiat but you are only notified online with the gift the people sent to you. There's still a big difference between the two. (IMO)

snip-
We need a Bitcoin version of ‘CryptoKittens’ and the tx's it generates, to take us to the Moon. 

Well, this is a good Idea mate but ain't sure when it will happen.

[Slow death]

I wonder why we still want China to have some expression in the crypto world again? the Chinese political system is dangerous to everyone and dangerous to bitcoin, no one ever knows what the damn Chinese government will do. If we stay away from the influence of the Chinese, we will be fine.

[KingScorpio]

" In China and other Southeast Asian societies, a red envelope is a monetary gift exchanged during holidays or special occasions. Over the past couple of the years, the tradition has gone digital with Tencent and Alibaba both offering virtual red envelopes. The digital version has caught on and last year, the number exchanged on WeChat was an impressive 46.6 billion - the equivalent of 33 envelopes full of cash for every person in China. That's a huge increase on 2016 when the red envelope count came to 8 billion. "

https://www.statista.com/chart/12919/chinese-new-year-will-see-billions-of-digital-donations/

Why did they go for "Ethereum, EOS, and Torn" for this -->  https://www.cryptonewsz.com/blockchain-cuties-gifting-digital-gifts-in-celebrations-of-the-chinese-new-year/7593/

Will we see more Blockchain and Lightning Network focus on this celebration next year? I sincerely hope that the Bitcoin community can see the potential of digital gifts in a massive market like this. 

                                                                           Let's give the big boys like Tencent and Alibaba a Bitcoin run for their money in 2020!

i doubt that matters a lot

[stompix]

I wonder why we still want China to have some expression in the crypto world again?

It's called post china banned bitcoin traumatic symptom 

For years China has become less and less relevant in the crypto scene, with all the fake stuff in terms of volume, ownership and usage being debunked one after the other but somehow people still cling to it as the hope that will push  BTC to the moon.

Well, to be honest, it's understandable, we're deep in bear territory, every thread we grab might be the one that lifts us from this boing market.

[muslol67]

Will we see more Blockchain and Lightning Network focus on this celebration next year? I sincerely hope that the Bitcoin community can see the potential of digital gifts in a massive market like this. 

                                                                           Let's give the big boys like Tencent and Alibaba a Bitcoin run for their money in 2020!

It is a fact that the Asian crypto world is on its way. I am sure that there will be some developments in the coming period and especially the Asian countries will be at the beginning of this development.

Especially if the support of Alibaba, Amazon and so on, the crypto bull may come again.

[seven2smoke1]

Will we see more Blockchain and Lightning Network focus on this celebration next year? I sincerely hope that the Bitcoin community can see the potential of digital gifts in a massive market like this. 

                                                                           Let's give the big boys like Tencent and Alibaba a Bitcoin run for their money in 2020!

It is a fact that the Asian crypto world is on its way. I am sure that there will be some developments in the coming period and especially the Asian countries will be at the beginning of this development.

Especially if the support of Alibaba, Amazon and so on, the crypto bull may come again.

Absolutely right! If this big site like Alibaba or Amazon start to accept bitcoin like a payment method, I'm sure that we will see a high increase of bitcoin price and the market will be at a new peak. Almost in Asians countries, like china and India, because they are so much people there so the increase will be huge. I'm sure that it will happen in the future and then we can see our crypto value increasing again.

[r1s2g3]

This thread actually tie into a previous thread that I created, where I was asking people to create a killer app for Bitcoin to increase adoption. We only need a fraction of that 46.6 billion gifts to be done with Bitcoin and we will see a massive increase in the price. 

We need a Bitcoin version of ‘CryptoKittens’ and the tx's it generates, to take us to the Moon. 

But these 46.6 billion is worth anything? I did not see any price associated with it.  I learnt a few days agao that Chinese New year is a very big festival there and giving red envelope is tradition.

PS: On side note, Can we infer on Average a chinese person communicate with 33 person.

[btyco]

A lot of the digital red packets are from wechat and was actual money. However, when it becomes more mainstream they will exchange red packets of bitcoin instead, as NEO as it is china

[mrdeposit]

It seems unpredictable how the effect will be on Bitcoin price. When we look at last year, Chinese new year has had a big impact on the price and this year is not guaranteed. But, after the last price drop, we also witnessed that it was not affected when we think about the holidays.