Why is China so important for Bitcoin?

[igorr]

China have yuan !

[Honeypot]

Read the recent findings of Willy report.

The so-called china push is a myth that cost many chinese and others alike their money which poured into that hands of few manipulators behind the scenes.

If nothing else, chinese panic destroyed many chances to rise higher than 1112.

Buy a lot alone is NOT a push. There's more to it than that.

Bit coin was only spurred on briefly by the 'news' of china, which was largely negated by their panic sells.

Also, you need to account for other people's undocumented population when determining the final number of world population. You also need to determine the so called overseas chinese being counted as citizens in china despite their lack of physical presence due to census.

Check it right, get it right.

[niothor]

Have you guys been on fiatleak. Most trading occurs in China, not USA. I should of said China dominates bitcoin trading by 4 to 1

Using fiatleak for any serious analysis of bitcoin trading is like using farmville to research productivity of crops.

[MICRO]

Have you guys been on fiatleak. Most trading occurs in China, not USA. I should of said China dominates bitcoin trading by 4 to 1

Using fiatleak for any serious analysis of bitcoin trading is like using farmville to research productivity of crops.

AHAHAHHA:... I CANT STOP LAUGHING ROFL .
U made my day with that post , its so good analogy that its brutal

Fiatleak is based on ... Um is it based on something ? Or just pure bs ?

[C64_4EVA]

Considering so many feel that China is going to save the world economy it is not surprising that so many feel it is detrimental to Bitcoin's success.

There are many reasons for this but some of the biggest are 1) Huge population 2) Restrictive government so lots of people are looking for places to stash money and 3) The Chinese people are known to love a good speculation  

[niothor]

Have you guys been on fiatleak. Most trading occurs in China, not USA. I should of said China dominates bitcoin trading by 4 to 1

Using fiatleak for any serious analysis of bitcoin trading is like using farmville to research productivity of crops.

AHAHAHHA:... I CANT STOP LAUGHING ROFL .
U made my day with that post , its so good analogy that its brutal

Fiatleak is based on ... Um is it based on something ? Or just pure bs ?

It takes data the exchanges publish.
So if i do a transaction in yen it will show like somebody in Japan is buying which is totally false.

Also , I don't really want to open again the subject on huobi okcoin and their already proven fake volume and fake trades that are actually never executed.
There are plenty of articles on this already.

[Honeypot]

Considering so many feel that China is going to save the world economy it is not surprising that so many feel it is detrimental to Bitcoin's success.

There are many reasons for this but some of the biggest are 1) Huge population 2) Restrictive government so lots of people are looking for places to stash money and 3) The Chinese people are known to love a good speculation 

LOL

they love to gamble and lose their shirt. Casinos and gambling places everywhere are fraught with uppity chinese who thought they were smarter than the house.

No one is easier to manipulate and dominate than someone who thinks themselves clever, and everyone likes to feel clever.

Especially the stupid ones.

[beetcoin]

Considering so many feel that China is going to save the world economy it is not surprising that so many feel it is detrimental to Bitcoin's success.

There are many reasons for this but some of the biggest are 1) Huge population 2) Restrictive government so lots of people are looking for places to stash money and 3) The Chinese people are known to love a good speculation  

wait, who actually thinks china is going to save the world economy?

i personally just think that china believes it is at the center of the world, that it is supposed to be the #1 superpower of the world. they have the hunger of a honey badger, which is why it would help bitcoin along so much if the government DID accept it.

[Velkro]

any country with many people is important for bitcoin
adoption matters, it will make Bitcoin more usefull so more valuable

i can't wait to buy food/drinks with bitcoin everyday

[beetcoin]

Considering so many feel that China is going to save the world economy it is not surprising that so many feel it is detrimental to Bitcoin's success.

There are many reasons for this but some of the biggest are 1) Huge population 2) Restrictive government so lots of people are looking for places to stash money and 3) The Chinese people are known to love a good speculation 

LOL

they love to gamble and lose their shirt. Casinos and gambling places everywhere are fraught with uppity chinese who thought they were smarter than the house.

No one is easier to manipulate and dominate than someone who thinks themselves clever, and everyone likes to feel clever.

Especially the stupid ones.

to be fair, the chinese and vietnamese are both really good gamblers overall.

[TaunSew]

Communists in China.  Not only is there the money restrictions, as other users have pointed out, but there's a small statistical likelihood that some Maoist could get into power and decree anyone with more than $10K in the bank will be shot.  

Rich Chinese for decades have been stashing their fortunes abroad.  

[Honeypot]

Considering so many feel that China is going to save the world economy it is not surprising that so many feel it is detrimental to Bitcoin's success.

There are many reasons for this but some of the biggest are 1) Huge population 2) Restrictive government so lots of people are looking for places to stash money and 3) The Chinese people are known to love a good speculation 

LOL

they love to gamble and lose their shirt. Casinos and gambling places everywhere are fraught with uppity chinese who thought they were smarter than the house.

No one is easier to manipulate and dominate than someone who thinks themselves clever, and everyone likes to feel clever.

Especially the stupid ones.

to be fair, the chinese and vietnamese are both really good gamblers overall.

Ask people in casinos if they are really 'good gamblers' or just putting up air. They will tell you very frankly they suck ass.

[robmob]

If you need to ask this question then that tell me you did not pay attention in school.

[MICRO]

If you need to ask this question then that tell me you did not pay attention in school.

Quesion is not good. Coz its made like that so it sounds like China is important for bitcoin but , in reality its not. So it should been like this.
Is China important to bitcoin. And simple answer would be . NO 1

[beetcoin]

Considering so many feel that China is going to save the world economy it is not surprising that so many feel it is detrimental to Bitcoin's success.

There are many reasons for this but some of the biggest are 1) Huge population 2) Restrictive government so lots of people are looking for places to stash money and 3) The Chinese people are known to love a good speculation  

wait, who actually thinks china is going to save the world economy?

i personally just think that china believes it is at the center of the world, that it is supposed to be the #1 superpower of the world. they have the hunger of a honey badger, which is why it would help bitcoin along so much if the government DID accept it.

More like Wreck the world economy, the Chinese fake their GDP all the time. The destroy farmland and villages for ghost towns so they can keep their realestate market from collapsing.

http://www.forbes.com/sites/gordonchang/2013/07/14/biggest-fib-of-the-year-china-gdp-grows-7-5-in-q2/

yeah it's interesting to see how that all folds out.. they are artificially building towns. who in their right mind would want to invest in the real estate market there?

[CEG5952]

Quesion is not good. Coz its made like that so it sounds like China is important for bitcoin but , in reality its not. So it should been like this.
Is China important to bitcoin. And simple answer would be . NO 1

I tend to disagree. When all the western exchanges stop following Huobi and Okcoin like lap dogs, I'll entertain the idea. At least to speculators, China is very important, clearly. And for the network -- don't you think a country of 1.351 billion could be of significant value?

[nwfella]

Personally I think it's more a matter of the peoples mindset.  The Chinese seem to have the concept of savings down to an art form.  I wouldn't be at all surprised if the government of China itself had a fairly large stash of coin's tucked away somewhere.

*Though I don't think Chinese adoption is critical to bitcoin I know it would certainly speed things along considerably.

[ljudotina]

Cmon now guys. Who is stupid enough to say that 1.3b people are not important?!! Are you plan and simple crazy? On crack?!
Of course China is important. But not in "it will kill BTC" way. China adopting BTC would speed up (by huge amount of time) adoption of BTC and price ofc, but they can not kill it, just slow it down. BTC can survive easy w/o 1 single Chineese touching it, but it can flourish if for example whole china accepts it.

[r3animation]

China is important for Bitcoin.

However, Bitcoin is more important to China. Simply because it's an easy way to get money out of China with their strict laws. They buy art, property, etc to get money out of the country so Bitcoin is easier additional avenue for them.

[Khagan]

because they're most populated country on earth