Bitcoin Forum
December 04, 2016, 08:42:53 PM *
News: Latest stable version of Bitcoin Core: 0.13.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1] 2 3 4 »  All
  Print  
Author Topic: How big is Bitcoin's presence in China?  (Read 6558 times)
Seal
Donator
Hero Member
*
Offline Offline

Activity: 833


View Profile WWW
February 27, 2012, 11:57:41 PM
 #1

With the US deficit not shrinking any time soon, China looks like its going to becoming one of the world's most important economies. How big is bitcoin in China?

The volume pie chart on Bitcoincharts doesnt show CNY, but given that the country has heaps of rich folk now... this cant be right!?

With China having roots in communism and the state wanting to control everything, bitcoin in theory (being both anonymous and decentralized) would be very valuable to them.

1480884173
Hero Member
*
Offline Offline

Posts: 1480884173

View Profile Personal Message (Offline)

Ignore
1480884173
Reply with quote  #2

1480884173
Report to moderator
1480884173
Hero Member
*
Offline Offline

Posts: 1480884173

View Profile Personal Message (Offline)

Ignore
1480884173
Reply with quote  #2

1480884173
Report to moderator
1480884173
Hero Member
*
Offline Offline

Posts: 1480884173

View Profile Personal Message (Offline)

Ignore
1480884173
Reply with quote  #2

1480884173
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1480884173
Hero Member
*
Offline Offline

Posts: 1480884173

View Profile Personal Message (Offline)

Ignore
1480884173
Reply with quote  #2

1480884173
Report to moderator
Otoh
Donator
Legendary
*
Offline Offline

Activity: 1918



View Profile
February 28, 2012, 12:15:56 AM
 #2

Zhoutong just made Chinese the second language of choice on Bitcoinica

www.bitcoinica.com/trading

    简体中文

select language

I hope that Zhou Xiaochuan, the head of the People's Bank of China, takes note

Node40.com is a leader in DASH hosting, dedicated exclusively to fully managed masternode hosting. Professional, organized, and responsive. I have many dozens of nodes with them.    
BTC = $c²     BTC = 1otohotohMoQoxHuxLBveQiZcV3Pji3Tc      DASH, Digital Cash = www.dash.org   
   CHARITY | MY REP | DICE
grue
Global Moderator
Legendary
*
Offline Offline

Activity: 1932



View Profile
February 28, 2012, 12:33:56 AM
 #3

How big is Bitcoin's presence in China?

It is pitch black. You are likely to be eaten by a grue.

Tired of annoying signature ads? Ad block for signatures
Otoh
Donator
Legendary
*
Offline Offline

Activity: 1918



View Profile
February 28, 2012, 12:42:02 AM
 #4

I'd imagine atm bigger in Honk Kong province but look see:

http://www.blockchain.info/nodes-globe?series=48hrs

edit: & as Honk Kong is most likely where Zhoutong will shortly incorporate Bitcoinica we may see a big growth of interest there when it's officially registered as a Ltd. Co./Inc.

Node40.com is a leader in DASH hosting, dedicated exclusively to fully managed masternode hosting. Professional, organized, and responsive. I have many dozens of nodes with them.    
BTC = $c²     BTC = 1otohotohMoQoxHuxLBveQiZcV3Pji3Tc      DASH, Digital Cash = www.dash.org   
   CHARITY | MY REP | DICE
late443
Jr. Member
*
Offline Offline

Activity: 42



View Profile
February 28, 2012, 12:43:02 AM
 #5

Is there a Chinese forum for bitcoins?

Otoh
Donator
Legendary
*
Offline Offline

Activity: 1918



View Profile
February 28, 2012, 12:52:15 AM
 #6

a search is your friend there, plenty of Ruskie one's if that's any help & just curious if you're Chinese what are you doing with those dreaded 4's in your user name? perhaps you're not or it's some cryptic that I haven't goxed as yet..

Node40.com is a leader in DASH hosting, dedicated exclusively to fully managed masternode hosting. Professional, organized, and responsive. I have many dozens of nodes with them.    
BTC = $c²     BTC = 1otohotohMoQoxHuxLBveQiZcV3Pji3Tc      DASH, Digital Cash = www.dash.org   
   CHARITY | MY REP | DICE
notme
Legendary
*
Offline Offline

Activity: 1526


View Profile
February 28, 2012, 12:56:04 AM
 #7

a search is your friend there, plenty of Ruskies if that's any help & just curious if you're Chinese what are you doing with those dreaded 4's in your user name? perhaps you're not or it's some cryptic that I haven't goxed as yet..

443 is HTTPS port.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
12jh3odyAAaR2XedPKZNCR4X4sebuotQzN
Otoh
Donator
Legendary
*
Offline Offline

Activity: 1918



View Profile
February 28, 2012, 12:58:34 AM
 #8

hmmm, all geek to me dood, but 5 & 8 would be much more auspicious as it also would be for the BTC $ price too  Wink

edit: thanks btw notme for the enlightenment on that, I see you have atm Posts: 1483

one of my favorite numbers is: 143

Node40.com is a leader in DASH hosting, dedicated exclusively to fully managed masternode hosting. Professional, organized, and responsive. I have many dozens of nodes with them.    
BTC = $c²     BTC = 1otohotohMoQoxHuxLBveQiZcV3Pji3Tc      DASH, Digital Cash = www.dash.org   
   CHARITY | MY REP | DICE
Seal
Donator
Hero Member
*
Offline Offline

Activity: 833


View Profile WWW
February 28, 2012, 01:10:54 AM
 #9

Is there a Chinese forum for bitcoins?


Theres a chinese subforum here but its small.

Might be tough information to get... the great firewall of china coming into affect?

Maybe Zhoutong can shed some light on it.

friedcat
Donator
Legendary
*
Offline Offline

Activity: 848



View Profile
February 28, 2012, 05:02:59 AM
 #10

The volume of Chinese Bitcoin exchange(www.btcchina.com) in the past 30 days is 6452.13 BTCs.

Seal
Donator
Hero Member
*
Offline Offline

Activity: 833


View Profile WWW
February 29, 2012, 12:05:47 AM
 #11

The volume of Chinese Bitcoin exchange(www.btcchina.com) in the past 30 days is 6452.13 BTCs.

Thats one exchange, what other major exchanges are there that serve the chinese/asian market?

finway
Hero Member
*****
Offline Offline

Activity: 714


View Profile
February 29, 2012, 02:51:35 AM
 #12

Not big, because of the regulations.

Think about the Chinese GreatFireWall...

CIYAM
Legendary
*
Offline Offline

Activity: 1820


Ian Knowles - CIYAM Lead Developer


View Profile WWW
February 29, 2012, 03:55:01 AM
 #13

Of course that dreaded wall is a concern but at least so far I have not seen any blocking of the ports nor of the main websites (perhaps this is just because it is too small to be on the radar yet).


With CIYAM anyone can create 100% generated C++ web applications in literally minutes.

GPG Public Key | 1ciyam3htJit1feGa26p2wQ4aw6KFTejU
friedcat
Donator
Legendary
*
Offline Offline

Activity: 848



View Profile
February 29, 2012, 05:39:08 AM
 #14

The volume of Chinese Bitcoin exchange(www.btcchina.com) in the past 30 days is 6452.13 BTCs.

Thats one exchange, what other major exchanges are there that serve the chinese/asian market?

No one could tell the exact contribution to trading volumes in other exchanges. But I briefly
know quite a few serious miners in China. They use either btcchina or mtgox.

friedcat
Donator
Legendary
*
Offline Offline

Activity: 848



View Profile
February 29, 2012, 05:50:20 AM
 #15

With the US deficit not shrinking any time soon, China looks like its going to becoming one of the world's most important economies. How big is bitcoin in China?

The volume pie chart on Bitcoincharts doesnt show CNY, but given that the country has heaps of rich folk now... this cant be right!?

With China having roots in communism and the state wanting to control everything, bitcoin in theory (being both anonymous and decentralized) would be very valuable to them.

In reality, the Chinese government is insanely afraid of the circulation of non-fiat currencies. Fundraising and financial companies in China are also highly regulated. An enterpreneur had just been sentenced to death just because she promised a high interest rate to her loaners(http://en.wikipedia.org/wiki/Wu_Ying). This is why services like Bitcoinica wouldn't exist in China for at least a while.

friedcat
Donator
Legendary
*
Offline Offline

Activity: 848



View Profile
February 29, 2012, 06:01:05 AM
 #16

a search is your friend there, plenty of Ruskie one's if that's any help & just curious if you're Chinese what are you doing with those dreaded 4's in your user name? perhaps you're not or it's some cryptic that I haven't goxed as yet..

Chinese people don't particularly dread 4's. They just don't like to have them in celebrations very much. (I'm a Chinese and I live in China.)

friedcat
Donator
Legendary
*
Offline Offline

Activity: 848



View Profile
February 29, 2012, 06:06:59 AM
 #17

I'd imagine atm bigger in Honk Kong province but look see:

http://www.blockchain.info/nodes-globe?series=48hrs

edit: & as Honk Kong is most likely where Zhoutong will shortly incorporate Bitcoinica we may see a big growth of interest there when it's officially registered as a Ltd. Co./Inc.

Note that Hong Kong is not a province. It's a Special Administrative Region that uses the British-style common law and has a local government of which Beijing only has a limited control. A lot of things that are perfectly fine in Hong Kong are serious crimes in the rest parts of China.

friedcat
Donator
Legendary
*
Offline Offline

Activity: 848



View Profile
February 29, 2012, 06:25:29 AM
 #18

Of course that dreaded wall is a concern but at least so far I have not seen any blocking of the ports nor of the main websites (perhaps this is just because it is too small to be on the radar yet).



Indeed. But I could imagine the furious react of the government when they identify Bitcoin as a threat. They would demonize it in TVs and newspapers most of which are owned by the state. They would randomly centesimate some people for their use of Bitcoin. They would also ban the ports.

But the good part, is that I don't think the Chinese government is capable of launching a 51% attack. At least the probability is very low. They are too inefficient to do such a thing. If the hardware cost of 51% attack is X dollars. They would waste at least 100*X dollars on constructing beautiful buildings for new government employees, organizing banquets for bureaucrats, and bribing a bunch of economists and scientists to justify their deeds in the media.

notme
Legendary
*
Offline Offline

Activity: 1526


View Profile
February 29, 2012, 02:37:20 PM
 #19

With the US deficit not shrinking any time soon, China looks like its going to becoming one of the world's most important economies. How big is bitcoin in China?

The volume pie chart on Bitcoincharts doesnt show CNY, but given that the country has heaps of rich folk now... this cant be right!?

With China having roots in communism and the state wanting to control everything, bitcoin in theory (being both anonymous and decentralized) would be very valuable to them.

In reality, the Chinese government is insanely afraid of the circulation of non-fiat currencies. Fundraising and financial companies in China are also highly regulated. An enterpreneur had just been sentenced to death just because she promised a high interest rate to her loaners(http://en.wikipedia.org/wiki/Wu_Ying). This is why services like Bitcoinica wouldn't exist in China for at least a while.

From the link, it looks like she did more than promise high interest... Half the money was missing by the time they arrested her.  The death penalty is a bit steep, but she was guilty (and plead as such) of more than offering good interest rates.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
12jh3odyAAaR2XedPKZNCR4X4sebuotQzN
finway
Hero Member
*****
Offline Offline

Activity: 714


View Profile
February 29, 2012, 05:05:37 PM
 #20

Not Big.

Pages: [1] 2 3 4 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!