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Author Topic: How big is Bitcoin's presence in China?  (Read 6565 times)
Otoh
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March 18, 2012, 11:13:37 AM
 #61

Many normal Chinese people play with the stock market.  I tell some that what they do is too risky but they do it anyway.  It is basically gambling, but if they knew they could do the same thing with bitcoins....

like Bitlotto where 99% of the funds bet are returned as a jackpot prize to the winner, last one was > 100 coins

https://bitcointalk.org/index.php?topic=34007.0;all

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John (John K.)
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March 18, 2012, 11:17:49 AM
 #62

Eurofag here, was a small time miner (+/- 4Ghash/s), but quit.
I'm flying to Beijing in few weeks for few months to write my master's thesis on civil liberties on the Web in China. A section shall have crypto-currency as subject, focusing on Bitcoin.

In a previous post was mentionned the fact that western uses are not present in China. Vastly used, cash provides same anonymity as Bitcoin does. What could be the main reasons Chinese would use Bitcoin ?

What'd be the threshold for the PRC Government to intervene on the Bitcoin subject ?



p.s. as poor student, also looking to make extra $$, any tips on getting advantages on my travel ? (import goods ? btc wallet on usb ?!  Wink )


Chinese would use Bitcoin as an investment opportunity, they would also use it to pay for some internet services that are illegal in China.

The Bitcoin subject is far too negligible for the PRC Government. Running exchanges might violate the current laws, but the Bitcoin network as a whole will not be an attacking target of the government in at least several years.

answer to your p.s.: I could give you some general advice. Cameras, pads, and laptops are considerably more expensive in China, because of the tariff and VAT. You could take some of them and sell. Perfume, cosmetics and jewelry are also profitable. Finding enough buyers is not easy though. On the other hand, pirate books, DVDs and software are everywhere in China and they are nearly free. You could carry some back to your country if you are not morally against it and ready to take the risk when passing the customs. I suggest you to enter China via Shanghai or Beijing. The probability of getting your luggage checked in southern China cities is much higher.

Sometimes when I fly to China I take a bag full of ipads, gucci purses, ect.  That pays for my flight itself.

Many normal Chinese people play with the stock market.  I tell some that what they do is too risky but they do it anyway.  It is basically gambling, but if they knew they could do the same thing with bitcoins....

You mean those Hong Kong people. They're crazy about the forex and stock market.

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March 18, 2012, 11:20:42 AM
 #63

Eurofag here, was a small time miner (+/- 4Ghash/s), but quit.
I'm flying to Beijing in few weeks for few months to write my master's thesis on civil liberties on the Web in China. A section shall have crypto-currency as subject, focusing on Bitcoin.

In a previous post was mentionned the fact that western uses are not present in China. Vastly used, cash provides same anonymity as Bitcoin does. What could be the main reasons Chinese would use Bitcoin ?

What'd be the threshold for the PRC Government to intervene on the Bitcoin subject ?



p.s. as poor student, also looking to make extra $$, any tips on getting advantages on my travel ? (import goods ? btc wallet on usb ?!  Wink )


Chinese would use Bitcoin as an investment opportunity, they would also use it to pay for some internet services that are illegal in China.

The Bitcoin subject is far too negligible for the PRC Government. Running exchanges might violate the current laws, but the Bitcoin network as a whole will not be an attacking target of the government in at least several years.

answer to your p.s.: I could give you some general advice. Cameras, pads, and laptops are considerably more expensive in China, because of the tariff and VAT. You could take some of them and sell. Perfume, cosmetics and jewelry are also profitable. Finding enough buyers is not easy though. On the other hand, pirate books, DVDs and software are everywhere in China and they are nearly free. You could carry some back to your country if you are not morally against it and ready to take the risk when passing the customs. I suggest you to enter China via Shanghai or Beijing. The probability of getting your luggage checked in southern China cities is much higher.

Sometimes when I fly to China I take a bag full of ipads, gucci purses, ect.  That pays for my flight itself.

Many normal Chinese people play with the stock market.  I tell some that what they do is too risky but they do it anyway.  It is basically gambling, but if they knew they could do the same thing with bitcoins....

You mean those Hong Kong people. They're crazy about the forex and stock market.

No Chinese.  I have been in small villages outside of Qingdao and people are on their computer screaming as the price goes up or down.

Introducing constraints to the economy only serves to limit what can be economical.
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March 18, 2012, 12:12:21 PM
 #64

Yikes, seems that globalization has really done its part there.

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nibor
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March 19, 2012, 09:43:27 PM
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362 at the moment..
http://bitcoinstatus.rowit.co.uk/countryHosts.html

Note that is was 2500 in week 39 of last year.
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March 20, 2012, 12:25:46 AM
 #66

362 at the moment..
http://bitcoinstatus.rowit.co.uk/countryHosts.html

Note that is was 2500 in week 39 of last year.

Servers outside of China might have a difficult time getting a full picture of the network in those scripts, I'd be interested in seeing some kind of network analysis from within China as they would be behind the firewall then.

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April 11, 2012, 03:12:42 AM
 #67

Following the article on Reuters, I'm curious. How did Zhoutong hear about bitcoin and start following it if the following for it is so small in China? To follow a global trend that is small in your own country requires a great ability to see things from an outside perspective.

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April 11, 2012, 03:32:34 AM
 #68

Isn't/wasn't he a 17 year old Singapore student?

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rapeghost
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April 11, 2012, 07:23:20 AM
 #69

BitVPS has multiple Chinese clients who all pay with Bitcoin.

I'm not sure what this means in grand scheme of things. Being a specialized service provider accepting Bitcoin; it would stand to reason that there's more than a few people in China who like/know about Bitcoin.
lonelyminer (Peter Šurda)
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April 11, 2012, 08:11:13 AM
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Isn't/wasn't he a 17 year old Singapore student?
I read somewhere that he's from China and only is/was studying in Singapore.
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April 11, 2012, 09:14:28 AM
 #71

I read somewhere that he's from China and only is/was studying in Singapore.

Aha - be interesting to know if he'd heard about it before he started studying there then.

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

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