BTC38:We will enable bitcny deposit over the next few days.

[Ander]

I'd like to know that answer to this as well, why is BitCNY rising in market cap? Maybe I should be investing in some BitCNY :)

bitCNY rises in market cap when more of it is created.  (It is created when someone with BTS shorts it into existance, tying up their BTS as collateral in order to create it).  Then they sell the bitCNY to a buyer.

[btswildpig]

I'd like to know that answer to this as well, why is BitCNY rising in market cap? Maybe I should be investing in some BitCNY :)

because supply is rising through demand ? The price is still= 1CNY ,but supply increases

[arhag]

I'd like to know that answer to this as well, why is BitCNY rising in market cap? Maybe I should be investing in some BitCNY :)

Market cap of BitAssets is irrelevant from an investment point of view (investment in the BitAsset that is). As long as the peg works (and it is working) 1 BitCNY will always approximately equal 1 CNY, and the value of CNY has not been rising by much relative to USD over the long-term (assuming you are thinking about your investments in dollars).

But you get yield, right?  It's a conservative investment.  ;)

Sure, you get yield. But the yield you get has no correlation to the market cap. The implication of bluebit's post was that rising market cap means good investment, and I was just pointing out how that is not the case with BitAssets.

[blahblah7up]

I'd like to know that answer to this as well, why is BitCNY rising in market cap? Maybe I should be investing in some BitCNY :)

Market cap of BitAssets is irrelevant from an investment point of view (investment in the BitAsset that is). As long as the peg works (and it is working) 1 BitCNY will always approximately equal 1 CNY, and the value of CNY has not been rising by much relative to USD over the long-term (assuming you are thinking about your investments in dollars).

But you get yield, right?  It's a conservative investment.  ;)

[arhag]

I'd like to know that answer to this as well, why is BitCNY rising in market cap? Maybe I should be investing in some BitCNY :)

Market cap of BitAssets is irrelevant from an investment point of view (investment in the BitAsset that is). As long as the peg works (and it is working) 1 BitCNY will always approximately equal 1 CNY, and the value of CNY has not been rising by much relative to USD over the long-term (assuming you are thinking about your investments in dollars).

[bluebit]

I'd like to know that answer to this as well, why is BitCNY rising in market cap? Maybe I should be investing in some BitCNY :)

[teenagecheese]

Interesting, bitCNY's market cap has been steadily on the rise while bitUSD has been dropping. What do you think the reasons for this are?

I can guess:
1. The 1:1 bitCNY to CNY exchange rate
2. Better marketing in China (from what I hear)
3. More demand to have a secure digital currency in China due to the economic conditions and financial laws there.

Any other reasons? Any ways we can get this going for bitUSD

[vlight]

So, BitCNY is currently #85 on Coinmarketcap and is silently overtaking the crypto world.  ;)

[Mysto]

Great great work guys.  :-*

http://www.tradebts.com/

As a american I would be more then happy to use bitCNY and the above site if a English version can also be done.

Please do this^^^

[Mysto]

BTC38 will enable bitcny deposit at next few days.

When you deposit bitcny to us, you'll get CNY in your balance.
1000bitcny = 1005 cny

At the start time. each user can only deposit less than 5,000bitcny. total limit is 100,000bitcny at one day.

BTS/CNY: http://www.btc38.com/trade_en.html?btc38_trade_coin_name=bts

WOW  +5% +5% +5% +5% +5% +5%

[Shentist]

yeah, great news on this side, but got crushed from the update desaster.

[yellowecho]

Whoa, fantastic news!!  +5%

[mitao]

Best marketing effort in the past year!


Sent from my iPhone using Tapatalk

[Gentso1]

Great great work guys.  :-*

http://www.tradebts.com/

As a american I would be more then happy to use bitCNY and the above site if a English version can also be done.

[天籁]

The fiat fiat gateway! Fantastic work :)

How are they going from bitCNY -> CNY, or do they hold bitCNY?

Forum member @gulu launched a bitcny<-->cny gateway allowing 1:1 exchanges two weeks ago (with no fees at this moment).

Everyday btc38 sends bitcny via blockchain to gulu who then sends back btc38 the cny via banks. Probably btc38 won't hold bitcny unless they also want to launch a gateway.

You can find gulu's site here (now only available in Chinese): http://www.tradebts.com/

Thank you, gulu and btc38.

:P +5%

[muse-umum]

The fiat fiat gateway! Fantastic work :)

How are they going from bitCNY -> CNY, or do they hold bitCNY?

Forum member @gulu launched a bitcny<-->cny gateway allowing 1:1 exchanges two weeks ago (with no fees at this moment).

Everyday btc38 sends bitcny via blockchain to gulu who then sends back btc38 the cny via banks. Probably btc38 won't hold bitcny unless they also want to launch a gateway.

You can find gulu's site here (now only available in Chinese): http://www.tradebts.com/

Thank you, gulu and btc38.

[Empirical1.1]

 +5%  +5% Great work guys, thanks BTC38 and Chinese marketing team for this good work!

[matt608]

 +5%

[Frodo]

1000bitcny = 1005 cny

Wow, is this correct? Not the other way around?  :o

haha , they charge 1% extra for withdraw fiat CNY and other cryptos ..so ....

Well, fair enough.
I always thought that 1% thing was only for BTS. (like on BTER)

[cn-members]

1000bitcny = 1005 cny

Wow, is this correct? Not the other way around?  :o

haha , they charge 1% extra for withdraw fiat CNY and other cryptos ..so ....

[monsterer]

The fiat fiat gateway! Fantastic work :)

How are they going from bitCNY -> CNY, or do they hold bitCNY?

[Frodo]

1000bitcny = 1005 cny

Wow, is this correct? Not the other way around?  :o

[joele]

Wow, bitCNY is now liquid. +5%

[eagleeye]

Wow +5% +5%

[btswildpig]

Great news!

Will we also be able to withdraw CNY balances as BitCNY or is this for depositing BitCNY only?

Deposit BitCNY only for now .

[Markus]

Great news!

Will we also be able to withdraw CNY balances as BitCNY or is this for depositing BitCNY only?

[dkhahm]

 +5% +5% +5%

[clayop]

 +5%

[dexinwong]

COOL... +5% +5%

[CryptoPrometheus]

Excellent! You guys are the first exchange to recognize the legitimacy of bitassets and literally stake your money on it. We are honored by your participation!

[gamey]

We need to make sure to give btc38 as much support as we possibly can.  It is a nice site even though it relies on Facebook login for American side.

I wish btc38 would make their English login easier to find.  Perhaps a little American flag would do the trick. 

http://www.btc38.com/trade_en.html

[btswildpig]

foreign customer can also buy BitCNY with BTS in the wallet's inner-market then fund your BTC38 CNY balance with BitCNY to trade all kinds of crypto products at BTC38 with better liquidity from the CNY trading pairs .

of course you can also buy BitCNY from someone willing to sell it to you
But at this point you can't with BitCNY or BitUSD from BTC38 directly .

[Overthetop]

 +5% +5% +5%

Another big step of the BTS Ecosystem!

[Ander]

+100000%

[Riverhead]

 +5% +5% +5% +5% +5% +5%

[Btc38]

BTC38 will enable bitcny deposit at next few days.

When you deposit bitcny to us, you'll get CNY in your balance.
1000bitcny = 1005 cny

At the start time. each user can only deposit less than 5,000bitcny. total limit is 100,000bitcny at one day.

BTS/CNY: http://www.btc38.com/trade_en.html?btc38_trade_coin_name=bts