BitShares Forum

Main => General Discussion => Topic started by: CWEvans on April 02, 2014, 11:24:40 pm

Title: China: BitCNY, BitEUR, BitUSD
Post by: CWEvans on April 02, 2014, 11:24:40 pm

It is hard to tell what the real story is in China, but it looks like there might be a gaping maw of demand for BitCNY, BitEUR, and BitUSD there.

"OKCoin, FXBTC, and BTC38 Announce the End of Chinese Yuan Deposits Starting April 3, 2014"

http://www.cryptocoinsnews.com/news/okcoin-fxbtc-btc38-announce-end-chinese-yuan-deposits-starting-april-3-2014/2014/04/02 (http://www.cryptocoinsnews.com/news/okcoin-fxbtc-btc38-announce-end-chinese-yuan-deposits-starting-april-3-2014/2014/04/02)

Of course, the question still remains how someone in China will be able to acquire BitCNY.

I will keep my eye open for responses on this thread from our Chinese colleagues.

Title: Re: China: BitCNY, BitEUR, BitUSD
Post by: etherbroker on April 03, 2014, 06:56:27 am

Is it possible that a low wage earner in China could bypass government currency completely by working directly for digital currencies?

Problem is that food and all other goods would have to be delivered to him/her by someone that will buy those currencies. 

 :-[ :-\

Title: Re: China: BitCNY, BitEUR, BitUSD
Post by: HackFisher on April 03, 2014, 01:58:15 pm

Don't worry, guys. Bank transfer still works for OKCoin and other exchanges. 4.15 is key time point,  it's rumored that is the deadline.

It's interesting that there are so many exchanges in China, even YUAN deposit is end in mainland, we still have HongKong.

Title: Re: China: BitCNY, BitEUR, BitUSD
Post by: JoeyD on April 03, 2014, 04:26:40 pm

I'm wondering how big cryptocurrency/equity is in China really.

From what I've seen interest in for example my country "Holland" is huge, compared to the current state of development. If interest in China would be a fraction of what it is over here, I'd expect the price of bitcoin for example to be many times it's current one. (because of the somewhat differing number of inhabitants)

Title: Re: China: BitCNY, BitEUR, BitUSD
Post by: HackFisher on April 14, 2014, 09:58:42 am

Some exchanges in China are developing deposit agents to replace direct bank transfer, and some are going to move business to HongKong or Overseas.

Title: Re: China: BitCNY, BitEUR, BitUSD
Post by: Stan on April 14, 2014, 01:54:26 pm

Quote from: HackFisher on April 14, 2014, 09:58:42 am

Some exchanges in China are developing deposit agents to replace direct bank transfer, and some are going to move business to HongKong or Overseas.

"The more you tighten your grip, the more star systems will slip through your fingers"

http://www.youtube.com/watch?v=-wntX-a3jSY (http://www.youtube.com/watch?v=-wntX-a3jSY)

Title: Re: China: BitCNY, BitEUR, BitUSD
Post by: CWEvans on April 15, 2014, 04:12:23 pm

...annnd... It's not gone.

 ;)