By continuing you agree to eChinacities's Privacy Policy .
Sign up with Google Sign up with FacebookQ: Why are Chinese want to invest in Bitcoins?
if true, is crazy.
10 years 21 weeks ago in General - Other cities
BitCoin hides your money from the Chinese government. Many richer people invest in things like art, gold bars etc because the memory of the cultural revolution means they fear they can one day have all valuables taken away from them. BitCoins will remain (until the hoaxters behind bitcoin chose to cash in of course, but the CCP can hardly get the blame for that)
Because they crave for freedom, don't believe in the system and are willing to trust a free currency that's not easy to manipulate by central banks, out of pure conviction and high principles.
Nah, kidding, it's for tax evasion and because their control freak of a government won't let them brainlessly speculate on real estate.
Because people want to earn profits through buying low and selling high?
It is a bad day for Bitcoin investors. This news made the rate drop http://www.reuters.com/article/2013/12/05/china-bitcoin-idUSL4N0JK1KZ20131205
when bit coin first came out, i didnt know what to think of it. then things started looking real bad. i think a mayor in the west had started to get paid in bit coins, and now obviously shills are portraying it in a positive light. i didnt have an opinion about it before, but now i think it's a bad idea. thanks for clearing it up. since China controls the flow of hot money, maybe western regimes will try to use bit coins to circumvent that
Scandinavian:
"You" and "facts" are not good friends I see
http://www.foxnews.com/us/2013/12/05/struggling-kentucky-coal-town-looks-to-bitcoin-to-spur-economy/
So the story goes. The mayor and the police chief donated their salary to a bitcoin account to help the local community. .
You can track the Chinese BitCoin investment here http://fiatleak.com/
A rather slow day so far. Had it open 10 mins and no CNY has be turned into BitCoin yet.