Re: China : The next price bump

Quick news flash.

Average gross income is < $5500 per year. (2010)

All this "new money"? Let's talk smaller.

70% of Chinese are not even really part of the economy, but they count for the average. Those who read Xinhua are part of the economy.

But yeah, you're right. We're not talking about 100K per year.

But there is $ in numbers. If every single person in China invested $1 in BTC

What I was trying to bring across is that 30% of Chinese, that's 300 million, are not so much different from us in their actual income and daily lives.

That's a vast over-estimation. I'd say 30 million would be more accurate. There are about 30 million Chinese with income comparable to US/EU. The vast majority are much lower. New college grads make about $500/month salary in China, and that's considered very good start salary for a college grad.