Quote from: alyssa85 on September 13, 2017, 04:21:25 PM

Quote from: wrfitz on September 13, 2017, 03:33:50 PM

The reason why people in china have so much bitcoin is because they hate their own currency and how its controlled. If I lived in china, and government shut down the exchanges it would make me want bitcoin even more than ever because its actually hurt the government enough for them to bring in regulation or bans. It also makes it a rarer commodity since you wouldn't be able to get it very easily in china.

I suppose the panic here though is if china are banning it, then where will ban it next? It would be a massive shame for bitcoin to be shutdown by the very establishment that it was created to defend against. The thing thats cool is, at least we have their attention now Wink

As for me, I wont selling any of my bitcoin!

The problem with that is, say you were Chinese and had bitcoin. You now can't trade it on Chinese exchanges for yuan, once they have been closed in three months time. And thanks to the Great Firewall you can't access the western exchanges and sell for dollars (and in any case can't open a western bank account to pay those dollars into). And you are scared that your govt will prosecute anyone caught with bitcoin.

You have two choices - sell now while you can (and the price on the chinese exchanges is lower than on the western exchanges, indicating this is what people are doing). Choice #2 is to hold and take a trip to Macau and sell the bitcoins in person to someone from local bitcoins, to cash out later. Most seem to be doing the former.

what if.... there are tons of chinese shops here, like 4-5 for every average town and they're once a year going to China and I've seen them video chatting with their family or friends. So, can we maybe use them to get to other people that might hold bitcoin, to use them as a wallet transport and us here as an exchange? i mean, they can surely send a wallet address like that with no problem.