Quote from: MatTheCat on November 19, 2013, 09:59:13 PM

Quote from: Nemesis on November 19, 2013, 05:15:20 PM

Just another theory of mine:

Chinese buying BTC to transfer money/wealth oversea. Guess where do they dump their coins?

Well I'll be damned....

An actual 'theory' on this place that isn't totally cacked brained and actually makes some sense.

You had better watch, you will get the 'Face Palm', 'Double Face Palm', and tha 'not even worthy of a Face Palm' brigade on your back if you keep on like this.

And of course, the arbitrage can't work in the opposite direction due to the Chinese Renmimbi largely being a locked down currency.

quite valid too. Government requires Chinese citizens to pay X amount if leaving the country for good. I think its something like 300K Yuan. This could be a way to transfer the rest of it without giving it to their government (although still taking quite a hit due to fees)

Idea for an interesting chart: Bitcoin volume vs Chinese immigration