Quote from: ringsting on December 17, 2013, 05:21:56 AM

The main reasons for buying bitcoin were getting money out of the country and speculation.

Speculation -- dead. which is a good thing.

Getting money out of the country? I suppose you meant getting FIAT money out of the country, i.e.
1) RMB -> BTC
2) BTC -> USD/EUR/etc.

I wonder how many corrupted cadres have been using this way to get their money out of the country, not many, I think.

Even there are many, all they need to do is switching their source of BTC from open exchange to a private sources, which I am sure will flourish because it's profitable.

Quote from: ringsting on December 17, 2013, 05:21:56 AM

but how is that any different from giving the merchant RMB and him giving you USD outside, especially when you consider the volatility risk?

No difference if that merchant has a sufficiently deep pocket, he's essentially a MSB, you know, like an exchange.

Once you get your btc, the volatility risk is the same, it always take 6 confirmations to transfer and sell your booty.