Originally Posted by rpgman1
This is insane. How come China comes out with such absurd prices for BTC? It's strange that gold is lower while BTC just keeps growing.
cuz there's over a billion people ?
How much is a GPU in China, anyway ?Why are people in China suddenly interested in Bitcoin?
Edited by dogbiscuit - 11/18/13 at 5:22pm
“China has been known as a nation of savers, who are always saving for a rainy day,” says Lee. ”Bitcoin is a digital asset, like real estate, gold, or stock. It is just one more option now. With Bitcoin hard-coded to be limited, it’s like a collectible.”
But he also says that Bitcoin businesses are not running into the same regulatory and banking problems businesses are in the U.S. He says Bitcoin is a “gray area” legally in China, but that the government and banks are less afraid of gray area businesses than those in the U.S. are.