Is the Chinese Yuan Really Driving Bitcoin Up?

in #china • 8 years ago

Speculations hold that Yuan devaluations are pushing Bitcoin’s price up. But we doubt this somewhat simplistic supply-and-demand scheme. Bity.com's developer Weipin shared thoughts on that matter with the team, and we decided to publish those as they reflect an insider's view on complex issues and critically frame the debate.

Read the whole here; comments more than welcome :-)

#bitcoin #yuan #opinion
8 years ago in #china by
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     8 years ago 

    Upvoted you

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     8 years ago 

    Absolutely. Look at the Chinese billionaires desperately trying to find ways to get their money out of China. For a time, and quite often, BTC is more highly valued in China for that very reason. People are buying up and selling elsewhere.

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       8 years ago 

      Well, the article I shared holds a much more nuanced view and is far from claiming such a certainty :) Give it a read!