Bitcoin blowing up in China

On Friday China Network Television aired a 25 minute report on bitcoin in China. This report included topics such as buying, mining, trading, buying and the price. There’s a point of sale transaction and even an American who explains how it’s easier to get US dollars in his account with bitcoin then with the traditional financial system.

After this exposure there has been a spike in search volume at the popular Chinese search engine Baidu. Reaching a level of over double the previous maximum. China now is the country with the most downloads of the bitcoin client in the past week.  The full effect will not be felt until Monday or Wednesday of next week as the traditional banking system is slower to react. Bitcoin is currently trading at 720 Chinese Yuan about the equivalent of US$117 at BTC China. This is compared to the price of $112 at MtGox.

 

12 thoughts on “Bitcoin blowing up in China

  1. Hi there! I know this is kinda off topic however I’d figured I’d ask.
    Would you be interested in trading links or maybe
    guest writing a blog article or vice-versa? My site covers a lot of
    the same topics as yours and I think we could greatly benefit from each other.
    If you are interested feel free to shoot me an e-mail.
    I look forward to hearing from you! Awesome blog by the way!

  2. Howdy, There’s no doubt that your blog could be having web browser compatibility problems. When I take a look at your site in Safari, it looks fine however, if opening in I.E., it has some overlapping issues. I just wanted to give you a quick heads up! Apart from that, fantastic blog!

  3. I found your weblog web site on google and test a couple of of your early posts. Proceed to keep up the very good operate. I just further up your RSS feed to my MSN Information Reader. In search of forward to studying more from you later on!?

Leave a Reply

Your email address will not be published. Required fields are marked *