Do You Know Where Your Chinese Bitcoins Are?

bitcoin_featureIt is 9:45 PM EST on Thanksgiving. People in the United States are buying Bitcoins ( at $1200 and up. The strange thing is that in the past ten minutes, China has not bought any Bitcoins.

Update 10:20 PM. China is back: $500,000 Bitcoins purchased in under five minutes.

David DeGerolamo

Bitcoin, you have a China problem

By all metrics and accounts, bitcoin’s popularity is exploding across the People’s Republic of China. It now boasts the world’s most active bitcoin exchange, BTC China, the greatest number of bitcoin mining nodes, the highestnumber of bitcoin wallet downloads, and set the record for the highest price ever paid for a bitcoin (7,000 yuan or approximately $1,120 on November 19) while trading at just $900 on Mt. Gox. A map of global bitcoin trading activity further illustrates China’s dominance.


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