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This realization is incorrect. The amount of BTC generated globally[1] per day is minuscule compared to CNY/BTC volume[2]. Besides, they're selling the BTC they
by omarchowdhury 9y ago
This realization is incorrect. The amount of BTC generated globally[1] per day is minuscule compared to CNY/BTC volume[2]. Besides, they're selling the BTC they mine for more yuan.
[1] $7M
[2] OKCoin.cn alone does $100M a day on the BTC/CNY pair.
- SeoxyS 9y agoThat CNY traded in China remains stuck in China. Whoever sold the BTC for CNY now has to deal with the restricted currency Presumably most of that BTC/CNY trading is being traded for capital gains, not as a way to try to evade currency controls.