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by wmf 4594 days ago
Given that demand started from near zero in China, tenfold growth after legalization of Bitcoin doesn't surprise me at all. The movement in the BTC-USD market looks like arbitrage catching up to the Chinese activity.
1 comments

The Chinese are gambling.

In Hong Kong, they gamble more money on horse racing in a single day, than the UK does in a whole year.

In Macau, single card draw is popular, for an instant adrenaline rush, nobody wants to sit around a poker table all day to win what you can win in a few minutes.

Bitcoin is no different.