China's largest three Bitcoin trading platform Bitcoin

November 27, China's largest three bitcoin trading platform Bitcoin China, Okcoin, the exchange of daily trading volume reached 52,931, 36,229 and 28,037 respectively. Given the wildly rising bitcoin price of more than 5000 yuan in the last two weeks, these days the platform has been trading in billions of dollars.

As the emerging virtual currency of the 2009, Bitcoin fell sharply this year, with the shadow of Chinese investors everywhere. As the world's largest bitcoin market, China's "Bitcoin fever" is attracting the world's attention.

Players experience the value of "roller coaster"

Bitcoin is an electronic currency that can be circulated around the world, and anyone can dig, buy, sell or collect Bitcoin. The issuer of the bitcoin is not a country but is generated by a complex algorithm with a specific electronic signature as its identity.

According to the domestic largest trading platform "bitcoin China" record, by November 1, a single Bitcoin transaction price is 1266.5 yuan, since then the price has been slightly increased. Real Madness appeared on November 18, the transaction price rushed to 3227.01 yuan, a day later to 5888 Yuan, the plate once reached 6989 yuan, than the beginning of this year's 82 yuan rose more than 80 times times. Bitcoin fell equally fast, just two days after the November 21 price fell to 4256 yuan. After a few days, ups and downs. Bitcoin players sigh, the heart is not really play this game.

"The rise and fall are the innate nature of Bitcoin, whose demand is driven by investor sentiment because of the imbalance between supply and demand." "Long-term interest in bitcoin, an Liu Yan consulting researcher, told our correspondent that the frantic rise and fall of the recent period was mainly influenced by a few gimmicks, such as the favorable stance of Ben Bernanke, the Fed chairman, on Bitcoin and the enthusiasm of the high price innovation that ignited investors.

"Bitcoin has a very high risk of trading, it doesn't have the same ups and downs as the Chinese stock market, and the deal is open 24 hours." "This is a reminder of the risk of trading on the Bitcoin China website." A bitcoin, which can buy two ipads at peak prices, may become worthless in the blink of an hour.

China becomes bitcoin "home"

Recently, the Digital Money Research Center Genesis Block Statistics, as of the end of October 2013, China has surpassed the United States as the world's largest bitcoin market. According to Liu Yan, this statistic is basically reliable based on the projections of several node data.

According to a website statistics, as of November 27, "Bitcoin China" has ranked the world's largest Bitcoin trading platform, a week's market share reached 33.91%, far beyond the other platforms. Despite the obvious risks, Bitcoin has attracted a huge investment spree since it was well known this year. Only according to the "bitcoin China" site transactions, from July 1, 2011 to November 27 this year more than two years, more than 1.75 million transactions have been recorded.

The "Bitcoin fever" in the Chinese market has attracted international investors ' attention. On November 18, the platform received a round of investment from the speed of light An Zhen China venture capital and the U.S. speed of light venture investment in the international famous Investment organization, with a total financing of $5 million

In Liu Yan's view, the enthusiasm of domestic investors for bitcoin has many factors. The narrow investment channels of Chinese buyers, as well as the psychological wealth of many people overnight, have contributed to the "bit currency hot", "before soybeans, ginger, gold and many other things, are such a short time to fry up."

But Liu Yan also believes that Bitcoin's popularity this year is no coincidence. He said that the domestic media this year on the new things of the extensive coverage, so that investors have a certain understanding of it, at this point of arrival in China, just to meet the domestic market speculative enthusiasm.

The future is still unclear.

Unlike ordinary currency, Bitcoin has no guarantee of the state's main credit. From the standpoint of national regulators on this matter, there is no effective agreement on this currency at present.

On November 20, the deputy governor of the People's Bank of China said at a forum that the legitimacy of bitcoin could not be recognized in the near future from the standpoint of the PBoC. But he also said that as an internet business, ordinary people have the freedom to participate. The day before, Federal Reserve Chairman Ben Bernanke said bitcoin and other virtual currencies "may have a long-term future" and said the Fed had no right to regulate virtual currencies directly.

In August this year, Germany recognized Bitcoin as the unit of account, which could have a clearing function, which, in the opinion of the financial commentator, was tantamount to a bitcoin currency position. In stark contrast to this, Thailand has completely blocked the Bitcoin.

Although the official attitude towards this is not uniform, but in the private sector, the role of Bitcoin as a currency is already in progress. After the Yaan earthquake in Sichuan Province in April this year, Li's charitable organization One foundation announced the acceptance of Bitcoin donations. Recently, more and more domestic and foreign merchants have begun to accept bitcoin payments.

Many experts hold a wait-and-see attitude toward the prospect of Bitcoin. But in Liu Yan's view, no matter how high the bitcoin rose, as long as the gimmick is still there, it is possible to innovate high. "It depends on the level of public opinion." "Liu Yan said.