USA government debt ceiling

[Mirimir]

On 10/20/2015 09:48 PM, Juan wrote:
> On Tue, 20 Oct 2015 19:32:46 -0600
> Mirimir <mirimir at riseup.net> wrote:
> 
>> On 10/20/2015 04:29 PM, Juan wrote:
>>> On Tue, 20 Oct 2015 17:38:39 -0400
>>> grarpamp <grarpamp at gmail.com> wrote:
>>>
>>>> On Wed, Oct 14, 2015 at 10:41 AM, Cari Machet
>>>> <carimachet at gmail.com> wrote:
>>>>> Presently the chinese see the futility of the system and are
>>>>> shifting i cant remember into what exactly
>>>>
>>>> Bitcoin. 
>>>
>>> 	And your source is? 
> 
>>
>> 2015-10-20: https://www.bitcoincharts.com/charts/volumepie/
> 
> 
> 	Thanks. I wasn't aware that ~70% of btc trades are denominated
> 	in chinese fiat. Assuming the data is correct (which seems to
> 	be debated)

De nada :) As I recall, it's also true for IPs, but I didn't find a
source. One could sumif the blockchain data by IP, and then get country
from MaxMind etc. There aren't too many Tor or VPN exits in China.

> 	Anyway, the original discussion was about the US and chinese
> 	governments manipulating their own monopoly tickets.

Right. I was taking "the chinese" more as the Chinese people. Or
whoever's buying Bitcoin, anyway. But regarding the thread overall, I do
believe that the Chinese government is divesting US bonds. They don't
want to fuck up the US economy by doing that quickly. But they also
don't want their investments to be devalued as the US prints money, ever
faster and faster.

> 	The chinese government isn't moving away from fiat although
> 	there seems to be rumours of them linking the yuan to gold
> 	somehow. 

Long term, as I understand it, they plan for yuan to replace dollar as
global fiat. They do own lots of gold, but I don't recall anything about
going gold standard. If you have cites, that would be cool.

> 	As to common people in china, maybe they are buying more
> 	bitcoins (and gold?), but the amount of fiat that's been turned
> 	into btc isn't exactly big, I would guess. So, saying that the
> 	chinese are shifting into bitcoin seems overly optimistic.

It's my impression that Chinese people are generally very into saving.
But judging by the stock craziness, they aren't very sane about what
they invest in. Gold has always been popular. Bitcoins were a fad for a
while, but that's cooled off since the Mt Gox bubble collapsed in early
2014. The current ~70% share maybe just reflects population.