Quote:
Originally Posted by DWB
Curious to see how this all plays out. I still think they will put the squeeze on the exchangers and the banks they use if it picks up too much mainstream steam. Then again, the Chinese are not allowed to cash out into currency and only use it for digital purchases, and it's booming there, so who knows?
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America & China have classified Bitcoin completely differently!
The Chinese have classified Bitcoin as a commodity and they've stated it can't be used as a currency and The Americans have classified Bitcoin as a currency
In the west Bitcoin may gain more traction as a currency through transactions with sites like Bitpay while in the east it'll be traded as a commodity.
Imagine 6 months ago telling people Bitcoin would reach over $1000 each by the end of 2013, anyone care to make a prediction for the price at the end of 2014?