Any research on "Bitcoin Culture" in China? \ stacker news ~bitcoin

Any research on "Bitcoin Culture" in China?

2046 sats \ 12 comments \ @nullcount 17 Jul 2023 bitcoin

Looking for any research, statistics, personal experiences etc. about how Bitcoin is perceived, used, managed, stored, by the people of China. Could be recent (post mining ban) or old (pre-bitmain).

It seems like bitcoin software development and soft-fork discourse is largely Westernized, while the hardware for ascis (and signing devices and nodes) is largely produced in the East. For years, Chinese 51% FUD was rampant so I have the impression that Bitcoin was/is very popular in China.

What is the enforcement like for Chinese government's ban on bitcoin? Fines, imprisonment, confiscation? Do Chinese people use offshore exchanges or self-custody with DEXs to circumvent the restrictions?

Is HODL a meme in China too? Or is BTC more a tool to evade capital controls?

How might someone memorize their seed if they aren't comfortable with recognizing 12 English words? Is there an alternative BIP39 encoding that's popular in non-english regions?

Any biographies about the bitcoin founders/builders and companies in China?

If its China-Bitcoin-related whatsoever, please share below!

view all related items

571 sats \ 3 replies \ @siggy47 17 Jul 2023

I'm not 100 percent sure this will interest you, but I stumbled upon this podcast episode yesterday. I am pretty ignorant about China, but this guest gave me an incredible lesson about Chinese culture and politics. Bitcoin is discussed, but there's so much valuable information here. The episode is called Bitcoin In China, but, again, it covers a lot of ground. It is truly excellent: https://fountain.fm/episode/JresVMQwpkmsgnmkaoVA

85 sats \ 2 replies \ @nerd2ninja 17 Jul 2023

Dude I'm listening to this and I'm loving it. Explaining China in an honest way the Chinese government would never admit lol, but what I really liked was he said something like he was explaining to tradfi people in Hong Kong, "You have to change to what we're doing, we can not change to work your way" and I was like holy fuck that is fire brother! XD Whew! There are BITCOINERS that need to hear that one.

100 sats \ 0 replies \ @siggy47 17 Jul 2023

"You have to change to what we're doing, we can not change to work your way" and I was like holy fuck that is fire brother! XD Whew! There are BITCOINERS that need to hear that one.

That was my favorite part too.

0 sats \ 0 replies \ @siggy47 17 Jul 2023

I can't tell you how much that episode taught me. I realized how little I knew about Chinese history, culture, and the current climate.

108 sats \ 1 reply \ @nerd2ninja 17 Jul 2023

How might someone memorize their seed if they aren't comfortable with recognizing 12 English words? Is there an alternative BIP39 encoding that's popular in non-english regions?

This one I can answer. https://github.com/bitcoin/bips/blob/master/bip-0039/bip-0039-wordlists.md

You got:

English Japanese Korean Spanish Chinese (Simplified) Chinese (Traditional) French Italian Czech Portuguese

0 sats \ 0 replies \ @l0k18 18 Jul 2023

They literally could add emojis to that list without any problem. The BIP 39 primarily stipulates 2048 symbols and there is at least that many emojis, and most of them are only 2 UTF bytes long. Here is the full UTF8 emoji set as current:

https://unicode.org/emoji/charts/emoji-counts.html

Over 2048 of them.

50 sats \ 0 replies \ @final 17 Jul 2023

deleted by author

53 sats \ 0 replies \ @Coinosphere 17 Jul 2023

Just that they've loved bitcoin for 9+ years now.

20 sats \ 0 replies \ @l0k18 18 Jul 2023

Number one thing to understand about china is their modern, no-holds-barred military theory. The famous text "unlimited war" mostly sums the topic up about just how broadly they consider the realm of potential military actions, deeply into the economics.

They aren't bothered about bitcoin and cryptocurrency use that benefits the state, and like all communist systems, all you have to do as a gangster is pay a sufficient cut to the local Party people and they will look the other way because you are helping mother China become supreme world power.

And there is a similar thing as the "goyim" notion, which is part of all nationalist supremacy ideologies. If you aren't part of the <insert nationality here> team, you are the enemy and there is no immorality in selling you soul destroying submilligram high potency opiates (and double that keeping in mind the Opium Wars).

Identical types of ideologies in virtually every country in the world. Some of them openly praise Mao or Hitler but they are in effect all the same. A part of the story with Russia relates to what amounts to ancestor worship in the Russian nationalist ideology that venerates the great Tsar Peter, who some claim Putin thinks he is the reincarnation of (I doubt it, but I don't doubt he venerates imperial russia).

10 sats \ 0 replies \ @nullcount OP 17 Jul 2023

Chainalysis 2022 report:

Our sub-indexes show that China is especially strong in usage of centralized services, placing second overall for purchasing power-adjusted transaction volume at both the overall and retail levels. This is especially interesting given the Chinese government’s crackdown on cryptocurrency activity, which includes a ban on all cryptocurrency trading announced in September 2021. Our data suggests that the ban has either been ineffective or loosely enforced.

https://bitcoinmagazine.com/markets/china-back-among-top-10-crypto-using-countries

0 sats \ 0 replies \ @nullcount OP 17 Jul 2023

Chainalysis 2023 Report:

China has been home to the largest chemical industry by revenue in the world since 2011. A 2020 Drug Enforcement Administration (DEA) intelligence report cited China as the top producer of fentanyl precursors in 2019. The DEA has noted a pattern of fentanyl production in which precursor chemicals are illegally shipped to Latin America, where they are used to manufacture fentanyl, which is then transported into the U.S. to be sold.

Due to recent law enforcement actions and sanctions, we know that many illicit actors involved in fentanyl-related transactions use cryptocurrency. To analyze these patterns at scale, Chainalysis identified cryptocurrency addresses associated with suspected China-based fentanyl precursor sellers. These addresses have received more than $37.8 million worth of cryptocurrency since 2018. Latin America, North America, Europe, and Asia exhibit a high degree of exposure to these suspected chemical shop addresses.

(WARNING visiting this link will expose your IP address to Chainalysis) https://blog.chainalysis.com/reports/cryptocurrency-fentanyl-analysis-2023/

0 sats \ 0 replies \ @BitTomHan 30 Jul 2023 freebie

Hello! I am the founder of 比特币备忘录 Bitcoin Memo. I have been noting that Chinese need really know what happpened after bitcoin left China especially what happened in the US Senate in legislation about bitcoin. Since bitcoin mining is relatively big industry in some part of the US and it is core to bitcoin, I collected the US Senaters all information about bitcoin and list it in website domain bittom.fun with Notion database view.

Then I started Bitcoin Memo in Twitter or X to show some of the latest daily news about bitcoin in policy/industy/mining/technology in Chinese long thread. Now, I start to know that there should be some information for my readers about what they can get from my conetent. So I would like to investigate about my reader now. I have to let myself know where to find reader's need and my curisity meets.

Some of the knowledge about bitcoin in China has already exists and I know how to answer it. So I do not know what English speaking people want to know about. But you give me very good question examples and I will bring those question to Chinese bitcoinner.

My twitter is @TheBitcoinMemo and @BitTomHan