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100 sats \ 0 replies \ @rasputin 21 Jul 2022 freebie \ on: How do we get more Chinese people to Bitcoin? bitcoin
Innocence is debatable. Their (in)actions have led them to where they are today. Ignorance? Yes. Information flows are highly restricted and frankly most people don't care.
How do you propose getting around this? Social platforms are censored, but are paradoxically the way to reach most people. Posting reactionary content could lead to your bank accounts getting frozen or worse, as WeChat is tied to ID. Keyword filtering algorithms could prevent posts from being published at all. Using Tor and VPN is an alternative but is out of the question for most people due to unreliability, cost and inconvenience.
Yes bitcoin is facilitating capital flight by circumventing capital controls. But liquidity is low for no-KYC BTC/CNY exchanges, often with high markups compared to 'market' price. On the other hand, the UX for WeChat and Alipay is unbeatable. Cash has mostly died out and most people favour the convenience of these payment apps. It's near impossible to convince people to abandon convenience once they have gotten used to it. Even if the price is surveillance, it seems.
I believe the group of Chinese people most likely to adopt bitcoin is the educated (upper) middle-class intelligentsia, who are most likely to have some proficiency in economics and technology as well as capital to protect. There is also a large overseas Chinese population with ties back to the mainland. For example students. If you know people in these subgroups then invite them to your meet ups and orange pill them.