Bitcoins are really starting to get popular in China, with more demand every day. Take a look at btcchina.com (CNY), a Bitcoin exchange with 12,222.55 BTC volume in the past 24 hours. This makes BTCChina the third highest volume exchange, after Bitstamp with 16,720.24 and Mtgox at 16,244.69 BTC/24 hours. Currently, China takes up 12% of the exchange volumes globally. As of 2012, China has a population of 1.351 billion people, which allows plenty of room for more interest in Bitcoin.

Baidu, a Chinese search engine very similar to Google, has also begun accepting Bitcoins as payments for it’s Jiasule services including a cloud-based anti DDOS, very much like CloudFlare. The announcement was made HERE and has been translated below:

Baidu Jiasule Accepts Bitcoin Payment How can we reflect the characteristics of a trendy IT person and a professional webmaster? The answer, of course, is to own bitcoins!!! Bitcoin is a new kind of electronic currency, a digital transfer medium, which has already received a high degree of international recognition, and has already reached into our daily lives. It can be used to buy a cup of coffee, or exchanged for gold and silver. In China, bitcoin is considered quite “trendy”. Today, I have good news for everyone: from 14 October 2013 onwards, Baidu Jiasule will officially support bitcoin payments. Baidu Jiasule users can use bitcoin to pay for any Jiasule services. Baidu Jiasule, as the innovator of the Internet, has become the first cloud services vendor to support bitcoin, giving us richer payment methods and experience. In the future, Baidu Jiasule will continue to try more new things, giving everyone more convenient payment options.

In 2013, there was 254,563 Bitcoin client downloads from China, surpassed only by the United States with 503,819 downloads. Even though Bitcoin cannot be controlled by any government, most major services are all Chinese companies, such as Baidu replacing Google, Alipay for PayPal, and Taobao in place of eBay. This allows the Chinese government to act and control these companies, such as block Bitcoins, in the event Bitcoin ever becomes illegal in China.

Bitcoin has already been banned in Thailand, and with Thailand being a long time ally of China, there is some pressure. Only about 52.7 percent of people in China have access to internet, with 94% of views on only websites hosted in China. This would also make it easy for the Chinese government to censor and prevent their people from accessing any website related to Bitcoins, or cryptocurrency in general. How far do you think Bitcoins will grow in China?

Tip The Author

Did you like this article? Why not send a tip to the author as a thank you?

BTC: 1LwtbfWBt9DJYDJWMRzTptrnUxrkA7f3Vz

LTC: LMaAmsEaxZrqQG6xFyDrg6BQYcv71cbaeH