Interview With BTC China Founder

From Walmart To Bitcoin: The CEO Behind The Chinese Exchange Sending BTC To New Highs
Lee says there aren’t many use cases for Bitcoin in China beyond investment and speculation. “China is lagging behind in terms of use cases for businesses, unlike the U.S. and the Western world,” says Lee. “We recognize that and it’s ok. When China’s ready, we’ll be there to serve that market.”

But he also says that Bitcoin businesses are not running into the same regulatory and banking problems businesses are in the U.S. He says Bitcoin is a “gray area” legally in China, but that the government and banks are less afraid of gray area businesses than those in the U.S. are.

“The law has not caught up with technology,” says Lee “I want China to reevaluate its laws so we can classify Bitcoin as something so government can regulate it.”

“We want to build a company that will last 100 years,” continues Lee. “When I went to Stanford I knew Internet was here to stay. And Bitcoin is same. The Internet was hard to use at first. Computers didn’t have browsers in the early 90s. You had to know FTP and Telnet. The AOLs, Googles and Yahoos made the Internet usable. We want to be that, to make Bitcoin more usable.”
I previously have advised people to buy what China buys. Property prices in many overseas cities have run up due to Chinese buying. Chinese buyers helped send gold to its highs, and now they are sending Bitcoin ever higher. One doesn't want to be caught when the Chinese herd moves on to a new area, but it's profitable while it lasts.

This chart shows that Bitcoin hasn't reached the peak search interest it saw back in April, though interest spiked ahead of this rally.

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