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andy99today at 4:45 PM1 replyview on HN

What does the demand side look like? I understand why people have these tokens they want to sell, who wants to buy them?


Replies

nameloswtoday at 5:04 PM

Chinese. There are large number of Chinese people who are dependent on the Western model because they're still ahead of the game. But they're continuously getting banned and getting super frustrated.

Especially for Claude because Anthropic is very good at identifying mainland Chinese and getting them banned in hours. There are many of them who are willing to pay more than the original rate for a stable experience.

It's very hard for them because they'll need a legit phone number and bank cards that are not issued in China, and a clean enough IP, etc. and those better match together to make sense. (Back in the day, ChatGPT required resident IPs, which made it worse, but they worry about growth more now). Obviously, they have to use a VPN to access the real Internet, and most of the IPs they can find are shared with bots and abusers.