Chinese whispers, Chinese hackers and Chinese goats
Welcome to the CoinDesk Weekly Review 18th October 2013 - a regular look at the hottest, most controversial and thought-provoking events in the world of digital currency through the eyes of skepticism and wonder. Your host ... John Law. That which does not kill me... The law of unintended effects sometimes seems as much a part of the universe as anything Newton or Einstein could cook up. The landing of Apollo 11 on the moon - the triumph of manned space exploration - signalled the start of disillusionment with the whole idea. We haven't been out of Earth orbit since the programme was shut....
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BTC-e has opened up USD/CNH, BTC/CNH, and LTC/CNH markets today. Withlooming PBOC action that would end Chinese Bitcoin exchange's access to domestic bank accounts, Chinese traders are undoubtedly looking for new exchanges to trade on. Along with Chinese RMB (CNH to BTC-e) trading comes RMB deposits, which are handled through an international bank. An international bank means that Chinese traders wishing to convert fiat to crypto through this route will be subject to the Chinese $50,000 annual limit. In fact, people are starting to realize that the PBOC's still shrouded notice to regional....
The weekend's bitcoin unsupported rumour was that China is to support the currency ... allegedly. If you thought parts of the bitcoin community were susceptible to swallowing rumors, this latest incident just took it up a notch. A user on reddit posted a link -- and summary -- of a documentary on bitcoin from CCTV, the Chinese state broadcaster. This, before a translation had even been offered, was taken as tacit support from the Chinese government for the currency. Whodunnit? A more likely explanation came from a reddit user who took the view that cock-up is more likely than conspiracy.....
Read the original Chinese article on btc38 and btckan, a prominent Chinese Bitcoin exchange and website, respectively. BTC China's CEO Bobby Lee has introduced a new method for Bitcoiners in China to "recharge" their RMB balances on Chinese Bitcoin Exchanges: BTC China vouchers. Within a week, Chinese Bitcoin Exchanges led by BTC China, have found a solution for getting RMB deposits into Chinese Bitcoin Exchanges in compliance with ever-changing interpretations of Chinese law. Alternatively, Huobi's CEO has been using his personal bank account to provide RMB liquidity for all of his....
It is the Chinese New Year! January 8, 2016 marked the beginning of a new year according to the Chinese lunar calendar. The celebrations are not confined to Mainland China and other Chinese territories, but across the world with significant Chinese population. According to Chinese Zodiac, each year is signified by an animal and 2016 is the Year of the Monkey. Other eleven zodiac animals include rooster, dog, pig, rat, ox, tiger, rabbit, dragon, snake, horse and goat. Generally, new year festivities goes on for a fortnight with people wishing each other luck, good fortune and prosperity.....
FXBTC posted an announcement to their website earlier today, 5/2/14. The announcement let FXBTC customers know that FXBTC would be shutting down its site on 5/10/14. Users have until 5/10/14 to withdraw their funds from FXBTC. Unfortunately, withdrawals in Fiat at Chinese banks has been closed, at least to FXBTC customers, for over a month now. Furthermore, FXBTC's volume has been down for weeks now, and I highly doubt that there are many more customers with funds stuck there. FXBTC's announcement comes on the heels of Chinese news claiming that the People's Bank of China (PBOC) is....