USA Will Lead China Bitcoin
You are what your liabilities say you are. I had the privilege to meet with a very well respected economist yesterday, and he explained this undeniable fact. You are what your liabilities say you are. What does this mean? Let's take a look under the hood of a global giant, McDonald's. A McDonald's franchise in Spain accepts Euros from customers and pays their supply chain, building costs and labor in Euros. McDonald's is a US domiciled company and reports quarterly earnings in USD and ultimately pays their shareholders in USD. At the moment a customer buys a hamburger in the Madrid,....
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Industry experts have said that China is set to lead the way with the use of blockchain as it reinforces the development of digital intelligent services, reports the South China Morning Post. According to the report, this development is running alongside plans by the country’s telecommunications industry as it works at rolling out 5G mobile services by 2020. Vijay Mayadas, the vice-president of corporate strategy and head of blockchain strategy at Broadridge Financial Solutions, said to the South China Morning Post, that: When 5G, the Internet of Things and autonomous driving start to get....
Bitcoin Priced in USD on Mt. Gox. Above is Gox price as of ~9:30 PM (GMT+2). Still above the previous low, but dipping below the 38.2% retracement level. Note the low volume. What's leading us down? I suspect the trading fees implemented on BTC China, as documented elsewhere on this site. 0.3% fees are still cut-rate by Western standards, but the Chinese may have taken it as a negative sign. I believe that free services are common to China's highly competitive, winner-take-all economy. Bitcoin Priced in CNY on BTC China. And here's Bitcoin price in China; note that volume remains high and....
BTC China Bitcoin Exchange. BTC China is open for business and is offering lower trade commissions starting 24 February 2014. From their website: Starting at 12 noon (China time) on February 24, 2014, BTC China will lower the trading commission fee from 0.3% to 0.1% for all users. For market-makers who place limit orders that add to market liquidity, they will be exempt from the trading commission, and will additionally get a 0.1% market-maker rebate! Sign of Change. In an exclusive interview with CryptocoinsNews two weeks ago, Bobby Lee outlined the positive changes for China based....
Sixty-five years ago, history tells us the great question of American foreign policy was: who lost China? In other words, who was responsible for the "avoidable catastrophe" that drove the Nationalists from the mainland and brought Mao Zedong to power? Today, the question should be: what will China lose, if it attempts to resist global upheavals in finance and technology, culminating in the popularity and acceptance of Bitcoin as the ultimate form of digital, peer-to-peer currency? The answer to that question will have a greater impact on the People's Bank of China (PBC) than its existing....
Financial trouble has been brewing in China for several months now, and traditional stock markets remain very shaky ground for the time being. Keeping in mind how the Chinese economy will affect nearly every other country in the world, things are not looking overly positive right now. By the looks of things, global lenders are not that confident in the Chinese economy anymore, which could lead to further turmoil down the line. China’s Financial Peril is Far From Over. Even though the People’s Bank of China has taken several measures to fight further downfall of the stock market, their....