Hong Kong business students says bitcoin is too risky: "Better to gamble in Macau"
After the "horrendous" Bitcoin crash (that bounced right back up) some junior investors that joined a trading competition in Hong Kong says that Bitcoin is too risky and that investors should not include Bitcoin in their portfolio. The students themselves will not invest in Bitcoin because of the uncertainties regarding its future. And we agree that the future to Bitcoin is uncertain and that a lot depends on what the big nations will do with the current unregulated cryptocurrency market. (Personally I have much stronger beliefs in Bitcoin and cryptocurrencies than the junior business....
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The Lunlun Zou Guzheng Studio in Hong Kong put out a press release today noting they are the first Hong Kong business to accept the digital currency, which can be used to purchase Guzheng lessons. The Guzheng is a 2,000-year-old Chinese instrument with 21 strings, and teacher Lulun Zou (who has performed around the world) is hopeful that accepting Bitcoin will make it easier for students to learn how to play Guzheng. "We represent a very old tradition but it does not mean we cannot use the most modern technology. We intend to use whatever legal means is available to us to spread the word....
Last Friday, on 6/20/14, a jewelry store in the Sands Macao world-class hotel lit up with the virtually iridescent glow of cryptographic splendor. Jase Leung, Bitcoinnect's CEO, together with Matthew Ventura, a Macau entrepreneur, have established a Bitcoin vending kiosk accessible to the myriad of tourists that frequent the international gambling hub of the world. Bitcoinnect is the trademark under the company Harbour Technology Limited (no relation to Harbour Rich Technology Limited) which is the exclusive distributor of California's Genesis1 Bitcoin vending kiosks in the Hong Kong and....
Residents of Macau now have access to a brand-spanking-new bitcoin vending machine by Genesis Coin of California brought into the region by Bitcoinnect, who will serve as the exclusive distributor of Genesis1 bitcoin vending kiosks in the Macau/Hong Kong area. The first installation, which took place on Friday, opened in a jewelry store at the Sands Macau, a world-class, highly-related hotel in the area. The Genesis1 kiosk has a high bank note capacity to deal with high demand. It's capable of accepting 2,200 bank notes and dispensing 6,800 in a go. Transactions using the machine typically....
Luis Buenaventura is head of product at Satoshi Citadel Industries, the parent company of Rebit.ph, a Philippine bitcoin-based remittance service. The sister cities of Hong Kong and Macau currently house more than 200,000 migrant Filipinos between them. The breakdown is fairly homogenous in terms of occupation: the largest group consists of 160,000 Filipinas working on Foreign Domestic Helper visas on the Hong Kong side, with a little under 17,000 on the Macau side. Together, the two groups transferred over $380m back to their families in the Philippines in 2013, amounting to between 30%....
HK$17B has been pledged by the financial secretary of Hong Kong to begin building the key infrastructure necessary to support a thriving Fintech and tech center in the city. In particular, John Tsang Chun-wah in a statement focused on fintech as an area or exploration and interest for Hong Kong. The interest in fintech completely makes sense within the greater context of Hong Kong’s positioning within global finance. And of course, there was a major focus on the potentially ubiquitous solutions within blockchain and cryptos. In last year’s budget meetings, the Steering Group on Financial....