Big Spike in Bitcoin Interest on Chinese Internet

Recent reports from China indicate there may be more to the Bitcoin ban than meets the eye. According to the Financial Times (FT) the Chinese banking system is in crisis which could explain the Bitcoin ban in China. Chinese citizens seem to be running away from their own banking system in droves and their Government is closing the escape paths - including Bitcoin. During the run up of bitcoin in November you could watch the CNY currency leaking from China on sites like www.fiatleak.org and there was a breathtaking amount of Chinese currency leaking into BTC. The over night Repo rate is a....

An interesting statistic was released earlier today, detailing how slightly over half of the Chinese population is now officially connected to the Internet. Despite being the world’s largest nation, Internet penetration has been a major issue in China for quite some time now. Especially mobile Internet is playing a big role in this number increase, which creates an interesting opportunity for adoption of new payment methods in the country. Internet Connectivity In China Is on The Rise. For a country that is well known for its technological prowess, the status of not having half of its....

One of the major topics of concern regarding the Bitcoin block size debate has been how the Internet infrastructure in China is evolving over time. With its current data caps and fairly slow speed – compared to the rest of the world – bigger Bitcoin blocks are not something Chinese pool operators and digital currency enthusiasts are looking forward to.....

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.....

Explaining how VPN encryption works is quite similar to how Bitcoin works at its core. The RSA key associated with the VPN connection encryption operates similarly to a lock. Using the Internet in China has always been a bit of a struggle, simply because the government is very restrictive regarding which content can be accessed by residents. To counter this problem, many Chinese Internet users have signed up for VPN services to bypass the Great Firewall. But as it turns out, even those services are not free from government surveillance, as their lackluster encryption tools are relatively....