Renewed Chinese Interested in Bitcoin Influenced by Ongoing G-20 Summit
Renewed activity on Chinese Bitcoin exchanges following the recent developments in G-20 summit may be responsible for the increase in Bitcoin prices. The Bitcoin community had a reason to rejoice this weekend as the digital currency broke the impasse to cross $610. The popular cryptocurrency has been hovering at around $570 since the past one month after falling from a high of $750 following the Bitfinex hacking incident. Like many times in the past, the sudden movement of Bitcoin price is attributed to an increased interest in the digital currency among Chinese investors. China plays a....
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Bitcoin price has crossed the $270 mark, which is really good news for bitcoin after it fell drastically from the $300 pedestal in July. The prices have touched $270 a couple of times since then. From the past few days, the bitcoin price has seen a positive trend. The trend seems to be influenced by a lot of reasons. But the most important reason for prices to shoot further up from previous price point seems to be influenced by reports pointing towards a global economic slowdown. Bitcoin price received an initial boost after the main Chinese exchanges Huobi and OKCoin experienced a surge....
Yesterday, Caixin reported that the PBOC, led by the Payment and Clearing Organization of China, has been having meetings and interviews with commercial banks, third party payment processors, and Bitcoin exchanges within China. PBOC officials made it very clear that they wished to completely cut off the funding line of Chinese RMB into Bitcoin trading platforms around the country. The renewed interest in Bitcoin by the PBOC has led to funding shuffles from every Chinese Bitcoin exchange. Cryptocurrency exchange rates across the board have suffered since the first rumors of renewed the....
Yesterday was day one of China’s first-ever Global Bitcoin Summit in Beijing. The summit comes during a rough patch for Bitcoin in China as eleven of the country’s major banks have ceased dealing with customers using the digital currency. Despite even more setbacks at the last minute, the summit is so far a success. The latest blowback for the summit came on May 7, when the China Digital Times published new censorship instructions published by Chinese government authorities. One of the instructions reads as such, “(5) The Global Bitcoin Summit 2014 will be held on May 10-11 in Beijing. All....
Courtesy of ZhangZhang Music. Despite their reputation as an investment only for the computer-savvy, Bitcoin and other cryptocurrencies are increasingly entering the mainstream consciousness, even amid government pushback. One Chinese musician has contributed to this process by composing the first ever love-song and music video dedicated to Bitcoin. We Are All Bitcoins. ZhangZhang's love-song to Bitcoin, “We Are All Bitcoins,” debuted during the Global Bitcoin Summit, a somewhat awkward time for his Chinese listeners. As CCN has reported, Bitcoin’s increasing prominence led an unnamed....
The recent summit at Davos saw the creation of Global Blockchain Business Council, with China playing an important role in it. China is the land that gave birth to the great military general and strategist, Sun Tzu. Sun Tzu is well-known for his “The Art of War,” and the Chinese seem to have adopted it quite well. Thankfully, it is not as serious as going to war with an enemy, or at least it doesn’t feel that way at the moment. The Chinese representatives at the World Economic Forum Summit in Davos called for a unified approach towards creating blockchain solutions. At the same time, the....