“The former chief technology officer of the Chinese-language online social reading platform Docin, Xu Mingxing, believes bitcoin ‘is a social experiment.’ He is willing to risk losses by investing in the currency, he said.  Xu says he began buying bitcoins in 2012, when one bitcoin was valued at less than US$20. ‘In September this year, the exchange rate of one bitcoin surged to US$900.’  Admitting he began his bitcoin investment on speculation and with the intention of experimenting with them, Xu remarked that he now believes bitcoins are a democratic currency, or a perfect currency in the real world.”

http://www.wantchinatimes.com/news-subclass-cnt.aspx?id=20131119000017&cid=1202

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