Tag Archives: Asia

Will Bitcoin Craze Grip India?

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“Vijayashankar, MD, Ujvala Consultants, says that success of any currency depends on its acceptability. Talking about regulating bitcoin transactions, he adds, ‘Question of regulation will arise when the digital currency and its operation in the digital world interferes with the physical world.'”

http://www.yourmoneysite.com/videos/watch/4285/will-bitcoin-craze-grip-india

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Bitcoin Awareness Grows in South Korea After Central Bank U-turn

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“Kevin Lee is a Seoul-based bitcoin entrepreneur and CEO of BitcoinKorea, South Korea’s first bitcoin business and portal. He has traveled around Asia attending bitcoin-related conferences and meetups, and wants to be instrumental in promoting its use in his native land.  He thinks South Korea’s need for digital currency options are similar to China’s: a way to diversify investments and find a way around capital controls.  Lee, a friend of Asia-based bitcoin missionary Roger Ver, said the pair will tour South Korea from 8th to 23rd January to spread the word – talking to major news organisations and helping to introduce Kraken, an exchange that launched in the country just last Friday.”

http://www.coindesk.com/bitcoin-awareness-south-korea-central-bank/

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South Korean bakery starts accepting Bitcoin

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“Korea now has its first store willing to accept Bitcoin, the new form of digital currency that has everyone talking.  Despite its relative convenience, it remains to be seen whether Bitcoin will become a popular way to pay for things in a brick and mortar store.
Kim Min-ji reports.  This bakery in Incheon, west of Seoul, has begun accepting Bitcoin as an alternative means of payment, becoming the first store in Korea to accept the virtual currency.  To pay with Bitcoin, the customer needs to check how much Bitcoin is needed to meet the original price tag.  Using a currency conversion application, the price of a product is converted into Bitcoin units.”

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Bank of Korea Relaxes Negative Stance on Bitcoins

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“The BOK said on December 3 that it made a report on bitcoins and is pondering a measure to open  the virtual money to the public. The report however includes a negative opinion on the possibility of its use as a future currency.   There are no stores in Korea that accept bitcoins except Korbit, which was established in April this year, specifically to facilitate trading in bitcoins. Bitcoins are only used for investment purposes, not for the trade of goods.  Under such circumstances, a Paris Baguette in Incheon City started to accept bitcoins and developed a tablet application for bitcoin settlement.”

http://www.businesskorea.co.kr/article/2342/dilemma-central-bank-bok-relaxes-negative-stance-bitcoins-global-discussion-rapid

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Learn Bobby Tay’s $2.7 Trillion Sigma Secret

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“Sabana is a shari’ah-compliant REIT, meaning it adheres to Islamic financial principles. That’s appealing to a large swath of the Middle East that is eager to find a place outside the U.S. and Europe to put money to work. Singapore is a natural destination because of the safety of the banking system and the surety of the legal system.  In 2011, an estimated $2.7 trillion was looking for a shari’ah-compliant home, and with a shari’ah-compliant REIT kicking off a dividend of 10% at the time, well there was no question the Arabs would invest.  It was a Sigma event.”

http://thesovereigninvestor.com/2013/11/27/learn-bobby-tays-2-7-trillion-sigma-secret-2/

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Two Japanese airlines to disregard China air zone rules

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“Two of Japan’s biggest airlines have agreed to abide by a government request not to implement China’s new air defence zone rules, officials say.  All Nippon Airlines and Japan Airlines say that they will stop filing flight plans demanded by China on routes through the zone, set up on Saturday.  Japan says that China’s new air defence identification zone are ‘not valid at all’ and should be disregarded.  The zone includes disputed islands known as Senkaku in Japan and Diaoyu in China. Taiwan also claims the islands, which are controlled by Japan.  Part of the zone also overlaps with a submerged rock claimed by South Korea.”

http://www.bbc.co.uk/news/world-asia-25087793

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Bitcoin Changes Hands At South Korean Bakery Franchise

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“Bitcoin will get you bread in South Korea, thanks to a bakery in Incheon that took the landmark step of allowing customers to pay with the world’s most common virtual currency.  Lee Jong-soo, who runs Paris Baguette, a franchise bakery, said the first transaction involving the virtual money happened early Tuesday morning. As of mid-Tuesday, three more people had purchased bread using Bitcoin.  Mr. Lee said the idea of embracing the virtual currency came during a family dinner with his two grown-up sons a month ago. His younger son, who studied finance in the U.S., brought up the issue and suggested the bakery accept Bitcoin as a payment method.”

http://blogs.wsj.com/digits/2013/12/03/bitcoin-changes-hands-in-south-korea/

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The secret Hong Kong facility that uses boiling goo to mine Bitcoins

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“The cooling system is state of the art, but Cao reports that the mine uses common equipment — including racks and valves — found ‘in local markets easily.’ This enabled ASICMINER to build its facility quickly and comparatively cheaply before setting it to its mining task. The tanks, when filled with 92 circuit boards, cooling liquid, and an array of racks and rails, each weigh about 200 kilograms. They’re pushed into place by a forklift truck.  Hong Kong’s low energy prices make it an attractive center for Bitcoin miners, and the use of easily available components apparently helped drive down ASICMINER’s costs, but the investment necessary to build and maintain such a facility is still high.”

http://www.theverge.com/2013/12/2/5165428/bitcoin-mine-in-hong-kong-uses-jelly-to-keep-cool

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Lunlun Zou Guzheng Studio: First Hong Kong Business to Accept Bitcoin

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“On November 25, Lunlun Zou Guzheng Studio sent out a press release to announce their acceptance of Bitcoin. Lunlun Zou Guzheng Studio is the first business in Hong Kong to accept Bitcoin and hopefully will serve as a catalyst for many surrounding businesses to begin accepting Bitcoin. Guzheng is a 2,000 year old musical instrument from China with 21 strings and serves as the predecessor to the Japanese koto, Korean kayagum and Vietnamese dan tranh. Lead teacher, Lulun Zou, has performed around the world and through her new decision to accept Bitcoin will certainly have a positive impact on the Bitcoin ecosystem. Classes range from beginner to advanced.”

http://bitcoinmagazine.com/8419/lunlun-zou-guzheng-studio-first-hong-kong-business-to-accept-bitcoin/

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Korea Announces Favorable Tax Policy for BTC

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“Posted in Korea’s Bitcoin Community on Facebook is a statement from Korea’s National Tax Service stating that Koreans will not be taxed for capital gains on bitcoin for the time being. While this is clearly good news for the few long-time miners in Korea as well as speculators that have experienced a windfall in the past month, it is important to remember that this is not a good long-term position toward bitcoin. Essentially, the Korean government is taking the stance that bitcoin investments are not real.  Currently, bitcoiners are happier to be left alone by the governments of the world and such a policy supports this in the long term.”

http://bitcoinbabble.com/?p=192

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