Tag Archives: China

The Future Of Bitcoin Depends On Startups, Regulations And China

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“Khan’s view is that the Bitcoin space is in the second wave of companies — the first wave having mostly been shut down (and some even facing jail time). The current crop includes the likes of BTC exchange Mt.Gox, which he argued now has its own challengers, despite Gox’s early dominance. ‘I’m looking more forward to the next wave of companies. There are teams of entrepreneurs with tier-A VCs, with lawyers, with regulators, sitting in rooms around the world, thinking how do we launch the next generation of digital currency companies. I think that’s where the opportunity is. We’re still very very early in this journey,’ Khan added.”

http://techcrunch.com/2013/10/28/the-future-of-bitcoin-will-depend-on-upcoming-startups-regulatory-issues-and-china/

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How to Make $15.6 Million, Risk-Free

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“You can buy CDSs without owning the underlying bond, which is essentially a speculation that McDonald’s will default on that bond.  Unless, of course, you have influence over the fast-food giant’s management. Then it’s not a speculation at all. It’s a can’t-lose trade.  That’s what Blackstone did. It took out an insurance policy on Codere, persuaded it to default, then collected $15.6 million in payouts. There was never a chance Blackstone would lose money on this arrangement. It was literally a risk-free trade.”

http://www.caseyresearch.com/cdd/how-to-make-15.6-million-risk-free

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This Chinese Exchange Just Pushed the Value of Bitcoins Over $200

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“The exchange, called BTC China, has been growing rapidly for the past few months as demand for bitcoins has surged. Today, BTC China accounts for just under 33 percent of trades. That’s ahead of long-time bitcoin exchange Mt. Gox (23 percent) and another rival, the Slovenia-based BitStamp (25 percent). Lee, a Stanford Computer Science graduate who once ran Yahoo Groups here in the U.S., took over as BTC China CEO in the spring, after leaving a job as VP of Technology with Walmart China. Apparently, he has crypto currency in his blood. His brother is Charlie Lee, the founder of Bitcoin’s alternative, Litecoin.”

http://www.wired.com/wiredenterprise/2013/10/btc-china/

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After Silk Road Bust, And With Baidu’s Blessing, Bitcoin Breaks $200 Again

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“Chinese Internet giant Baidu started accepting Bitcoin as a payment method for Jiasule, its online security and firewall services, on October 14, for instance. And an influx of Chinese investment in Bitcoin is very definite contributory factor to the recent price surge.  Baidu’s corporate stature may well be giving Bitcoin’s perceived legitimacy a boost in China. It’s also clearly helping to increasing BTC trading volumes in the country by giving a chunk of its customer base the option to pay in Bitcoin: Forex Magnates noted last week that China’s largest Bitcoin exchange, BTC China, had more than doubled following the Baidu news.”

http://techcrunch.com/2013/10/22/bitcoin-breaks-200-again/

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Chinese university fires outspoken economist amid crackdown on dissent

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“A liberal Chinese economist who had been an outspoken critic of China’s ruling Communist Party has been expelled from the elite Peking University, amid a broader crackdown on dissent.  Professor Xia Yeliang, 53, had drawn the ire of school officials for his blog posts calling for democratic reforms and rule of law in China. Xia said he was told on Friday that professors and school leaders had voted to end his contract. Chinese liberals and intellectuals had hoped the new government under President Xi Jinping that took over in March would be more tolerant of calls for reform but it appears authorities won’t tolerate any challenge to their rule.”

http://www.reuters.com/article/2013/10/19/us-china-professor-idUSBRE99I01C20131019

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China Banking Regulatory Commission: “No plans against Bitcoin”

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“Whether intentionally or not, the CBRC’s statement has fed fuel to the Bitcoin fire, and set a precedent on how to address the legality Bitcoin in your country and according to your banks.  To all the high level banksters and 3rd world country leaders reading this article: Please take China’s example not Thailand’s example.  Given China’s prominent position among developing and emerging countries, It will be interesting to see in the coming months what the other 88 member nations of the AFI release to their public regarding Bitcoin.”

http://bitbybitbybitcoin.wordpress.com/2013/10/17/china-banking-regulatory-commission-actually-said-as-of-today-there-are-no-regulatory-policy-plans-directed-against-bitcoin/

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The NSA Revelations Are Destroying IBM Hardware Sales In China

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“Teradata, which sells analytics tools for Big Data, warned that quarterly revenues plunged 21% in Asia and 19% in the Middle East and Africa. Wednesday evening, it was IBM’s turn to confess that its hardware sales in China had simply collapsed.  At the hardware unit, Systems and Technology, revenue plunged 17%. Within that, sales of UNIX and Linux Power System servers plummeted a dizzying 38%. Revenues in IBM’s ‘growth markets’ dropped 9%. They include the BRIC countries where revenues sagged 15%. In China, which accounts for 5% of IBM’s total revenues, sales dropped 22%, with hardware sales, nearly half of IBM’s business there, falling off a cliff: down 40%.”

http://www.businessinsider.com/nsa-revelations-kill-ibm-hardware-sales-in-china-2013-10

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China downgrades U.S. credit rating, accuses of ‘holding world hostage’

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“Dagong lowered its ratings for U.S. local and foreign currency credit from A to A-, maintaining a negative outlook, the agency said in a statement.  The announcement came after the U.S. Congress passed and President Barack Obama signed a bill that extends the nation’s borrowing authority and ends a two-week government shutdown. ‘The fundamental situation that the debt growth rate significantly outpaces that of fiscal income and gross domestic product remains unchanged,’ Dagong said in the statement, adding Washington’s solvency was vulnerable as old debts were still repaid through raising new debts.”

http://www.rawstory.com/rs/2013/10/17/china-downgrades-u-s-credit-rating-and-accuses-lawmakers-of-holding-world-hostage/

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Chinese Investment in the U.S.

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“US Perceptions on Chinese Investment in the U.S. — A Discussion by Lin Yang, with Chinese Entrepreneurs and U.S. Policy & Opinion Makers.”

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China’s Google Is Now Accepting Bitcoin

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“China’s largest search service, Baidu, announced it would now accept bitcoin for its Jaisule service from the 14th of October.  Jaisule is the firm’s firewall and DDOS protection service. The service essentially protects websites from malicious attacks that attempt to crash it by overloading it with external communications requests so that it cannot respond to legitimate traffic. A similar US-based service is Cloudflare.  With a market cap of over $50 billion, the company may be the largest one yet to accept payments in bitcoin.”

http://www.businessinsider.com/chinas-google-is-now-accepting-bitcoin-2013-10

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