Crypto in China

Bitcoin-Mining Malware infiszierte in China mehrere tausend Internetcafés wie dieses hier auf dem Bild. Foto CC0 Gemeinfrei via Unsplash Betrüger in China betreiben Bitcoin Mining in Millionenhöhe: In China sorgt ein Betrügernetzwerk für großes Aufsehen. Internet-Cafés wurden von einem Unternehmen in der Provinz Henan gekapert, um für einen Betrug benutzt zu werden. Auf allen...

Facebook's fiat-pegged 'cryptocurrency', the Libra, may reportedly avoid including China's Yuan among its list of supported state currencies. | Source: ShutterstockThe basket of fiat currencies in the line up to back Facebook's Libra "cryptocurrency" may not include the Chinese Yuan.According to Bloomberg, the likely backers include the US Dollar, the Euro, the British pound, The Japanese Yen, and the Singapore dollar.Facebook offered up this potential list after Virginia Democratic Senator,...

Unabhängig aller wirtschaftlichen Spannungen und Sanktionen der Trump Regierung kauft China Safe-Hafen-Anlagen ein. Gold ist dabei die erste Wahl der Zentralbank, die Bevölkerung dagegen setzt mehr auf Bitcoins. Durch die Käufe stockt China seine Goldreserven auf. Im August kaufte China weitere 190’000 Unzen, also 6 Tonnen Gold hinzu. Seit Dezember 2018 stockte China seine Goldreserven fast um 100 Tonnen auf. Gleichzeitig stockt auch Russland seine Goldvorräte auf. Diese Goldkäufe...

Unabhängig aller wirtschaftlichen Spannungen und Sanktionen der Trump Regierung kauft China Safe-Hafen-Anlagen ein. Gold ist dabei die erste Wahl der Zentralbank, die Bevölkerung dagegen setzt mehr auf Bitcoins. Durch die Käufe stockt China seine Goldreserven auf. Im August kaufte China weitere 190’000 Unzen, also 6 Tonnen Gold hinzu. Seit Dezember 2018 stockte China seine Goldreserven fast um 100 Tonnen auf. Gleichzeitig stockt auch Russland seine Goldvorräte auf. Diese...

China's state digital currency is coming. | Source: ShutterstockChina's incipient digital currency will apparently "bear similarities" to Facebook's own proposed cryptocurrency and is intended to protect China's 'monetary sovereignty', according to a superior within China's central bank.Relaying the several key attributes of China's new central bank digital currency (CBDC) Mu Changchun, deputy director of the People’s Bank of China’s payments department, elaborated upon the emerging...

Bitmain, the world's largest maker of bitcoin mining equipment, has been named the third hottest startup to work for in China. | Source: ShutterstockChina has held the crown for being the home of some of the largest makers of bitcoin mining equipment for years now. According to LinkedIn, one of these bitcoin mining rigs has emerged as a favored destination for job seekers in the world’s second-largest economy.Per CNBC citing a report by the Microsoft-owned professional social network,...

An illegal crypto mining operation involves hijacking multiple internet cafes, bribery and some 100 million yuan in crypto. | Source: ShutterstockFifteen Chinese individuals have reportedly been arrested for their involvement in an illegal cryptocurrency mining operation that hijacked the bandwidth of scores of internet cafes to mine approximately 100 million yuan (nearly $14 million) in cryptocurrency.The operation involved the bribery of over 9,000 internet cafe administrators who infected...

The bitcoin price slid below the $11,000 mark for the first time in more than a week on Tuesday, as the flagship cryptocurrency’s burgeoning inverse correlation with the S&P 500 came back to bite investors. Bitcoin Price Careens Below $11,000 Bitcoin had entered the day trading sideways in the low $11,000s, where it had more or less languished since the Saturday sell-off that followed BTC’s brief foray above $12,000 last week. The dam broke around 10 am ET, and the bitcoin price...

China’s long-fabled “cryptocurrency” launch is finally on the horizon. According to Bloomberg, People’s Bank of China (PBoC) payments department deputy director Mu Changchun confirmed at the China Finance 40 Forum that the country’s cryptocurrency is nearing its release following a year of research and development. Given Beijing’s history of antagonism toward decentralized cryptocurrencies, what does the impending launch of a PBoC-approved digital currency mean for bitcoin? China’s...

The founder and CEO of Chinese telecommunications giant Huawei, Ren Zhengfei, has dismissed concerns that Facebook’s planned cryptocurrency Libra could dominate the world at the expense of China and its tech firms, Sina reports.Noting that countries have more power compared to internet firms, Zhengfei stated that China could issue its own digital currency that would rival Libra:China can also issue such a currency by itself. Why wait for others to issue it? The power of a country is always...