Tag Archives: China

China’s national currency, the yuan, is slipping in price, and it looks like the currency’s downfall could be good for bitcoin.As the Yuan Heads Down, BTC Moves UpThe currency fell by about 7.16 percent against the U.S. dollar on Tuesday. This is the yuan’s lowest numbers since last September, and the decline is only slated to get worse. In the past, every time the yuan has slipped into red territory, bitcoin has swiftly moved up, meaning that if this trend continues in any way, we could...

Could the United States and China enter a cold war now that the coronavirus pandemic is beginning to calm down? According to some analysts, this is very much a possibility, and should both east and west take this route, the results could be quite positive for both gold and bitcoin.A Cold War Between the U.S. and China?Both assets have been getting a lot of attention lately from figures such as Robert Kiyosaki, the author of “Rich Dad, Poor Dad.” In a series of tweets, Kiyosaki recently warned...

Chinese multinational tech behemoth, Tencent has revealed its plans to invest heavily in emerging technology industries, including blockchain.Tencent To Invest $70 BillionAccording to a Tuesday report, the company will, over the next five years, invest 500 billion yuan ($70 billion) into this project, which it describes as investing in “new infrastructure.” Speaking about the development, Dowson Tong, Senior Executive VP at Tencent, revealed that the investment covers other tech sectors such...

New information suggests that local government authorities in the Chinese province Sichuan are seeking to ban cryptocurrency mining operations in the region.Contrary, sources familiar with the matter claim that these notices are misunderstood, and crypto mining will not suffer major negative consequences.A Region In China Clamps Down On Crypto Mining?The story began with the local media outlet PANews posting on Twitter the notice, which reads:“The Financial Administrative of the Sichuan...

Bitcoin kissed the $10K mark goodbye this week as the cryptocurrency dropped to as low as $8,800 on Thursday, reaching the trend-line that was forming since the massive drop in March. As expected, BTC received strong support in that area, and its price quickly recovered to around $9,200, where it’s currently trading.The dump started suddenly as Bitcoin’s price flash crashed on Bitstamp and reached $9,100 in less than a minute. Even though it recovered after that, it turned out to be an...

An education institution in China, training officials from the country’s Communist Party, has published yet another book on cryptocurrencies. The authors include the former Vice President of the People’s Bank of China (PBoC), as well as other formerly high-ranked officials.China Continues Its Efforts in the IndustryAccording to a recent report from the local press, China’s Central Party School of the Communist Party has published another book from its Blockchain series.The authors of the book...

Leading cryptocurrency exchange, Binance is back to China after leaving the country in 2017 due to the ban on crypto trading activities. However, the exchange’s return to China is not for crypto. It is to promote blockchain research and development in the region and across the world. “Binance China” Platform Goes Live Local media reported yesterday that Binance has officially launched a Binance China website. The domain name was registered with the Chinese government as “Binance.cn” in April...

Recent Chinese reports indicate that a new cryptocurrency scam, resembling the notorious PlusToken, has been brought to trial this week. Dubbed WOTOKEN, allegedly scammed over 700,000 users and absorbed more than $1 billion worth of Bitcoin and other digital assets.The New Chinese Threat: WOTOKENAccording to local reports, the trial began on May 14th in the People’s Court of Binhai Country, Yancheng City, against six defendants allegedly operating the WOTOKEN project. More specifically, the...

The giant mining firm, BHP Billiton, has reportedly completed its first yuan-denominated transaction of iron ore utilizing blockchain technology. The company sold materials worth over $14 million to China Baoshan Iron & Steel Co LTD (Baosteel) – the listed arm of the world’s biggest steelmaker China Baowu Steel Group (Baowu).Blockchain Utilized For Iron Ore SaleNearly four years ago, the massive mining firm revealed its plans to begin employing the Ethereum blockchain to improve the...

Bitcoin Mining Map Das Cambridge Centre for Alternative Finance publiziert immer wieder sehr wertvolle Studien über das Bitcoin-Netzwerk. Insbesondere im Bereich Stromverbrauch ist die Forschung die Universität von Cambridge federführend. Daher ist folgende Publikation absolut spannend und brisant: Eine Karte die aufzeigt, wo auf der Welt die Bitcoin Mining Geräte verteilt...