China Is Making Cryptocurrency to Challenge Bitcoin and ...

Discussion of futurology related business opportunities

Discussion of futurology related business opportunities.
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How do Chinese people (in or out of China) use Bitcoin?

My understanding is that China is the biggest market for Bitcoin in terms of mining and volume on the fee-free exchanges. However, I don't really understand how Chinese people actually use (spend or save) Bitcoin.
For example: Trading (speculation) - perhaps like gambling. HODLing. As a hedge against the possibility of a crash. To overcome capital controls.
I am especially interested in the last one. Some months ago I read that a tactic is to buy an expensive domain name from China e.g. a four letter name in the knowledge that one can always sell it for roughly the same amount when one has left China. Are Chinese people buying $100,000 of Bitcoin then waiting until they are overseas and converting it to USD or CAD or GBP?
Thanks!
submitted by bintytinty to Bitcoin [link] [comments]

How do Chinese people (in or out of China) use Bitcoin? /r/Bitcoin

How do Chinese people (in or out of China) use Bitcoin? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Is china using bitcoin to become a superpower?

It's just I thought I had, but its true that many many mining power comes from China. And there is a fact that many exchanges in China closed their business. So was is a very intelligent try from the government to lock this huge amount of money inside the country?
submitted by georgotpyrc to Bitcoin [link] [comments]

Is china using bitcoin to become a superpower? /r/Bitcoin

Is china using bitcoin to become a superpower? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

China keeps devaluing their currency in order to increase their exports. How will Bitcoin solve this problem?

I'm trying to think if Bitcoin will be a good alternative currency for China, since they keep devaluing their currency (by buying US debt).
So how does using Bitcoin solve this problem for China? I mean, they obviously want a weaker currency, which they can't have if they using Bitcoin. Because Bitcoin only gets stronger (deflationary) over time.
One idea I had is that if both US and China use Bitcoin as their main currency, then it would work for China. Because they won't have a competing currency against the US, but rather use the same coin. So that means US citizens will keep buying exports from China, because there won't be a cheaper fiat alternative to use.
Do I have it right? Or is there a different angle to this thing? What do you guys think?
btw, people here who only care about BTC price and have no interest in economics, please don't comment and get out of this post. Thanks.
submitted by MuliBoy to Bitcoin [link] [comments]

Nigerians Are Using Bitcoin to Bypass Trade Hurdles With China

Nigerians Are Using Bitcoin to Bypass Trade Hurdles With China submitted by bitcoinpenguin to Bitcoin [link] [comments]

Judge blocks US attempts to ban China's WeChat - Useful precedent for bitcoin?

Judge blocks US attempts to ban China's WeChat - Useful precedent for bitcoin? submitted by ElBurgeUK to CryptoCurrency [link] [comments]

Judge blocks US attempts to ban China's WeChat - Useful precedent for bitcoin? (x-post from /r/cryptocurrency)

Judge blocks US attempts to ban China's WeChat - Useful precedent for bitcoin? (x-post from /cryptocurrency) submitted by ASICmachine to CryptoCurrencyClassic [link] [comments]

China plans to use its Digital Currency at the 2022 Winter Olympic Games in Beijing (x-post from /r/Bitcoin)

China plans to use its Digital Currency at the 2022 Winter Olympic Games in Beijing (x-post from /Bitcoin) submitted by ASICmachine to CryptoCurrencyClassic [link] [comments]

Nigerians Are Using Bitcoin to Bypass Trade Hurdles With China

Nigerians Are Using Bitcoin to Bypass Trade Hurdles With China submitted by bitcoinpenguin to u/bitcoinpenguin [link] [comments]

Nigerians Are Using Bitcoin to Bypass Trade Hurdles With China

submitted by Ranzware to BitNewsLive [link] [comments]

Nigerians Are Using Bitcoin to Bypass Trade Hurdles With China (x-post from /r/Bitcoin)

Nigerians Are Using Bitcoin to Bypass Trade Hurdles With China (x-post from /Bitcoin) submitted by ASICmachine to CryptoCurrencyClassic [link] [comments]

r/Bitcoin recap - January 2019

Hi Bitcoiners!
I’m back with the 25th monthly Bitcoin news recap.
For those unfamiliar, each day I pick out the most popularelevant/interesting stories in Bitcoin and save them. At the end of the month I release them in one batch, to give you a quick (but not necessarily the best) overview of what happened in bitcoin over the past month.
You can see recaps of the previous months on Bitcoinsnippets.com
A recap of Bitcoin in January 2019
Adoption * The number of daily bitcoin transactions has been increasing rapidly again (10 Jan) * Bitcoin ads in Tokyo (11 Jan) * A fish-market in San Diego accepting bitcoin (12 Jan) * A discussion on handing out bitcoin at work (14 Jan) * Bitcoin transactions have increased by 50% over 6 months, with fees at a 2 year low (16 Jan) * LocalBitcoins has more volume than the Venezuelan stock market (16 Jan) * A popular content creator deletes his Patreon account and starts accepting bitcoin (16 Jan) * Buying bitcoin at one of 20k coinstar machines (17 Jan) * A story from a European teacher working in China using bitcoin to send money home (22 Jan) * Germany has 1/5th of the world’s Bitcoin nodes (23 Jan) * SatoshiLabs’ Lightning Node routes over 1 btc in transactions in one day (27 Jan) * Someone in Cambodia uses the Lightning Network and Bitrefill to pay their $1 weekly phone bill (30 Jan) * The Lightning Network reaches 600 btc in capacity (30 Jan)
Development * A special thank you to all the Bitcoin Core contributors in 2018 (1 Jan) * A discussion on the need for a lightning network stress test (6 Jan) * New Lightning apps made at the Seoul Bitcoin Lightning Hackathon (7 Jan) * Wasabi wallet can now mix large amounts faster (12 Jan) * Bitcoin Core developer Adam Gibson talks about fungibility, privacy and coinjoin (16 Jan) * A new Bitcoin developers school is launched in Switzerland (28 Jan)
Security * Bitcoin’s immune system (2 Jan) * A discussion on the importance of running full nodes after an attack on another cryptocurrency (8 Jan) * Google Play store requires Samourai Wallet to disable some of its security features (8 Jan) * The Kraken exchange CEO warns users to not store coins on an exchange if you’re not actively trading (16 Jan) * LocalBitcoins.com is compromised (26 Jan)
Mining * Bitmain lost 28% of its bitcoin mining market share in 6 months (2 Jan) * An analysis of a strange nonce pattern in Bitcoin since block 400k (7 Jan) * Bitcoin mining becomes more decentralized as Bitmain loses dominance (18 Jan)
Business * Overstock becomes the first major US company to pay taxes in bitcoin (4 Jan) * Gemini exchange promises it will start using SegWit, Bech32 addresses and transaction batching by the end of Q1 2019 (7 Jan) * Gab emails its 850k users about its switch to Bitcoin (9 Jan) * Bitrefill launches a Lightning channel opening service (9 Jan) * Jihan Wu is stepping down from his role as CEO of Bitmain according to an insider leak (10 Jan) * Bitcoin crowdfunding powered by BTCPay (10 Jan) * Bitmain shuts down its btc.com office (14 Jan) * One of the biggest banks in the Netherlands launches a bitcoin wallet (23 Jan) * A ‘leaked’ photo shows that the Samsung Galaxy 10 has a cryptocurrency wallet (24 Jan) * Data collection by bitcoin businesses (29 Jan) * Fidelity will launch its bitcoin custody service in March (30 Jan) * Paxful a P2P bitcoin marketplace, launches its second school in Rwanda (31 Jan) * The QuadrigaCX exchange goes bankrupt after losing access to its cold wallets (31 Jan)
Research * Data on the Proof of Keys event over the last 9 years (2 Jan) * 50% of the bitcoin supply hasn’t moved in a year (10 Jan) * A rebuttal to the reports of Bitcoin’s environmental damage (31 Jan)
Education * Bitcoin’s first block was mined 6 days after its genesis block (10 Jan) * TIME on why Bitcoin matters for freedom (24 Jan) * A simple explainer video of the Lightning Network (27 Jan)
Regulation & Politics * Coinbase bans Gab.com and its founder (5 Jan) * Some Yellow Vests in France are calling on their supporters to withdraw their money from the banks (8 Jan) * Wyoming introduces bill offering cryptocurrencies legal clarity (19 Jan) * The government of Zimbabwe shuts down the Internet country-wide and hurts its economy (21 Jan) * Venezuela’s new interim president is pro-bitcoin (25 Jan) * Iran lifts its Bitcoin ban (29 Jan)
Archeology (Financial Incumbents) * The European Central Bank has printed €2.85T since 2015 to help sustain the EU economy (4 Jan) * Some of the Yellow Vests in France are calling upon supporters to withdraw money from the banks (8 Jan) * EU fines Mastercard for €570M for high fees (22 Jan)
Price & Trading * Don’t look at ATHs, look at yearly lows (3 Jan) * Whenever you doubt your investing decisions, remember this guy (4 Jan) * Someone creates an open-source terminal dashboard for automated trading and charting (15 Jan)
Fun & Other * Someone put 5% of their paycheck into bitcoin for 3 years (1 Jan) * Bitcoin featured in The Times newspaper on its 10th anniversary (2 Jan) * Bitcoin was launched 10 years ago (3 Jan) * A “How to use bitcoin anonymously” article gets banned on Medium (5 Jan) * A street art treasure hunt in Paris with a Bitcoin puzzle (7 Jan) * An AMA with the co-founder of Wasabi Wallet (7 Jan) * People are trying to encourage others to quit smoking and acquire bitcoin with those savings (8 Jan) * 10 years since Hal Finney’s “Running Bitcoin” tweet (9 Jan) * Gab calls bitcoin “free speech money” (9 Jan) * Nick Szabo on Central Banks, gold and bitcoin (11 Jan) * A discussion on the public perception of ‘hodl’ (12 Jan) * A Twitch streamer receives 20 bitcoin in donations (13 Jan) * The Paris bitcoin puzzle was solved (14 Jan) * An AMA by Blockstream (16 Jan) * The challenges of launching a new cryptocurrency with Proof-of-Work today (16 Jan) * A bitcoin logo on a football team’s shirts in Israel (21 Jan) * Buckminster Fuller on an energy-value system in 1981 (22 Jan) * Someone started anonymously broadcasting messages over Blockstream’s satellites (24 Jan) * Bitcoin is inspiring a new generation of investors (28 Jan) * A story from someone who lost ~$2M USD in btc (29 Jan) * A discussion on tokenization in stock and bonds trading (31 Jan)
submitted by SamWouters to Bitcoin [link] [comments]

Using Bitcoin to move money out of china

Is it still a feasible solution to buy large amounts of btc in china using rmb and cash out somewhere internationally? My family member just sold his house in china and wants to buy a house in Australia. but china currency capital controls are very restrictive. Does china go after people buying lots of btc using rmb? Any experience or stories? Looking at starting with 6 figures. I heard local Bitcoin or WeChat is a good option.
submitted by meoweth2 to Bitcoin [link] [comments]

With Rainy Season Here, China Calls for Bitcoin Miners to Use its Cheap and Abundant power

With Rainy Season Here, China Calls for Bitcoin Miners to Use its Cheap and Abundant power submitted by bitcoinexchangeguide to BitcoinExchangeGuide [link] [comments]

04-25 13:25 - 'China controls 66% of the bitcoin hash power while the Nano network is more evenly distributed because it doesn't use mining and the nodes are cheap to run. Seems like the bitcoin network is more prone to "corruption".' by /u/IAmMiguelChanel removed from /r/Bitcoin within 255-265min

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China controls 66% of the bitcoin hash power while the Nano network is more evenly distributed because it doesn't use mining and the nodes are cheap to run. Seems like the bitcoin network is more prone to "corruption".
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submitted by removalbot to removalbot [link] [comments]

China's central bank is disinfecting and isolating used banknotes to stop the spread of coronavirus [Bitcoin users not affected]

China's central bank is disinfecting and isolating used banknotes to stop the spread of coronavirus [Bitcoin users not affected] submitted by bitsteiner to Bitcoin [link] [comments]

China Confiscates 7,000 Crypto Mining Machines; Bitcoin Mining Tools Use 40 Times More Electricity

China Confiscates 7,000 Crypto Mining Machines; Bitcoin Mining Tools Use 40 Times More Electricity submitted by Moustache_Group to BitcoinMining [link] [comments]

04-25 13:25 - '[quote] I was suggesting China, with their authoritarian regime, could do a 51% attack. / [quote] Nano, like a lot of other cryptocurrencies, have no central control. / [quote] Ok so you're not using Bitcoin for it's...' by /u/IAmMiguelChanel removed from /r/Bitcoin within 195-205min

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You equate China with corruption, but you don't understand how the blockchain works.
I was suggesting China, with their authoritarian regime, could do a 51% attack.
It doesn't matter who mines, there is no central control.
Nano, like a lot of other cryptocurrencies, have no central control.
Who uses Bitcoin for everyday expenses? I don't plan on spending a dime of it
Ok so you're not using Bitcoin for it's original intended purpose - as a peer-to-peer electronic cash system. Why not? because few places accept bitcoin. Why don't they? My guess is transaction fees/time and maybe the environmental effect. Nano addresses these problems.
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submitted by removalbot to removalbot [link] [comments]

You can still buy and sell Bitcoin (BCH) in China using Local.Bitcoin.com

You can still buy and sell Bitcoin (BCH) in China using Local.Bitcoin.com submitted by BitcoinXio to btc [link] [comments]

If China and the USA just agreed to trade using Bitcoin, then neither side could accuse the other of cheating!!!

submitted by the420chronicler to Bitcoin [link] [comments]

[Spoiler] S3E2- Bitcoin

I just wanted to point out the cringe-worthiness of the notion of China adopting Bitcoin as their currency in Mr. Robot; given the reality of China's stance on the crypto and banning the currency from being traded.
I wonder what Sam was doing/thinking when he followed that news story playing out back in August when China decided to ban trading of the crypto.
Hearing Philip Price make that statement of China using Bitcoin as their currency really smacked a blow at the show's cred IMHO. Please don't beat me up here, I am just stating that it felt a bit wonky hearing that, knowing the reality of the situation. Given; we could argue the show takes place in an "alternate universe," but still, Bitcoin as China's currency of choice? Why would China enable a system that they (or nobody) has control over over a currency that they can lock down?
submitted by Weaselbrott to MrRobot [link] [comments]

BITCOINs Deadly Use Case Revealed! China, Cartels & Drug Money Laundering! The Bitcoin Group #124 - China uses Leverage - GBMiners Ponzi? - India Booms - Backpage China's New Bitcoin-esque Digital Currency Aimed At A New Financial System China warns against use of Bitcoin NEXT BIG WAVE: Why Bitcoin is HOT in China - YouTube

Go here to check the Bitcoin price in China. Some people get worried when they see how much they’re paying over the market rate on Bitcoin while using this platform. Take notice that every region has a different rate. To see China’s rate, run a search on Google, “BTC to CNY”. What’s the world’s most widely used cryptocurrency? If you think it’s Bitcoin, which accounts for about 70% of all the digital-asset world’s market value, you’re probably wrong. The chives growing in one crypto tycoon’s California mansion carry a hidden message. Guo Hongcai, a beef salesman turned early bitcoin adopter from China’s Shanxi province, is one of many ... Amid the coronavirus pandemic, China's central bank has reportedly completed the basic development of the nation's central bank digital currency. The central bank is now drafting legislation for ... Mu Changchun, the head of the People’s Bank of China’s digital currency research institute, said China’s new digital currency was different to bitcoin.

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BITCOINs Deadly Use Case Revealed! China, Cartels & Drug Money Laundering!

Reported on CNBC 12/05/13. Also, CNBC trader Brian Kelly tries unsuccessfully to buy Bitcoins on MT.Gox due to 10 day verification period. China is testing a new homegrown digital currency in a bid to reduce cash circulation. This new digital currency is being tested in four cities of the country. Though it is similar to the Bitcoin ... The Bitcoin News Show #64 - Ripple Growth, Miners Leave China, Debit Card Shutdown, Bitpay & BIP 70 - Duration: 1:39:15. World Crypto Network 15,523 views 1:39:15 China has a population of 1.3 Billion people - all of which will potentially need to use Bitcoin as national policy shifts to limit the use of the RMB. I too... Is Bitcoin used just for payments & holding one value or are there more nefarious use cases of $BTC? Today, we dive into, Bitcoin & Tether’s biggest use case.

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