Cryptocurrencies With Utility Will Have a Promising Future, Says a Report from Bank of China Bitcoin

Cryptocurrencies With Utility Will Have a Promising Future, Says a Report from Bank of China

“Those cryptocurrencies that have practical use cases and can serve as a means of exchange or payment will enjoy promising prospects.” says a report from the Institute of International Finance (IIF) of Bank of China. Although the vice governor People’s Bank of China (PBoC) emphasized a reinforced crackdown on all types of virtual currencies this year on March 29, Bank of China, the country’s fourth-largest bank by assets, feels positive about some cryptocurrencies that offer utilities. The “Global Banking Outlook Report” for Q2 2018 which was published on March 28, includes a special analysis of digital currency, focusing on the status quo...
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A CPPCC Member Proposes To Launch A Regulated Cryptocurrency Exchange In China Bitcoin

A CPPCC Member Proposes To Launch A Regulated Cryptocurrency Exchange In China

As Chinese authorities escalate crackdown on cryptocurrency trading, a member of China’s top political advisory body, however, suggested on March 3 that a regulated and efficient cryptocurrency exchange should be set up in China under unified coordination of various government agencies to help companies raise funds and to assist individual investors to receive capital gains. China kicked off the annual parliamentary season on last Friday. Wang Pengjie, member of the 13th National Committee of the Chinese People’s Political Consultative Conference (CPPCC), brings his proposals to Beijing to fulfill his duty as “a representative of his industry”. Surprisingly, Wang’s proposal of this year...
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Alibaba Files Trademark Lawsuit Against Dubai Firm Behind ‘Alibabacoin’ Bitcoin

Alibaba Files Trademark Lawsuit Against Dubai Firm Behind ‘Alibabacoin’

Alibaba Group Holding Ltd on Monday sued a Dubai-based firm it said has caused confusion by using its trademarked name to raise more than $3.5 million in cryptocurrency known as “Alibabacoins”, Reuters reported. In the complaint, Alibaba said Alibabacoin Foundation’s “prominent, repeated, and intentionally misleading” use of its trademarks is designed to confuse consumers to think its products are affiliated with or endorsed by the Chinese online retailer Alibaba. Despite Alibaba having repeatedly said “it is not interested in moving into the cryptocurrency space,” confusion over its role has spread through media, and Alibabacoin has “done nothing to combat or...
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Bitmain S9 Miner Dismantling Report: Cost 5,000 Yuan As Per BOM Bitcoin

Bitmain S9 Miner Dismantling Report: Cost 5,000 Yuan As Per BOM

According to a report by “icsuperman”, the material cost of S9 miner is around 5,000 yuan. However, the market price for S9 miner in stock supply is around 14,000 CNY at the moment. The profitability of Bitmain has attracted more attention from traditional IC enterprises. The report also points out the merits and drawbacks of the design. How much is the actual cost of manufacturing one unit of S9 miner? A detailed report was written after the machine was dismantled by “icsuperman”, suggesting that the cost of this mining machine is about 5,000 yuan. The report is backed by  lists...
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Zhao Dong: Bitcoin Market Has 4 Seasons, the Real ‘Winter’ Would Come in 2019 Bitcoin

Zhao Dong: Bitcoin Market Has 4 Seasons, the Real ‘Winter’ Would Come in 2019

March 29, two famous Chinese speculators had a brilliant conversation on bitcoin investment. Wang Feng, initiator of blockchain information portal Huoxing24 and the founder of Linekong Interactive Group, has opened up a column named “Wang Feng’s 10 Questions”. This time, he invited Zhao Dong, the prominent Chinese early bitcoin adopter, the shareholder of Bitfinex and founder of Dfund, as his guest. Zhao Dong demonstrated his point of view in the pattern of bitcoin. He stated that, throughout history, there is a four-year cycle for bitcoin and halving mining could be the key changing point. If we say 2013 is a “summer” of bitcoin, then...
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This Chinese Scholar Sees A Rosy Future Ahead For Bitcoin Bitcoin

This Chinese Scholar Sees A Rosy Future Ahead For Bitcoin

Has bitcoin fad started to fade away? Its price hit a 5-week low of $7,753 on Thursday following a series of blows.And the largest cryptocurrency by market cap was traded in a relatively narrow range, between $8,500 and $11,300 last month.It looks pretty boring. However, a Chinese scholar sees a rosy future ahead for bitcoin. Chen jianqi, deputy director and professor of the World Economic Research Institute of the Party School of the CPC, said on March 12 in a blockchain-themed event that bitcoin has the potential to become a global currency like China’s Yuan and U.S. dollar, and in...
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Chinese Legendary Crypto Investor Li Xiaolai : ‘ I Once Owned Over 100,000 Bitcoins, But Is Not The Founder of EOS’ Bitcoin

Chinese Legendary Crypto Investor Li Xiaolai : ‘ I Once Owned Over 100,000 Bitcoins, But Is Not The Founder of EOS’

Li Xiaolai , the Chinese legendary bitcoin investor and a key figure in the cryptocurrency world,  acknowledged that he once held a six-figure sum of bitcoins and is the investor rather than a co-founder of the record-breaking ICO,EOS, in a recent interview with tech entrepreneur Wang Feng. Wang: It is said that blockchain has disturbed China’s internet landscape ,leading to a shift in overall conflicts of internet industry. What’s your opinion? Li: Some people call blockchain “Classical Internet”, but I do not agree with it. There is no so-called “classical internet” and blockchain is just part of the internet. Wang: A rumor is...
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Bitmain Woo Talent from Taiwan, Chip Designer of MTK Are Targeted Bitcoin

Bitmain Woo Talent from Taiwan, Chip Designer of MTK Are Targeted

Cryptocurrency boom leads to the rise of mining rigs. China is a big power in mining rig production, with Bitmain (Antminer), Canaan (Avalon) and Ebang (Ebit) -world’s top three mining rig manufacturers all based in China, taking up 90% of the market share. It is reported that the big three are gonna set their foot on Taiwan, offering quite competitive salary to poach talent from world leading IC designers MTK and Mstar. Taiwan Semiconductor Manufacturing Company (TSMC) previously disclosed that it has a quarterly revenue around $340 million from the cryptocurrency business. Foreign analysts speculated that High Speed Computing (HPC)...
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Yang Linke Posted a 2018 Work Plan of Bitcoin Diamond on Weibo Bitcoin

Yang Linke Posted a 2018 Work Plan of Bitcoin Diamond on Weibo

5 May, Yang Linke, Chinese community leader of Bitcoin Diamond (BTD), launched his future plans of work in 2018 on Weibo. Yang Linke stated that BTD is still the core of his work and the BTD team has started their new work year. There are 3 main points in Yang’s BTD work plan. First of all, the top priority of this month, is to launch Bitcoin Diamond at all the exchanges in China and also provide the account charge and withdraw services. Yang Linke explained that, the whole BTD team definitely wanted to enable the users to trade their BTD...
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A Bitcoin-Related Domain Name  Sold  For 350,000 Yuan Within Seconds Bitcoin

A Bitcoin-Related Domain Name Sold For 350,000 Yuan Within Seconds

Bitcoin and blockchain mania has reached a fever pitch recently around the world, a fact made further apparent by the recent surge in the price of weisite domain names related to cryptocurrency, especially to bitcoin. eibtc.com, a domain name of only five letters, was sold out in a second for 350,000 yuan , or $ 55,210 on March 5, after it was listed for sale on a Chinese marketplace called wanmi.cc., according to a report of ifeng. This domain name is consisted of tow parts : ei and btc, which is suitable to for a cryptocurrency trading website . “btc” represents...
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