OKCoin Refutes Investing Client Funds Into “Wealth Management Products” Claims OtherCoins

OKCoin Refutes Investing Client Funds Into “Wealth Management Products” Claims

One of China’s biggest digital currency exchanges has refuted claims it used clients’ funds to invest in financial products deemed risky. According to state newswire Xinhua in an August 17 report, both Huobi and OKCoin exchanges reportedly invested around 1 billion yuan ($150 million) of idle client funds into “wealth-management products” citing an investigation by the People’s Bank of China. These products in China are often considered high-yielding and risky as they are said to build blocks of a shadow-banking system that exists largely off banks’ balance sheets. Their off-balance value rose 30% in 2016 to exceed 26 trillion yuan...
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Bitcoiner Yuan Wei: Bitcoin Is a Great Investment, But Not a Global Currency OtherCoins

Bitcoiner Yuan Wei: Bitcoin Is a Great Investment, But Not a Global Currency

Who is Yuan Wei? One of the seven writers of the book Bitcoin; Computer major at college; Stock enthusiast for years; A tech-savvy; Never sell one bitcoin in the past 4 years. How has my Attitude to bitcoin changed as I’ve learnt more about it?   I always believe that we should hold bitcoin for long, but my understanding about bitcoin has changed. On May 2013, this is how I told people what bitcoin is. “Bitcoin is a revolutionary technology and it is the money of future. “ However, in 2016, I realized that bitcoin is actually anti-human. It will...
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CCTV2 Covers BTC, BCC, ETH, XRP, LTC and Scaling Solutions BU VS Segwit OtherCoins

CCTV2 Covers BTC, BCC, ETH, XRP, LTC and Scaling Solutions BU VS Segwit

CCTV2 has launched a new series on the global investment trends regarding to bulk stock, cryptocurrencies, real estate and art market. The debut episode this Wednesday focuses on cryptocurrency. The price of bitcoin hit a new record high of about $3500 this Tuesday. Chen Qian, a Singapore-based CNBC commentator analyzed the performance of such four cryptocurrencies as BTC, ETH, XRP and LTC. The open price of bitcoin was $968.23 on the first day of 2017 and spiked to $3018 in June. Bitcoin price closed at $2873.83 on July 31. “The cryptocurrency market has enjoyed a bull run over the past...
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Mobile Wallet Bitkan Launches Bitcoin Cash OTC Trading Service OtherCoins

Mobile Wallet Bitkan Launches Bitcoin Cash OTC Trading Service

Bitcoin-focused data and trading services provider Bitkan has officially announced the launch of BCC OTC trade. The new OTC service allows Bitkan app users to trade BCC outside the online exchanges at competitive prices. When BCC appeared earlier this month, founder of ViaBTC Yang Haibo stated that they were not going to give BCC a Chinese name and a logo. This was used to confirm a conspiracy theory that BCC is trying to steal the brand of BTC. In the Chinese community, some call the new coin Bitmain Coin and some a fake forked coin. Foreign bitcoin holders also have...
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The Upper Limit of 21 Million Makes Bitcoin a Perfect Speculative Tool Instead of a Currency OtherCoins

The Upper Limit of 21 Million Makes Bitcoin a Perfect Speculative Tool Instead of a Currency

Note: The article is written by an anonymous bitcoin holder. Will Bitcoin become a world currency? I guess it will be the next” scaling discussion” that would be dragged on for years.  The answer is so simple: NO! Isn’t it a common sense that any deflationary bias currencies are inherently speculative? Let’s assume that the total supply of CNY is capped at the limit of 1000 million. If you have 100 million, it means that you are the top 10 richest person once and for all, which is like stealing wealth of the future generation. This is totally unacceptable. The upper...
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Op-Ed: Bitcoin scaling is pushed by the minority who “play for real” OtherCoins

Op-Ed: Bitcoin scaling is pushed by the minority who “play for real”

Chapter 0 Introduction What is the determining force that affects the development of Bitcoin’s onchain scaling? Three groups, users,miners and developers, almost unanimously hope to onchain scaling, except as mall part of bitcoin core developers. Most obstacles to the hard fork have been eliminated bu the obstacle from the Core developers cannot be passed. Why?  I have always been confused about this. I once read one article in Wan Weigang’s Elite Daily Class, which cited one article of Taleb—The Most Intolerant Wins:The Dictatorship of the  Minority. This article analyzed one principle from the perspective of philosophers and clearly explained that people...
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One Bitcoin Helps One Family Get Through Dark Times OtherCoins

One Bitcoin Helps One Family Get Through Dark Times

It all started with an email. One night(June 4), when I was closing my eyes while meditating, my phone was suddenly ringing on an incoming message. (I knew I should have turned off my cell phone!) It was an email from a stranger with the title of “BITVC.com”. The email reads: Hi Cindy, Do you have an email address for bitvc.com support? huobi is no longer supporting btc. I chatted with them via their site and they kept insisting they have nothing to do with bitvc and could not support me. My inquiry is in regards to getting my coins off bitvc.com as they stopped...
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Switching to Altcoins? Can They Sustain Upward Trend? OtherCoins

Switching to Altcoins? Can They Sustain Upward Trend?

When attended The Global Blockchain Conference of 2017 in Chengdu, I met some new faces who just stepped into the cryptocurrency world. The next thing I knew, I was besieged with a barrage of questions about investment in cryptocurrencies. Is it a good idea to buy Bitshares? Is Ripple a good investment? Will bitcoin be surpassed by ETH? So I wrote this short article to share some of my ideas with them. Is Bitshares a good investment? Honestly, I don’t know it either. I have some friends who started buying Bitshares at the price of 0.05 yuan, and they urged...
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Shanghai Closes All Token Trading and Executives Are Asked to Stay in Place OtherCoins

Shanghai Closes All Token Trading and Executives Are Asked to Stay in Place

Cryptocurrency exchanges in Shanghai this week are asked to close all token trading services, including BTC/CNY, ETH/CNY and other trading pairs. The latest move means that bitcoin trades on secondary markets are excluded from exchanges in Shanghai. Beijing regulatory authorities haven’t released any notice on closing cryptocurrency trading pairs. OK and Huobi on Sept 15 announced that they would only suspend CNY-related businesses and other services are not affected. But on the very next day, they revised the notice saying they are to stop all cryptocurrency trading. How long will the condition persist? On Sept 22, vice president of the...
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Unsolved Mystery of the Cryptocurrency World: Has the PBOC Given the Green Light for Bitcoin Withdrawal? OtherCoins

Unsolved Mystery of the Cryptocurrency World: Has the PBOC Given the Green Light for Bitcoin Withdrawal?

Last Wednesday, Okcoin took the lead and announced that they would allow 20 bitcoins to be withdrawn per day. And followed by Okcoin, BTCC and Huobi resumed their bitcoin and litecoin withdrawals. As Chinese bitcoiners are buzzing about the withdrawal, they are all asking the same question: has the PBOC finally allowed the big three to do so? Operators at Okcoin claims that it has nothing with the PBOC. “After talking with other industrial players, we reached the consensus that it is a good timing to resume bitcoin withdrawal. Plus, the PBOC never asked us to suspend bitcoin services, we...
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