Tag Archives: China

Why is Bitcoin Value Rising ?

The ruins of an ancient Chinese watchtower fro...

The ruins of an ancient Chinese watchtower from the Han Dynasty (202 BC – 220 AD), located along what was the old line of rammed-earth fortifications in Dunhuang, Gansu province, China, that once stretched from the Hexi Corridor (in Gansu) to the Tarim Basin (in modern Xinjiang). (Photo credit: Wikipedia)

The Washington Post published an excellent article recently.

The short summary is:

1. Silk Road (A site selling illegal items where payment was Bitcoin only) was closed down. The US Government confirmed it has no problem with Bitcoin as a currency, just the criminals that use it. Just like cash really. The US authorities also seized over $20 Million worth of Bitcoin when it shut down Silk Road, so the US Government is now a stakeholder (big Bitcoin owner).

2. The Chinese are starting to adopt Bitcoin. There are over 1 Billion Chinese people, there will only ever be 21 million Bitcoin, it’s easy maths in my opinion.

Yesterday, it was announced that the BTC China (China’s Bitcoin Exchange) has become the worlds largest exchange by number of coins traded.

The full Washington Post article is here: “Why Bitcoin prices are at a five month high”  I hope you enjoy it.

Also this week the first Bitcoin ATM went live in Vancouver, Canada. You can buy Bitcoin or withdraw Canadian Dollars, perfect.

Last, but not least, a very successful technology entrepreneur raises $9 Million for a Bitcoin start up called Circle, “We’re building digital currency products that make money simpler, safer, and more powerful.”

It’s all great news!

Thanks for reading.

Bitcoin, bitcoin coin, physical bitcoin, bitco...

Bitcoin, bitcoin coin, physical bitcoin, bitcoin photo (Photo credit: antanacoins)

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