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Author Topic: [2017-04-11] Meet the millennials making big money riding China's bitcoin wave  (Read 274 times)
DooMAD
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April 11, 2017, 10:39:03 AM
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"The cryptocurrency may have no physical form but the returns from trading it can be very real – and for some they’re worth giving up your job for"

https://www.theguardian.com/technology/2017/apr/11/meet-the-millennials-making-big-money-riding-chinas-bitcoin-wave

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Bitcoin has no physical form but the rewards are very tangible; Yang’s home is packed full of expensive gadgetry, most prominently a mega-sized flat screen smart board, over a metre wide, which Yang uses to chart bitcoin’s rise and fall in HD.

Normally, the graphs on Yang’s screen show bitcoin’s and his own fortunes going up and up. At the time of writing, one bitcoin is worth 6,600 yuan (£768) – recent months have seen the value hover well above 8,000 yuan. The global worth of bitcoin is over $14bn USD (£11.3bn), of which over 90% is in yuan, and Yang and his peers are cashing in. “I want a more splendid life,” he says.

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April 11, 2017, 11:04:01 AM
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Point being what exactly? that Chinese own the cryptocurrencies markets? I need to correct the market cap of bitcoin from $14B to $19B and that's not even the real value of bitcoin.
Good thing about cryptocurrencies specially bitcoin being decentralized, meaning every one is free to print money(mine coins)so if we envy it's not legit because you and I at any time can be like Yang.
I'm sure we can monitor the charts fine with 14 inch laptops Smiley.

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April 11, 2017, 05:10:35 PM
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" Yang claims to make up to 1m yuan (£116,000) a month, under the radar of the taxman, purely from trading the online cryptocurrency. "

This is not the way people should use Bitcoin and if this is going to be the goal.... you will find that Bitcoin will be banned in those countries. The

governments will not tolerate a technology, where people can avoid paying taxes. Yes, the Libertarians and Anarchist might want this, but the

average Bitcoin user just want a payment option where they control their own money and where no third party can "confiscate" their wealth.  Sad 


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April 13, 2017, 11:35:50 AM
 #4

" Yang claims to make up to 1m yuan (£116,000) a month, under the radar of the taxman, purely from trading the online cryptocurrency. "

This is not the way people should use Bitcoin and if this is going to be the goal.... you will find that Bitcoin will be banned in those countries. The

governments will not tolerate a technology, where people can avoid paying taxes. Yes, the Libertarians and Anarchist might want this, but the

average Bitcoin user just want a payment option where they control their own money and where no third party can "confiscate" their wealth.  Sad 



and I think that  he is doing it right,and well done!
you do not really asking for the goverments to start taxing bitcoins,do you?
also I don't think bitcoin is banned in China or it will be in the future
bitcoin is a pseudoanonymous,decentralised cryptocurrency, it is supposed to be like that
trying to control it,imposing taxes and monitoring your transactions with connection to your real life identity
will be the end of bitcoin

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