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Author Topic: 2013-05-07 [China] Xinhua: Bitcoin believers: Internet changed the world  (Read 1020 times)
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May 07, 2013, 08:56:06 PM

New Bitcoin coverage today in China that seems to confirm/complement the video segment from last week.

Xinhua News Agency is the official press agency of the PRC and the largest news agency in China.

Article reads very positive although poor choice of image would seem to imply otherwise.

Via Google Translate:

What the fastest appreciation in the last three years? Silver? Antique? Or rare earth? No, not a process called Bitcoin virtual currency, in three years time, the appreciation of the times, up to $ 266 / month.

According to Bitcoin largest trading platform MtGox, real-time quotes, as of 17:00 yesterday, a Bitcoin can be exchanged for 758 yuan.

Bitcoin has prompted a lot of people into the ranks of millionaires, millionaires are also many early players, especially the real bitcoiner no one is losing money. "Friends" Discus Fish "and" international financial "reporter chat Speaking, bitcoiner promising Bitcoin beliefs and values, I believe it will change the world, just like the Internet.

Discus Fish is one of the group of people earlier contact Bitcoin. The circle of domestic Bitcoin Bitcoin enthusiasts which claimed to "BTCer". He said Bitcoin sustenance beliefs of a group of skilled home. 2011 when playing, a Bitcoin is only worth a few dollars. "Discus Fish" until the second half of last year, the value of the Bitcoin has been raised to $ 20 / month.

Bitcoin and the vast majority of the world's currency exchange. Most players are in the secondary market to buy bitcoins, but "Discus Fish" told reporters bitcoiner the more interested in their own mining bitcoin mining.

According to reports, the mining principle is a set of very complex encryption and decryption algorithm to do the computation of the discrete series, and then evenly distributed to all these people connected to the Internet mining, who contributed more computing power, who assigned it more.

"Discus Fish" and several other players from the United States bought five mining machine. However, the Bitcoin "gold mine" is not inexhaustible, According to founder Nakamoto design, the total amount of bitcoins only 21 million, the current Bitcoin currency production speed every 10 25 minutes Bitcoin. But every four years, the number of bitcoins output is cut in half until it reaches the maximum number. With the increase of mining, each participant can be dug coins will be less and less.

Therefore, for the miners, time is very valuable. "Discus Fish" several mining almost around the clock to be calculated, the cost of electricity per day reached 60 yuan, while the the global daily "mining" the cost of electricity is as high as $ 150,000.

Although the Bitcoin the invisible virtual currency, but it has become can not be ignored. April 23, 2013, the One Foundation announced that it has received intention to donate 50 Bitcoin. Thus, the One Foundation to become China's first NGO (non-governmental organizations) to accept Bitcoin donations, Bitcoin is also the first in China to become donations.

"I have a lot of domain names and VPS (Virtual Private Server) are purchased through Bitcoin, thus eliminating the need for the use of credit cards and exchange complex steps. Currency to buy the remaining part of the bit bitcoin company's stock, there is hoarding and speculation currency. "Discus Fish told reporters, in fact, bicoin has now changed the way of life of many people, especially foreigners and the sea shoppers.

Bitcoin has quietly into China. In the the Bitcoin Chinese network, you can look like a convert to real-time view Bitcoin national currencies exchange market on a daily basis, including the renminbi. In addition to the Bitcoin Chinese net "of these individuals to create bitcoins website, Taobao shop is also convertible main venues. Taobao enter keyword "Bitcoin can search nearly 240 shops do Bitcoin exchange business, but also a small amount of shops accept Bitcoin payment.

Some of these shops are located in Beijing, Shanghai and other cities, some in Tai'an, Shandong, Guangxi Yulin, Huaian, second and third tier cities. Reporter noted that a Taobao selling antique jewelry, 5R - antique shops to accept Bitcoin payment, the owner said he was optimistic about the Bitcoin, I believe there will be more people use Bitcoin.
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