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El Extranjero
Member
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Activity: 103
Merit: 10
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December 06, 2013, 04:40:19 PM |
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I hope it does. Gives me a chance to purchase more at a lower price.
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Barek
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December 06, 2013, 05:02:50 PM |
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Baidu music service? Great translation  Oh, and did they ever fully implement Bitcoin payments? One payment address for everything ain't how Bitcoin works. Announcement in Chinese: http://jiasule.baidu.com/news/525cd5aabf9efd699f800e7e/Baidu Jiasule, a CloudFlare-like anti-DDOS service by Baidu (NASDAQ:BIDU), today announce that they accept bitcoin for payment. This is the first service of this kind accepts bitcoin (in the whole world, not just China). If you don't know what is Baidu: it is the Google of China. |
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AuroraHF (OP)
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December 06, 2013, 05:13:51 PM |
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Baidu music service? Great translation Oh, and did they ever fully implement Bitcoin payments? One payment address for everything ain't how Bitcoin works. Announcement in Chinese: http://jiasule.baidu.com/news/525cd5aabf9efd699f800e7e/Baidu Jiasule, a CloudFlare-like anti-DDOS service by Baidu (NASDAQ:BIDU), today announce that they accept bitcoin for payment. This is the first service of this kind accepts bitcoin (in the whole world, not just China). If you don't know what is Baidu: it is the Google of China. Apparently that is what is translated by Google Translate. I read it myself but I didn't understand some of the parts. |
lmao
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Carlton Banks
Legendary
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Activity: 3430
Merit: 3074
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December 06, 2013, 05:28:44 PM |
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They have no established Bitpay style provider in China, although I'm pretty sure one is being started up. This move does make sense in light of that fact, mp3s are such tiny one-off payments that it's difficult to account for wild daily price swings. Jiasule is a different, as it's subscription based service contract type model, and not one-off like mp3 sales.
The big surprise is that news of the Baidu mp3 service accepting BTC didn't make it out of China, I never heard that news anywhere.
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Vires in numeris
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Barek
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December 06, 2013, 06:00:06 PM |
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The big surprise is that news of the Baidu mp3 service accepting BTC didn't make it out of China, I never heard that news anywhere.
So Baidu Jiasule still accepts bitcoin, but a music service that people were unaware about no longer does? That explains why the price in China barely moved. I guess speculators on Mt.Gox decided it was good enough and sold some. |
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bryant.coleman
Legendary
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Activity: 3696
Merit: 1217
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December 06, 2013, 06:01:24 PM |
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This particular piece of news didn't had much of an effect with any of the exchanges. There was a slight drop, from 6,200 CNY to 5,900 CNY. Now seems to be stabilizing at that figure.
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Barek
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December 06, 2013, 06:04:51 PM |
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Well, Mt.Gox dropped about 10%.
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bryant.coleman
Legendary
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Activity: 3696
Merit: 1217
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December 06, 2013, 06:08:18 PM |
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Well, Mt.Gox dropped about 10%.
Damn.... Gox is down to 970 from 1,200. Now the crash is around 20%. May be this is a good time to buy... at 900 levels in Gox and at 860-875 levels in Bitstamp. |
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Barek
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December 06, 2013, 06:14:23 PM |
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On the other hand, 6000 CNY is roughly worth $980. So it's hard to tell if it will sharply go up again. I'm sure the folks in Speculation will tell you all about it.  |
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beetcoin
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December 06, 2013, 06:16:34 PM |
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are they saying that the flucuating prices of BTC is making it too risky for them to accept BTC? they started accepting BTC when ti was $130 per coin.. sounds like a front for "we are scared of government."
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Qantaqa
Newbie
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Activity: 39
Merit: 0
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December 06, 2013, 07:00:45 PM |
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News sites are picking up this rather slowly, while the price is crashing hard.
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Carlton Banks
Legendary
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Activity: 3430
Merit: 3074
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December 06, 2013, 07:09:31 PM |
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are they saying that the flucuating prices of BTC is making it too risky for them to accept BTC? they started accepting BTC when ti was $130 per coin.. sounds like a front for "we are scared of government."
They kind of are the government. All these large Chinese firms have state officials working there in high-up positions, calling big moves. The idea that one of those guys at Baidu just nonchalantly decided to start accepting stateless internet money without running it past the central planners, well, that's pretty laughable. |
Vires in numeris
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beetcoin
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December 06, 2013, 07:16:37 PM |
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are they saying that the flucuating prices of BTC is making it too risky for them to accept BTC? they started accepting BTC when ti was $130 per coin.. sounds like a front for "we are scared of government."
They kind of are the government. All these large Chinese firms have state officials working there in high-up positions, calling big moves. The idea that one of those guys at Baidu just nonchalantly decided to start accepting stateless internet money without running it past the central planners, well, that's pretty laughable. maybe the people at baidu decided that they had a lot of friends and family who wanted to invest more into BTC. i guess they didn't make enough in the last rally. |
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Chris180Z
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December 06, 2013, 07:43:26 PM |
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Great. Glad I held off yesterday as I was looking to buy 1btc  . |
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bryant.coleman
Legendary
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Activity: 3696
Merit: 1217
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December 07, 2013, 02:20:39 AM |
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Gox is fluctuating at 700-750 levels. If I had money, I'd have bought a few coins....
The main reason for this crash is not China banning banks from BTCs. The reason is that Baidu dumped BTCs due to high volatility.
People feel a bit nervous, as they think that other online / retail stores will also follow the suit.
You can't blame them either. The value has declined by ~45% in the last 24 hours.
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flexgroo
Newbie
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Activity: 56
Merit: 0
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December 07, 2013, 04:44:51 AM |
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so i guess its about time to save my 10k dollars i was going to spend on a miner and just buy bitcoins....
anyone know the best place to buy coins and send to block chain wallet?
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AuroraHF (OP)
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December 07, 2013, 04:45:52 AM |
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so i guess its about time to save my 10k dollars i was going to spend on a miner and just buy bitcoins....
anyone know the best place to buy coins and send to block chain wallet?
I would recommend Coinbase if you're in the US. |
lmao
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ksteve96
Full Member
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Activity: 624
Merit: 125
alcedoplatform.com
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December 07, 2013, 04:51:08 AM |
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so i guess its about time to save my 10k dollars i was going to spend on a miner and just buy bitcoins....
anyone know the best place to buy coins and send to block chain wallet?
Don't put 10k worth of coin on blockchain's wallet. Use your own wallet and keep it secure. This has been said so many times I won't even expand on it. |
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bryant.coleman
Legendary
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Activity: 3696
Merit: 1217
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December 07, 2013, 04:56:43 AM |
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so i guess its about time to save my 10k dollars i was going to spend on a miner and just buy bitcoins....
anyone know the best place to buy coins and send to block chain wallet?
I would recommend that. It seems that the price-dip is temporary. You can buy 10K worth of bitcoins using fiat right now... and can sell it later for 12K. Mining will never be profitable. Never ever. |
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