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Bitcoin Mining Mega Summit Held in Chengdu

Bitcoin Mining Mega Summit Held in Chengdu

Bitcoin wouldn’t be much without miners. The mining community is essential to maintaining Bitcoin & its blockchain. Initially Bitcoin mining was an endeavor taken on by hobbyists and computer geeks, who dedicated their computers and electricity. Miners are of course rewarded for their efforts, as they receive “block rewards” for mining. This is the incentive...

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MicroBT Expects $400 Million in Q3 as Bitcoin Miner Sales Surge

MicroBT Expects $400 Million in Q3 as Bitcoin Miner Sales Surge

MicroBT, the maker of WhatsMiner bitcoin mining equipment, says it has made about $400 million in just a few months, despite delays to its chip supply. Yang Zuoxing, founder and CEO of the Shenzhen, China-based firm, said in a keynote speech at the New Era Mining Summit hosted by mining pool Poolin on Sunday that...

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PBOC: China’s fiat digital currency will not launch in November

PBOC: China’s fiat digital currency will not launch in November

The central bank-issued digital currency will not be ready in November as widely speculated, the People’s Bank of China (PBOC) said on Saturday in a statement to Piyao, China’s official rumor-fighting platform. The bank also said that reports saying Alibaba and Tencent would be among the first financial institutions to receive the currency was inaccurate. Why...

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China’s Online Payment Platforms Are The Real Threat To US Hegemony

China’s Online Payment Platforms Are The Real Threat To US Hegemony

“How would you like to pay for that, sir?” For most of my lifetime, there have been three possible answers to that question: cash, a cheque or a plastic card. Go to Beijing, however, and you will see few transactions in those forms. People pay with their phones, using systems created by the two biggest...

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Binance Co-founder: ‘Adding Fiat-to-Crypto OTC Trading in a Month’

Binance Co-founder: ‘Adding Fiat-to-Crypto OTC Trading in a Month’

Crypto exchange Binance is planning to add over-the-counter (OTC) trading to its platform in a month to provide users with fiat currency gateways. Binance’s co-founder and chief marketing officer He Yi said at a media session on Tuesday during the Shanghai Blockchain Week that the exchange will specifically support fiat on-ramp via OTC for Chinese...

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Bobby Lee: Chinese Always Saw Bitcoin as Investment, Not for Payments

Bobby Lee: Chinese Always Saw Bitcoin as Investment, Not for Payments

Bobby Lee — co-founder and former CEO of China’s first crypto exchange BTCC — says the Chinese have always thought of Bitcoin as an investment rather than a payment system.  Lee made his remarks during an interview for Charlie Shrem’s Untold Stories podcast on Sept. 18. Designed for non-geek users Beyond sharing his reflections on the Chinese...

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China’s Inner Mongolia to Shutter ‘Illegal’ Bitcoin Miners by October

China’s Inner Mongolia to Shutter ‘Illegal’ Bitcoin Miners by October

China’s Inner Mongolia autonomous region is carrying out an inspection to eliminate “illegal” bitcoin mining operations by October, confirming a local report. The official document detailing the inspection plan was leaked to Chinese media which published photos of the decree from the Inner Mongolian regional authority. “The inspection is directed by the central government, rather...

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Fake Exchange Swindles Crypto Investors by Impersonating Staff of Major Chinese Crypto Exchange

Fake Exchange Swindles Crypto Investors by Impersonating Staff of Major Chinese Crypto Exchange

Impersonating a customer service of major Chinese cryptocurrency exchanges, a fake crypto exchange swindled investors of millions of Chinese yuan. Early this year, a large number of crypto investors reported that they had received calls claiming themselves as staffs of major exchanges such as Huobi, OKEx and Binance, inviting them to watch “the live broadcasting...

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Binance Makes First Investment in China in Crypto Media Firm Valued at $200 Million

Binance Makes First Investment in China in Crypto Media Firm Valued at $200 Million

Binance, one of the top cryptocurrency exchanges in the world, has made its first strategic investment in China, in a cryptocurrency media firm that was valued at $200 million. According to Bloomberg, the crypto media startup, Mars Finance, saw Binance invest in it, along with Ceyuan Ventures and Matrixport, a financial services startup co-founded by Bitmain’s...

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Bitmain Is One Of The Best Places To Work At In China

Bitmain Is One Of The Best Places To Work At In China

Bitcoin mining equipment typically comes from China, which is home for the biggest equipment designers in the world. According to LinkedIn, one of these bitcoin mining rigs has surfaced as a popular destination for job seeker in the world’s second-biggest economy. Said bitcoin rig is Bitmain, which the third biggest and best startup to work...

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