Tag: China Chinese Bitcoin
Why the Chinese can’t get enough of Bitcoin
December 9, 2013
Christian Science Monitor – At the Garage Café, a dimly lit magnet for young programmers and entrepreneurs in Beijing’s hi-tech Zhongguancun district, one topic dominates the low hum of conversation: Bitcoin. The crypto-currency’s value has soared more than fivefold over the past month, driven in large part by hectic speculative trading on Chinese exchanges. “Most of our customers talk Bitcoin, and some of them trade as much as ten million RMB’s worth ($1.6 million) at a time,” says Xu Tianhai, who manages the Garage. Now they are holding their breath, in the wake of a Chinese Central Bank notice Thursday that banned…