Want China Times, Xinhua 2013-12-05
Bitcoin has seen another round of price surges worldwide this week, and researchers have said its popularity among Chinese investors may be contributing to the bull market.
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| An apt illustration of the bitcoin phenomenon. (Illustration/Xinhua) |
Bitcoin has seen another round of price surges worldwide this week, and researchers have said its popularity among Chinese investors may be contributing to the bull market.
The price
of 1 bitcoin, an open-source peer-to-peer digital currency, stood at about
US$1,117 on Wednesday on Mt. Gox, the world's best-known bitcoin trading
platform. At the same time, the price of gold per ounce on the New York
Mercantile Exchange was about US$1,214.
An
estimated 1.8 million bitcoins were traded on BTC China in November, the
platform with the highest trading volume in the world, according to statistics
gathered by Bitcoin Charts, a popular website which provides financial and
technical data related to the bitcoin network.
BTC China
is China's largest bitcoin trading platform aimed at investors trading in
renminbi.
Mt. Gox
ranked second in trading volume in November, with nearly 700,000 bitcoins
traded, according to the website.
Ling Kang,
vice president of BTC China, said 92% of its users are male, 93% are younger
than 40 years old, and 90% have a Bachelor's degree or higher. Most users work
in the IT industry, she added.
Some
economists say bitcoin has heated up at a time when Chinese people are
searching for new investment channels.
"Inflation
has made people worry. Investors have bought bitcoin to battle renminbi
devaluation," said Ding Zhaoyong, associate professor at the Finance
Department of the Economics School of Jilin University.
Bitcoin
first came into the public eye in China in April of this year, when movie star
Jet Li's One Foundation received a donation of several hundred bitcoins to help
quake-stricken Sichuan province.
The
currency has been heating up ever since, especially after the Chinese media
reported in October that Canada had set up the first bitcoin ATM machine.
Related Articles:
"Recalibration of Free Choice"– Mar 3, 2012 (Kryon Channelling by Lee Carroll) - (Subjects: (Old) Souls, Midpoint on 21-12-2012, Shift of Human Consciousness, Black & White vs. Color, 1 - Spirituality (Religions) shifting, Loose a Pope “soon”, 2 - Humans will change react to drama, 3 - Civilizations/Population on Earth, 4 - Alternate energy sources (Geothermal, Tidal (Paddle wheels), Wind), 5 – Financials Institutes/concepts will change (Integrity – Ethical) , 6 - News/Media/TV to change, 7 – Big Pharmaceutical company will collapse “soon”, (Keep people sick), (Integrity – Ethical) 8 – Wars will be over on Earth, Global Unity, … etc.) - (Text version)
.... 5. Integrity That May Surprise…
Number five: There will be those who think it impossible to have a search for integrity and fairness in all things. In other words, Human Beings will not simply go with what they are told is the status quo. They will look at it and they will say, "Well, I think it could be better. I'm going to look around for something that has more integrity and fairness." Yes, there will be those who tell you, "Look, the institutions hold all the cards and you have to do it their way. If you want health insurance or you want loans from the banks for your home, you better do it their way." I have news for you. Even this is going to change.
"What are you going to do?" the Human asks. "They hold all the power!" In the past, there was nothing you could do. Now I'll tell you what the potentials are. You're going to pull out the puzzle and look past the walls of the maze. You're going to say, "Well, then I'll start my own institution." And some will. The new institutions, based on integrity, will sweep right past an old energy. In other words, there will be those who are young today who are going to start a new way of banking, a new way of health care, and a new way of insurance. And when you see these plans, you'll say, "Why didn't we think of that?"
Have you seen innovation and invention in the past decade that required thinking out of the box of an old reality? Indeed, you have. I can't tell you what's coming, because you haven't thought of it yet! But the potentials of it are looming large. Let me give you an example, Let us say that 20 years ago, you predicted that there would be something called the Internet on a device you don't really have yet using technology that you can't imagine. You will have full libraries, buildings filled with books, in your hand - a worldwide encyclopedia of everything knowable, with the ability to look it up instantly! Not only that, but that look-up service isn't going to cost a penny! You can call friends and see them on a video screen, and it won't cost a penny! No matter how long you use this service and to what depth you use it, the service itself will be free.
Now, anyone listening to you back then would perhaps have said, "Even if we can believe the technological part, which we think is impossible, everything costs something. There has to be a charge for it! Otherwise, how would they stay in business?" The answer is this: With new invention comes new paradigms of business. You don't know what you don't know, so don't decide in advance what you think is coming based on an old energy world. .."
Now, anyone listening to you back then would perhaps have said, "Even if we can believe the technological part, which we think is impossible, everything costs something. There has to be a charge for it! Otherwise, how would they stay in business?" The answer is this: With new invention comes new paradigms of business. You don't know what you don't know, so don't decide in advance what you think is coming based on an old energy world. .."
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