Bitcoin has made a leap in the past fortnight. Granted, the rally started two months ago. However, it’s in the past two weeks that the digital currency has made the biggest gains. Currently trading at $7,900, it hit $8250 earlier today, a level it last hit close to a year ago. The other cryptos have also followed the example set by their leader, but BTC has been the biggest gainer by far.
WeChat, the #1 messaging app in China, is also widely used for cryptocurrency transactions. Recently, WeChat Payment has revised the “WeChat Agreement for Payment Service,” which involves the control and regulation of illegal transactions, including cryptocurrency transactions. The revised agreement will be put into effect on May 31, 2019.
According to the first, second and third terms of the agreement, direct or disguised engagement in internet gambling, pornographic platforms, internet lottery sales platforms, illegal foreign exchanges, precious metal investment trading platforms, illegal securities and futures trading platforms, token issuance financing and cryptocurrency trading platforms are not allowed on WeChat; asset management business on the internet without the approval of the regulatory authorities is not allowed, as well as illegal transactions such as commodity trading sites, without the approval of the provincial government; and Tenpay, the payment platform of WeChat, shall have the right to stop the payment and settlement services.
As bitcoin’s price edges up, secondhand mining equipment is becoming more profitable to run
As a result, the price of used miners has nearly doubled in recent weeks, to $250-$320 for old Bitmain Antminers
Somewhere between 220,000 and 700,000 mining units could come online this summer
Newer, more powerful models won’t be shipped for months and take longer to pay for themselves
Over the past few years, there has been an increasing focus on autonomous vehicles of all forms, shapes, and sizes. In China, research and development of this new form of transportation has taken an interesting turn. WeRide, a domestic startup, will attempt to launch their first commercial autonomous taxis in two cities later this year. This is done in an effort to rival the likes of Google and Uber.
Commercial Autonomous Taxis Come to China
It is commendable to see so many different companies work on autonomous vehicle technology.
The agency that regulates and manages China’s foreign exchange reserves has developed a blockchain system aimed to address inefficiencies in cross-border trade finance.
As reported by local financial news source CNStock, the State Administration of Foreign Exchange (SAFE) worked with the Hangzhou Blockchain Technology Research Institute to build the open blockchain platform, which uses multi-signature technology to keep transaction content private, revealing details only to the firms involved and regulators such as those relating to customs, taxation, industry and commerce.
The recent bitcoin rally has driven bitcoin mining profits. Profits earned from bitcoin mining have seen a clear rise since the start of April 2019 and hit a near half-a-year high on April 15, 2019.
According to crypto analyst Alex Kruger, the breakeven cost for efficient bitcoin mining operations currently hovers around $3,550 to $4,350, while the price of bitcoin is in the $5,500-plus range at the time of this writing.
This article was originally published by 8btc and written by Lylian Teng.
Many Chinese cryptominers have migrated to places with cheap electricity and favorable policies as a result of the escalated government crackdown on cryptocurrency and its production process.
Any news coming out of China tends to trigger some cryptocurrency market momentum. In recent years, most of the news has been negative, which won’t surprise too many people. In the most recent development, it would appear China’s state planner wants to put an official end to Bitcoin mining in the country. It is one of several dozen activities to be “blacklisted’ in the country.
China Goes After Bitcoin Again
Ever since Bitcoin trading in China took a big hit due to new regulatory measures, the country has continued its effort to thwart any cryptocurrency activity.
China’s state planning agency, the National Development and Reform Commission (NDRC), has indicated an interest in banning cryptocurrency mining in the country through a notice published online in Mandarin.
The report stated that the NDRC will include cryptocurrency mining activities to a list of sectors that could be shut down based on their violation of local regulations, wastefulness, safety concerns or harmful contributions to the environment.
Around two years ago, the idea of potentially transplanting human heads onto different bodies got some attention. While the initial surgery never took place, the surgeon in question has not given up on this idea just yet. Dr. Sergio Canavero, also referred to as “Dr. Frankenstein”, recently announced another breakthrough where head transplants are concerned. He now plans to perform this surgery on a human, assuming a guinea pig can be found.
Dr. Canavero is not Giving up
The concept of transplanting a human head still raises many questions which seemingly can’t be answered right away.
A scandal around the fraudulent actions of a vaccine manufacturer in China has sparking a heated debate over the last week – and now the Chinese cryptocurrency community is suggesting blockchain as a potential solution.
The uproar followed a report from China’s State Drug Administration, which, based on a tip-off, launched an investigation of the company – Changsheng Biotechnology – and found that it had falsified aspects of its rabies vaccine production data.
The news immediately drew widespread criticism both in the country and internationally, amid fears that some vaccines may not be safe to give to children.
China’s central bank has finished work on a blockchain-based system that digitizes checks issued by domestic businesses, according to a senior official.
In an op-ed published by a local news source on Tuesday, Di Gang, deputy head of the digital currency research lab at the People’s Bank of China, said the department has “completed the infrastructure of a system that issues digital checks based on a blockchain with smart contracts technology.
A newly established blockchain industrial park in the Chinese city of Hangzhou is hoping to attract talented individuals and startups by offering millions of dollars-worth of subsidies.
A policy guide announcing the incentives was published on Thursday via the official WeChat account of the Xiong’An Fund (which translates as “Grand Shores Fund”) – the primary operator of the blockchain complex, both of which were launched in April.
Chinese internet giant Tencent has partnered with the tax authority of the city of Shenzhen to use blockchain in the fight against tax evasion.
Announced Thursday, the Shenzhen National Taxation Bureau and Tencent have jointly set up an “Intelligent Tax” innovation lab, that aims to promote technological innovation around taxation processes.
The lab will combine theoretical research with nascent technologies, such as cloud computing, artificial intelligence, blockchain, and Big Data, for taxation management and electronic invoice applications, a release states.
Nearly half of the 26 publicly listed banks in China say they deployed blockchain applications in 2017, according to a report.
Chinese banking industry news source CEBNet said Friday that, among the 26 Chinese banks, 12 of them disclosed in their annual filings that blockchain applications were adopted for various use cases over the last year.
The 12 institutions include major state-owned commercial banks such as the Bank of China, China Construction Bank and the Agriculture Bank of China, as well as other privately held ones, including China Merchants Bank and other city-level entities.
China National Radio (CNR), a high-level government mouthpiece, has aired doubts about the legality of services offered by OKEx, the Hong Kong-based cryptocurrency exchange launched by OKCoin, previously one of the “Big Three” trading platforms in China.
Through its podcast channel “Voice of China” on Thursday and later an article titled “Exchanges that still prevail after the ban,” CNR alleged that OKEx violated rules by offering bitcoin contracts to mainland Chinese investors after it claimed to have moved its business overseas.
Blockchain’s future growth in China will rely on well-designed regulatory and standardization frameworks in the country, according to industry experts.
At the 2018 Bo’Ao Forum for Asia in China’s Hainan province on Tuesday, speakers including Chen Lei, CEO of cloud network provider Xunlei, and Li Lihui, who heads the Blockchain Research Working Group at China’s National Internet Finance Association (NIFA), discussed the latest blockchain developments in China, as well as the tech’s future prospects.
Cryptocurrencies were not brought up for criticism at an annual Chinese consumer protection event, despite rumors to the effect.
Multiple sources had shared rumors with CoinDesk in early March that major policy changes would be announced on Mar. 15 night during a national TV program to curb cryptocurrency activities in China, such as trading and disguised initial coin offerings (ICOs).
The annual show is hosted by China Central Television, the country’s official broadcast mouthpiece, in celebration of the World Consumer Rights Day, during which questionable company conducts are exposed for the sake of public safety.
China has always been a very interesting region to keep an eye on when it comes to cryptocurrency. Unfortunately, that is not always for the right reasons either, which is what makes every bit of news a double-edged blade. In the latest “publicity stunt” Chinese officials are now looking for ways to deanonymize cryptocurrency and blockchain service users.
China Still Dislikes Cryptocurrency
Over the past few years, it has become increasingly apparent China has no real love lost for cryptocurrencies.
As part of its desire to forge deeper ties with the Chinese government, Huobi Group, the parent company of digital asset platform Huobi, has formed a Communist Party committee in China, according to an announcement by the company. The new branch was established by a Huobi subsidiary, Beijing Lianhuo Information Service, and will reside in the Haidian District of the municipality of Beijing.
It is not uncommon for students to get crafty when they aim to mine cryptocurrencies. Some use the “free” electricity of their dorm to mine Ethereum and other altcoins. In China, one entire school seemingly had a secret Ethereum mining operation going for quite some time. Cheap electricity sparks a lot of interesting, albeit not always legitimate, business models moving forward.
Cryptocurrency Mining in China Remains Popular
No one will deny China has always been an awkward country when it comes to Bitcoin and other cryptocurrencies.
China is one of the more interesting regions to keep an eye on when it comes to innovative technological projects. One of the most recent ventures focuses on replacing street lights with a miniature moon. This will be achieved through a so-called illumination satellite, which should be put in orbit by 2020.
An Artificial Moon to Illuminate Streets
There is a case to be made for the project envisioned by Chengdu city officials.
Кто знает подойдет ли этот кошелек для постоянного приема в сатоши? Я просто майнить не решился, но написал несколько ботов для того, чтобы они собирали с кранов монеты. Я так понял, что это веб-кошел...