China Embraces Bitcoin – Posing a Threat to the U.S.

China Embraces Bitcoin – Posing a Threat to the U.S.

China investors backed  Coinbase (one of the Bitcoin wallets we’re using) with no hesitation.

Why China poses a threat to the U.S. <= A Fascinating must-read article.

Some highlights:

  • China embraces digital currency, with their experience of the Q coin introduced back in 2002!
  • “China is the perfect place for bitcoin mining. While much of the developed world is well into the transition from personal computers to mobile devices, China’s PC market is still thriving, which provides the necessary computing power to run a successful business converting electricity into mined coins.”
  • China retailers are already accepting Bitcoin
  • With heavily controlled currency in China, Bitcoin is extremely attractive to the Chinese
  • China actually broadcasted a 30-minute Bitcoin documentary!

 

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