Posts Tagged
‘Renminbi’

One of the key Bitcoin issues is concentration of miners. Concentration in Bitcoin markets occurs primarily due to high cost of energy used in mining. Bitfury, one of the largest miners on the market today already holds roughly 11 percent of the total mining power and is planning a major expansion. In mining equipment, Bitmain […]

Recently Russia announced that it will be unleashing a CryptoRuble, just a week after Vladimir Putin strongly criticized Bitcoin and other private cryptocurrencies. When announcing the move, Minister of Communications Nikolay Nikiforov acknowledged that it was in part inspired by the aim of getting ahead of other governments: I confidently declare that we run CryptoRuble […]

For those who can’t quite reconcile the Chinese government’s tentative acceptance of bitcoin and other cryptocurrencies with the inherently anarchistic principles espoused by bitcoin’s creator, here’s yet another clue to support the theory that the Chinese government has decided to tolerate and regulate digital currencies in hopes of learning how to apply the technology to […]

This is a syndicated repost courtesy of Credit Bubble Bulletin . To view original, click here. Reposted with permission. An intriguing first quarter. The year began with bullish exuberance for the Trump policy agenda. With the GOP finally in control of Washington, there was now little in the way of healthcare reform, tax cuts/reform, infrastructure […]

There is one reason why bitcoin quickly became the darling of HFT and various high speed algo traders operating out of China and the rest of the world: domestic transactions were “frictionless”, as there were no fees on buys or sells. Until last night, that is, because as China’s three largest bitcoin exchanges, BTCC, Huobi […]

While in recent months, the PBOC had tried to mask the real pace of reserve outflows, covering up the accelerated selling of US-denominated assets to defend its rapidly devaluing currency, we noted in October that using more accurate calculations, China’s capital outflows are once again surging, having hit $78 billion in September. Overnight, China, unable […]

While all eyes were on India (as rumors swirled of an imminent gold import ban), The FT reports that China curbed gold imports in the wake of government attempts to clamp down on capital leaving the country, according to traders and bankers. Some banks with licences have recently had difficulty obtaining approval to import gold, […]

Recently, the Chinese currency fell to its lowest level since late 2008. The renminbi has been trading around 6.92 to the US dollar. The plunge is typically explained with the anticipated US Federal Reserve rate increase in December and president-elect Donald Trump‘s threat to label China a currency manipulator and slap tariffs on Chinese exports. […]

“Bitcoin as money, that’s the killer app.” Bobby Lee, CEO of BTCC, has high hopes for Mobi, the bitcoin exchange startup’s new mobile app, released at Money2020 in Las Vegas today. In contrast to other hosted wallets, Lee argues that Mobi succeeds at a difficult balance of being both “bitcoin first” and accessible to a […]

Global online payments platform Circle is making moves in China. Circle aims to connect renminbi to western countries and also service 120 million Chinese travellers heading overseas each year. The Circle mantra is to make payments as easy as sending email, which it does using its own internal treasuries within the app, and also using […]