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| October 21, 2018

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China’s economic growth slows to its lowest pace since early 2009

October 20, 2018 |

China’s economy is growing at the slowest pace since the depths of the financial crisis in early 2009, according to newly released official data that heightens pressure on the leaders in Beijing navigating a trade dispute with the United States.

China’s National Bureau of Statistics said Friday…


L.A. Times – Business

CNN

China’s economy is growing at its slowest pace since the financial crisis

October 19, 2018 |

China’s economic slowdown is deepening as its trade war with the United States gets worse.
CNN.com – RSS Channel – World

CNN

How China’s video game crackdown caused a $200 billion stock wipeout for Tencent

October 17, 2018 |

China’s crackdown on video games has hammered one of its most valuable companies. And it’s unclear when the situation will improve.
CNN.com – RSS Channel – World

The Daily: Whales Join China’s Richest Ranks, Seniors Take a Swing at Bitcoin

October 11, 2018 |

The Daily: Whales Join China’s Richest Ranks, Seniors Take a Swing at Bitcoin

In today’s edition of The Daily, we look at the cryptocurrency entrepreneurs who now rank among the richest people in China, the limited return to operations of 1Broker, and a rather amusing attempt to explain Bitcoin to older folks by the AARP.

Also Read: London’s LBX Launches Solution for Bank-Shunned Crypto Companies

China’s Wealthiest Whales

The Daily: Whales Join China’s Richest Ranks, Seniors Take a Swing at BitcoinThe Hurun China Rich List 2018, the Chinese answer to the Forbes 400, was released on Wednesday and for the first time includes a total of 14 people working in the cryptocurrency space. This is the 20th annual ranking of the richest individuals in China, with a wealth cut-off of 2 billion yuan ($ 290 million). A total of 1,893 individuals made the list this year.

Two Bitmain executives — Zhan Ketuan (95th place with 29.5 billion yuan), age 39, and Jihan Wu (204th place with 16.5 billion yuan), age 32 — led the way. The third Chinese crypto whale, 41-year-old Binance founder Zhao Changpeng, took 230th place on the list at roughly 15 billion yuan. The report also noted that the blockchain industry is now officially the fastest-growing source of billionaires in China.

Other well-known crypto personalities on the list include Okex’s founder Star Xu, with 10 billion yuan, who took 354th place, as well as Leon Li of Huobi, who was ranked 556th, with 7 billion yuan.

1Broker to Start Processing
Withdrawal Requests Today

Marshall Islands-registered contracts-for-difference broker 1pool Ltd., which operates the 1Broker brand, has announced that the company will revive some if its functions today. The team tweeted that they will start processing clients’ withdrawal requests at 12:00 (UTC).

Three U.S. agencies took action against the international, bitcoin-funded securities dealer last month, including seizing its website domain for a period. The U.S. authorities alleged at the time that an undercover special agent with the Federal Bureau of Investigation “successfully purchased several security-based swaps on 1Broker’s platform from the U.S. despite not meeting the discretionary investment thresholds required by the federal securities laws.”

‘A Bunch of Computer Code’

The Daily: Whales Join China’s Richest Ranks, Seniors Take a Swing at BitcoinIt can be very difficult to explain the invention of cryptocurrency in a sentence or two, given that it’s a topic involving cryptography, computer science and economics. This is particularly true if one is trying to reach an audience that might be frightened or put off by new technologies and unfamiliar terms.

The AARP (formerly the American Association of Retired Persons) published a glossary of “Wall Street buzzwords” this week to help senior citizens improve their financial literacy and cut away the confusion when talking with high-finance big shots. But the list took a somewhat funny swipe at Bitcoin, while echoing some particularly tired tropes.

The glossary defines Bitcoin as “a bunch of computer code that a bunch of criminals, idealists and speculators agree is worth ‘real’ money. Sadly, its real-money value swings widely, making it impractical except for criminals, idealists and speculators.”

The AARP also defines Blockchain as: “1. A different bunch of computer code containing an unalterable record of a series of transactions. The most famous is a digital ledger recording all bitcoin transfers. 2. A word often uttered by companies hoping to snare investors’ attention — and dollars.”

The rest of the terms were also written in a comical way. For example, one entry defines an ETF as “marry a mutual fund to a stock and this is their baby.”

What do you think about today’s news tidbits? Share your thoughts in the comments section below.


Images courtesy of Shutterstock.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

The post The Daily: Whales Join China’s Richest Ranks, Seniors Take a Swing at Bitcoin appeared first on Bitcoin News.

Bitcoin News

China’s Economy Losing Steam as Trade Fight Starts to Bite

October 1, 2018 |

An intensifying trade brawl with the U.S. is starting to take a heavier toll on China’s economy, as weakening foreign demand and sluggish domestic consumption cause Chinese manufacturers to significantly scale back production.
WSJ.com: What’s News Asia

China’s Oldest Science and Tech Publication Accepts BTC for Subscriptions

September 30, 2018 |

China's Oldest Science and Tech Publication Accepts BTC for Subscriptions

On Sunday China’s oldest tech media publication, Beijing Sci-Tech Report (BSTR) also known as ‘Technology life,’ has announced the business is accepting bitcoin core (BTC) for the magazine’s 2019 subscriptions.

Also read: Launching a Website on the Bitcoin Cash Network Is Now a Reality 

The Publication Beijing Sci-Tech Report Now Accepts BTC for 2019 Subscriptions  

The Beijing Sci-Tech Report (BSTR) is one of the oldest science and technology publications in China. The media organization prints editorials stemming from its ‘Technology Life‘ team of authors, and it also publishes approved content from the well known US science journal Popular Science. This weekend the magazine has announced that it will be accepting BTC for subscriptions towards its 2019 publications. The cost to subscribe to BSTR will be 0.01 BTC (about 450 yuan or $ 65 USD).

China's Oldest Science and Tech Publication Accepts BTC for Subscriptions
@Cnledger reveals the news on Twitter. 

The Beijing based publication has written reports on cryptocurrencies in the past and the use cases of blockchain technology. According to the press release, the announcement to accept BTC was brought about by the magazine’s desire to promote blockchain technology in a real-world setting for “practical actions.”

“For a long time, blockchain technology has also been the object of in-depth tracking reports offered by Beijing Science and Technology Report and Technology Life,” the magazine’s press release details.

China's Oldest Science and Tech Publication Accepts BTC for Subscriptions
The Beijing Sci-Tech Report (BSTR)

Embracing the Payment Technology in Order to Cultivate New Readers

One interesting fact about BSTR accepting bitcoin, the firm says, is that if the price of BTC grows significantly by 2020, they will also offer some refunds to those who have subscribed using the digital currency. A translated BSTR statement explains the publication hopes to “cultivate new readers” by embracing the payment technology.

Beijing Sci-Tech Report is not the only publication that has tried to entice readers by accepting cryptocurrencies. Back in 2014 Time Incorporated announced accepting BTC through Coinbase for subscriptions to Fortune, Good Health, Travel and Leisure, and This Old House. In April of the same year, the Chicago Sun-Times also revealed it would accept BTC for payments. However, both publishing companies have since removed the BTC payment option. Beijing Sci-Tech Report being a technology-oriented magazine may have better luck than its periodical predecessors.

What do you think about Beijing Sci-Tech Report (BSTR) accepting BTC for 2019 subscriptions? Let us know what you think about this story in the comment section below.


Images via Shutterstock, BSTR, and Pixabay.


Want to create your own secure cold storage paper wallet? Check our tools section. 

The post China’s Oldest Science and Tech Publication Accepts BTC for Subscriptions appeared first on Bitcoin News.

Bitcoin News

CNN

Negotiator: US is putting a knife to China’s neck

September 29, 2018 |

China’s deputy trade negotiator on Tuesday acknowledged the challenge in resuming negotiations with the US, saying: “How could you negotiate with someone when he puts a knife on your neck?”
CNN.com – RSS Channel – World

Trump tariffs are good news for China’s sellers of knockoff designer bags

September 21, 2018 |

When President Trump threatens China with more tariffs, Lulu thinks of her commission checks and smiles.

It’s a good time to work in the fake-handbag business.

The shadow industry — already a big moneymaker — stands to reap another windfall from the U.S.-China trade war.

Knockoffs of famous brands…


L.A. Times – Business

China’s Sovereign-Wealth Fund Interested in Buying HNA’s Deutsche Bank Stake

September 13, 2018 |

China’s sovereign-wealth fund and other large investors have expressed interest in potentially buying shares in Deutsche Bank AG from embattled Chinese conglomerate HNA Group Co., according to people familiar with the matter.
WSJ.com: What’s News Asia