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Despite Bitcoin’s Price Drop, High-Powered Mining Rigs Still Profit


Since BTC prices slid below the $8K price range, mining operations have been making less revenue. On Sunday, December 1, only 13 mining rigs with an average electricity cost of $0.12 per kWh are profiting at current prices. Of course, miners from China and other regions pay far less per kWh...

‘In Small Steps’ China Cuts Benchmark Interest Rates


Careful not to rush too much with stimulus, the Chinese government nevertheless realizes that its behemoth economy is invariably slowing down. New loan interest rate cuts have been announced recently to encourage bank lending and borrowing in the private sector. With a brewing liquidity crisis...

Crypto Employees in China Work From Home to Avoid Government Pressure


Not too long after embracing blockchain, Beijing has made it clear, one way or the other, that it didn’t mean Bitcoin. Increased scrutiny over the cryptocurrency sector and harsh measures against some companies have been implemented to supposedly protect citizens from scams. Sources say...

Is Plustoken to Blame for Bitcoin’s Sell-Off?


Armchair theorists love postulating the reasons behind bitcoin’s latest price rise or sell-off. From China FUD to exchange hacks, anything and everything is fair game for blame. Plustoken is the latest bitcoin bear-maker that’s being credited with the last three months of downward price...

Another Bank Run Highlights China’s Brewing Financial Crisis


A regional lender has become the latest victim of the growing liquidity crunch in the world’s most populous country. Yingkou Coastal Bank, operating in the northeastern Chinese province of Liaoning, is the second institution within less than a month to see its financial stability threatened...

First Five Victims of Renewed China's Crackdown on Crypto Announced


Recently, at least five local Chinese crypto exchanges have halted operations or announced they will no longer serve domestic users as the country started a new crackdown on crypto trading. Last week, Chinese exchange operators Bitsoda and Akdex announced termination of service, according...

Gold and Silver Follow Similar Trend to Bitcoin, React to News About China


With crypto prices moving after almost every positive or negative bit of news related to China, gold and silver markets have been reacting to such events as well. With some exceptions, the overall trend in their value has been negative since September. The prospects of both digital coins...

Goldman Sachs Alumnus: China Will Eventually Legalize Crypto Exchanges


Before China legalizes cryptocurrency exchanges, crypto must become "a real asset class," according to a co-founder of a Singapore based hedge fund, Spartan Capital. “There is nothing sinister or worrying about this round of crackdown, nor is this the first time it has happened in China,” but...

Don’t Blame China: Why BTC Still Can’t Compete With Fiat


In the wake of recent price movements, doubts are beginning to crop up more and more around BTC maximalist circles. As focus shifts from Satoshi’s founding vision of the coin as cash to a mere digital gold to be saved and “cashed out” later, valid questions are indeed raised....

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