A Bitcoin Startup Entreprneur’s Meditations on Bitcoin Related Stuffs, Market Analysis, Mining, Adoption etc

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I get used to killing my leisure time with my phone, despite I am familiar with Jack Ma, but I can always obtain some new thoughts and insights when reading about the articles about him every time, so does this time. While I was watching the video How foreigners see Jack Ma, it occurred to me that something must be written.

It’s known to us all that the price of Bitcoin drops endlessly, which drives people crazy. Or we can say Bitcoin has ushered its winter. The following content can well account for that

(一)Various pessimistic remarks on bitcoin emerge one after another, almost all chatting APP/softwares like QQ and Wechat talk little about bitcoin

(二)Mining rigs sales more difficult, fewer and fewer new miners. Even mining difficulty shows a decline, which is the first time in the history of Bitcoin.

(三)Lots of exchanges shut down. Meanwhile, many bitcoin startups is about to fall through or in the dissolution of the edges.

(四)No new face when gathering in a party

(五)The price of bitcoin has no abitily to bounce back despite the bad news on bitcoin proved to be a rumor

(六)News media almost have no interests in bitcoin, no one is willing to report bitcoin related news, such as “Microsoft accepts Bitcoin payment”

(七)Insiders have begun to gradually shake, choosing to shift their attention and funds to other areas.

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Are you beginning to doubt the future of Bitcoin?
Do you now feel more comfortable to hold fiat currency?
Have U lost your interests in what you are doing?

I believe many people are unable to directly answer these questions, including myself.Although I have been holding a large number of Bitcoins, and have engaged myself in this industry for almost a whole year, I still have to admit that I wavered, and I even discussed with my partners whether we should choose doing something else. When I see Ma’s persistence and enthusiasm on his cause from the video, I was deeply shocked, and at the same time, I cannot help but to think what’s my original intention of joining this industry.

Earlier this year, I wrote an article "A few thoughts on the DAC system ", in which article, I roughly described what's on my mind and then I went to Shenzhen, set up the team, founded RockMiner company. Now, one year passed, I have a deeper understanding of this industry. Although temporarily lost has shaken my confidence of this industry, the fortunate thing is that I wake up early, hereby I'm writing this article, to give some encouragement to both the bitcoiners and my team members.

Can u still remember why we feel Bitcoin is an awesome technology?

The best answer is that bitcoin can make a person on the way to fame and fortune. Nowadays, lots of people are ordinary ones, they have no family background, no rights and no good luck, they have to rely on themselves. But the the resources of the world are very limited, and they are earlier occupied firmly, as a ordinary person, you can imagine how hard it would be if you want to get a cup of soup. Some ancient areas such as real estate, energy, communications have already been impossible for you to change your life, but computer and Internet can make it.

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Xiaomi France Accepted Bitcoin Payment, Yes or No?

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Actually, the news that Xiaomi-france accepted Bitcoin payment via Bitpay has been existed for days, as a serious medium, I didn’t post any relevant news before even Chinese people in this industry were almost crazy about this. In fact, the news isn’t as u wished.

After studying, the website http://xiaomi-france.com/ does exist and it’s a normal Xiaomi smart phones e-commerce group purchasing website, the most important thing is it does accept Bitcoin payment.

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But the expression that Xiaomi France accepts Bitcoin payment should be corrected as “A e-commerce platform in France accepts Bitcoin payment” for better and 100% correct understanding. On the one hand, Xiaomi has no French branches or outlets; on the other hand, the official website of Xiaomi doesn’t support French(In other words, Xiaomi hasn’t expanded French market yet) . All in all, the website http://xiaomi-france.com/ has nothing to do with Xiaomi.

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Bitmain Becomes the China’s first Bitcoin Company to Showcase at CES 2015

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The China’s bitcoin company Bitmain, along with nine other bitcoin companies has announced plans to showcase at the Consumer Electronics Show in 2015, in an event called the “World of Bitcoin.” The World of Bitcoin will be the largest and most complete showcase of Bitcoin at the event. The other Bitcoin companies participating at the World of Bitcoin include Bitcoin payment processor BitPay,Circle, Kraken, Blockchain, Bitstamp, Private Internet Access, Robocoin and yBitcoin.

More information? https://www.cryptocoinsnews.com/ten-bitcoin-companies-showcase-ces-2015/

Bitcoins Will be Supplied in More Than 5000 Convenience Stores in Taiwan

KBBEX has formed a strategic partnership with Taiwan renowned bitcoin company, BitoEx, to supply bitcoins in more than 5000 convenience stores in Taiwan. The cooperation turns the development of Taiwan bitcoin industry into a new leaf that bitcoins, the well-known digital currency, walk into the daily-life of Taiwan citizens.

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BitoEX CEO Mr. Cheng Kuang Tai said, “Following the existing 3000+ FamilyMart convenience stores, BitoEX has signed agreements with two other mega convenience store enterprises (OK Mart and Hi-Life), making it now a total number of more than 5,000 locations in Taiwan available for purchasing bitcoins in late 2014. We have chartered KBBEX as our supplier of Bitcoin to BitoEX. We are confident that in collaboration with KBBEX and the associated companies, the recognition of bitcoins will grow and general public would cast their vote of trust to bitcoins.”

In addition, Mr. Patrick Lam, CEO of KBBEX expressed "Bitcoins global markets have entered into a brand new financial era. Bitcoin-related financial tools and its derivatives have attracted billions of investment funds from Wall Street and Silicon Valley. The existing offline transactions (OTC) markets are insufficient to cope with the demand of our worldwide customers, which drives us to open a bitcoin exchange platform. KBBEX plans to launch its China platform whenever users can use onshore Renminbi to perform transactions in early 2015. And we will keep working hard for expanding our network. We strongly believe that globalization is one of the keys to enhancing the development of bitcoin industry. "

Introduction of KBBEX

KBBEX is a Hong Kong-based Bitcoin Exchange Platform, it supports 11 kinds of the world's major trading currencies currently, namely USD, CNH (Offshore RMB), EUR, HKD, GBP, AUD, CAD, CHF, JPY, SGD and NZD for bitcoin trading.

Users can sign up for a free account and trade with nil handling charge in KBBEX at this stage. KBBEX dedicates itself for a simple, professional, secure and multi-currencies offshore bitcoin exchange center. In the near future, KBBEX will expand its services by introducing its bitcoin saving, P2P lending, futures and other derivatives products phase by phase.

Bitcoin Has No Ability to Achieve Wide Adoption in A Short Period

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Bitcoin is a new internet financial industry, and we never suspect its technology, but as a digital currency with a symbol of freedom, Bitcoin does have difficulty in achieving wide adoption. Let’s just think about a question “what’s the point of having a country if people all over the world are in full control of their assets while they’re just required to indulge in their own beliefs?"

Currently, there are too many trading ways on bitcoin market, good or not, it's tough for us to tell. Taking 24-Hours trading as a case, which creates unique conditions for hedge funds, futures and cross-platform arbitrage, but the profit is very limited and objective.

In addition, the sharp increase of the bitcoin practitioners brings heavy burden to this emerging industry. BTW, who is the investor/ payer for mining rigs R&D and production when no new capitals enter this unregulated market?

Source
Author: CHBTC COO 高大尚
Edited and Translated by Bitell