China’s Shoppers Go Bullish on Bitcoin ~ Greg Giles

Although Bitcoins are still not taken very seriously in the United States by politicians as well as investors, China is taking the bold and bullish approach, compiling about 40,000 client downloads a day, while retailers both online and in the county’s marketplaces are showing encouraging acceptance of the computerized means of exchange.  

While China takes the Bitcoin reins by the teeth, politicians in the U.S. perform their usual Marks Brothers routine, with two Senate hearings scheduled for this week where our leaders will commiserate about what dangers Bitcoin poses to our ‘blooming’ economy.  

China already possesses the largest Bitcoin exchange in the world, and one of the county’s flagship internet companies, Baidu (BIDU), which is ranked among the world’s largest, is already accepting Bitcoin. With China’s support, Bitcoin could become the world’s first trillion dollar non-fiat currency.

Greg Giles