The investment swindler Qian Zhimin has pleaded guilty in a British court. Defrauded people tell how they were deceived by the woman’s brilliant rhetoric.
By Marcel Grzanna
China's relationship with Bitcoin is complex and characterized by a mixture of fascination and caution. Once a center for Bitcoin mining and trading, the Chinese government has taken a number of measures in recent years to restrict cryptocurrency activity in the country. From a complete ban on crypto exchanges and Initial Coin Offerings (ICOs) to recent restrictions on the mining sector, China is clearly taking a restrictive stance. These measures contrast with China's ambitions to play a leading role in blockchain technology and introduce its own central bank digital currency. Read the latest news on Bitcoin and China from the Table.editorial team! What is Bitcoin? Bitcoin is a digital or virtual cryptocurrency that was created in 2009 by an unknown person or group of people under the pseudonym Satoshi Nakamoto. It is a decentralized payment system that works without a central authority or a single administrator. Transactions are conducted directly between users and recorded in a public ledger technology called blockchain, and unlike traditional currencies such as the dollar or the euro, Bitcoin is not issued or regulated by a government or central bank. Instead, it is created through a computerized process called "mining", where complex mathematical problems are solved to add new blocks to the blockchain.Bitcoin was conceived as a way to democratize the financial sector and give people control over their own money. It enables fast and inexpensive transactions across borders without the need for a third party such as a bank.The cryptocurrency has both supporters and critics. Supporters see Bitcoin as a revolution in finance and a way to break away from traditional banking systems. Critics, on the other hand, point to the risks associated with anonymity, volatility and the lack of regulation. What is China's position on Bitcoin? China has a complex relationship with Bitcoin and other cryptocurrencies. In the early years of cryptocurrency, China was a major player in Bitcoin mining and trading. However, since 2017, the Chinese government has taken a number of measures to restrict cryptocurrency-related activities. Here are some key points: Overall, China is rather restrictive towards Bitcoin and other cryptocurrencies, while at the same time promoting the underlying blockchain technology.
