Chinese Communist Party-Backed Bitcoin Firm Invests Millions In Texas Crypto Center.

BIT Mining Limited – a China-based company backed by state-run entities with histories of cyber attacks – invested over $25,000,000 into a Texas-based bitcoin mining operation. The partnership between the Chinese company and a Texas-based subsidiary of Bitdeer on “Bitcoin mining” – the process by which new bitcoins are entered into circulation – will lead to the construction of the  Texas Mining Center. BIT Mining, formerly known as 500.com, has extensive financial and personnel ties to the Chinese Communist Party. Reuters has identified “Chinese state-backed chipmaker Tsinghua Unigroup as a major shareholder,” amassing nearly one-third of the company by 2018

Will the Cryptocurrency Boom Continue in 2018? Here’s One Clue…

In the final days of 2017, Bitcoin captured the attention of global markets when the price of a single digital coin surged to a record-high price around $20,000. While the price of Bitcoin has since pulled back (to around $14,600 today), there is one market indicator that suggests digital assets will remain bullish in 2018 — the price of gold. One cannot overstate the role that ‘bad money’ has played in the explosion of demand for digital assets. Though the mainstream financial press often frames the digital asset boom as a product of blockchain technology’s faster transaction speed or greater

How Bitcoin Is Redistributing Wealth to a New Generation of Innovators

This article was posted originally at the Epoch Times. Normally, the concept of wealth redistribution involves government using force to take from some people and give to others. But the bitcoin revolution is redistributing wealth differently. For the sake of simplicity, and to avoid confusion, we will talk about only the original bitcoin in this article and avoid the likes of cryptocurrency products such as ethereum and initial coin offerings, as well as recent duplicates of the original protocol. On the one hand, at a price of $15,500 and a market capitalization of $277 billion at the time of writing, bitcoin has made many people