Bitcoin: Rise - HK Event Huge Success

Bitcoin: Rise – HK Event Huge Success

This past weekend Bitcoin enthusiasts gathered in a Hong Kong café to learn about Bitcoin.

Participants were shown how easy the technology can be to understand. They were helped to open a Bitcoin wallet and purchase food and drinks with bitcoin.

In addition to Bitcoin buyers there are a lot of people who came out of curiosity and to learn. Many where expatriates.

Leonhard A. Weese for example, worked as an adviser. He began using Bitcoin last year. He helped with the event because he wants the public to know that Bitcoin is used in addition to investment. As it is also a convenient trading tool. He believes it is important to remind people that all investments have some risk.

Headquartered in Singapore CoinPip launched their first store to use its Bitcoin payment system, and trial in the venue. People can shop at the store directly with Bitcoin. They simply download the system to a Tablet PC, you can then choose to receive Bitcoins , or have them converted back to dollars, the process only takes a minute. TziajizA_NiA5GZOyFOSSMAa0uA5tw8GbaGx2FSgU-E

Fans can reduce transaction costs

Serving the financial industry Bitcoin enthusiast Town Feng said; compared with PayPal and other trading systems, trading commodities through bitcoins can save transaction costs (transaction value of approximately 3-5%), is twice the gross profit small businesses.

He and his friends will be launched Asia ‘s first online fundraising platform bitcoins Cryptomex this month. This is to assist other Bitcoin developers to raise funds for the development of bitcoin projects. Guan said the site works like a stock trading platform.

Developers through the website issue stock as fund-raising. He said Bitcoin is now more popular in Europe, North America and other places. The Hong Kong people generally know very little about Bitcoin.

No regulatory legal tender

Foreign exchange operator Leung discussed bitcoin availability. He said that because Hong Kong does not recognize Bitcoin as legal currency, Bitcoin transactions so not regulated per se.

HKMA Chief Executive Norman Chan said it would not be appropriate currency, but bitcoin HKMA does not fall within the scope of the jurisdiction.

From Mt. Gox client assets freeze suddenly last week , the U.S. Federal Reserve Board Chairman Janet Yellen also said that the FED had no power to monitor Bitcoin.

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