The % of people in this world who are even aware of crypto currencies or their potential is effectively zero. China is not even able to buy bitcoin atm, there is no ETF, only 20 mio users and we are at 5600 USD - WTF
The only bitcoin ATM remaining in China was intentionally disabled and functions as an ornament
From Google Translate (slightly edited for readability): "The bitcoin ATM machine [installed for beta testing a week earlier] has been removed." "Due to policy considerations, [our bitcoin ATM] will not be released again in mainland China." "This leaves one remaining Bitcoin ATM in China -- Bit China (Shanghai)'s Lamassu machine, which was intentionally disabled after the country issued a virtual currency ban. [It cannot be operated and functions as an ornament.]" It appears that this bitcoin ATM was a "beta test" machine that does bitcoin vending only. Instead of inserting cash, the customer pays for the purchase using Alipay or WeChat Pay. But the seller of the bitcoin is not the bitcoin ATM operator, the seller is from a P2P marketplace. So the buyer's payment goes directly to the seller. The machine distributes a card with a QR code, which is [either a private key ??, or perhaps a voucher that can be redeemed online and the bitcoins are then withdrawn to the buyer's BitPay wallet].
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However, spending Bitcoin in China isn’t very easy. A quick check reveals that there are not many options where you can spend the digital currency in the country. There’s one hotel in China that accepts Ether, but when it comes to Bitcoin, it is usually seen that the cryptocurrency is used by high net worth individuals to purchase luxury items. Bitcoin recently took one step forward and one step back as one provider launched its first Bitcoin ATM in China, while another Bitcoin operator has been denied doing the same more than 4,700 miles away in Switzerland, according to reports. Even though 2018 had largely seen prices sliding downwards, data from crypto analytics company Data Light indicates that crypto ATMs have had a good year. This year alone, the num A Bitcoin ATM is a machine that buys or sells bitcoins for cash. How Does a Bitcoin ATM Work? It works almost like the ATMs you use today. There are a few differences: Instead of inserting your debit card and getting cash, you insert cash and get bitcoins sent to your Bitcoin wallet (if you are buying bitcoins). Bitcoin ATM’s. Bitcoin ATM’s are another option for purchasing Bitcoin in China. These are scattered around the world, and allow users to exchange cash for Bitcoin. In order to find an ATM near you, look at Coinradar. Bitcoin ATM’s often have a higher fee compared to other methods (usually around 10%), although they offer a much higher
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