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Marketplace Tech for Thursday, December 19, 2013
Dec 19, 2013

Marketplace Tech for Thursday, December 19, 2013

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China's largest Bitcoin exchange, BTC China has been forced to stop taking Chinese currency. The move follows a reported meeting this week between payment processing companies in the country and the People's Bank of China, and a decision by national financial agencies in the country earlier this month that effectively banned dealing in Bitcoin, the so-called cryptocurrency -- which Marketplace Tech has been looking at all week -- seems either on the verge of collapse or going to the next level. So, which is it? Plus, the first piece of artwork created with Google Glass.

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After China says no to Bitcoin, should we stop thinking of it as a currency?

Dec 19, 2013
One advocate says we should stop thinking of Bitcoin as a currency and start thinking of it as a money transfer system.

China’s largest Bitcoin exchange, BTC China has been forced to stop taking Chinese currency. The move follows a reported meeting this week between payment processing companies in the country and the People’s Bank of China, and a decision by national financial agencies in the country earlier this month that effectively banned dealing in Bitcoin, the so-called cryptocurrency — which Marketplace Tech has been looking at all week — seems either on the verge of collapse or going to the next level. So, which is it? Plus, the first piece of artwork created with Google Glass.

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