Chinese government likes bitcoin for the same reasons it likes precious metals. They want to bring wealth into the country.
2 billion people just now getting exposed to a store a wealth beyond the control of any state. the culture is all about "saving". they won't care so much about what you can buy so long as their investment grows. bitcoin has yet to see what real deflation is
Alipay, Tenpay & OKPay at the start; but we will have controls in place to prevent direct CNY -> USD transfer to comply with the law (e.g. if you put CNY in using Alipay, you can't get USD out using OKPay).
Two-factor authentication for login, + additional un-keyloggable trade PIN stored in separate database for trading & withdrawals.
This should be the last week before we open up -- we don't want to launch too soon.
Will save the rest for a thread where I'm allowed to post this stuff.
On BTCChina, they keeping switching to/from cloudflare -- they were on it last month. Unfortunately cloudflare performance can be horrible in China, so they tend to switch back. DDoS suck for all of us.
awseome! great news.
yeah the cny -> usd is expected and makes perfect sense.
i look forward to the official post.
Hosting overseas. We're using blockchain.info for hosting bitcoind -- we believe it is the most secure way as it means attackers can't do anything with the server even if it gets owned. Using a scaleable solution with load balancing. Over the past few months we have tested a few hosting strategies; this is the best.
are your local "client facing" servers going to be hosted in shanghai? will you use a .cn name? i just ask, to know if you will acquire an icp license. i tend to believe that would be a major validation of the governments acceptance of the bitcoin movement.
there is something about a full exchange using blockchain.info's api that doesn't seem right to me; imho you'd be "more secure" with your own local solution (over a private network); but i'm just gonna mind my business on that one
anyway, this is all very exciting stuff and i wish you the best of luck with your launch.
(definitely gonna have some fun watching the events unfold in the upcoming weeks)