Wayi International Digital Entertainment will begin accepting Bitcoins in 2014 to profit from the regulations surrounding Bitcoin in China, under the assumption that the inability for Bitcoin holders to profit from the growth of the currency will lead them to spend it instead. They then plan on becoming Taiwans primary Bitcoin exchange. Although Chinas regulations and statements against the value of cryptocurrencies caused the price of Bitcoin to drop significantly, these actions could help to stabilize the currency, making it more attractive to long term investors by discouraging short term speculation and incentivising bitcoin holders to buy and sell goods using the currency.
Read More: http://www.taiwannews.com.tw/etn/news_content.php?id=2365839
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