engine Baidu - also known as the “Google of China” – has become the first service of its kind to accept the crypto-currency Bitcoin. (BIDU), often referred to as China's Google, has announced the launch of a proprietary blockchain-based crypto token linked to Totem, its photo. To pay with Bitcoins, a consumer opens the Bitcoin wallet app, displays the QR code and lets another consumer or retailer scan the code. Bitcoin can also work. PRINCE MAZIBUKO FOREXPROS

Bitcoin is a new kind of electronic currency, a digital transfer medium, which has already received a high degree of international recognition, and has already reached into our daily lives. It can be used to buy a cup of coffee, or exchanged for gold and silver. In China, bitcoin is considered quite "trendy". Today, I have good news for everyone: from 14 October onwards, Baidu Jiasule will officially support bitcoin payments.

Baidu Jiasule users can use bitcoin to pay for any Jiasule services. Baidu Jiasule, as the innovator of the Internet, has become the first cloud services vendor to support bitcoin, giving us richer payment methods and experience. In the future, Baidu Jiasule will continue to try more new things, giving everyone more convenient payment options. Matonis went on to say that many Chinese citizens live abroad, but still use Baidu, so it will be useful for these people to be able to pay in bitcoin.

When asked whether this development will encourage more companies to start accepting bitcoins, he said: "I am confident that as more companies see the benefits of frictionless payments with low fees, immediate settlement, and zero chargebacks, they will want to accept bitcoin simply to remain competitive. Popularity surge Bitcoin has been gaining in popularity in China over recent months, with data on SourceForge showing downloads of the Bitcoin-QT in China reaching , so far this year, beaten only by the US with , but ahead of the UK with , The Totel platform, and the associated, dedicated token called Totem Point , is now live.

See also: Baidu Vs. Google: How Are They Different? While the Totem service was announced by Baidu in April, there was no mention of an accompanying token at that time. It was termed as a new unique offering under the blockchain-as-a-service BaaS model, which allows user to protect their intellectual property rights on the original photos they upload on the traceable blockchain.

The platform supports validation by third-party stock photo agencies as well as by copyright How Does the Totem Point Token Work? A total of 4 billion Totem tokens will be generated by Baidu. The cryptocurrency It is not yet clear whether the Totem tokens can be exchanged for fiat or any other cryptocurrencies, though the company has confirmed that it can be potentially used across different applications built on top of its XuperChain network.

It is also not known whether there is any plan to list them on a cryptocurrency exchange The launch marks another initiative by the Chinese technology giant into blockchain space, as the company debuts its first usable service on XuperChain network. See also: How Baidu Makes Money.

Emily Spaven Search engine giant Baidu has announced it is now accepting payment in bitcoin for its Jiasule service, which improves websites' performance, speed and security.

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Can governments stop cryptocurrency	CoinDesk contacted Baidu for comment, baidu accepts bitcoin had not received a reply at time of publication. In addition to being a derivatives trader and consultant, Shobhit has over 17 years of experience as a product manager and is the owner of FuturesOptionsETC. As of the date this article was written, the author owns no cryptocurrencies. It can be used to buy a cup of coffee, or exchanged for gold and silver. The cryptocurrency It is not yet clear whether the Totem tokens can be exchanged for fiat or any other cryptocurrencies, though the company has confirmed that it can be potentially used across different applications built on top of its XuperChain network. The Totel platform, and the associated, dedicated token called Totem Pointis now live. Emily Spaven Search engine giant Baidu has announced it is now accepting payment in bitcoin for its Jiasule service, which improves websites' performance, speed and security.
Correct score betting strategy	Twitter Shobhit Seth is a freelance writer and an expert on commodities, stocks, alternative investments, cryptocurrency, as well as market and company news. As of the date this article was written, the baidu accepts bitcoin owns no cryptocurrencies. CoinDesk contacted Baidu for comment, but had not received a reply at time of publication. It is also not known whether there is any plan to list them on a cryptocurrency exchange The launch marks another initiative by the Chinese technology giant into blockchain space, as the company debuts its first usable service on XuperChain network. The Chinese people love this concept! Baidu Jiasule, as the innovator of the Internet, has become the first cloud baidu accepts bitcoin vendor to support bitcoin, giving us richer payment methods and experience. Emily Spaven Search engine giant Baidu has read article it is now accepting payment in bitcoin for its Jiasule service, which improves websites' performance, speed and security.

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Then in late September, Silk Road, a deep Internet marketplace of mostly illegal transactions that only accepted bitcoins, was shuttered by law enforcement after Jeff Ulbricht , the alleged mastermind, was arrested in San Francisco on charges of drug trafficking and hiring a hit man, among other things. The currency's exchange rate value increased by a few dollars on the Baidu news, not enough to say it was significantly affected.

While the Chinese yuan makes up 12 percent of the exchanged currency, the U. To buy bitcoins, anyone can go to an exchange, like Mt. Gox which has had its own problems and convert their local currency. Some U. Web services like bitcoins because, unlike with credit cards, there are no transaction fees and charge-backs. Yet the digital currency gives law enforcement fits as it makes transactions almost untraceable though some researchers have done it.

To boot, China has a history of cracking down on digital currencies, though it'd be tough to believe Baidu didn't clear the move with Chinese authorities first. Caleb Garling is a San Francisco Chronicle staff writer. In a major sell-off that started last night, Mt. Almost 52, bitcoins have been traded on Gox over the past 24 hours. The number of negative news articles being produced about bitcoin and virtual currencies in general has probably contributed to a decline in pricing over the short term.

And Baidu, which is considered the Google of China, had decided to halt accepting bitcoin after its Jiasule service started accepting it in October. The news cycle is clearly changing sentiment about the distributed virtual currency, raising into question why short selling is not more prevalent to provide better liquidity and less volatility.

This article was co-authored by Daniel Cawrey and Jon Southurst.

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