15 Oct '13, 9pm

Reports: Baidu, the "Google of China," is now accepting Bitcoin

An announcement on a Bitcoin forum says that Baidu Jiasule, a small security service owned by one of China's biggest Internet companies, will begin accepting Bitcoins as payment. The press release (in Chinese) is here . In the U.S. Bitcoin is under increasing government scrutiny. In China the peer-to-peer virtual currency is growing in popularity , with several exchanges, investment services, and Bitcoin mining operations (Bitcoin mining involves custom high-speed computer chips, not drills and shovels). From what we can tell, so far, the press release looks more like a publicity stunt than a serious strategic move. Rather than automating them, Jiasule included an email address for manual processing of payments. A look at the transactions shows that as of 5:30 p.m. ET, they'd taken in 0.16955721 of a Bitcoin, or about $25.97 at today's rates.

Full article: http://www.fastcompany.com/3020006/fast-feed/reports-baid...

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