HONG KONG Hong Kong's central bank has warned people against investing in virtual currencies amid local media reports that a bitcoin exchange may have run off with $387 million in client funds - making it potentially the biggest bitcoin scandal after last year's bankruptcy at Tokyo-based Mt.Gox.The South China Morning Post reported on Monday that clients of Hong Kong-based MyCoin had approached a local lawmaker alleging the company absconded with their money.An assistant for Legislative Council member Leung Yiu-chung told Reuters that Leung had received more than 15 complaints from MyCoin clients regarding the alleged fraud, and these would be passed on to the police on Wednesday.The Hong Kong Monetary Authority (HKMA) said in a statement late on Monday that the case "may involve fraud or pyramid schemes," adding: "Given the highly speculative nature of Bitcoin, we have all along urged the public to exercise extra caution when considering making transactions or investments with Bitcoin."Calls

to MyCoin in Hong Kong could not be connected.Calls to the company's China customer service line were not answered.Bitcoins are created through a 'mining' process where a computer's resources are used to perform millions of calculations.Advocates say the virtual currency is revolutionary as it's not controlled by a central bank and has potential as an alternative means of online payment.But the rise of bitcoin, which is unregulated in many countries including Hong Kong, has stoked concerns it can be used as a vehicle to launder money and finance extremist groups.Mt.Gox, once the world's largest bitcoin exchange, filed for bankruptcy a year ago after it claimed to have lost around $500 million worth of customer bitcoins in a hacking attack.On its website, MyCoin claims to be a "leading global Bitcoin trading platform and application service provider," with a China-based research and development team.MyCoin promised clients a HK$1 million ($128,976) return over a 4-month period based on a HK$400,000 investment that would produce 90 bitcoins on maturity, the South China Morning Post reported, adding MyCoin claimed to have 3,000 customers each investing an average of HK$1 million.The price of a bitcoin has slumped from a late-2013 high of above $1,000 to around $220, according to CoinDesk's price index.($1

= 7.7534 Hong Kong dollars) (Additional reporting by Anne Marie Roantree; Editing by Ian Geoghegan)Ethereum support coming soon Cash to Ethereum in no time.Operators will soon have the option to offer Ethereum buying and selling on Lamassu machines.Ethereum 15 second confirmation time makes the cryptocurrency ideal for cash-out transactions.kraken sell bitcoinBitcoin machines are profitable Prime locations are reporting monthly transactions volumes from $70K to as high as $300K, standard locations about $20K to $30K.ethereal breeding chartOperators have been covering the cost of their machines in 3-9 months.cara isi bitcoinQuestions on ROI and BTM placement?bitcoin ghs trade

inquiries@lamassu.is Operator is king As an operator, you will have complete and exclusive control of your machine through our open source Rakía backend.Change the commission, exchanges and price tickers on the fly and choose whether you want to run a full node bitcoin wallet or use a hosted one.cambiar litecoin a bitcoinMeet the family Our newest lineup brings you three brand new products that are made to work seamlessly together.church accepts bitcoinWhatever your needs – you can pick the setup that works best for you!The requested URL /search?location=Hong%20Kong was not found on this server.Buy bitcoins online in Hong Kong Seller Payment method Show more… Sell bitcoins online in Hong Kong Buyer Payment method Show more… Buy and Sell Bitcoins in these popular cities in Hong Kong City Trading Amount

Market prices LastBidAskHighLow HK Dollar (HKD)----- Renminbi (CNY)----- US Dollar (USD)----- Euro (EUR)----- Last week's trading data Why choose BitCashOut?BitCashOut is a Bitcoin currency exchange platform managed by YT E-Commerce (H.K.)It is the first Bitcoin exchange platform located in Hong Kong.Our trade engine is developed upon the well-known Bitcoin exchange Bitcoin-Central.We support multiple currency trade and instant Bitcoin deposit/withdraw with extremly low fees.Our service has been adopted by other Bitcoin service providers, such as HK Bitcoin ATM.Hong Kong's legal system is sound, transparent.BitCashout will strictly compliance with laws and regulations, and will prohibit any money laundering and other illegal activities, thereby, provide our customers more stable and consistent services.Bitcoin, digital money backed by no government and “mined” by computers performing complex algorithms, have been largely unregulated, creating a virtual Wild West of programmers and speculators.

But as Bitcoin tries to gain greater mainstream acceptance, authorities around the world have begun eyeing it more cautiously, as they might a currency.The spectacular collapse of Mt.Gox, the Tokyo-based Bitcoin exchange, has only fanned regulators’ concerns.Regulatory moves in China have been among the more aggressive to date.In December, the Chinese authorities curtailed the use of Bitcoin by banks and payment processors, which helped halve the value of the virtual currency in two weeks.While the government said the general public was free to trade Bitcoin online, the broad fear is that China may eventually impose a sweeping ban on its use offline, as it did in 2009 to Q Coin, a virtual currency issued by Tencent.But Hong Kong has so far remained relatively passive on the regulatory front.The former British colony has retained a separate political and economic system since it returned to Chinese rule, and the Hong Kong Monetary Authority, the city’s de facto central bank, says it is not directly regulating Bitcoin, at least for now.Entrepreneurs in Hong Kong are essentially playing regulatory arbitrage.

Although firm data is scarce, China is widely seen as the world’s second-largest market for Bitcoin, after the United States, and the restrictions have cooled its nascent Bitcoin scene.By virtue of proximity, businesses in Hong Kong are hoping to capture some of the demand.“Like water, Bitcoin may take the path of least resistance and find its way into Hong Kong,” said Michael Chau, a business professor at the University of Hong Kong.“Because of the city’s proximity to China — and because it has become part of the country since 1997 — Hong Kong has the potential to absorb part of China’s Bitcoin market.”The Chinese customer base of Laser Yuan, the founder of the Hong Kong-based exchange BitCashOut, doubled after the December notice.Three weeks ago, ANX, Hong Kong’s largest Bitcoin exchange, opened what it said was the world’s first brick-and-mortar store for the virtual currency, where customers can buy Bitcoin over the counter.It also set up a Bitcoin vending machine last week.Robocoin, a maker of Bitcoin automated teller machines, will set up its first A.T.M.

in Hong Kong this spring, and plans 100 more around the world, none in China, said the company’s chief executive, Jordan Kelley.“We have hundreds and hundreds of Chinese businessmen and entrepreneurs contact us with the purpose of becoming Robocoin operators,” Mr.Kelley said, adding that if China gave him the green light, the company would “have 200 A.T.M.s in China before the end of the year, if not more.”Mr.Shin said he first saw the promise of Bitcoin last year, when the coins were worth $25 apiece, compared with about $620 now.After raising $2.5 million, he and his business partners built IceDrill, an operation in Montreal where racks of speedy computers race to generate Bitcoin.But he is now selling part of his stake in the Canadian mine and focusing on his start-up in Hong Kong, which he said could be “the capital of Bitcoin in Asia.” Mr.Shin recently hired Jake Smith, a well-connected Bitcoin enthusiast who worked for Li Xiaolai — a Chinese investor who reportedly holds 100,000 coins — to get Chinese to buy into the companies listed on his platform.“When the government comes out and puts constraints on Bitcoin in China, investors naturally look at Hong Kong — not Singapore, not Korea — for substitution,” Mr.

Hong Kong operates in a type of regulatory limbo, so uncertainty reigns as much as opportunity.If China clamps down further, Hong Kong may be forced to rethink its stance.John Greenwood, chief economist at Invesco and architect of Hong Kong’s exchange-rate system, said that whether the Chinese authorities would toughen measures depended on whether Bitcoin became so prevalent that it undermined China’s capital controls.“China’s mainland residents can buy things with Bitcoin from Europe or North America or anywhere else in the world, or make transfers,” Mr.“It’s a hole in the dike, a leakage from China’s system of foreign-exchange control.”Entrepreneurs like Mr.Shin also face a legacy of past ventures that have proved problematic.Two once-prominent Bitcoin crowdfunding platforms, BTCST and Bitfunder, are now defunct.BTCST, which offered Bitcoin-denominated securities that claimed to return up to 7 percent a week, has been charged by the United States Securities and Exchange Commission with fraud and with running a Ponzi scheme.“The operating environment is much clearer,” Mr.

“The Hong Kong government has acknowledged Bitcoin as a commodity, so we have clarity on both fronts here as well.”Then there is the need for better basic infrastructure and consumer awareness, a challenge for Bitcoin around the world.For example, few businesses let customers make payments with the currency.In Hong Kong, they largely amount to a boutique hotel, a flower shop, a tailor, a music teacher and a Beijing-style crepe restaurant.On the eve of the Chinese New Year in January, the three co-founders of the Bitcoin exchange ANX took to the bustling streets of the Lan Kwai Fong entertainment district to hand out 50,000 red envelopes, each carrying a little more than a dollar’s worth of Bitcoin.“I use Bitcoin to buy stuff online all the time,” Ben Lau, an online marketer, said as he stood on the sidewalk using his smartphone to scan the QR code — an image that works like a bar code — on the voucher he had just received.But Mr.Lau was in the minority.Even months after Bitcoin leapt into the limelight, most passers-by had little idea about what it does, and some associated it with drugs and frauds.When the after-work crowd diminished, the co-founders went to a nearby bar to check on rumors that it had recently started accepting Bitcoin.