Digital cryptocurrency has lost almost 50% of its value overnight after BTC China said it could no longer accept deposits in the Chinese currency• Christmas gift guide for the bitcoin millionaire – in pictures Bobby Lee, chief executive and Co-Founder of BTC China at his office in Shanghai.Photograph: Peter Parks/AFP/Getty Images Digital cryptocurrency has lost almost 50% of its value overnight after BTC China said it could no longer accept deposits in the Chinese currency• Christmas gift guide for the bitcoin millionaire – in pictures The price of bitcoin has plummeted following an announcement from China's largest bitcoin exchange that it would no longer be accepting new yuan deposits.BTC China said that due to action by a third-party payment provider, YeePay, it could no longer accept deposits in the Chinese currency, although it would still be able to process withdrawals.BTC's chief executive, Bobby Lee, said that YeePay gave notice on Wednesday morning Shanghai time that it would no longer provide services.

Lee blamed government regulation for the decision.China's central bank warned in early December that bitcoin was not legally protected and had no "real meaning", and barred financial institutions from using the currency.On Tuesday, the central bank extended that ban to payment companies like YeePay, and gave them until Chinese New Year, which begins on 31 January, to comply.At publication time, the value of one bitcoin on BTC China stands at ¥2,630 (£266.02), down from a high of ¥7,395 (£741.70) in late November.ethereum made easyBitcoin has dropped against other currencies in the same period, falling from £750 to £300 in the UK and from $1242 to $480 in the US.bitcoin dogecoin exchangeOn 18 November, BTC China raised $5m in a funding round from institutional investors Lightspeed.có nên chơi bitcoin

Until then, it had been self-funded by its three co-founders, who opened the site in June 2011.Bitcoin remains legal to use in China, and the central bank is standing by an announcement that individuals are free to trade it at their own risk.But without third party payment providers, new purchases of the currency are virtually impossible.That raises doubts about the future of bitcoin.The large boom in value that the currency has seen this autumn is widely thought to be a result of Chinese users adopting it.reddit instant bitcoinAs Chinese support has since waned, so too has the price.bitcoin escrow systemBitcoin's supporters have consistently argued that the currency is impossible to fully ban, since it exists as a decentralised network of transactions.bitcoin profit decline

But if it can be rendered useless to merchants and customers, an actual ban may be unnecessary.• When thousands of bitcoins were stolen from an illegal marketplace, the users set out to track the culprit.But what started as the Maltese Falcon soon turned out to be more like Pink Panther.BTC stands for bitcoin and it is also referred to as cryptocurrency.Bitcoin is a type of digital currency that is held electronically.No one can control bitcoin because it is not in printed form like other currencies.o'que e o bitcoinPeople prefer bitcoin as a means of earning money is because no one controls it as the entire system of bitcoin is decentralized and therefore the banks no longer control the money.litecoin recommended transaction feeMoreover, it also allows money to be transferred in a fast and efficient manner from one place to another as soon as the bitcoin network starts processing your payment.o'que e o bitcoin

If a person decided to send bitcoin to someone then there is no way they can get it back until and unless the person who received the Bitcoin decides to send it back to you.People tend to look for ways through which they can convert their BTC to Aud or any other form of currency.1 bitcoin equals to 1562.87 Australian dollars and that is a huge amount.This means that people who are earning money in bitcoins can earn more money as compared to people still dealing in handheld currencies.People can easily transfer bitcoins to Australian dollars mainly because of the new Internet resources that have been introduced to deal with the conversion.There are a number of ways that can be used to convert BTC to aud.Some of the ways that can be used are mentioned below: 1.Wirex is the best way of converting bitcoins to Australian dollars.It allows instant conversion as only within 30 seconds BTC can be converted to Australian dollars.Moreover, wirex also makes sure that people convert their bitcoins when the exchange rate suits the rate they want.

People can convert their bitcoins in advance.It also makes sure that the bitcoins that have been transferred to Australian dollars can be used instantly.Thus people can use the money by withdrawing cash from ATM machines.Another way is to use Coins.ph that is another fastest and reliable way of converting your bitcoins to Australian dollars.All you have to do is to sign up on the website and place and order on the cash out page.Indicate the amount on which you wish to sell your bitcoins and provide the website with all the necessary information that it asks for.Now choose the payment procedure and you are good to go.People can also visit a local trading site where many people have listed their bid for bitcoins and therefore people can easily strike a good deal out of the deals that have been mentioned.Another way through which bitcoins can be transferred to Australian dollars is to look around within your friend’s circle in order to determine that whether anyone is willing to buy bitcoins from you.