Bitcoin Fell More Than 30%

　　 Baidu platform terminated Bitcoin payment

"Baidu's website acceleration platform has decided to stop accepting bitcoin payments from Friday because of the recent dramatic changes in the value of bitcoin, which makes it unable to protect users' interests," a Baidu acceleration platform said in a statement on Saturday

On October 15 this year, baidu accelerated its platform to launch bitcoin payment service, which is known as "the first domestic bitcoin payment service launched by Baidu online". This not only caused a burst of uproar in the domestic Internet industry, but also caused a lot of vibration in the international bitcoin circle.

However, baidu did not release the final data of bitcoin transactions. There is a rumor in the industry that on the day Baidu accelerator music announced its acceptance of bitcoin payment, it had received 0.22 bitcoin payment, equivalent to about 230 yuan. An Internet source said that the platform is obviously using bitcoin to hype itself and enhance its brand awareness.

Xu Dong, a third-party payer, told reporters: "we can't see any websites supporting bitcoin payment, which means that bitcoin is hard to have a transaction attribute value. The only value is storage value, but it may be destroyed by substitution at any time." He also believes that the current sharp rise in bitcoin prices is due to the presence of market makers who manipulate the global bitcoin price, especially since bitcoin is relatively scarce. As long as some dealers hold a certain amount of bitcoin, they can easily manipulate the price of bitcoin.

Bitcoin is the largest in this round Decline Over 50%

According to the bank, bitcoin trading in China accounts for nearly 40% of the global trading volume.

However, on Thursday, the central bank and other five ministries and commissions issued a document saying that bitcoin can not be circulated as currency and has no legal status equivalent to currency, and Financial Payment institutions are not allowed to provide relevant services for bitcoin customers. However, the notice also pointed out that bitcoin trading, as a kind of commodity trading on the Internet, has the freedom to participate in the transaction at its own risk. In other words, online bitcoin transactions are not illegal.

Nevertheless, bitcoin prices have fallen for four consecutive days as a result of central bank policy. On Thursday, it peaked at $1240; on Friday, bitcoin closed at $845. If the 7-day intraday low of US $576, bitcoin's largest decline in this round has reached 53.55%.

Some bitcoin market and trading websites are suspected of running away, and the website has been unable to open. The reporter logged in a bitcoin website named btc100 yesterday. The announcement page of the website said: the server has been attacked strongly by hackers. In order to ensure the safety of your funds, it is temporarily closed and the transaction is stopped for technical processing.

Explanation of terms

Bitcoin is a kind of digital goods produced by open source P2P software currency , is a kind of network virtual currency. Bitcoin does not rely on specific currency institutions to issue, it is generated by a large number of calculations of specific algorithms. The decentralized characteristics of bitcoin P2P and the algorithm itself can ensure that it is impossible to artificially control the currency value by manufacturing a large number of bitcoin.