Bitcoin News In China Gets Big Push From BitebiMi.com

Hong Kong, November 27, 2013 /ChinaNewswire.com - Xinwengao.com/ - As a peer-to-peer digital currency, Bitcoin's decentralized nature has already pushed the value of a single Bitcoin in the past few weeks up more than 300%. And www.bitebimi.com (which means Bitcoin Rice in Mandarin Chinese) is helping to foster the community of Chinese Bitcoin adherents with continuously updated news from around the globe.

As a newly-launched news and business intelligence source, BitebiMi.com focuses on both the euphoria and the risks involved in Bitcoin usage. As a virtual money mechanism, Bitcoin as an investment has dangers because of online theft and high frequency valuations.

But in China, Bitcoins are seen as being an important investment because of the paucity of adequate investments in China. For many Chinese, real estate is the main investment vehicle, so Bitcoin offers an alternative way to diversify. Bitcoins are also rumored to be used in some real estate transactions in China.

Others have seen a future in Bitcoins. In the past month, BTC China, one of the leading Bitcoin online marketplaces, raised US$5 million in Series A financing to grow its business, and in the U.S., the Federal Bureau of Investigation released a letter to Congress that stated "The FBI's approach to virtual currencies is guided by a recognition that online payment systems, both centralized and decentralized, offer legitimate financial services."

BitebiMi.com is managed by AMN, an online vertical digital media company based in Hong Kong. For more information, visit the site at www.bitebimi.com.