Chomping at the Bitcoin: The Past, Present and Future of Bitcoin in China

In May 2013, China's main state-run broadcaster aired a documentary about a little known virtual currency called Bitcoin. Over the next six months, the value of Bitcoin rocketed as Chinese money poured in. Unfortunately for many latecomers, the rapid rise in Bitcoin's price and popularity also attracted government scrutiny, causing an unforeseen and catastrophic plummet in value. In this China Special, finance industry expert Zennon Kapron investigates this mysterious digital currency and the far-reaching implications of its use in China and around the world. ‘The First World War altered the course of the twentieth century, heralding the decline of the great European empires and ending a golden era of optimism. While for many, the Great War was a European war, the war was actually much more wide reaching. Its battles were fought as far away as the Shantung Peninsula in northeastern China, and its legacy continues to reverberate in the modern geopolitical relationships that the world’s biggest rising power has with its neighbor.To mark the centenary of the First World War, Penguin China has assembled a series of Specials by the world’s top China hands that bring a fresh and fascinating perspective to the conflict.’