Donors use bitcoin during earthquake; Chinese adopt after media cover

Young chinese adopt Bitcoin after Sichuan earthquake because cover by mainstream media


Video transcript (Part 1 of 5)

  1. Chinese main stream media picks up Bitcoin after it was used as donation for April 20 earthquake disaster that struck Lushan, Sichuan Province in China. (0:47)
  2. What is Bitcoin? (1:05)
  3. How Bitcoin started with Satoshi Nakamoto. (1:55)
  4. How is Bitcoin mined? (2:24)
  5. How a mining rig is set up: the way Chinese Zhai Wenjie did it. (3:15)
  6. How Cyprus revealed the vulnerability of individual savings, that Bitcoin transactions can avoid tax and can be exchanged with currencies like the US Dollar. (4:32)
  7. Close up shot of a Bitcoin ATM that is now used in Cyprus. (4:53)
Screenshot of Bitcoin mining rig

Operating a mining rig is not without costs – requires electricity to run and to cool


Full video here from CCTV-2 经济频道 《经济半小时-揭秘比特币

Lastly, if this not enough, my colleague Jerome Lee wrote this article “The easy Bitcoin guide for early adopters” which should serve as a primer to get you started on Bitcoin.

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