Tech Life Magazine Introduces Possibility Of Subscription For Bitcoins
Tech Life, the oldest Chinese technology magazine, begins to sell the 2019 subscription for bitcoins, cnLedger reports, citing the press release.
Thus, the scientific media, existing for over 50 years, intends to popularize blockchain technology not just in theory, but also in practice. The magazine will be the first media resource in China accepting payment in cryptocurrency.
China's oldest tech media - Beijing Sci-Tech Report (BSTR) announces its "Tech Life" now accepts Bitcoin subscription (0.01BTC). BSTR explains that the main purpose of this move is to promote the blockchain technology through practical actions.— cnLedger (@cnLedger) 30 сентября 2018 г.
Source(CN) https://t.co/eO8qrm5dhz pic.twitter.com/YqdCHVYTU7
Annual subscription to the magazine will cost 0.01 BTC, or $65. The magazine will provide the address of its Bitcoin wallet to pay for services. Also, to avoid problems with volatility, the media offers to buy access to publications at a fixed price and return the difference to the readers, if the bitcoin rate rises.
In a comment under the cnLedger’s tweet, a crypto enthusiast called Vincent Tchou noted that cryptocurrencies are banned in China, and suggested that such a subscription is a trap and a road to prison. The representatives of the magazine replied that Chinese regulators indeed forbade ICOs and crypto exchanges, but residents are allowed to store and invest in tokens. He added that if cryptocurrencies were prohibited in China, then Huobi and Bitmain executives would have been arrested already.
According to the press release, one of the reasons why Tech Life began to receive bitcoins is the confidence, that the cryptocurrency will grow significantly by 2020. Moreover, the media intends to raise a new generation of readers with the help of crypto payments.
Tech Life magazine is based in Beijing and is subject to the Ministry of Science and Technology of China.
Earlier, a local court in China tested a blockchain system in resolving legal disputes.