Bitcoin’s value went through the roof on Wednesday last week as investors piled into the digital currency, which is often used as a hedge during times of uncertainty in the global economy. However, several hours later Bitcoin crashed by nearly 20 percent, with analysts attributing the fall to a sudden rise in the value of China’s yuan.
Bitcoin soared in value last year, becoming 2016’s strongest performing currency, with the digital currency’s dizzying rise continuing over into the new year. The Bitcoin Price Index showed the currency breaking through the US$1,100 mark during early trading Wednesday, reaching a three-year high of US$1,139.89 and edging toward 2013’s record high of US$1,165.89.
However, according to Reuters, Bitcoin’s value suddenly plummeted on Thursday by 20 percent, slumping to US$885.41, a fall of more than US$200 in a single day’s trading, once again demonstrating the volatile nature of digital currencies. Reports attributed the cause of the dramatic crash to the Chinese yuan offshore exchange rate’s steep appreciation of more than 1 percent against the dollar.
(CNA, translated by Edward Jones)
1. digital currency n. phr.
(shu4 wei4 huo4 bi4)
2. hedge n.
(bi4 xian3 biao1 di4)
3. plummet v.
暴跌 (bao4 die2)
4. volatile adj.
多變 (duo1 bian4)
The practice of shenzhu (divine pig) “fattened pig” contests today play only a small role in Taiwan’s folk religion, but they are still held within a minority of temples. On Aug. 27, Democratic Progressive Party Legislator Rosalia Wu held a news conference advocating for the shenzhu sacred pigs, objecting to the longstanding allowances given to breeders, and calling for strict enforcement of fines against the practice. Environment & Animal Society of Taiwan (EAST) researcher Tsun Fang-chu said private breeders keep the animals in cages and force-feed them to fatten them up, and over the long term this increase in weight means
The Western Section of the Taipei Metro’s Circular Line (the Yellow Line) in New Taipei City has been in operation since Jan. 31. On Sept. 6, someone riding in a Metro train car saw the quite moving scene of an elderly workman sitting on a paint pail that he had with him because he was afraid of dirtying the seats. Some netizens were moved to tears by the story. The person posted a photo on the “Baofei Commune” Facebook group. He said that when he was on the Circular Line in New Taipei City, he had come across an elderly workman
VieShow Cinemas’ Taipei Sun, a digital IMAX movie theater located in Taipei’s Ximending area, closed its doors on Sept. 8 in preparation for the building to be torn down for an urban renewal project. The fate of the mosaic mural The Rising Sun, which is 18.5 meters long and 3 meters high and is located on the second floor, has since become a focus of controversy. The mosaic mural was created by Yen Shui-long (1903-1997), an important figure in Taiwanese art, whose work ranged from painting, crafts and pottery to advertising design, and who was a pioneer in Taiwan’s arts
Let’s go for a spin in my new set of wheels (2/5) 坐我的新車去兜風吧（二） A: How about we organize a road trip to test out my new set of wheels? B: Alright. Any thoughts on where to go? A: I’m thinking of driving along the east coast and staying in Taitung for a long weekend. What do you think? B: That’s a great idea — but does your vintage car have air conditioning? A: I’m afraid not, but at least the weather is starting to cool down now. How about this Saturday? B: Sure. Let’s do it! A: 我們來規劃一趟公路旅行，試試我的新車，你覺得如何？ B: 好啊。你有想到去哪裡嗎？ A: 我打算沿著東海岸開，然後週末連假待在台東。你覺得呢？ B: 那真是太棒了──不過，你的經典車有空調嗎？ A: 恐怕沒有哦，反正天氣開始變涼了。星期六出發怎麼樣？ B: 當然。就這麼做吧！ （Edward Jones, Taipei Times／台北時報章厚明譯） English 英文: Chinese 中文: