Another sign that China is really taking the lead in the Bitcoin world: China Telecom lets customers reserve a new phone by making a downpayment in bitcoin!
On December 20 a co-branded China Telecom and Samsung phone will be launched (model W2014). If people want to get it on that day they will have to pay 0.1 bitcoin to reserve it. The value of 0.1 bitcoin on December 20 in RMB will determine how much your downpayment was and how much you have to pay for additionally in RMB to get the phone.
This is another endorsement for Bitcoin in China. The news will further increase Chinese consumers’ awareness of Bitcoin, which is very positive for the currency. The website shows exactly how to transfer the amount in bitcoin to China Telecom so also new users can make their first bitcoin payment. The first BTC payment is often a big hurdle for new users, so this is an important step.
Because China Telecom is a giant state-owned enterprise, it likely can’t endorse a payment in bitcoin without the government agreeing to it. This will increase consumer’ confidence in Bitcoin as something legitimate.
(Thanks for the link Bing Dai)