Chinese company sells 1.8M bitcoins, but investors fear it’s too soon to sell them
- by admin
Chinese internet-connected cameras can be bought for a fraction of what they cost in the US.
The company, which sells an app called ‘Tensor’, sells 1,8M BTC to developers, developers of cameras that take pictures and video, and retailers.
The total value of Tensor cameras is around $300,000, according to its website.
The Tensor app can be downloaded on Android, iPhone, and iPad.
The Chinese company has also raised about $100m through a Series B round, and has a product roadmap to sell to customers.
But Tensor is yet to sell any bitcoins, according the CoinDesk Bitcoin Price Index, which tracks the price of the cryptocurrency.
The app, which can also connect to CCTV, allows users to see where people are, how fast they are walking, and where they are moving.
It is the first time Tensor has offered bitcoins in the wild, and its investors have warned that they could sell out.
A spokesman for the company told The Wall Street Journal that Tensor does not currently offer bitcoins.
A recent tweet from the company stated that it does not plan to sell its Tensor camera for a while yet, as it is still under development.
The Wall’s story stated that the company has been working on Tensor since March, but had to delay the product’s launch due to regulatory and technical hurdles.
This has left investors wondering if the Chinese firm could eventually sell the product.
Tensor can be purchased from Chinese retailers for around $1,000.
The firm has not yet responded to a request for comment.
In October, the Tensor team announced that it would be launching a ‘Smartphone’ that would make it easier for customers to buy Tensor.
The team described the product as a ‘camera-centric’ application that would allow users to snap pictures and videos without being tethered to their mobile phones.
The project was not funded by Tensor, but the team had previously released a prototype app that used Tensor’s camera technology.
‘Tenser’ has not had a strong response from investors in China.
CoinDesk’s Bitcoin Price index has moved down from more than 8,000 BTC per coin to a single bitcoin.
The average price of bitcoins in China has fallen from around $4,500 to $2,000 over the past few months.
The CoinDesk Price Index is a snapshot of the current cryptocurrency market.
It provides an average price for Bitcoin on a given day, as of 6:00 pm (local time) in China and an average for other cryptocurrencies on a corresponding day.
Chinese internet-connected cameras can be bought for a fraction of what they cost in the US.The company, which sells an…
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