What is the 21-bit bitcoin challenge?


A bitcoin enthusiast is attempting to live with 0.21 bitcoins (about £ 1,000) without using any other currency in a 21-day challenge traced in a new series of documentaries.

On air on iQiyi, one of the Netflix equivalents in China, the show follows He You Bing while trying to pay his way using only a smartphone containing one fifth of the digital currency.

His goal was to find and finance his housing, food and other basic necessities using cryptocurrency transactions via his cell phone while traveling to Beijing and the southern city of Shenzhen, says the cryptocurrency news site NewsBTC.

The challenge is particularly difficult in China, where the authorities have recently banned their commercial headquarters by hosting events that promote bitcoins and other digital currencies.

It is not surprising that You Bing encountered a certain number of jokes during his journey.

On the first day of the challenge, You Bing could not find a food vendor who would accept bitcoins. Instead, she was forced to survive with "four packets of ketchup" and samples of food from a supermarket, before sleeping in a McDonald's of 24 hours, says the Chepicap encrypted news site.

On the third day, he ended up in hospital, after becoming "very weak from not eating properly", the site continues.

However, You Bing had already achieved considerable follow-up through social media, many of which later offered his food in exchange for cryptocurrency.

Now, with three days of difficulty to complete, You Bing has created a list of hotels, restaurants and ticket providers for public transport that accept bitcoin transactions.

Fans say the documentary shows that it's only possible to live with digital coins, but as TechCrunch notes, there's still a long way to go before the bitcoin, or any other cryptocurrency, becomes suitable for a "wider consumption".

And this could be complicated, with a growing presence of "Scam coins" in the cryptocurrency market that has ruined the reputation of technology in recent years, says the technology site.

Bitcoin's fluctuating value will also put many sellers at a disadvantage – along with other fans who are considering attempting the 21-day You Bing challenge.

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