As I have maintained on many occasions, reports of the death of Bitcoin have been greatly exaggerated. If anything, the news related to the most popular crypto-currency ever has only gotten considerably more positive in the wake of the raid on Silk Road. The most recent development is that massive web services site Baidu, Inc. has started to accept Bitcoin for its Jiasule service. I wonder if this is in any way related to the recent Chinese calls for a new reserve currency, as I can’t imagine the company would go ahead with accepting BTC without at least some “all clear” from authorities. If this signals implicit approval for Bitcoin by political leaders in China (it’s too early to tell), it would have paradigm-shifting global consequences.