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    Author Topic: China's President Xi Jinping VS Bitcoin  (Read 904 times)

    • Chrystora123 (OP)
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    October 25, 2019, 04:43:24 PM
     #1
    this is the Chinese president's speech about his ambition towards Blockchain technology..


    source: https://www.theblockcrypto.com/post/44646/xi-jinping-says-to-let-china-take-the-leading-position-in-blockchain

    here I will not discuss Blockchain technology because China is certainly very accepting of the existence of Blockchain technology

    I would like to discuss whether you think this is Xi hidden message to the world that they are able to make a perfect cryptocurrency than Bitcoin?

    indeed blockchain technology is not only related to cryptocurrencies, but I think Xi has another intention!!

  • hatshepsut93
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    October 25, 2019, 05:14:48 PM
     #2
    Quote from: Chrystora123 on October 25, 2019, 04:43:24 PM
    I would like to discuss whether you think this is Xi hidden message to the world that they are able to make a perfect cryptocurrency than Bitcoin?


    No government in the world can make a coin that is better than Bitcoin, even if they really wanted to, because you can't just hire people and tell them to create the best cryptocurrency in the world. It takes talent to make a great cryptocurrency, and currently most of the talent is concentrated in Bitcoin. This is why I'm not worried that an altcoin, a company or a government will dethrone Bitcoin, Bitcoin is miles ahead of them all.

    Also, governments aren't interested in creating a true cryptocurrency, they want to make centralized shitcoins that are fully under their control - those things can't compete with Bitcoin, they attract totally different people.

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    October 25, 2019, 05:22:36 PM
     #3
    The President of China makes the right choice. Blockchain is too good technology to ignore. However, the adoption of Blockchain is not the adoption of Bitcoin and it is sad. China realizes that Bitcoin is dangerous, it will deny China from a share of power

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    October 25, 2019, 05:27:28 PM
     #4
    Quote from: hatshepsut93 on October 25, 2019, 05:14:48 PM
    Quote from: Chrystora123 on October 25, 2019, 04:43:24 PM
    I would like to discuss whether you think this is Xi hidden message to the world that they are able to make a perfect cryptocurrency than Bitcoin?


    No government in the world can make a coin that is better than Bitcoin, even if they really wanted to, because you can't just hire people and tell them to create the best cryptocurrency in the world. It takes talent to make a great cryptocurrency, and currently most of the talent is concentrated in Bitcoin. This is why I'm not worried that an altcoin, a company or a government will dethrone Bitcoin, Bitcoin is miles ahead of them all.

    Also, governments aren't interested in creating a true cryptocurrency, they want to make centralized shitcoins that are fully under their control - those things can't compete with Bitcoin, they attract totally different people.

    More power in setting rules and standards internationally!!

    It felt like they already achieved that already. But learning now that China intend to dominate, i will definitely invest projects in these area. If the only way to do it is to first buy digital yuan, then I guess most of the investors are also going to need digital yuan.  Centralized as it may seem, its exactly what they need. What the government needs.

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    October 25, 2019, 05:32:13 PM
     #5
    I don't trust communists and dictators.. Whatever they tell they will always have some personal interests behind them. You can call me a bitcoin maximalist, but I don't think we need another cryptocurrency. Bitcoin is perfect and more than what our world needs at the moment. It is also flexible as we can have consensus on any changes, but IMO Satoshi thought at all intricacies of how this cryptocurrency is going to grow when he/she/they created the code. We need a world currency, a good store of value, not national currencies controlled by governments or any other entities.
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    October 25, 2019, 05:42:07 PM
     #6
    Quote from: Chrystora123 on October 25, 2019, 04:43:24 PM
    here I will not discuss Blockchain technology because China is certainly very accepting of the existence of Blockchain technology
    I would like to discuss whether you think this is Xi hidden message to the world that they are able to make a perfect cryptocurrency than Bitcoin?
    indeed blockchain technology is not only related to cryptocurrencies, but I think Xi has another intention!!
    Xi has attention for blockchain technology through bitcoins. I dont thing more cryptocurrency be able beat bitcoins, since bitcoins was built based big trust of community wwhole the planet. Xi clearly talking about blockchain tech, but in other corner that is one proof bitcoin had perfect things in all aspects of bitcoin.

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    October 25, 2019, 05:45:02 PM
     #7
    I was feeling dejected after the recent price crash of Bitcoin. But a few minutes back I was checking Bitstamp and found that the prices have moved up by +14% during the last few hours. Searched for the reason behind this sudden price movement and was surprised to find that Xi Jinping's comment on Blockchain technology caused the spike this time. Normally it is China which plays a major part whenever the prices crash. For a change, they have triggered a spike this time. Let's see whether we can touch $10K this week.  Grin
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    October 25, 2019, 05:52:04 PM
     #8
    Quote from: Chrystora123 on October 25, 2019, 04:43:24 PM
    this is the Chinese president's speech about his ambition towards Blockchain technology..


    source: https://www.theblockcrypto.com/post/44646/xi-jinping-says-to-let-china-take-the-leading-position-in-blockchain

    here I will not discuss Blockchain technology because China is certainly very accepting of the existence of Blockchain technology

    I would like to discuss whether you think this is Xi hidden message to the world that they are able to make a perfect cryptocurrency than Bitcoin?

    indeed blockchain technology is not only related to cryptocurrencies, but I think Xi has another intention!!
    First of all the title is a bit misleading it looks as if china is against Cryptocurrencies and xi jinping is banning it while it's the Inverse as per post. China is always known to excel in certain modern technology to ensure that they are leading the world. They did the same with marvellous manufacturing technologies and I think they are trying to do the same with blockchain too. But just thinking use of blockchain as a currency is a bit conventional. This saying means china wants to expand blockchain into every sphere.

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    October 25, 2019, 05:56:44 PM
     #9
    Some people suspect that Xi's recent comments on Bitcoin is part of the reason why BTC experienced such an impressive pump earlier (and still ongoing).

    However, the truth is it was probably just a massive short squeeze, you should see the number of short liquidations on BitMEX and Deribit, there was some serious carnage.

    Either way, a previously anti-crypto country of this size changing its tune is definitely big news for the industry.

  • trumpman
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    October 25, 2019, 05:59:07 PM
     #10
    Quote from: Chrystora123 on October 25, 2019, 04:43:24 PM
    this is the Chinese president's speech about his ambition towards Blockchain technology..


    source: https://www.theblockcrypto.com/post/44646/xi-jinping-says-to-let-china-take-the-leading-position-in-blockchain

    here I will not discuss Blockchain technology because China is certainly very accepting of the existence of Blockchain technology

    I would like to discuss whether you think this is Xi hidden message to the world that they are able to make a perfect cryptocurrency than Bitcoin?

    indeed blockchain technology is not only related to cryptocurrencies, but I think Xi has another intention!!

    Here we go again! China this, china that! Coming up, in next weeks head lines: China thinking of banning all cryptos because reasons.... I think Xi and friends made quite a nice buck these days Wink

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    October 25, 2019, 06:01:09 PM
     #11
    Quote from: Blowon on October 25, 2019, 05:42:07 PM
    Quote from: Chrystora123 on October 25, 2019, 04:43:24 PM
    here I will not discuss Blockchain technology because China is certainly very accepting of the existence of Blockchain technology
    I would like to discuss whether you think this is Xi hidden message to the world that they are able to make a perfect cryptocurrency than Bitcoin?
    indeed blockchain technology is not only related to cryptocurrencies, but I think Xi has another intention!!
    Xi has attention for blockchain technology through bitcoins. I dont thing more cryptocurrency be able beat bitcoins, since bitcoins was built based big trust of community wwhole the planet. Xi clearly talking about blockchain tech, but in other corner that is one proof bitcoin had perfect things in all aspects of bitcoin.


    He is only talking to China itself that they needed blockchian not just in cryptocurrency but to any field. So if other countries sees there is the need also, they do what they can also for cryptocurrencies to prevail and adopt in the country. President Xi sees a lot of countries already up to making legal action to crypto but before that happens China has it already and be the first in line in case any country wants to adopt learn through China.

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    October 25, 2019, 06:05:08 PM
     #12
    It doesn't matter what cryptocurrency they make they won't be able to take out bitcoin just because people like it know it and are used to using it. Andreas Antonopoulos had a talk about it and compared it to Google and all other different companies who tried to make their own search engine and failed, including Microsoft. People simply wanted google and stayed with it. It's ultimately going to be our choice if we stay with Bitcoin or choose its Chinese version.

  • watergold
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    October 25, 2019, 06:25:41 PM
     #13
    Quote from: darkangel11 on October 25, 2019, 06:05:08 PM
    It doesn't matter what cryptocurrency they make they won't be able to take out bitcoin just because people like it know it and are used to using it. Andreas Antonopoulos had a talk about it and compared it to Google and all other different companies who tried to make their own search engine and failed, including Microsoft. People simply wanted google and stayed with it. It's ultimately going to be our choice if we stay with Bitcoin or choose its Chinese version.

    Today bitcoin has risen to the level of $ 8,500 and this is very exciting for many people, especially those who buy at the price of $ 7,500.
    I am sure bitcoin will reach $ 22k in the not too distant future and recently being talked about is that Chinese President Xi Jinping because the Chinese government will adopt the blockchain, and this pumping might happen because of this news.
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    October 25, 2019, 06:31:21 PM
     #14
    Quote from: trumpman on October 25, 2019, 05:59:07 PM
    Quote from: Chrystora123 on October 25, 2019, 04:43:24 PM
    this is the Chinese president's speech about his ambition towards Blockchain technology..


    source: https://www.theblockcrypto.com/post/44646/xi-jinping-says-to-let-china-take-the-leading-position-in-blockchain

    here I will not discuss Blockchain technology because China is certainly very accepting of the existence of Blockchain technology

    I would like to discuss whether you think this is Xi hidden message to the world that they are able to make a perfect cryptocurrency than Bitcoin?

    indeed blockchain technology is not only related to cryptocurrencies, but I think Xi has another intention!!

    Here we go again! China this, china that! Coming up, in next weeks head lines: China thinking of banning all cryptos because reasons.... I think Xi and friends made quite a nice buck these days Wink

    I think a SR member should know that    Blockchain is not just crypto currency..
    China is encourage blockchain technology, but crypto-currency is not included !

    Today's market moving is because of the Chinese president's speech!
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    October 25, 2019, 06:47:08 PM
     #15
    Quote from: DarkDays on October 25, 2019, 05:56:44 PM
    Some people suspect that Xi's recent comments on Bitcoin is part of the reason why BTC experienced such an impressive pump earlier (and still ongoing).

    However, the truth is it was probably just a massive short squeeze, you should see the number of short liquidations on BitMEX and Deribit, there was some serious carnage.

    Either way, a previously anti-crypto country of this size changing its tune is definitely big news for the industry.
    Market participants are happy with the rumors/news and the accumulation has only just begun, short liquidation is still connected in the previous direction and conditions will bounce because BTC prices are improving.

    I read the news is still only about exposure to technology, but many people know that the capitulation of bitcoin is the first thought when people hear the word "blockchain"

    the next few days I am interested in who else is the big figure who answered xi jinping, this will create a wave that can be confirmed to trigger the price.

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    October 25, 2019, 06:54:53 PM
     #16
    The 'heavyweights' are gradually finding a way to come into Bitcoin. Deep down, they know it's the future and it is at inevitable, but for obnoxious reasons, they just decide to place some restrictions on it. I'm happy for the news, at least Bitcoin that has already started taking a negative movement is well back to it's feet, I hope things take up from here.

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    October 25, 2019, 07:05:08 PM
     #17
    Quote from: hatshepsut93 on October 25, 2019, 05:14:48 PM
    Quote from: Chrystora123 on October 25, 2019, 04:43:24 PM
    I would like to discuss whether you think this is Xi hidden message to the world that they are able to make a perfect cryptocurrency than Bitcoin?


    No government in the world can make a coin that is better than Bitcoin, even if they really wanted to, because you can't just hire people and tell them to create the best cryptocurrency in the world. It takes talent to make a great cryptocurrency, and currently most of the talent is concentrated in Bitcoin. This is why I'm not worried that an altcoin, a company or a government will dethrone Bitcoin, Bitcoin is miles ahead of them all.

    Disagree, money is money, whoever have the money, will be have more opportunity. money will give any startup ability to cut up some miles from their leading competitor, might not make them to be the first at early stage, but money will have much impact in competition

    Quote from: hatshepsut93 on October 25, 2019, 05:14:48 PM
    Also, governments aren't interested in creating a true cryptocurrency, they want to make centralized shitcoins that are fully under their control - those things can't compete with Bitcoin, they attract totally different people.

    Agree

    but ...

    Like many big organization that jump to crypto world, i think if china make any new coin, it will be stable coin, in other word, they will be in different market than bitcoin has

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    October 25, 2019, 07:15:15 PM
     #18
    it seems like yet another vague statement from a government and the news sites that are going ape shit over it, the worst part is that the statement doesn't seem to be exactly about bitcoin if at all. it is talking about the "blockchain technology".
    in the end the governments want to keep and increase their control, that means trying to "compete" with something they couldn't fight (ie. bitcoin) which requires adopting its technology and staring their futile attempt.
    There is a FOMO brewing...

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    October 25, 2019, 08:28:52 PM
     #19
    Quote from: Chrystora123 on October 25, 2019, 04:43:24 PM
    this is the Chinese president's speech about his ambition towards Blockchain technology..


    source: https://www.theblockcrypto.com/post/44646/xi-jinping-says-to-let-china-take-the-leading-position-in-blockchain

    here I will not discuss Blockchain technology because China is certainly very accepting of the existence of Blockchain technology

    I would like to discuss whether you think this is Xi hidden message to the world that they are able to make a perfect cryptocurrency than Bitcoin?

    indeed blockchain technology is not only related to cryptocurrencies, but I think Xi has another intention!!


    As we understand from this article that China has problems with crypto coins, but they don't want to stay back on blockchain technology from other countries also.

    But I can't understand something. Why China don't like Bitcoin? Why they are not trying to use advantage of crypto market in Asia? I think if they want to improve cryptocurrencies, they can make it easily in Asia. And if we think about Chinese company use this cryptocurrencies, it would be much more easier.

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    October 25, 2019, 09:19:59 PM
     #20
    Quote from: watergold on October 25, 2019, 06:25:41 PM
    Today bitcoin has risen to the level of $ 8,500 and this is very exciting for many people, especially those who buy at the price of $ 7,500.
    I am sure bitcoin will reach $ 22k in the not too distant future and recently being talked about is that Chinese President Xi Jinping because the Chinese government will adopt the blockchain, and this pumping might happen because of this news.

    Almost 8800 on Bitstamp Smiley

    Blockchain doesn't mean Bitcoin. They can use blockchain to store information or verify messages and it will mean nothing for Bitcoin.

    They can do what they like and as long as they don't ban Bitcoin their altcoin will not have a big positive or negative influence. There's plenty of people in the world for Bitcoin to be successful and worth 10 times more than now even if some of them choose a Chinese altcoin.
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