Bitcoin Forum

EOS is again the leader in China. This time Bitcoin was in 11th place.
I have several questions:
1) Why does EOS have such respect among Chinese crypto users?
2) Recently, the Chinese media resource cctv.com released a reportage about Blockchain and how Bitcoin is based on technology and how it works. Could this affect the change of leader among cryptocurrencies in China, I mean, will Bitcoin be more used in the country?

https://cointelegraph.com/news/eos-holds-top-spot-bitcoin-11th-in-chinas-latest-crypto-rankings

the next interesting asset is on the 2nd place, TRX (Tron)
well, I like those numbers cause I have faith in those projects too, but on the question why they are on the top of the China leaderboard I have no logic answer

This is a very exciting thing to look at. This topic really piques the interest of many and I also have read that list. China have really made its moves and is really making itself known in the world as one of the countries that have blockchain advantage.But something is bugging me, why is it that EOS is number on where in fact it is relying on Ethereum platform. I also dont know why bitcoin has been left behind in that list.

The thing is that Bitcoin does not have smart contracts or sidechains built upon it. In my opinion that is the reason why it has been ranked lower than shitcoins like EOS, Tron, NEO, etc. As the name of the index implies the rankings assess the technology behind the public blockchain, not their popularity, already built use cases, ecosystem economy or positive evaluation potential. I wouldn't put much emphasis on these rankings, but it is good that we get this kind of analysis. It means the world is interested in these technologies and we might see their implementation sooner rather than later.

I think so. Most likely the reason for dominating these altcoins finds in the technology behind the public blockchain. I wonder which cryptocurrency is most popular as a means of payment in China? If Bitcoin is in 11th place, so unlikely this coin is

There are only small avenues for profit on bitcoin whereas these coins provide a much wider variety of profit sources apart from the token/coin itself. Also, given that bitcoin market is already saturated with tons of traders making a move of their own, it will be harder for the Chinese folks to influence the price of bitcoin and collect profits on the fly.

China didn't based the rankings by their popularity in the outside of china market but instead they use the ease of using such a coin and it's potential. Maybe EOS and tron are accepted there and more adopted and accepted by people there making then number 1 and 2 on china.

Honestly, who cares? Everyone knows that BTC will always be the king and anyone saying otherwise are simply fooling themselves. There are many cryptocurrencies with far more advanced tech when compared to BTC, but the popularity factor is what matters the most in this case.

The Chinese government just like many other world governments fear Bitcoin and will probably never accept it though they admire the tech behind it which is the sole reason why they appreciate the advanced tech behind EOS etc.

I want to know why EOS is ranked top in China, I visited the eos site and tried to analyze the cause, maybe because eos has a good concept,
Visi Strategis EOS :
Scalability: More apps, more users
Developers: Better tooling, faster app development
Users: Greater security, less friction
Enterprise: Greater flexibility, better compliance
Although bitcoin is the main crypto, in my opinion, rarely people use it because the transaction costs are expensive and slow.

After the reportage by CCTV, the number of 'Bitcoin' requests in WeChat has doubled. I think this will add popularity to Bitcoin in China

As far as I can think the only reason is that EOS has the most swift  blockchain and moreover it's also developed in China itself. Chinese are always known to promote things developed in house. Other Cryptocurrencies are innovated outside China. i think EOS and TRON will always be leader in chinese markets.

This is really interesting. EOS is on top, Ethereum at number 3 and Bitcoin at just number 11. It should be noted however that this is just an opinion of a department of the Chinese government -- China Electronic Information Industry Development (CCID) to be exact -- and as to how they made the ranking that could be subject to some debates. In CMC, EOS is ranked number 7. There must be something with EOS that Chinese are falling in love with. The three criteria used in the rankings are: technology, application, and innovation.


There is a possibility for that. We know the media and all departments of the government will always toe their line whenever there is that directive from the top. In case, top honchos will decide that it is time to support Bitcoin am sure this ranking will be changed as fast as lightning. That is how China works. they speak the language of their top leader, come what may. In the meantime, a great congratulations to EOS for this unexpected recognition.

It is always a good thing that countries are gradually accepting the use of cryptocurrencies. Even if bitcoin is not the first crypto coin used by people in a country, I'm always happy when they accept the use of cryptocurrencies in general.  The use of cryptocurrencies in China will bring great improvement to the adoption of cryptocurrency in the world. The world need to adapt to the use of cryptocurrencies first before the dominancy of a particular crypto coin can be considered. For now, we adoption rather than the most used crypto coin in a particular country...

Bitcoin cannot be controlled, which is why China only admires Bitcoin but does not accept it. However, I see China`s strong desire to create its own national cryptocurrency, however, I doubt that the Chinese will choose “secured” Chinese cryptocurrency instead of Bitcoin lol

But for me no enough reason to kick bitcoin to number 11 position,imagine those shitcoins are more adopted by the Chinese people things that this market of ours will never be accepted ,but anyway let’s respect its their country and why we need to be affected since their president release a important message about blockchain technology and so for the crypto community as well

Since you have invested in EOS there’s no doubt all the good things about your coin will be mentioned 😂

I also believe in the future dominance of TRX. Justin Sun takes great care and develops the TRON ecosystem now

Regardless of which Cryptocurrency is topping the charts in China, the hood thing there is that there has been some good solid development from China as regards to cryptocurrencies and Blockchain technology in general. EOS is a good alt with a very nice project behind it.

China has been showing a great impact with the value of bitcoin but I don't think so... After the insight of the president to blockchain, he's only into blockchain but not literally bitcoin. What if the government will ban bitcoin or would create their own cryptocurrency. Then that will make most of the Chinese people to adopt that currency rather than bitcoin.

So they do still remain EOS on their top choice yet its been published the same thing on last year too: https://www.ccn.com/china-ranks-eos-as-the-1-blockchain-bitcoin-doesnt-make-top-ten/

Dont know on whats their criteria on choosing up on which project to support but well its their own choice.Its clear somehow that they dont like BTC.

It simply means that they're not focusing on the ranking of coins. It's actually a good thing that they're also into altcoins. It will bring a positive impact on the prices of altcoins which could bring hopes for most holders. EOS is also a promising coin with huge potential. If China is accepting altcoins, I'm sure that massive altcoin adoption could happen in the future.

It makes sense, tron is mostly an Asian based project and they also operate on a blockchain that was literally built for the entertainment industry, which is huge in china, therefore it has a lot of traction.

Very shocking to see bitcoin not even at the top 10 spot. I guess for Chinese investors, when they think crypto-currencies, they end up thinking about their altcoins and all the IEO's operated on Chinese exchanges.

EOS is likely so popular due to it having such a well designed ecosystem... Not sure why investors will gravitate towards EOS then ETH. From other sources it looks like NEO is pretty big in China as well

BTC is the best, but that does not mean that altcoin has no chance. That is why the Chinese government made several such lists. I don't think it's frightening, so don't use bitcoin directly, it's just that it's more focused on exploiting opportunities and adopting more lives for life. TRX, EOS, with a communicative and clear team are definitely easier to collaborate with, while with bitcoin the partnership can only be one-way. IMHO

EOS is filed with dapps related to gambling and same with TRON which is why this is widely used by Chinese. If NEO were to be going to the gambling direction, they could have started developing gambling platform since 2016 but I guess they are going to other path.


What is more interesting is that the media says China prohibit the use of cryptocurrency but CCID Research is providing their list of coin ranking base on how many users are using the coin.

The reason I see why Chinese preferred to use EOS is because it is centralized, compared to altcoin and bitcoin that is decentralized, EOS will provide the regulation for the cryptocurrency users, though, they might not giving importance to the market price, we can say that they are seeing the market value of the altcoins in the market which we sometimes didn't see and think. Later on, Chinese will surely start to utilize bitcoin as well as soon as they trust cryptocurrency even more.

Don’t you think that they are just being biased about this project, and reason being that they are china based project and now that china is full in support of blockchain, they would rather support their own already established project instead of thinking of building another one since people are already used to this one. Apart from speed that people have complained about bitcoin, I think bitcoin is still the best project that I have ever seen in this crypto sphere.

EOS platform may be fast now, but wait until EOS is really full too like bitcoin and see whether we will still have this recommendation about them. EOS is a very great project, I would not be biased about that, but can still not be competed with bitcoin and I will retain my stand on this no matter what.

Maybe there is something on their white paper that made the Chinese people to choose EOS in spite of having bitcoin as the number one on the list of top coins in coinmarketcap. I feel something odd on their choice, it feels like there is a manipulation happening. Whatever their reason we can't do anything about it so let them choose what they want because if you are a wise investor you would choose what's best for you.

it not just recently , the chinese government ranking has never been favourable to bitcoin
it is usually top 10-12 place only , losing to EOS, TRON and even Buterin's Etherium

https://i.imgur.com/fKMy6nsh.jpg

mind you , it doesn't mean that bitcoin is better or worse than EOS or TRON , it is just that chinese think that the altcoins topping the list
are better for their purposes , they announced further blockchain based projects promotion and development
and both EOS and TRON are , arguably , better suited for these purposes

do not fixate on this , a similar rating , Weiss  gave bitcoin A , for example :
https://decrypt.co/7812/bitcoin-finally-gets-an-a-from-weiss-ratings

In China, they evaluate cryptocurrency technology, its functionality and development prospects, rather than popularity. By these indicators, bitcoin is already inferior to many types of cryptocurrencies. In fact, the Chinese cryptocurrency rating is very interesting. It needs to be looked at and taken into account. However, it should also be noted that in China they value cryptocurrency developed in their country more. Therefore, EOS is there and in the first place.

For the best thing in China, Cryptocurrency is getting popular and acceptable whenever you see a ranking chart of this system. that's enough, I don't mind that Bitcoin is the 11th position, it doesn't make any negative sense, this is the reality of every system, no one is fixed for the top forever, Keep aside this portion, I think it's an interesting thing that again there is a good movement of Cryptocurrency, especially they are focusing on the Altcoins, that's a good thing, though I am a little bit surprised to see EOS is the top of this chart, whatever it is, this is a good scenario regarding cryptocurrency. Now hope to see another movement from the China government for Bitcoin's legal status.

yes i agree with you i think this is a strategy of the chinese government so that bitcoin does not dominate the crypto market. they finally chose to elevate EOS. and lately I have also heard that the Chinese government will soon launch its own crypto named DCEP. I'm sure that in the future China will push this DCEP coin to become a bitcoin competitor. but I am sure bitcoin will not be defeated and will be king in cryptocurrency

Basically the ranks are determined not by the ranks on the coinmarketcap or other cryptocurrency ranking sites. It is from the peoples decision and as well as the marketing that the government is doing. Most of the times, the major reason why these happens that not the best is chosen, is because of who is the influential people who directs the attention of the whole chinese community on have their preference on what cryptocurrency to choose. In this case, EOS impacts the chinese so much mainly because someone influence them on what the EOS can do. In addition, there is a language barrier to consider why chinese might not see the best our of the currencies that we like.

China is making an aggressive move towards cryptomarket competition, China's own crypto is backed by gold and China has 20,000 tons of gold and it is big enough to battle with USD. It is said that China is secretly hoarding some gold. They aren't fighting with bitcoin, According to my reference, they are battling against USD.

Reference: https://bitcoinist.com/china-cryptocurrency-gold-backed-says-max-keiser/