Cryptocurrency In China: Bitcoin Drops To 17th Rank

[poo anoj]

Cryptocurrency in China is gaining high popularity as the government is revising the projects ranking from time to time. In the second run of the rating, there is an addition of two latest crypto projects. In the overall list of 30 virtual projects EOS tops the list leaving behind Ethereum to second place and Bitcoin on 17th position. The system is termed as Global Public Chain Technology Evaluation Index which includes crypto and blockchain events.

https://www.owltmarket.com/cryptocurrency-in-china-bitcoin-drops-to-17th-rank/

[talkbitcoin]

they are ranking these coins based on centralization and the control they can have over them. Ethereum has been the most centralized coin and they plan on fully controlling its future specially with the creation of ETH ASIC machines for mining it they will soon control 100% of the mining power also and will dictate the future of it.

bitcoin shouldn't even be in the list. probably it belongs to rank 1000+ in such a list. they have included BTC only to hide the fact that their ranking is based on what i said above.

[jseverson]

I'm surprised they actually have something like this considering their general anti-crypto stance. For those wondering, the rankings are apparently done by the China Center for Information Industry Development (CCID) from the Ministry of Industry and Information Technology. Are these even easily accessible to their citizens with the exchange ban? Lol.

But yeah I'm not surprised. China likes control, and they can't really control Bitcoin in any meaningful way. The rankings don't mean much either, except maybe for the Chinese.

[St4yInTh3D4rk]

Cryptocurrency in China is gaining high popularity as the government is revising the projects ranking from time to time. In the second run of the rating, there is an addition of two latest crypto projects. In the overall list of 30 virtual projects EOS tops the list leaving behind Ethereum to second place and Bitcoin on 17th position. The system is termed as Global Public Chain Technology Evaluation Index which includes crypto and blockchain events.

https://www.owltmarket.com/cryptocurrency-in-china-bitcoin-drops-to-17th-rank/

I don't know the ranking based on what things but how they can make it to seventeenth place 

But China's ranking don't have anything to do with the actual market ans we saw that at the time of China ban so they still have smaller part in the whole crypto market so just ignore this ranking system.

[jademacoy]

Well talking about the ranking which bitcoin lands on 17th has a reason and that would be the market price for bitcoin that is so expensive. As we all know that the fiat currency in china has low value compared to dollars. And when you are going to exchange bitcoin which as of now we had the market price of 6K USD then if converting that to chinese currency that will relatively equal to 1 million on their currency and that is not a good crypto market price for the people there to invest. Ethereum is the good choice for them which landed on the second rank.

[BrewMaster]

since when are even talking about what Chinese government talks about cyrptocurrencies?

Chinese cryptocurrency market is the most broken thing. at first they had this chaotic market where the exchanges faked everything including volume and price and they were involved in a lot of illegal activity including money laundering. then they closed their exchanges and talked about bans. now that they have concluded their research on cryptocurrencies they are not categorizing them based on how they can control them.

[aladlanie04]

crytpocurrency in china will be biggest challenge for bitcoin  so many regulations on bitcoin and ico's now  its good to be regulated than ban  but currently EOS is the top 1 rank in china  eos is good cyrpto currency coin but not high potential  like NEO  neo is so popular called as second bitcoin in china but suddenly NEO is down trend now due to lack of proper updates EOS moves forward because of mainnet release all the things come up in middle but i feel bitcoin will be extremely highest all over the world i hope in china bitcoin will be regulated and accepted mode of payment like  australia and japan. that boom's the market cap.

[martychubbs]

Hmmm... I thought that cryptocurrencies is already forbidden in China, but this is good news that such a big Country as China is accepting the Bitcoin at least. This can be the first step to popularise it.

[bitfocus]

these lists are just government's list of centralized coins, only the coin with most centralized features and government control comes to the top.

[cryptohunter]

nobody with even moderate crypto knowledge takes this shit seriously

nobody has improved upon btc design without serious compromises in decentralisation or being trustless

[busua]

Cryptocurrency in China is gaining high popularity as the government is revising the projects ranking from time to time. In the second run of the rating, there is an addition of two latest crypto projects. In the overall list of 30 virtual projects EOS tops the list leaving behind Ethereum to second place and Bitcoin on 17th position. The system is termed as Global Public Chain Technology Evaluation Index which includes crypto and blockchain events.

https://www.owltmarket.com/cryptocurrency-in-china-bitcoin-drops-to-17th-rank/

How to rate a project? Bitcoin is always the first, and his status cannot be shaken. The ETH and EOS coming out later are somewhat better than Bitcoin, but they all come from and blockchain technology comes from Bitcoin.

[BlackRose220]

Well that's a good news. But In China competition is too difficult.

[yoshua27]

in china bitcoin has been banned

[Dasha88fed]

I do not trust this rating, it is too biased. How can Bitcoin be on the 17th position, if it has the largest capitalization, the largest community, the largest distribution in the world, the greatest recognition among people in the world? EOS takes the first place in the ranking? Then why does it become cheaper faster than Bitcoin in the last few months? Put EOS in first place is nothing more than manipulation of people's minds for the popularization of the EOS project. This rating is not objective and should not be taken seriously.

[bellamente]

EOS is on the 5th place in terms of trading volume.

Now the daily trading volume is $ 670,845,752

At the same time, EOS is inferior to bitcoin. But we need to understand that EOS only completed the ICO and at a cost of a token of $ 5.16 it's a huge perspective

[pempek19]

EOS platform is the toughest rival for ethereum, even bitcoin.

Maybe there will be a cryptocurrency that will replace the position of bitcoin as the parent of cryptocurrency.

[carlisle1]

they are ranking these coins based on centralization and the control they can have over them. Ethereum has been the most centralized coin and they plan on fully controlling its future specially with the creation of ETH ASIC machines for mining it they will soon control 100% of the mining power also and will dictate the future of it.

bitcoin shouldn't even be in the list. probably it belongs to rank 1000+ in such a list. they have included BTC only to hide the fact that their ranking is based on what i said above.

Great position there mate,i love the way how you depended bitcoin since its obvious that they are just added bitcoin in the list to bring the popularity down ,and thats unfair because our top coin is decentralized and don't even belong there thats why i hate reading aabout chinese news here in forum because they only made negativity to our community

[ohkkstaaahp]

If China accepts the BTC, it is a very good thing for the crypto market

[lzby2000]

It's understandable that EOS is at the top of the list. We all know that China's economy has developed rapidly in recent decades. Now China is trying to invest in various fields. Projects like EOS cater to the Chinese capital that needs to be invested now.

[GeorgiyBilyk]

this is very positive news! I think? that China is in the top 5 countries - regulating and controlling the crypto market! China has long understood that crypto currency is the future! Now we need to support and develop the crypto currency in our country! I constantly follow the news from China, their news greatly affect the growth or fall of bitcoin!