China Updates Crypto Rankings, Downgrades Bitcoin

[Boombull]

The China Center for Information Industry Development has updated its crypto rankings. The list contains 33 crypto projects, ranked overall and in three separate categories. High up in the overall ranking are EOS, Ethereum, and Bitshares. Bitcoin, however, has been downgraded.

Read more here 👉 https://news.bitcoin.com/china-crypto-rankings-bitcoin/

What does this indicate for Bitcoin in some years to come?

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[rose9696]

The China Center for Information Industry Development has updated its crypto rankings. The list contains 33 crypto projects, ranked overall and in three separate categories. High up in the overall ranking are EOS, Ethereum, and Bitshares. Bitcoin, however, has been downgraded.

Read more here 👉 https://news.bitcoin.com/china-crypto-rankings-bitcoin/

What does this indicate for Bitcoin in some years to come?

well, that's the basic-tech index. I think it will affect the altcoins but can not affect Bitcoin. Bitcoin's capitalization is still very high and it is not involved in competing among other altcoins because it is the king. I always believed that it would never lose its No. 1 position.

[SuiMikira]

In the rank last time, Ethereum was in the first position but EOS overtakes it now. Bitcoin also, disappears from top coins. This rank is mainly based on technical, not the market cap so it's easy to understand why Bitcoin didn't appear on the top rank. If we make the rank following market cap, Bitcoin is still the top 1 coin with $116B, ETH is at top 2 with only $24B market cap.

[Herbert2020]

again like all the previous times they are ranking the cryptocurrencies based on their centralization factor and they rank the most centralized altcoins on top and the more decentralized and out of their control the coins are the lower their ranks will be.

the interesting thing about this however is the fact that people who have not been giving any shit about China are not so interested in what the Chinese government is saying about altcoins only because the bags they are holding are on top of their list regardless of how much money they are losing

[Rhosadah]

all depending on the trading volume currently the first rank gets the highest trading volume in all of Crypto, bitcoin remains the highest volume, number two Eth, BCH, EOS,
As for EOS being the highest volume as in China due to the best-selling EOS trading volume there, but globally bitcoin and Eth are still the top of all crypto.

[SuiMikira]

all depending on the trading volume currently the first rank gets the highest trading volume in all of Crypto, bitcoin remains the highest volume, number two Eth, BCH, EOS,
As for EOS being the highest volume as in China due to the best-selling EOS trading volume there, but globally bitcoin and Eth are still the top of all crypto.

No, you're wrong. This rank is based on technology. You can see 3 things they use to give points are Basic-tech, Applicability, Creativity and Basic-tech is the highest point field.

[adrianto1995]

No matter what China said, I still choose Bitcoin as the #1 cryptocurrency in the world. I know the technology behind Bitcoin getting old and many other coins have more advantage than Bitcoin, but Bitcoin is the mother of cryptocurrency and still used with many people around the world as a payment option and investment...

[vfrcbv91]

I think that this is not an objective rating and he should not be trusted. I think it will not have any impact on the market and bitcoin.

[jseverson]

What does this indicate for Bitcoin in some years to come?

Nothing at all. The market decides which coin is best, and the current runaway winner is Bitcoin. There are zero indicators that something will leapfrog it anytime in the near future either. Bitcoin is only going to get better and the gap is only going to get larger.

To further support that stand, this is a ranking put out by the Chinese government -- the very same anti-crypto government that banned ICOs and fiat exchanges. I'm not saying that this is propaganda (though it could easily be, knowing them), just that they're not exactly in a good position to rate cryptocurrencies in the first place lol.

[talkbitcoin]

The China Center for Information Industry Development has updated its crypto rankings. The list contains 33 crypto projects, ranked overall and in three separate categories. High up in the overall ranking are EOS, Ethereum, and Bitshares. Bitcoin, however, has been downgraded.

Read more here 👉 https://news.bitcoin.com/china-crypto-rankings-bitcoin/

What does this indicate for Bitcoin in some years to come?

well, that's the basic-tech index. I think it will affect the altcoins but can not affect Bitcoin. Bitcoin's capitalization is still very high and it is not involved in competing among other altcoins because it is the king. I always believed that it would never lose its No. 1 position.

it won't affect either of them because these things are always going to be ignored by everyone in the market. some pumpers around the altcoin market may pick up the news and try miserably to pump their altcoin for a little while  but that would be about it.

[hugeblack]

The China Center for Information Industry Development has updated its crypto rankings. The list contains 33 crypto projects, ranked overall and in three separate categories. High up in the overall ranking are EOS, Ethereum, and Bitshares. Bitcoin, however, has been downgraded.

I began to doubt the validity of this news, news from Bitcoin.com's website and BCH is not at the top of the list.
Even Bitcoin is the highest rating than BitcoinCash.
This category based on three criteria: Basic-tech, Applicability, and creativity.
Bitcoin outperforms everyone in the last two rankings, but I do not know why wrong ratings given to the first one "FUD."

[kidsrock]

I wonder what they use to determine the current rankings because I see that bitcoin is not on the number one and I think I don't believe with this. For me, bitcoin still in the number one and the altcoin is behind on bitcoin only for now. I think soon, they will change their crypto rankings, and they realize that they make a wrong list on the sites. Although the other coin has potential to increase, still, bitcoin will lead the crypto to the right path, and they will follow bitcoin.

[ubiheal200]

In the previous rating, Ethereum was in the first place but the EOS overtook it right now. This rank is mostly based on technology rather than market capitalization, so it's easy to understand why. Bitcoin does not appear in the top spot. Again like all previous times they ranked electronic money based on their focus factor and they ranked the most concentrated altcoins on the head and decentralized over and beyond the control of the coins. Their rank will be lower. All depends on the current trading volume ranked first with the highest trading volume in all Crypto, bitcoin is still the highest volume, the second is Eth, BCH, EOS, regardless of China I still choose Bitcoin as the world's No. 1 electronic currency. I think this is not objective assessment and should not be trusted.

[Wind_FURY]

The researchers behind the Chinese Center for Information Industry Development want to make a perception that Bitcoin is a technically less-viable project. That's ok because we know that they only want to pursue their own agenda, which is usually "profit".

But 10 years from now, I promise everyone reading this post that EOS will be out of the top 10 together with Ethereum and most of the "smart contract" platforms. Why? Because their "blockchain" will be so bloated, their network centralized, that there will be no advantage for developers to use them, only disadvantages.

Bitcoin will be always there, as dependable, and as strong as ever.

[fakegurutu]

The China Center for Information Industry Development has updated its crypto rankings. The list contains 33 crypto projects, ranked overall and in three separate categories. High up in the overall ranking are EOS, Ethereum, and Bitshares. Bitcoin, however, has been downgraded.

Read more here 👉 https://news.bitcoin.com/china-crypto-rankings-bitcoin/

What does this indicate for Bitcoin in some years to come?

Thats just their way of spreading FUD (Fear, Uncertainty, Doubt) to bitcoin but actually, most whales are from china. Their making a false rankings of the altcoins and downgrading bitcoin so that its value will fall, and if that falls, they will buy more bitcoin and they will turn things around.

[Kprawn]

The thing is, who cares about these rankings and why does it even exist? Most of these rankings are only used for pumping

specific Alt coins, where these people are invested in at the time, so it is serving it's masters and not the people of China. I

would just ignore the rankings and continue as normal. Nothing to see.... just move on. 

[kaya11]

again like all the previous times they are ranking the cryptocurrencies based on their centralization factor and they rank the most centralized altcoins on top and the more decentralized and out of their control the coins are the lower their ranks will be.

the interesting thing about this however is the fact that people who have not been giving any shit about China are not so interested in what the Chinese government is saying about altcoins only because the bags they are holding are on top of their list regardless of how much money they are losing

Does this ranking shake things up? Will it be affecting the price of BTC? Well if that is the case then those 33 coins will be affected too since alts are correlated with the price of Bitcoin. What do you think-what is it they want or their purpose of ranking those alts? Or maybe it is just another way to advertise the coins.

[Herbert2020]

again like all the previous times they are ranking the cryptocurrencies based on their centralization factor and they rank the most centralized altcoins on top and the more decentralized and out of their control the coins are the lower their ranks will be.

the interesting thing about this however is the fact that people who have not been giving any shit about China are not so interested in what the Chinese government is saying about altcoins only because the bags they are holding are on top of their list regardless of how much money they are losing

Does this ranking shake things up? Will it be affecting the price of BTC? Well if that is the case then those 33 coins will be affected too since alts are correlated with the price of Bitcoin. What do you think-what is it they want or their purpose of ranking those alts? Or maybe it is just another way to advertise the coins.

this is not the first time they released such ranking. the first time i remember had no effect on anything. people got hyped up for half a day and one of two coins go a small pump because of it but eventually the hype vanished because at the end of the day people don't care about a government released ranking specially when it is Chinese government!

[Wind_FURY]

The thing is, who cares about these rankings and why does it even exist? Most of these rankings are only used for pumping

specific Alt coins, where these people are invested in at the time, so it is serving it's masters and not the people of China. I

would just ignore the rankings and continue as normal. Nothing to see.... just move on. 

Plus who granted the rights for those people to become the authority to rank cryptocurrencies and make that something "official"? Are they developers who have extensive experience in cryptography?

[coinwizard_]

Putting EOS at the top shows how clueless they are when it comes to crypto. EOS haven't even produced anything usable yet, anyone can create theories so they should base it on completed products instead