Bitcoin and other cryptocurencies are not necessary says Chinese people

[Binauf]

In a report earlier this week, it was gathered that a recent survey conducted in China brought a result of 66% saying there's no need for Bitcoin  and other cryptocurencies. Do you consider this a FUD or it's the actual representation of their thoughts?

[franky1]

fud= fear uncertainty, doubt

saying something is unnecessary is not going to cause fear
saying something is unnecessary is not going to cause uncertainty
saying something is unnecessary is not going to cause doubt

66% of americans think that a passport is unnecessary because they have no plans to leave the country.
this does not mean that passports are useless
this does not mean that passports are to be feared or people holding passports should be afraid
this does not mean that passports are now in doubt

what you need to consider is if this stat was properly representational of china
34% of chinese would consider crypto

[keyscore44]

It all depends on who was asked the question whether cryptocurrencies are needed or not. If it was a group of older people, it still looks pretty good. Let's not forget that despite positive signals, China is still a communist country, so there is a very high probability that results of such survey is not entirely true.

[mindrust]

In a report earlier this week, it was gathered that a recent survey conducted in China brought a result of 66% saying there's no need for Bitcoin  and other cryptocurencies. Do you consider this a FUD or it's the actual representation of their thoughts?

If this survey is real, then I find the numbers pretty optimistic. At least put a god damn link to the source. How the hell are we going to speculate on this without knowing who made this survey? Look how I am going to manipulate this:

If 66% of the Chinese population say there is no need for bitcoin/crypto, and since you didn't provide any source to the survey, then I can assume that the other 33% of the population is saying there is a need for bitcoin/crypto which is way higher than what I normally expect from any country.

See suddenly It looks like 33% of the Chinese population supports Bitcoin!


Which is a win in my book.

[Kolikalex55]

In a report earlier this week, it was gathered that a recent survey conducted in China brought a result of 66% saying there's no need for Bitcoin  and other cryptocurencies. Do you consider this a FUD or it's the actual representation of their thoughts?

Hello don't get me wrong but 66% of this is significant value especially for the country in which lives a huge number of people. You can specify the source in which you will learn about the results of the survey ?)

[avikz]

In a report earlier this week, it was gathered that a recent survey conducted in China brought a result of 66% saying there's no need for Bitcoin  and other cryptocurencies. Do you consider this a FUD or it's the actual representation of their thoughts?

Is this really the actual voice of the Chinese population or is it the voice of their communist government? Do you have a link of the survey that is written in English?

A lot depends on the age group of the surveyed people as well. If the survey was conducted on the 60+ age group, this is the desired outcome. But if the survey was done among the tech savy generation, I am sure the outcome would be quite different.

I personally feel that the outcome is manipulated by the government or similar enforcement agencies under the government. Chinese population can't be that much backward thinking!

[Bonsaiav]

It's possible that what the OP says is true, for me this thing certainly has something to do with the period of strict restrictions from the Chinese government that occurred a few months ago there especially on a large number of cryptocurrency investors, and some exchanges in China. Besides that, the Chinese government also prohibits the existence of anonymous trading and the prohibition of crypto in general which makes the market fall.

Previously bitcoin was a champion there, because at that time the development of bitcoin was very drastic and volatile. However, because the crypto value's considered too volatile, it seems that this condition has triggered social jealousy for the Chinese government. Instead of contributing to the development of crypto currencies, they revolutionized Antshares (ANS) into NEO which is also the only crypto currency (fully supported). Unfortunately the Chinese government's treatment is unfair because they narrow down all other crypto movements, such as bitcoin, ethereum and some of the other best coins.

[franky1]

Previously bitcoin was a champion there,

actually it wasnt
antpool is actually made up of like half a dozen facilities spread out over multiple countries
f2pool is just a stratum. (server) and people around the world linked to it
slushpool is managed from thailand
i could go on

but most propaganda was that those main pools were all "china"

even things like the ASICs. people thought was "china". but infact if they studied geography and researched the manufacturer they would know that taiwan is a separate island and country called the 'republic of china' which is different than china itself 'peoples republic of china'

anyway geography put aside

in the past it was 1% of people thought/knew about bitcoin. then a few percent.. an now if that statistic had any merit..... 34% say bitcoin has a place in the economy. which (without fluffy clouding it) if it has merit, then thats good news.

dont worry about the 66% just like no one cared about 99% just a couple years ago
the point is 34% is actually significant and positive number

[dothebeats]

I don't see any FUD in giving out an opinion. Years ago, some of you here may have also shared similar thoughts about bitcoin until you realized that it has indeed some place in the current financial landscape of the world. The 66% isn't really a static number of anti-bitcoiners, and that's only confined in China, too, so i don't think there shouldn't be any worries whatsoever as we're only talking about a single country in here.

Oh and remember, China is the land of uncertainty for bitcoin and crypto, yet they are still in the game for years.

[bbc.reporter]

In a report earlier this week, it was gathered that a recent survey conducted in China brought a result of 66% saying there's no need for Bitcoin  and other cryptocurencies. Do you consider this a FUD or it's the actual representation of their thoughts?

It is unnecessary for each of them until their authoritative goverment orders the banks to seize their bank accounts for some reason. Also those people who took the survey are possibly those ordinary residents who care only to go to school, work and die peacefully.

[mk4]

Can you put in the source of that claim?

Anyway, it can be true. It's probably just due to the Chinese people thinking about the current financial system, "why fix it, if it ain't broke", without knowing about the pitfalls of the current financial system. Basically, they make such claim because of ignorance. Guess who mostly think that cryptocurrencies are needed? People who have been in a country that had a economic crisis (e.g. Venezuela). Some or most people in powerhouse countries like China are just living comfortably not knowing what's happening in the 3rd world countries around them. Unfortunately, probably the only way of them knowing the importance of cryptocurrencies is when they experience a economic crisis themselves.

[VitKoyn]

In a report earlier this week, it was gathered that a recent survey conducted in China brought a result of 66% saying there's no need for Bitcoin  and other cryptocurencies. Do you consider this a FUD or it's the actual representation of their thoughts?

I don't think that this survey is real unless you will give the source of this report. And even if this survey is real, I will still don't trust it because how sure are we that those people who took those surveys have basic understanding on what and how Bitcoin and other cryptocurrency works? If you don't understand cryptocurrency then you can't just say that there's no need for it. Btw I don't consider it as FUD since it can't bring fear, uncertainty and doubt to crypto investors. It is just a random numbers without source.

[Blocktopian88]

In my opinion, the reason why Chinese people say cryptocurrencies are not necessary is that cryptocurrencies' propoganda is not enough, they don't have too many ideas about this. Otherwise, mobile payment is very very convinient in China, if cryptocurrency and mobile payment are both E-pay, if I don't understand what is cryptocurrency and its usage, why do I need it? This may be the most people's thought.

[Blocktopian88]

In a report earlier this week, it was gathered that a recent survey conducted in China brought a result of 66% saying there's no need for Bitcoin  and other cryptocurencies. Do you consider this a FUD or it's the actual representation of their thoughts?

I don't think that this survey is real unless you will give the source of this report. And even if this survey is real, I will still don't trust it because how sure are we that those people who took those surveys have basic understanding on what and how Bitcoin and other cryptocurrency works? If you don't understand cryptocurrency then you can't just say that there's no need for it. Btw I don't consider it as FUD since it can't bring fear, uncertainty and doubt to crypto investors. It is just a random numbers without source.

Agree with you.

[Kakmakr]

This only means 66% of people in China are afraid of their own government or they do not know what financial freedom means. Yes, I know the Chinese people are very disciplined and most of them do not challenge their own government, but it is not a true reflection of their opinion, if people are making decisions that are based on fear.

Ask the same question to people in the western world and you will get a different response. <A lot of people do not care, because their financial freedom has not been challenged yet.> 

[Lucius]

For those who seek the source of this news :

https://www.ccn.com/63-of-chinese-respondents-think-bitcoin-and-cryptocurrencies-are-unnecessary/
http://panews.io/index.php?page=content_news&id=1115

The survey was conducted on 4200 people in China (population 1,4 billion), this is very low number of people so that we could make some serious conclusions on this subject. In China there is a communist party in power, and most people do not express their opinions freely. We all know that China's official attitude toward BTC is not good, so it is realistic to expect that most people share the opinion of their government.

[npiappes]

In today's generation where a lot of people are not open to bitcoin and cryptocurrencies, I also think that they will think it's not important and we can just live without it.

[shamc]

Chinese is a difficult language so it was probably lost in translation. Bitcoin is needed to solve the problems of a controlled economy, as most of them use a VPN for internet access they know the problem centralised control can bring

[CryptoToxicAvenger]

When publishing such news, you should always provide a link to the source. Otherwise, we can not objectively assess the situation because we are not sure of their reliability. As such, this news makes no sense.

[miropp]

I thought the Chinese were positive about bitcoin. It seems to me that the results of the survey are incorrect. Moreover, you have not provided a link to the source of the news. Perhaps this is some kind of unreliable source, which should not be believed.