Bitcoin and other cryptocurencies are not necessary says Chinese people

[plvbob0070]

China's population is no joke and they only conducted the survey to 4,200 people there. I don't think it's enough to conclude that cryptocurrencies are not necessary for them and to represent the whole Chinese population.
Also look at the brighter side, among those people they have asked, 98.22% of it knows bitcoin and/or cryptocurrencies. It's a good thing though, it just that they don't fully understand how it works.

[TheCoinGrabber]

Do you have a link of this article?

Anyway, wouldn't be surprised if they do feel this way. They can pretty much get by with digital yuan payments. People in the West might see a problem with that but the Chinese aren't exactly heavy on "liberty". They don't care much if the gov't is snooping on them all the time as ling as they're comfortable.

[Best Dreams]

since when are people listening to what Chinese (government) says? don't read the title wrong it is their government spreading propaganda against bitcoin ever since the adoption of bitcoin grew too much and out of their hands in their country they wanted to suppress it as much as they could. you can see how they were backing centralized shitcoins over the past year while giving bitcoin low ranks among them! that is because they are scared of bitcoin and decentralization.

Yeah it is all fake news and we should not listen to them as they are only making fraud and try ting to demotivate us for investing in crypto currency most of time whales use to spread this kind of news, so I am not going to trust them I am just holding my coin and it is very important for my country to for economical development that’s why people of my country don’t trust such news,.

[tunapa]

It will be good to know the details of such report and how it was conducted. Maybe it was conducted among older people who entirely won’t need to use any cryptocurrency. This also doesn’t mean it’s not or does not mean it’s bad. So I don’t see why this should cause any FUD. Moreso there is still 34% remaining that will probably consider using cryptocurrency of a good age range.

[crzy]

We have different opinions and beliefs and everyone is entitled to his/her own opinion. Cryptocurrencies in China is not yet widely known if you compare it to the other countries where regulations are not strict. Many surveys are also being paid by some group of people or organization to push their plans and these surveys taken from the opinions of the chinese people might have no difference.

We cannot force anyone to like cryptocurrency, this is not a FUD but its more on a fact for Chinese people/government. Yes, we are all entitled for any opinion but for me I still believe on cryptocurrency and in time China will adopt the system and use it for a better and a lot more faster transactions.

[Nolimitz84]

Can you imagine how much this survey would cost if 66% of Chinese people were actually interviewed?I think that it is not necessary to take seriously this news.I also don't think that 66% can know anything about cryptocurrencies.At the moment, not many people know about it.

[pixie85]

They don't need it? If they didn't there wouldn't be a ban in China. The facts are different than Chinese propaganda machine wants you to think. When wealthy businessmen found out about Bitcoin they begun to send money offshore. Chinese government restricts the flow of money because it wants the money to be spent on the local market.
Bitcoin is a global tool that allows you to send money anywhere in minutes and at a very low price. They don't want you to have this power.

[GymClassHeroes]

It is not FUD as it does not have a dorect bearing on thw market.Most person still do not understand how cryptos work, hence the kind of response you will get from them.It is also worth noting that China is  a place where cryptos are banned, that can create a psychological impact on how people view bitcoin.

[Godday]

it's just a Chinese estimate. but we don't know what other people on the market expect. because we believe not only in one country. but there are still many countries that have not submitted their opinions on the blockchain.

[Ayiranorea]

it's just a Chinese estimate. but we don't know what other people on the market expect. because we believe not only in one country. but there are still many countries that have not submitted their opinions on the blockchain.

Always Chinese people stand a way apart from the global community. This isn't a planned one, by nature they've been grown in such a way. Similar is the listing of top cryptocurrency in usage, it has provided a much controversial listing. This is just because they're different.

[Indrawan77]

First of all I don't believe the survey result, and there are a lot of people that still don't understand about bitcoin or crypto currencies, most of them. Only know the surface of the crypto and doesn't know the real usage, they don't know that using crypto as payment is really efficient and could give them freedom, Chinese people's maybe said that they don't need it but there are a lot of Chinese people mining crypto

[Artemis3]

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?

Coming from the country with the largest Bitcoin usage, perhaps simply because it has the largest population, makes this comment even more nonsensical. Perhaps the communist party doesn't like it, being socialists and all it goes against their dogma to give power to the people so they can choose for themselves... But as far as the economy is concerned, China has shown more pragmatism and less socialism, at least after Mao died.

Considering the amount of wealth Bitcoin has created, it would be stupid to stay out of the pie. But you know, socialism...

[CryptoBry]

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?

This can be a real study however we should understand that people in China are still under the heavy influence of the government and so opinions can be quite questionable. And we have to take into considerations that the study was conducted precisely to just back-up the conviction of the government that they don't need what cryptocurrency can offer because this is decentralized and something that is beyond their own control. There is no real democracy in China and the government and the people are both thriving under this climate well so in my opinion we should once and for all leave things at that and consider this market scratched out of the table (though the underground market is always present in there as the government has no enough resources to track each person living in the country and that counter-technologies can easily be utilized online).

[TheCoinGrabber]

Assuming the survey is even truthful, the current situation in China may explain this. Digital payment is big there, they can pay almost everything through apps. People find it convenient, the gov't find it extremely good they can track everything, everyone's "happy".

At least until you run afoul of the Party.

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.

LOL, I suddenly thought of this... "Speak freely".

https://youtu.be/kiGHHL5IYyY

[shesheboy]

They don't need it? If they didn't there wouldn't be a ban in China.

Yes they really dont need it thats why they already banned it  but i heard that  lately they are now unbanning it again  . confusing isnt it ?  Maybe not all chinese didnt like crypto because we know the fact that chinese people are mainly business mens . they are willing to risk in any investment including bitcoin just to earn a profit .

But overall ,  chinese people do have a point  .  crypto is not really necesary because people can still live freely and happily without it  .  we still have our own local currency .

[gentlemand]

The Chinese being in love with BTC was always a myth.

When it was widely available they only used it for gambling on their exchanges. Other than that it's mining only and I remember one of the few interviews I've seen with a Chinese miner saying that most of them do not understand anything about it, they only want more fiat immediately.

Bitcoin is better off without China's involvement on any level.

It's hard to convey how deeply they're in Wechat. It's everywhere and in everything. That's your one stop digital rogering. It looks like the Chinese are more than happy to walk into absolute control but there's no point trying to guess their mind set about it.

Yes they really dont need it thats why they already banned it  but i heard that  lately they are now unbanning it again  . confusing isnt it ?  Maybe not all chinese didnt like crypto because we know the fact that chinese people are mainly business mens . they are willing to risk in any investment including bitcoin .

It's never been banned. Not for a second. Centralised trading has been.

[Johnzky]

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?

What survey?Who conducted the survey?do you have some links about this?if not then this is a FUD because theres no supporting proof about this statement because this can only be You whos telling this lie but lets consider that is is true,then who cares about Chinese statements?they don’t represent the whole world and cryptocurrency can grow and progress even without them believing this

[awawo]

The is a FUd because the entire world need a global currency which will link the whole world as the world is now a global village which need currencies that will not be border restricted. Even as I don't believe the news because China is one of the highest supporter of cryptocurrency and you post does not have a link to verify the news.

[palle11]

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 see the above as FUD but a representation of an opinion but I can't confirm if the opinion is of the general citizen of China because no link is provided.

However, if they say it is not necessary, it could be because they are feeling disenchanted with it.

[Ararbermas]

That is a totally from fud which is a clear testimonials to give doubts on other ppl that staring crypto currency especially those holders. Well i suggest to ignore it because it's nonsense actually.   Which must believe whats the real future in cryptocurrency rather than making a nonsense discussion from fuds.