WeChat and Crypto

[kamBlanV]

when many large industries accept crypto, such as Facebook, Twitter, Samaung, Whatsapp.  but other applications like WeChat choose to ban users from crypto trading.  I see WeChat's decision will have a negative impact on the value of their quantity.  because the world today is very enthusiastic about the crypto world.you can see this source https://www.coindesk.com/messaging-giant-wechat-bans-merchant-users-from-crypto-trading

[1714180081]

1714180081

[1714180081]

1714180081

[1714180081]

1714180081

[pooya87]

messaging-giant-wechat-bans-merchant-users-from-crypto-trading

merchants who were accepting bitcoin must be introduced to the decentralized marketplace since they are already using a decentralized currency there is no reason to still continue to use centralized platforms anymore.
there already are good projects such as OpenBazaar (https://openbazaar.org/) available for their ease of use too.

[CryptoBry]

when many large industries accept crypto, such as Facebook, Twitter, Samaung, Whatsapp.  but other applications like WeChat choose to ban users from crypto trading.  I see WeChat's decision will have a negative impact on the value of their quantity.  because the world today is very enthusiastic about the crypto world.you can see this source https://www.coindesk.com/messaging-giant-wechat-bans-merchant-users-from-crypto-trading.

WeChat is politically an extension of the Chinese government and because of that reality it has no choice but to bow down to the wishes of the government for it to shun cryptocurrency of any form and type. This is an exercise of the governmental power and influence over all business within the boundary and even beyond of China. Will this affect WeChat user base? The way I see it is not affecting since their users are mostly in agreement with the government and for now any opposition is silenced for good. In addition, this can never affect the cryptocurrency market in general as we are all moving away from the China factor since 2017.

[kakonhat]

I think it's not a big fact. Once a day facebook banned crypto related add but now what are they doing. You can see already, everyone can see that. so relax, just wait and see.

[Ailmand]

Well, it seems that China is starting to move-away from crypto. There is nothing new about this we have seen China come-in and out of crypto for several times now. It's normal for wechat to ban crypto since wechat is operated in China, and the government is against crypto. Nonetheless, the market will not be affected by it, there are still a lot of social-media and messaging app crypto enthusiasts can use.

[Kakmakr]

I often think about large messengering services incorporating Crypto currencies into their products and with the latest Whatsapp hack, I think it might be risky to expose Bitcoin to millions of people, if the 3rd party service gets hacked.

Satoshi's vision was not for people to use centralized services to act as a intermediary service for Bitcoin payments, so every time these services fail, Bitcoin gets the negative publicity. <Now, just imagine what will happen if one App like this gets hacked, after they added Bitcoin payments via their service.>  

[niisarearning]

when many large industries accept crypto, such as Facebook, Twitter, Samaung, Whatsapp.  but other applications like WeChat choose to ban users from crypto trading.  I see WeChat's decision will have a negative impact on the value of their quantity.  because the world today is very enthusiastic about the crypto world.you can see this source https://www.coindesk.com/messaging-giant-wechat-bans-merchant-users-from-crypto-trading

Wechat implemented crypto payment initially but they are cancelling because of fear of getting ban from china . We chat is one of the major platform in China even most of the payment goes through wechat in china . They are afraid about their government.

[Haunebu]

Well, it seems that China is starting to move-away from crypto. There is nothing new about this we have seen China come-in and out of crypto for several times now. It's normal for wechat to ban crypto since wechat is operated in China, and the government is against crypto. Nonetheless, the market will not be affected by it, there are still a lot of social-media and messaging app crypto enthusiasts can use.

The Chinese government are clearly unable to make up their minds regarding regulating or banning crypto and they keep switching their opinions with time. Absolutely pathetic if you ask me.

They are clearly afraid that BTC could pose a problem to their centralized power structure and they impose their harsh rules towards apps like Wechat etc.

[Duzter]

Wechat is one among the most used social networking app. It has got a big userbase and fearing regulatory compliance it could have stopped the usage of cryptocurrency. This is not gonna make any negative impact upon the growth of bitcoin. Just think of kik which has got its own token named kin.

[Crypto Girl]

I see WeChat's decision will have a negative impact on the value of their quantity.  because the world today is very enthusiastic about the crypto world.

Perhaps it won't as WeChat is widely use in China since Facebook and other messaging apps are banned so it's either stay the same way.
And besides crypto specifically bitcoin will still viable even without this news nor hype from reputed companies.

Seriously, no worries.

[scoobydo70]

It always amazed me how double the standard is. For example, China is the largest mining center for Bitcoin, but at the same time they want to prohibit the use of cryptocurrency via Wechat. Isn't that weird?

[MonsterV]

when many large industries accept crypto, such as Facebook, Twitter, Samaung, Whatsapp.  but other applications like WeChat choose to ban users from crypto trading.  I see WeChat's decision will have a negative impact on the value of their quantity.  because the world today is very enthusiastic about the crypto world.you can see this source https://www.coindesk.com/messaging-giant-wechat-bans-merchant-users-from-crypto-trading.

WeChat is politically an extension of the Chinese government and because of that reality it has no choice but to bow down to the wishes of the government for it to shun cryptocurrency of any form and type. This is an exercise of the governmental power and influence over all business within the boundary and even beyond of China. Will this affect WeChat user base? The way I see it is not affecting since their users are mostly in agreement with the government and for now any opposition is silenced for good. In addition, this can never affect the cryptocurrency market in general as we are all moving away from the China factor since 2017.

right, Wechat is a company developed in China where China itself bans its people using bitcoin. So don't be surprised if this platform prohibits users from using crypto. But this will be a time bomb for Wechat itself, when all its users use crypto in the future.

[brawnb]

It always amazed me how double the standard is. For example, China is the largest mining center for Bitcoin, but at the same time they want to prohibit the use of cryptocurrency via Wechat. Isn't that weird?

This is all due to the combination of traditional views on life and the desire to be ahead of other countries in modern technology. I don’t know how their restrictions actually work, but there is a chance that more users from there will start using other social networks, telegram maybe, and not just Wechat, which is still the most popular there.

[Shova]

when many large industries accept crypto, such as Facebook, Twitter, Samaung, Whatsapp.  but other applications like WeChat choose to ban users from crypto trading.  I see WeChat's decision will have a negative impact on the value of their quantity.  because the world today is very enthusiastic about the crypto world.you can see this source https://www.coindesk.com/messaging-giant-wechat-bans-merchant-users-from-crypto-trading

Though Facebook, Twitter are working for their own coins, they are still aggressively blocking other crypto tradings.
We chat, being a Chinese company is more aggressive when it comes to watching over and censoring it's users.

[jak3]

Yes, that's surely going to be a negative impact on their reputation. Not just WeChat even WhatsApp and Facebook made the same decision maybe they just follow their Footpath. It's quite possible that we do not want any kind of debate on controversial topics to be added to the platform. Let us see if they change their decision in the upcoming future or else they are going to miss a lot of opportunities for the platform to develop. You can simply just open anything related to cryptocurrency and make money out there.

[loznapratak]

It always amazed me how double the standard is. For example, China is the largest mining center for Bitcoin, but at the same time they want to prohibit the use of cryptocurrency via Wechat. Isn't that weird?

This is all due to the combination of traditional views on life and the desire to be ahead of other countries in modern technology. I don’t know how their restrictions actually work, but there is a chance that more users from there will start using other social networks, telegram maybe, and not just Wechat, which is still the most popular there.

Now there is already a whole social network taklimakan for those who are interested in cryptocurrency and trade. Maybe a little while about it’s been heard, but as an option, go immediately to communicate there with people from anywhere in the world. It is very strange to limit people when there is a tendency towards globalization and tokenisation of society.

[scoobydo70]

It always amazed me how double the standard is. For example, China is the largest mining center for Bitcoin, but at the same time they want to prohibit the use of cryptocurrency via Wechat. Isn't that weird?

This is all due to the combination of traditional views on life and the desire to be ahead of other countries in modern technology. I don’t know how their restrictions actually work, but there is a chance that more users from there will start using other social networks, telegram maybe, and not just Wechat, which is still the most popular there.

Now there is already a whole social network taklimakan for those who are interested in cryptocurrency and trade. Maybe a little while about it’s been heard, but as an option, go immediately to communicate there with people from anywhere in the world. It is very strange to limit people when there is a tendency towards globalization and tokenisation of society.

So far, not all countries are ready to admit the obvious things that blockchain technology will be everywhere. Sometimes it is from a lack of understanding of processes, sometimes from a desire to control everything. But for me, cryptocurrency is a way to make people equal

[loznapratak]

It always amazed me how double the standard is. For example, China is the largest mining center for Bitcoin, but at the same time they want to prohibit the use of cryptocurrency via Wechat. Isn't that weird?

This is all due to the combination of traditional views on life and the desire to be ahead of other countries in modern technology. I don’t know how their restrictions actually work, but there is a chance that more users from there will start using other social networks, telegram maybe, and not just Wechat, which is still the most popular there.

Now there is already a whole social network taklimakan for those who are interested in cryptocurrency and trade. Maybe a little while about it’s been heard, but as an option, go immediately to communicate there with people from anywhere in the world. It is very strange to limit people when there is a tendency towards globalization and tokenisation of society.

So far, not all countries are ready to admit the obvious things that blockchain technology will be everywhere. Sometimes it is from a lack of understanding of processes, sometimes from a desire to control everything. But for me, cryptocurrency is a way to make people equal

Even the leading universities in Britain and Canada open courses on blockchain technology training. And here people are blocked from communicating and engaging in such an interesting business as trading. Not too nice.

[traderethereum]

The biggest user in WeChat is people from Chinese, so if WeChat were banning the users from cryptocurrency, they would lose benefits that their people can get.
They need to realize what impact the banning action on the cryptocurrency to themselves so they can consider canceling the banning itself.
And if that really happens, then I still sure there are many other countries which could give their supports to cryptocurrency because they were accepting cryptocurrency for their people.
And maybe for the Chinese country, that will be a downside for them as they cannot get the benefits from the cryptocurrency and people will lose the opportunity to get a better life.

[waynechong1995]

I believe under China policy assets and monetary transactions through online is embraced, due to ease of data collection that's why WeChat is so good with their wallets and stuff. But crypto is another realm as they can be transacted cross border easily users somehow trade through WeChat wallets to buy/sell bitcoins but mask through something at least