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Author Topic: How does the adoption of China affects the crypto market and blockchain industry  (Read 170 times)
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November 04, 2019, 11:36:40 PM
 #21

I do not want to speculate. But given the large population of China, we can imagine if China really legalized cryptocurrency. Then of course it can be a good momentum for crypto residents around the world. We'll see what will happen.

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November 05, 2019, 02:13:06 AM
 #22

I do not want to speculate. But given the large population of China, we can imagine if China really legalized cryptocurrency. Then of course it can be a good momentum for crypto residents around the world. We'll see what will happen.

China is the 2nd Largest Economy next to US. They will gonna give a huge impact on crypto if ever they legalized it. It will become a ETF version 2.0 of US.

They already show what they can do in the previous years and also having a bad news about China always give negative impact on crypto so this a game changer

for all of us.


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November 05, 2019, 02:51:40 AM
 #23

yes I also heard that after the Chinese government supported blockchain technology they would also make their own crypto coins that were given the DCEP name. with the entry of China in the cryptocurrency market then I think the crypto market will be more crowded and growing. because China has a large population of 1.4 billion. as long as the Chinese government has a good crypto project I think it doesn't matter even if the project is under the communist party.

 
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November 05, 2019, 03:48:24 AM
 #24

yes I also heard that after the Chinese government supported blockchain technology they would also make their own crypto coins that were given the DCEP name. with the entry of China in the cryptocurrency market then I think the crypto market will be more crowded and growing. because China has a large population of 1.4 billion. as long as the Chinese government has a good crypto project I think it doesn't matter even if the project is under the communist party.

Although they will have their own blockchain and they didn't tell that they will support Bitcoin, still it will create confidence for Chinese people for the root of blockchain, and they will know that Bitcoin is the king of crypto and they will gain more confidence over it. Their having own blockchain, will still have impact as it will create more awareness to most people in China and imagine how many people residing in China if at least 5% of their country adopt crypto, it is still huge.

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November 05, 2019, 04:44:28 AM
 #25

I do not want to speculate. But given the large population of China, we can imagine if China really legalized cryptocurrency. Then of course it can be a good momentum for crypto residents around the world. We'll see what will happen.

China is the 2nd Largest Economy next to US. They will gonna give a huge impact on crypto if ever they legalized it. It will become a ETF version 2.0 of US.

They already show what they can do in the previous years and also having a bad news about China always give negative impact on crypto so this a game changer

for all of us.

But in a sense that US is not the biggest cryptocurrency adopters according to this article: https://bitcoinist.com/cryptocurrency-adoption-highest-5-countries/

Turkey, Brazil and Columbia impacts the crypto space community very well.

Regarding this, we cannot infer that if the country or economy of that country is good, it doesn't mean that they have the best contribution to the cryptocurrency space. But it will depend on the market adoption that a particular country has. If there are many people in a particular country that adopts crypto, we can say that they affects the crypto market in a directly proportional manner.

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November 07, 2019, 04:36:09 PM
 #26

You know people misconstrue things a lot, and when people hear blochain at times they interpret it for cryptocurrency alone, so what could have surge the value of bitcoin was those making investment out of the freedom of mind they got with the speech which unfortunately when we talk of blockchain, he might not be referring to cryptocurrency alone, although they have plan for their own cryptocurrency which I think that it is still part of the politics he has played for introduction already so that it would not be a strange thing to them when the time comes for them to release their coin to the public. He could have been encouraging them on a different level when it comes to blockchain which can be used to solve several challenges of the economy without having to even dive into cryptocurrency.

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November 07, 2019, 04:46:22 PM
 #27

Basically, if they will develop a blockchain project that is considerably decentralized, it doesn't matter if they are a communist country. People will still believe and support them as long as they are always updating and developing their technology. In terms of the adoption of China, the impact is massive especially to people who know how big China is. Their population is already an advertisement for others to adopt to cryptocurrency especially investors. As the mindset of most investors is like this: They will do their best to see what will happen in the future, so they will look at possibilities and Chinese involvement will set as an initiative for them to have a reason to invest in cryptocurrency.

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November 07, 2019, 05:12:42 PM
 #28

Basically, if they will develop a blockchain project that is considerably decentralized, it doesn't matter if they are a communist country. People will still believe and support them as long as they are always updating and developing their technology. In terms of the adoption of China, the impact is massive especially to people who know how big China is. Their population is already an advertisement for others to adopt to cryptocurrency especially investors. As the mindset of most investors is like this: They will do their best to see what will happen in the future, so they will look at possibilities and Chinese involvement will set as an initiative for them to have a reason to invest in cryptocurrency.
It's important to note that China is excited about Blockchain, not cryptocurrencies. It was not obvious from the initial president's statement whether they are distinguished by the government, but I remember reading a clarification later that it's about Blockchain, not about approving of these speculative cryptocurrencies we have nowadays (although I cannot find that article right now...). If that's the case, then China might use Blockchain for various purposes and perhaps even make their own crypto, but not boost the adoption of the actual cryptos like Bitcoin.

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November 07, 2019, 05:25:40 PM
 #29

It can affect a lot since China is a big country with many population. It means that when bitcoin is accepted in China, more people are able to adopt on it.
As per the president of China stated, they are positive towards blockchain which is good. It may cause more people to be aware of that technology. Countries might follow the adoption. And blockchain will be given a chance to be use in different factors not only for bitcoin.
Just like the previous scenario after the president tells his message towards blockchain, the value already rise, it means that China also gives an important role that can affect crypto market

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Fresh Dice||||||Dice Now!
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