[2019-11-12] Bitcoin Presented as ‘First Successful Application of Blockchain’

[hv_]

Ooh, nice.

But SoV is not some electronic blockchain application?

 

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[1Referee]

Ooh, nice.

But SoV is not some electronic blockchain application?

 

It's not an application in and of itself. It's a property that Bitcoin gained throughout the years because people have confidence that in the long run, their purchasing power won't be taken away from them due to fiat inflation. Short term speaking prices can be very volatile of course, but long term speaking there is a strong trend of growth.

People often refer to Gold as the true store of value because it doesn't have gone down a lot, but they forget to zoom out and look at the $1900 peak it reached in 2011. It tanked to $1050 after that. Currently Gold hovers around $1470 which is still far away from its all time high, mainly so when you take into consideration how shit the global economy has to turn in order for Gold to get there.

[sikke]

However, the skeptical me is asking what is the government controlled news agency's agenda for reporting this? Why today? The Chinese authorities have always been against bitcoin.

Recognition doesn't mean acceptance, in my opinion.

They are likely trying to educate the public in terms of cryptocurrencies in general and not just specifically decentralised cryptocurrencies, in order to push their own potential future cryptocoin that is imminent to launch.

This is positive news, but not really anything other than that. It's likely to not have significant repercussions in the future.