Blockchain is not Bitcoin

[kro55]

yeep, china is only welcome on the blockchain. but remains controversial with decentralized cryptocurrencies. because bitcoin and friends can't be controlled. so China considers it illegal.
Bitcoin technology (blockchain) is indeed needed, so the Chinese government is planning to make their currency using the blockchain, and this is one way to block bitcoin and make changes to their transaction systems.

Chinese are very smart in controlling outflow of currency n info from their country. They have banned Google, Facebook and other tech giants from operating in there country. How can they allow BTC to operate freely in there country?

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[whotheff]

yeep, china is only welcome on the blockchain. but remains controversial with decentralized cryptocurrencies. because bitcoin and friends can't be controlled. so China considers it illegal.
Bitcoin technology (blockchain) is indeed needed, so the Chinese government is planning to make their currency using the blockchain, and this is one way to block bitcoin and make changes to their transaction systems.

I disagree. China is the N1 maker of mining equipment, China is in the top 3 BTC mining countries, China has areas with very cheap electricity.
All this means they get USD when selling the mining gear, (as the people got rich during the Gold Rush by selling shovels, not by digging themselves). But on top of that they also are one of the top miners (e.g. BTC holders). Binance is Chinese. From all this I can conclude that crypto is a huge income for China.

And when something gives the government a huge income, but at the same time it gives financial freedom to your citizens, you can:

1. Put taxes on anything BTC related
2. Try to copy the technology and implement it yourself
3. Monitor and control as much as possible any huge BTC movements and track China BTC Richlist
4. you add here
5. you add here

[Astvile]

Never believe a government, they are control freaks and often lie. Whatever China said in the past about Blockchain was to create a platform for its own stable coin. That being said supporting Blockchain does not mean favouring Bitcoin.

This is what makes other people confuse. They are connecting bitcoin and blockchain as one. Yes, bitcoin will not work without blockchain but it's 2 different products of technology. One is a coin and one is a system.

[AicecreaME]

The Government never failed to make me laugh, they are complaining to a thing that they are the reason why it is illegal, even the truth is it is not illegal. Blockchain and cryptocurrencies especially bitcoin is a decentralized one, meaning that it doesn't need such regulations or control (which they wanted). We've been issuing couple of Bitcoin ETF but he SEC always rejected it for their pitiful selfish reason, so they should have blame SEC instead of cryptocurrencies if it is annoys them.

[ttcsalam]

China believes it is technologically advanced, but it has nothing to do with cryptocurrencies and the Blockchain . So this information cannot be trusted.

[bitvalak]

So now Chinese government has said exactly what i was anticipating which is Blockchain is not just Bitcoin or crypto.
An article has been published in newsbtc.com, the announcement said that the sale of tokens for Bitcoin, Ethereum, and other virtual currencies remains “essentially unauthorized illegal public financing, suspected of illegal sale of tokens, illegal issuance of securities and illegal fund-raising.” The PBoC’s Shanghai branch then added that crimes enabled via cryptocurrencies have “seriously disrupted the economic and financial disorder.”

Source: https://www.newsbtc.com/2019/11/22/china-confirms-blockchain-not-bitcoin-pboc-crypto/

Essentially they will adopt a blockchain to centralize their own coins.
Which can make people avoid bitcoin and the like and then switch to using their coins.
And that must be indirectly forcing people to use their coins.

[Gotumoot]

Bitcoin still has a blockchain connection and in the first place you can think of bitcoin immediately. As far as I know, bitcoin is the first adopter of the blockchain, so we can't unlink the two. But it's right that we open our eyes that blockchain is not just for bitcoin.

[maianh09]

yeep, china is only welcome on the blockchain. but remains controversial with decentralized cryptocurrencies. because bitcoin and friends can't be controlled. so China considers it illegal.
Bitcoin technology (blockchain) is indeed needed, so the Chinese government is planning to make their currency using the blockchain, and this is one way to block bitcoin and make changes to their transaction systems.

Chinese are very smart in controlling outflow of currency n info from their country. They have banned Google, Facebook and other tech giants from operating in there country. How can they allow BTC to operate freely in there country?

They already have technology companies and their achievements are no less than large businesses like Facebook and google. They will continue to create a miniature world in their country. Look closely, they have created works that look like the wonders of the world like the EFFEL-like tower model, the statue of the American goddess, other castle buildings.
They will create their own bitcoins and their government will find ways not to let the money flow out of their country.

[Ridwan Fauzi]

I always see bitcoin and blockchain is a package that cannot be separated. An example, someone who intend to know bitcoin they will automatically know or get understanding about blockchain in an easy way.

So, when the Chinese's government decided to use blockchain to their industries even they are constrain to use blockchain technology as its main system I just have an imagine that they will exactly legalized bitcoin or crypto as a whole, which mean I was predicting that bitcoin will increase at that time.

However, this is crypto industri which cannot be easy to predict it. The government have their own right/their own perspective regarding it. And made a supplementary news that they still including bitcoin as an illegal transaction. So at this time, I just worrying that for those countries who still consider the utilization of crypto and they will take a decision such as Chinese who just use blockchain but they will ban cryptocurrencies.

[robelneo]

So now Chinese government has said exactly what i was anticipating which is Blockchain is not just Bitcoin or crypto.
An article has been published in newsbtc.com, the announcement said that the sale of tokens for Bitcoin, Ethereum, and other virtual currencies remains “essentially unauthorized illegal public financing, suspected of illegal sale of tokens, illegal issuance of securities and illegal fund-raising.” The PBoC’s Shanghai branch then added that crimes enabled via cryptocurrencies have “seriously disrupted the economic and financial disorder.”

Source: https://www.newsbtc.com/2019/11/22/china-confirms-blockchain-not-bitcoin-pboc-crypto/

So they have confirmed what we have been fearing, that they still don't want Bitcoin and they only want the technology behind it, they cannot control Bitcoin and they want something on their own that they can control, but can they stop their people from not patronizing Bitcoin while patronizing their own, this is something interesting in the future, once they launched their coin, we'll then see if they can really stop their people, because they are now part of the circle, they are introducing blockchain to all their people, it's another promotion for Bitcoin.

[Oneandpure]

Blockchain without bitcoin is nothing, many people only know whit bitcoin and less information when discuss about blockchain technology want to adopt with many companies, people only think with bitcoin as investment way to get much profit without care what is blockchain and how to get benefit using blockchain later, people just increase their money with bitcoin and altcoin investment.

[danggoron]

Blockchain without bitcoin is nothing, many people only know whit bitcoin and less information when discuss about blockchain technology want to adopt with many companies, people only think with bitcoin as investment way to get much profit without care what is blockchain and how to get benefit using blockchain later, people just increase their money with bitcoin and altcoin investment.

Blockchain and bitcoin do influence each other. The difference, bitcoin as one of the "products" of the blockchain has not been widely accepted because of the many controversies, one of which is anonymous, there is no official administrator, so it is likely to be misused for illegal activities, while blockchain can be widely accepted because it can be used to increase various activities, so conventional systems can be upgraded more modern. So, it's just a matter of use, people who are interested in using bitcoin as an investment and commodity will definitely use it more, while blockchain is more attractive to governments and other organizations to improve their network utilities.

[bounceback]

Blockchain without bitcoin is nothing, many people only know whit bitcoin and less information when discuss about blockchain technology want to adopt with many companies, people only think with bitcoin as investment way to get much profit without care what is blockchain and how to get benefit using blockchain later, people just increase their money with bitcoin and altcoin investment.

can you accept your bitcoin without a blockchain, of course not, bitcoin is a digital currency that runs on the blockchain network without requiring shipping from its maker because of the decentralized nature of the blockchain and now of course blockchai technology is very popular among large companies that already want to partner with technology to advance their project because now some people prefer blockchain technology that is fully decentralized.

[Reid]

It is a Communist government.
That means it is all about the money.
The financial claim of everyone who lives in China should be transparent. They need to see it all.
Because of bitcoin and other crypto currencies they cannot trace those, which they dislilke.

They want control, they need money flowing in for their government to move.
No worries, you give them a lot of money and then they will give you one television spot. 

[Darooghe]

I think China was once one of the more strict countries when it came to cryptocurrencies, but it appears that they are now moving to a somewhat more friendly approach to it. Because they know by getting their people educated about Blockchain, they can and will lead the world into the next century, and If US loses the USD reserve status and PBOC believes bitcoin replaces, then they're very well positioned given bitcoin mining pools and ASIC production. the crypto Ban is only temporary giving the Chinese bank time to regulate. Cryptocurrency isn't some back alley invention. It was created to change lives and to do that the super powers of the world will attempt to regulate and control it.

[ReiMomo]

Blockchain without bitcoin is nothing, many people only know whit bitcoin and less information when discuss about blockchain technology want to adopt with many companies, people only think with bitcoin as investment way to get much profit without care what is blockchain and how to get benefit using blockchain later, people just increase their money with bitcoin and altcoin investment.

can you accept your bitcoin without a blockchain, of course not, bitcoin is a digital currency that runs on the blockchain network without requiring shipping from its maker because of the decentralized nature of the blockchain and now of course blockchai technology is very popular among large companies that already want to partner with technology to advance their project because now some people prefer blockchain technology that is fully decentralized.

Of course, you can't accept your bitcoin without blockchain but they can still use blockchain without Bitcoin and through their own coins they can use blockchain without Bitcoin. That's the reason why bitcoin was not fully adopted in China besides they still banning this currency due to they are gainst on it. They are thinking that might someday Bitcoin is one of their big competitors.

[Asmonist]

As what I understand, blockchain is the source that we can operate bitcoin and other currencies. So definitely, both are not the same but they are related. Blockchain is the technology and bitcoin is the product. Some just make it confusing for others maybe because they have other goals and purposes to pursue something like bitcoin. Indeed, the world is a big competition where everyone create and innovate products and services. Bitcoin so far is still the most amazing cryptocurrency.

[Aying]

Blockchain without bitcoin is nothing, many people only know whit bitcoin and less information when discuss about blockchain technology want to adopt with many companies, people only think with bitcoin as investment way to get much profit without care what is blockchain and how to get benefit using blockchain later, people just increase their money with bitcoin and altcoin investment.

Blockchain popularity will never be accomplish without bitcoin. a lot of users knows blockchain because of bitcoin and your right @Oneandpure for that insight. the useful of blockchain is base of how they use bitcoin and how both side are useful for them so in time will come we can expect that blockchain is a totally a useless if bitcoin is unprofitable.

[espressodoppio]

Security features on blockchain are also important. For example, PayPal is only a secure software technology for currency transfer but it does not mint or mine any currency (fiat or virtual). In the same way, blockchain uses security measures to transfer both currency and information securely. However, if hackers want to attack the blockchain then it would be nearly impossible to do without any detection because the blockchain is one giant ledger. Change one digit or letter and it shows. If an organization holds its secure information in a database or cloud based service, there is some possibility of a hack without any detection for months or even years. See recent examples of Yahoo and Marriott. One took place years ago while the other happened only a few months prior.

Blockchain can also transfer information and not every transaction has to be the "value added" type. I recently attended an AMA that explored other applications of blockchain including use of decentralized apps (or dapps) for businesses to send and receive private information. In my country, healthcare information is held to high privacy and confidentiality standards that even some SaaS cannot meet. Tokenization of said information on the blockchain could solve this problem. The startups at the AMA did not go into details. However we can store regular purchases of needed medications in the blockchain then there are some uses for people who need regular heart or diabetes medications. Sure there are payments involved for the medication from insurance companies but what about the patient's information? Blockchain can also store and transfer this information. After all, blockchain is one giant ledger...

[Colt81]

So now Chinese government has said exactly what i was anticipating which is Blockchain is not just Bitcoin or crypto.
An article has been published in newsbtc.com, the announcement said that the sale of tokens for Bitcoin, Ethereum, and other virtual currencies remains “essentially unauthorized illegal public financing, suspected of illegal sale of tokens, illegal issuance of securities and illegal fund-raising.” The PBoC’s Shanghai branch then added that crimes enabled via cryptocurrencies have “seriously disrupted the economic and financial disorder.”

Source: https://www.newsbtc.com/2019/11/22/china-confirms-blockchain-not-bitcoin-pboc-crypto/

Indeed. The Chinese government only regulates blockchain technology and cryptocurrencies such as bitcoin, ethereum and so on are still illegal due to scam escalation, that is why China is also starting to create their own coin just like Libra coin which it will be centralized and it will be launch in the year of 2020.