Chinese City Warns Investors: Crypto Isn’t Blockchain

[Bitbtc8]

Crypto isn't blockchain but its the entire brain of blockchain, i get, China should be warning its people about illegal crypto projects not the entire cryptocurrencies, bitmain is from China which is one of the larger asic miner builders

[KingScorpio]

Weihai, a port city in Shandong province of eastern China, has a stern warning for investors: make sure you are really investing in blockchain innovation and not cryptocurrency masquerading as blockchain.

The Weihai Local Financial Supervision and Administration said Friday investors should be more cautious because illegal crypto issuance and trading are on the rise, according to a statement from the authority.

https://www.coindesk.com/chinese-city-warns-investors-crypto-isnt-blockchain

chinese communist party want to hold as much power as possible, we are entering a worldwide conflict it is similar with crypto and its inability to be egalitarian, those people controlling cryptocurrency media and cryptocurrency indexation defacto, dictate peoples life.

finance is always full of zero sum conflicts, arguments are useless, china might turn either nazi, or something else to maintain their power and financial sovereignty

[TheClownSong]

Weihai, a port city in Shandong province of eastern China, has a stern warning for investors: make sure you are really investing in blockchain innovation and not cryptocurrency masquerading as blockchain.

The Weihai Local Financial Supervision and Administration said Friday investors should be more cautious because illegal crypto issuance and trading are on the rise, according to a statement from the authority.

https://www.coindesk.com/chinese-city-warns-investors-crypto-isnt-blockchain

I think indeed the blockchain and cryptocurrency are different entities. Blockchain is a technology used by the developer team to make cryptocurrency so I think blockchain can be used for anything, including business. Many industries have begun to look at blockchain technology for efficiency and I think this will affect people's views of cryptocurrency to be positive

[memed97]

Crypto isn't blockchain but its the entire brain of blockchain, i get, China should be warning its people about illegal crypto projects not the entire cryptocurrencies, bitmain is from China which is one of the larger asic miner builders

China does not give a warning to the blockchain, they only give warnings to some cryptocurrency that are invalid and unfit for us to follow, so it is certainly very good for everyone, because with such a warning we can be more careful in following cryptocurrency .

[target]

Not really sure the difference because we call it crypto because its using blockchain just like the ethereum tokens uses eth chain. If they meant tokens that doesn't have its own blockchain then that must be something easy to understand but there are still lots of scams with coins that has its own blockchain.

My tiny brain can't distinguish the difference the fact that they also supported EOS, ETH, TRX which projects are using its blockchain. They are forcing people to be racist.

[BChydro]

Weihai, a port city in Shandong province of eastern China, has a stern warning for investors: make sure you are really investing in blockchain innovation and not cryptocurrency masquerading as blockchain.

So what they are basically telling to their citizens is to refrain from investing in crypto currency and invest in shitty projects and tokens  . I am not following the Chinese drama but are they coming up with blockchain projects and whether they are inviting investments. The government can warn their citizens about fake projects and investments but do they listen to these call when it comes to bitcoin  .

[Soots]

Weihai, a port city in Shandong province of eastern China, has a stern warning for investors: make sure you are really investing in blockchain innovation and not cryptocurrency masquerading as blockchain.

The Weihai Local Financial Supervision and Administration said Friday investors should be more cautious because illegal crypto issuance and trading are on the rise, according to a statement from the authority.

https://www.coindesk.com/chinese-city-warns-investors-crypto-isnt-blockchain

I think indeed the blockchain and cryptocurrency are different entities. Blockchain is a technology used by the developer team to make cryptocurrency so I think blockchain can be used for anything, including business. Many industries have begun to look at blockchain technology for efficiency and I think this will affect people's views of cryptocurrency to be positive

Hopefully it will affect with positive response as well as it's outcome. Cryptocurrency is a broad and wide coverage for all people who has different views on finances. That why it's so important for the individuals to learn and grow more mature on cryptocurrency, in order to obtain a strong foundation for their assets.

[Ucy]

Weihai, a port city in Shandong province of eastern China, has a stern warning for investors: make sure you are really investing in blockchain innovation and not cryptocurrency masquerading as blockchain.

The Weihai Local Financial Supervision and Administration said Friday investors should be more cautious because illegal crypto issuance and trading are on the rise, according to a statement from the authority.

https://www.coindesk.com/chinese-city-warns-investors-crypto-isnt-blockchain

Interesting warning.
The government should probably warn people not to invest in centralized projects masquerading as Blockchain.

People should simply avoid projects that are under centralized control but not regulated by governments. True decentralized and solid crypto projects are safer.

[JeffBrad12]

Crypto isn't blockchain but its the entire brain of blockchain, i get, China should be warning its people about illegal crypto projects not the entire cryptocurrencies, bitmain is from China which is one of the larger asic miner builders

Blockchain is the brain of crypto and crypto is just merely a product, anyone could do whatever they want to the blockchain system whether modifying it entirely to create a new product and that's not wrong. But i really know that china government will impose this kind of warning considering how much pyramid scheme disguising as crypto trying to do harm and make a negative perception. but, this kind of ambigous warning could misled people into thinking negative of legit cryptos.

[TRONTON]

they always do it by calling "illegal cryptocurrency", but I don't read news about anything that is legal, this kind of thing will only increase curiosity because everything related to decentralization will always be clearly seen when searched on the internet.

the last thing I read was that they exposed the illegal ico case in China which has a server in Malaysia. A strong warning will not have a significant impact on investors, they must start publishing something legal in addition to the stable coins that the government will launch.

[StephenieDuong]

These news really bad for crypto curency because of China gorvernment seem not allow crypto, they just love to own blockchain tech. But i think we dont need to worry about this, China had use laws to ban bitcoin, crypto many time, so with this news i think crypto will grow stronger and stronger. 

[Mike Mayor]

They basically just warning people (in a lot more wasteful words) that the blockchain is different from an erc20 token and since anyone can make erc20 token since the infrastructure is already there is easier to scam.
You can create your own blockchain but it is a lot harder to do and requires an investment. This eliminates a certain amount of the scammers since many scammers make erc20 tokens and don't have to invest anything other than the time they spend lying to their potential investors.

[FairUser]

These news really bad for crypto curency because of China gorvernment seem not allow crypto, they just love to own blockchain tech. But i think we dont need to worry about this, China had use laws to ban bitcoin, crypto many time, so with this news i think crypto will grow stronger and stronger. 

Every time China issues a ban, BTC and this market will increase strongly. I still remember 2017 China issued a ban on cryptocurrencies, shortly after a few months the price of BTC rose to 20k USD. At this point, China no longer banned cryptocurrencies, they gave positive news and caused the market to go down severely. I hope they can ban it again to the market could go up like 2017

[beerlover]

They are 100% right, there are so many tokens nowadays that everyone invests with the hopes of making thousands of dollars in profit (and remember in china even 100 dollar profit is a lot) so gullible people invest in everything they can find with the hopes of one of them eventually might become something big.

Unfortunately, there are not that many coins that could give you that type of return, I have been involved with few very profitable ones for example but probably invested into hundreds of bad ones as well, did I made a profit? Barely or maybe not but I know that those few diamonds are very hard to find and people should focus on finding those diamonds and not invest on everything. There are many tokens/coins that owners create just to get the funds and leave.

[romero121]

These news really bad for crypto curency because of China gorvernment seem not allow crypto, they just love to own blockchain tech. But i think we dont need to worry about this, China had use laws to ban bitcoin, crypto many time, so with this news i think crypto will grow stronger and stronger. 

Every time China issues a ban, BTC and this market will increase strongly. I still remember 2017 China issued a ban on cryptocurrencies, shortly after a few months the price of BTC rose to 20k USD. At this point, China no longer banned cryptocurrencies, they gave positive news and caused the market to go down severely. I hope they can ban it again to the market could go up like 2017

I believe this is not the reality of the market. Over the past whenever there is positive news from any country there is some growth. The same has happened with China whenever some positive news rolls out and market used to crash on negative factors. Once Japan showed high level of support to cryptocurrency usage, by that time mass adoption happened. This got reflected on the market variation taking the price reach much high.

[mrdeposit]

I think they have a right to do that. Because we cannot properly evaluate the freedom that crypto gives us, that is why we lose something in every wrong step. Since the Chinese government says it supports the blockchain, it does not want its citizens to face crypto games. This is a demonstration of how much the state cares about the people.

[Silberman]

I think this is strange, the fact that blockchain stands for crypto itself, and there says Crypto is not from the blockchain part. Or indeed there boasted not to invest in crypto because anti or there is a want to be people there invest in the currency made by their own country.

It is not strange at all, the blockchain is just one of the many innovations that satoshi created that made cryptocurrencies possible, it is very clear what the Chinese government is saying, they are saying that they are interested in investing and creating projects that use the blockchain but they are not interested in cryptocurrencies, which is nothing new really and nothing to be surprised about it because the Chinese government is never going to support a currency that they cannot control.

[vintages]

Though this information is not a new one but I just have to agree with China on this on. Most people are fond of mistaking cryptocurrency with blockchain technology most especially Bitcoin.
I guess the reason is because Bitcoin put the blockchain technology to the spot light. I think every investors should take their time and study this technology before investing in any digital currency.

[Coroline]

China reminds investors that be careful in investing in a crypto that does not have a permit that will make people lose money and China does not agree with the ICO which is emerging at this time

[tenakha]

I think this is strange, the fact that blockchain stands for crypto itself, and there says Crypto is not from the blockchain part. Or indeed there boasted not to invest in crypto because anti or there is a want to be people there invest in the currency made by their own country.

The government warns its citizens beforehand, predicting that there may be those who misunderstand what they say. Indeed, the government maintains its own image. On the other hand, we know how ugly the crypto space can become, wherever we look scammers and pump-dump schemes. And in a way this means that the government also protects its citizens, either directly or indirectly.