Blockchain is not Bitcoin | Bitcointalksearch.org

mezzaluna

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Quote from: HammadAli on November 22, 2019, 06:59:36 AM

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/

The Subject is somehow misleading. It should be "Bitcoin is being tagged as Illegal". China is always scared of something that could overthrow their government in every way possible. They are scared of something that they cannot have control of because Blockchain Technology is still advancing and its security is one of its best feature.

rokon1234

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Quote from: pakhitheboss on November 22, 2019, 08:01:24 AM

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.

Day by day now government also realised that cryptocurrency how much important for future.that's why they are now try to study about cryptocurrency.so, i think we see in future more upgrade blockchain technology.

Adamini

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Currently, almost every country is studying blockchain technology, and some countries just do not recognize it on the surface. Bitcoin is only a special coin for blockchain technology support applications. Zhongben Cong has created bitcoin and blockchain. His original intention is to change the existing economic model, be transparent and open.All of these need to be hidden from the national government

Coinsfera

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Understanding the fundamental difference between blockchain and Bitcoin is important to fully grasp the cryptocurrency world. Blockchain and Bitcoin are the foundation of the financial technology industry in the cryptocurrency space. The main difference between blockchain and Bitcoin is that the blockchain is used to secure data and perform various other tasks. However, Bitcoin is a single cryptocurrency. It is the pioneering cryptocurrency that introduces blockchain concepts. Where there is blockchain technology, Bitcoin uses the same technology, namely blockchain for payment security.

ninabobo

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Blockchain is never Bitcoin however Bitcoin presented Blockchain innovation. In the event that Blockchain is a widespread set, bitcoin is only a subset of the all inclusive set. Blockchain has a ton of advantages thinking about what it very well may be utilized for separated from cryptographic money. Blockchain innovation can be utilized as a decentralized public record for the capacity of information and recovering of data in a cryptographic configuration.

robertjack

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Quote from: HammadAli on November 22, 2019, 06:59:36 AM

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/

A real-time, permanent database of transactions and ownership is often referred to as Blockchain. What does that mean, however? It is basically a secure, hard-to-hack record of transactions and who holds what.Think of a database stored in blocks of details. On individual computers, these blocks can be copied and repeated. These are all similar and coordinated with one another. it's basically called blockchain.

Bitcoin is an example of a cryptocurrency, a type of digital currency that can be exchanged over the Internet between individuals. There is no tangible form of these currencies and they just exist digitally. To guarantee the transfers are safe and to deter people from counterfeiting, a method called cryptography is used.

PonZZ

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At least the Chinese government takes blockchain technology seriously. It must be a good sign. But it seems so strange to me that the country with the largest number of Bitcoin miners are so skeptic towards the first crypto.

joomlawoman

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Of course, Bitcoin is just a part of it.

HEvangelista

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Definitely yes because bitcoin is a cryptocurrency, while blockchain is a distributed database that store information. Bitcoin uses blockchain technology.

Kakashibrullo

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China prefers blockchain because it is safe and helps solve many crimes related to theft (and you all know how hard it is to solve crimes in China). China wants to create its own currency based on the blockchain system, but to displace bitcoin.

OneLifeKiller070

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Blockchain and Bitcoin are pretty different thing. Simply put, Blockchain is the technology, Bitcoin is the product. That been said, 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. China is developing their own Cryptocurrency which seems to be the reason for backing Blockchain. The Chinese government was actually referring to Blockchain technology and not Bitcoin in particular. Bitcoin technology (blockchain) is indeed needed .

imstillthebest

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Quote from: nomenclatur on April 21, 2020, 09:30:38 PM

Like it or not bitcoin is part of blockchain it,

yes it is both fall under the category of cryptocurrency .

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bitcoin the first to use the network blockchain other countries see and adopt network blockchain China continues to make statements that do not make sense to drop bitcoin when they make the currency cryptocurrency China itself always make bitcoin visible bad and is not eligible to be purchased and is not eligible for trading on the china.

is that china is the supplier of mining equipments ? so if they allow these stuffs then why not make bitcoin/blockchain look bad but its normal , we cant stop them if they say something bad . they arent the one that does that to be honest but there are also many countries that does it .

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China must also recognize bitcoin as a digital currency and giving freedom to the people of china to buy bitcoin.

yes they are . i think the issue of china restricting bitcoin was over and only a thing of the past .

nomenclatur

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Like it or not bitcoin is part of blockchain it, bitcoin the first to use the network blockchain other countries see and adopt network blockchain China continues to make statements that do not make sense to drop bitcoin when they make the currency cryptocurrency China itself always make bitcoin visible bad and is not eligible to be purchased and is not eligible for trading on the china. China must also recognize bitcoin as a digital currency and giving freedom to the people of china to buy bitcoin.

hendra147

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In my country, bitcoin is just an asset not ancurrency, government reject it to be currency and its illegal activity to use bitcoin as payment processor
But government use technologi behind it, bockchain in some application, like tax payment use blockchain sistem called "online pajak" , one of bank in Indonesia use blockchain too by cooperation eith IBM

So blockchain and bitcoin is different, blockchain is technologi behind it, and bitcoin is peer to peer currency use blockchain technologi

Chrystora123

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Quote from: Gotumoot on November 23, 2019, 10:00:08 AM

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.

That's right.. without Bitcoin, Blockchain technology would not be known. both are different, Bitcoin will not work without blockchain technology, but Blockchain technology is capable of running without Bitcoin. in the future, I am very confident that governments in various countries will make use of Blockchain technology en masse, and will most likely turn their currencies (fiat) into cryptocurrencies (because they use Blockchain technology).

Youghoor

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Blockchain is never Bitcoin but Bitcoin introduced Blockchain technology. If Blockchain is a universal set, bitcoin is just a subset of the universal set. Blockchain has a lot benefits considering what it can be used for apart from cryptocurrency. Blockchain technology can be used as a decentralized public ledger for the storage of data and retrieving of information in a cryptographic format.

Eugenar

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Quote from: Astvile on November 23, 2019, 03:49:13 AM

Quote from: pakhitheboss on November 22, 2019, 08:01:24 AM

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.

Basically the blockchain serves as the backbone why the transaction in bitcoin remains strong and secure. With it, people will definitely think that blockchain is directly associated with bitcoin though it could be real in a sense that bitcoin has its own blockchain dedicated only for its transactions.

imutlinda

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Quote from: Velkro on November 24, 2019, 07:32:13 AM

Quote from: crossabdd on November 22, 2019, 07:26:28 AM

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.

Which shows lack of knowledge. When goverment doing "blockchain" and have control over it, its not blockchain, its database which is used since at least 30-40 years.
No single entity can do crypto currency, many tried before bitcoin and everyone failed. There is reason to that.
Only Bitcoin succeed when everyone else failed.

I think they still want full access to this technology, as far as I know bitcoin has succeeded in developing this technology and when a government says something like that it will look ridiculous, they say it and don't see the actual conditions at the moment

rokon1234

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Quote from: BobBct on November 22, 2019, 04:17:23 PM

I think it's a well knows fact that bitcoin is a leading crypto currency which utilizing blockchain as it's platform. It's like a story of Ice Cream and a cone, they are not the same but situation makes them as one for a much better result. It is the same as blockchain and bitcoin, it's different but it's partnership is like marriage made in heaven.

Blockchain technology help bitcoin for faster transaction.so, bitcoin and blockchain relationship is very important for cryptocurrency.

Velkro

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Quote from: crossabdd on November 22, 2019, 07:26:28 AM

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.

Which shows lack of knowledge. When goverment doing "blockchain" and have control over it, its not blockchain, its database which is used since at least 30-40 years.
No single entity can do crypto currency, many tried before bitcoin and everyone failed. There is reason to that.
Only Bitcoin succeed when everyone else failed.

Topic: Blockchain is not Bitcoin (Read 932 times)