China Updates Crypto Rankings, Downgrades Bitcoin

Red-Apple

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Quote from: cabron on October 20, 2018, 05:12:25 AM

Quote from: coinwizard_ on October 08, 2018, 01:38:56 AM

Putting EOS at the top shows how clueless they are when it comes to crypto. EOS haven't even produced anything usable yet, anyone can create theories so they should base it on completed products instead

That is not true. EOS has proved to be a more beneficial than any other platform. Check how it has been going so far there had been a real development with huge list of tokens already under its wing. Dapp developers were doing great innovations in the platform. I think there is more chance of EOS to go up the ranking than ETH.

in this Chinese government issued ranking there is no chance of other coins ranking up as long as there are centralized coins they love and control.
and as for pumping prices there is no way you can compete with the billionaire pumpers behind centralized coins like ethereum for the time being until they get enough pump and dumps to kill the coin and move to another new coin.

tegarp90

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Quote from: Boombull on September 22, 2018, 12:03:30 AM

The China Center for Information Industry Development has updated its crypto rankings. The list contains 33 crypto projects, ranked overall and in three separate categories. High up in the overall ranking are EOS, Ethereum, and Bitshares. Bitcoin, however, has been downgraded.

Read more here 👉 https://news.bitcoin.com/china-crypto-rankings-bitcoin/

What does this indicate for Bitcoin in some years to come?

I think as long as they hold cryptocurrency, bitcoin price would be okay and will not go down anymore.
So, it's just the matter of time when they will pump bitcoin.

ricatop

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nothing. this is another way to manipulate bitcoin and nothing more. Bitcoin will cost over 100k dollars next year, you will see it Wink

dmcx

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Quote from: Boombull on September 22, 2018, 12:03:30 AM

The China Center for Information Industry Development has updated its crypto rankings. The list contains 33 crypto projects, ranked overall and in three separate categories. High up in the overall ranking are EOS, Ethereum, and Bitshares. Bitcoin, however, has been downgraded.

Read more here 👉 https://news.bitcoin.com/china-crypto-rankings-bitcoin/

What does this indicate for Bitcoin in some years to come?

I feel you are safe, because it is lowered to such and BTC will still be normal tomorrow. First of all, I would like to say that the bitcoin price is going up and down uninterrupted, sometimes it is down, through which the table as shown clearly indicates the uncertainty of using this bitcoin.

cryptohunter

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obviously centralised projects are more highly regarded there

cabron

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Quote from: coinwizard_ on October 08, 2018, 01:38:56 AM

Putting EOS at the top shows how clueless they are when it comes to crypto. EOS haven't even produced anything usable yet, anyone can create theories so they should base it on completed products instead

That is not true. EOS has proved to be a more beneficial than any other platform. Check how it has been going so far there had been a real development with huge list of tokens already under its wing. Dapp developers were doing great innovations in the platform. I think there is more chance of EOS to go up the ranking than ETH.

talkbitcoin

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Quote from: Bagaji on October 20, 2018, 04:53:09 AM

Unfortunately the Chinese government lay more emphasis on what they believe and hold as their own. Seeing the ranking system it mean from the most Centralize to the most Decentralize cryptocurrency, so, the most Decentralize cryptocurrency is Bitcoin but the most Centralize cryptocurrency is the EOS which is not visible and doesn't have real world use like Ripple.

if you look deeper at each coin you can see that the comparison is very wrong because these projects are not in the same category as each other so they should not be compared with each other. a token like EOS or ETH are tokens and should not be compared with other coins like bitcoin and Ripple. and centralized coins like Ripple should not be compared with decentralized coins like bitcoin.

Bagaji

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Unfortunately the Chinese government lay more emphasis on what they believe and hold as their own. Seeing the ranking system it mean from the most Centralize to the most Decentralize cryptocurrency, so, the most Decentralize cryptocurrency is Bitcoin but the most Centralize cryptocurrency is the EOS which is not visible and doesn't have real world use like Ripple.

Ozero

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Quote from: Boombull on September 22, 2018, 12:03:30 AM

The China Center for Information Industry Development has updated its crypto rankings. The list contains 33 crypto projects, ranked overall and in three separate categories. High up in the overall ranking are EOS, Ethereum, and Bitshares. Bitcoin, however, has been downgraded.

Read more here 👉 https://news.bitcoin.com/china-crypto-rankings-bitcoin/

What does this indicate for Bitcoin in some years to come?

That is, determining the EOS first place, in fact, in China recognize the technological superiority of this coin over ethereum. I hope that when the planned improvements are implemented in ethereum, the situation will change again and ethereum will again come out on top. Bitcoin is not in the top places, because according to technology it is very behind. While ranked sixteenth.

Kemarit

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First, that report is utterly crap. Who in the right frame of mind will rank anyone coin above Bitcoin? Unless they're shilling for some coins on the top of the list, I doubt the veracity of this so called reports. Second, it came for the Chinese, so it doesn't bring any weight for the crypto community as we all know that they already turns their back specially against Bitcoin. What does this indicate? Nothing, we won't even blink an eye because some Center for Information from China reported this, they're already irrelevant in this field and this is a bad way to try and get back into the limelight.

voron83-05

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coinwizard_

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Putting EOS at the top shows how clueless they are when it comes to crypto. EOS haven't even produced anything usable yet, anyone can create theories so they should base it on completed products instead

Wind_FURY

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Quote from: Kprawn on October 06, 2018, 01:19:43 AM

The thing is, who cares about these rankings and why does it even exist? Most of these rankings are only used for pumping

specific Alt coins, where these people are invested in at the time, so it is serving it's masters and not the people of China. I

would just ignore the rankings and continue as normal. Nothing to see.... just move on. Grin

Plus who granted the rights for those people to become the authority to rank cryptocurrencies and make that something "official"? Are they developers who have extensive experience in cryptography?

Herbert2020

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Quote from: kaya11 on October 06, 2018, 01:20:53 AM

Quote from: Herbert2020 on September 22, 2018, 12:58:44 AM

again like all the previous times they are ranking the cryptocurrencies based on their centralization factor and they rank the most centralized altcoins on top and the more decentralized and out of their control the coins are the lower their ranks will be.

the interesting thing about this however is the fact that people who have not been giving any shit about China are not so interested in what the Chinese government is saying about altcoins only because the bags they are holding are on top of their list regardless of how much money they are losing Cheesy

Does this ranking shake things up? Will it be affecting the price of BTC? Well if that is the case then those 33 coins will be affected too since alts are correlated with the price of Bitcoin. What do you think-what is it they want or their purpose of ranking those alts? Or maybe it is just another way to advertise the coins.

this is not the first time they released such ranking. the first time i remember had no effect on anything. people got hyped up for half a day and one of two coins go a small pump because of it but eventually the hype vanished because at the end of the day people don't care about a government released ranking specially when it is Chinese government!

kaya11

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Quote from: Herbert2020 on September 22, 2018, 12:58:44 AM

again like all the previous times they are ranking the cryptocurrencies based on their centralization factor and they rank the most centralized altcoins on top and the more decentralized and out of their control the coins are the lower their ranks will be.

the interesting thing about this however is the fact that people who have not been giving any shit about China are not so interested in what the Chinese government is saying about altcoins only because the bags they are holding are on top of their list regardless of how much money they are losing Cheesy

Does this ranking shake things up? Will it be affecting the price of BTC? Well if that is the case then those 33 coins will be affected too since alts are correlated with the price of Bitcoin. What do you think-what is it they want or their purpose of ranking those alts? Or maybe it is just another way to advertise the coins.

Kprawn

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The thing is, who cares about these rankings and why does it even exist? Most of these rankings are only used for pumping

specific Alt coins, where these people are invested in at the time, so it is serving it's masters and not the people of China. I

would just ignore the rankings and continue as normal. Nothing to see.... just move on. Grin

fakegurutu

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Quote from: Boombull on September 22, 2018, 12:03:30 AM

The China Center for Information Industry Development has updated its crypto rankings. The list contains 33 crypto projects, ranked overall and in three separate categories. High up in the overall ranking are EOS, Ethereum, and Bitshares. Bitcoin, however, has been downgraded.

Read more here 👉 https://news.bitcoin.com/china-crypto-rankings-bitcoin/

What does this indicate for Bitcoin in some years to come?

Thats just their way of spreading FUD (Fear, Uncertainty, Doubt) to bitcoin but actually, most whales are from china. Their making a false rankings of the altcoins and downgrading bitcoin so that its value will fall, and if that falls, they will buy more bitcoin and they will turn things around.

Wind_FURY

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The researchers behind the Chinese Center for Information Industry Development want to make a perception that Bitcoin is a technically less-viable project. That's ok because we know that they only want to pursue their own agenda, which is usually "profit".

But 10 years from now, I promise everyone reading this post that EOS will be out of the top 10 together with Ethereum and most of the "smart contract" platforms. Why? Because their "blockchain" will be so bloated, their network centralized, that there will be no advantage for developers to use them, only disadvantages.

Bitcoin will be always there, as dependable, and as strong as ever.

ubiheal200

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In the previous rating, Ethereum was in the first place but the EOS overtook it right now. This rank is mostly based on technology rather than market capitalization, so it's easy to understand why. Bitcoin does not appear in the top spot. Again like all previous times they ranked electronic money based on their focus factor and they ranked the most concentrated altcoins on the head and decentralized over and beyond the control of the coins. Their rank will be lower. All depends on the current trading volume ranked first with the highest trading volume in all Crypto, bitcoin is still the highest volume, the second is Eth, BCH, EOS, regardless of China I still choose Bitcoin as the world's No. 1 electronic currency. I think this is not objective assessment and should not be trusted.

kidsrock

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I wonder what they use to determine the current rankings because I see that bitcoin is not on the number one and I think I don't believe with this. For me, bitcoin still in the number one and the altcoin is behind on bitcoin only for now. I think soon, they will change their crypto rankings, and they realize that they make a wrong list on the sites. Although the other coin has potential to increase, still, bitcoin will lead the crypto to the right path, and they will follow bitcoin.

Topic: China Updates Crypto Rankings, Downgrades Bitcoin (Read 286 times)