China Updates Crypto Rankings, Downgrades Bitcoin - page 2.

hugeblack

legendary

Activity: 2702

Merit: 4002

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.

I began to doubt the validity of this news, news from Bitcoin.com's website and BCH is not at the top of the list. Tongue

Even Bitcoin is the highest rating than BitcoinCash. Roll Eyes

This category based on three criteria: Basic-tech, Applicability, and creativity.
Bitcoin outperforms everyone in the last two rankings, but I do not know why wrong ratings given to the first one "FUD."

talkbitcoin

legendary

Activity: 1372

Merit: 1032

All I know is that I know nothing.

Quote from: rose9696 on September 22, 2018, 12:05:44 AM

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?

well, that's the basic-tech index. I think it will affect the altcoins but can not affect Bitcoin. Bitcoin's capitalization is still very high and it is not involved in competing among other altcoins because it is the king. I always believed that it would never lose its No. 1 position.

it won't affect either of them because these things are always going to be ignored by everyone in the market. some pumpers around the altcoin market may pick up the news and try miserably to pump their altcoin for a little while but that would be about it.

jseverson

hero member

Activity: 1834

Merit: 759

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

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

Nothing at all. The market decides which coin is best, and the current runaway winner is Bitcoin. There are zero indicators that something will leapfrog it anytime in the near future either. Bitcoin is only going to get better and the gap is only going to get larger.

To further support that stand, this is a ranking put out by the Chinese government -- the very same anti-crypto government that banned ICOs and fiat exchanges. I'm not saying that this is propaganda (though it could easily be, knowing them), just that they're not exactly in a good position to rate cryptocurrencies in the first place lol.

vfrcbv91

full member

Activity: 337

Merit: 102

I think that this is not an objective rating and he should not be trusted. I think it will not have any impact on the market and bitcoin.

adrianto1995

full member

Activity: 714

Merit: 160

No matter what China said, I still choose Bitcoin as the #1 cryptocurrency in the world. I know the technology behind Bitcoin getting old and many other coins have more advantage than Bitcoin, but Bitcoin is the mother of cryptocurrency and still used with many people around the world as a payment option and investment...

SuiMikira

member

Activity: 364

Merit: 10

Quote from: Rhosadah on September 22, 2018, 01:53:39 AM

all depending on the trading volume currently the first rank gets the highest trading volume in all of Crypto, bitcoin remains the highest volume, number two Eth, BCH, EOS,
As for EOS being the highest volume as in China due to the best-selling EOS trading volume there, but globally bitcoin and Eth are still the top of all crypto.

No, you're wrong. This rank is based on technology. You can see 3 things they use to give points are Basic-tech, Applicability, Creativity and Basic-tech is the highest point field.

Rhosadah

copper member

Activity: 383

Merit: 100

all depending on the trading volume currently the first rank gets the highest trading volume in all of Crypto, bitcoin remains the highest volume, number two Eth, BCH, EOS,
As for EOS being the highest volume as in China due to the best-selling EOS trading volume there, but globally bitcoin and Eth are still the top of all crypto.

Herbert2020

legendary

Activity: 1946

Merit: 1137

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

SuiMikira

member

Activity: 364

Merit: 10

In the rank last time, Ethereum was in the first position but EOS overtakes it now. Bitcoin also, disappears from top coins. This rank is mainly based on technical, not the market cap so it's easy to understand why Bitcoin didn't appear on the top rank. If we make the rank following market cap, Bitcoin is still the top 1 coin with $116B, ETH is at top 2 with only $24B market cap.

rose9696

member

Activity: 770

Merit: 10

https://streamies.io/

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?

well, that's the basic-tech index. I think it will affect the altcoins but can not affect Bitcoin. Bitcoin's capitalization is still very high and it is not involved in competing among other altcoins because it is the king. I always believed that it would never lose its No. 1 position.

Boombull

jr. member

Activity: 192

Merit: 1

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?

Topic: China Updates Crypto Rankings, Downgrades Bitcoin - page 2. (Read 286 times)