Topic: China’s President Xi Urges Accelerated Blockchain Technology Adoption - page 4. (Read 628 times)

I am afraid if they withdraw words about that, their words are a bit ambiguous, by saying blockchain technology will be used there,
doesn't that mean they will use bitcoin and other crypto currencies? if they try to pull these words out really manipulation

That can't be foretold by now, because as sudden pumps occurred some other traders including holders grabbed the hot spikes then sold their portions. I thought it's a continuous process upon seeing price increases gradually from $8k the towards $10k all time high, then goes down at $9.7k fluctuations. If it won't sustain, most likely we'll see another price declination just like before.

China with its very controlled economy does have advantages over Western nations in some respects. It can be decided centrally that the whole country will adopt blockchain, and this guarantees it will happen. Western countries are obviously set up differently, and there can be a lot of resistance from the established powers - banks I suppose in this instance - to anything that could threaten their hegemony. So yes, it is certainly encouraging that China is making these statements about blockchain... it should really help crypto.

As per sites such as Coindesk, this is what caused the 30% spike within 24 hours. I agree with what you said. People are forgetting the possibility of China using the Blockchain technology to bolster their own surveillance and spying mechanism. For now, everyone is overjoyed at the increase in the exchange rates, and ignoring the other factors.

I am predicting that five years from now, the whole world will be looking to China as the world's capital for blockchain innovations and development. This country is already very much ahead of USA, japan, South Korea, India and Russia as far as applications of the blockchain technology is concerned. Indeed, President Xi Jinping made the right assessment that it is the blockchain technology that can be able to transform and influence many industries for good and bring them to the modern and data and info driven economy.

Sadly, the USA is not a big leader on this field and seems to be complacent in using the technology for its economy. Although USA has not banned Bitcoin, it must set its eyes on the benefits that one can derive from its use and application. All other countries should follow the lead of China on this aspect, otherwise they will just be the markets of the products/services that will come out of the blockchain-based innovations.

I am not a big fan of this great leader President Xi Jinping but i admire his strong and deep understanding of the blockchain and the impact that it can bring to many industries and people. As to why there are many analysts who attributed his statement on the blockchain for the recent flash rise of the price of Bitcoin, that I do not understand perfectly. Maybe Bitcoin is just looking for anything it can find on the news and this statement of China's President is the one available so there is no choice. Just my opinion, my dear.

I read that the only supported is the blockchain not the bitcoin but for these eventsmaybe it really bring hype since if you mean blockchain the once came to the mind of people is the bitcoins so provably many people bought when Chinese government announce this and it really bring a good impact since we see today that the market goes crazy. But let see in upcoming days if Chinese influence can sustain the current pump

I'll be disappointed if this is one the causes of the pump but knowing how literal and dim many are it probably is.

'blockchain' is a dream technology for authoritarians as much as it is for the diametrically opposed.

And if you think a fully blockchained China is good for btc there think again.

With normal banking/apps P2P stuff can probably continue to slip through the cracks.

A legit government crypto ups the control and surveillance to truly gross levels.

Although it is good to see that the Bitcoin prise is heading fast towards the psychological $10,000 mark but this development also might prove that China can really influenced the market movement so hopefully this is not a self interest agenda by China that they are just saving the market from moving lower.

China might be aiming new blockchain technology and to be able to achieve it there's a need for them to fully accept the blockchain and cryptocurrency. We will see what they wanted next in their moves today. I hope there's no war but more into development of system that will benefit their country.

China is quick enough when it comes to adoptation of blockchain tech into their country. They build their own cryptocurrency to promote this currency platform in their country. China will become successful when it comes to implementing this cryptocurrency. They have the advantage in blockchain technology because of their population.

China wants to be superpowers in the cryptocurrency sphere, and are tapping into their huge market base to patronize their very own currency. But I still think they need to control Bitcoin inorder to really influence cryptocurrency.
There could be a buying war between nations for control of the limited number of bitcoins which can be made available.

Blockchain is not a crypto, so this is not gurantee anything good about bitcoin and crypto in general, guys

In fact blockchain technology has long been an attraction for the government, they prefer technology rather than cryptocurrency. Cryptocurrency is now still unprofitable if adopted for the government, because they could have made their own cryptocurrency. Considering yesterday the US government emphasized regulation on Libra, now China is proposing to adopt a blockchain. Is there a world technological war here?

The current increase is very surprising and I heard because it was influenced by the news that Chinese president Xi Jinping asked the country to accelerate the application of blockchain technology as the core for innovation and that was very good news.
but vigilance must still be anticipated because the decline could come suddenly in the near future, but that is not the desired expectation and hopefully this is a good start for Bitcoin and Altcoin to reach the highest prices.

The sudden price increase of bitcoin is affecting the altcoins, its dumping and hurting it. I hope this isnt manipulation or bitcoin stabilizes before increasing again. Idon think this is a healthy increase.

And look the effect on the Bitcoin price within a couple of hours, It's a massive come back of Bitcoin within a night also, I think this is the right track and this speed should be kept for the rest of the months of this years, I think if this will be continued then Bitcoin price will reach at least 20k within this year, not only that but also cryptocurrency platform get a boom in the coming days but we have to look over very carefully that a group of people could take an opportunity to make money by this situation, it's really a matter of delighting that this platform has got another favorable blow which could make this platform again stronger than ever.

Knowing China, they are probably excited about the "track all transactions in one place without any way to delete them" aspect of blockchain, rather than freedom and decentralization. They can even try to put their other dystopian projects like social credit score on blockchain, or try to integrate blockchain with facial recognition to have immutable history of every citizens movements. Anyway, this isn't good news for Bitcoin, and if you think otherwise, you're a newbie.

This is not a total surprise from china since their courts were already recognizing Bitcoin as a property. But this one is very special because it is the president himself who proclaims that the blockchain technology should be utilized and with a little sense of urgency with it. This is Xi Jinping talking, the most powerful man in china. This will have a massive effect on blockchain and its use, and most likely on Bitcoin as well, the coin that comes to mind when talking of blockchain.

wow this thread has posts from crytotalk sig campaigners alone. been a while. missing new happenings here. 

but this is really good news for all crypto enthusiasts, another boost to suddenly increase the bitcoin's price within 24 hours. great!

Indeed. They hurry up and chase their benefactors tails while banning them or shunning them from their own countries. China has already started the development of its own cryptocurrency and you can already guess how it would go once it is released since China is a country that is or would be monitored by the government 24/7. Plus, with their own cryptocurrency in the country, I'd believe that the government would start a strict crackdown on BTC users, stopping its growth inside China.