WeChat and Crypto - page 2. | Bitcointalksearch.org

GideonGono

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Quote from: MarioV on January 09, 2020, 10:11:15 AM

Since the dawn of time with WeChat you can make payments with digital money of centralized entities, which does not correspond to cryptocurrencies based on blockchains. It's logical that this APP is against the crypto world.

I think the administrator of the app was not favor for bitcoin so they would not agree by the use of payment and do advertisement by the cryptocurrency. That was okay because that was only one unlike other popular apps who agreed on the use of crypto.

garyrowe

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Quote from: kamBlanV on May 14, 2019, 09:54:33 PM

when many large industries accept crypto, such as Facebook, Twitter, Samaung, Whatsapp. but other applications like WeChat choose to ban users from crypto trading. I see WeChat's decision will have a negative impact on the value of their quantity. because the world today is very enthusiastic about the crypto world.you can see this source https://www.coindesk.com/messaging-giant-wechat-bans-merchant-users-from-crypto-trading

The wechat attitude to Bitcoin and other cryptocurrencies is not new to crypto enthusiasts as businesses such as facebook once kicked against Bitcoin but today they have become strong advocate of digital currencies. Wechat will not be different, soon they will begin their support for Bitcoin. Whether they like it or not, Bitcoin is here to stay

MarioV

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Since the dawn of time with WeChat you can make payments with digital money of centralized entities, which does not correspond to cryptocurrencies based on blockchains. It's logical that this APP is against the crypto world.

cryp24x

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Quote from: Ailmand on May 15, 2019, 01:39:10 AM

Well, it seems that China is starting to move-away from crypto. There is nothing new about this we have seen China come-in and out of crypto for several times now. It's normal for wechat to ban crypto since wechat is operated in China, and the government is against crypto. Nonetheless, the market will not be affected by it, there are still a lot of social-media and messaging app crypto enthusiasts can use.

There are still tons of platforms which can be use by Crypto Enthusiasts. We should respect their decision and in fact, it's their lost anyway. When then see the effect of having crypto in other platforms and how people will use this religiously, then I think they will open again their application.

J.P Morgan

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Chinese companies are avoiding Cryptocurrency because their government has not legalized Cryptocurrency. From that point of view, WeChat avoids Cryptocurrency. This is just my guess.

Artemis3

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Wechat has an electronic payment system if you are privileged enough to own an account in a Chinese bank.

Of course, crypto is in direct competition to their "service", so its like they are Chinese Paypal of sorts.

Other IMs have adopted their own custom made altcoins, but its more or less the same thing: competitive technologies that aim to do the same: Electronic payments.

And then there is their government stance. Chinese companies have to comply, period. You are not allowed to criticize the Chinese government using the platform wechat either, you'll get banned for it. They probably just added the crypto words to their flag detection system.

romero121

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More to go, what we have got at present relating to the cryptocurrency network and the social networking applications have got varied usage. Just because few service providers were against the usage of cryptocurrency into their platform doesn't mean it is a bad thing for Cryptocurrency. They might get their native tokens used on their applications same as that kik has got. So, with cryptocurrency it is always the time which make things better.

akeegan

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There will be decentralized alternatives that those who are interested in crypto will move onto. I know Elixxir is going to have a messaging dapp similar to wechat and there might be others in the works

adzino

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Never heard of WeChat. Bitcoin is a global crypto currency. Just one firm/institution/company cannot define the future of crypto currencies. Like I said, never heard of WeChat and guess most of the people here are also clueless about WeChat. I can assure you, this won't hurt the price of crypto currencies. Even if it does, the impact will be temporary.

hv_

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akeegan

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China is in essence an extreme version of what could happen if governments reign supreme. This is another reason why we would want a decentralized WhatsApp alternative like the one Elixxir is building

Trangtkhd2709

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I think maybe because China's politics affects this issue, it will take a long time for Wechat to expand with cryptocurrency.

Kakmakr

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Quote from: Mpamaegbu on July 09, 2019, 09:51:35 PM

Quote from: erricducducan26 on July 09, 2019, 07:24:09 PM

I'm not surprised, it's a chinese service.

The Chinese are really shooting themselves in the foot on this crypto thing just because they want to protect their Yuan currency. It's even more amusing to note that the same Chinese had the highest number of miners (in the last). With the ongoing trade war with the US, it's only a matter of time before they realize how badly the Yuan is hurt.

It's all political games and protection of their sovereignty. The Chinese government wants to control every aspect of their own citizens and that includes the communication platforms where they congregate and share ideas. Andreas predict that WeChat would follow Facebook's example with "Libra", but they will release their own token, which would only be traded within China.

You might even see a Chinese government coin being released soon, because it gives them a more powerful tool to track people's financial transactions. Angry

Mpamaegbu

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Quote from: erricducducan26 on July 09, 2019, 07:24:09 PM

I'm not surprised, it's a chinese service.

The Chinese are really shooting themselves in the foot on this crypto thing just because they want to protect their Yuan currency. It's even more amusing to note that the same Chinese had the highest number of miners (in the last). With the ongoing trade war with the US, it's only a matter of time before they realize how badly the Yuan is hurt.

th3nolo

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Quote from: kamBlanV on May 14, 2019, 09:54:33 PM

when many large industries accept crypto, such as Facebook, Twitter, Samaung, Whatsapp. but other applications like WeChat choose to ban users from crypto trading. I see WeChat's decision will have a negative impact on the value of their quantity. because the world today is very enthusiastic about the crypto world.you can see this source https://www.coindesk.com/messaging-giant-wechat-bans-merchant-users-from-crypto-trading

That's really sad.. I can't imagine what will happen with the ads in LocalBTC for Yuan, recently I was searching to buy some BTC using wechat. it had really great prices it's really sad that the govt of China always want to protect their interest.

Payme21

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I think time will change this narrative because Cryptocurrency has come to stay and majority of big businesses will ultimately accept Cryptocurrencies

erricducducan26

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I'm not surprised, it's a chinese service.

Jeremycoin

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Quote from: akeegan on July 09, 2019, 02:53:46 PM

I got banned by wechat just for mentioning the word crypto. I just hope more people adopt Elixxir as a wechat alternative that is actually private and decentralized

Is this serious? You got banned just by mentioning the word? This is really a douche move they're doing right now. You can't just ban people just because they mention a certain word. I mean, what if they mention the name to state that crypto is bad. Won't it be a statement that they support? I know for a fact that WeChat has its kind of digital currency. But, what's the use if they get rid of the competitors? Are they that scared to get beaten up by the crypto? This could actually be a good opportunity for them to see how electronic currency will prosper in society. But instead, they decided to get rid of it from their field of business.

akeegan

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I got banned by wechat just for mentioning the word crypto. I just hope more people adopt Elixxir as a wechat alternative that is actually private and decentralized

krb91

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I feel the banning of crypto by Wechat is based on some ulterior motive of the platform. I wouldn't be surprised if they eventually decided to created their own cryptocurrency for use within their platform, after all, Facebook has done something similar. Let's keep our fingers crossed.

Topic: WeChat and Crypto - page 2. (Read 904 times)