China: Blockchain hui, Bitcoin and Altcoins Pooh?

Not only is the BTC reacted strongly to the headlines from Beijing. Now the government makes it clear that Only the Blockchain was meant with good judgment.

Wrong Interpretation of China’s crypto evaluation

Only yesterday it had been the beginning of a new week, partly astonished reports of the positive statements from China’s President Xi. Calculated from Beijing, the people’s Republic should and will increasingly take advantage of the opportunities of the Blockchain for a variety of purposes. Also, funding should be available for the industry. In many media, this leads to confusion, since China castle some time ago, the first domestic Bitcoin exchanges and Mining, in some regions, says. The reports on the supposedly optimistic assessment of the political leadership of the people’s Republic resulted in some downright euphoria.

Citizens should cipher the risks

And at the same time, for the hope that China could open increasingly for crypto currencies, from Bitcoin to Zcash. Today but state media back row is a good piece. In fact, the Portal “People’s Daily warns of” a apparent misinterpretation. In the right position of the state-owned news media, it says quite clearly: The support and recognition of the Blockchain technology is not a Token equivalent to a enthusiasm of the government for crypto. Instead, the policy speaks even a warning regarding the possible crypto-Investments. You rate citizens, not opening their own Wallets and speculation in Coins.

Crypto market for the time being, do not be discouraged

Instead, the state calls the people to realize the opportunities of the Blockchain as an innovative technology. The Blockchain should support China, so the messages. Crypto currencies but. “Rational” had to stay in the people’s Republic, when it comes to the assessment of digital currencies and their potential. Due to the fact that the Platform People’s Daily is under government influence and control, can be understood to be reporting as a state the touch of a Finger. That Bitcoin and co. recorded, so to speak, the same time as the Blockchain’s success, is not to be equated with a comparable potential for the future. On the market, and thus to the Bitcoin exchange rate itself behind the positive Statements in the end were clearer traces than the “back row”.

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