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Re: How does the adoption of China affects the crypto market and blockchain industry
by
chaoscoinz
on 04/11/2019, 12:14:48 UTC
Quote from: Jayson (Torum) on November 04, 2019, 09:51:15 AM
A week ago, President Xi of China has urged the Chinese to seize opportunities in the crypto market and blockchain industry. The announcement caught the market by surprise and drive the price of Bitcoin up until $10, 000. I personally believe that with the participation of Chinese, it is undoubtedly that the adoption rate would be greatly increased. But, wouldn't it subject the Chinese projects to be under the influence of Communist Party of China? What are your thoughts on this one?

Reference:
(i) https://www.coindesk.com/president-xi-says-china-should-seize-opportunity-to-adopt-blockchain
(ii) https://cointelegraph.com/news/breaking-chinas-xi-jinping-urges-accelerated-blockchain-technology-adoption
(iii) https://cryptoslate.com/crypto-community-divided-over-chinas-blockchain-law/
If I'm not mistaken, don't the chinese control most of Bitcoin anyway? I though they controlled a majority of the mining operations, no? Either way, more adoption seems to help the market prices. I feel like the more adoption that takes place, the higher the volume, the better chance we have at staying at the current market price or elevating it.