Post
Topic
Board Bitcoin Discussion
Re: You should burst this MYTH
by
jostorres
on 01/01/2020, 04:34:56 UTC
I often hear people quoting that some country (most of the times China) is positive towards blockchain and are thinking to using it in their country, so they are also  positive towards Bitcoin.

This is just a myth. To be honest Bitcoin and Blockchain are separable. Blockchain can sustain without crypto but crypto cannot without blockchain.

In recent times Bitcoin moved from 7k range to more than 10k may be with the news of China president talking about blockchain. Then people were saying that China is positive towards crypto but things were not that good. And now things are on the same page again.

So burst this myth that where blockchain is Bitcoin will also be there.
Both of them are not the same and Blockchain can be used without Bitcoin. There are lots of companies and countries that are creating cryptocurrencies and those cryptocurrencies are going to function with Blockchain and they are not adopting Bitcoin. So you’re right, they are both two different things and Bitcoin cannot function without Blockchain, and same thing applies to every cryptocurrency there is today.

As we all know it, China is creating their own cryptocurrency and they will be releasing it very soon. I’m still confused on what’s really the status of Bitcoin in China, I’ve heard that it is legal but the banks have been issued warnings to stay clear from handling Bitcoin.