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Why is China deliberately underestimating BTC in its cryptocurrency rating?




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A review by Weiss Crypto Ratings says that the authors of the official Chinese cryptocurrency rating purposefully underestimate the position of bitcoin.

A review of the agency was prepared specifically for the publication of the next cryptocurrency rating compiled by the Center for Information and Industry Development (CCID), in which BTC received 11th place. In total, this list contains 35 crypto projects.

According to Weiss analysts, the Middle Kingdom considers Bitcoin (BTC) a dangerous asset, since it is completely decentralized and independent.

The agency report states :

“China will never use bitcoin. Bitcoin is an open, decentralized and uncensored digital asset – the opposite of everything the CCP stands for [Chinese Communist Party]. ”

The first and second place in the ranking took EOS and Tron. According to its compilers, these projects are the most promising.

However, skeptics argue that these altcoins are centralized and manageable. The Chinese authorities are guided precisely by such projects, since they are easier to control, and they pose no threat to the country's leadership.

Publication date 10/30/2019
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  • bitcoinBitcoin (BTC) $ 50,629.00
  • ethereumEthereum (ETH) $ 1,741.91
  • cardanoCardano (ADA) $ 1.15
  • polkadotPolkadot (DOT) $ 35.01
  • litecoinLitecoin (LTC) $ 190.27
  • chainlinkChainlink (LINK) $ 29.27
  • bitcoin-cashBitcoin Cash (BCH) $ 519.64
  • stellarStellar (XLM) $ 0.414110