China's Biggest Political Event Sees Blockchain Praise. Does it mean China is opening up?
0:58 Market Analysis
1:58 Bitcoin Transaction Volume Hits Two-Year Low
3:18 China's Praises Blockchain - but with official party language.
7:45 NEO pauses ! What’s happening!
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NEO is King 👑, just bought more with the dip from the bs fud. 🤑
Yes it‘s a good time to fill your bags .
Good call! Look at Intel's share price earlier this year. I think it dropped about about $7 from $50 to $43 on the back of the announcement that most computers in the world had vulnerabilities in the processors they were producing. A month on and price has returned to $50. There is money to be made on this fud
Yeah almost everytime you see a big sell off or a big dip from fud theres a nice rebound right after. Weak hands sold and I got a good deal on my fav crypto.
As long as as there are good fundamentals most things can weather Fear and Uncertainty.
What people are misunderstanding towards China's stance on cryptocurrency is that it's not just about 'banning cryptocurrency', it's about controlling capital outflows. All asset classes are affected by this. It's incredibly hard to invest overseas while inside China. Until their stance on capital controls changes, cryptocurrency will remain on the wrong side of the government. With that said, here at the moment I struggle to go a day without talking to a Chinese person interested in blockchain. There is a blockchain park in my city.
Just like Stocks and Commodities trading before it.... as well as a means of getting capital out of China.
Exactly!
Thank you for your comments. I also believe it has a lot to do with capital outflow control.
Thanks boxmining. Hopefully China will come back officially soon as well.
Fingers crossed.
As regulatory questions get answered, there will be a rush into these assets as the opportunity outweighs the risk in the sector. There is plenty of money on the sidelines waiting to get into the market from institutional investors that cannot due to regulatory constraints. It may lead to a second FOMO event like late last year. However, it may also lead to a true bubble.
Hopefully this year we can see some capital inflows let’s all pray together for something like this to happen. Thanks for your comments.
My feeling about China over the last few decades is that it is the model of a rational actor in regards both it's internal politics and external dealings with the rest of the world. The idea of decentralisation does not sit nicely within the CCP and indeed it seems an affront to a political system that is generally seeking to pull power back towards Beijing. However, I also believe that the Chinese know that if they want to maintain their position as a global power and indeed surpass the USA as the dominate player on the international stage then they really need to be at the forefront of the next few big tech developments rather than just adopting them from the West. I think if the way that China has developed over the last generation is anything to go by then you'd have to believe that they will find a way to make blockchain work for them rather than allowing political or other irrational ideologies get in the way of progress.
Seems like good news are coming for Crypto's ;)
Thanks for the update news buddy !
Thank you for watching. Your continued support is much appreciated.
Blockchain will not go on without a crypto or token
Tokens are definitely a driving factor for the continued growth of block chain technology.
I think it unlikely that any government will be able to successfully promote a "love blockchain hate crypto" agenda and still be a major player in the space. It still remains to be seen whether national crypto currencies and corporate crypto currencies will gain any traction at all compared to fully decentralised alternatives.
Thank you for your comments. I think Its certainly difficult for them to promote such a stance as love block chain hate crypto .I believe they must coexist in the same space .
Ya, of course we would love to hear more about how the model works and how it affects transaction fees. I get a good majority of my info and news from you so anything you can tell us is great!
About China, its scary territory! Be careful investing in Neo. Doesn't matter if it is a sound project, ultimately its up to the government who can and will change their mind in a heartbeat. I've seen some things here that really remind that this is a communist country.... would you invest in Neo if it was out of N. Korea? Of course China is different, but sometimes not so much..........
Thank you for your comment. I try to keep you guys up-to-date with the unfolding situations coming out of Asia.