The Chinese government released its first rating scale for cryptocurrencies and Ethereum, Steem and Lisk at the top 3 while Bitcoin ties with Verge on the 13th place.
A government research unit, called the China Center for Information Industry Development, has ranked 28 cryptocurrencies and the blockchains behind them. In a blow for bitcoin enthusiasts, it was ethereum that took the Chinese government's research group's top spot, based on the technology involved, application, and technological innovation.
But here's the catch - experts warn consumers not to take the rankings too seriously. Really, why release it then?
It's a good time to re-evaluate your crypto holdings. See more here: Bitcoin ranked 13th by Chinese government
Disclosure: This post does not intend to provide investment nor does it represents that the securities or services discussed are suitable for any investor. Investors are advised not to rely on any information contained in the article in the process of making a fully informed investment decision.
Lol-most of these coins don't even have a complete product or don't scale well. I really want to know how they judge new tech.....
EOS and Bitcoin should be high/higher.
I guessing china gov needs more research....
Ranking have been released some many times- bitcoin/and most crypto supporter don't give jack shit about. The is just a ploy by the China gov to say it still has power to control crypto.
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Interesting post. From what I can see, the Chinese government has not addressed a ranking for the best cryptocurrency to hold value. The items reviewed are infrastructure technology, applicability and creativity.
you have a point. I was surprised EOS is not in the top 10.
Do you think it will effect the market anyhow?
Lol the Gov knows jack shit. If the Gov influences the price of crypto by saying what good-the def of crypto is gone. Ranking have been released some many times- bitcoin supporter don't give jack shit about. The is just a ploy by the China gov to say it still has power to control crypto.
Just take these news with a grain of salt.
Since its coming from China who banned and discredited bitcoin and altcoins multiple times in the past, I think the market impact of the news is not as significant as in the past. People have become callous on negative news.