OK I don't know if pro is the right word to use, but it seems we are heading in the right direction.
Ahh China, a country of beautiful nature, babies pooping on sidewalks, and bitcoin maximalist. Or, is it? The last point I mean.
China has long been at the forefront of bitcoin mining and currently it seems they are more and more in the news as the miners are throwing their weight around. But now there's, a strange smell in the air. No, it is not the stinky tofu. It is the smell of change.
Recently, the People's Bank of China (PBOC), also known as the bane of my existence, has stated that they think Ethereum is moving in the right direction. In fact, China as a government seems to be more infatuated with Ethereum than with bitcoin (the btc miners still haven't switched yet, why kill your cows right).
I mentioned a few days ago about Vitalik and Putin meeting and discussing blockchain technology, and if we know anything about China it is that they don't like being late to the party.
Vitalik has stated that he is seeing a rise in the amount of people who are actively using Ethereum to build and run projects, instead of just holding ether in the hopes that it makes money in a fiat sense. This implementation is one of the major things to look at when evaluating a coins future potential. Add to that the EEA setting up an office in Hangzhou to deal with the new Chinese companies involvement it's starting to sound like a perfect match.
I guess we will always have to see what the future brings, but any crypto that has the Chinese government on their side, will be a crypto to pay attention to.
Photo sources: knowyourmeme, businessinsider, bitcointalk
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Wow thanks me :)
but they're buying mostly btcs
The Chinese people sure. For now, but ethereum was just listed on the two largest exchanges so now the people have an easier access. I don't expect anything to change overnight but I think the government wants its own people to get away from btc.
Are you sure its not the smell of smog from powering all those GPUs now for ETH ;) just messinnnnnn.
But seriously it seems like they are moving in that direction. Bitcoin really has some major flaws of right now that could hamper it big time over the next few months due to its slow processing speed.
ETH however is also starting to run into these issues which I honestly thought it would be able to handle. So far its not crushing it but we have seen a few sluggish moments which is not the best for a crypto currency still just 2 years old.
I honestly believe we will see another crypto besides ETH and BTC that will beat both with an improved blockchain that is faster. What that one is yet I am not sure but for sure want to know asap.
The smog has probably made me dumber just being here ;)
I'm sure as the market expands we will see competitors. Right now even there's other platforms like lisk and stratis which have been making strong showings. That being said I am in awe of the team behind ethereum and the EEA. It really seem s like everything is coming together.
I bet in 5 years this whole cryptosphere will look entirely unrecognizable.
I will be glad if you follow me.
Sure!
Well the technology is moving very fast but the political people they move very slow. Not all the people are in the favor of clever and useful things. From crypto point of view China is more free comapre to other countries.
I agree mostly. From my experience the Chinese government can be very fast, or slow, depending on the situation. Anything that involves face they act immediately. If they see other countries advancing faster technologically based, they want to be faster. They are behaving a lot like Japan did in the 90s. ( in terms of tech and banking, basically nothing else)
When i was talking about slow politics it was not about China, in Europe, a lot of countries are far in the past.
Ahh my bad. Totally read that wrong lol. Agree 100%
Have you seen Ether prices in the last 24 hours :)
I have. I've been in ethereum since $6. Never sold a coin yet