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Crypto Thought Leaders Say US Should Embrace Blockchain ASAP, Following China

ByBit
  • Yuri Molchan
    📰 News

    The Chinese General Secretary and President Xin Jinping has publicly stated that China has to embrace blockchain; the crypto community now wishes the US would do likewise

Crypto Thought Leaders Say US Should Embrace Blockchain ASAP, Following China
Cover image via www.123rf.com
Contents

As reported by a Chinese news outlet Xinhuanet, in a recent speech the President of China Xi Jinping has announced that China must take all advantages offered by the blockchain technology.

The speech was given at the 18th collective study of the Political Bureau of the Central Committee on October 25.

Thought leaders of the crypto community have put up their reaction on Twitter, praising China and wishing the US would follow its suit on the other hand.

 

Embracing blockchain, rejecting Bitcoin

China is famous for its crypto ban, which has been going since autumn 2017, when the country prohibited ICOs. A witch-hunt for crypto exchanges and crypto trading followed but many traders started using VPN.

Now, China is planning to eliminate crypto mining in the country and at the same time is working on launching its own Central bank-supported digital coin pegged to yuan.

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The crypto community leaders react to Xi Jinping’s statement

The prominent Tron and blockchain supporter and CCO of BeatzCoin, Misha Lederman, wrote on his Twitter page that the decision of the Chinese president is going to be beneficial not only for the global blockchain sector. China-originated DLT companies are also going to benefit from that, he said, naming in particular Tron, NEO, VeChain, Binance.

China DLT
Image via Twitter

The CEO of Binance, known as CZ, also tweeted, saying that Binance remains a Chinese blockchain company, despite the crypto ban in China.

Misha Lederman and VanEck’s Gabor Gurbacs after giving praise to the Chinese political leader expressed a wish that the US would follow the suit of China as soon as possible and embrace blockchain.

 

What impact, do you think, the announcement of the Xi Jinping will have on Chinese blockchain companies? Feel free to leave us a comment in the section below!

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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Bitcoin Is Classic Pump-and-Dump Scheme, Says Peter Schiff

ByBit
  • Alex Dovbnya
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    Gold proponent Peter Schiff thinks that Bitcoin evaporating its 40 percent pump proves that it's a pump-and-dump scheme

Bitcoin Is Classic Pump-and-Dump Scheme, Says Peter Schiff
Cover image via u.today

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Contents

Euro Pacific Capital CEO Peter Schiff has come up with a new insult for Bitcoin, calling it "a classic pump-and-dump scheme."

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"You're being played"

Schiff continues to assert that Bitcoin's 40 percent pump on Oct. 25 was the result of price manipulations. The fact that Bitcoin's has completely trimmed these gains in just four weeks definitely flies in the face of bulls.

The gold bug explains that the pump was meant "to sucker in" momentum buyers to dump their bags later. This is supposed to be a wake-up call for all buyers.

Earlier, Schiff lambasted Bitcoin holders for not being able to see through the shenanigans of whales who are selling their coins on the verge of a major price.        

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Other bears are waking up 

Mark Dow, the trader who famously shorted Bitcoin at its current all-time high, recently resurfaced on Twitter with a succinct "Bitcoin is dying" tweet, which came in handy right on the verge of Bitcoin's drop to the $7,500 level.     

While some bulls might be tempted to dismiss Bitcoin price moves recorded on the lower time-frames as "noise," the long-term picture is also gloomy. As reported by U.Today, crypto market analyst Willy Woo opined that Bitcoin might not replicate the success of previous halvening cycles due to its unusual bearishness. 

Only the most important posts per day. Infographics, analytics, reviews & summaries. Follow us on Facebook!

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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