Several days ago I became the proud owner of some Antshares (or as it will be called, “NEO”). Antshares has been hailed by its investors because it has risen so much, so quickly. It is also hailed by many developers as the “New Ethereum” or “Ethereum Plus”.
I am not as confident as many investors in Antshares, and here’s why:
I bought Antshares not because others had made money, nor because of its platform. I bought because many believe it will be the Ethereum of China and, well, 1.3 billion people can’t be wrong?!?!
But here is the concern. Currently the Chinese government is said to be investigating all the issues surrounding crypto and there is some talk of adopting a crypto in China, much like Japan did with Bitcoin. However, China doesn’t follow the rules. It hasn’t before, and because of its size and power doesn’t need to now.
-What prevents the Chinese government from developing its OWN crypto, rather than adopting Antshares or anything else? That wouldn’t be fair? There is already a market for other cryptos?
-Do you really think they care about being fair to other currencies? If so, you really need to discuss the movements in the Yuan with some in the know.
As for a market existing already for other cryptos, there are 1.3 billion reasons why they don’t need to join an existing crypto but can start their own instead.
So, I am blithely hoping that the Chinese government “plays nice” with the crypto markets and that, if and when it comes to it, they use the Japanese model of accepting an existing crypto as currency rather than forcing its people to use an officially sanctioned currency.
And, in the meantime, I will have very limited investment in Antshares – hoping for the best but prepared for the worst.