January 15 - China crypto FUD leading a massive sell out. BTC slumps 30%, TRON volume records a 5 days high, everyone is asking to HODL TRON. Who is behind them all?
Well, coin do go up and down, and it will be forgiven when it reaches the next high. After all, “corrections” are bound to happen. But there will come a time that some of these coins will be corrected to zero value and it will happen one very night before you can switch on your phone to sell any of it.
If I could quote what bitcoin cash CEO Rick Falkvinge's interview a months ago, he clearly said two important things
BITCOIN CANNOT MAKE EVERYBODY RICH - there is an upper limit to the bitcoin value and will not replace the paper money and more importantly
BITCOIN MAY NOT BE THE FINAL CRYPTOCURRENCY- there will be consolidation and merger before many of these coins disappear.
That’s when he pointed out that SixDegrees was replaced by Friendster which was replaced by MySpace and then replaced by Facebook. So even bitcoin is not so positive that they will be the ultimate survivor!!!
To sum everything he has to say, cryptocurrency is here to stay but it will not replace the dollar note but not all crypto will stay. Over 2000 coins today, if 10 will survive (although 3 of them may be the ultimate success), which coin will you put your bet on? Put all your bet on the chinese coins and here is why.
9 out of 10 hate the Chinese government for the latest FUD causing bitcoin to slump over and over again (Sept 2017 and Jan 2018). But what’s going on really?
Here is some history of China economic that you need to know.
- They ban the usage of google in china so that they can produce their own version of google - Baidu in 2010.
- They ban Whatsapp and Facebook in china and replace it with their copycat version of wechat in 2011 that host 963mil users today. One happy user includes Bill Gates who has tried that app itself!
- Replacing eBay with Alibaba taobao and PayPal with Alipay in 2003
- They ban uber to only grow their own didi chuxing
- they ban youtube in China only for their own youku to be found in 2012.
History speaks for itself and should I say more? QQ, Sina, Suohu, Mobike, Soqou etc and who needs Tesla when you have BAIC and BYD (a 95% copycat with added features)?
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Right, some of you may argue who is China compare to the rest of the world? After all, they only have 18.6% of the world's population. True, but economically they are a different monster after all
For the record, the top 2,130 individuals in China now have fortunes equivalent to the economy of the UK. Didi Chuxing (the china Uber equavalent) has recorded 1.4bil rides in 1 year in comparison to uber 1bil rides in 6 years.
I’ve work in china for 15 years to understand how is china different from the rest of the world. Here are top 5 reason why China will be successful
- Dictatorship - The government protects their own interest hence stopping anything that they see a threat coming from the rest of the world. There is no people's power.
- Buying power. Ever wonder why the world’s property slump in 2017? The Chinese government put a new rule to control a maximum of 50,000 yuan transaction for all chinese hence stopping all money overseas transfer and directly withdrawing all property investors away.
- Innovation - What? Yes innovation. China is not an inventor but they are an innovator. Every invention made from the west will be improved and innovated and then sold at twice the price.
So, bitcoin may not last forever but watch these three CHINA coins grow. 1) TRON 2) QUANTUM and 3) NEO
I cannot promise that it will further x2000 or x5000 but I can promise that it won’t die.
Here are some things you need to know about these Chinese coins.
A) NEO founder - Da Hongfei. NEO is also known as the copycat and the china version of Ethereum.
Goal: To be the vanguard in the effort of building a smart economy.
SMART ECONOMY= Digital Assets + Digital Identity + Smart Contracts
Technology wise:
NEO is possibly even greater than Ethereum.
NEO runs on a specifically developed proof of stake consensus mechanism which is arguably the best proof of stake mechanism available. NEO’s blockchain is also quantum computer proof which gives it an upper hand in comparison to other blockchain projects.
Contact wise:
It is very likely linked to Chinese government and NEO has a strong open source developer community with CoZ
B) QTUM founder - Patrick Dai Xuguang (nickname 帅初 — Shuai Chu). Qtum is a younger version to NEO but Qtum team comes from both the Bitcoin and Ethereum communities as well traditional companies like Baidu, Alibaba, Tencent, NASDAQ etc
Contact Wise:
Patrick has a complicated background with some saying that he was known as Steven Dai when he was associated with BitBay. Patrick Dai has been named to the Chinese edition of Forbes magazine’s “30-under-30” list of young innovators, entrepreneurs, and leaders.
QTUM is supported by Wanxiang Group and work alongside Chinese regulators since 2013, including the central bank and the China Securities Regulatory Commission
C) TRON
Justin Sun - Say no more. Youngest among them all. Age 27, this guy is someone to be reckon in the digital world
Sun founded Peiwo, an app again is the China copycat of Snapchat but innovates it alot more, matching and connecting users by analyzing 10-second voice samples as well interests
Sun became Davos Global Shaper in 2014 and was the former representative of Bitcoin settlement platform Ripple in China.
Contact Wise:
Earlier in January 2018, Tron Labs announced that Peiwo APP (also founded and owned by Justin) received official recognition from the Chinese government. The Chinese government gave the National High-tech Enterprise qualification that will provide Peiwo with preferential status for research funding, staffing, and etc.
All three Chinese crypto CEO are said to be the new face of China to engage and monopolize the economy of the world, faces that represents youth, vibrant, very fluent english speakers. Jack Ma may have open the door but his age remains a bearer to overcome to young energy of the west.
To top that off, Justin has already 100,000 followers on twitter (an app not so commonly use in China) may show signs that the great wall of China is about to open for all but at the same time protected by their big master.
Watch out for these three coins to pump during Feb 15th the Chinese Lunar Year and once more Sept 24th during the Mid Autumn Festival - where the Chinese celebrate on the full-moon!
Behold, these three coins will not die!