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Ethereum (ETH) Ranked #1 In New Chinese Government Ratings

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Ethereum (ETH)
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The Chinese government has been known to have ordered a total ban on all cryptocurrency related activities in its jurisdiction. Every crypto from Bitcoin (BTC), Ethereum (ETH) and lesser coins was targeted in the ban that shook the crypto-verse last year and early this year. This attempt by the government was seen by many Crypto-enthusiasts as being unfair and perhaps a precursor for the authorities to issue a digital form of the Chines Yuan to further guarantee the currency as being a better stabler option to the regular crypt out there. This has not yet materialized but the Chinese authorities are now ranking cryptocurrencies.

In the new rankings that have just been released by the Ministry of Industry and Information technology, Ethereum (ETH) scored 129.4 in an assessment index by the ministry and due to its smart contract capability. The evaluation of the cryptocurrencies focused on the technical proficiency of the cryptocurrencies; the corresponding platforms that they offer; the application level of each; and their availability to the users.

Analysts were quick to add that the Chinese government rankings overlooked factors such as the track records of the cryptocurrencies to come up with the list. This then explains why Bitcoin (BTC) was ranked #13 even if it is the oldest and most popular of the bunch.

Below is the complete list from @cnLedger from Twitter:

Source, @cnLedger

To note is the number 16 to 25 rankings below the main table in the screenshot above.

The rankings by the Chinese officials could also prove what many Cryptocurrency enthusiasts have been saying with respect to Ethereum ‘dethroning’ Bitcoin (BTC) from the top due to its superior qualities and functions. Roger Ver, also known as ‘Bitcoin Jesus’ had expressed a similar opinion a week ago and had this to say:

“I see it happening, and I believe it’s imminent. Ethereum could overtake bitcoin by the end of the year and bitcoin cash could do the same before 2020.”

Bitcoin has enjoyed the spotlight for the last few years due to the fact that it was the first cryptocurrency in the markets. It also introduced us to blockchain technology and the concept of decentralization through its creator, Satoshi Nakamoto. What remains to be seen is the ‘flippening’ of Bitcoin by Ethereum.

Flippening is defined as the act of one lesser known or less dominant cryptocurrency, gaining prominence over another formerly dominant coin with time. In this case, Ethereum will be the one flippening Bitcoin.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Behold The Cryptopreneurs – Overcoming The Obstacles Facing The Blockchain Industry

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Integrating blockchain technology is fast becoming a necessity for enterprise ventures and small or large businesses, but with a growing number of choices in the tech revolution, it’s difficult to pick a direction without feeling overwhelmed or taken advantage of. This is where BEHOLD THE CRYPTOPRENEURS comes in.

Private keys, the myth of anonymity, and the battle against anarchist ideology are only a few of the difficult challenges faced by businesses that want to incorporate blockchain into their culture. Author Dennis H. Lewis guides the reader through those challenges and helps them discover the true potential of investing in this new economic paradigm.

Every business has pain points that must be overcome in order to branch out and thrive in an ever-changing commercial environment. Blockchain has real world solutions and cryptopreneurs are not limited to the cryptocurrencies they invest in but rather how they seize economic and technological opportunities to make it work for them.

Innovation, trust, and solutions can differentiate your business from all the noise, but without a solid marketing plan, a cryptopreneur can have the best idea and never get far. Remember: a million great ideas times zero market presence equals zero success.

Investors want to know there is public interest and enthusiasm in a project before they commit any money to it. As a cryptopreneur, you are tasked with generating that interest from the…

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Adoption from the grass roots: The reason its just not happening yet!

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As someone who has been extremely involved in the cryptocurrency space the past 2 years, and 6 as an investor I want to point some things out.

  1. The whole space is full of egomaniacs

When I first got involved as an investor in 2013 buying 2.5 BTC I thought very little of where it could go. It was a small tight group of believers back then. As the space evolved you found there were more and more Craig Wright’s. What I mean by that is there were tons of people with massive egos who did not care what others said. It was okay before 2016-2017 as I wasn’t so closely following what was going on.

Once I got involved in the space more quit my job and went deep into the space I noticed something. I saw a tom of egomaniacs pretending they really knew what they were talking about, I saw people acting like they knew everything about everything and I saw CEOs who had little to no hope other than big talk and hopium.

In my opinion, we need more humble leaders in the space, people who truly care about it more than making as much money from people as they can. People who aren’t showing off watches during a hash war that ended with zero winners, and led us into the longest crypto winter…

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The Impact of SEC Regulation and the Crypto Bear Market on Ethereum

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Ethereum
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Way back in June 2017, it was beginning to look inevitable that the flippening would occur and Ethereum would take over the top spot of cryptocurrency market caps. With smart contract capabilities and an order of magnitude more potential applications than Bitcoin, everybody was keen to jump on the Ethereum bandwagon.

Of course, a lot has changed since then.

The speculation-fueled bull run that culminated at all-time highs in late 2017 for Bitcoin and January 2018 for altcoins was unsustainable. Talk of a global paradigm shift appears laughably premature in hindsight.

Today, prices have collapsed across the entire market, with Ethereum itself breaking below $100 last December after all-time highs of $1.4k just 11 months prior. Although a mini-recovery has ensued in early 2019, the situation continues to look bleak and the reputation of cryptocurrencies for the general public is still far from stellar.

Prominent blockchain expert Peter Du, the founder of Du Capital, recently explained the crux of the problem, saying:

“Cryptocurrencies, which were once the new darling and dream of investors have now taken a backseat, given the current crypto blizzard. To be sure, maintaining hundreds of billions of dollars in valuations supported by unsecured coin issuance was…

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