Bitmain and Cryptocurrency Market Predictors Censored by WeChat

Bitmain and Cryptocurrency Market Predictors Censored by WeChat

China’s ultimate messaging app WeChat has cut off Bitmain and other accounts related to cryptocurrency.

Bitmain’s official WeChat account: antminersale is not available on the platform as of yesterday, the 10th of September. But another Bitmain account: antminer_official is still up as of this time.

WeChat cites Bitmain’s antminersale account has infringed on conditions for its terms of use. Bitmain has not obtained the proper credentials or licenses; this is according to the messenger app’s search redirection notice.

Those who were also affected by WeChat’s recent crypto-related account censorships include Delphy (a decentralized oracle and market predictor), and Goldcoins (an account that delves in cryptocurrency market analysis).

This is not the first move WeChat has done to restrict or ban accounts associated with virtual money. In the recent past, it has suspended the accounts of CoinDaily and Huobi News. WeChat Pay has put to a stop to payments made to any transactions linked with crypto. Over thirty accounts have been terminated up until this time.

With China’s tightening ban, some of its local cryptocurrency traders and exchanges have found ways to bypass restrictions. China’s citizen crypto traders have resulted to the use of VPNs and some exchanges have moved their business operations out of the country.

Related news

Crypto Community Roars In Response to China’s Scathing Ranking of Bitcoin

Bitcoin Hammered In CCID Ranking The China Electronic Information Industry Development (CCID) seems to be back at it again with (yet another) crypto ranking. If it wasn’t bad enough already, it apparently got even worse in the March installment, as the group bashed this industry’s beloved Bitcoin (BTC) with a hammer. Bitcoin plunged from 13th to 15th, as it was smashed in the applicability department. On the other side of the proverbial coin, EOS, Tron, and Ethereum got a nice boost, as their creativity and basic-tech points gave them a hefty tailwind. In the middle lay projects like NEO, Steem, Lisk, Stellar, among others, whose ratings were neither spectacular nor harrowing. Crypto Community Up In Arms While some TRX, EOS, and ETH maximalists (of which there are many) were in love with the ratings, some were skeptical. The Block’s Mike Dudas joked that the Chinese government and FlipsideCrypto must be using the same algorithm, drawing attention to a debacle in which the latter entity bashed BTC and praised the smart contracting platforms mentioned above. The Chinese government and @flipsidecryptod must be using the same algorithm 😂— Mike Dudas (@mdudas) March 23, 2019 Joseph Young, a leading crypto journalist, opined in a recent CCN article that the aforementioned ranking should be a mere reference at best, rather than a “definitive ranking of blockchains.” He adds that the CCID ranking scheme naturally gives more brownie points to DApp chains, as its criteria focused on technology, applicability, and creativity. As Bitcoin is the world’s first blockchain, with a limited premise and raison d’etre, it’s standings in the aforementioned ranking scheme would be rather low. But, that’s not to say that BTC doesn’t have some semblance of a use case in the real world. Far from. In fact, an argument has been made that the cryptocurrency is the world’s best digital asset, and the only one that is truly needed. Even if it isn’t the end all and be all of blockchain use cases, it would be hard to doubt the traction Bitcoin has gained. Just look to institutions for some evidence. The few mainstream firms that have looked into this space have focused their efforts on Bitcoin and Ethereum, more the first rather than the latter though. Fidelity Investments, for one, launched its custodial offering and trade execution platform for Bitcoin first, as it weighs the addition of other digital assets. Bakkt, too, will center its efforts around the flagship crypto. While the ICE-backed platform has been delayed many a time, it has been made clear that a physically-delivered BTC futures vehicle will be the Atlanta-based project’s first venture, as Bitcoin would get the most demand and love from its expansive clientele. It’s a similar sight around the rest of the industry. Sure, CCID’s rankings may be entirely fair for the list of standards it is enlisting, but it would be hard to deny that BTC is still booming. And at the end of the day, who’s really listening to the Chinese agency’s quips about the cryptocurrency space anyway? The topic is effectively banned in the nation… Photo by FuYong Hua on Unsplash The post Crypto Community Roars In Response to China’s Scathing Ranking of Bitcoin appeared first on Ethereum World News.
Ethereum World News

BitMart Labs Hosts China Digital Economy Global Innovation Forum, Dedicated to Boosting China’s Blockchain Market

On March 24th, BitMart Labs, an international blockchain incubator launched by BitMart Exchange, will host the China Digital Economy Global Innovation Forum and BitMart One Year Anniversary Convention in Shanghai, China. Sheldon Xia, Founder, and CEO of BitMart Exchange will attend the forum and speak on BitMart’s past success. Co-hosted by HPOOL, China’s largest hard drive mining pool, BN Capital, a well-known blockchain investment institution, and, the new generation of finance information platform, this event features keynote speakers, BitMart Club opening ceremony, and the introduction of US Security Token Offering (STO) service launched by BitMart Exchange. This global forum The post BitMart Labs Hosts China Digital Economy Global Innovation Forum, Dedicated to Boosting China’s Blockchain Market appeared first on CCN

China’s Controlled and Streamlined Governance Shows How Bitcoin Stands for Freedom

China, the world's most populated country is also a technology freak and known for its high level of technical incorporation in their daily lives. The country is so technology mingled that of the total 2 billion smartphones, two third of the total amount is used in China. Water Resistance might be a necessary feature for […]
Bitcoin Exchange Guide

Hot news

By continuing to browse, you agree to the use of cookies. Read Privacy Policy to know more or withdraw your consent.