Topic: CHINA!!! - page 5. (Read 3508 times)
The only thing that China has influenced is the number of new coins. Chinese can still trade cryptocurrencies. They just can't invent and issue their own currencies. This sort of simplifies the choice, huh?
China never ban cryptocurrency transactions via blockchain rather what was banned is scam ICO to be done in China The incessant chunning out of ICO every day is now alarming. They are only protecting their citizens and their country name and integrity.
The People's Republic of China is just banning scum ICO each pretending to being running a block-chained facebook/google by simply copy and paste others' codes.
sometimes you just have to ask yourself whether encryption is the solution to all problems in the world!
China never ban cryptocurrency transactions via blockchain rather what was banned is scam ICO to be done in China The incessant chunning out of ICO every day is now alarming. They are only protecting their citizens and their country name and integrity.
How the fate of cryptocurrency in your opinion after china forbids cryptocurrency?
Will this be the end of cryptocurrency
China had a small impact its not the end of the world.... and its just for ICO's they still have trading markets, however look out for this : Tokens soon to be delisted by Yunbi: QTUM, GXS, EOS, ANS, DGD, 1ST, GNT, REP, SNT, OMG, PAY, LUN, VEN Will this be the end of cryptocurrency
For now, China only ban ICOs. But it wouldn't be a surprise if the government impose further rules and regulations on the general Cryto ecosystem. The result will be unpredictable as it would be good or bad depending on the level of control imposed.
Crypto economy begins to take more and more in the world economy. I do not think that prohibitions on the use of crypto currency will benefit the state in the medium and long terms. It seems like China just want to protect their people.
If in my opinion it is not a big deal because there is little friction from the Chinese government that does not like big capital owners to develop business in the country but with the negotiations that will be discussed may emerge the best deal and certainly no one will be harmed. in the future there are still many ico made with the agreement of the Chinese government first before distributing it.
For now, China only ban ICOs. But it wouldn't be a surprise if the government impose further rules and regulations on the general Cryto ecosystem. The result will be unpredictable as it would be good or bad depending on the level of control imposed.
Crypto economy begins to take more and more in the world economy. I do not think that prohibitions on the use of crypto currency will benefit the state in the medium and long terms. It seems like China just want to protect their people. 
This situation resembles the 2008 financial crisis in some ways:
Before 2008 fin crisis, financial innovations were encouraged by regulators. Asset backed securities and derivatives were hot among banks. Then came the Lehman brothers crash etc. Then the overall regulation turned to very conservative. The No.1 priority is safety, not innovation. Banks were not allowed to participate futures trading altogether, not even for hedging.
History may repeat itself with ICO. The regulators have not been very tough on innovation. Unfortunately, 1. bad players pushed their limits. they run fake projects, pump&dump, manipulate the market ... 2. bad guys from traditional scams jumped in ICOs 3. too many ppl are involved. Reported 100k+ in China. Some projects (Such as EOS), the price went down too much and ppl lost $$ and filed complaints. There's a real threat of protests. That's the last thing China wants.
In the long run, this is probably a positive thing for crypto's, blockchain, ICO etc. It's good to get rid of the bad guys.
Before 2008 fin crisis, financial innovations were encouraged by regulators. Asset backed securities and derivatives were hot among banks. Then came the Lehman brothers crash etc. Then the overall regulation turned to very conservative. The No.1 priority is safety, not innovation. Banks were not allowed to participate futures trading altogether, not even for hedging.
History may repeat itself with ICO. The regulators have not been very tough on innovation. Unfortunately, 1. bad players pushed their limits. they run fake projects, pump&dump, manipulate the market ... 2. bad guys from traditional scams jumped in ICOs 3. too many ppl are involved. Reported 100k+ in China. Some projects (Such as EOS), the price went down too much and ppl lost $$ and filed complaints. There's a real threat of protests. That's the last thing China wants.
In the long run, this is probably a positive thing for crypto's, blockchain, ICO etc. It's good to get rid of the bad guys.
It seems that the Chinese government wants to protect its people's money from ICO is unclear
because we know many ICOs only take money without realizing what they offer through white paper but not executing their projects.
only personal opinion
because we know many ICOs only take money without realizing what they offer through white paper but not executing their projects.
only personal opinion
For now, China only ban ICOs. But it wouldn't be a surprise if the government impose further rules and regulations on the general Cryto ecosystem. The result will be unpredictable as it would be good or bad depending on the level of control imposed.
china may have the huge factor, but crypto is the world
It was a good time to buy cheap crypto!Now market goes up. And some regulations in ICO will not be superfluous.
china dont have anything power to end crypto world
How the fate of cryptocurrency in your opinion after china forbids cryptocurrency?
Will this be the end of cryptocurrency
China not forbid cryptocurrency they just bans ICOs. I don't think that will be the end of cryptocurrency, after China report to bans ICO some cryptocurrency are massively down. But it did not take a long time everything is back to normal.Will this be the end of cryptocurrency
China bans Google, Facebook, 2nd children, and now ICOs.. who fucking cares. It'll stop some sheep, but not the lions.
Cryptocurrency users are many. This should be the beginning of a sense of togetherness in the struggle for cryptocurrency. we must jointly strengthen the foundation on this cryptocurrency. I'm sure many cryptocurrency users are clever and master of regulation and laws regarding finance or capital.
You are just a part of people who panic, and say bad things here. it will not affect anything. Everyone has come to believe that China is just scared. The Chinese government is just panicking power in the financial field is replaced. All just sit and be patient, and keep calm.
China has banned ICOs, not crypto currencies in general. The government itself is experimenting with blockchain solutions and has partnerships with blockchain projects. It is also prohibited for investors from China to invest in ICOs. It was not announced yet, but one can assume that ICOs are allowed again, only regulated. Other countries will certainly follow. In the short term, it will be negative; in the medium and long term, serious investors will benefit from regulation.
That's what i think too. Although China has made the decisions to ban ICOs but they have done it for a good cause. The short term it is having a negative effect by resulting in huge price drops in most of the cryptos but now its been 2 days and we can see the market recover.In the long run i think this decision will benefit a lot of people. Not only the investors but also normal users will benefit from this situation. There will be less ICOs but good ones and people will invest in them because of their potential which will result in a positive way and benefit everybody. More people will start investing in ICOs because of the regulations and hence the better ICOs will have a trend in the market.
China has banned ICOs, not crypto currencies in general. The government itself is experimenting with blockchain solutions and has partnerships with blockchain projects. It is also prohibited for investors from China to invest in ICOs. It was not announced yet, but one can assume that ICOs are allowed again, only regulated. Other countries will certainly follow. In the short term, it will be negative; in the medium and long term, serious investors will benefit from regulation.
That's what i think too. Although China has made the decisions to ban ICOs but they have done it for a good cause. The short term it is having a negative effect by resulting in huge price drops in most of the cryptos but now its been 2 days and we can see the market recover.In the long run i think this decision will benefit a lot of people. Not only the investors but also normal users will benefit from this situation. There will be less ICOs but good ones and people will invest in them because of their potential which will result in a positive way and benefit everybody. More people will start investing in ICOs because of the regulations and hence the better ICOs will have a trend in the market.
What they are banning is the following behavior:
Now maybe some ICOs will turn out to be less scammy than some others, but in my opinion just about all of them are scams. The only ones who may be even somewhat legit are the ones who limit their fundraising to reasonable levels, but those are far and few between and even some of those are probably scams just designed to look more legitimate.
This has little to do with cryptocurrencies other than the fact that all these ICOs have been using crypto as a side run around rules already in place for organizations to raise capital, but it had to be stopped sooner or later. I suspect in a few months we will be seeing a "Who's behind bars this week" type of thread going when some of these ICO organizers are (hopefully) brought to justice.
- Come up with an ICO name and possibly some random business problem
- Copy/Paste whitepaper from another ICO, make few changes to make it look unique
- Copy/Paste website from another ICO, make few changes to make it look unique
- Copy/Paste few pictures of obscure people off the Internet (with or without their knowledge), make few changes to names job titles (madeup or real)
- Hire marketing team for few $K to spam next great ICO on all social media and relevant forum avenues
- Pay few dozen shills to visit aforementioned social sites to proclaim it's the next great thing since Bitcoin itself, perhaps even better!
- Sitback and profit$$
Now maybe some ICOs will turn out to be less scammy than some others, but in my opinion just about all of them are scams. The only ones who may be even somewhat legit are the ones who limit their fundraising to reasonable levels, but those are far and few between and even some of those are probably scams just designed to look more legitimate.
This has little to do with cryptocurrencies other than the fact that all these ICOs have been using crypto as a side run around rules already in place for organizations to raise capital, but it had to be stopped sooner or later. I suspect in a few months we will be seeing a "Who's behind bars this week" type of thread going when some of these ICO organizers are (hopefully) brought to justice.
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