China banned ICO's not Bitcoin idiots! - page 5.

chocolah29

full member

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Quote from: doedz on September 06, 2017, 09:05:01 AM

Quote from: reputation on September 06, 2017, 08:39:21 AM

China not only ban ICO but also the tokens distributed in this year, the government support blockchain technology but ban the ico which will cause public events and financial crime

This is just a precautionary measure, the Chinese Government is only afraid of people making a deceptive investment.
Everything is fine, and we do not panic.
BTC has returned to normal, this issue loads everyone busy.

Once again, this is why ICO banned in China and not BITCOIN itself. Chinese government deem to necessary to ban the crowd sales since a lot of fraudulent happened and without further act it can be more rampant.

It's sad that fake news are bought and believe easily, this issue was old as last year and I don't know why media keep on digging this. Perhaps they don't have anything to publish so even a rubbish news will do now.

1NV3ST0NM3

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Activity: 420

Merit: 110

Quote from: Kakmakr on September 06, 2017, 07:31:09 AM

A friend I introduced to Bitcoin, phoned me today asking why China banned Bitcoin. He quoted a article in his local news paper, who quoted Bloomberg : https://www.bloomberg.com/news/articles/2017-09-04/china-central-bank-says-initial-coin-offerings-are-illegal

The mainstream media has no f#$%^ clue what the difference between ICO's and Bitcoin is. Anyone can create a fancy webpage and a few PDF's with information on their ICO offering and then sell tokens for it.

Initial coin offering (ICO) is an unregulated means of crowdfunding via the use of cryptocurrency. The term is often confused with 'token sale' or crowdsale, which refers to a method of selling participation in an economy, giving investors access to the features of a particular project starting at a later date.

Please phone your local newspapers and explain the difference to them, because ICO's are not Bitcoin!

People will do anything to sell a few extra news papers or to receive a few extra clicks on their websites, even if they publish total rubbish. They should research a subject before they publish garbage like this.

It just shows you how unreliable information can be that are being published in the media. This might even be done on purpose. ^grrrrrrrr^

Edit : Latest garbage from Bloomberg : https://www.bloomberg.com/gadfly/articles/2017-09-06/seventy-eight-billion-reasons-why-bitcoin-s-the-new-gold < 100% biased and Bullshit >

This confusion remained for quite a long time in the bitcoin community and then I was really surprised that what are the members of community really doing...Like don't they really know the difference between ICO and bitcoin. Or are they just listening to rumors and not researching at all by themselves.

Anyways not to dig deeper into this conversation, lets just see what was the imoact of China banning ICOs. According to me and what I collected from my research, this ban really went in vain, and proved very ineffective bearing no positive results what CHinese economists might have thought.

For more details, read this article: https://bravenewcoin.com/insights/china-ico-ban-proving-ineffective

Mideafan

newbie

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The global success of bitcoin and other virtual currencies is due to the infiltration of financial investors and large investments into a new market. However, the Chinese government started restricting the transaction by bitcoin. The central bank of the country has banned all ICO operations. The Chinese financial authorities not only stop all ICO transactions but also refund previously collected amounts and prohibit transfers. account transfer by bitcoin. China expressed concern that many ICO financial fraud. The ICO is risky for money laundering or terrorist financing because of the anonymity of transactions and the ease of transferring large amounts of money from one place to another in the short term. However, China is also quite cautious against This is because the country is one of the fastest growing markets in the world. At the same time, the establishment of legal regulations on virtual currency relations hasn't been taken into account by the government. Virtual currency is considered virtual goods and exchange of encryption must be registered with the National Telecommunications Bureau, which is also considered a step forward in China.

maitexisi

jr. member

Activity: 146

Merit: 1

I think China's choice to ban ICO is right that 90 percent of ICO in China is fraud. It's easy for investors to lose their money. But bitcoin is still popular in China, and many investors prefer to buy and store it at a low price.

phelbaby

member

Activity: 434

Merit: 10

The ban of cryptocurrency is a very big hit on the crypto world ,it could be a good you to promote bitcoin as a major cryptocurrency in there country.

Ajadey4

newbie

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Merit: 0

You have captured it. We lots are living at a time the mainstream media has changed. The era of online reporting or media means people are desperate for more clicks, the more the money, hence, the apparent disregard to any journalism ethics as far as it will bring more clicks on the site. I have read this news of China and Bitcoin being banned, then you see another that it's not. I hope for the sake of those of us here, China hasn't banned it.

norachuks

jr. member

Activity: 331

Merit: 3

Many people still don't know the different between bitcoin and ICO and needs to be educated about is so that rumors like this that makes people panic unnecessary will stop

darkangel11

legendary

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Merit: 1335

Don't let others control your BTC -> self custody

F... China again! Every time there's an uptrend someone somewhere posts something negative about China and idiots dump. It's not even about them not being able to read. They should finally get it into their heads that Bitcoin is long dead in China. It was dead the moment they banned exchanges, then they also banned mining, now there was some info about them blocking crypto forums on their censored version of the INternet and now ICOs.
It's so easy to start a panic, but people will learn. We are not apes (at least most of us), they won't be able to do this indefinitely.

P.S. You haven't introduced your friend to BTC well enough, OP. Wink

bassbity

sr. member

Activity: 1092

Merit: 284

Everything will be back to normal and I think this is only temporary because the big ICO projects are very dependent on China, on Chinese investors, it is no secret that large investors mostly come from China. Without China the Bitcoin market and the ICO market will lose a lot potential investors.

iamike

jr. member

Activity: 314

Merit: 1

This is quite unfortunate that the Chinese government has ban ICO's. Am believing that it will not extend to other cryptocurrencies like bitcoin. Thee government should reconsider ICO's again because it has good things to offer.

nikeel

newbie

Activity: 22

Merit: 0

No need to insult everyone, geez ...

Sandus_Cryptolover

jr. member

Activity: 482

Merit: 3

Quote from: albert11 on September 06, 2017, 10:54:38 AM

Yes, I also want to explain to the newcomers here in the forum. Many newcomers make a lot of talk about it as other fools also believe in it.

Before you believe you read it first well. because of that you will know the answer. You will not immediately notify that you do not really know the full details. ICO and bitcoins are different. Also, you will find some answers to google even here in the forum you can read

You wouldn't blame new comers anyways as most are motivated either positively or negatively based on the news they hear or read without prior confirmation to ascertain authenticity of the information.

James andrew

newbie

Activity: 224

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I hope that now Bitcoin price again rise now this is the good sign and this is good affect I hope that this time Bitcoin not dump

megasynk

newbie

Activity: 69

Merit: 0

I think the overall interest in ICO's will decrease overtime. There are too much scams only wishing to gather peoples money promising to develop a great project. It's better to invest in already existing projects.

Moiyah

member

Activity: 630

Merit: 20

We are aware that most of that ICO's owner and investors are mainly Chinese. And we are also aware that most of it were just scams, just collecting moneu and run away without dignity. Sadly, it just so happened so many times that is why China decided to get rid and eradicate of the ICOs and other crypto related infos in the internet.

Zebulun18

newbie

Activity: 90

Merit: 0

Possibly the China's prohibition on ICO's strength be a purpose behind a sudden fall in the cost of bitcoin alongside the vast majority of the computerized monetary forms yesterday. Today the cost has begun to increment by and by giving trust in a greater value pumping to occur in the forthcoming days.

Kakmakr

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Leading Crypto Sports Betting & Casino Platform

Quote from: RealSohan on August 26, 2018, 03:09:07 AM

I think China has an economic impact. The current bitcoin has reduced prices. So the Chinese government banned Bitcoin. Not just Bitcoin, but all types of digital currency have been reduced. So China is facing financial threats.

This is the kind of thing that tip me over! Have you even read the f$%$%^ content of this thread or did you just read the heading and even got confused by that? We are talking about this exact same thing, where people and news media distort the news by posting nonsense, because they do not care to read or to do proper research.

I should simply report people like this for shitposting. Roll Eyes

RealSohan

member

Activity: 197

Merit: 10

Hello Bitcoiner

I think China has an economic impact. The current bitcoin has reduced prices. So the Chinese government banned Bitcoin. Not just Bitcoin, but all types of digital currency have been reduced. So China is facing financial threats.

avoxosuccesful

jr. member

Activity: 252

Merit: 3

wow am just getting this update and am so confused, cause i don't know why the chinees whose got lots of ICO no have come to banned ICO? and that singular act will also be what is affecting bitcoin and other currency,making us to face bad market at the moment. it seems to me that the chinees are manipulating this for there own benefits. well? lets just keep our fingers cross and see how it goes

qiman

hero member

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Merit: 504

There is a lot of misconstrued FUD coming out of China and some is true, but a lot of it is also fabricated news and inflated and distorted in order to just bring the market down and prices of Bitcoin and other altcoins into crashing mode. This is done repeatedly, as is done with the KOREA FUD also and they are using this to manipulate the minds of the traders and holders so they can all get their hands on cheaper coinage. Always try to find out the real FACTS from various sources about what FUD comes out of China, what is true and what is false, to safeguard yourself in the future.

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