Topic: How will China's decision affect the market in your opinion? - page 2. (Read 1052 times)
I believe, for now this will not have much influence. Because I think, ICO does not have a direct connection to the price movements of bitcoin. So that there will be no negative impact on bitcoin
I think china doesn't make too much a big part in cryptocurrency backing now, sure banning ICOs restricts local development but its still easy for them to get out and open another hub in other countries...
I think because we are not seeing adequate patronage and support from China just like Korea is even affecting the rush after China banned ICO. The population of China is massive and that can actually turn around a products fortune.
I think china doesn't make too much a big part in cryptocurrency backing now, sure banning ICOs restricts local development but its still easy for them to get out and open another hub in other countries, previously the gold rush make tons of short businesses for mining and now they are dumped hard and the buying power is somehow equivalent with korea, too many uneducated person involved and they wont get back nor care with the wind is over. Its only happen when market start raising and they would pour money in
Before 2017 China was the world's largest bitcoin user, but the government of China banned bitcoin and crypto making the biggest bitcoin users become Japan, now the Chinese government legalizes bitcoin and this will have a big impact.
September 09, 2017, 01:39:30 AM
Apologies for starting another topic on the same subject as I missed this one. If China bans the exchanges from operating then that must just be an admission from the Chinese authorities that they are incapable of handling the issues and regulating it effectively.
September 09, 2017, 01:35:33 AM
Hey,
I read this article in a blog that i follow on china ICO ban https://fxpmarkets.blog/2017/09/05/central-bank-of-china-all-virtual-currency-offerings-must-be-stopped-immediately/
How do you think it will affect the market in the long term ?
No doubt the Chinese decision will affect the market for accepting and regularization of bitcoin. And I think that every country should accept bitcoin as their legal and regular crypto digital currency and then take some serious steps for promoting and easily usage and to control all other scams in the shape of crypto currency. It will help the people a lot and they will freely deal in bitcoin. I read this article in a blog that i follow on china ICO ban https://fxpmarkets.blog/2017/09/05/central-bank-of-china-all-virtual-currency-offerings-must-be-stopped-immediately/
How do you think it will affect the market in the long term ?
September 06, 2017, 07:00:24 AM
what China does is no longer affecting the market that much. it was proven that China does not have any power over this market at all. they just are a small part of a bigger world.
the news however is a different matter. the news can cause panic among investors. and it has been doing just that for a very long time. of course this year the power of news has also diminished as PBoC closed the exchanges.
the news however is a different matter. the news can cause panic among investors. and it has been doing just that for a very long time. of course this year the power of news has also diminished as PBoC closed the exchanges.
September 06, 2017, 06:55:26 AM
since the "China's decision" were to eliminate all the scams from the market you can be sure that the effects of it will be great on the market. because it is the first step of many towards having a much healthier altcoin market instead of hundreds after hundreds of scams which call themselves ICO and prey on the gullible.
My thoughts exactly. Let's face it and admit the fact that it is easy to create ICOs and most likely are scams. I think China did the right thing. It's not a good thing that many were victimized by those fake ICOs. It will lead to lost of trust in cryptocurrencies and those people who are yet to explore crypto world will be wary and might not believe in any crypto forever. And that's not a good thing for everyone.
September 05, 2017, 03:42:20 PM
We'll see a panic period and then people will reinvest in the drop period and I see crypto climbing again soon enough 
September 05, 2017, 03:39:07 PM
since the "China's decision" were to eliminate all the scams from the market you can be sure that the effects of it will be great on the market. because it is the first step of many towards having a much healthier altcoin market instead of hundreds after hundreds of scams which call themselves ICO and prey on the gullible.
I hope so that China's decision to ban ICOs have positive affect. I think there has been a flood of ICOs in the recent past and most of them have been scam and for that to stop there should be some regulations no ban is required though but if the government make some rules and regulations for ICOs so as to save the people from being robbed of their money that would be a welcoming move I think. 
September 05, 2017, 03:37:09 PM
I think China is trying to act reasonably. Let's be honest, 99% of ICOs are just outright scams. Of the remaining 1%, 99% of those are bad ideas. Assuming the news is real, China is acting to stop people from losing their money by investing in something they don't understand. After all, if you understood crypto you would not even touch alts.
Here is a typical way an ICO tricks users into thinking they are "investing".
Step 1. Create "Stupid-Coin", bitcoin's soon to be replacement.
Step 2. Pre-mine 1 million coins.
Step 3. Sell 1 coin to your buddy for $3.
Step 4. Advertise your new ICO! And mention that it has a current market cap of 3 million dollars!
(market cap = cost per coin x number of coins)
ICOs are all B.S.
Here is a typical way an ICO tricks users into thinking they are "investing".
Step 1. Create "Stupid-Coin", bitcoin's soon to be replacement.
Step 2. Pre-mine 1 million coins.
Step 3. Sell 1 coin to your buddy for $3.
Step 4. Advertise your new ICO! And mention that it has a current market cap of 3 million dollars!
(market cap = cost per coin x number of coins)
ICOs are all B.S.
Yes, China is doing the right thing at the moment because today's ICOs are full shit!
I can't believe why some people use such opportunity of creating ICO to scam others.
Believe by banning ICOs in China that will help straighten the value of bitcoin in the long run.
September 05, 2017, 03:30:56 PM
I may look at this incident to be in a positive way that ICO's must change or else someone will. I think more people in China will get more knowledge to know first before investing their money and this is a good sign of prevention in their part and there is nothing to worry about, losing your hard earned money is frustrating so this move is a must.
September 05, 2017, 03:15:55 PM
Nothing will happen. Bitcoin is not forbidden in China as I understood. And look at the price of Bitcoin. Its up again.
This. Bitcoin is still safe and Chinese goverment won't ban it. They know that Chinese miners are the leading force that gives China an edge in the cryptocurrency world.
ICO ban is actually something I was expecting, panic on the market is only temporary and with no more ICO chinese investors will focus on existing coins, bitcoin included.
This will only strengthen the position of bitcoin in the long run. I am not worried at all. We have a bright have future ahead gentlemen.
September 05, 2017, 03:13:42 PM
I think China is trying to act reasonably. Let's be honest, 99% of ICOs are just outright scams. Of the remaining 1%, 99% of those are bad ideas. Assuming the news is real, China is acting to stop people from losing their money by investing in something they don't understand. After all, if you understood crypto you would not even touch alts.
Here is a typical way an ICO tricks users into thinking they are "investing".
Step 1. Create "Stupid-Coin", bitcoin's soon to be replacement.
Step 2. Pre-mine 1 million coins.
Step 3. Sell 1 coin to your buddy for $3.
Step 4. Advertise your new ICO! And mention that it has a current market cap of 3 million dollars!
(market cap = cost per coin x number of coins)
ICOs are all B.S.
Pretty good analysis on the matter. The thing you forgot to mention is that there is crazy money to be made so people who are already into crypto will keep hoping for their diamond to show up and pay for all their losses. That's the danger of it. Here is a typical way an ICO tricks users into thinking they are "investing".
Step 1. Create "Stupid-Coin", bitcoin's soon to be replacement.
Step 2. Pre-mine 1 million coins.
Step 3. Sell 1 coin to your buddy for $3.
Step 4. Advertise your new ICO! And mention that it has a current market cap of 3 million dollars!
(market cap = cost per coin x number of coins)
ICOs are all B.S.
September 05, 2017, 03:08:55 PM
The investing in ICO is dangerous by itself. It is not a secret that ICO is a bubble atm (most of them). Sooner or later people will incest more wisely and it will bring significant changes. The china's ico ban may only do it faster (as they plan) but everything seem to be fine now.
September 05, 2017, 03:08:41 PM
I think China is trying to act reasonably. Let's be honest, 99% of ICOs are just outright scams. Of the remaining 1%, 99% of those are bad ideas. Assuming the news is real, China is acting to stop people from losing their money by investing in something they don't understand. After all, if you understood crypto you would not even touch alts.
Here is a typical way an ICO tricks users into thinking they are "investing".
Step 1. Create "Stupid-Coin", bitcoin's soon to be replacement.
Step 2. Pre-mine 1 million coins.
Step 3. Sell 1 coin to your buddy for $3.
Step 4. Advertise your new ICO! And mention that it has a current market cap of 3 million dollars!
(market cap = cost per coin x number of coins)
ICOs are all B.S.
Here is a typical way an ICO tricks users into thinking they are "investing".
Step 1. Create "Stupid-Coin", bitcoin's soon to be replacement.
Step 2. Pre-mine 1 million coins.
Step 3. Sell 1 coin to your buddy for $3.
Step 4. Advertise your new ICO! And mention that it has a current market cap of 3 million dollars!
(market cap = cost per coin x number of coins)
ICOs are all B.S.
September 05, 2017, 02:57:33 PM
Most of the daily trading volume comes from the china so when news of crypto will break out in china it can have direct impact on real market like the recent news regarding ban of ICO. Sooner or later all those chinese shorter who have sold crypto out of fear have to buy again which will fuel another bigger bull run.
yes that is right and we have a very good example of it as we can see that the price of bitcoin came down from 4900$ to 4000$ which is in fact a big decrease in the price of bitcoin, but now we can see that the market is now recovering its position and hope that very soon it will start trading in a normal mood. 
September 05, 2017, 02:07:20 PM
it will be a very big effect in the market of crypto ..
china is one of the biggest investors they have so many brokers and good in developing sitees..
they are really brilliant in business and great in counting numbers ...
we feel the impact of china days ago when all the coins got dump... but still thanks to RUSSIA and there bank for having the crypto stronger now as they release the news on supporting and have the fist ICO to release on their country
china is one of the biggest investors they have so many brokers and good in developing sitees..
they are really brilliant in business and great in counting numbers ...
we feel the impact of china days ago when all the coins got dump... but still thanks to RUSSIA and there bank for having the crypto stronger now as they release the news on supporting and have the fist ICO to release on their country
September 05, 2017, 02:00:24 PM
Most of the daily trading volume comes from the china so when news of crypto will break out in china it can have direct impact on real market like the recent news regarding ban of ICO. Sooner or later all those chinese shorter who have sold crypto out of fear have to buy again which will fuel another bigger bull run.
September 05, 2017, 01:42:51 PM
chinese people will buy cryptocurrency and ICOs in foreign websites.
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