Topic: I am an Chinese, and I know what happened, and I will buy more crypto assets. - page 3. (Read 2682 times)

This is what I have been expecting to see around here since the controversy about the Chinese government and bitcoin wanting to see at least a Chinese to tell us the situation of things over there and to know the effect of such bans even in the country but from the response, it seems its the people outside China, are the ones mostly hit and even reacted negatively to the issue of this ban while the people who understood the attitude of government has come out to say this. @Op do well to update us on the forum on how far the implementation of whether its a rumor or grapevine on the issue of this ban that has ravage the crypto-space.

It's good to see that not all the chinese population is brain washed into being a government cuck and can actually take decisions on their own.

If everyone on china was like you, china would make a strong statement to the world: "You can not scare us, Bitcoin will win." The government would be on panic as they see the price not reacting to their ban, they would feel powerless. This is how we win, do not fall for the fear and just hold, and we will defeat all governments that want to end BTC or otherwise control it.

This is always what thr chinese governmrnt is doing, they say somehting and do something else. I think this time, china is lookig at the prices of all cryptocurrencies after they banned them, it is true that the markrt fell down a bit, after theur announcement. No doubt, china can influence the market, but of only small percent, if the people from china still favors altcoins it means that they have access and the sites are not completely banned, i think this is a way, the chinese govrrnment is showing the world, if they ban cryptocurrency it will, so we need to listen to them, but it is not happening it only affected a small percentage. I think the saying still is true, what the chinese bans, you buy.

Absolutely agreed with you there, visionfar. Government always mention that "Civilians come first", but most of the time, they talk the talk, but do another thing in the end...

Just keep on your faith and be strong

I was waiting to hear an opinion on insider. And when I finelly got it I see that everything is going to be good with Chineese bitcoiners. All those negative news about ICOs made the price drop down, but by the dynamic of the price's changing I see that there are many people who are buying bitcoin on the current minimum, just like you do. I suppose China will concentrate on mining now and that is going to be good for them, no scamm.

yes. I think everything that the government of China is doing under the regulations that prohibit ICO activity is only temporary and I think it's only to control something that if not released the regulation will be a problem for the government.

yes, alternative cryptocurrencies seems more like a gamble right now

I am not Chinese, and I don’t know what happened, but I will still buy more and more bitcoin when I will be able to buy them. But not any other crypto currency, just bitcoin, because I don’t believe in any other crypto currency.

May be many of them are scams and have no legal position in the world, and if I invest in it I may lose all my investment. So only bitcoin to earn more and more money.

Thanks for your explanation, I read it carefully and understand. I am agreeed that ZECs is better than ETHs, because ZECs are all create equality.
Your logic is very clear that BTC is not ICO.
Thank you very much.

I have an idea personally,
to this case, as the government, can have some more professionalism, to a targeted identification of ICOs one by one, to judge which is fake, and which is legal, and ban or punishment the illegal part. and let the lawful release.
If people can not distinguish, then the government can help people, after all, the government has great data resources and administrative resources.
If so, will be better than baned all.
And will also raise people's sense of risk. And the credibility of the government.

The legality of competitively proof-of-work mined coins are not at all afflicted by recent events.

So prior rulings about the legality of Bitcoin are irrelevant to the issue about ICOs.

The difference compared to prior Chinese regulatory actions, is that this appears to have been a coordinated event amongst regulators in many nations.

And the ETH ICO madness was entirely out-of-control and risking naive investors’ funds in a plethora of scams. It became a new Xerox copy ICO every day scam. The nations had no choice but to act. And surely the SEC and other nations will follow. I think Asia acted first because their governments are less democratic and more authoritarian, so they can act quicker. The democratic nations will follow because their regulators have the same responsibility to their citizens. The wheels just move slower in the democratic nations. Asia is finely oil machine that is more efficient than the West now.

The issue is not exclusive to China. China, Canada, Russia, South Korea, and Singapore have warned about coming enforcement action. The SEC already recently warned in the context of The DAO. Obviously the recent events are coordinated between regulators in all these nations including probably the SEC.

Click here for a longer explanation of why proof-of-work mined tokens are not investment securities and thus not afflicted by recent events.

The above link also discusses Ethereum’s ETH, Ethereum ICOs, and others.

It is also very important to note that pre-existing ICO-issued tokens, are illegal to trade and can be delisted from exchanges. Your home country can make it illegal for you to trade them. The above link explains this is more detail.

Please stop spreading the incorrect information, implying that ICOs will come back or that pre-existing ICOs can still be traded. Most people do not want to go to jail or suffer fines. Even if they regulate ICOs, these will only be tradeable on registered exchanges and will not be spendable as cryptocurrencies (i.e. not allowed to be traded decentralized). Thus these new regulated ICOs will not be very useful. It will not be the same.

Many shady exchanges and their largest traders are likely to suffer fines and threats of criminal prosecutions. Today is only the beginning of a massive global crackdown. The gears may move somewhat slowly but over the coming year there will be massive changes to the crypto ecosystem. All the hard-headed will have their fingertips burned up to their armpits as necessary for authorities to stop the rapid proliferation of investment securities scams.


There will be no greater fools to sell the ICOs to, when they are not legal.

The ICO scam model depends on selling to newbies who come in and believe these 100s of Xerox copy ICOs each have a chance to become the next Bitcoin or Ethereum.

Nobody is going to speculate on illegal ICOs, because there will be no mass market for them, thus no way to hype them.

And it is not just USA and China that are banning ICOs. Same as was the case for FATCA (a USA only law), it became enforced in every country in the world, because the USA threatened to penalize every nation that did not comply.

We’ve already got Canada, Russia, China, Singapore, South Korea, and the USA warning about ICOs.

You’d have to be blind to argue this is not a critical mass.

Hope that something like this will happen because we don't really want to get into fear of loosing assets due one governments rules and regulations being applied to other countries as well. Who knows to just show the power of government another country might just stand against crypto world and let us down with our investment. But as everyone is saying china is not country of trust, they always have been unstable in the rules and laws etc. So I'm pretty sure people in there country will revolt against this cyber law. 

In my understanding chinas government banned ICO only and not cyrpto currency as ICO are expanding faster there are alot of scam ICO were investors are been fooled. Jack Ma one of a billionier and one of a prominent person in china have invest over 2 million dollars in ICO and buying coins. Because as i see he knows that crypto currency will be give more profit than investing in a bank. We can say that chinas decisions of banning ICO have a huge impact in the bitcoin and altcoin price but it doesnt mean that chinese people will stop investing and mining crypto. If top 20 altcoin will decrease around 25 to 30 % i will buy them...

Everythings will happen. I will not all-in crypto world. Just invest the appropriate proportion of the portfolio for crypto assets.
Don't all in. take 5%-10% percent of your Investable assets for it. If you need, some gold in 5-10% percent are good too.
then you will sleep well.

(btw, The stock marcket around the world are not the good choice.)

I have no ICO altcoins. I only keep BTCs and ETHs and ZECs......

Should you decide to keep some cryptoes if there are government sanctions?
Because according to news circulating that ico is banned in China.

Gov has baned all the ICOs. but I would say he do nothing to BTCs/ETHs/... true crypto coins market yet.

Everybody can track the main big exchange in China in anytime:
OKCOIN.CN
HUOBI.COM
and
BTCCHINA.COM

If someday there are no BTC - RMB tradings on the web pages, then the bad things happens.

But I think that the possibility is very small.

China are trying to Seize the high ground of the competition of human civilization.
I know It's a very far road,
but  In the name of God,
All the people live in happiness and peace, it is God loved.

And we will trust.

I agree with you on pretty much everything you said there. Crypto is still extreme young and is yet to face a lot of obstacles but in the end bitcoin and crypto in general will come out on top.

Yes I think as what I've read they are only shutting ICO's because there are plenty of scams that are coming out every time there are ICO that is on going and there is nothing wrong with that, they are just trying to protect their peoples investment. After this bad news I know everything will be back to normal again.

.
You are truly a resilient cryptocurrency advocate...
And i know you will soon be rewards for your efforts.
While other Chinese people are already dumping you are still buying. Good luck to you.
Just be careful not to be caught, your government has already said it is illegal so please be careful with what you do.
Hopefully the ban will soon be lifted.

I want to hug you my little Chinese friend. If we engage together, we can destroy this government together in the winning way of crypto currency. We all quite sure that blockchain technologies take the world under its control. And we'll be rewarded at the end, just be patient.