ICO is officially banned in China !!! - page 13.

Liang Yao

newbie

Activity: 4

Merit: 0

Quote from: rocketbits on September 08, 2017, 04:34:34 AM

Quote from: Liang Yao on September 06, 2017, 01:11:01 AM

I managed to translate the joint statement into English word by word and tried my best to make it as close to the original meaning in Chinese as possible.

Please check it out at: https://medium.com/@YaoLiang/statement-on-prevention-of-risks-in-fundraising-through-token-offering-issued-by-seven-government-49d8cd8292f9

A big applause to you dude! You really have done a great job there. Keep doing such work. I click the clap button but a dialog box appeared asking me to log in. Don't mind but I am a little bit introverts. BTW, I like the idea of clapping.
I respect China's decision as ICOs were causing disturbance in financial order. What can we say more than that.

Thanks for your nice comments. I will keep doing this because I think it is important for non-Chinese speakers to read the source of the news, the authentic document issued by the China authority (word by word) so that you can understand what exactly the Chinese government said. It is weird that people are commenting on something that they never had the chance to read...

Tszunami98

full member

Activity: 812

Merit: 124

I am not sure what to think nowadays, there are so many news about China and their ICO ban or exchanges ban that i really dont know what is true and what is not. I dont really need to stress myself over this because it really doesent affect me in any way but at least i am training myself at filtering the fake news from the real ones.
I will let a picture here and you can take what you want from it:

Phillionex Project

newbie

Activity: 34

Merit: 0

I really cant see the rationale behind this move..but then anything is possible in china..its crazy though..does not make sense

Caladonian

hero member

Activity: 1302

Merit: 540

Quote from: BartS on September 08, 2017, 10:27:04 PM

It was a matter of time, in fact I’m a little surprised that this did not happen before, maybe the Chinese are very busy on something else, even some member of the forum were asking for solutions about a way to stop or at least reduce the number of scam icos appearing in the forum and it seems that the Chinese government is going to help with that, since less money is going to flow to icos.

yeah they only care about their people and for sure they will manage to regulate some solutions with this concerned as I personally wanted
to see how they will interfere with the crypto currency market and how they can stop those scammers to keep enjoying with scamming their
people, it will affect the market but for sure true believers will find a way survive with this situations.

Sadnu

full member

Activity: 210

Merit: 100

More news. Just yesterday the announcement was issued by the Chinese regime to stop all Chinese exchangers. So this is now the reason why the price of bitcoins is falling.

It is also a good thing because it comes from people who manipulate the prices of altcoins and bitcoins. Give us a break in the market. And gradually it will rise

datodota002

full member

Activity: 224

Merit: 101

DoublerHunter

hero member

Activity: 2590

Merit: 644

Quote from: bustomi on September 08, 2017, 08:25:12 PM

I don't understand Chinese language, so i think the point is it will affect global markets and recently i hear that btc exchangers also get banned there...

I don't think that it is a legit news that the exchanger are banned in China because if that is true then there will be a huge price fall in bitcoin and the market of almost all the coins including altcoins will just drop in price with a very huge dip and that will confirm the news but as we can see there is no huge dump in the market so i think everything was just adjusting their self with a new policy in china.

BartS

sr. member

Activity: 980

Merit: 255

It was a matter of time, in fact I’m a little surprised that this did not happen before, maybe the Chinese are very busy on something else, even some member of the forum were asking for solutions about a way to stop or at least reduce the number of scam icos appearing in the forum and it seems that the Chinese government is going to help with that, since less money is going to flow to icos.

bustomi

full member

Activity: 224

Merit: 100

I don't understand Chinese language, so i think the point is it will affect global markets and recently i hear that btc exchangers also get banned there...

machis

newbie

Activity: 5

Merit: 0

I think that despite the ban, people will still be interested in this topic

Pejoh Asu

sr. member

Activity: 1484

Merit: 254

I think this is not a strange thing, although china banned bitcoin I think it will not have much effect for cryptocurrency. everything will be fine because many countries are not ready for accept cryptocurrency.

rocketbits

full member

Activity: 532

Merit: 101

Quote from: Liang Yao on September 06, 2017, 01:11:01 AM

I managed to translate the joint statement into English word by word and tried my best to make it as close to the original meaning in Chinese as possible.

Please check it out at: https://medium.com/@YaoLiang/statement-on-prevention-of-risks-in-fundraising-through-token-offering-issued-by-seven-government-49d8cd8292f9

A big applause to you dude! You really have done a great job there. Keep doing such work. I click the clap button but a dialog box appeared asking me to log in. Don't mind but I am a little bit introverts. BTW, I like the idea of clapping.
I respect China's decision as ICOs were causing disturbance in financial order. What can we say more than that.

aeternus

sr. member

Activity: 686

Merit: 250

Quote from: dongosquad on September 06, 2017, 04:31:53 AM

well, the news is quite appalling. after another big country, now China follows. many have linked the news to the issue of declining bitcoin prices.

Bitcoin price is fine, if anything Ethereum should be the most affected by these news since many coins are based on that, bitcoin has nothing to fear, only a ban on cryptocurrencies will make the price of bitcoin go down permanently and even then bitcoin will survive.

Qunenin

hero member

Activity: 966

Merit: 506

Quote from: machis on September 07, 2017, 07:09:54 AM

Why do you think that happened in China?

I think only scammed ICO are banned or how it will go about in the future. Steps will be taken to make sure Scam ICO cant be run in the first place and only legal ICO can run. This can be done by registering the ICO through some authority who will check the status and give the grantee that ICO is legal or maybe take some money as a backup so that no one cant even think of scam.
Need to be patient and see how things turn out in the future.

stompix

legendary

Activity: 2912

Merit: 6403

Blackjack.fun

Quote from: machis on September 07, 2017, 07:09:54 AM

Why do you think that happened in China?

Communist party, total control, party members or relatives that got scammed, idiots in charge of laws...or simply put... because it is China.
Respecting the laws in China is impossible and that's why nobody does. That's why nobody cares abut them 'banning" something for the x time last years.

Quote from: Bilbo Baggins on September 06, 2017, 05:11:12 AM

Great decision from China, although bitcoin took a hit in the last couple of days, seems like the effect wasn't permanent and will help regulate ICO.

They don't want to regulate it.They just want to stop them.
And nobody with a brain will invest in an ICO accepted enforced and controlled by the government.

machis

newbie

Activity: 5

Merit: 0

Why do you think that happened in China?

Bilbo Baggins

newbie

Activity: 42

Merit: 0

Great decision from China, although bitcoin took a hit in the last couple of days, seems like the effect wasn't permanent and will help regulate ICO.

gunhell16

hero member

Activity: 1666

Merit: 453

its such a good and bad side theres so much good investors and developer in china ... and yes there are so many freaud and scam .. but protecting them into that ?? we all know that some chinese people are involve in scamming too ...
but we are still lucky in bitcoin communtiy because as china close their doors to bitcoin .. russia and a one of the biggest bank in the woorld step up for crypto currency and it affect the market so good ..

Bezobraznike

sr. member

Activity: 1274

Merit: 261

★Bitvest.io★ Play Plinko or Invest!

Quote from: dongosquad on September 06, 2017, 04:31:53 AM

well, the news is quite appalling. after another big country, now China follows. many have linked the news to the issue of declining bitcoin prices.

I follow bitcoin price every day, and it is recovering as you can see it for yourself. You could also read that crypto market lost a lot
of billions in past days and that was the reason of the drop, you can inform yourself here on forum, and many other places.
I do not wish to copy/paste someone, but comments that said that bitcoin was officially banned few times and look where it is now
reflect my opinion. Many people here are saying that and with truth we need to agree.

dongosquad

full member

Activity: 588

Merit: 101

well, the news is quite appalling. after another big country, now China follows. many have linked the news to the issue of declining bitcoin prices.

Topic: ICO is officially banned in China !!! - page 13. (Read 11280 times)