Topic: ICO is officially banned in China !!! - page 14. (Read 11280 times)
Most of the traders and miners of bticoin in general cyripto currency have been mining by mostly Aisian communities. Chinese authorities trying to regulate this market but they also are not sure how possily they succesful on this. Immidiate reaction of this movement by the btc investors or miners were cause to prices go down a bit but let's wait for the second phase will it be positive or negative I am looking forward to get this information.
All currency issuing countries are afraid to loose their monopoly regarding money. They will watch how the blockchain universe grows and will do everything in their power, to keep it in check.
Funny how they accept bitcoin and traded it in their market now they're banning it? Seriously the Chinese central bank should really make up their mind they seem to be half asleep if you dont like bitcoin why build mining farms of it and mine with 50% hash power. China is considered the one of the strongest miner of bitcoin. Well it seems that not all government or business man their are a fan of bitcoin that's why now it is banned. Maybe the person behind the ban is an fiat investor lol
I think no need to worry because china banned ico. Only china and american prohibits ico.more many other countries that permit ico.
And that news only affect the btc price for 2 days ,and now i see btc prices also have started to rise again
And that news only affect the btc price for 2 days ,and now i see btc prices also have started to rise again
All currency issuing countries are afraid to loose their monopoly regarding money. They will watch how the blockchain universe grows and will do everything in their power, to keep it in check.
I think this has less to do with controlling blockchain technology, and more to do with cracking down on scams. Supposedly, the PBOC was looking into 60-odd ICOs before dropping this bomb on the industry. I think we all have to admit: while there is some legitimate innovation and potential behind some ICOs, and while they are a great avenue for crowdfunding... there are a lot of scams and snake oil out there.
Regulation was inevitable. I think this will end up being like "China banned Bitcoin" in 2014.
I think it's a policy of the Chinese government to protect the citizens from fraud with the ICO. As we know there is many ICOs became a fraud, and China's acting quickly to make regulations on it. Nothing bad can happen if every ICO developer records their name on the official government list to become a legal company. CMIIW.
Yes even i have feel the same now a days there is lots of scam ico is happening recently i participated in some scam ICO its too embarrassing its good move from china . At least there should be regulation if ICO developer records their name in government. ICO should be banned here too. There are many newbie started ICOs, I really doubt who will give the money to these idiots.
Why ban them outright? If you look at the Chinese regulations, they would have prohibited the Ethereum crowdsale outright. Say what you will about Ethereum, but it wasn't a scam, and the crowdsale used quite minimal funding (vs. today's ETH market capitalization) to make a truly innovative platform.
That's not to say there's any world-changing dapps at this point. But I don't think there's any comparison between the Ethereum ICO and scams, and I don't think such crowdfunding efforts should be banned outright.
I think the SEC is taking a better approach. A blanket ban just stifles innovation and sends innovators elsewhere, and deprives citizens of good investment opportunities. I suspect they are just issuing somewhat of a moratorium until they are able to pass more sensible regulations.
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
Please check it out at: https://medium.com/@YaoLiang/statement-on-prevention-of-risks-in-fundraising-through-token-offering-issued-by-seven-government-49d8cd8292f9
bad news from china makes a lot of people frantically selling cryptocurrency assets , on that occasion, I took advantage of this good moment to buy cheap coins.
long before this news, china has never tried to reject Bitcoin circulating in china but see reality now. maybe the china government just wants to protect its citizens from Scam ICO.
long before this news, china has never tried to reject Bitcoin circulating in china but see reality now. maybe the china government just wants to protect its citizens from Scam ICO.
ICO should be banned here too. There are many newbie started ICOs, I really doubt who will give the money to these idiots.
Oh my gosh! This is really shocking! I never really thought that this could ever happen to any country! Specially china where a lot of people loved crypto currencies! Plus all the rumors that cryptos are getting widely accepted in that country. Damn! Who would've thought? Well, maybe people there over did it and started abusing the things crypto currencies could do that's why the government needed to take action. I just hope there ain't no hidden agendas with this decision.
Of course there is a hidden agenda, I think the Chinese government is realizing that many people are taking their money out of china by using crypto and that they are using ICOs as a way to avoid paying their taxes, so the Chinese government is doing this to protect itself and not the investors.
https://medium.com/@crowdholding/china-ban-on-icos-not-all-doom-and-gloom-74daf814209c
Amazing article regarding China and ICO.
Everyone should read it.
Amazing article regarding China and ICO.
Everyone should read it.
I am completely agreed with chines government.
Now it is proper time to take action against fake illegal ICO's.
Now it is proper time to take action against fake illegal ICO's.
I have to admit, that many ICOs were just fake rip offs. Let's see, how this will turn out.
Chinese companies can still hire puppets in EU countries and sell ICO in those EU countries.
This won't work. In the end, they will have to sell their ideas in China.
Moreover, most of the demand for ICOs came from China. So hiring puppets in EU countries will not be able to replace this demand.
Chinese companies can still hire puppets in EU countries and sell ICO in those EU countries.
ICO organizers can structure their companies outside of Chinese jurisdiction. But that doesn't solve the bigger issue: no matter where they are legally organized, they cannot offer their ICO tokens to Chinese residents. That's a huge investment pool (which is already heavily involved with cryptocurrencies) that is being removed.
At the same time, I think Chinese residents will do just as US residents do. They'll buy a VPN service and participate in ICOs that way.
Price of Bitcoin already regrow up, nice.
I hope this notice doesn't damage the crypto world
I hope this notice doesn't damage the crypto world
I think we all saw this coming, or at least we should have. The ICO craze was out of control. I think this is healthy for the space and will help to root out some bad actors and scams.
Chinese companies can still hire puppets in EU countries and sell ICO in those EU countries.
So that is the main reason why the price of Ethereum falls a little bit though. But if this is really true then China is just making a great move in protecting their citizens to fall for some ponzi ICO's. As long as Cryptocurrencies is not ban in China then we are all good.
Not only Ethereum but it affected the whole crypto market especially bitcoin and others just followed it. There's a domino effect when such actions and news are being created and broadcast like this. But the transactio never stops, the market will recover and the ban will be uplift when they've got set of rules about ICO already. 
China is well known for being very strict when it comes to things on the internet. The abuse we have seen when it comes to ICO's is truly disgusting and China probably wants to protect their citizens. Banning is always harsh but maybe this will send a message.
I think they are wrong in taking action against the people who make ICO and who have joined the ICO in the vicinity, because the benefits what can be done cameraman China forbid people to use the internet and make ICO, maybe I think of this ICO project that can be used as money fields and reduced unemployment there. with them following a prize campaign from the project itself.
So that is the main reason why the price of Ethereum falls a little bit though. But if this is really true then China is just making a great move in protecting their citizens to fall for some ponzi ICO's. As long as Cryptocurrencies is not ban in China then we are all good.
Jump to: