Topic: South Korea Bans ICO's/Your Opinion - page 3. (Read 852 times)

For me regulation is ok this is to weed bad and useless ico, some of these icos cannot come out a useable products or services and these countries are now becoming aware of this issue, we need good ico that can give me real products services and innovation just like waves and ethereum.

the market is still conducive and tend to be stable. most likely will not have a major effect on the growth in bitcoin and other crypto. this is how people learn from the mistakes that happened yesterday.

For sake of conversation, I agree that banning certain cryptos is unnecessary
and a waste of the time for governments, but (1) why isn't it easy for a government
to enforce against an ICO? (2) Why do you equate the two different systems
(Crypto-currencies & ICOs) as being the same? (3) What is your overall logic
and reasoning, and is it associated with economic theory or legal theory?

Please explain.

You support ICOs ban but refuses to ban yourselves from promoting ICO projects on your signatures... that is hypocrisy my friends —  hypocrisy is annoying sometimes.


Other Examples of Hypocrisy:
Asking your government to ban the Internet b/c it encourages lots of fake news but refuses to stop promoting your numerous businesses on the Internet.
OR
Asking your government to ban alcohol but continue to consume Champagne.

Well the truth is that the bans are totally unnecessary. Any government with foresight should've realized that ICO is the future. These things cannot be stopped. If you cannot stop rains from falling there is no way you can stop Crypto & it's ongoing revolution.

I do not care about them, BTC is not affected and I believe BTC still will not be unstoppable.
this is only temporary and everyone please sit and calm down, everything will be fine.

I tend to agree, I think that there are far too many scams happening in the ICO space and if that continues it will be bad new for crypto in the long run. A little sense and oversight might add a degree of legitimacy to the whole affair, any amount of regulation will still not really take away from the inhereent anonymity of BTC or its junior peers.

Nah it depends on a lot of things, from one side banning ICOs is great, because a lot of scams come up, where people just share their money to others and no one can find a thief On the other hand ICOs like a kickstarter in crypto world, where projects are able to get some funds. I think ICOs should have some regulation.
The price of bitcoin wont be affected by such news, because there are not so many ICOs from South Korea though

Banning ICOs for good would be bad, but if the ban is only temporary and they come back with appropriate regulation to help stablize the crypos space, then the ban is a good thing.  I think that is what each of the countries which already banned or will be banning ICOs is planning to do.

The distrust situation is obvious and these prohibitions are natural as long as some people are trying to be rich on the short side. and %99 of all coıns are bad / freak projects.

but Korea is always pursuing more serious and precise solutions in this regard.

it is such a silly approach to potentially the most disruptive way to raise capital in the history of the world.

LET'S BAN IT - gimme a break, dinosaur.

Figure out a way to streamline it and protect investors, sure. Ban it? No.

Is it true ? south korea is one of the supporters of ICO and is a country with large bitcoin user presentation. so if they do banning bitcoin activity. I guess it will have an impact on bitcoin.

Fantastic! It's a scam fest that has been going on for far too long now. ICO's essentially are a great way to attract capital if done properly, but in a market that till this day is still massively under-regulated, it has been abused by con artists in such a way, that I can only be glad that something is being done to stop this. Setting up an ICO and investing a few thousand bucks to make it all look nice and crisp is insanely easy, where after that you can walk into a Ferrari dealer to order yourself one of world's most desired sport cars. It's beyond insane how empty projects in some cases manage to collect millions of funds in just a matter of 24 hours. But then again, why do these scam ICO's manage to successfully obtain millions of funds? Yes, it's the greed and stupidity of those delusional people blindly investing into everything they can find.

There was a < $200 dip when the rumor broke.... and once the official news dropped, price immediately rebounded and nearly retested the highs. It seems like the market definitely doesn't perceive the Korean domestic ICO ban on the same level as the Chinese bans/rumors.

Price is remarkably resilient considering the Russian ban rumors and Grayscale Investments pulling their NYSE application. Altcoin market still look like crap, but I'm impressed overall with the bulls here.

The only ICOs they've banned are Korean domestic ones. Can anyone name a single Korean ICO? I can't. All the usual junk will continue unabated so this is a non issue though no doubt traders will attempt to capitalise on it while it lasts.

Although I think ICO's should definitely end for obvious reasons, I don't see measures like these as necessary... The market would eventually evolve and realize that most, if not all, ICO's are bad and would eventually stop supporting them.

I don't have anything against regulation. I don't like scams, so if that helps reducing the possibility of the common people to lose money because they were tricked, I all favor to it. I hope that to much regulation doesn't create inequity though. The good thing about ICOs is that is easier for anyone to create a project and ask for investments. If the community believes it, then they have a real chance of succeeding in it.

Yep. The same with China, the government just ban ICO not Bitcoin, there are a lot of people missunderstood about this case, Korea and China just ban ICO cause there are so many ICO projects and not all of them are good, some projects are scam so the government made a decision that they will ban ICO project in their country to protect investors and their capital. This thing can affect to coin market a little bit but I think everything will be fine, although China has big effect to cryptocurrency market but they only can affect to it in only few days so I think Korea will not be a big problem

IMO, if a "crypto-currency" or a "crypto-asset" is able to be banned or directly
regulated by some means, whether by the issuer, miners, devs, or protocol, by
a government or any enforcement arms, it should be done so immediately. Not
because governments are good and are helping people, but it must be done so
because the illusion must be revealed. Bitcoin was created to reveal how the
world economic system was parasitic against the average person who has
become a commoditized device. Your debt is your worth in their system now.

What Satoshi created was a very specific system type designed to circumvent
controls, either from outside or inside the system. All "crypto-devices" that
follow Bitcoin can imitate his specific design to be able to survive and
circumvent, just as Bitcoin does, and that was Satoshi's gift to the world. The
ability to survive in your own system type, without the outside world to be able
to easily stop you. Satoshi gave us true choice, when any other possible choice
was outlawed and enforced against.

If ICOs or other "crypto-devices" wish to take parts and aspects here and there,
which mix a match different ideas of Satoshi's system in order to create a new
device for a new purpose (ex: ICOs) they better understated they are walking
a dangerous line, where they will be easily capturable and made responsible.
Because things like Bitcoin now exist, doesn't mean all like devices are immune.
ICOs are very base and simplistic when compared to what Bitcoin does.

Free markets and all the economic talk of self regulation and other such things
are illusions and irrelevant when compared to the Bitcoin Network. ICOs and
the belief that they will be an important part of the economic system in the
future is an insult to what Satoshi created. Bitcoin ignores and negates all
current economic and legal systems. ICOs by their current design rely on
legal entities and thus will need to conform, and thus why they are being
"banned" or "restricted" in certain countries.

Very basically, ICOs are scams not only because most of their current uses
is blatantly a scam facilitation device, but because the backbone infrastructure
behind the ICO device system is itself a scam or an illusion. They are the
emperor who has no clothes right in front of your eyes, yet people think
the free market or self regulation is acceptable here as a outside subsystem
for the ICO. That is very wrong. The truth is that is a very flawed system.
ICOs are a falsehood and is leading people astray from true choice and
freedom. ICOs are a manifestation of complete ignorance of what Bitcoin
has archived and how it achieved it.

ICOs must be squashed, because they are able to be squashed.
If they are squashable, they are a lie in our ecosystem and must be
orphaned off like all invalidity.

Since there is a lot of unworthy projects it is normal for a rich country to ban ICOs, it is not becuase they hate it, its just that ICOs are now being out of control, having hundreds of project a week is not a good thing, yes it somehow brings job to others who support it but it doesn't make the coin worthy. South korea just wanted to protect their people from joining a economy that has nothing but unfinish promises and missions.

It's not exactly a ban. I think it's just a way to discourage scrupulous scammers from collecting easy money. What I see is after they study crypto ICOs, they will insist on a lot of documentation and stuff.