Bitcoin Forum

Rumour is ICOs get banned, and maybe Exchanges who do ICOs get their bank accounts frozen (and shut down), but this has not been confirmed so far its mostly rumours , tho there is also tweets by a chinese exchange confirming it, and by a chinese bank who said they got an order to freeze an exchange account. However there was also at least two chinese exchanges that said they got no shut down notices and still operate as normal.

This is my summary of the news today. Anyway my question, do you have any chinese coins? And will you hold them?

I do not hold any chinese altcoins, at least not any that I'm aware of. I'd worry a little bit that China will pass new legislation that isn't too great for altcoins in general.
Does anyone know of some specific altcoins that were developed in China? Couldn't even think of one to be honest.

I guess the number one this question refers to is NEO.... I don't have any, but soon I may get them cheap...

I don't think there are any popular China only coins, but there are many coins that originated from China.
I think Chinese government is supportive for development and research about cryptocoins in china.
And that strategy and enthusiasm among youth makes china a great place for cryptocurrency.

Read this from Forbes https://www.forbes.com/sites/kenrapoza/2017/09/06/chinas-ico-ban-doesnt-mean-its-giving-up-on-crypto-currencies

NEO, Walton, HShares, Binance Coin off the top of my head.

I'm a firm HODLer when it comes to whitepapers originally written in my first language. For NEO, I did +120% then sold because I honestly didn't understand the crypto regulation ecosystem in China and I still don't. After the first news of the ban on Monday we get this list from Caixan of ICOs that are banned, but it's all in fucking Chinese. The time it takes for me to hear news from China is after the majority of stakeholders in these Chinese Cryptos have already begun to react, which makes me uncomfortable.

I don't hold any Chinese Altcoins as of the moment but with the blood both I am seeing right now I think I am buying some of Chinese Altcoins because I believe that even with the issues right night Chinese people will always find ways to make their coins rise.

According to this press release from PBOC it is official.

http://www.pbc.gov.cn/english/130721/3377816/index.html

Not sure if it was previously just rumours, but paragraph 3

III. Management of Related Platforms Shall be Strengthened

From the date of release of this Notice, any so-called platform that provide trading and exchange services for coin offering shall not engage in exchange businesses between legal tender and token or “virtual currency”; or engage in proprietary trading activities or trading as an central counterparty of tokens or “virtual currencies”; or provide pricing services or act as information intermediary for tokens or “virtual currencies”.

As for the trading platforms with activities that have violated laws or regulations, the financial regulatory authorities will notify the administrative department in charge of telecommunications to adopt measures such as shutting down its website platform and mobile APP, notify the administrative departments in charge of cyberspace to remove its mobile APP from the APP store, and notify the business administration department to revoke its business license.

Is stating that any exchange allowing ICO trading shall cease operations effective immediately. cnLedger is also reporting that Chinese exchanges who previously allowed ICO trading are now delisting ICOs

I do not hold any chinese altcoin, but instead I think I want to buy it when it goes down like this. maybe chinese coins will find a way to rise

I still hold altcoin china neo and will keep it until all altcoin prices improve and go back up. I'm sure the Chinese regulation that ban ico is only temporary. Very unfortunate many people who experience panic sell.

Still save and hold your current assets and you will benefit in the future, do not you regret it later.

when you say Chinese altcoins, and if you mean like an altcoin that is deeply rooted in China and essentially is centralized, that simply means that you should not be even thinking about it. that is a centralized altcion not worth even considering let alone investing or holding.
and it doesn't matter what currently is going on in China!

altcoin may be decentralized, but the team is not, they have the nationality and live in a country, we say a altcoin is Chinese usually means the team mostly come from China, and you must accept the Chinese law as long as you live in China

I was thinking of buying neo before but later changed my mind. This could have been the only China coin that I could have investing in. But I will advise anyone hold China coin to keep holding them in other to see what will happen. Remember China government was on okcoin, btcc and others Chinese exchangers this time last year but now all those attacks are over.

I would stay away from Chinese coins until this all gets figured out; you never know if you'll get caught up in another new law they decide to impliment. There are plenty of other coins to invest in.

Until the problem with the regulators will have resolved and everyone must leave from there and back to the western coin with a promising future. There are so many coin in this time.
If the bad news about the china will continue and that can be a terrible thing to hold em all.

I do not have a Chinese NEO coin or any other, but I believe that while the government or the National Bank of China has not made an official statement about the events related to the crypto currency, from Chinese coins, one should stay away. There are many coins that deserve attention and whose rate has now fallen very much and can and should be bought, as soon they will rise sharply in value.

Taking a brief look at my portfolio, I don't have any chinese altcoins but some of the coins I hold was affected by the delistings of chinese exchanges. If I have some chinese altcoins like neo, I will keep holding them in spite of rumours.

Despite the rumors, I keep NEO. I believe that Chinese regulators will only provide a framework for new ICOs and this will have a positive impact on China's crypto assets.

There is nothing that they Chinese Government can really do once the ICO is launched to a network. If all the nodes for the coin is hosted in China then they could just move the nodes to another location and that would allow the network to stay alive for a very long time. The only thing that people are worried about is that they can’t purchase the coins from certain exchanges that are built in China.
It’s kind of funny to see people over reacting about the news about China yet they don’t realize that most exchanges aren’t even from China.

Heard of China Coin ?
It was created before i got here..
There is nothing wrong with crypto-currencies in China.
What they have a problem with is... ICO's

You see stupid morons, ICO's are not digital currencies.
They are scam "tokens"
Which is why the govt of China agrees with me and what i have been saying about them all along.

If I had such coins sure I will sell it as soon as possible. We can't just ignoring the recent news from China. They are (Chinese) have a big role in cryptocurrency, so if something isn't good coming from this country, the world of crypto will be affected as well?

Investing in Chinese altos is risky because it can get very high and fall off very quickly, which makes the market unstable and I sold all NEO to invest in other altcoins because of me disappointed about the Chinese market

I am not holding any chinese coins right now. Right after Antshares becomes NEO, I tried to stay away from that altcoin. The price was a little higher that it should be. At least from my own point of view. For those who are holding chinese coins, if you are already losing big, then better hold until recovery.

I am doing the same. I also believe that Neo will fly high once Chinese regulators provide clear regulations regarding cryptocurrency trading. I have been holding my Neo in the wallet ever since I bought them. Though I bought most at $8.5, I kept adding and averaged around $15 and I start to get nervous once the price drops below $20.

my current focus currently from now on only for bitcoin and other major altcoin so i don't hold chinese altcoins however chinese banning for exchange and ICO is very annoying me because since few days all of cryptocurrencies price was down even bitcoin almost dropped again to $4000

This is really bad when China prohibits everything in the cryptoucurrency market and constantly makes all altcoin sharply reduced in a short time. I hope the market will recover next week because I lost 30% of my assets.

I don't hold any more. Just wait for the shock wave to settle before doing anything. Long term I still think regulation is good for the overall crypto market and China will reconsider its policy just like 2013-14

I do not have a Chinese coin, if I had a Chinese coin I would still keep it, I think this news tidbit is just a momentary game that will go away and return to normal as usual again, I think that's just my personal opinion.

Just as you predicted, there are some recent news from China that they will close some local exchanges to stop trading with CNY, and the market is panic, so almost all the coins dump a lot.

Yes, i have NEO and YOYOW coin. And yes, i am holding.  :)

I'll just leave this here --- NEO is not a Chinese altcoin, although the creators are from China, it doesn't mean that it is a Chinese coin. It is like saying that ETH is a half-canadian-half-russian coin and so with other cryptocurrency projects. Stop being unreasonably stupid.  

So far as nationalistic cryptocurrency matters, I only see USDT at the category.

it's surprising how many alts i've never heard of that are big in china. since that's the case i have zero interest in getting in on something that's dependent on a market that's soon to be deader than a dead thing. they're not gonna make the transition to non chinese markets when there are enough other coins out there.

Thankfully I am not holding any Chinese altcoin even though my altcoin portfolio completely red . I not sure it's just rumour or it's confirmed but market really reacting got news.

Sorry but I didnt mean this in any negative way. I am still not sure tho what is wrong with saying its a china/chinese coin just as i would consider waves a russian coin as their team is from russia.

I also find it interesting that Neo is not dropping below $20. People still trust it.

No. I sold neo and qtum.

Jesus you people are fucking stupid.
ICO = SCAM.
What part of that don't you understand yet ?
No matter how many times you are told you plug your ears.

Let me recap..

ICO's are not crypto currencies.
China had no problem basically with LTC or China Coin or Bitcoin for 8 FUCKING YEARS !
Get it dumb fucks ?
They are cracking down on ICO's.
Because they are fucking scammy.

Get this morons.. there was crypto BEFORE ICO's  :o
I know shocker right ?
It's true.

ICO coins are not digital currencies.
They are scam tokens used for profit on exchanges.
They are simply a perverse warped mod of Bitcoin.
They are not currencies.

China did not ban crypto currencies idiots.. they banned ICO's  ::)

no. Please don't invest on China Ico anymore.
First - Many China ICO is just scam.
Second - China gov do everything seriously. Look at their great firewall.

I do not have one of those Chinese altcoins but I do am looking at the news and see where this will go.
This can be a huge impact to the world of crypto currencies so we must be aware of this.
If this rumors dont have something to back it up then we must not believe it for now and spread it. Might make a fake news and the impact will go back to us by means of price getting down.

I don't have any chinese tokens but I have some NEO if it counts. The price of NEO is already half of when I bought and I'm still in confusion to buy or to sell. So, currently I'll be doing neither and wait to see how things turns out.

I held a bit or a small amount of NEO last time. But when i heard about the news, i  obviously panicked and went on panic selling. I felt stupid when the prices rose, but still I don't regret it. I do not want to take any chances when it comes to something that i invested my money in. Because anything can happen. When i reach desired profit, and i see problems on the coin, i sell.

Did you guys learn anything here yet ?
China banned ICO's ....not crypto-currencies.
Get it ?

ICO=SCAM.

I dont think that its a good idea to hold some Chinese Altcoins right now. So much FUD is going on in China, theyre banning ICOs und planning to regulate them more in the future. I think they we see a correction and after that theyre going to moon! Bit that will take a bit time. Remember, China has done the same thing back in this year. After their FUD bitcoin mooned

I would give room to considering an ICO purchase or two. As much as I don’t like ICO’s there is still a few nice once that are worth more than the money. I think of it like a kick starter campaign, that is only for the ones that actually have a purpose in crypto.
If the ICO is going to have things that another coin already made then there wouldn’t be anyone special trying to purchase it and the ICO will fail. If more people don’t purchase any ICO’s then most of the ICO’s here should fail.


All in all, just make sure that you don’t run out of Bitcoin lol

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Why not? Cryptocurrencies are decentralized and therefore, there is no way the government can figure out what is happening in our wallet. Therefore, banning can cause a big negative effect, but everything is just temporary. Coins will soon be back and developers know the way to deal with it

scroll.. noob account.
scroll.. noob account.
scroll.. noob account.
scroll.. noob account.
...  ::)

I don't have any need for noob opinions on CHINA + ICO's  :D

I decide to not hold any altcoin, whatever they got name except for bitcoin. For me altcoin is only aternative way to grow up my money and bitcoin is the main goal. Even altcoin become scam/ dump, I still have bitcoin. Rumors/ news is only about speculation, sometime right and also wrong. Prepare your mind about rumors/ news, if you don't want to get negative impact from that just leave the coin as soon as possible. Thank you.

The latest news btw was that china officials said the ICO BAN is only TEMPORARY (i guess until they bring some sort of regulations/rules for ICOs) , but this news seems to get buried pretty much. However all is rising again so I guess some know.

a lot of people  are holding NEO but with the recent crash many are reconsidering and checking for other options/alteratives. Personally I think solutions will be global and not regional, therefore it doesn't make a difference whether we are talking about China or any other Country

I do hold Chinese altcoins and the ban doesn't scare me in anyway, and I don't think that it will affect the already established coins in any ways. I hold Neo and willing to buy some Qtum since I really believe in Chinese coins. Enlighten me if I am missing something here, I thought the ban was for ICOs not established coins.

yes. because a few days ago I heard rumors that the ICO ban taking place in China is only temporary. so I believe the state of cryptocurrency will return to its original state in a few months.

I like altcoin! China had many coin! I still buy and hold China coin because over 1/6 popular in this ! Thank

I will not keep them until I know for sure it's just a rumor, because no one will know the psychology of other investors. Look at NEO, it showed us how that happened

There is no point selling those altcoins. I believe that they can still be used and improved in the future. BLockchain is based on the decentralized system and it is hard to find out who is using the cryptocurrency. The government, therefore, can not do anything. Even if they ban, they can not arrest people because they do not have any information or clue about the cryptocurrency

I agree ICOs aren't cryptocurrencies. Yet I believe that they may potentially not be scam and become eventually solid coins. Waves doesn't look like scam and is doing fine, for example.
Anyway, I guess even if we agree icos are scam and there's nothing wrong about Chinese cryptocurrencies, one should still think carefully before investing in one, because even a good coin might get a lot of its price from icos which are built on it.