Bitcoin Forum

China banning ICO had to happen, many countries crypto ICOs either fall in the too hard basket to ban or they are currently below regulators radar.

Without a doubt it won't happen forever and sooner all later all ICOs will be banned, and for good reason. For crypto thats a huge positive if we can filter most of these scams out, not that there isn't other altcoin scams, but banning ICOs is a huge step in the right direction.

what is positive ?
today not only ico coin is down price, all coin down price include bitcoin price is down price too

My advice for you, read all post first and then write your opinion after that. Don't just read the title and ask something which has been answered.
You are asking why OP saying this is a huge postive, and here is the answer

Seriously?

Bitcoin is due to correction. There is no way it will go up forever. You have to understand it.

We predicted that correction weeks ago in this forum.

Yes, they're all down. Have you looked at the percentages? Bitcoin is down 10% since its peak a few days ago; Ethereum is down 12% just today, 25% overall in the past few days. Part of that is just a natural correction after a bullish run, and part of it is panic over the ICO ban and the general trend that will follow it. China's ahead of the game on this one, a lot of ICOs are even worse than the Useless Ethereum Token - just as useless, but dressed up enough to sound appealing to the people investing without doing research or seeking professional advice.

Litecoin is also on the way back down, though it seems it might level out at $50-60 which is solidly above where it started this bull run. I was happy enough to ride it up, but when it started getting near $100 it was clearly going to run into a wall. It's down at about the same rate as Ethereum, but for slightly different reasons. I'm still not entirely sure what drove the bull run from $45 to $95 in under a week, but whatever it was the excitement has faded and it's now correcting to a more appropriate price for the network difficulty.

Isn't a complete and definite ICO ban disastrous to the crypto industry? I do think some sort of regulatory are needed to prevent scam or low quality ICO though. Then again with government regulatory in place, I wonder if that would affect the decentralized system either directly or indirectly.

Edit: By the way, this drop isn't as much of a drop still when you compare to 3 months back.

It affects nothing, scammers just have to hold ICOs outside of countries that have an active Cryptocurrency community and proper rules in place, this way people will know that most ICOs held outside regulamented countries are most likely to be scams and teams needing funding will deliver a working prototype before coming up with ICOs and nothing to show.

You people really need to get used to the ideia that the more attractive Blockchain tech becomes the more attention from the governments it will get, its up to the comunity to act with responsibility towards one another and the developers working to deliver products to everyone, otherwise the ban hammer will start falling down left right and center until there is nothing more for anyone. 

I agree - it's positive in that some security is needed for ICOs to avoid the scamming. What's going on with the prices now is a set back, but it's short term. Regulation of ICOs will lead to greater stability and long term optimism.

Sorry, but I can't agree with you on this matter, because the ICO market has only started its growth on worldwide scale, and in China, I guess, it didn't even managed to begin to grow at all!

how the impact of this ico closure?
what will not make a lot of parties to be more difficult again in finding a job may not happen something like that so life is still comfortable and always in a happy state.

I agree.  Many short sighted people blame this (while partly true), the market is well overdue for a correction anyway.

In the long run this is a positive move for cryptocurrency, makes it more legitimate and trusted.

I agree with you it is good step but not enough, chinese people can start companies in countries where ICOs are legal. There will be more regulatory and detailed decisions from the China's central bank.