The Chinese imposed a temporary ban on ICO.

But we are not a Chinese organisation, so our ICO will not be affected other than that we will not allow Chinese citizens to participate.

BAC is being sold in Phase 1. with a small cap for a very low price. Chance of a Big flip as Phase 2 of their token sale starts at a much higher price.

Other details: Finite total supply of BAC; ICO is a spinoff of existing company, crypto-exchange lakebtc.com; strong proof of concept with a 1.5 year Beta trial of their "Crowd-Banking" system.

ANN thread

formal whitepaper

This situation resembles the 2008 financial crisis in some ways:

Before 2008 fin crisis, financial innovations were encouraged by regulators. Asset backed securities and derivatives were hot among banks. Then came the Lehman brothers crash etc. Then the overall regulation turned to very conservative. The No.1 priority is safety, not innovation. Banks were not allowed to participate futures trading altogether, not even for hedging.

History may repeat itself with ICO. The regulators have not been very tough on innovation. Unfortunately, 1. bad players pushed their limits. they run fake projects, pump&dump, manipulate the market ... 2. bad guys from traditional scams jumped in ICOs 3. too many ppl are involved. Reported 100k+ in China. Some projects (Such as EOS), the price went down too much and ppl lost $$ and filed complaints. There's a real threat of protests. That's the last thing China wants.

In the long run, this is probably a positive thing for crypto's, blockchain, ICO etc. It's good to get rid of the bad guys.

Our CSO is interviewed by bitcoinist about the China situation:

http://bitcoinist.com/ic0-china-initial-coin-offering-bubble/

updated the list of accepted participants 09/05

LakeBanker is not Chinese; neither is our crypto-exchange lakebtc.com. We an international organisation; we're not incorporated in China. The overwhelming majority of our customers are from outside China (LakeBTC's website doesn't even have a simplified Chinese version). The only thing that connects us to China really is that some of our team/adv board spend part of the year in Shanghai---but that's mostly just because it's a really great city to live in right now

Yes we have faith in the long-term utility of our token.

This won't affect us.

LakeBanker is an international organization. We are not incorporated in China. LakeBTC's website is not available in (simplified) mandarin. The overwhelming majority of our customers are from outside China.

• Is there already a product in alpha or beta stage?

This. Also, is the ICO spinning off from an existing business? If so, that business has everything to lose by running a bad ICO.

For example, the upcoming LakeBanker ICO is spinning off from crypto-exchange LakeBTC (where the LakeBanker system has been operating in Beta for 1,5 years). LakeBTC has been around for years and is one of the most trusted names in the crypto industry. There's no way we would ruin that reputation to raise a few bucks in a scam ICO.

Check out our ANN thread and formal whitepaper

In reference to the above post, we are now happy to announce that Litcoin (LTC) deposits have been enabled at lakeBTC.com for the purposes of the Lakebanker Token Sale. Trading of Litecoin (LTC) will be enabled there shortly after the close of the sale.

An existing business generating revenue at the time of the ICO---this is the key thing. Otherwise, the Altcoin is only connected to a concept or a few lines of code never put into use.

Check out LakeBanker ICO. Our Crowd-Banking business model has been operating in Beta within long-standing crypto-exchange LakeBTC.com (top 20 in the world for Bitcoin trading volume). This is already a serious business generating revenue. Now it's ready for the world.

If you’d like to know more check out our ANN thread and formal whitepaper

Our Token Sale is in Phase 1 right now (2% of the tokens on offer at a big discount).

More articles about us:

http://www.tokenverse.com/news/lakebanker-bringing-financial-services-to-all-through-crowd-banking/

2 @ 2.55

An interview with our CEO in Uk-based fintech new site, Techbullion:

http://www.techbullion.com/interview-ceo-lakebanker-thomas-xie/

An article about our Crowd-Banking concept in Fintech News site, Techbullion:

http://www.techbullion.com/future-finance-crowd-banking/

Depends whether you're looking for short term flip or long term potential. Here's an example:

LakeBanker's ICO is a spinoff from long-standing crypto-exchange LakeBTC.com. We have 10 million user accounts created from 162 countries. Our "Crowd-Banking" system has been operating in Beta for 1.5 years and already generates revenue. This is a real project backed up by one of the world's leading crypto exchanges.

Phase 1 of our Token Sale is active now. We're offering 2% of our tokens at a massive discount in return for getting the community involved.
Phase 2 will be held in mid-October.

If you buy in Phase 1 and Phase 2 closes at a high price, you could make a 1300% profit in one or two months.

However, we also want people to recognize the long term potential of our business model and the integration of our Token into that model. So really, we're more about long term investors (our team tokens are subject to a 5-year vesting which is the longest of ANY ICO we found).


If you’d like to know more check out our ANN thread and formal whitepaper

Feel free to join us on telegram and slack if you have questions (links in the ANN thread).

If you're looking for a new coin with some short and long term potential, LakeBanker's ICO is a spinoff from long-standing crypto-exchange LakeBTC.com. We have 10 million user accounts created from 162 countries.

The LakeBanker "Crowd-Banking" system has been operating in Beta for 1.5 years and already generates revenue. Now the system is ready for the world. This is a real project backed up by one of the world's leading crypto exchanges.

Phase 1 of our Token Sale is active now. We're offering 2% of our tokens at a large discount in return for getting the community involved.
Phase 2 will be held in mid-October.

If you’d like to know more check out our ANN thread and formal whitepaper

Feel free to join us on telegram and slack if you have questions (links in the ANN thread).

Thanks for your positive feedback.

Civic got lots of attention because their ICO model had some novelties and their top guy had been on TV. We we're a fan of their model:

https://cointelegraph.com/news/ico-wars-continue-as-lakebanker-says-civic-was-north-korean

LakeBanker's ICO is a spinoff of long-standing crypto exchange LakeBTC.com. We are currently top 20 in the world for Bitcoin trading volume. Phase 1 is active now. We're offering a small number of Tokens at a BIG discount to generate interest and feedback from early participants.

The LakeBanker "Crowd-Banking" platform has been operating in Beta within LakeBTC for 1.5 years. The concept has been proven. Now it's ready for the world. We introduce a new token BAC and launch a Token Sale. Trading for BAC will be enabled on LakeBTC soon after the close of the Token Sale and before November 1st 2017. We offer near immediate liquidity for our token.


If you're interested, check out our ANN thread and our formal white paper