| NEO Smart Economy⚡Now a Top 10 Cryptocurrency⚡| Official Thread |Updated Aug10

[Ashara]

https://www.cnbc.com/2017/09/04/chinese-icos-china-bans-fundraising-through-initial-coin-offerings-report-says.html

The most important sentence in that article: "The statement added that enhanced management is needed on digital coin fundraising platforms."

ICOs will be accepted again in China once regulation is in place. I do not mind as this time is perfect to add to my position.

[1713859930]

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[Alphi]

https://www.cnbc.com/2017/09/04/chinese-icos-china-bans-fundraising-through-initial-coin-offerings-report-says.html

The most important sentence in that article: "The statement added that enhanced management is needed on digital coin fundraising platforms."

ICOs will be accepted again in China once regulation is in place. I do not mind as this time is perfect to add to my position.

http://bitcoinwiki.co/antshares-blockchain-completes-ico-securing-4-5m-and-microsoft-partnership/

The problem that we have is that ANT Shares AKA NEO was itself launched from an ICO.
The Chinese government has now issued a statement that all ICOs are to be refunded so if they enforce this then it could mean that the NEO developers will have to return all their funds to the original investors.

"Individuals and organizations that have completed ICO fundraisings should make arrangements to return funds, said a joint statement from the People’s Bank of China, the securities and banking regulators and other government departments, that was posted on the central bank’s website."

https://www.reuters.com/article/us-china-finance-digital/china-bans-initial-coin-offerings-as-illegal-fundraising-idUSKCN1BF0R7

It's too early to say whether the Chinese government will enforce this but interesting times indeed.

The bigger risk IMO is if NEO gets suspended from trading on Chinese exchanges because was an ICO.

[meccaflare0]

https://www.cnbc.com/2017/09/04/chinese-icos-china-bans-fundraising-through-initial-coin-offerings-report-says.html

The most important sentence in that article: "The statement added that enhanced management is needed on digital coin fundraising platforms."

ICOs will be accepted again in China once regulation is in place. I do not mind as this time is perfect to add to my position.

This china situation is creating a hell of a time to buy neo
Anyone who think China won't come around to ICOs is nuts.
Russia went to banning BTC to embracing. Anything is possible

[bravetheheat]

I cannot watch the CCTV video on youtube, it's a private channel.
Anyway, it's impossible that CCTV will broadcast this ICO, if CCTV want to talk about blockchain they will talk about BTC or other coins, not this new coin.
It looks to be fake.

I want to see more details about this coin.

[kazanchev]

I cannot watch the CCTV video on youtube, it's a private channel.
Anyway, it's impossible that CCTV will broadcast this ICO, if CCTV want to talk about blockchain they will talk about BTC or other coins, not this new coin.
It looks to be fake.

I want to see more details about this coin.

LOL what!?

[CryptoGreenT]

It's sale period on most coins LOL!!! This is a good moment to buy. Don't be afraid the market will recover shortly probably at the end of the month. It's improbable that China will ban ICOs since Neo is a smart contract platform and ICOs are fundamental for its success. Though I would wait to buy since I think prices will go lower. This is my prediction so don't take this absolute truth!

[Rogerdale]

Here is the full statement:

http://www.miit.gov.cn/n1146290/n4388791/c5781140/content.html

Any Chinese people here who can translate or explain it? The article on Coindesk https://www.coindesk.com/china-outlaws-icos-financial-regulators-order-halt-token-trading/ says:

The third article states that the regulation on trading platforms shall be tightened, "as of the date of this announcement, trading platforms shall not conduct any exchange business between fiat money and virtual currencies, shall not provide information and price for virtual currency trading."

They request to stop trading ICO tokens (as far as I understand, including previous solid ICOs like VEN, OMG, EOS and others) on Chinese exchanges, which is very serious.

[InvestBuzz.com]

Here is the full statement:

http://www.miit.gov.cn/n1146290/n4388791/c5781140/content.html

Any Chinese people here who can translate or explain it? The article on Coindesk https://www.coindesk.com/china-outlaws-icos-financial-regulators-order-halt-token-trading/ says:

The third article states that the regulation on trading platforms shall be tightened, "as of the date of this announcement, trading platforms shall not conduct any exchange business between fiat money and virtual currencies, shall not provide information and price for virtual currency trading."

They request to stop trading ICO tokens (as far as I understand, including previous solid ICOs like VEN, OMG, EOS and others) on Chinese exchanges, which is very serious.

Chinese exchanges are not the only player in the game. Bittrex and Polo can't be touched by chinese regulators.

[Rogerdale]

Here is the full statement:

http://www.miit.gov.cn/n1146290/n4388791/c5781140/content.html

Any Chinese people here who can translate or explain it? The article on Coindesk https://www.coindesk.com/china-outlaws-icos-financial-regulators-order-halt-token-trading/ says:

The third article states that the regulation on trading platforms shall be tightened, "as of the date of this announcement, trading platforms shall not conduct any exchange business between fiat money and virtual currencies, shall not provide information and price for virtual currency trading."

They request to stop trading ICO tokens (as far as I understand, including previous solid ICOs like VEN, OMG, EOS and others) on Chinese exchanges, which is very serious.

Chinese exchanges are not the only player in the game. Bittrex and Polo can't be touched by chinese regulators.

Without Chinese exchanges, most of ICOs wouldn't cost that much. How far will Red Pulse token go if it doesn't get to any Chinese exchange (which is quite likely)?

[AngusCanine]

this shit is going back to 0.0025btc

[CryptoGreenT]

Here is the full statement:

http://www.miit.gov.cn/n1146290/n4388791/c5781140/content.html

Any Chinese people here who can translate or explain it? The article on Coindesk https://www.coindesk.com/china-outlaws-icos-financial-regulators-order-halt-token-trading/ says:

The third article states that the regulation on trading platforms shall be tightened, "as of the date of this announcement, trading platforms shall not conduct any exchange business between fiat money and virtual currencies, shall not provide information and price for virtual currency trading."

They request to stop trading ICO tokens (as far as I understand, including previous solid ICOs like VEN, OMG, EOS and others) on Chinese exchanges, which is very serious.

Chinese exchanges are not the only player in the game. Bittrex and Polo can't be touched by chinese regulators.

Without Chinese exchanges, most of ICOs wouldn't cost that much. How far will Red Pulse token go if it doesn't get to any Chinese exchange (which is quite likely)?

I absolutely agree with this statement and I don't believe that icos will be banned definitely but they will be regulated since new icos are coming out like mushrooms and most of them are scams or at least projects without sense to exist.  

[Ashara]

https://www.cnbc.com/2017/09/04/chinese-icos-china-bans-fundraising-through-initial-coin-offerings-report-says.html

The most important sentence in that article: "The statement added that enhanced management is needed on digital coin fundraising platforms."

ICOs will be accepted again in China once regulation is in place. I do not mind as this time is perfect to add to my position.

http://bitcoinwiki.co/antshares-blockchain-completes-ico-securing-4-5m-and-microsoft-partnership/

The problem that we have is that ANT Shares AKA NEO was itself launched from an ICO.
The Chinese government has now issued a statement that all ICOs are to be refunded so if they enforce this then it could mean that the NEO developers will have to return all their funds to the original investors.

"Individuals and organizations that have completed ICO fundraisings should make arrangements to return funds, said a joint statement from the People’s Bank of China, the securities and banking regulators and other government departments, that was posted on the central bank’s website."

https://www.reuters.com/article/us-china-finance-digital/china-bans-initial-coin-offerings-as-illegal-fundraising-idUSKCN1BF0R7

It's too early to say whether the Chinese government will enforce this but interesting times indeed.

The bigger risk IMO is if NEO gets suspended from trading on Chinese exchanges because was an ICO.

That happened a long time ago. Notice how the SEC has handled it. The SEC has accepted all ICOs that already took place. China cannot just do it differently now when they did not do anything for years. Antshares started in 2015. China could have done something about it for two years already, whilst OnChain (the private side) was working in tandem with the Chinese government. NEO has a digital identity functionality which makes it the very best public blockchain to comply with regulations out of the more than thousand cryptocurrencies currently available. Da Hongfei also stated that regulation of the cryptocurrency market would be a good thing. Also one has to keep in mind that all these regulations are only intended to protect Chinese investors and nothing but Chinese investors.

Raising ICO money and trading on an exchange are two separate things. Just because one is not allowed clearly does not mean the other is not allowed. This also had been addressed earlier by the Red Pulse team.

All this is temporary until regulation is in place. If you sold now, you just sold low and will probably buy high. I prefer to buy when everyone wants to sell and vice versa and even in the most chaotic of times my return on investment is still equal to Hazzado's who comes into this thread every now and then with the Wolf of Wall Street mentality.

[AngusCanine]

perfect time to sell low and by lower, this sell off doesnt stop here were hitting  0.0025 or less

[Marina17]

Oops, today the price of NEO is about $ 18. However, now all the coins are falling. Curious what will happen next...

[JohnDoe3490]

Oops, today the price of NEO is about $ 18. However, now all the coins are falling. Curious what will happen next...

What it always does after a crash . . . it will recover. Bitcoin was banned in China in 2013 and it recovered.

[classicneverdies]

Oops, today the price of NEO is about $ 18. However, now all the coins are falling. Curious what will happen next...

What it always does after a crash . . . it will recover. Bitcoin was banned in China in 2013 and it recovered.

China is so funny. they have a big crypto market and destroy it, because they don´t understand this market. Even they could be the leaders of this segment and now some other countries will take their place. Long term this was avery bad desicion for them and their economy.

[bfons]

Imagine what would happen to all them large Chinese mining farms if they were to crack down on cryptos?

Ouch

http://www.businessinsider.com/initial-coin-offering-china-bitcoin-ethereum-peoples-bank-of-china-law-all-crypto-illegal-etoro-2017-9

[Call_Me_Bambi]

Imagine what would happen to all them large Chinese mining farms if they were to crack down on cryptos?

Ouch

http://www.businessinsider.com/initial-coin-offering-china-bitcoin-ethereum-peoples-bank-of-china-law-all-crypto-illegal-etoro-2017-9

If China drops the batton then Russia will pick it up, if it has not already done so.
Looking at some stats the Russians pay 90% less for there electricity than I do, so I'm sure there are other Russians who pay even less.

https://phys.org/news/2017-08-oil-russia-crazy-cryptocurrency.html

[Rogerdale]

Imagine what would happen to all them large Chinese mining farms if they were to crack down on cryptos?

Ouch

http://www.businessinsider.com/initial-coin-offering-china-bitcoin-ethereum-peoples-bank-of-china-law-all-crypto-illegal-etoro-2017-9

If China drops the batton then Russia will pick it up, if it has not already done so.
Looking at some stats the Russians pay 90% less for there electricity than I do, so I'm sure there are other Russians who pay even less.

https://phys.org/news/2017-08-oil-russia-crazy-cryptocurrency.html

The cheapest electricity rate in Russia (in Irkutsk, Siberia) is 1 ruble ($0.017) per kWh. In Moscow people pay 5 rubles ($0.086) per kWh. Russian miners are already building mining farms in Irkutsk and even raised an ICO for that:

http://ico-cryptofarm.net/

[Xandan]

Oops, today the price of NEO is about $ 18. However, now all the coins are falling. Curious what will happen next...

Things really don't look very good at this point after reading the clear statement of Chinese Authorities. I saw someone mentioned in reply about early Bitcoin's ban but that is one of only global currency which can not be compared with Neo at all. It was created for limited purposes but let's see what happens. Everything is in clouds and waiting for more clearness is only better way now.