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Author Topic: China just killed the ICO market. Which ones are Chinese?  (Read 5097 times)
inthelongrun
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September 05, 2017, 01:58:28 AM
 #61

According to the following article, they've decided to crack down on exchanges as well, which is probably the reason alts are falling so much:

https://techcrunch.com/2017/09/04/chinas-central-bank-has-banned-icos/

Quote
A notice from a committee led by China’s central bank [link in Chinese] today announced an immediate ban on ICO funding, which has “seriously disrupted the economic and financial order.”

Financial news site Caixin reported [link in Chinese] reported that the committee has prepared a list of 60 exchanges which will be subject to inspection and a report. In the meantime, there will be an ICO freeze in China.

Oh my! This seems to be a lot more serious than I previously thought. I was thinking the only thing that the chinese government is really hot of are the ICOs. And now the exchanges are also being considered next in line in this operation? What the f*ck is wrong with this chinese government? Some backward pedaling?

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blockchainmarketus
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September 05, 2017, 02:11:35 AM
 #62

none
these chinese and korean markets are pretty much fake
these morons calling them self experts need to get their stupid head out of cow poops. korean and chinese market in this crypto world is very very small but their egos are pretty huge!
Of shores ICOs I think will be the next ICO. Or developers find the third world of ICOs. Chinese and Korean are not the biggest market, I agree. ICO will make more regulated in the future to avoid scam projects. I think that is a good news.

Casdinyard
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September 05, 2017, 02:28:47 AM
 #63

So, bitcoin dropped because of ICO ban in China?

Not just bitcoin but almost of the altcoin had dropped because of that.
Surely the whales now are getting profit so expect after all this drama crypto currency will recover.
Let's just hope that China will change their mind regarding this, as soon they realize what they lose.
So breathe in and breathe out and take a good sleep. Tomorrow will be another day to us.

IceOleg
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September 05, 2017, 02:31:29 AM
 #64

I just amazed the power of China. One regulation, decision from chain and almost all cryptos are in red! Do you guys think that, it is only starting or will continue next few days?

Dont belive that it is because China regulation. Whales take profit. They do it every 3 month (quarter) Blood bath always at the end of year quarter , because Whales are calculating profit/loses

I   January, February, March
II   April, May, June
III   July, August, September
IV   October, November, December


It is repeated cycle. Any bad news will be overreacted at the end of quarter!!

Unfortunately  no one knows exact dates and sometimes they start to pump further before the dump.  

Calm down and try to take profit in December or close to it together with Whales Smiley Also December is very important due to New Year and Christmass Eve. Now I think it is too late to sell, maybe some -10% but I think mostly we are over. Some coins droped around 40-50%. It is very good profit.

Totally agree with your point. The market is just overreacting and this is happening every 3-4 months. Just a good time to wait for a while and invest. Too late to sell thou...

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endaiin
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September 05, 2017, 04:44:02 AM
 #65

Don't Panic, Goverment try to protect they people money because so many Scam ICO.
I think this is just a challenge for Cryptocurrency community for upgrade to the next level.

Cryptocurrency with encrypted and peer to peer system cannot easy to track by Goverment.

something bigger will happen
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September 05, 2017, 05:11:08 AM
 #66

Don't Panic, Goverment try to protect they people money because so many Scam ICO.
I think this is just a challenge for Cryptocurrency community for upgrade to the next level.

Cryptocurrency with encrypted and peer to peer system cannot easy to track by Goverment.
In theory, can track by ip... But still it's nonsense. I think China will not become fully fenced off from such a promising and promising areas as ico.

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yinyan0502
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September 05, 2017, 05:18:28 AM
 #67

Is QTUM Chinese project?   or better question would be Are they based in China?
qtum and neo are two  typical chinese project
lijoe408
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September 05, 2017, 05:24:34 AM
 #68

Is QTUM Chinese project?   or better question would be Are they based in China?

Qtum is a majority Chinese team, but they had the foresight to register in Singapore.  They're registered as a Singapore non profit entity.  They're safe from any legal scrutiny, however the worry is that the 20 of so projects that were slated to launch on the Qtum platform will be delayed or canceled.  I think ultimately these projects will follow Qtum's example and just base themselves out of other countries like Singapore.

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lijoe408
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September 05, 2017, 05:25:16 AM
 #69

Is QTUM Chinese project?   or better question would be Are they based in China?
qtum and neo are two  typical chinese project

Technically Neo is Chinese but Qtum was registered in Singapore.

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szafa
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September 05, 2017, 05:34:35 AM
 #70

Chinese baning company what about Samsung?


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BeastLee
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September 05, 2017, 05:34:48 AM
 #71

The chinese were always going to start regulating these ico eventually. Like any other government, they want the power and money. They will make some sort of compromise for ico later. This panic sell will keep going for a bit more, then recover later. Same thing always happens with bitcoin getting banned by china in the past
Delicat
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September 05, 2017, 05:49:50 AM
 #72

the regulation is a predicted action from China government. China related ICOs, NEO and QTUM are the two that comes in mind. If you are investing in any ICO, always research on their team and plan.

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September 05, 2017, 06:07:02 AM
 #73

there is no projects are entirely from China. but most ICO involved chinese, like EOS, Waves, LakeBanker etc...

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 Smiley

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aubert
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September 05, 2017, 06:27:26 AM
 #74

none
these chinese and korean markets are pretty much fake
these morons calling them self experts need to get their stupid head out of cow poops. korean and chinese market in this crypto world is very very small but their egos are pretty huge!
Of shores ICOs I think will be the next ICO. Or developers find the third world of ICOs. Chinese and Korean are not the biggest market, I agree. ICO will make more regulated in the future to avoid scam projects. I think that is a good news.
That's the point. These rules meant to reduce the number of scam projects. Just like what Russia has stated, no ordinary people will be privileged to start a fundraising so that people who want to start fundraising need to be at least become "extraordinary" by achieving something and gaining their trusts.
So, no more random ICOs.

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xandriel
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September 05, 2017, 06:46:43 AM
 #75

none
these chinese and korean markets are pretty much fake
these morons calling them self experts need to get their stupid head out of cow poops. korean and chinese market in this crypto world is very very small but their egos are pretty huge!
Of shores ICOs I think will be the next ICO. Or developers find the third world of ICOs. Chinese and Korean are not the biggest market, I agree. ICO will make more regulated in the future to avoid scam projects. I think that is a good news.
That's the point. These rules meant to reduce the number of scam projects. Just like what Russia has stated, no ordinary people will be privileged to start a fundraising so that people who want to start fundraising need to be at least become "extraordinary" by achieving something and gaining their trusts.
So, no more random ICOs.
avoid scam ICO. that's the brightside

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September 05, 2017, 12:31:45 PM
 #76

ICOs inside China are banned. They still can buy and sell cryptos and participate in ICOs from another countries.

What do you think will happen? They will focus in ouside ICOS, and it will increase the demand for our ICOS
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September 05, 2017, 12:37:12 PM
 #77

I think other counties will get involved in ICOs and maybe there will be left few countries where ICO will not be regulated, like cannabis is legal only in few states lol

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September 05, 2017, 12:37:56 PM
 #78

You can already see the effects of the ban in the price of bitcoin an Eth. I suspect a downward trend at least for the next week or two, I fear a lot for eth.

ETH will be the most hit because most ICOs relies on its token issusance and that makes it demand so high that even push the price beyond the static position it was several months ago. At the same time, its a blow on the whole crypto but some coins are holding forth than some others and the only thing we can hope is for things to stabilize so it wont affect other ICOs to the extent of crashing the entire market.
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September 05, 2017, 12:40:58 PM
 #79

I think Chinese government is just pausing ICOs rather than killing ICOs. Afterall, Chinese GOV don't want to miss out in this technology revolution.

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September 05, 2017, 12:54:56 PM
 #80

It's funny coz a lot of people were saying that this could be the end but in my own opinion, they just want something from it. They want bigger tax coz they know crypto currency is making a BOOM now. But i am afraid that ETH would experience a disaster because of this.

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