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Author Topic: China just killed the ICO market. Which ones are Chinese?  (Read 5095 times)
pigheadbig
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September 05, 2017, 12:58:39 PM
 #81


I do not think the Chinese government are trying to kill the ICO market, they just try to regulate the ICO markets since the ICO market are crazy now. So I do not think it is a bad thing.


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September 05, 2017, 12:58:46 PM
 #82

Bitcoin price fell more than 8%, according to coindesk data, following the news about the crackdown. ethereum, widely considered the bigger beneficiary of the ICO boom of the two, was down more than 12 percent.
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September 05, 2017, 01:48:01 PM
 #83

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!


Why are they fake? Plenty of morons in the West investing in crypto just the same as asia.

small market with huge fake volumes. if you don't know the true then you shouldn't invest. nuff said, do your own dd.


What a dumb thing to say from a 'Legendary' member. The three major zones for crypto investment are the US, EUROPE and CHINA...with Korea building vol too.

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September 05, 2017, 02:02:41 PM
 #84

Hey everyone, I was called into CNBC in Singapore to give some thoughts to this.

https://www.c[Suspicious link removed]m/video/2017/09/04/china-has-taken-the-right-step-to-regulate-cryptocurrencies.html?play=1
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September 05, 2017, 02:26:52 PM
 #85

I read in the statement the following:

Starting from the date of this announcement, any so-called token exchange platform shall not:

  • Be involved in offering exchange services between fiat currency and tokens
  • Buy or sell tokens for cryptocurrencies, or act as a central party facilitating the trading of tokens for cryptocurrencies
  • Provide price bidding or middleman service for the exchange of tokens for cryptocurrency.
[/i]


What do they mean by "Buy or sell tokens for cryptocurrencies". Like selling what for what? Can someone give an example? Thanks
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September 05, 2017, 02:31:51 PM
 #86

I wonder why China did this. Maybe China will buy in lower prices when people panics and start to sell.

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September 05, 2017, 02:36:30 PM
 #87

chinese looks to have a major effect on cryptocurrency, this impact on ICO Global Market. I think blockchain startups will simply leave chinese and complete their ICO campaigns elsewhere.
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September 05, 2017, 02:38:51 PM
 #88

I wonder why China did this. Maybe China will buy in lower prices when people panics and start to sell.
one reason i think its China has an important meeting in Octomber and government would not like to see a group accident since the ico is so crazy that it may cause many people lose money, the other reason is that ico collect much money originally belongs to other industry such as stock

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September 05, 2017, 04:45:08 PM
 #89

The legality of competitively proof-of-work mined coins are not at all afflicted by recent events.

So prior rulings about the legality of Bitcoin are irrelevant to the issue about ICOs.

The difference compared to prior Chinese regulatory actions, is that this appears to have been a coordinated event amongst regulators in many nations.

And the ETH ICO madness was entirely out-of-control and risking naive investors’ funds in a plethora of scams. It became a new Xerox copy ICO every day scam. The nations had no choice but to act. And surely the SEC and other nations will follow. I think Asia acted first because their governments are less democratic and more authoritarian, so they can act quicker. The democratic nations will follow because their regulators have the same responsibility to their citizens. The wheels just move slower in the democratic nations. Asia is finely oil machine that is more efficient than the West now.

The issue is not exclusive to China. China, Canada, Russia, South Korea, and Singapore have warned about coming enforcement action. The SEC already recently warned in the context of The DAO. Obviously the recent events are coordinated between regulators in all these nations including probably the SEC.

Click here for a longer explanation of why proof-of-work mined tokens are not investment securities and thus not afflicted by recent events.
The above link also discusses Ethereum’s ETH, Ethereum ICOs, and others.

It is also very important to note that pre-existing ICO-issued tokens, are illegal to trade and can be delisted from exchanges. Your home country can make it illegal for you to trade them. The above link explains this is more detail.

Please stop spreading the incorrect information, implying that ICOs will come back or that pre-existing ICOs can still be traded. Most people do not want to go to jail or suffer fines. Even if they regulate ICOs, these will only be tradeable on registered exchanges and will not be spendable as cryptocurrencies (i.e. not allowed to be traded decentralized). Thus these new regulated ICOs will not be very useful. It will not be the same.

Many shady exchanges and their largest traders are likely to suffer fines and threats of criminal prosecutions. Today is only the beginning of a massive global crackdown. The gears may move somewhat slowly but over the coming year there will be massive changes to the crypto ecosystem. All the hard-headed will have their fingertips burned up to their armpits as necessary for authorities to stop the rapid proliferation of investment securities scams.

only china goverment banned about ico can't killer ico project, about USA with SEC is very long time not support ico project
i think ico project still can run, without china people
but crypto curency is anonymous, so all china people still can invest in ico project

There will be no greater fools to sell the ICOs to, when they are not legal.

The ICO scam model depends on selling to newbies who come in and believe these 100s of Xerox copy ICOs each have a chance to become the next Bitcoin or Ethereum.

Nobody is going to speculate on illegal ICOs, because there will be no mass market for them, thus no way to hype them.

And it is not just USA and China that are banning ICOs. Same as was the case for FATCA (a USA only law), it became enforced in every country in the world, because the USA threatened to penalize every nation that did not comply.

We’ve already got Canada, Russia, China, Singapore, South Korea, and the USA warning about ICOs.

You’d have to be blind to argue this is not a critical mass.
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September 05, 2017, 07:27:07 PM
 #90

Interesting take.

So, there might be some assets (ICO originated) that will, most probably, suffer a lot and others (mined coins) that will not. Right?
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September 05, 2017, 08:16:43 PM
 #91

From Techcrunch: https://techcrunch.com/2017/09/04/chinas-central-bank-has-banned-icos/
"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." What would happened with with all these exchanges?

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September 05, 2017, 08:23:22 PM
 #92

Can we compile all the major Chinese ICOs that will be affected by this at least temporarily.

only ones I know for sure are NEO.and Walton.

I don't really know which altcoin are from Chinese ICO, but what China just did would really affect ethereum a lot because most ICO's transactions are through ethereum. So, I guess ethereum would drop for weeks and let's just hope it will recover too. I think if things work out, everything would be back to normal.

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September 05, 2017, 08:35:17 PM
 #93

Be honest believe that never happens. Though, the news of, ICO ban in China and people panic sale impact the recent cryptocurrency market downward. Certainly, this law only affects China citizens and Chinese economy.

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September 05, 2017, 09:14:55 PM
 #94

The legality of competitively proof-of-work mined coins are not at all afflicted by recent events.

So prior rulings about the legality of Bitcoin are irrelevant to the issue about ICOs.

The difference compared to prior Chinese regulatory actions, is that this appears to have been a coordinated event amongst regulators in many nations.

And the ETH ICO madness was entirely out-of-control and risking naive investors’ funds in a plethora of scams. It became a new Xerox copy ICO every day scam. The nations had no choice but to act. And surely the SEC and other nations will follow. I think Asia acted first because their governments are less democratic and more authoritarian, so they can act quicker. The democratic nations will follow because their regulators have the same responsibility to their citizens. The wheels just move slower in the democratic nations. Asia is finely oil machine that is more efficient than the West now.

The issue is not exclusive to China. China, Canada, Russia, South Korea, and Singapore have warned about coming enforcement action. The SEC already recently warned in the context of The DAO. Obviously the recent events are coordinated between regulators in all these nations including probably the SEC.

Click here for a longer explanation of why proof-of-work mined tokens are not investment securities and thus not afflicted by recent events.
The above link also discusses Ethereum’s ETH, Ethereum ICOs, and others.

It is also very important to note that pre-existing ICO-issued tokens, are illegal to trade and can be delisted from exchanges. Your home country can make it illegal for you to trade them. The above link explains this is more detail.

Please stop spreading the incorrect information, implying that ICOs will come back or that pre-existing ICOs can still be traded. Most people do not want to go to jail or suffer fines. Even if they regulate ICOs, these will only be tradeable on registered exchanges and will not be spendable as cryptocurrencies (i.e. not allowed to be traded decentralized). Thus these new regulated ICOs will not be very useful. It will not be the same.

Many shady exchanges and their largest traders are likely to suffer fines and threats of criminal prosecutions. Today is only the beginning of a massive global crackdown. The gears may move somewhat slowly but over the coming year there will be massive changes to the crypto ecosystem. All the hard-headed will have their fingertips burned up to their armpits as necessary for authorities to stop the rapid proliferation of investment securities scams.

only china goverment banned about ico can't killer ico project, about USA with SEC is very long time not support ico project
i think ico project still can run, without china people
but crypto curency is anonymous, so all china people still can invest in ico project

There will be no greater fools to sell the ICOs to, when they are not legal.

The ICO scam model depends on selling to newbies who come in and believe these 100s of Xerox copy ICOs each have a chance to become the next Bitcoin or Ethereum.

Nobody is going to speculate on illegal ICOs, because there will be no mass market for them, thus no way to hype them.

And it is not just USA and China that are banning ICOs. Same as was the case for FATCA (a USA only law), it became enforced in every country in the world, because the USA threatened to penalize every nation that did not comply.

We’ve already got Canada, Russia, China, Singapore, South Korea, and the USA warning about ICOs.

You’d have to be blind to argue this is not a critical mass.

No offense, but seeing your BCT rank makes me wondering if it did happen to you personally.
Or what's the purpose of your statement here? FUD?

The cryptomarket is changing everyday and it had to happen this way someday, but I still wouldn't argue it's like a critical mass or something.
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September 05, 2017, 10:36:40 PM
 #95

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!

very intelligent
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September 05, 2017, 10:38:00 PM
 #96

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!


Why are they fake? Plenty of morons in the West investing in crypto just the same as asia.

small market with huge fake volumes. if you don't know the true then you shouldn't invest. nuff said, do your own dd.


What a dumb thing to say from a 'Legendary' member. The three major zones for crypto investment are the US, EUROPE and CHINA...with Korea building vol too.

you can get legendary status by talking a lot. doesnt mean much
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September 06, 2017, 12:43:52 AM
 #97

Here is an interesting article looking into the ramifications of the ban in China.

https://medium.com/@crowdholding/china-ban-on-icos-not-all-doom-and-gloom-74daf814209c

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September 06, 2017, 12:35:49 PM
 #98

This has no effect on coins that already completed ICO. Just hold and buy more at these low prices.

Yes I agree, but the fun fact is that Chineese government said that all ICO's have to refund the money to the investors  Grin


I would say that is very unlikely to happen

Well it's happening: http://www.bitcoininsider.org/article/5618/four-ico-startups-refund-investors-hours-after-china-bans-token-sales

Dirty evil government thieves: Return me my money!
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September 06, 2017, 12:47:52 PM
 #99

in a sense it doesn't really matter which one of these ICOs were Chinese. what matters is that Chinese people which have been a huge part of the altcoin market and investors in ICOs are no longer capable of investing in any of them and that can potentially mean no more big ICO fundraising and no more high prices and a lot of losses instead of profit from now on.

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September 06, 2017, 12:50:25 PM
 #100

Don’t be panic. Calm down. That was only a matter of time, that the Chinese are going to regulate the market. They want to get a piece of the cake, they want to get more tax. There will be an agree between the government and all the ico's in the future.
Altcoins will do further down because of all the panic sell. So time to buy in the future with low prices.

yes there is no need to panic soo much.China will definately lift the ban.Is not over for ICO's in China.
Neo will rise up.
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