China just killed the ICO market. Which ones are Chinese?

[bhoybitcoin]

This issue brings a lot of commotion in ICO world. Some are on their panic mode which I think are newbies started selling their coins while some are just waiting for the next news to plan their move. We'll hope that this doesn't create more problem that might lead to panic selling.

[cryptor47]

Whatever happens, I don't care. Though people freak out and sell, and you can see price goes down very hardly. But, I just loaded more coins, this is the perfect time! I'll HOLD them for long term and happy to holding them. Only Holding is making me happy. My advice, Don't panic sell, If you do, you never should have invested in this volatile market.

Exactly. Please everybody, sell everything that even remotely looks Asian at a huge loss right now and don't worry, all those coins will find a better owner immediately

[Savik]

in short-term view the regulation is bearish, but its positive for long-term, since many scams will disappear in the regulation, and projects on the ground will get more attention and be well known

Absolutely. We (as a crypto community) need to have some regulations placed on ICOs in order to prevent the whole process from becoming a scam-ridden pile of garbage to the point where truly good projects go back to the traditional VC funding process. It is also important to preserve public perception of the whole community. Whether it is true or not, the general public will view all crypto the same when there is bad news.

[flag39]

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?

I do not think it is only China's ban on ICO s which effected the market. I think the global geopolitical arena effects the market. The threat of North Korea with those nuclear tests did effect the stock markets all over the world and it did so to crypto markets as well 

[Slow death]

It was already expected that the Chinese government would take action, it is not possible for a government to ignore ICO's created to steal people.

so many ICO's are created by people who have only the purpose of stealing money from others and allied to the fact that the government of china has a regime that we all know, this measure was already expected

Do you guys think that, it is only starting or will continue next few days?

" Korea is “joining Japan, China and other Asian nations in trying to regulate cryptocurrencies,” reported Yonhap, adding that digital currencies are currently not recognized as financial products and their exchanges are largely unregulated.

https://news.bitcoin.com/south-korea-takes-steps-to-regulate-digital-currencies/

"

time will tell if the situation will improve or not.

[bitsph]

Let's wait a bit.

I think there are underlying reasons why they did it on top of what they claim of serious economic disrupt. It might probably an impulsive statement we don't know.

They might probably doing some precautionary measures to avoid the big boom and caught them unaware as they are not ready. I am not being positive but these can be probable reasons.

When the dust settles, I am confident that they will consider BUT there will be implementing guidelines. Regulating the Unregulated.

[WBVC]

The press is having a field day with this...

The government move should “help cool down the market and sweep away bad actors,” said Jehan Chu, whose crytocurrency hedge fund Kenetic Capital has invested in Chinese ICOs. He said he hoped regulators would allow some forms of digital currency financing later. “I don’t think they’re trying to kill it.”

WSJ story: articles/chinas-ico-ban-brings-bitcoin-back-to-earth-1504526144?mod=e2tw

http://www.businessinsider.com/initial-coin-offering-china-bitcoin-ethereum-peoples-bank-of-china-law-all-crypto-illegal-etoro-2017-9?r=UK&IR=T

[vlom]

I found the following list of banned ICOs:

http://img.caixin.com/2017-09-04/1504490975367617.png

Click the image to enlarge it.

Most have Chinese names, some have English names. They seem to be pretty obscure.

the most important question is: how many of the are ETH based? why? because i think ETH will suffer most after this ban. other coins will recover a lot faster - they have other things that are valuable.

[bitorama]

NEO, Qtum, Hshare, Binance are chinese ones

[vfrcbv91]

I think China again puts pressure on buyers. The market correction was long waited and then China suddenly throws this news. It seems to me now in a panic, the price will make -60% and then China again change your mind as informed and everything will go up again. Excellent opportunity to purchase

[acs267]

They didn't kill it.
Just have a look at countries like switzerland.
ICOs still will be out there for a long time.

[Hyperme.sh]

China just killed the ICO market. Which ones are Chinese?

“He” predicted this 2 days before it happened. And he is predicting that it will eventually destroy all ICOs, not just ones in China:

Are Most Cryptocurrencies Doomed to Collapse — because they’re “ICO-issued”?

[rainbow169]

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.

Agree...short term wave but good news for the long term.

[thangoffshore]

china regulatons about initial coin offering (ICO) make the price of bitcoin down today. not only the bitcoin price, altcoin price its also down. all of market change is red! i dont know what to do now

Then do nothing man. Better to throw some more fiat to buy the dip.

Since you are a senior member, you might have been through plenty of bloodbaths like this. No reason to be panic.

[joshuaj]

So, bitcoin dropped because of ICO ban in China?

[VeteranCoin]

This is a temporary blip on the bright future that is crypto.

[dennyd999]

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 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.

[inthelongrun]

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/

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?

[blockchainmarketus]

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]

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.