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Author Topic: China's Central Bank Declares ICO Illegal  (Read 2936 times)
wendelllee
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September 04, 2017, 09:14:58 AM
 #1

One hour ago, the bank declares ICO illegal.
Bitcoin tumbled 7.2% to $4,530.73. Altcoins are worse than that.
https://www.bloomberg.com/news/arti...-bank-says-initial-coin-offerings-are-illegal

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September 04, 2017, 09:18:20 AM
 #2

With all the money that was going out of CHina because of these ICO, the government had to do something! In my opinion the downtreand has just begun and more of this will follow

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September 04, 2017, 09:21:55 AM
 #3

One hour ago, the bank declares ICO illegal.
Bitcoin tumbled 7.2% to $4,530.73. Altcoins are worse than that.
https://www.bloomberg.com/news/arti...-bank-says-initial-coin-offerings-are-illegal
It goes down even more as of this writing on which the price have dip down again on 4323 on preev. Which we can say that these event do really give impact on bitcoins price. They would definitely act on this one because money will really goes out in China same on the thing that was said by dude above. They would really need to act and now they imposed this kind of prohibition.

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September 04, 2017, 09:24:13 AM
 #4

With all the money that was going out of CHina because of these ICO, the government had to do something! In my opinion the downtreand has just begun and more of this will follow

The money going out via ICO doesn't have so much. The ICO impacts the IPO and the stock market. Probably it's the reason for the illegal statement.

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September 04, 2017, 09:28:58 AM
 #5

With all the money that was going out of CHina because of these ICO, the government had to do something! In my opinion the downtreand has just begun and more of this will follow

The money going out via ICO doesn't have so much. The ICO impacts the IPO and the stock market. Probably it's the reason for the illegal statement.

But this news has created an opportunity to accumulate your favourite coins at lower prices. I think we shouldn't jump in all at one time instead of start accumulating in small amounts. Markets went up quite a lot and were looking for some reason to correct and this news surely gives us a good time to enter again.

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September 04, 2017, 09:32:04 AM
 #6

So that's why there are blood bath in the market right now,this is no longer price correction,it's going to drop even more
What will happen with ICO's now? Is this an end to project who use smartcontract based on china?

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September 04, 2017, 09:36:35 AM
 #7

So that's why there are blood bath in the market right now,this is no longer price correction,it's going to drop even more
What will happen with ICO's now? Is this an end to project who use smartcontract based on china?

You are correct. All ICOs in China are illegal now. The statement didn't say that all Altcoins and exchanges are illegal.

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September 04, 2017, 09:36:35 AM
 #8

this could be a threat to cryptocurrency. hope there is a good solution rather than banning cryptocurrency. i think goverment just cant handle it and bank life is on the line and banning cryptocurrency and ico as solution.

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September 04, 2017, 09:45:33 AM
 #9

Wow, these are the days we are going to remember 20 years from now. All the turbulence in this growing market.
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September 04, 2017, 09:53:33 AM
 #10

How does this decision influence Singaporean ICOs? I think Singapore is a part of China.

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September 04, 2017, 09:56:04 AM
 #11

This is method to regulate altcoins and ICO market. My opinion that will be to find another ways to participate in ICO. And it will solve all problems with ICO now

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September 04, 2017, 09:56:17 AM
 #12

What are most known Chinese ICOs?
1-NEO
2-?

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September 04, 2017, 09:57:01 AM
 #13

How does this decision influence Singaporean ICOs? I think Singapore is a part of China.

China is a huge market for investors of ICO, The Chinese decision could lead entire ICO industry to decline.

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September 04, 2017, 09:59:29 AM
 #14

How does this decision influence Singaporean ICOs? I think Singapore is a part of China.

China is a huge market for investors of ICO, The Chinese decision could lead entire ICO industry to decline.
Yes I know, But Singapore as a part of mainland is differ from the other countries. I ask is this decision a must do for Singaporean ICOs?

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September 04, 2017, 10:00:12 AM
 #15

What are most known Chinese ICOs?
1-NEO
2-?
Chinese is great market with bln money. Not only ICO important, alt coins also. And there is LTC, BCC and much more. Many developers work in China. Now some near future blockchain conferences were canceled. It's sign!

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September 04, 2017, 10:03:25 AM
 #16

The crash is still not low enough as compared to just 2-3 months back! Tongue

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September 04, 2017, 10:04:06 AM
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How does this decision influence Singaporean ICOs? I think Singapore is a part of China.

Haha, what? Singapore part of China?

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September 04, 2017, 10:06:02 AM
 #18

How does this decision influence Singaporean ICOs? I think Singapore is a part of China.

Chinese government will be very glad if theire president aslo think so.

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rafzalan
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September 04, 2017, 10:15:34 AM
 #19

How does this decision influence Singaporean ICOs? I think Singapore is a part of China.

Haha, what? Singapore part of China?

Buddy, both of you please send me your DeepOnion wallet address. I will donate some onions for you.
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Chinaban
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September 04, 2017, 10:18:06 AM
 #20

More details are here - https://www.youtube.com/watch?v=BBkPuAZtn-Q
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